Over this extraordinary winter season we’ve achieved wonderful sale results for our clients. August was a very strong month, particularly for family homes, illustrated best by the number of significant off-market sales.
LUXURY HOUSES & DRESS CIRCLE LOCATIONS
We read with interest research (out of major Australian real estate sites) that said buyers are searching for large blocks and luxury, and noted that sentimentality is a key driver. We certainly agree with this. When it comes to A-grade stock (great locations, accessibility and size) buyers are seemingly unperturbed by the economic circumstances of the day. Their data showed that some of the most popular streets searched in Sydney in recent times were in the eastern suburbs including Tivoli Avenue in Rose Bay, Pacific Street in Watsons Bay and Carrara Road in Vaucluse.
For us, the action was largely on Wallangra and Military Roads in Dover Heights in August, where spacious family homes and elevated vantage points attract savvy owner-occupiers. A freestanding family home with ocean views at 237 Military Road in Dover Heights achieved circa $3m in August. It’s positioned in a premium location and has been recently refurbished so checked a lot of boxers for buyers.
On nearby Wallangra Road in Dover Heights, we handled two sales this month, both for over $5.5m. One was an elevated five bedroom home at number 19 with views stretching along the water to the city’s skyline and Harbour Bridge. The interiors have been newly refreshed with contemporary comfort.
Perhaps our most memorable sale of the month was a large multi-level home in Dover Heights with views from every level. It sold off-market for over $10million.
SPRING DEMAND IS OUTSTRIPPING SUPPLY
Given winter was so unseasonably active as far as eastern suburbs family home buyers are concerned, it begs the question: what will spring bring? We believe the demand for family homes will keep outstripping supply but we’re interested to see how investors and downsizers behave in September. We’re delighted to be bringing a range of apartments to the market this September, and we’ll report back on buyer activity in those segments.
CURRENTLY LISTED PROPERTIES
‘The Beach House’ Bondi
We’ve been appointed to sell yet another spectacular apartment in ‘The Beach House’, famous for capturing the essence of Bondi’s laidback lifestyle, whilst incorporating high-end finishes, house-like proportions and cutting-edge design throughout. It’s well worth a look for downsizers who enjoy the sunshine and fitness culture along this iconic beach strip.
If Bellevue Hill is more your scene, we have for sale a modern masterpiece; the top apartment in a boutique block of just three apartments, with panoramic district views with harbour and ocean glimpses. Over on the lower end of Birriga Road, in a well maintained security building with gardens and pool we have an open plan apartment available, just a level stroll from Bondi Beach or Rose Bay.
For the many buyers seeking a family home, we have an immaculately presented property in North Bondi. Laid-out over four expansive levels and occupying an elevated position in a quiet cul-de-sac, this stunning residence has multiple balconies, terraces, living and entertainment zones, which we expect to sell in the vicinity of $5m.
If you’d prefer to be closer to the city, we’ve just announced 47 Woomerah Avenue to market in Darlinghurst. It’s a wide-fronted corner terrace with tonnes of light, big rooms and a coveted lock up garage.
We anticipate both the units and family homes to sell well in spring, with low rates and the fear of the unknown (what will the virus bring next?) acting as a catalyst for making moves sooner rather than later. Our advice? We’d encourage sellers to consider the demand that is on display in this market, it could be advantageous to be part of the undersupply of quality stock early on in spring.
- Posted by The Goldman Brothers
- On September 7, 2020
- 0 Comment