Luxury Real Estate

By Michael Marquette of Marquette Turner Luxury Homes

It’s the question asked in good and bad times – where should you buy to make the most of your investment? I promised last week that I’d reveal my best picks in Sydney and I will do my best to make it easy for you to choose a great home, whatever your budget.

There are many ways to determine the right property for you and also gain the most in terms of growth or yield, but where do you start?

Although this might sound crazy the first thing you need to do is determine how much you can truly afford and lock the interest rate in. This gives you certainty in what can be unforgiving territory. There are plenty of people who have borrowed their maximum amount and are being burned by prices which have come down from their peak. My advice is borrow only 80% of what the bank is prepared to lend you – it gives you an inbuilt margin of safety.

There will also be some weighing up to do in deciding if yield or growth is important for you. I would also choose a suburb which offers both as the home may not always be your primary residence or if it’s an investment you may want to move in at a later time. Always look for infrastructure like trains, buses, schools, road quality and hospitals. They generally lift the desirability of a suburb which can only benefit you as time goes on.

Look for things which increase ambience like the number of trees in a suburb. If a suburb looks great to you it generally will to others. If something is on a noisy freeway there are many people that will be put off so use your common sense and if in doubt ask friends and family their opinion or call someone at Marquette Turner Luxury Homes – we are always happy to offer a helping hand.

The biggest lesson in making money from property that I have learned is that you really do make your money when you buy. In other words if you overpay for the home initially you are really playing endless catch up and you stifle the full benefit of the purchase. If you remember this lesson you will choose a property to buy where prices have dropped and have plenty of upside while balancing growth and yield in making the decision.

So with that in mind here are my picks in Sydney. In the houses under $500,000 I can’t go past suburbs like Lakemba and Roselands. Substantial discounts are available, vacancy is very low and prospects for growth are good. These suburbs and their surrounds have not been hit as hard as western Sydney which I would continue to avoid, especially the land release suburbs which have not performed well.

In the housing bracket between $500,000 and $1,000,000 I just can’t go past terraces in parts of Surry Hills, Redfern and Darlington. These suburbs have plenty of great buys and Redfern and Darlington have growth upside. I like the Eastern suburbs – rental demand is high, infrastructure is good and whether you buy renovated or unrenovated properties you can win.

In the $1-$3 million range I really like Eastern Suburbs. The big choice here is between the East, The Lower North Shore and the Northern Beaches. I am very keen on Woollahra, Paddington, Waverley, Queens Park and Randwick. The suburbs close to Centennial Park are brilliant and have experienced price reductions of between 14 and 20%.

Anyone looking for their Palace over the $3 million mark has plenty of options and given that prices have decreased you will do very well in almost every Luxury harbour or beachside location. Next week I will look at the smart apartment buys in both Sydney and Melbourne.

By Michael Marquette
From his blog: Australia’s most expensive apartment SOLD in Potts Point

Potts Point in Sydney has achieved Australia’s record apartment price with a $20 million penthouse sale.

An undisclosed “prominent Sydney businessman” bought the apartment off-the-plan after the Sydney City Council approved the development on Monday.



The two-level penthouse, with views across Woolloomooloo Bay towards the central business district, Sydney Harbour and the Opera House, will have 530 square metres of internal space and 115 square metres of balcony.

The Wylde Street sale trumps an $18.2 million off-the-plan penthouse sale in East Melbourne and the $16.8 million Sydney record sale in Macquarie Street’s Bennelong block earlier this year.

The Ashington Group, chaired by mortgage broker Mark Bouris, bought the development site for $15.5 million last year, indicating it viewed Potts Point as one of the true urban villages of Sydney.

“The sale was a sign that buyers will act quickly for distinctive apartment product,” Ashington’s director, Craig Minahan, said yesterday.

The design by architects Tzannes Associates echoes the curved glazing and copper roofing in the neighbouring 1930s heritage-listed Wyldefel Gardens residential complex.

The nine apartments included in the development with the penthouse will have interiors by fashion designer Alex Perry.

Interestingly, the Australian newspaper incorrectly quoted the apartment as being in Point Piper, not Potts Point.


Editor’s Note:
Michael Marquette is the co-Founder and Director of Marquette Turner Luxury Homes, a member of Luxury Real Estate in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. Marquette and Turner just can’t stop providing excellent content like this for the Luxury Real Estate Blog. People are still interested in purchasing luxury properties for the right price. Keep looking for good news and you’re sure to find it.

By Michael Marquette
From his blog: The arrival of the luxurious Qantas A380 aircraft

On Sunday, September 21, Australian airline Qantas will welcome to Australia the first of 20 of its luxurious A380 aircraft, having flown via Singapore from the Airbus factory in Toulouse, France.


