The sudden improvement in real estate prices in US state capitals has pushed many wealthy Australians to turn more to the regional markets for luxury homes.
According to the Australian Financial Review, Australians in the economic pocket are overflowing to occupy high-end housing in the regional markets of New South Wales and Victoria.
One of the highlights of the past three months has been the sale of a 155-hectare property in Kangaloon. Nicknamed Widgee Waa, the property was sold in August to technology billionaire Mike Cannon-Brookes for $ 14.5 million.
Other wealthy families in Sydney have also booked bargains in the regional regions of New South Wales. The purchase of the four-hectare estate of Bellbrook Park in Bowral has also been one of the most remarkable sales of recent months. A Sydney family bought the property for $ 4.2 million.
"This property was discovered by a wealthy ruler of Sydney.They will send their children to school and change their way of life," Ben Olofsen told AFP. Agency.
In the last three months, sales to Sydney buyers have increased by about 85%. Olofsen said the farm properties of at least 40 hectares were the most popular.
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"Buyers were looking to buy their second or third home, they wanted to have a piece of their own rural paradise to flee the city," he said.
These families were moving to regional areas to relocate or downsize after selling their homes in Sydney, said Sarah Burke, Di Jones sales agent.
"We see a number of families moving here because they can send their children to good schools and continue to enjoy the rural lifestyle," she told AFR.
In Victoria, one of the most popular neighborhoods was the Mornington Peninsula. Buyers in the area were interested in the vineyards.
Micheal Keating, a luxury goods sales specialist and director of Michael Keating International, said most buyers were wealthy individuals, not only from Australia but from different parts of the world.
"We sell these properties as soon as we find them, the vineyards seem to be the flavor of 2019. We have many customers who want to buy," he told AFR.
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