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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
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Investors buy big as confidence returns to property market

By Staff Reporter
04 August 2009 | 1 minute read

Buyers are looking at the top end of the market forcing prestigious property prices up, Ray White’s deputy chairman Sam White has said.

According to Mr White, there has been a revival in the prestige sector nationwide after an inevitable correction during the economic downturn.

“After 12 months of negativity about the economy, I think Australians have realised it’s not the end of the world and they are regaining confidence in the underlying strength of our property market,” Mr White said.

“Buyers are recognising that there is a rare chance now to get into the top end of the market and save between 10 to 15 per cent and achieve benefits in the long term.”

Ray White Double Bay Group Director Michael Finger said the emerging strength of the prestige market was reflected by a residence at Bellevue Hill in Sydney’s east which is expected to sell for more than $40 million.

“This residence occupies more than 4500sqm with one of the best outlooks over Sydney Harbour in the eastern suburbs and it is on the market for the first time in 20 years,” Mr Finger said.

“We have received significant interest in this property which offers a fantastic investment opportunity, particularly for people who have seen the share market fall 40-50 per cent.”

Investors buy big as confidence returns to property market
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.