BREAKING PROPERTY NEWS... SEE THE 'WARNING' SIGNS

Breaking News report...observations from property expert Robert Klaric.

Please start to see the 'warning' signs... I advise people to be very careful about this property market. Start looking for the signs each week in current auction results which may show a market beginning to form some cracks.

The real estate agents and media are simply telling us what has sold. The properties that are not selling at auction are not reported. This distorts the results to the public, and will ultimately alter our perception about the so-called “booming market” and what's likely to occur in our property markets in 2022...

It’s something the banks won't tell you, the media won't tell you, and the real estate agents certainly won't tell you (and Domain.com and realestate.com.au don't publish the real auction results) because it does not help any of their bottom line. Profits!

The facts and auction results are as follows:

Every Saturday news reports across Australia have “auction clearance rates” at or around a booming 85%.

But, the truthful results are that up to 30% of the auctions scheduled are either withdrawn or did not sell, and those are simply not reported by the real estate agents to the media (probably because the estate agents do not want to report all their failures). Unfortunately for the general public these results are not included in the total numbers of properties scheduled for auction.

The report shows 611 scheduled for auction, but only 441 reported, 47 withdrawn, 377 sold, and 17 passed in. Applying the 377 sold against the 441 reported gives the 85% clearance rate quoted. However, 377 sold against 611 scheduled is a clearance rate of just 62%. With 441 reported, 47 withdrawn, and 17 passed in, what happened to the other 106 that were scheduled?

If the agents included the properties that did not sell, we would have a very different marketplace and auction clearance rates would be in the 60% range - the perception of what suburbs are actually booming would be very different.

If the real estate agents, Domain & Realestate.com.au and all the other media news reports would just simply publish the real auction results and report the truth about the auction clearance rates, then the property consumer would be better informed. This includes people looking to buy or sell in the marketplace, who base their decisions on the misinformation in the media.

Buyers and sellers must start to read between the lines with the auction results in the media and in news reports. Only a small percentage of the auctions are actually selling under the hammer on the auction day. The majority of the auctions are selling prior to the auction day probably because they have limited numbers of buyers for the property.

Otherwise the real estate agents and owners would go to auction to create more competition and push their sale price up. However, the sold-prior-to-auction result is included in the overall list of auctions selling on the day.

Take for example the two prestigious Sydney suburbs of Manly and Mosman.

Both suburbs recorded on the weekend auction sales of virtually 100% and every auction listed sold prior to auction? And no list of any other properties that were withdrawn or passed in? If the property market is booming, why sell the property prior to auction? Unless, the real estate agents have only one real buyer for the property!

So don't let the “truth get in front of a dollar.” Property buyers and sellers need to know and to be aware that auction results are being manipulated by the real estate agents in the media to paint a picture that looks so much better than it actually is.

Robert Klaric, CEO and Founder, The Property Expert International

This exclusive property report has been proudly brought to you by
www.residz.com

Be Careful What You Wish For – Buying Into Trouble?

The housing market may look pretty fizzy right now but is it going to pop? Plenty of mortgage-holders in NSW and Victoria certainly face an uncertain future.

 Residz Team  9/20/2021 8:05:16 AM  4 min read

The housing market may look pretty fizzy right now but is it going to pop? Plenty of mortgage-holders in NSW and Victoria certainly face an uncertain future. Since July 14,500 Australian home mortgages have been deferred, says an Australian Banking Association report.

The Property Expert International co-founder Robert Klaric has also indicated that the current hyped-up property market can’t last forever. In fact, he says that “mortgage stress brought on by COVID constraints together with the fear of future interest rate rises might impact house prices sooner than many pundits are predicting”. He further comments that “many homebuyers are maximizing their loan commitments merely to get into the market which leaves little if any room for job losses or rate rises”.

According to the Australian Financial Review, around three-quarters of calls to ANZ bank for home loan assistance have come from NSW customers in the wake of the Greater Sydney lockdown.

It shows how desperate the situation must be for many. As we’ll see, it also may be a signal to buy carefully.

It’s getting tough out there

After the avalanche of deferrals in 2020 it was clear banks were going to agree to them only as a last resort. Deferrals reached a peak of 900,000 in June 2020, although 50% of loan payments resumed in September.

Now it again appears many mortgages are either on approved repayment hold, paying lower than the minimum required, or are in default.

Paying the piper

Whatever the case, these loans are still accumulating interest charges and at some point the piper (bank) must be paid. While the interest rates are low right now, the amounts being borrowed are not. The average home loan in New South Wales is $752,490, in Victoria $608,958, in Queensland $467,316, in Western Australia $437,650, in South Australia $404,807, in Tasmania $376,726, in the ACT $593,204 and in the NT $372,378. You can test the effect of a mortgage holiday using a mortgage deferment calculator:

In light of this mortgage distress, could there be a rush of people selling up in the next couple of years?

High mortgages, low appeal

If so, the ones more likely to sell will be those carrying mind-boggling mortgages for homes in more marginal areas (eg. with fewer amenities, on busy roads or highways, with higher numbers of people losing their jobs, more crime, poor school results, etc.).

Property values may stop rising in these areas, and potentially fall. Property that stubbornly refuses to rise in value isn’t very common right now. While potentially good for first home buyers, it will be very troubling for people who are buying in at high prices expecting their equity to build over time.

This could represent a lot of homeowners. The lack of housing stock has pushed desperate buyers to borrow big amounts to buy poor homes in less desirable areas.

According to a July RBA survey, 68% of the expert respondents believe that first home buyers are being forced to compromise on their home due to fear of missing out in the property market.

Counting down the days

At present, owners in less desirable areas may simply be waiting for the market to go higher before they sell. In this hot market, each day can be worth up to $1100 (see chart below). However, any sign the market looks to be topping out might see stretched homeowners looking to cash in and clear their mortgage.

So what would happen if people struggling with mortgage repayments rushed to sell as they once rushed to buy? How lumpy would the sell-off be? Would there be pockets where housing stock becomes less desirable as a result? And, will prospective buyers more vigorously research crime statistics or school results of areas before they borrow heavily?

With new tools like Residz.com, buyers can now scan neighbourhoods before they complete a home purchase, getting a clearer picture than ever before of factors with the potential to lift or sink house prices.

Vulnerable Aussies increasing

Finder home loans expert Sarah Megginson is quoted as saying the financial impacts of COVID-19 has left many Australians vulnerable.

"Over the past 18 months, so many Aussies have seen their financial reserves drained," Ms Megginson said at Finder. "There's a real chance that further economic shock could lead to more people falling behind on their mortgage payments."

