Gina Reinhart, Australia's wealthiest lady has pocketed over $5 million dollars in Sydney's exceptionally hot real estate market, selling before even going to auction last week. Originally scheduled for a mid-week sale through LJ Hooker, the home was snapped up before by a keen purchaser, putting the property back at the level it had originally seen when it sold back in 2007.
The high-end market for the Sydney market seems to have gathered some pace, with a huge sweep coming in by plucky investors and owner/occupiers. With interest rates at the lowest rate they have been in a long time, the luxury market seems to be boding well from this. The easier access to money is making finance on these larger homes a lot more affordable, especially when a quarter basis point on interest rates can make the difference to hundreds of thousands of dollars a year.
Take a look inside one of the most exclusive property's to hit the market this year.
Featuring 5 bedrooms, four bathrooms, a gorgeous pool and sensational harbour views, the home surely would have appealed to families who are looking for a spacious luxurious home. As for the Rinehart's, it seems the property play has paid off with the property coming back in value to it's 2007 price, after taking a dip of over a million dollars through the period.
About the Author:
Todd Schulberg handles all things marketing for Homely.com.au - Living and breathing property, Todd has a keen interest in the movements in the market and how agents can utilise new tools and technology in order to be more connected. Using all things social, Todd suggests different ways that agents can engage and think outside the square with their marketing approach.