After Melbourne’s house price record was smashed, some home owners are wondering if their home is now worth more.
Nearly $110 million of ultra-prestige real estate was tipped onto the Melbourne market this week as the top end ignores the broader property downturn. Buyer’s advocate David Morrell said if a top-quality property comes up, buyers will jump at it, but in some other cases, the sky-high sales have caused a stand-off, as sellers increase their expectations.“The buyers are suddenly not prepared to pay 10 per cent more.”Kay & Burton
In Toorak, there were two significant listings this week, including the architect-designed residence at 3 Macquarie Road, asking $28 million to $30 million. Set on 2100 square metres, the six-bedroom residence with rolling lawns, tennis court and swimming pool was designed by Gabor Hubay as his own home before being sold in 2013 for $14.125 million.
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