The rapid sale of a canal waterfront for $5 million has reinforced Raby Bay’s growing reputation as one of Brisbane’s best kept real estate secrets, and at a time when Queensland’s recovery from the pandemic is expected to go up a notch. 

The magnificent North facing property at 46 Piermont Place, Raby Bay, with uninterrupted 180-degree views, was sold by uber agent Jan Goetze, Principal of Raine & Horne Cleveland.

Ms Goetze said the $5 million price tag represented a record for canal property in the Cleveland area, including Raby Bay. 

“There are more expensive beach fronts, but this is the most expensive canal front property ever sold in this region,” she said.

“The canal front at Raby Bay is an extremely tightly held real estate market, and this property attracted many dozens of enquiries while a handful of buyers ended up competing for the property. Ultimately, a retired grazier from Western Queensland secured the prized property.” 

Ms Goetze continued, “This property’s views are among the best you’ll find in Raby Bay and were major appeals for all buyers. The view takes in the canal and lush parkland to Moreton Bay, Moreton Island, and Moreton Island’s sandhills.”

With a history in the Cleveland market dating back to the early 1990s, Ms Goetze said the current demand levels for Raby Bay waterfronts is unprecedented. “I have been in this market for over 30 years and never witnessed this level of demand or price growth for waterfront properties.”

The Piermont Place property sold almost two years ago for $3.35 million in November 2019 and $5 million two years later. This result represents a two-year capital gain of just under 50%. 

“People are discovering the charms of waterfront real estate at Raby Bay, and before the last few months, this area was still a secret for those from the southern states and even other parts of Queensland. 

“The secret is now out of the bag about the lifestyle delights available in Raby Bay and Cleveland, and we expect this region to be increasingly on the radar of buyers from down south.”

Steve Worrad, General Manager, Raine & Horne, agreed that Raby Bay is relatively unheralded. “It is prime real estate in a blue-chip part of Brisbane, which buyers outside Queensland are just discovering. 

Mr Worrad said, “The Cleveland and the broader Brisbane market is going nuts, demonstrated by the sale of this magnificent canal front home in Raby Bay in less than 14 days. 

“Once our state borders reopen, we’re expecting a flood of Victorians to move to Southeast Queensland. Additionally, the Federal Government’s decision this week to allow fully vaccinated eligible visa holders to enter Australia from 1 December[i] without needing to apply for a travel exemption won’t hurt property market conditions in Brisbane either.

“This announcement will allow skilled workers and international students into Australia and will bolster Brisbane’s economic recovery and real estate markets.”

For all your sales and property management needs in Raby Bay and the wider Cleveland region and surrounding suburbs, contact Jan Goetze - Raine & Horne Cleveland on 0418 885 523 or 07 3286 3555

[i] https://www.pm.gov.au/media/further-steps-reopen-australia-and-secure-our-economic-recovery