Affectionately referred to as the Super Jumbo, the A380 will be welcomed into the Qantas fleet at a ceremony in Sydney, which Simon Turner, founder of Marquette Turner Luxury Homes, has been invited to attend.

Marquette Turner Luxury Homes certainly recognizes the luxurious credentials of this amazing aircraft, and we are very excited at the prospect of viewing the best cabin design in the sky, which has been overseen throughout by world-renowned industrial designer Marc Newson.

Simon will have the honour of being one of the first proud Australians to view first-hand Marc’s stunning creative touch to all four classes on board the aircraft, First, Business, Premium Economy and Economy, which will no doubt truly reflect “the Spirit of Australia.” To view the interiors and take an interactive tour of the aircraft from the comfort of your chair, simply click here.

Qantas will operate its first A380 commercial passenger service from Melbourne to Los Angeles on October 20, 2008, and its first Sydney-Los Angeles service on October 24. Two additional A380s will be delivered by the end of 2008.

Simon will report back to you post-ceremony on Sunday.


Editor’s Note:
Michael Marquette is the co-Founder and Director of Marquette Turner Luxury Homes, a member of Luxury Real Estate in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. While some airlines falter in changing times, others thrive, like in this example. That’s wonderful that Turner was invited to attend this event. I look forward to hearing how it goes.

By Michael Marquette
From his blog: Donald Trump Provides the Future for Sydney!

Donald Trump is moving his focus to Australia with Sydney as the city set to benefit.

Having just released his Palm Beach property from his book, he is planning to move by the end of the year and real estate throughout the Harbour city is set to be changed forever. Sydney is set to lead the world in innovative luxury property, and those looking to rent or buy will benefit.

Trump Tower Sydney will be the most luxurious real estate in the country with 24-hour Luxury Concierge and apartments that resemble luxury penthouses. With the recent examples of the world’s tallest buildings in the world produced from forward-thinking economies such as Dubai and Qatar, could Sydney truly reach such levels?

The serious question, however, is whether Trump will really leave New York and help turn Sydney into the next Capital of the World?

Is this a dream or is this true?

The answer, unfortunately, is no.

All the hype and all the excitement spoken about above is all just that – HYPE!

If only Sydney was heading toward construction of the tallest or most luxurious property in the world. If only we were looking at world leading eco-friendly buildings which are self sufficient and utilizing both the sun and wind to power the building. The development at Frasers Broadway in Sydney is certainly progress in the right direction.

A city, however, with so much belief in itself has the opportunity to prove so much more.

Why is Sydney not developing this thought process or anything similar? The state government of New South Wales, so caught up in its own misery, in-fighting and lack of focus, is ultimately full of talk and very little action

A wise friend once told me that opportunity is like a $100 note – very few people reach out and grab it when it floats in front of them.

Sydney has every opportunity to be a global city – it would be such a shame to see such a chance float by.


Editor’s Note:
Michael Marquette is the co-Founder and Director of Marquette Turner Luxury Homes, a member of Luxury Real Estate in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. So, so true. Seize the day! The photo above is from www.flickr.com/photos/gradin/138770077 and it is the copyright of Olaf.

By Michael Marquette
From his blog: Where to Buy in Newcastle (Australia)?

Are you considering a sea change or thinking about which suburbs are in most demand in Newcastle? If you are, this information is essential reading. Earlier this month, I wrote about the massive 85 percent drop in sales in July this year compared to the same month last year for properties in the City of Newcastle.

If the trend continues many real estate agencies will close their doors and many agents will be forced to flee the industry. This staggering decrease in demand has put enormous pressure on pricing in the area and is causing many vendors considerable grief. So the question of where to buy to best protect your investment is more important than ever.

In Sydney, we have seen suburbs close to beaches and the Harbour hold their price the best. The outer suburbs, especially in the West have struggled and have significantly dropped in value. It really shows that as demand drops in an area price follows in the same direction.

In Newcastle, the Blue Ribbon suburbs of Merewether, Bar Beach, Cooks Hill and The Hill have all suffered from interest-rate increases and decreased buyer demand but nowhere near to the extent of rest of the City. Year-to-date sales in those suburbs are down 32 percent on the same period last year – not the massive reduction seen in the City as a whole.

These suburbs enjoy close proximity to beaches, Newcastle Harbour, cafes, restaurants and many enjoy spectacular coastal views. Purchasing a luxury home is all about location and the choice of suburb is crucial in protecting your valuable asset. This formula is true for all coastal cities and will help put you in the safest position.


Editor’s Note:
Michael Marquette is the co-Founder and Director of Marquette Turner Luxury Homes, a member of Luxury Real Estate in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. Very good information! Buyers definitely need an expert to help guide them through the pitfalls scattered across the current luxury market. The photo above is from www.flickr.com/photos/linksmanjd/2723754204 and it is the copyright of LinksmanJD.