Buyer’s agent Tammy Soglanich of Cohen Handler says there will be opportunities across Sydney this year. Picture: Julian Andrews.
Veteran prestige agent Craig Pontey, who has recently taken the reins at McGrath’s flagship Double Bay agency, says: “The top end of the market will get stronger, no doubt … Aussies returning from Singapore, Hong Kong and Shanghai — it’s going to be quite phenomenal.Craig Pontey of McGrath Double Bay has a price guide of $9m to $9.
Despite his optimism about the ultra-prestige market, Pontey agrees there will be opportunities for buyers this year at the lower end. Buyers agent Soglanich says: “The market is made up of so many micro-markets, so speaking broadly I think there will be deals … we saw deals last year and we will see deals this year.”“Rents increased dramatically and people with cash are prepared to grab the bird in the hand,” she says.Soglanich says buyers could benefit from price drops of 10, 15 or even 20 per cent on entry-level apartments, semis and houses — even in salubrious Mosman.
One of his best listings so far this year is the stunning home of Viola Raikhel, co-founder of global art advisory 1858, and her daughters, Sophia, 12, and Olivia, 9, at 4 Courtenay Rd, Rose Bay, which he describes as “simply a very stylishly appointed property in an idyllic eastern suburbs location”.Raikhel, who is also the co-founder with Miranda Darling of Vanishing Pictures, says she’s confident ahead of the February 14 auction.
Meanwhile, BlackDiamondz founder and Luxe Listings star Monika Tu is expecting $300m worth of listings in the first half of the year and says many of the Chinese and Vietnamese visitors in Sydney for Lunar New Year celebrations will be here until the end of February — at least.“People are staying longer because some haven’t seen their families for years and many are coming back to stay,” Tu says.
She says that on the north shore, the returning Aussies want space — “and a tennis court is always preferred”.Some leading agents have already notched up some decent sales this year, including Raine and Horne Double Bay young gun Alex Lyons, who has just sold the former home of the late Dr Glen Coorey at 7 Bunyula Rd, Bellevue Hill home, which exchanged for $9.2m two years ago.