Mosman Real Estate Market

Mosman Real Estate Market

With some believing that the property market is showing signs of fatigue, such propaganda I believe, is unlikely to succeed… Welcome back to another edition of the vortex of intrigue!!! The ‘Mosman market’ is set to prove my theory correct with some exciting new properties appearing in The Mosman Daily this week. There should be lots of activity at the open for inspections this coming weekend. In order for the market to ‘fatigue’, it has to see a rapid decline at the top-end, but at the moment, the top-end is playing a brand new game that we have not seen before and it is far from fatigued.

Never short of an opinion (or word for that matter!) here is my prediction… As each year goes by you will see fewer homes in Balmoral. The ‘big guns’ will start acquiring adjoining properties to create grand estates. This is already happening around the place and the idea has many appealing attributes and the new buyers in the ‘up to $10 million’ bracket are busily exhausting this option. We are also seeing many buying the home in a company name so that they can then claim the Land Tax as a deduction. Also, the Capital Gains Tax has been watered down and is not as severe as in years gone by. Others are looking at placing the principal place of residence in their wife’s name, and then placing their own name on the adjoining property. It is early days for this one and no doubt the Australian Taxation Office will contest that, as it could be difficult to prove that you live on a tennis court, or could it?

Whatever the scenario, the previous mind-set about property is now in a stage of metamorphosis. It is now much more apparent that the big guns in town are much more focused on dirt as against the previous ethos of ‘bricks and mortar’. The acquisition costs are high and so is the return on investment. It would be hard to argue that the number one suburb in Australia is not in safe hands when you look at the calibre of purchaser(s). It is quite intriguing how the market players are reading the market, and this new game could very well be seen as the modern day ‘Monopoly’, with Mosman being their “Mayfair”. This will also happen in less expensive areas of Mosman. Given the frustration say at $4 million, it makes sense to acquire two properties at $2 million each. I am sure that I have you scratching your head, just remember where you read it first!

One of the most rewarding aspects of our industry is watching the emergence of the new stars in our industry, and I believe we have unearthed a super star, our very own Marize Kouroupis. Marize has, or is in the process of completing her most successful quarter ever in real estate… Posting an amazing twelve sales so far, the largest sale being a Moruben Road penthouse for $1.85 million! Whilst specializing in the sale of apartments, Marize has successfully left all competitors in her wake. With a 100% clearance rate under the hammer, it comes as little surprise that the majority of phone calls in our office are for her.

One thing that our market deserves is to be treated with respect. It out-performs every market in Australia, and yes, it has serious attitude, as do those who drive it. It is all right to predict ‘doom and gloom’, the interesting point being that those screaming the loudest are the ones that missed the market. This market is not about ‘swings and roundabouts’, the players in this market have one thing in common – they’re fearless! Cheers, clink and a (^__^)

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