Are Melburnians more Practical
In a recent article in the Urban Developer, it was interesting to note that Sydney harbour
In a recent article in Urban Developer we found this very interesting.
" Harbour front houses are valued up to 97 per cent more than other waterfront homes, according to Knight Frank’s latest Australian Prime Waterfront Index" .
I recall working on a Mediterranean styled Point Piper home with a swimming pool and boat house (more like a bed sitter) built over the harbour and a grotto carved out of the Sydney sandstone. A developer bought the home for over $16m about 5 years ago and demolished it all to build a contemporary styled residence That's how valuable Sydney harbour front land is.
In another Vaucluse project, the owner combined two generous floors of a rare and impossible to find four unit development in Coolong Road to build one grand sub penthouse with private lift.
"Sydney was followed by the Gold Coast, where waterfront properties command a premium of 66.5 per cent (up from 64.1 per cent); Perth 53.6 per cent (similar to a year ago); and Brisbane, up 45.1 per cent. This was Brisbane’s first year included in the index.
However, waterside living was less popular in Melbourne, where the premium dropped from 30.4 per cent to 27.3 per cent.
Melbourne buyers preferred access to private schools and shopping villages over waterside living."
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