This month, Amazon Original aired their newest six-part series: Luxe Listings Sydney. It follows the life of 3 of Australia’s most cutthroat agents and all that it takes to make it in Sydney’s multi-million dollar housing market. The culture in Sydney is like no other, and for many us it may seem like a worlds away. But between their stellar beaches, world-class restaurants and well-known attractions, you’ll be thinking twice about packing your bags and moving across the world.
Darling Point, Bellevue Hill and Mosman are some of Sydney’s most expensive neighbourhoods. The minute you lay your eyes on the luxury homes here, you’ll get a better understanding of why this is a one of a kind market. We spoke to Luxe Listings real estate agents, Gavin Rubenstein, D’Leanne Lewis and buyer’s agent Simon Cohen to get an inside scoop into Sydneys multi-million dollar real estate market.
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Sydney’s Multi-Million Dollar Real Estate Market
As you follow along with each episode you’ll notice there’s one major difference in Sydney’s real estate market. In other places around the world, multi-million dollar homes can typically stay on the market for a long time while waiting for the right buyer to come around. But in Sydney, Simon says, “the city’s market is very unique in the sense that it’s very fast paced. There’s a big gap between supply and demand and there’s a whole lot of money here and very little luxury property.”
The gap creates a higher demand for eager buyers both in Sydney itself, and internationally too. Within a few episodes, you can see how it can be when a listings goes to auction and when the agents work tirelessly to accomplish selling at asking price. Whatever the situation, at the end of the day, all 3 of them have one goal in mind: to make the client happy.
There’s a fierceness here unlike anywhere else in the world and properties sell within minutes, hours and days. Whereas you look at the U.S., Canada or the U.K. they can take weeks, months and even years to sell.
Simon Cohen
The Selling Feature: Location & View
Buying a property in Sydney, especially around the costal harbour means you’re paying for the view. Like many other places around the world, the view in a luxury home is often the #1 selling feature. If you have a beautiful home with a not so great view, it’s likely that it’ll go down in the market. We see this in an episode of Luxe Listings where Gavin is selling a multi-million dollar home that hangs right above a busy road.
Simon says both of these selling features go hand and hand. By location and view, he means near the water by the iconic Sydney Harbour Bridge and Opera House. For clients that don’t have a particular budget, this is where they’ll be staying.
It’s safe to say, location and view is the selling feature and D’Leanne says, “you can get a view but you also need to get the icons. The icons being the Harbour Bridge, the Opera House and the city. If you can get all of those attributes and get an amazing house you’re sold.”
Besides the view, a lot of my mums care about the home and its practicality…. they want all of the bedrooms together on the same level, they want the level garden of the main living area so they can see the kids playing in the pool from the kitchen and the living area. All these things are very important.
D’Leanne Lewis
From North America To Australia: International Home Buyers
Sydney’s culture is said to be similar to cities across Canada. Besides the difference in seasons and weather, both countries are fun, welcoming and extremely friendly. As a buyer’s agent, Simon workers closely with international buyers and he says, “what I am seeing is a lot of people buying second homes here from the Canadians I’m dealing with. In the last year there’s certainly been a larger influx of people from the U.S and Canada then I’ve personally ever seen before.”
For people that are looking to move to two similar climates Canada and Sydney are it. I don’t know many Canadians that want to leave Canada to base her permanently because the lifestyle their is so terrific. But, I can kind of get if they did want to make the change this is the perfect place to do it because you get a very similar vibe.
D’Leanne Lewis
Feature Image:Stephen Nicolls
