The prestige market continues to flex despite the lockdown.

  • July 22, 2021

As Sydney moves deeper into lockdown, C&H is continuing to deliver market leading results for high-end property throughout the Inner West. In the past week, we’ve seen particularly bullish activity, which seems counter-intuitive given the environment. That said, seven sales above $4m, $65m in total transactions and an average sale price of $3.050m are the type of results we would expect to see in the height of perfect market conditions.

Though, expecting the unexpected is par for the course since the world was turned upside down early last year with restricted living and lockdowns driving the necessity for so many to find peace, comfort, and happiness in their home. This latest lockdown and our past week’s results have only reconfirmed that many people remain determined to keep progressing and the quality of their home is a centre-piece decision.

We’ve always considered our company as being a solutions-based agency. When the market zigs, we’re certainly ready to zag in order to provide our clients with the best strategy to suit the market conditions. Setting the pace and establishing most of the local price records in 2021 doesn’t occur by chance but rather a collective team effort, keeping our strategies ahead of the curve and of course, excellent communication.

Matthew Hayson’s record-breaking auction of 63 Alexandra Street, Drummoyne garnered plenty of attention. Located in a dress-circle east side setting, the breathtaking Federation home on a 696sqm dual-access block had undergone a dramatic architectural transformation in 2018. Capturing bay glimpses, the six-bedroom property generated a colossal 13,485 online views and huge social media cut-through.

Keen renovators, builders and developers were quick to jump at the opportunity to view Julie Hatch’s listing at 72 Johnston Street, Annandale. The potential-packed home on 719sqm sold at auction for north of $5m after 129 bids from six very determined registered buyers, highlighting the appetite for rare development sites.

We also had the two top sales in Russell Lea with Chad Egan selling an Art Deco treasure at 45 Janet Street for $4.1m and a sensational family home at 4 Warwillah Road for north of $3m.

As we continue to operate under restricted conditions, we can encouragingly report that we have experienced zero negativity about the likely financial or emotional impacts of this latest lockdown. Online enquiry levels are continuing to soar as are requests for private inspections which suggests this market still has some legs.

While we’ve highlighted the prestige market in this article, it’s fair to say that across every price point and varying property asset, there is genuine interest and buying demand. We can never under-estimate Sydney property nor how important the quality of your home is to Aussies.

See a different view

Join our mailing list to get the inside track on CH insights and market updates.

Stay alert, stay sharp and stay informed with the latest property news, reviews and data from CH.

View Now

Join our mailing list to get the inside track on CH insights and market updates.