If this sounds a bit like your situation, speak to your bank or financial institution as early as possible. The Australian Banking Association has suggestions for home buyers who can’t make repayments:

• Restructure the loan.

• Convert to interest-only payments for a period of time.

• Extend the loan term.

• Or, on a case-by-case basis some further deferrals could be granted.

• Speak to a financial advisor if in severe financial difficulty.

According to Mortgage Choice, in general, your lender will try to work with you and help you through rough times - since it's also in their best interest for you to get back on your feet, rather than default on your home loan.

Conclusion

In the current property boom of windfalls, it’s hard to imagine a situation where properties fall in value. But it wasn’t that long ago this happened with loan defaults in mining towns across Australia.

After borrowing a record $48 billion for housing in the first four months of 2020, Australians took loans worth $75 billion between January and April this year, according to ABS data. How many of those are in some sort of distress, and that may preface a sell-off at some point, remains to be seen.

Discerning buyers logged into Residz could start looking at areas where any sell-offs might occur. As a result, they may avoid buying a property that may well lose value over the next five years, or have some chance of buying a more affordable property.

Image source: https://www.flickr.com/photos/mikecogh/22787539912/

The Good, The Bad & The Ugly - What will now happen to the Property Market? Robert Klaric - The Property Expert

I have been working since the age of 16 years old... I am now 53 and have over 32 years experience in the Real Estate and Property industry and having worked through Australia's Two Recessions, the first one in 1982 (where my family lost everything as the Banks moved in and evicted us from our Restaurant and our family home!... I still carry the 'Emotional scars' from this challenging time.) and the second recession in 1990 and let's all not forget the GFC - Global Financial Crisis in 2008.
In the last few weeks Leonie and I, have received so many calls and emails asking for HELP!... People just needing some 'Personal and Property' advice on 'How to Survive' this uncertain times both 'Emotionally & Financially' and what we need to do to get through this Corona Virus disaster we now have in 2020.

The Big Question everyone is asking?... What will happen to the Property Markets?

My Answer?...

We now have a 'Three Tier' Property Market!... 'The Good, The Bad and The Ugly'.

The 'Good' Market...
The 'First Tier' in our Property Market (And also the smallest Tier)...
We now seeing the 'First home' buyers entering the market with a much bigger selection of properties to buy from and at significantly reduced prices in the lower price range of $500,000 to $1 Million price range (With the help and funding from Mum & Dad). 
For the Sellers, we now seeing a clear distinction between the 'Recession Proof' sought after suburbs that are within 10 kms of the Sydney CBD and then the harder hit suburbs in the Western and Southern Suburbs of Sydney. The stock levels in the sought after suburbs and areas remains low and the buyer demand remains high. Examples of some Sydney 'Recession Proof' suburbs are Bondi, Coogee, Randwick, Manly, Mosman, Hunters Hill, Strathfield, Annandale and Balmain where the prices are remaining stable. We are experiencing a small decrease in the property prices at the lower end of the market and the level of Price reductions are around 10% during this Covid19 crisis for the property transactions that are still currently occurring.

The 'Bad' Market...
The 'Second Tier' market, which is the middle class of Australia. 
Buyer activity in the mid market from $1.5 million and above has reduced significantly and buyer confidence from the 'Middle Class of Australia' is very low due to the High increase of unemployment now and the majority of business owners experiencing a massive reduction to turnover and sales. 
The reduced number of property sales transactions during the early stages of the Covid19 Pandemic has seen Price reductions of between 10% to 20% to see properties finally transact and get sold in this current marketplace. For many Sellers now already experiencing this first hand with the property downturn and finding themselves having to sell their property and meet the current market price due to the difficult circumstances they have found themselves now in due to having purchased already before selling their property, unable to meet loan and financial repayments and loss of Employment.

The 'Ugly' Market...
 
Auction Clearance Rates were at 80% Plus in February earlier this year, and now the clearance rates are less than 40% in April 2020 and with the Covid-19 Real Estate industry changes to Public Auctions and Open for inspections (Only Online Auctions and limited private buyer inspections permitted).
The Reality is that Australian economy is quickly driving towards another 'Recession' due to the Bushfires, Corona Virus Crisis and Business disruption (if we are not already in one in my opinion!...) due to many small Businesses being smashed and lack of confidence from the maketplace.
The Unemployment Rate will quickly head towards 10% by the end of 2020 and Bank Funding & Finance will be extremely difficult to obtain for the vast majority of Australians for business, property investment and home ownership.
The Property markets across the major capitals of Australia will experience a Property decline of up to 20% (excluding the sought after and 'Recession Proof' Suburbs) and if not greater in the 'Vertical Suburbs' (The Suburbs with multiple High rise Apartment blocks} around Sydney, Melbourne and Brisbane where we will see a large oversupply of properties for sale, new High rise apartments coming onto the market later this year and significantly reduced numbers of buyers willing to commit to purchasing property. Unfortunately many small 'Mum & Dad' investors will not be in financial position to hold on to investment units as they are not receiving enough rental income to cover minimum loan expenses due to the oversupply of rental apartments that will become available. 
The reality is that 2020 will be a 'Rollercoaster Ride' for the Property Market, and Unfortunately we will see a further market downturn in 2020 and it will progress into next year 2021 due to the 'Recession and High Unemployment'.

Please feel free to call or email me on 0411622257 to discuss confidentially any 'Help' you may need during this Covid-19 Crisis and remember that we are all in this together!... 
'Stay Home, Stay Safe and Stay Healthy'. 

Kind Regards,
Rob & Leonie Klaric
The Property Expert International

TEST CRICKET GREAT ALLAN BORDER SELLS MOSMAN INVESTMENT APARTMENT FOR $1.1 MILLION

by Lucy Macken written for Prestige Property Reporter Feb 29, 2020

Test cricket great Allan Border has cashed in on Sydney’s booming property market, selling a Mosman investment apartment for $1.101 million that overlooks his namesake Allan Border Oval.

Sources say there were about nine bidders competing for the two-bedroom apartment owned by the Queensland-based former Test cricket captain, pushing the result well above the $1 million level, when it was called on the market.

Rob Klaric, of property advisory The Property Expert, placed the winning bid, presumably on behalf of a client, although he declined to comment on the deal.

The property last traded for $98,000 in 1987 when bought by Border’s parents John and Jacqueline, who transferred it to their son in 1992 for $185,000.

The following year the oval was renamed after Mosman Cricket Club’s most distinguished old boy.

Ray White Mosman’s Lewis Adams declined to comment when approached by Domain, but sources say there was a $950,000 guide on the apartment in the lead-up to Thursday’s auction.

