WHILE the temperature is ice cold this winter, the Mosman prestige market is continuing its long heatwave, with yet another big sale.
The owner of 5 Milton Ave, Mosman, Sue Blanche has sold her long held six-bedroom property to an upper north shore family for $11.25 million.
The sale is the 14th property to have sold in Mosman for more than $10 million this year, according to CoreLogic.
Named Trebartha, the 1394sqm estate at 5 Milton Ave is the 14th sale above $10 million, in Mosman this year.
“People have confidence in the economy and they’ve made good money over the last few years,” he said.
“Prestige buyers are also less constrained by tightening lending criteria, as they are less dependent on borrowings.”
Mr Foote said locals were the most active in the Mosman prestige market, as they seek to upgrade to a larger home.
“The typical local upgrader is selling for $8 million and buying for $12 million,” he said.
The renovated Federation home has harbour views of the Sydney skyline, Opera House and Harbour Bridge.
It has a 12/4 Bisazza titled, solar heated, salt water swimming pool in the backyard, level lawns and a large rear terrace.
Ms Blanche paid $2.43 million for the property in 1997, according to CoreLogic, after she purchased the property from retired investor Colin Heckenberg, who now lives on the Gold Coast.