{"id":9457,"date":"2016-09-30T15:00:34","date_gmt":"2016-09-30T05:00:34","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=9457"},"modified":"2016-09-30T15:00:34","modified_gmt":"2016-09-30T05:00:34","slug":"confidence-lifts-in-prestige-property-market","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/confidence-lifts-in-prestige-property-market\/","title":{"rendered":"Confidence lifts in prestige property market – John McGrath"},"content":{"rendered":"

 
\nIn his column in\u00a0Switzer<\/a>, John McGrath discusses the positive return for\u00a0Australia’s\u00a0most prestigious property markets.
\n<\/strong><\/p>\n

Here’s what he had to say:<\/h4>\n

The big news in the\u00a0Sydney property market<\/a>\u00a0right now is the listing of John Symond\u2019s renowned Point Piper estate, which is expected to sell for a new national record price.\u00a0\"mcgrath\"<\/a>
\nI remember when John bought this property in 1999 for over $10 million and soon after commenced one of the biggest and most elaborate builds the Sydney market has ever seen.
\nIt took five years to create the magnificent estate, which sits on about 2,675 sqm of land with one of the largest waterfrontages along Point Piper\u2019s western edge.
\nThis is the most desired position because it faces the city, Opera House and Harbour Bridge.<\/strong>
\nThe mega listing is symbolic of rising confidence and excitement in the prestige market today.
\nThere have been some big deals this year, not to mention a few record sales, in many markets across the country.<\/p>\n

Gold Coast in focus<\/h4>\n

The stand-out is the Gold Coast, where there have been very few sales above $10 million since 2009 but all of a sudden this year, we\u2019ve had six above $10 million, a seventh which is under contract, and several more sales in the $5 million to $10 million range. \u00a0\"feature_satelites_goldcoast_beach\"<\/a>
\nThe GFC hit this market harder than any other in Australia, but prestige buyers are most definitely back in 2016.
\nSo far this year, the biggest sale has been a $25 million deal at Mermaid Beach this month.\u00a0<\/strong>
\nThere have been five other sales above $10 million across the central and northern sections of the coast, and most of them have been to local buyers.
\nI can\u2019t emphasise enough the importance of this.
\nChinese buyers are still active but it\u2019s the locals who are dominating on the Gold Coast and this signals a change in confidence and that prestige buyers obviously see value and opportunity at the moment.
\nThe prestige sector is overdue for growth and it\u2019s great to see more sales and new benchmarks being set this year.<\/p>\n

Other markets<\/h4>\n

In Melbourne, a new record was set in June, with a $24.1 million sale in prestigious Toorak.
\nThere was also a $33 million multi-purchase deal of three lots in South Yarra in March.\u00a0\"melbourne
\nIn Brisbane, the highest sale is $10.5 million for a house in New Farm in September.<\/strong>
\nIn Sydney, the highest sale so far this year is $21 million in Point Piper in May, closely followed by a $20.3 million exchange in February for a house in Vaucluse. (There was also a $33 million settlement in Rose Bay in February on a property bought a few years ago).
\nThe benchmark sale of the year is the $80 million multi-purchase of four lots in Vaucluse in April.
\nWhen people are spending multi-millions in prestige real estate, it gives confidence to the rest of the market.<\/strong>
\nAnd as Australia\u2019s international reputation continues to grow, and given the value on offer compared to London, New York, Los Angeles, San Francisco, Hong Kong and Singapore, I think we\u2019ll also see more international buyers investing here in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"

  In his column in\u00a0Switzer, John McGrath discusses the positive return for\u00a0Australia’s\u00a0most prestigious property markets. Here’s what he had to say: The big news in the\u00a0Sydney property market\u00a0right now is the listing of John Symond\u2019s renowned Point Piper estate, which is expected to sell for…<\/p>\n","protected":false},"author":176692471,"featured_media":7096,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13,17,27],"tags":[],"class_list":["post-9457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-story","category-property-investment","category-trends-topic"],"yoast_head":"\nConfidence lifts in prestige property market - John McGrath - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/confidence-lifts-in-prestige-property-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Confidence lifts in prestige property market - John McGrath - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  In his column in\u00a0Switzer, John McGrath discusses the positive return for\u00a0Australia’s\u00a0most prestigious property markets. Here’s what he had to say: The big news in the\u00a0Sydney property market\u00a0right now is the listing of John Symond\u2019s renowned Point Piper estate, which is expected to sell for...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/confidence-lifts-in-prestige-property-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2016-09-30T05:00:34+00:00\" \/>\n<meta name=\"author\" content=\"rolanrush\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rolanrush\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/\"},\"author\":{\"name\":\"rolanrush\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"headline\":\"Confidence lifts in prestige property market – John McGrath\",\"datePublished\":\"2016-09-30T05:00:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/\"},\"wordCount\":527,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Latest Stories\",\"Property Investment Topics\",\"Trends\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/\",\"name\":\"Confidence lifts in prestige property market - John McGrath - Realty Talk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2016-09-30T05:00:34+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/confidence-lifts-in-prestige-property-market\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Confidence lifts in prestige property market – John McGrath\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\",\"name\":\"Realty Talk\",\"description\":\"Your Trusted Voice For Property Investing. 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