If you’re looking for a home surrounded by a whole host of new experiences, New Zealand and Australia both have diverse landscapes, national parks, marine reserves and adventurous activities aplenty. Although Australia is the sixth largest country in the world, it has one of the lowest population densities of just 3.1 people per kilometre. This fact alone makes the country hugely appealing to those hoping for a complete change of lifestyle.
Darren Curtis, agent at Ken Jacobs, affiliate of Christie’s International Real Estate, says, “In our experience, buyers of prestige property fall predominantly into two halves, the international (comprising mainly Chinese) and the local Australians. The overseas portion will always gravitate (mainly) to the Eastern Suburbs of Sydney where one will find some of the country’s most expensive homes.
“Views of the Harbour Bridge and Sydney Opera House will always command a high demand (and therefore price) and the fact there is a finite number of homes on the water in the East will always keep prices high. Added to this schooling for the Mainland Chinese is also a main driver and Sydney has many top level private schools in many suburbs. This has caused significant growth in the suburb where the schools are situated spreading right up through the Upper North Shore of Sydney.
“We have sold the highest priced homes in the country for each of the last four years. Whilst there has been nothing to reset the national record this year, we have set two suburb records ($11 million and $8.1 million) and reset the rate per square metre for an existing apartment building with the sale of the Highgate Penthouse in the CBD. We have had sales this year approaching $30 million so we are seeing transactions right through the spectrum.”
Mr Curtis reports that he is finding the enquiry rate at the top end of the property market remaining strong. “Whilst there is some talk of the market slowing at lower price points,” he says, “we have continued to perform for our clients demonstrating there is still strong demand for quality stock, unreplaceable homes and properties of a special and/or significant nature.
“Internationally, Australia is seen as a safe and stable destination with excellent lifestyle opportunities and a superb educational infrastructure. Business connections between the Asian hubs and Australia continue to grow and families emigrating here are able to keep their businesses running in China (for example) and have the family based here in Australia. Given this close proximity to Asia and an overall perception, the trophy Sydney market is undervalued compared to other major world cities, we are confident this sector of the market will remain healthy and prices stable for the foreseeable future.”