PHOTO: Brisbane’s riverfront apartment market is outperforming, according to a new report. Image: AAP/Josh Woning. Source: News Corp Australia

THE tide has turned for Brisbane’s luxury apartment market, with a new report revealing riverfront unit prices are nine per cent higher than they were a year ago.

The average sale price for a riverfront apartment is now $730,000, fuelled by demand from cashed-up owner-occupiers lured by their scarcity and prestige, according to the Place Advisory Riverfront Apartment Report, released exclusively to The Courier-Mail.

More waterfront apartments changed hands at higher prices in 2018, with 31 per cent of all riverfront units in Brisbane selling for more than $1 million.