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.

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Victoria Has Australia’s Richest and Poorest Average Workers: ATO

SUBURBS in Victoria accommodate Australia’s wealthiest and poorest average workers.

According new Australian Taxation Office research, Portsea (pictured, right), about 90 minutes south of Melbourne, is home to the country’s highest earners in 2008-2009, up from third position a year earlier (those 2007-08 figures were released last year).

The average income for Portsea residents was $198,987 per annum.

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New Australian Record Price of $57.5 Million For Home, Perth

A WATERFRONT mansion in Perth’s Mosman Park has smashed the record price for a home sale in Australia.

The Saunders Street home offloaded by iron ore heiress Angela Bennett, includes three buildings, a cinema, tennis court and a private jetty. The 7,567 square metre property can be subdivided.

The price breaks the $45 million record set for a home in Sydney, and the $23 million previous Perth record price, set in 2007, for a mansion in Claremont.

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