It came as no surprise that the first place Prince Harry wanted to visit on touch-down was Mosman, as he began his Aussie culture lesson in mastering the art of the G’day!! He obviously wanted to view the hottest property market on the planet, and no doubt he left feeling suitably impressed having witnessed the internationally accredited Mosman $ first hand.

Not a week goes by that we don’t marvel at the Internet side of our business and this week we hit 122 subscriber sales at a property value of $203,396,000. Marize listed a property at 15/99 Kurraba Road Neutral Bay, e-mail alerts were sent out on Monday and the property was exchanged on Wednesday for $1,800,000. Given that both the vendor and purchaser are VRN subscribers, they both recognised that they were onto the best service available in real estate. This would explain why, over the past twelve months, figures just released by The Australian Bureau of Statistics identified that Australians doubled their spending on the Internet to about $4 billion. It would be fair to assume that not many agents participated in the buying, as the real estate industry is one of the most backward in understanding the virtues of moving into the world of e-business. As I have said on many occasions, the culture of real estate is so rapidly changing, that a vast majority of agents will be facing mental bankruptcy in the very near future. Given that we will exchange $40 million worth of property this month, we are certainly enjoying our voyage as $13,485,000 were directly from subscribers of ‘VRN’. Now that is a successful business plan, and we have just the four selling agents here!

The chins were wagging after our auctions this week which saw us achieve four from four, and there was much talk about 21A Holt Avenue Mosman which sold for $2,225,000. This is the first time Holt Avenue has broken the magical two million mark. Only two months ago we posted the first ever two million dollar sale in the adjoining Spencer Road, and we now hold the street records for Spofforth Street, Cowles Road, Wolger Road and Noble Street. Combined with the ‘Top Three’ sales ever posted in Mosman, and last month’s highest ever sale for a Cremorne home, we believe that we hold more record sales than any other agency. 18A Musgrave Street was also sold this week prior to the scheduled closing date for $4.3 million which is also a new street record.

As each week evolves so do the continual AOMD (Articles of Mass Destruction) about the dangers of the property market imploding. I have nothing against freedom of speech in fact I am an advocate. Totally opposite to the real estate market, where demand exceeds supply, when it comes to property stories in the media, supply certainly exceeds demand. One can see quite obviously that the vast majority simply have no idea what they are talking about as they never bother to differentiate between, what we see as high-risk property as against the markets that are clearly established. Sydney’s newest suburb Edmondson Park which will attract around 20,000 new residents when the subdivision is released soon, is what we would call high-risk. Balmoral, on the other hand is what we would refer to as well founded and strong, just ask Aristrocrat Technologies Aust Pty Limited. Given that the one-arm bandits are having a devilish year, their Balmoral abode was sold this week for $4.4 million, which is pretty good considering they purchased it in March 2002 for $3.85 million. One thing about property here, you never hear the shareholders complaining!!

Except when it comes to Bob ‘glass jaw’ Carr and his Treasure, Ebenezer Scrooge, who run the ‘State of Tax’. It now costs more to amuse a child than it once did to educate his father. Which explains why so many play the property game, as the cost of living is climbing as fast as the property market. Given that the State Government collects $14 billion a year in taxes, the tax-eaters are destroying the tax-earners. No wonder the last bastion being the tax free home is such a commodity. It is traded so well because it is the alternative lifestyle for so many and the biggest clue is that the politicians don’t even play it. Now why am I not surprised!! Cheers and clink…^__^

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