Ordinarily things tend to slow down for the agents in the East with the lead up to Christmas but this year this is not quite the story.
High end homes are continuing to be either listed, sold pre auction, off market via buyers agents and, on the odd occasion an onsite auction – the latter as we know used to be the way, how Covid has changed all of that. Clearly property this year has been the vehicle for wealth looking at prior trade prices vs todays results.
Some classic examples of new listings for 2022 :
Darling Point guide $15.5Million Auction February 2022
“Sydney’s Skinniest harbourfront”
Vaucluse – Waterfront quoting $25 million upwards auction 8th February 2022
Last traded November 2009 $ 8 million
Recent sales that have sold beyond I am sure vendor expectations:
Vaucluse : https://www.domain.com.au/property-profile/178-hopetoun-avenue-vaucluse-nsw-2030
Last traded at $17 million in April 2018 and sold over $35 million off market.
My last Linkedin post was focused on a fabulously rare home for auction in prime Ginahgulla Road on 1421 sqm. It sold 8 days after listing and although no sale price has been published, it has been suggested high $20 million was achieved. The house was originally purchased by the current vendor back in 1982 for $825,000.00
I wish the buyers big congratulations, I personally don’t get house envy very often but this one has pushed me into the zone. This is a memory house for sure.
5 Marine Parade Watsons Bay – This house bought in 1968 for $52,000.00 and passed through the same family apparently. This passed in on auction day and negotiated post auction. Vendor expectation was around $13 million and noting that 3 Marine Parade next door was recently traded for $12.38million I can only imagine around $13 maybe more was achieved but as we often see the selling agents for privacy reason remain tight lipped.
Attunga Lodge Woollahra apparently sold well over $15 million – set on over 1100 sqm last trading for $4.6 Million in January 2012
Certainly some nice profits both short and long term gain and hopefully in all cases owner occupied and is the vendors primary residence to ensure no CGT comes into play.
Until next time…
Annie x