upscale home sales close to $ 700 million

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The Malouf family was this year’s biggest real estate player with $ 140 million worth of real estate purchased in just a few months, including neighboring homes on the Double Bay waterfront for $ 35 million and $ 26 million each, and a $ 20 million Palm Beach weekend that didn’t make the top 40.

The most expensive house was Rosemont, the Woollahra trophy house of Margot, Lady Burrell, sold for $ 45 million to financier Andrew Griffin, who in turn sold his Vaucluse house for around $ 32 million to freight boss Arthur Tzaneros.

This year’s $ 691.5 million in top 20 sales outperforms the prestige market boom of 2018, when there were $ 672 million in sales in the top 20 results.

Veteran prestige agent Bill Malouf attributes much of the bull run to a shortage of trophy homes for sale as well as the rapid growth in the ranks of our wealthy citizens.

The Rose Bay Villa Florida residence was sold for around $ 45 million by veteran stock broker Brent Potts.Credit:

“It is not only expats and buyers from Asia, but also locals whose wealth has skyrocketed in recent years on the stock market or because of the success of their start-ups,” said Bill Malouf.

Prestige appraiser Paul Donovan said that there is also a high degree of asset preservation among these successful companies, which are looking to put that money in the bank in real estate.

Macquarie Bank executive director Nick O’Kane was among the biggest returning expats, paying $ 40 million for the Point Piper home of Sydney FC president Scott Barlow, followed by Sarah and Lachlan Murdoch, whose corporate interests purchased a zoned residential boathouse on the Point Piper Waterfront for $ 38 million.

The trophy house boom has spread beyond the harbor suburbs, with nine sales for around $ 25 million setting records in suburbs such as Palm Beach, Abbotsford, Bronte and Tamarama.

The Andrews family residence in Vaucluse was the 10th highest sale of the year with around $ 34.5 million.

The Andrews family residence in Vaucluse was the 10th highest sale of the year with around $ 34.5 million.Credit:Pteer rae

However, this is the first time in more than a decade that a Mosman property has not made the best-seller list, despite the suburb having recorded four sales of $ 20-22 million homes.

Nine of the top 20 sales were made without marketing campaigns or public sales.

“I have scratched my head at some of this year’s remarkable results,” said Malouf, manager of the newly formed Highland Double Bay. “Your home typically doubles in value in 10 years, but in many cases property values ​​have doubled in 18 months. “

Film producer Antoinette

Film producer Antoinette “Popsy” Albert has sold her Bellevue Hill home for the past 40 years for $ 29 million.

Mechanic Steve Davidson and his wife Carmen returned the Vaucluse mansion they bought three years ago for $ 17 million to sell it for over $ 35 million to former Westpac boss David Morgan and his wife, former Labor MP Ros Kelly, who in turn sold their $ 25 million digs on the nearby waterfront.

A similar gain was made by Stephanie Conley-Buhre, daughter of the late aviation pioneer John Conley, who paid $ 17.1 million for his Bellevue Hill mansion in 2018 and sold it in June for $ 30 million. dollars to Annabelle Shamir, wife of dealmaker Adam Blumenthal.


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