World’s wealthiest cities: From New York to Sydney
The world’s wealthiest cities based on the fastest-growing millionaire populations are revealed in a new report by Henley & Partners. For compiling the list, more than 150,000 high-net-worth individuals (HNWIs) from 97 cities around the world were tracked.
Bondi Beach in 1980s & 2023
Back in 1985, I began my real estate career working for one of Australia’s largest franchise groups on Bondi Beach. There were no billionaires sharing the sand and surf as there are today.
Rising home prices accelerate over May
Amidst aggressive interest rate hikes by the Reserve Bank of Australia (RBA) over the past months, high-level inflation, as well as the ongoing impact of international conflicts, house prices have continued to rise for a fourth consecutive month over the May quarter, with prestige properties setting new records.
There is a surge in ex-pats entering the Eastern Suburbs luxury real estate market
This year we have ex-pats, migration and a low dollar, and there are not many properties at the top end available for sale.
Is Today’s Property Market Cycle Bizarre?
Over the past three years, Sydney’s property market has taken us on a wild ride—surging highs, sharp falls, and an unexpected rebound. It begs the question: is this the new normal?
The 2023 budget measures and the property market
The Sydney market is not equally affected by interest rate increases, so it can be quite challenging to predict how rising interest rates will affect the Sydney property market.
Sydney Auction Metrics 29/4/23
There are 570 auctions scheduled across Sydney for the coming week (down 6 from the previous week), and a clearance rate of 71% (no change).
What’s different about today’s property market
A rapid boom in Sydney’s property market occurred between late 2020 and the end of 2021, with the city’s median property price rising 27.7% in just 15 months.