Cream of the Crop, featuring our director Jock Langley

Posted on 10 Nov 2015, 10:16 a.m. in Abercromby's, Auctions, Luxury & Lifestyle, News

Melbourne’s luxury real estate market looks set to boom: agents
Source: The Australian  | November 07, 2015

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Melbourne’s prestige property market is set for a flurry of activity over summer and into next year as buyers see value in a market that has begun recovering from its post-GFC lethargy. 
But experts warn further volatility in the equities markets could put a damper on buyer hunger for homes worth $5 million and above, while reducing corporate profits will also have an impact.

Affluent southeastern suburbs of Toorak, Kew and Canterbury are where the activity in the established homes will be, while the $5m-plus apartments will be sold in the central business district, Southbank and East Melbourne.

One local, at Kew, will aim to capture the demand for trophy homes in the Victorian capital, putting a home on Swinton Avenue up for auction this weekend with hopes of reaping more than $9m.

The home, called Swinton, has views over the river and city skyline, with the recently renovated house on a 2013sq m block of land about 7km from the CBD. Built in 1856, the Italianate six-bedroom, five-bathroom property includes a music room, formal sitting and dining rooms, and a luxurious kitchen. There is also a guesthouse that has been converted from horse stables.

The agent marketing the property, Abercromby’s Real Estate director Jock Langley, says there has been a surge of inquiries in the high-end market in the past month. Read More







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