Auction clearance rates have returned to boom-time levels this year, reaching a preliminary 82 per cent last Saturday Sydneywide, according to Domain data.

VILLA AQUA - MERRY CHRISTMAS AND HAPPY NEW YEAR 2020 - GONE FISHING...

Both Leonie and I, have been very 'Privileged and Honoured' to be selected as the ‘Trusted Advisors and Advocates’ for so many of our friends, clients and VIP celebrities over the last 12 months. We have proudly represented and provided professional property advice on ‘Buying and Selling’ throughout Australia and Internationally.
We have been blessed in 2019 to Celebrate our 30th Wedding Anniversary in our Award Winning home 'Villa Aqua'.
Click on the Link below;
. http://www.thepropertyexpert.com.au/blog/2019/9/18/wj0fr4qgmwkxt7n352f8z5wcfim02v
 
We would like to take this opportunity to wish you a very
Merry Christmas &  Happy New Year and we look forward to being of service once again in 2020.

BWM Group founding partner and adman Rob Beligiovane sells Mosman home The Property Observer Jonathan Chancellor 29th Oct 2019

BWM Group founding partner and adman Rob Belgiovane has sold his Parriwi Rd, Mosman home for a bullish price off-market. The $8 million buyers have emerged as thoroughbred horse owner Paul Fleming, the son of the late grocery tycoon Jim Fleming, and wife Allison.

The deal was done by a truly local agent, Robert Klaric at The Property Expert International who lives just down the street. Belgiovane, who founded BWM in 1996 with Paul Williams and Jamie Mackay, had paid $6.5 million three years ago when buying from the former Bank of Queensland chief Stuart Grimshaw. The four-level Chinamans Beach home, with a private beach, was designed by architect Guy De Compiegne.

It has five bedrooms and four bathrooms.

It’s a return to the neighbourhood for the Flemings who previously owned on the dress circle Shellbank Ave before selling in late 2017 for $11.05 million.

Parriwi Rd prices have reached $10.1 million, with only a couple of sales per year. An $8.55 million sale was recently secured by the Barros family.

Belgiovane has lived in Mosman before. He sold his renovated Balmoral slopes home for $5,575,000, well over double his $2.46 million purchase price in 2011.

THE STORY OR AN OLD CONCRETE POOL ON 'UNUSEABLE' MOSMAN LAND -THAT'S JUST BEEN AWARDED AUSTRALIA’S BEST RESIDENTIAL PROPERTY STORY BY ANNA USHER MOSMAN COLLECTIVE

A CONTROVERSIAL MOSMAN HOME, 15 YEARS IN THE MAKING, HAS DEFIED ALL ODDS TO WIN A PRESTIGIOUS INTERNATIONAL PROPERTY AWARD. ITS PROUD OWNERS, ROBERT AND LEONIE KLARIC, INVITED ANNA USHER AROUND FOR A PRIVATE TOUR OF THEIR VERY OWN UTOPIA. 

It’s one of those perfect Sydney mornings, when I step barefoot, onto the golden sands of a secluded private beach.

The sun has already filled the sky with a warm glow and a majestic Moreton Bay fig frames the turquoise panorama that lies ahead. For a moment, it really feels like I could be on an idyllic island, somewhere in the Mediterranean.

SPECTACULAR: ‘Villa Aqua’, Parriwi Rd, Mosman.

But I’m not.

This breathtaking estate - 15 years in the making – is known as “Villa Aqua”; a majestic Mosman masterpiece that has defied every conceivable engineering and construction boundary, to become officially recognised as the Best Residential Property in Australia at the 2019 International Property Awards.

 “We wake up every morning and have to pinch ourselves,” home owner Rob Klaric tells me from the shoreline of his very own Utopia, “it’s more than just a beautiful place to live, in a stunning location - it’s a real family home.” 

An incredible example of architectural innovation and daring, Villa Aqua challenges the very notion of how we should live. More than bricks and mortar, it’s an awe-inspiring ‘Superhouse’ delivering a 360-degree completeness of form, on a block of land once described by construction experts as “absolutely un-useable.”

 “People didn’t ever believe that we would be able to build on this site – even one Town Planner said it couldn’t be done,” Rob says, “but for a wog like me who comes from the other side of the tracks, I don’t give up easily.”

Robert Klaric’s rise from the western suburbs, to the glittering shores of Sydney Harbour, is a story of unfailing self-belief, a relentless work ethic – and steadfast determination.

The son of hard working, non-English speaking migrants, Rob freely admits he was an academic failure at school, who had an insatiable passion for football – and real estate.

For the past 30-years, Rob has been better known as “The Property Expert”; a regular face in the media, who rose to fame after negotiating the spectacular sale of his real estate business to McGrath in 2011.

“My old man was a Croat, but he taught me the most valuable life lesson of all,” Rob says, “you have to make your own luck in life, you have to take many risks, work hard – and never let anyone steal your dreams.” 

It was September 2003 when Rob and wife Leonie rolled the dice and threw caution to the wind, literally buying a derelict swimming pool perched at the bottom of a steep cliff on Parriwi Rd, accessible only by a rugged pathway and 120 steps. 

“We couldn’t afford a house in Mosman, so we bought a virgin block of land with an old concrete pool on its own title,” Leonie laughs, “people thought we were absolutely stark raving mad; and in hindsight we probably were.”

HUMBLE BEGINNINGS: Australia’s best residential property started as an unused, concrete pool - and took 15 years to complete!

With everything against them, including a death-defying 45-degree slope from street level, visionary Rob wanted to create a world class residence. 

“I had a dream of building the most sophisticated luxury villa in Australia,” he says, “and it turns out that the easy part was buying our own beachfront land, with the best views in Sydney.

“The problem that we didn’t ever anticipate, was finding a way to get DA approvals to build and construct the house.”

With no vehicle or waterfront access to the land - and no services, the Klaric’s only solution was to purchase - and then install - a huge tower crane on Parriwi Rd.

 “That really set the cat amongst the pigeons,” Rob says, “and it took six years, plus three Land and Environment Court applications, to get approval.”

“Luckily, I never give up on my dreams.” 

Permission for the construction of Villa Aqua wasn’t formally granted until 2009 – and just when they thought the fight was over, the real work began.

Earth works, including extensive excavation, the installation of 80 concrete piers to bedrock - and the removal of soil took another three years, before the ambitious build began in earnest, in 2012.

A view of the original swimming pool, where Villa Aqua now stands.

Architect Designed by the late Laurie Chiarella and Stephen Fayle (from Woodhouse and Danks), Villa Aqua slowly but surely took shape as a modern-day classic residence, offering sophisticated living over four levels.

