The 'Aussie John effect': Almost $50 million worth of homes sold in 48 hours
Excited prestige agents are calling it the Aussie John factor: a run of ultra-prestige sales all within 48 hours of Australia’s most expensive property hitting the market.
Almost $50 million worth of real estate exchanged on a handful of ultra-prestige properties on Wednesday and Thursday, headed up by a $17 million Alex Popov-designed house in Mosman.
The founder and executive chairman of Aussie Home Loans made headlines on Wednesday when Domain broke the news he is selling his Point Piper mega-mansion for an undisclosed asking price set well in excess of $100 million.
Christie’s Ken Jacobs, who is selling the Symond residence with LJ Hooker Double Bay’s Bill Malouf, said buyers are not rushing into the market because John Symond is selling. “But excitement has put some heat into the market that is helping to get these deals that were already in play over the line,” he said.
The Mosman residence of Donna Doyle was this week’s highest sale at close to $17 million. Tim Foote, of Belle Property Mosman, had a most recent asking price of $18 million on the designer property, but declined to reveal the sale price, leaving the result to sources.
The Lavender Bay home of former TV producer Bob Armstrong set a new suburb record on Thursday when it sold.
Sotheby’s International’s Michael Pallier declined to reveal the result, confirming only that it sold for well in excess of the $11 million high of 2008 set by another waterfront on the same street. It was last listed with a $15 million asking price.
Woollahra’s historic Clyde Cottage was also sporting a sold stick by Thursday evening amid talk of a sale at close to the $13 million asking price.
Ballard’s Clint Ballard confirmed it had sold to a local but was also gagged by confidentiality orders from disclosing the price.
It was owned by one of Singapore’s richest people Ronald Ooi and his wife Erica Han, who undertook a large-scale restoration and extension of what was the childhood home of the late Dame Joan Sutherland.
In Darlinghurst, Villa Moderna has also sold amid talk of a more than $5 million result for former band manager Grant Thomas.
The Dale Jones Evans-designed residence has been on and off the market since 2013, most recently with a $5.5 million asking price through Louisa Jackson, of Langulin.
Symond’s sales campaign is not the only factor buoying the high-end market. China’s upcoming Golden Week holiday period on October 1 is seeing an influx of high net worth buyers in town who are keenly inspecting property.
“We are currently dealing with parties that have the capacity and desire to purchase above the existing record, and the reality is it’s more a case of having vendors accept these offers, not the lack of buyers at that level,” Jacobs said.
Jacobs has three of the most expensive property listings currently on the market, including the Symonds home, the Fairfax family estate also in Point Piper up for $75 million to $80 million, and the Fernhill estate at Mulgoa for $30 million.