Top End Residential Continues to Grind
AUSTRALIA’s prestige property market appears to still be in deceleration mode.
In Sydney, the Vaucluse mansion being offloaded by the Cattell family has been reduced from $21 million to $18 million. Nearby, property developer Paul Smith sold his Bellevue Hill home for a price believed to be “a heavy discount” to the $14 million he first asked last year.
SQM Research managing director Louis Christoper said the Sydney and Melbourne prestige market are recording modest price falls.