“Yes, it was the most challenging construction of our careers,” joint Master Builders Vili Cubelic and Stephen Mallinger tell me, “but also the most rewarding experience for everyone involved in the project.”

With its unique 30 metre beach frontage, these days Villa Aqua is comfortably accessed by a cable car, that smoothly descends the 40 metres from street level, down to a spectacular waterfront palace boasting front row seats on Sydney Harbour.

Showcasing classic Mediterranean villa design, the home has a strong emphasis on entertaining and living, with each level accessed by a bespoke Turkish marble staircase, an engineering feat in itself. 

Meticulous attention to detail is what makes Villa Aqua a residence like no other, and although they won’t reveal the final cost, Rob and Leonie agree their dream home is “priceless”.

Entry level has been purposely designed for luxury living, and the vast open spaces provide a perfect mix of both casual entertaining and formal rooms. Naturally, there’s a commercial grade, designer kitchen, with a Carrara marble island, a 1000 bottle walk-in cellar – and a glamorous infinity pool.

Four bedrooms all have American walnut cabinetry - plus Turkish marble bathrooms - but it’s the Klaric’s very own ‘Presidential Pavilion Suite’ that is beyond breathtaking, with floor to ceiling glass, a private hotel style mini bar, his and hers showers and a freestanding bath that looks out to Sydney’s spectacular harbour. 

 “It is a beachfront home that you could never put a price tag on,” Rob says, “because there’s nothing else like it anywhere in the world.  

WINNERS: Rob and Leonie with their coveted award.

“A huge part of our married life has gone into creating our dream home and after everything I’ve put her through, it’s a miracle Leonie is still with me,” Rob says with a cheeky smile. 

“I could never have taken on – or achieved - this massive project without Leonie’s love, support and faith in me.

“The reality is that without my wife, nothing would ever have been possible and I don’t have the words to express the gratitude she truly deserves.”

Standing on the terrace, with an ocean of tranquil, turquoise water stretched out before them, Rob and Leonie Klaric share a smile as they take in their incredible view.

“Not bad for the son of a refugee from the other side of the tracks,” he says.

Not bad indeed.

FAIRLIGHT COMMUNITY RALLIES AROUND YOUNG FAMILY TO FIND A HOME BY KATHRYN WELLING MANLY DAILY

Fairlight community rallies around young family to find them a home by Kathryn Welling 6th Sep 2019

Anthony Geddes, Eva Rehnberg and their son Alexander Geddes at the Fairlight apartment they are selling in order to find a home with a garden.

The Fairlight community is rallying around a young family battling cancer by trying to help them find a new forever home.

Former policeman Anthony Geddes, 51, is recovering from a rare and aggressive cancer, plus he has Motor Neurone Disease and lost the use of his hands.

He is selling his Fairlight unit and looking for a forever home for himself, his wife Eva and their son Alexander, 2.

The couple met in East Timor where Mr Geddes was serving with a UN mission and Eva was a nurse from Sweden.

They returned to Australia and bought and renovated an apartment in Fairlight which they are now auctioning.

Mr Geddes said he has been humbled by the support of people from St Matthews Church in Manly and generous real estate agents who have paid for a regular cleaner at the unit, supplied nutritious meals for the family, babysat and inspected possible homes for the family.

They are especially grateful to Robert and Leonie Klaric for vetting possible next homes. Mr Klaric is a local and the author of the book, Secrets of The Property Expert.

The light living and dining area in the apartment.

The Geddes family was keen to come to market in spring while buyers were plentiful and real estate agent Alex Augustyniak of McGrath Dee Why advised them to sell first so they knew exactly how much they had to spend on their next home.

Eighty-two fresh properties hit the peninsula market this week, five of them in Fairlight, but Anthony and Eva are hoping buyers will be drawn to their two-bedroom apartment with its spectacular harbour view.

PUBLISHED IN THE MANLY DAILY 6TH SEP 2019 BY KATHRYN WELLING

Media Interview Controversy with my comments - A Current Affair - Robert Klaric - Exclusive Property Market Report opinion on what will happen next?

'

If You missed the exclusive interview on 'A Current Affair' click on the link to watch it now:
 

https://youtu.be/IeIzdj8MBAA

More 'Controversy' from my exclusive interview and comments on the Nine 9 Network Australia 'A Current Affair' award winning program. 
 
It was controversial!... Due to my comments to ‘Call the markets, as I see it happening’ and the fact that many leading people in the ‘Property industry and media’ publicly did not agree with me?... 
 
It’s very easy and clear to see as of today, that all my Market comments and Property predictions made over the last 18 months were and are 100% correct!...
 
And I stand by the comments that I have made on 'A Current Affair' program about the rapidly changing Property Market in which I said,
'This is going to be a rollercoaster ride in Real Estate over the next couple of years' 

Leonie and I have over 30 plus years 'Property Experience' helping advising clients on How to successfully 'Buy and Sell' and we have personally been involved in every 'boom and bust' real estate market cycle over this period and it's safe to say that we are now sailing into 'Uncharted Property Waters'...
If you need any Professional Property help or Advice please call on 0411622257 or email us at robert@thepropertyexpert.com.au 
 

Kind Regards,
Rob & Leonie Klaric
The Property Expert International
0411622257
robert@thepropertyexpert.com.au
www.thepropertyexpert.com.au

Interview Studio 10 Property Predictions for 2019

Earlier this year I was interviewed on ‘Studio Ten’ on Network Ten by the talented team of presenters including Joe Hildebrand, Natarsha Belling, Ita Buttrose, and Jo Casamento about my predictions on the ‘Property Market’ and what would happen in 2018?.
 
It was controversial!... Due to my comments to ‘Call the markets, as I see it happening’ and the fact that many leading people in the ‘Property industry and media’ publicly did not agree with me?
 
It’s very easy and clear to see as of today, that my Market comments and Property prediction were 100% correct!...
 
The Sydney Auction clearance rate as of last weekend the Saturday 15th December 2018 was only 41% the lowest auction clearance rate since the ‘boom and bust’ market in 1989 which saw the auction clearance rates in the early 30% range.
 
Interesting to see that the same time last year the Sydney Auction clearance rate was at an average 60% in 2017 which was 20% higher than today's auction market clearance rates in 2018.

My official ‘Media Press Release’ as June 2018 this year was written as follows:
 
‘The property market in Sydney has now officially ‘Adjusted’ and the Boom is Over!... And as I indicated that the Property Market would correct in 2018 and will experience a decline in property growth and prices.

