At a glance, the 2019 Sydney Prestige market was relatively quiet in comparison to 2018’s strong growth and record setting sales. Point Piper continues to enjoy high prices, followed closely by Vaucluse, however the market overall remained unremarkable, with only a few interesting resales that upset predictions.
While the prestige house market didn’t set or break many records, there was strong growth in the luxury apartment market, with the announcement of a $140m sale at the One Sydney Harbour Development project in Barangaroo. The luxury apartment market will likely continue to have strong growth, as LendLease, the developer of Barangaroo, has indicated that it has already sold seven whole floor apartments, highlighting the potential in luxury apartments.
The full breakdown of the Prestige Market can be found below, in the 2019 Prestige Report, compiled by Peter Raptis – Director of Prestige NSW. It contains an in-depth breakdown of the top 25 House Sales for 2019, a 2018-2019 comparison, top 25 House Prices as at Jan 1, 2020, and his conclusions.