Melbourne’s luxe market sees fast sale

MELBOURNE’S top end market remains strong, with a recent mega deal sealed in record time in Balwyn North a perfect example of that, according to Ray White Victoria and Tasmania CEO Stephen Dullens.

Mr Dullens said there was no doubt that the Melbourne market was active at the moment, with many buyers on the hunt.

“People are being selective and often taking their time, but we're seeing some excellent results. It's so fantastic to see such outstanding sales still being achieved in this market,” he said.

“Despite some obvious challenges, we're seeing top-end properties transacting in quick time-frames, similar to the inner-city Sydney and Brisbane markets.

“The luxury property market holds its own, as finance is not usually an issue for our premium buyers.

“Increasing clearance rates over the last few weeks, and numbers attending our auctions, indicate more activity in 2019 compared to what we were seeing pre-Christmas.”

Ray White Balwyn Director and star sales operator Helen Yan has just closed a multi-million sale in record time on 12 Agnes Avenue, Balwyn North.

This mega mansion with a golf course simulator, 20-seat cinema with planetarium-style ceiling and bar stocked with $30,000 worth of alcohol, is believed to have set a new price record for its suburb.

The fantasy home sold 10 days after its first open home.

Ms Yan said the multi-million dollar sale highlighted Melbourne’s appetite for luxury properties.

“We had more than 120 people through the door during six open homes and this glorious prestige property sold within two weeks of hitting the market,” she said.

“The interest and buzz around this home was strong, with people appreciating the wonderful nature of the property, and interest came from across the globe.

“That being said, it was actually a family that had lived locally for some time who were the lucky buyers.

“it proves that if there’s a home that ticks all the boxes for what a buyer wants, then they have no problem with paying big price tags to purchase their dream property.”