I stand by my professional opinion and comments that, if you are a 'seller' in the market? Look to sell in the first half of 2018, and if you were a buyer, the better buying opportunities will present themselves in the second half of the year. 
The main 'reason' is that we will see an oversupply of new apartments coming on to the market and many are in the so called 'risky suburbs'...
that is that the suburbs with more restrictive finance and lending criteria for purchasers.
 
Please click on the link below and watch ‘The Property Expert’ exclusive Interview on 'Studio Ten’ about the Property Market Prediction and let us know your thoughts and opinions. 
 

https://www.youtube.com/watch?v=9t1y31oxYW0

NOW LET'S ASK THE 'REAL' PROPERTY EXPERT - ABOUT THE '60 MINUTES' SPECIAL PROPERTY MARKET CRASH INVESTIGATION - 'BRICKS AND SLAUGHER'

The 60 Minutes Special investigation - ‘Bricks & Slaughter’ – Claimed the Property Market could Crash by 40%... It was ‘Sensationalism’ at its very Best.

 Now everyone has an ‘Opinion’ about the Real Estate Property market?... But, who can we really ‘Trust’… who is ‘Right or Wrong’ with their ‘Real Estate Market’ opinions?... Who do you really ‘ask’ for some ‘Real’ answers on what is actually happening in the market?

So Let’s start with asking the ‘Real’ property questions?...

And start by interviewing the ‘Real Property People’ with ‘Real Property Experience’ and not ‘Reporters, Economists and Data Analysts’ who look at numbers and spreadsheets to come up with their ‘mystical conclusions’ of what will likely happen in the ‘property market’ for the future.

Ask the ‘Real Property People’ who have actually invested ‘Real Money and time’ in to the ‘Real Estate Market’ over many decades and are entrenched in the property markets daily.

 As a ‘Real’ Property Expert with over 30 years’ Experience working every property market since 1988… Auctioneering, Buying, Selling, Negotiating, Developing, Mentoring and educating property consumers on all types of ‘Real Estate Markets’ every year.  

Leonie and I, have ‘lived and breathed’ real estate our whole life. including personally working and investing through the ‘Boom and Bust’ markets and the ‘Property markets with low interest rates from 4% to markets with high interest rates from 17%’ … 

As a ‘Property Expert and Consumer Advocate’ our professional recommendation for all our friends and clients is to research the ‘real’ market facts and results that matter for you and continue to monitor auction activity and sales in your area.

And check auction clearance rates and final results after all the numbers are in over a 6 Week period and that will start to give you a ‘real snapshot’ and your ‘finger on the pulse’ of what the property market is actually doing in your area.
 

The ‘One thing’ that was Guaranteed in our property markets in 2018… it was always going to ‘Adjust and Correct’ after such a long protracted ‘boom market’ period, and as I correctly ‘predicted’ the property markets would start to correct itself as stated in the media back in 2017 and again on National Television in early 2018.

Call me ‘Nostradamus’…But, I got it right!... I was the only ‘Property Expert’ to correctly predict the ‘Adjustment to the Property market’ in 2017. It was at the beginning of 2017 on ‘The Today Show’ on Channel Nine, when I was interviewed by presenter Sylvia Jeffreys about my predictions on the ‘Property Market’ and what would happen in 2017?... and I was 100% correct!

 It was controversial!... Due to the fact that many leading people in the ‘Property industry, Analysts and Media’ did not agree with my comments at the time?...

 It’s very easy and clear to see as of today, my comments and predictions were 100% correct!...

The Sydney Auction clearance rate as of the last big Auction weekend on the Saturday 15th September 2018 was only 52% a ‘Six year auction clearance rate low’.

The same time the year before the Sydney Auction clearance rate was 75%, a 23% higher clearance rate than today’s market in 2018.

The property market in Sydney in 2018 has now officially ‘Adjusted’ and the ‘Boom’ is well and truly officially over!... and as I indicated professionally that it would happen in 2017, and now in 2018 will continue to experience a decline in property growth and home prices.

I indicated that the property market will continue to slow down and adjust this year.

It’s Not a ‘Crash’… It’s an ‘Adjustment and Correction’ in the property market of around 20% for new apartments and 10% for established homes within a 20 kms radius of the CBD and potentially higher for outer Sydney and Melbourne Suburbs over the next 12 months in 2019 is foreseeable.

The main ‘reason’ is that we see an oversupply of new apartments coming on to the market for sale and many apartments are in the so called ‘risky suburbs’ for major Bank lenders… especially the outer Sydney suburbs that are 20 plus kms away from the CBD with many suburbs having a more restrictive finance and leading criteria for purchasers.

We will also see in Australia, what I call the ‘International disruption’… as our property markets will react to what will be a very disruptive ‘global economy’ with China’s economy slowing and investment in purchasing apartments off the plan in Australia rapidly declining, the leadership in the USA creating global and financial volatility in many markets with new Tax tariffs.

In conclusion, if you are thinking of buying or selling ‘property’ over the next 12 months do it with ‘extreme caution’ and do your own ‘research and homework’.

And if you need any Property ‘Help or Advice’... Just call us on 0411622257 or email directly to; robert@thepropertyexpert.com.au

Please ‘Click on the Link’ below and watch ‘Robert Klaric – The Property Expert’ Exclusive Interview on Studio 10 Highlighting what’s happening in the ‘Property Market’ in 2018…   

 https://www.youtube.com/watch?v=9t1y31oxYW0

MORE MARKET 'CONTROVERSY' WITH THE PROPERTY EXPERT INTERVIEW ON 'THE TODAY SHOW' ABOUT THE BOOM IS OVER AND MY 'PROPERTY PREDICTIONS FOR 2018'...

Call me 'Nostradamus'... But, i got it right!... I was the only 'Property Expert' to correctly predict the 'Adjustment to the Property market' in 2017. It was at the beginning of 2017 on ‘The Today Show’ on Channel Nine, when I was interviewed by presenter Sylvia Jeffreys about my predictions on the ‘Property Market’ and what would happen in 2017?... And i was 100% correct!
 
It was controversial!... Due to the fact that many leading people in the ‘Property industry and Media’ did not agree with my comments at the time?...
 
It’s very easy and clear to see as of today, my comments and prediction were 100% correct!...
 
The Sydney Auction clearance rate at the end of 2017 as of last big Auction weekend on the Saturday 9th December 2017 was only 58% a 'Two year auction clearance rate low'.
 
The same time the year before the Sydney Auction clearance rate was 73%, a 15% higher clearance rate than today's market.
 
The property market in Sydney in 2018 has now officially ‘Adjusted’ and the 'Boom' is officially Over!... And as I indicated professionally that it would happen in 2017, and now in 2018 will experience a decline in property growth and home prices.

