Property Listings See Biggest January Surge Since 2014
Sellers are rushing to market.
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Homeowners keen to sell have rushed to put their property on the market with the latest PropTrack listings report showing the total listings in capital cities has jumped 55.6%.
The flood of listings around the country is the largest in January since 2014 — up 24.2% with Melbourne up 67.5% and Sydney up 101.5% compared to last year.
New listings across other capital cities were also strong with year-on-year increases in Darwin (45.2%), Perth 33.9%, Canberra 20.1% and Brisbane 19.7%.
Regional property has lagged and continues to be in short supply with new listings trending down 6.7% from December to January yet remain 11.9% higher than they did in January 2021.
According to PropTrack economist Angus Moore, pumped up levels of seller confidence is bringing more property to the market.
“The growth in new listings in January comes despite the Omicron wave. This is in stark contrast to mid-2021 when the Delta wave (and associated lockdowns) curtailed seller confidence in affected states,” says Mr Moore.
“Sellers are wasting no time as they look to cash in on last year’s price growth and high buyer demand.”
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The harbourfront estate has views of the Sydney Opera House and can entertain up to 500 guests
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A Sydney waterfront mansion that has just hit the market could set a countrywide price record as the first home to sell for A$200 million (US$129.77 million).
Located in the affluent suburb of Point Piper, the sprawling home sits on a lot that’s equivalent to “four normal housing blocks” and features 98 meters (321.5 feet) of water frontage along the harbor, according to an announcement on Wednesday from Ken Jacobs, director of Australia Pacific of Forbes Global Properties, who has the listing in association with real estate agent Brad Pillinger.
“The estate is Australia’s most iconic residence and ranks amongst the best in the world, combining both privacy and space, exuding elegance and comfort, while featuring gun-barrel views of the Sydney Opera House and the Harbour Bridge,” Jacobs said in a statement.
The residence is expected to sell for A$200 million or more, Pillinger added. “There is no comparable property in Australia.”
The home, named Wingadal, as it’s located on Wingadal Place, was built for Aussie Home Loans founder John Symond, who purchased the property in 1999. It took eight years to complete the mansion, which was designed by architect Alec Tzannes, according to the listing agency.
“Wingadal is a highlight of my career in residential design and architecture,” Tzannes said. “The timeless design on the Point Piper peninsula offers a unique appreciation of Sydney Harbour from a variety of angles, rotating around an axis that lines up perfectly with the Sydney Harbour Bridge.”
The colossal home has enough internal space to entertain up to 500 people, and underground parking provides space for 20 cars, plus eight more can fit inside the garage.
The four-level home has four bedrooms as well as a two-bedroom apartment. There’s also a 2,500-bottle wine cellar, a home theater that seats 22, two commercial kitchens and a swimming pool.
“Wingadal has been a special home for my family over the past two decades, and now I’m looking forward to spending more time traveling overseas,” Symond said in a statement. “While being an exceptional family home, we have also enjoyed hosting many important events for charities and other worthwhile causes.”
This is not the first time Symond has tried to sell his waterfront estate. In 2016, he listed the home in hopes of selling it for at least A$100 million, which would’ve been a price record for the country at that time Mansion Global reported . The current benchmark was set in 2022, when a baronial-style estate, also in Point Piper, sold for A$130 million, according to The Sydney Morning Herald .
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