Yahoo Finance Sydney trophy homes seeing renewed buyer interest, confidence picks up
The Australian property market has suffered a downfall over the last year, and Sydney’s lower north shore trophy homes were no exception.
But thanks to the Federal Election result, APRA’s decision to relax home lending criteria, and the Reserve Bank of Australia’s cash rate drop, agents are reporting a renewed interest from buyers in a number of high-value properties which have been on the market for months, according to Realestate.com.au.
Related article: Auction rates jump to strongest in a year, following the RBA’s record-breaking rate cut
One of these homes is 6 Coronation Avenue, Mosman, which was made famous in 2017 when pop star Justin Bieber rented the mansion during his Australian tour.
The Sydney property was put on the market in February 2017 for $25 million, but a recent shift in sentiment has seen extravagant properties such as this one begin to turn heads of ultra high-net-worth buyers once again.
Brendan Warner, Director of Raine & Horne Mosman, told realestate.com.au that there had been some "high profile" individuals looking at 6 Coronation Ave, but didn’t reveal any names.
Prospective buyers include an Australian, one US buyer and another from China, Warner said.
The three-level Mosman mansion boasts five bedrooms, each with their own bathroom and walk-in-wardrobe, and can hold a total of six cars.
It captures views of Balmoral Beach, Sydney Harbour and the ocean, and even has a resort-style pool terrace on the first floor.
The mansion has an asking price of $20 million, and all its custom furniture is available for purchase.
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