So now we have more 'Controversy' from my interview with Sylvia Jeffreys on Australia's leading breakfast program on the Nine Network 'The Today Show' about my 'Property Market' prediction for 2018!... 
I indicated that the property market will continue to slow down and adjust this year. 
Not a 'Crash'... but an adjustment in the second half of this year. 
I stand by my professional opinion and comments that, if you are a 'seller' in the property market in 2018? Look to sell in the first half of this year, and if you were a buyer, the better buying opportunities will present themselves in the second half of this year. 
The main 'reason' is that we will see an oversupply of new apartments coming on to the market for sale and many apartments are in the so called 'risky suburbs'... Especially the outer Sydney suburbs that are 20 plus kms away from the CBD with many suburbs having a more restrictive finance and lending criteria for purchasers.
We will also see in Australia, what I call the 'International disruption'... As our property markets will react to what will be a very disruptive 'global economy' with China's economy slowing and investment in purchasing apartments off the plan in Australia rapidly declining, the leadership in the USA creating global and financial volatility in many markets.

Please click on the 2 links below and watch 'The Today Show' 2018 interview and read the property boom is over news story and let us know your thoughts & opinions. 

https://www.youtube.com/watch?v=Ia1X9W6e9-s&t=6s&index=1&list=PLQPVJFnTq9sLRBZ7bAedPGymJ9SjAiBEq


http://www.dailymail.co.uk/news/article-5169885/Property-boom-Sydney-Melbourne-say-experts.html



 

AS PUBLISHED IN THE DAILY MAIL - THE BOOM IS OVER....

Australia's record housing bonanza that's turned Sydney and Melbourne homeowners into millionaires FINALLY ends - so when should you sell and how long until you can grab a bargain?

• Property experts are announcing the end of Australia's enormous property boom
• Sydney and Melbourne saw property prices drop during the September quarter
• Buyers are being warned to stay out of the market for at least the next six months
• A real estate expert has issued a dire warning for house prices in Sydney's west

By Josh Hanrahan For Daily Mail Australia

Published: 16:43 AEDT, 13 December 2017 | Updated: 08:29 AEDT, 14 December 2017

After years of record growth, both Sydney and Melbourne have seen property prices slow or go backwards in recent months, ABS statistics released on Monday revealed.

It comes after a weekend where the clearance rate for homes put up for auction fell to just 58 per cent, a drop from 73 per cent at the same time last year.

And now experts in the industry are claiming the bubble has finally burst, warning buyers to now sit tight for at least the next six months until things calm down.

One of the biggest property booms in Australian history is over, with real estate experts now telling prospective buyers not to enter the market in either Sydney (pictured) or Melbourne

This four-bedroom mansion in the Sydney suburb of Hunters Hill was initially listed at close to $6 million, but its owners were forced to settle for just $4.8 million in 2017.

Auctioneer and real estate expert Robert Klaric, who has worked in Sydney for more than 30 years, says he's finally willing to declare that the boom is done.

'I'll call it and say it's over,' Mr Klaric told Daily Mail Australia.

'It's been by far the biggest and sustained boom I've seen. Really since 2012 its been a steady increase, with the biggest growth in the last three years. 

'But from next year it will be an adjustment to a sustained market at 10 per cent or so lower... from about July there'll be a smorgasbord of cheap properties to pick from.'

On Monday the ABS released statistics showing property prices fell by 1.4 per cent in Sydney alone during the September quarter.

This is the first time prices have gone backwards in Sydney since early 2016.

Robert Klaric (pictured), who has worked in Sydney for more than 30 years, says he's finally happy to declare the boom is done

In Melbourne, property prices increased by seven per cent, just half the rate they increased in 2016.

According to Shane Oliver, AMP's chief economist, it's confirmation the seemingly never ending growth in the property market has come to an end.

'I think the boom is certainly over, but in saying that, it mainly relates to Sydney and Melbourne, where the boom has been,' Mr Oliver told Daily Mail Australia.

'In Sydney, the bubble has well and truly been pricked... and the ABS data today has well and truly confirmed that we're seeing price declines. 

'Melbourne is a little bit stronger, it does seem to be following Sydney down, but it's getting a bit of support from a higher population growth.'

At its peak the property boom led to homes across Sydney rising in price by as much as $370,000 in under two years.

But home owners have found it harder to sell recently, with one particular home in the Sydney suburb of Hunters Hill taking almost 200 days to sell.

When the owners did find a buyer it was at $4.8 million, a massive drop down from the initial asking price of almost $6 million.

Describing the housing markets outside the nation's two biggest cities as 'messy', Mr Oliver said he would also be advising potential buyers to bide their time.

He predicts it will be up to 18 months before prices rise again, but can't see a severe housing crash on the horizon.

'Are we going to have a crash? Probably not, unless we have higher interest rates or higher unemployment it's hard to see a crash coming,' he said.

'I think it's just another correction in the property market. In 2005, 2008 and 2012 we saw declines in Sydney so it's probably just correcting itself which I think is healthy.'

Perth, Darwin and Canberra also experienced falls in property prices last quarter as Brisbane and Adelaide saw slight increases.

While the facts are seemingly clear, Mr Klaric says many real estate agents are still refusing to admit it's over.

'The numbers coming out are shrouded in secrecy, but the one thing that never lies is the auction clearance rate,' he said.

Read more: http://www.dailymail.co.uk/news/article-5169885/Property-boom-Sydney-Melbourne-say-experts.html#ixzz51HgVO1vv
Follow us: @MailOnline on Twitter | DailyMail on Facebook

http://www.dailymail.co.uk/news/article-5169885/Property-boom-Sydney-Melbourne-say-experts.html

WHEN SYDNEY WAS BOOMING: 

- A four bedroom home at Narraweena sold in 2017 for $1.7 million, less than two years after selling for $1.35 million in 2015.

- Also this year, a two-bedroom unit at Freshwater was sold for $950,000 just three years after being bought at $645,000

- In 2017 a three-bedroom home in Marrickville sold for $1.2 million. It had last been sold for £300 in 1915.

- A fire damaged home in Redfern sold for $1.6 million in April this year, having fetched $275,000 when last sold in 1994 - an almost 600 per cent increase in the past 23 years.

- A waterfront home in Watsons Bay sold at auction for $14.2m in October this year, having been valued at $950,000 in 1993

Source: Mario Esposito, McGrath Estate Agents - Dee Why

'On Saturday it was 58 per cent... while the actual figure is probably a lot lower, but agents are not giving actual figures.

'Agents say 'we're still negotiating' or 'the clients don't want to disclose', when it's actually the agents who don't want to disclose because they've passed it in.'

