Maroubra’s sales were $ 14 million, not only because the record on the outskirts of Tamarama was broken last week with $ 16.5 million in sales, but also because buyers’ passion for coastal trophy homes soared.
“The thirst for housing can’t be quenching, FOMO [Fear of Missing Out] “TINA — There is no alternative,” says Simon Fayrich, a leading home appraiser who is the director of Dyson Austin.
Designed by Smyth & Smyth with 5 bedrooms and 5 bathrooms, it has a garage of 6 cars. 16 Mermaid Avenue, Maroubra The record show was owned by Buildquip director Connie Stojic and was sold last Tuesday through Sotheby’s managing director Michael Pallier.
Earlier home price records in the suburbs were $ 10.5m in 2015 for homes on the same street.
The sale of Maroubra took place on the same day that McGrath’s non-executive director Shane Smolen sold Pacific Avenue in Tamarama, home of Bitcoin entrepreneur Kane Warwick.
Relation: Shane Smolen sells for $ 16.5 million
Steven Marks, co-founder of Mexican food chain Guzmany Gomez, also recently bought another luxury home for 14 meters.
Feilich stems from a series of trophy home sales at huge prices for lifestyle changes after COVID-19.
Thanks to the strong stock market and historically low interest rates, a significant number of foreigners in the east and around the world have the means to fund their dream homes.
House prices are expected to skyrocket (FOMO) and they are afraid to miss them because they have no choice but to pay their current highs (TINA).
Feilich said: “In addition to supply shortages, we need to hedge inflation. Receiving half-percentage revenue at banks is not an option.
“People feel very grateful and live in the best cities in the world with coastal life, stable and caring government, nominal deadly COVID-19 cases, and limited active shutdown. I will. “
According to Investopedia, TINA — or no alternative — originated from the Victorian philosopher Herbert Spencer and became the slogan of British Prime Minister Margaret Thatcher in the 1980s.
“The’TINA effect’is seen in markets experiencing asset price bubbles when the market continues to rise, despite its fundamentals, simply because there is no alternative for the investment dollar to work elsewhere. You can. “
Maroubra’s house was described as “a masterpiece on the coast of Lurin Bay with an awe-inspiring sea background.”
Located on a 569-square-meter block, the recently completed residence is at the highest point on Mermaid Avenue and offers views of the Bondi Peninsula.
Feilich said the sale of brokerage firm Robert Fiani’s Bellevue Hill mansion last Tuesday for just under $ 20 million was the best sale of the year.
The $ 25.5 million off-market sale of Scaffolding Group’s Natform Directors Margaret and Richard Prokop’s Carrara Road, Vaucluse’s home was processed by agent Monika Tu and reported to have occurred this year in other media, but in fact. Feilich says it happened in December.