After four or so years of sombre conditions, Sydney’s prestige market has recently witnessed a burst of activity.
With three homes being sold for over $30m over the past couple of months alone, the market is showing all the signs of a healthy recovery.
White Private has acted as a vendor advisor to two prestige residential properties and two commercial assets in Sydney’s eastern suburbs over the past year. Click here to view news story. These roles have enabled us to be a close observer of increasing buyer confidence.
The change in market sentiment can be linked to increased offshore investment in Australian residential property. The larger harbour-front sales were all to buyers of Chinese origin. A potentially softening AUD and a low interest rate outlook should further support such activity.
Watching the movements in residential market activity across the three countries in which the Ray White Group operates can only reaffirm one’s faith in the market cycle. As was our experience during the last cycle, the continued momentum in New Zealand that we have witnessed over the past two years seems to have preceded a gradual improvement across the east coast of Australia, starting in Sydney.
White Private are currently investigating investment opportunities in the boutique apartment developments in Sydney’s east, to take advantage of a potentially strengthening market and increasing ‘down-sizer’ market.