A total of 249 properties were passed in at auction over the weekend, while 130 were withdrawn beforehand. 

Mr Klaric believes the end of the boom will lead to a change in thinking on investing and is predicting that could be disastrous for Sydney's west.

He says people have already moved away from buying off the plan and are searching for a lifestyle, something he said will keep city prices steady. 

'People now want specific locations with lifestyle and infrastructure. If areas have got that then the impact won't be as brutal,' he said.

'If you said I want to live in Sydney, or in Bondi, Mosman, Manly or Chatswood, they all offer a lifestyle and infrastructure to get to the city, so they will adjust.

'But out in the west we could see absolute carnage.' 

Mr Klaric is advising his clients to steer clear of the market, saying if they wait at least six months they could snag a bargain.

'The market's been playing by the FOMO (fear of missing out) process and the reality is it was flamed by the real estate industry and the media,' he said.

'Now's the time to just sit back, relax and watch, because from about July next year it will be a smorgasbord to choose from at a discounted price.

'Renters will also get a lot more new properties coming onto the market and there is going to be a glut of units in the market. 

'If you're looking to rent a two-bedroom apartment within a 10-15 kilometre radius of the city there will be a heap of options all a lot cheaper than they are now.

Read more: http://www.dailymail.co.uk/news/article-5169885/Property-boom-Sydney-Melbourne-say-experts.html#ixzz51HhnnSUA
Follow us: @MailOnline on Twitter | DailyMail on Facebook

A FEW WORDS FROM MOTHER TERESA, MAHATMA GANDHI AND MUHAMMAD ALI

Both Leonie and I, have been very 'Privileged and Honoured' to be selected as the ‘Trusted Advisors and Advocates’ for so many of our friends, clients and VIP celebrities over the last 12 months. We have proudly represented and provided professional property advice on ‘Buying and Selling’ throughout Australia and Internationally.
 
We would like to take this opportunity to wish you a very Merry Christmas and
Happy New Year and we look forward to being of service once again in 2018.

Kind Regards,
Rob & Leonie Klaric
The Property Expert International
0411178828

PROUD AMBASSADOR FOR JUWAI.COM (WORLDS BIGGEST CHINESE PROPERTY WEBSITE)

澳洲买房如何避免被“Gazumping（抬价敲诈）”？| 澳洲

2017-11-17  来源：居外原创

今天居外专栏作家来教您一个澳洲房产界专业术语，“Gazumping（抬价敲诈）”…… 

对于任何计划在澳大利亚购房的买家来说，房产交易中的“Gazumping（抬价敲诈）”一词，大多数人并未真正理解，也不希望听到或碰到这种遭遇。

“Gazumping（抬价敲诈）”具体是指什么呢？

简单来说，卖家接受买家的出价后，又改变主意，决定接受其他买家的出价——通常更高，即发生“Gazumping（抬价敲诈）”。

许多买家在购房谈判过程中都碰到过被抬价敲诈的悲惨遭遇，他们很想知道如何改变做法，才能避免错失心仪房源后的失望和沮丧。

这里重点强调许多买家的一种常见误解：他们认为，当卖家接受买家的出价时，交易就完成了。

事实并非如此，尤其是在房地产市场大热时。买家经过一番激烈的竞争才能购得心仪的房产，而卖家只会心花怒放，放弃与其中一位买家谈判，转而接受另一位买家的出价。

这是一种非常不幸的窘境，许多买家不理解怎么会出现这样的结果。

>>>澳洲置业百科：澳洲购房流程

查看更多居外网澳洲优质房源

成功购得心仪的房产，避免被抬价敲诈的唯一方式是，买卖双方通过签署售房合同，明确买家的出价和卖家已接受该价格，同时在合同附件中约定一定金额的订金——通常为10%。

然后可以立即执行合同交易。再然后，房子就是您的了。在执行合同交易之前，严格来说房子仍在市场上销售，无论您与销售代理、律师或卖家达成了怎样的口头协议。

因此，在您的代理商确认交易完成之前，千万不要以为大功告成，可以买一瓶昂贵的香槟庆祝了。

请务必牢记的重要事项：

• 提供书面出价材料。
• 确保代理商已将您的书面出价材料交给卖家。
• 如果可能的话，亲自与业主会面，当面达成协议，握手示意，感谢彼此达成协议。

如果卖家见过您，并且亲自接受您的出价的话，他们通常更难抬价敲诈您。

切记，“笔杆子比枪杆子更硬”！在任何房产交易谈判时，都务必向您的房产代理商和律师提供完整的书面材料。

（请点击以下链接，从新南威尔士州公平交易厅（NSW Department of Fair Trading）网站上了解更多“Gazumping（抬价敲诈）”相关信息。）

祝您好运，愿您购房谈判顺利。

作者：罗伯特·克拉里奇（Robert Klaric）
克拉里奇合伙物业咨询公司（Klaric Partners Property Consultants）

罗伯特和莉奥妮克拉里奇（Robert & Leonie Klaric）
国际物业专家，获奖顾问
最畅销书《物业专家的秘密》——您的房地产生存指南的作者
www.thepropertyexpert.com.au

责任编辑：Zoe Chan

本文系居外网独家稿件，未经授权，不得转载，否则将追究法律责任。

BEAUTY POINT VS BALMORAL .... AS FEATURED IN DOMAIN.COM

Beauty Point vs Balmoral

The Beauty Point sale comes as Mosman’s Balmoral slopes area saw a dramatic up-tick in foreign buyer purchases this year, marking a dramatic turnaround in recent years in which Beauty Point had seen the most off-shore buyer interest.

Beauty Point had garnered the lion’s share of Chinese buyer attention in the years after high-profile Chinese property developer Huang Xiangmo bought his Bay Street mansion for $12.8 million in 2012.

However, of the 45 registered prestige sales in Mosman this year all but 30 were in the Balmoral slopes neighbourhood and almost half to recently arrived Chinese immigrants or foreign buyers.

That’s a distinct turnaround on recent years, said Robert Klaric, of the buyer’s advisory and advocacy service The Property Expert.

“The Chinese centre of gravity on the Lower North Shore has shifted from Beauty Point to Balmoral and the pocket around Chinaman’s Beach,” said Klaric.

Of the 15 prestige house sales elsewhere in Mosman, only one was to a foreign buyer.

“That’s partly because there isn’t much stock on offer in Beauty Point compared with Balmoral this year, but also because new arrivals prefer the feng shui of Beauty Point but Chinese buyers who have been here for a few years are just discovering Balmoral,” said Ms Tu.

Nine months into 2017 and Juwai’s Ms Lu doesn’t see this year topping last year in terms of Chinese investment in Australian real estate.

