$155 million made from 5 sales show Sydney that there’s no slowing down for the property market.
It’s been said lately that the market is slowing down, people are worried about buying “at a time like this” and a crash is imminent, but Ray White Double Bay are proving that the market is stronger then ever. Over the past 6 months, Ray White Double Bay have been making some serious plays in property, and seeing daring buys along the way. With just a few of the sales totaling nearly $160 million, it appears that there is no crash in sight.
It used to be that the Australian record for a single house sale stand was $70 million for a Vaucluse property, La Mer, sold last year August. However, in the recent months, a secret sale from Ray White Double Bay director, Elliot Placks has seen Ray White Double Bay holding the new record with a sale of $80 million for an amalgamation of four homes.
Apart from this record-breaking sale, another noteworthy one is of course the sale of the neo-Gothic mansion Bishopscourt in Darling Point built in 1841. The sale, made by Double Bay Director, Craig Pontey, ended 105 years of ownership by the Anglican Church. The buyer spent $18 million on the official residence of Sydney Archbishop, Glenn Davies, and reportedly has suggested to spend $10 million more on refurbishing the mansion. The house measuring 6216 square metres consists of 16 bedrooms, a formal reception room, grand dining room, offices and a chapel and is listed on the Register of the National Estate.
With these two sales, along with 24 Victoria Road, and 2 properties in Wunulla Road, that brings the total to around $155 million, from these five sales made by Ray White Double Bay.
Image credit: Sam Yeldham