Savvy Sydney trophy home owners get the jump on property holiday hiatus

As the holiday hiatus in the property market ends next week, a few savvy vendors have jumped the gun to hit the market while the competition is still in vacation mode.

“The timing of sales campaigns have been stymied in recent weeks by the unusually late Easter coinciding with Anzac Day and the school holiday period,” said Domain research analyst Eliza Owen.

There are an estimated 300 auctions scheduled for this Saturday, less than half the 620 auctions of a month ago.

“We also saw a build up of auctions ahead of this big break which saw 730 auctions set for April 13, making it the biggest auction day of this year, so far,” Ms Owen said.

The number of new listings has also declined, more than is usual for this time of year. Based on the preliminary number of new listings in Sydney for April as of Friday, new listings were down 33.8 per cent from March, according to Domain figures, and down 32 per cent on April last year.

But prestige agent Bill Malouf, of LJ Hooker Double Bay, said prestige vendors shouldn’t wait.

“We’re running out of time to be on the market before high-net-worth buyers head overseas for that June-July winter holiday period,” Mr Malouf said.

“I would expect vendors with double-digit price hopes to be on the market as soon as possible because that winter break is a non-negotiable holiday for these buyers.”

Mr Malouf kicks off the campaign to sell the Point Piper waterfront home of JPMorgan’s recently appointed co-head of investment banking for the Asia Pacific Paul Uren and his wife Jennifer on Monday given the couple’s move to Hong Kong.

Buyers are expected to pay about $18 million for the Wolseley Road property.

Also hitting the market with $18 million hopes is the recently renovated Bellevue Hill house of former Multiplex boss Andrew Roberts and his wife, Andrea, just four years after they bought it for $15.6 million.

Brad Pillinger, of Pillingers, said buyers should not put off listing until after the federal election.

“Now is the ideal time to launch or be on the market because people have already adjusted their thinking to expect a change in government, so no matter what the result on May 18, those vendors already on the market should score a boost about mid-way through their campaign.”

Jonathon De Brennan launched the sale of Mosman trophy home Almora House owned by tech entrepreneur and former young rich lister Simon Clausen on Easter Saturday.

“Traditionally we would wait until the holidays are over but launching early was clearly the right move. We had 70 enquiries within 24 hours of hitting the internet. That’s unprecedented for us and would ordinarily take two to four weeks to get that sort of response,” Mr De Brennan, of De Brennan property, said.