The 10 most expensive sales of 2016
Sydney’s super-rich have been on a buying bonanza, splashing out $170 million on just 10 houses since the start of this year alone.
Despite talk of Australia’s economic uncertainty, it seems for cashed-up property hunters money really is no object, with elite buyers dropping tens of millions on high-end homes.
Data on Sydney’s top 10 sales for the year so far, compiled exclusively for The Sunday Telegraph by CoreLogic, reveals Sydney’s high-end market is dominating the country.
The total dollar value of the sales was nearly double the amount of Melbourne’s top 10 and almost four times Brisbane’s result. Agents said with Sydney stock listings at record lows, wealthy buyers were now prepared to pay millions above the asking price to secure the home of their dreams.
Topping the list was 19 Bayview Hill Rd, Rose Bay, which was bought up by billionaire retail king Brett Blundy and his sister Tracey. Mr Blundy, who now calls Singapore home, had originally bought the property three years ago but it didn’t settle until February this year. The mansion is now back on the market with a $45 million price tag.
Ranking it at number two was 28A The Crescent, Vaucluse, which was nabbed by Menulog co-founder Dan Katz and his wife Nicole off finance entrepreneur Clive Isenberg and his wife Jennifer.
And former restaurant mogul John Szangolies bought 26 Tivoli Ave, Rose Bay, for $16.85 million in March.
Mosman’s “golden mile” Burran St saw two of the top sales with former Commonwealth Bank executive Doug Dovey and his wife Debra selling their house at number 25 for $12.8 million in March.
A few doors down, mining magnate Jun Qiu and his wife Kun Feng sold their home for $11.8 million the same month to Karen Leon, wife of Infomedia chief financial officer Richard Leon.
And Delta-Pak managing director Simon Bartter created a new suburb record in Longueville when he sold up his family home for $11.88 million in May.
Raine and Horne Double Bay agent Max Spartalis, who sold a nine-bedroom mansion on New South Head Rd, Vaucluse, for $20 million in June, said stock shortages were pushing up prices.
“We haven’t got enough homes for buyers. Between $20 million and $30 million there’s a big stock shortage,” Mr Spartalis said. “Wealthy expats, executives, local Chinese families, they all want the trophy home.”
Richardson and Wrench’s Geoff Cox was one of the agents who sold socialite Heidi Onisforou’s Potts Point terrace for $13 million in April — Australia’s record for a terrace. He said some wealthy buyers were concerned that if they sold they would struggle to buy back in.
“It’s a good time for them to sell up and make a profit, but they’re worried that if they sell, they won’t be able to find something else that’s up to their standards,” Mr Cox said.
By: Annabel Hennessy
Published: August 21, 2016Tags: agents, Chinese, Cremorne, family, home, homes, house, local, market, Mosman, property, record, sales, south, Sydney, terrace, Vaucluse, 悉尼房产