The most expensive property in Dover Heights (photo of Domain)
Despite the widespread downturn in Sydney`s housing market in the second half of 2017, this has not affected dozens of urban areas in setting new record prices for property transactions, according to Domain.
In 2017, at least 40 urban areas in Sydney updated their record for the highest prices of property transactions in the region, down slightly from 52 last year.
(Point Piper), Northbridge (Northbridge), Century Park, (Northbridge), Century Park, on the north shore of Sydney, and blue-chip properties such as (Centennial Park) and Warrawi (Warrawee) performed best.
In April, Elaine, a luxury coastal home in Cape Piper, was successfully traded for A $71 million, setting not only the highest local property transaction price record, but also an update to the record for Australia`s highest trading price. The record for Australia`s highest trading price was originally maintained by Altona, the Cape Pepper waterfront mansion, and traded at A $61.8 million at the end of last year.
One of the fastest-growing regions on record in the eastern part of Sydney is Adur (Larry Emdur), a prominent host of Dover Heights (Dover Heights), who sold his cliff-top mansion for A $11.5 million. One move raised the region`s highest trading price record by more than 20%. The highest trading price before Dover Heights was recorded at A $9.5 million.
Echcliffe (Edgecliff) `s highest trading price record has not yet been finalized. Malcolm (Scott Malcolm), an investment banker, has sold his Echcliffe home, Carmel, for more than A $15 million, according to sources. Carmel, the luxury home, last traded in 2001 at A $six million seven hundred and seventy five thousand, keeping Echcliffe`s highest trading record to date.
In addition, in the eastern part of Sydney, the record for the highest transaction price of the Clovelli (Clovelly) property was updated to A $8 million, Tamarama (Tamarama) to A $13 million, and Centennial Park to A $12.75 million. North Bondi (North Bondi) was updated to A $10.35 million.
Despite the mixed results of high-end property trading in Sydney this year, Christopher (Louis Christopher), head of SQM Research, a property market research firm, said the trend in Sydney`s high-end property market was not consistent with the broader market. Sydney`s broad market for real estate has fallen, but strong population growth has cushioned the high-end property market.
North of Sydney Bay, Northbridge`s property record rose nearly 38 percent to A $21 million.
The highest trading record for (Castle Cove) property in Fort Bay rose to A $13 million, up more than 15 percent from A $11.28 million last year.
(Shuxin Zhou, a Chinese buyer, bought the record a day before the stamp duty increase came into effect for overseas buyers, according to a Chinese buyer, Zhou Shuxin, who updated the record for the highest transaction price of a property in Warrawi to A $12 million.
