When Essendon director Andrew Muir sold his Toorak house for $28m+ he bought a Flinders spread and a Carlton terrace. Now he’s offloaded the pied-à-terre.
Families bought in years ago,and loved the neighbourhood so much they stayed - sometimes for decades.
The suburbs in Perth where homes very rarely go up for sale are scattered across the city from the coast to the hills.
Since mid-last year,local economic conditions,plus the affordability and lifestyle factors,have sparked a turnaround in property in regional Australia.
The “immaculately preserved” three-bedroom home last sold for $2.25 million in 2019,records show. It was one of 750 auctions scheduled at the weekend.
“It’s a very,very special home,” the agent said. “People who weren’t actually considering buying in the inner west,were actually considering this house.”
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They include a palatial architect-designed residence,a private estate with helipad and a farming oasis with vineyard.
More than a quarter of home buyers now pay cash,no mortgage needed,so efforts to outbid them require clever tactics.
Asset-rich buyers who don’t need a mortgage are arriving in droves,while others struggle against high interest rates and the cost of living.