Buyer confidence returning to Sydney’s prestige property market

March 27th, 2009

Coinciding with tentative good news coming from the US, some big money has changed hands since mid March 2009. Examples include $14 million for 8A Ginahgullah Road, Bellevue Hill; between $11.5 and 12 million for 22 Rosemount Avenue, Woollahra; $6.5 million for 1/2E Mosman Street, Mosman; $5.6 million for 7 Burnell Street, Drummoyne; $3.3 million for 119 Military Road, Dover Heights and $3.0755 million for 45 Stuart Street, Manly. There have been at least another eleven sales in that period between $1.5 and $5 million. Given that Sydney is now very much a buyers’ market, these solid rather than stellar figures at least suggest not everyone thinks Armageddon is just around the corner.