Apartments in the Queensland capital’s prestige riverfront precinct recorded a $308,500 price premium on non-riverfront units, according to the latest report from analysts Place Advisory.

Capital growth for riverfront units was 2.7 per cent a year for the six months to June, compared with 2.4 per cent in the wider market.

Place Advisory director Lachlan Walker said the finite supply of waterfront land and the attraction of riverfront living supported stronger price growth.

“Riverfront land is scarce,” he said. “There is still going to be long-term strength in the riverfront market.”

Brisbane’s annual Riverfront Apartment Report found the median sale price of a unit fronting the city’s winding watercourse was $763,500, compared with a median price of $455,000 for those without a river frontage.

“Over the past 10 years, riverfront apartments have been, on average, 69 per cent more expensive than non-riverfront apartments,” the report says.

This is in line with the 10-year average, which records a 68 per cent price gap.

Over the past decade, development has been more active at Kangaroo Point, where 1149 sales were recorded.

In that southside suburb, ­Waterford Properties’ 1 Scott Street, designed by Jackson Teece, is the city’s most expensive ­riverfront development, with a median price of $4.914 million for the contemporary one-per-floor apartments.

The suburb of New Farm dominates the prestige riverfront apartment top-selling list, including the Tom Dooley Developments’ ­Aquila, Pietra and Ciel.

The Place Advisory report highlights the impact the 2011 floods had on the riverfront apartment market, when capital growth fell to its lowest level in 10 years at 1.7 per cent.

However, over the year that followed, there was a bounce to ­almost 4 per cent.

Mr Walker said the concentration of riverfront apartments would shift from Kangaroo Point, which had the highest number of transactions, to South Brisbane and West End.

Some luxury offerings continue to receive a strong following in their launches to market.

On the southern side of the river, GBW Developments’ Walan tower is under construction for its 14 one-per-floor apartments, designed by architects Bureau Proberts. The apartments sold out off the plan for an average of about $4m.

Place’s Simon Caulfield, the agent for Walan, said the tower largely sold to local Brisbane residents moving from family homes to the riverfront.

He said the tower, which is on a riverfront park, evoked the space of a family home.

“The riverfront offers uninterrupted views and uninterrupted access,” he said.

“The environment resembles the environment that the clients had been residing in over the past 20 years.”

In Brisbane’s central business district, Cbus Properties’ 443 Queen Street attracted $73.5m in combined sales off-the-plan for its “subtropical tower” at its official launch.