RESIDENTIAL PROPERTY
CASHED-up crypto and start-up successes are presenting a younger face to the buying of Australia’s prestige home market, which is expected to weather any potential credit crunch.
According to the latest Herron Todd White Month in Review, in this current market cycle it appears the prestige market may trail then lead the broader market with...
“While the $5 million to $10 million markets in Sydney and Melbourne may track more closely to the rest of the market, including the impacts of contractionary market...
“Across the east coast, well-financed local, overseas (and transitioning) purchasers as well as those whose relatively recent financial success, such as in start-ups or crypto-currency...
That was on display to the extreme in August last year when the Victorian house price record was set last by cryptocurrency casino founder...
“For the prestige market, the traditional market levers that put downward pressure on prices don’t appear to be having the same impact. A potential credit crunch that...
In Sydney’s exclusive eastern suburbs, this year has since increased activity in the prestige space as prices have recovered and in some cases shot past where they were...
Between Bronte and Tamarama Beaches, 12 Bronte Marine Drive sold in April 2022 for $17.7 million after a major renovation in 2020, and the three-level, four-bedroom...
Notable trophy home sales in the east during 2023 include the oceanfront reserve home at 31 Gaerloch Avenue, Tamarama, which sold in May for $45 million, while there...
In the prestige unit space, harbourfront suburbs such as Rose Bay, Point Piper, Double Bay and Darling Point remain popular with downsizers, with a $20 million sale registered in...
Back in Melbourne, standout sales of the year included the penthouse in new development Sapphire by the Gardens, at 308 Exhibition Street in the CBD, which sold for...
As at mid-October there were 43 listings of houses in the eastern suburbs with an asking price above $15 million on realestate.com.au, which Esau said indicated that...
In Brisbane, sales of $5 million and above have increased year-on-year, with 56 sales recorded so far, already ahead of 2022’s 46...
“Not so long ago, the idea of regular $5 million to $10 million transactions would have had the industry buzzing. That sort of money was reserved for the likes of Sydney and Melbourne!...
“”Obviously, we face the same economic struggles as everywhere else in the nation, but with some major highlights on the horizon (i.e. the 2032 Olympics)...
Amity House at 101 Welsby Road in New Farm achieved a new Brisbane record this year after going under contract for $20.5 million. The 2,127 sqm parcel is...