A Younger Demographic Buying Prestige Properly In Sydney
A lot of young big spenders have been making purchases in Sydney’s prestige property market this month.
The largest sale went to Mike Cannon-Brookes, a software entrepreneur, who bought a weekend home in Palm Beach for AU$8.7 million. Cannon-Brookes and his partner Scott Farquhar started a company shortly after leaving university ten years ago. They used a credit card to start the company, for about AU$10,000. In 2011 the company brought in AU$100 million.
Also sold recently was the home formerly belonging to property developer Denis O’Neil, who listed the house on Iluka Road for AU$7 million in October. The house was designed by Walter Barda and is just a few doors up the beach from the Snapperman Beach home bought by Cannon-Brookes.
Other buyers and sellers of note are opera singer Amelia Farrugia and her husband Paul Chesher, Lois Harris, Guy Sebastian, Daisy Turnbull Brown, Tim Sims, Malcolm Halstead, and Victor Gan.