“The year 2016 was the biggest yet recorded for Chinese investment in Australian real estate. We believe that 2017 is competing with 2015 for the rank of second or third biggest year.” 

SYDNEY AUCTION MARKET HAS 'WORST START' TO THE SPRING MARKET SINCE 2012' ... WHAT WILL THE PROPERTY MARKET DO NEXT?....

With over 30 years of real estate experience, working every aspect of the Australian property market, including 'Boom and Bust'. I have personally and professionally witnessed the pain attached to a market 'crash' and in my opinion what we will see in our real estate market in Australia is a significant 'adjustment' and not a 'crash' to the house prices, especially in cities like Sydney and Melbourne, where ‘Choice areas close the CBD’ continue to see good demand for quality property. However, the property market simply ‘Can not’ sustain itself at the high price levels we have witnessed over recent years and what is being played out in the 'Auction arena' every weekend for the world to see. The real estate markets around the world have proven that markets do not simply just continue to grow 10% yearly, without a correction or adjustment along the way. In my opinion we will now see ‘No Growth’ in property over the next 12 months. Please click on the link below and let me know your thoughts and comments via email on the marketplace… 'Boom, Bust or Price Adjustment'.

Click on the news link below;

https://www.domain.com.au/news/sydney-auction-market-has-worst-start-to-spring-since-2012-20170903-gy9pau/

If you are interested to learn ‘what to do and how to negotiate real estate in a changing Property Market’ & would like to attend ‘The Ultimate Property Investor Event'...

I am ‘honoured and privileged’ to be a ‘Keynote’ speaker for 'The Ultimate Property Investor Event' alongside 10 Experts on Saturday 16th September 2017 at ‘The Mercure Hotel Sydney’.

Please click on the link below to purchase tickets to attend as numbers are limited;  

 

MORE 'CONTROVERSY' WITH THE INTERVIEW ON THE 'THE TODAY SHOW' ABOUT MY PROPERTY MARKET PREDICTIONS FOR 2017.'

More 'Controversy' from my interview with Sylvia Jeffreys on Australia's leading breakfast program on the Nine Network 'The Today Show' about my 'Property Market' prediction for 2017!... 

I indicated that the property market will have an adjustment this year. 

Not a 'Crash'... but an adjustment in the second half of this year. 

I stand by my professional opinion and comments that, if you are a 'seller' in the market? Look to sell in the first half of this year, and if you were a buyer, the better buying opportunities will present themselves in the second half of this year. 

The main 'reason' is that we will see an oversupply of new apartments coming on to the market and many are in the so called 'risky suburbs'... that is that the suburbs with more restrictive finance and lending criteria for purchasers as per the report that the Macquarie Bank made public in 2016. 

We will also see in Australia, what I call the 'International disruption'... As our property markets will react to what will be a very disruptive 'global economy' with China's economy slowing and investment declining, the change of leadership in the USA and the upcoming elections in Germany and France.

Please click on the link below and watch 'The Today Show' interview and let us know your thoughts and opinions. 

https://www.9now.com.au/today/2017/clip-cixfis10t00210ilfj4t76aep
 

THE PROPERTY 'BUBBLE'... THE REAL ESTATE 'CORRECTION' WE HAD TO HAVE!...

Our property markets have been overvalued now for many years, especially when you compare the Sydney or Melbourne real estate markets to any other major cities in the world. It is very easy to see that our markets have been in a bubble and there is a ‘Correction’ is on its way.
 
Please look at the ‘UBS Global Real Estate Property Bubble’ information graph below to see how overvalued our markets really are compared to the rest of the world ;

What’s made News for ‘The Property Expert’ in 2016…
 
We have been very 'Privileged and Honoured' to be involved in some of the biggest property negotiations in the Sydney prestige property market for our 'high profile and Celebrity’ clients. 

Some of our ‘achievements’ are listed below;
 
Highest Price ever achieved in The Upper North Shore for 26 Wattle Street, Killara -  $11.8 Million
 
Highest Price ever achieved in Northbridge - 57 Coolawin Road, Northbridge - $15.25 Million
 
Highest Price for Non Waterfront property in Clontarf - 4 Monash Crescent, Clontarf - $5.2 Million
 
Highest Price for Non Waterfront property in Seaforth - 16 David Place, Seaforth - $6.1 Million 
 
 
Leonie & I, would like to take this opportunity to wish you a Merry Christmas & Happy New year 2017.

ROBERT AND LEONIE KLARIC
 

NORTHBRIDGE'S RECORD SMASHING $15.5 MILLION TROPHY SALE TO CHINESE BUYER

A waterfront residence in Northbridge smashed the suburb record by more than 70 per cent when it sold on Saturday afternoon for about $15.5 million.

The trophy home was only on the market for a month before it was snapped up by an offshore buyer.

The result tops the previous high of $9.05 million set by the same residence when it sold in 2008 to Justin Reizes, who retired in March as head of equities giant Kohlberg Kravis Roberts.

View from the house at 57 Coolawin Road, Northbridge. Photo: Supplied

Reizes had listed the 1700-square-metre property with McGrath’s Michael Coombs and David Howe last month with initial hopes of $16.5 million following his recent resignation and the family’s move to Berlin. Robert Klaric, of The Property Expert, was brought in to help with negotiations on the deal.

There was strong interest in the property earlier this week, with half a dozen contracts issued and more than 70 groups having inspected the local trophy home.

Michael Coombs declined to comment on the sale despite a sold alert on the domain.com.au listing and a source saying there were competitive offers by about three buyers over the weekend.

Strong interest: 57 Coolawin Road, Northbridge was on the market for only a month. Photo: Supplied

It was previously owned by Jinwen Lin, a former director of Goldin Group, and Yu Lian Xu.

It is the third time the property has set a suburb high, having first done so in 2003 at $7.13 million when it was sold by Tenix executive director Robert Salteri and his wife Kelly.

Clearly there is much to recommend about the east-facing, waterfront residence. Set on a private beach with a boatshed and pontoon, it has landscaped gardens, swimming pool and an interior design by Hare + Klein.

Tops: 57 Coolawin Road, Northbridge sold for $15.5 million. Photo: Supplied

The result is the third highest on the lower north shore this year. The top result was in March at $16.5 million for the Cremorne waterfront residence of investment banker Campbell Lobb and his wife Susie when they sold to a buyer from China. Origin Energy’s outgoing chief Grant King and his wife Jenny then sold their Neutral bay trophy for about $16 million last month.

http://www.domain.com.au/news/northbridges-record-smashing-155-million-trophy-sale-to-chinese-buyer-20160909-grcood/