- Top-end sales gathering pace
- $3m-plus home auctions up substantially
- Rates will have little impact on top-end
A YEAR ago – just as the global financial crisis started to hit our shores – prestige homes in some of the Australia’s best suburbs were close to unsellable.
But top-end sales are gathering pace again. While there’s a time delay for figures showing what’s happening with private sales, auctions give immediate results and numbers are up substantially on last year, The Australian reported.
In the September quarter last year only 12 Melbourne homes worth more than $3 million each were sold under the hammer. This September quarter, 19 sold, a 58 per cent rise.
In Sydney the pattern was the same.
A year ago 22 $3million-plus homes sold at auction during the three-month period, while this year it was 36, a 64 per cent increase, according to researcher Australian Property Monitors.