Gina Reinhart, Australia’s wealthiest lady has pocketed over $5 million dollars in Sydney’s exceptionally hot real estate market, selling before even going to auction last week. Originally scheduled for a mid-week sale through LJ Hooker, the home was snapped up before by a keen purchaser, putting the property back at the level it had originally seen when it sold back in 2007.
The high-end market for the Sydney market seems to have gathered some pace, with a huge sweep coming in by plucky investors and owner/occupiers. With interest rates at the lowest rate they have been in a long time, the luxury market seems to be boding well from this. The easier access to money is making finance on these larger homes a lot more affordable, especially when a quarter basis point on interest rates can make the difference to hundreds of thousands of dollars a year.
Take a look inside one of the most exclusive property’s to hit the market this year.
Featuring 5 bedrooms, four bathrooms, a gorgeous pool and sensational harbour views, the home surely would have appealed to families who are looking for a spacious luxurious home. As for the Rinehart’s, it seems the property play has paid off with the property coming back in value to it’s 2007 price, after taking a dip of over a million dollars through the period.