Nerida Conisbee: Where can I find a luxury home?

Ray White chief economist Nerida Conisbee has summarised where most of the luxurious $3 million+ homes are being sold across Sydney, Melbourne and the Gold Coast.

The announcement:

Ray White Chief Economist Nerida Conisbee said she probably doesn’t need to tell you where to find an expensive home.

However, Ray White’s most recent analysis into where the most $3 million homes are being sold doesn’t exactly correspond to the most expensive suburbs.

If you are after the opportunity to spend a lot of cash on a beautiful property, where are some places worth looking at? 

Topping the list for the suburb with the most house sales is not surprisingly Mosman with 184 sales.

More surprising is that there are a number of suburbs that topped the list that are yet to hit a $3 million median.

In particular, Maroubra had 61 sales over the past 12 months. Overall the mix of suburbs were predominantly leafy parts of Melbourne and Sydney.

The luxury apartment market shows the value of a Sydney view.

The median price for a unit in Manly is just over $1.5 million however 46 apartments were sold with a price over $3 million.

The only suburb on the top 10 list for the most $3 million plus apartment sales is Main Beach on the Gold Coast.

While historically the Gold Coast has been a market with strong demand for lower cost holiday apartments, right now it is more expensive apartments that are selling particularly well. 

Source: Ray White and CoreLogic

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