Buyer confidence returning to Sydney’s prestige property market

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.