As most avid real estate watchers would have seen all over the media this week, we were proud to announce two record sales, both in St Georges Road Toorak, which eclipsed previous Victorian highs. The first, at No 17 sold for close to $75 million, and the second, at 29-31 St Georges Road achieved more than $80 million. Both of these are iconic residences sited on exceptionally large allotments (just under two acres) and are incredibly rare properties to come onto the market.
These sales are a vote of confidence for the market in general, which again saw demand exceed supply this week. Buyers are clearly absorbing the interest rate rises on a weekly basis, and steadfastly moving on with their lives, taking a long term view, as we all should when it comes to property.