Prestige property splurge reveals what $10m will buy
Appetite for Sydney’s top-end homes surged during the last three months with around 31 properties worth more than $10 million a piece – almost half of the year’s total – exchanging hands. Prestige property valuation and advisory firm Pontons analysed the resale market for ultra-premium homes in Sydney and found that 69 properties were sold over 2019, with maximum price achieved at $40 million. Ultra-prestige homes such as this house at 18 St Thomas Street, Bronte have held their resale values during 2019. Andrew Tunbridge, valuer and director at Pontons said that while the total sales volume for the year was 43 per cent lower compared to the 120 transactions achieved in 2018, selling prices had remained stable. “The fact that 45 per cent of the sales of the annual tally above $10 million occurred in the fourth quarter of the year, is a particularly strong finish,” he said. The solid showing also coincided with the rapid growth in the broader market where Sydney dwelling values jumped by 6.2 per cent during the past three months according to data provider…