The skyrocketing demand for premium homes in Ascot

Market Insights
1 month ago
3 minutes

Situated just 7km from the city centre is the affluent suburb of Ascot. Regarded as one of Brisbane’s most sought-after residential suburbs, Ascot is known for its tranquil tree-lined streets, hilly residential areas, and ultimate village lifestyle.

Holm Developments is currently developing a collection of fourteen luxury townhomes aptly named Ascot Row. The residences will consist of three levels each including a basement and open-plan living areas designed by the Tom Mark Henry studio - a Sydney-based design team listed in Vogue’s top 50 interior designers.

The blue-chip neighbourhood is the perfect place to live for professionals and families alike as it places residents central to all necessities, while also offering the serenity of being tucked away from the hustle and bustle of the CBD.

The luxurious living space of the townhomes at Ascot Row by Holm Developments.

With exquisite residences like Ascot Row coming soon, it is no wonder that buyer demand for brand new homes in Ascot is skyrocketing.

Developers share this sentiment, speaking highly of the suburb.

Godfrey Esmonde, the Director of Holm Developments, says “Both the property sales and rental markets continue to perform strongly. Ascot has one of the highest auction clearance rates in the country. I saw two auctions last weekend and both properties sold well above $4m under hammer with multiple bidders.”

Craig Purdy, the Executive Director of Purdy Developments, says “Teneriffe, New Farm, Ascot, and Hamilton are Brisbane’s most expensive suburbs. I regularly get calls from Sydney and Melbourne professionals looking to relocate here. In most instances, 4007/4005 are on their list before they even talk to me.”

Buyers, however, are not just looking for already-existing homes in the suburb. They seek brand new, premium residences like Ascot Row.

“Ascot is a suburb full of heritage and traditional character homes. These homes are beautiful, but often come with design limitations given they are traditional character homes and often protected,” Esmonde explains. “As such, a new build can often be more affordable compared to renovating a traditional Queenslander home, and has more flexibility around design to suit the individual's needs.”

Local developers are avidly catering to this demand with new, contemporary homes such as the anticipated Palma by Purdy Developments and Ascot Row by Holm Developments.

“Ascot has some outstanding examples of large family homes on large land holdings,” Purdy remarks. “Similar to that of the Eastern suburbs of Sydney, but perhaps more aligned to Toorak, Armadale, and South Yarra in Melbourne. Ascot has had multiple $10M plus sales in recent times. But, in comparison to Sydney and Melbourne, I see value here - many Southerners say it is comparatively cheap.” 

Luxury and contemporary living in Ascot Row by Holm Developments.

Ascot has remained one of Brisbane’s most in-demand suburbs to live in for many decades. With the resurgence of new premium homes in an already well-positioned suburb, Esmonde and Purdy predict that it will retain its well-deserved reputation.

“For the last 50 years, Ascot has had the same fundamental characteristics of a blue-chip suburb - location, amenity, liveability, and desirability,” Esmonde says. “This is not going to change. As such, Ascot will remain on the top of peoples’ wish lists for another 50 years and continue to see prices grow.”

“Ascot will continue to be one of Brisbane’s most aspirational suburbs for successful professionals,” Purdy says. “It will be a great long term investment for those focused on capital gain since more stunning, contemporary homes are coming soon.”

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