World's billionaires to keep Sydney's top homes in demand, says Knight Frank
Liam Bailey and Lord Andrew Hay of Knight Frank.
Liam Bailey and Lord Andrew Hay of Knight Frank. Edwina Pickles
Sydney is on the radar of the global high net worth individuals who buy the world's most expensive homes.
That is the view of Lord Andrew Hay, the global head of residential at agency Knight Frank – a 5000-strong team which claims a client base including over 1000 billionaires.
"I think Sydney is on the list ... the HNWIs are looking for security, for their assets and their family, and those places are hard to find," he said in Sydney on Tuesday. "The outpouring of wealth from the Middle East will continue for at least seven years, and I absolutely believe it will come to Sydney."
Lord Hay said London and New York were the busiest markets and both were near the top of the cycle. Sydney shows a similar pattern. But not one, not even London which is in what UBS described last week as "bubble" territory, will crash. "I think they will pause for 12-18 months, till people get used to the values, and then they will rise again," he said.
On the Knight Frank numbers, the price of London's premium homes will rise only 2 per cent this year. But by 2018 the values will be up 20 per cent.
Knight Frank's Prime Global Cities Index for the September quarter, released in London on Tuesday, showed double-digit price increases in Vancouver, Sydney (13.7 per cent) and Shanghai. Melbourne was fifth on the list at 9.4 per cent.
The index is now 34 per cent above its nadir in early 2009 but the pace of growth is slowing, and going backwards in markets damaged by government intervention such as Singapore, Moscow, Zurich and Geneva.
But Lord Hay was optimistic. In the last year, Knight Frank sold top-end property in London to buyers from 77 nations. The group has a client list of 29,000 HNWIs with an average buying price of £10 million ($21 million).
"I don't see that slowing because so much is going wrong with the world."
Lord Hay said HNWIs were far more discerning than in the past. "They are looking for a fantastic finish, which amazingly you cannot buy in New York," he said. "You see much better product in London, and Singapore. And what Lendlease is doing at Barangaroo is much better than in New York.
"They look for iconic buildings, great design and great lateral space. They want 10,000 square feet on one floor plate."
He noted the dramatic emergence of the Chinese developers in the United States, Britain and Australia and the way they had shaken up the locals. But, he said, they had yet to fully deliver.
"Building costs are rising steeply. The whole thing is not as easy as they thought." He acknowledged that Knight Frank, which claims 60 per cent of the prestige market in Britain, had yet to "crack" the sector in Australia.
"I have just done a three-year plan and Australia is top of the list," he said.
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Ran Bing Luan
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房价下跌，心虚，发文给自己壮胆。准备好过冬棉衣吧。
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屌丝都买得起房子了，必须已经下跌
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赶快去买两套压压惊
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人民币离岸中心与全球富豪有多大联系？你的意思是全球富豪都来悉尼炒人民币？那也是人民币大发了
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1.4 m 的慌啥啊，还有6.055m , 5.22m , 4m ,3m…… 都在接盘 。
富豪来买更是重量级的。
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1.4m就是个均价，还怕吃翔？
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谁说我1.4买的？ 没那么贵
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我觉得楼主最近有点受刺激了，房价有上下很正常，淡定一点。 天天号外给自己打气没啥意思，房市表现如何不以个人意志为转移。你买都买了，又不是还不起贷款，安心享受生活吧。
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Lz高价接盘，本来还满替你喊冤的，看你最近一些行为实在不敢恭维。没事劲找出这样的文章来给自己壮胆、忽悠别人。⋯别太无聊了！
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你自己说的，我也看了你的帖子。
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人家要买也不会买你的价位的房子,哈哈
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估计是最近睡不好觉，脑子晕了！说过的话老记不住！⋯⋯大家十分理解你的心情！别再胡言乱语自弹自唱了！
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啊哈哈哈哈 传说中的买完拼命找利好？？
别担心了 朋友
大家都是接盘侠
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楼主已经有点癫狂了 不过还是谢谢你分享，看下标题就好了。你不用辛苦贴那么多英文。
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脑补，继续脑补
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楼主很搞笑，好可爱。
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......
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楼主买房了，所以房价要跌，要暴跌，不会涨了，别自欺欺人了，别自我催眠、自我麻醉了。醒醒吧！
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涨和跌都不由你我说了算
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