Overseas investors are driving top end property prices upwards, recent record sales show.
In the past week, three sales were brokered above $10 million to local buyers, including a mansion called Avon Court, which sold for $25 million.
The Australian Financial Review reported that overseas interest in prestigious homes has forced buyers to pay more for homes in this market segment.
"The prices are being driven because of the expat money coming into the country... local buyers for the last three transactions have stepped up, but they wouldn’t have stepped up to this level had they not been pushed".
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