Property in Sydney: the property market gap is widening
Fraser should know. He set records for Warrawee at $16 million, Wahroonga at $14.5 million and Turramurra at $11.2 million.
Prestige agents have uniformly blamed a shortage of high-end homes for sale for the string of bullish results, but that’s only part of the equation, according to Richard Simeon, who set a record for homes and properties. ‘apartments for Mosman this year of 33 million dollars and 14.1 million dollars respectively.
The other part is the number of buyers, Simeon said. “The media is so focused on the broader market declines, but at the high end we’ve never seen so many buyers with that kind of budget,” he said.
“Tech and pharma buyers in particular have made more money during COVID than they have made the rest of their lives.”
North Beaches has won seven suburban records, including Palm Beach at $27.5 million from the purchase of Wisetech billionaire Richard White and Freshwater at $14.2 million for the home sold by the co-founder of F45 Adam Gilchrist last month.
Cherie Humel of Clarke & Humel said for many homeowners, the closures during COVID have made them feel like their own four walls are getting closer to them.
With high discretionary income and no trips to spend it, they set about making plans for a new home “almost without giving up.”
Half of the suburban highs were set by properties that sold without marketing and were instead offered to high-end buyers privately.
“The off-market is busier than ever,” said Michael Coombs of Atlas, whose Northbridge sold Link Chairman Michael Carapiet’s home for $25 million in two weeks before it could hit the market. .
Off-market sales in nearby Castlecrag followed at $23.5m for the waterfront home of Transurban chief executive Scott Charlton and $22.2m for the Neerim Park Estate at Castle Cove sold by Chinese superstars Tong Liya and director Chen Sicheng.