Interest in high-end property in Australia's top lifestyle cities has never been higher – meaning buyers and sellers will benefit from having the right help on their luxury home journey.
As we continue into 2024, the luxury property markets in Sydney and Brisbane are thriving.
These locations are brimming with exceptional homes that cater to the tastes of high-net-worth buyers.
But with properties and buyers galore, there is stiff competition, coupled with a dynamic market.
So, we asked the luxury property experts at Atlas what buyers and sellers need to know before dipping their toes into the market in 2024.
Superior craftsmanship and enduring materials are a must for buyers in this segment.
Buyers demand exceptional homes
These days, high-end buyers are looking for much more than just a beautiful home. They're seeking properties that enhance their lifestyle and offer unparalleled value, shares Jarrod Perry, director of Atlas Brisbane.
"Quality design and construction are non-negotiable in the luxury market," he explains.
"Our buyers demand superior craftsmanship and enduring materials."
Views and location are also absolutely "crucial," he adds.
Plus, luxury buyers are seeking the wow factor with features like private home theatres, wine cellars, private gyms, expansive walk-in closets, and gourmet kitchens with custom fittings in demand.
"These amenities elevate their lifestyle and add exclusivity," Perry explains.
In 2024, there is also an increasing appetite for private wellness features and amenities, adds Michael Coombs, director of Atlas Sydney and Byron Bay.
"Buyers value time and lifestyle enhancements. Resort style pools, spas, personal gyms, ice baths, infrared saunas, and rooms for meditation are just a handful of amenities Atlas vendors look for,” he says.
Why it's important to find the right agent in the luxury space
Given the homes on offer and the competitiveness within the Sydney and Brisbane markets, both buyers and sellers, need a top agent for the best results, emphasises Coombs.
The right agent will elevate a luxury listing by taking a "tailored approach" and "leveraging the right marketing tools" to ensure the property gets the attention it deserves.
"In a competitive real estate market, having a unique and exclusive database of affluent buyers gives Atlas a significant edge," he explains.
"It enables agents to access and leverage information that is not available to competitors.
It's important to work with a trusted team when it comes to luxury property.
An exclusive network of affluent buyers, also means Atlas agents can deliver faster transactions, guiding both sellers and buyers through the sale efficiently.
Furthermore, Atlas agents are adept at negotiating high-stakes transactions and ensuring discretion and confidentiality.
"We also have expertise in handling complex legal and financial aspects, ensuring a smooth, personalised buying or selling experience," adds Peter Kakos, managing director of Atlas Sydney and Byron Bay.
Get the competitive edge
The luxury market in recent years has boomed, but that doesn't mean there haven't been tough times. Kakos says all sellers need an agency that can react quickly to market conditions.
"We consider our strength to not just be our adaptability but also our innovative approach to connecting with markets," he says.
"In 2023, a slowdown in local demand was noticed, and the focus was pivoted towards international clients.
"Technology enables us to list properties in such a way that a prospective buyer overseas can view them instantly. This is a considerable advantage in a competitive market."
Looking to buy or sell luxury property? Reach out to a local Atlas expert to take the first step.
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