Palm Beach isn’t the traditional stamping ground of Chinese buyers, though LJ Hooker Palm Beach principal David Edwards believes they might make an exception for the estate of the Australian opera legend Dame Joan Sutherland at 24 Rayner Road.
Graham Bennett of Ray White Freshwater said, “Normally 70 per cent of our buyers come from within a 5km radius,” he said. “But out-of-area buyers are seeing value in our suburbs and it has all changed.”
CoreLogic RP Data released that Palm Beach’s median sale price has fallen below $2 million at a fall over 24.4% over the last 12 months.
This is the first time in 10 years that the median price has dropped so low and sees Palm Beach ranked at 6th place on the Northern Beaches most expensive list. Continue reading “Palm Beach Drops To 6th Spot On Northern Beaches Most Expensive List”