On Thursday 17 October, Fortis welcomed over 60 high-net-worth and family office clients to, ‘An Evening of Luxury Property’, co-hosted with Commonwealth Private on the Pallas House rooftop. Guests enjoyed an evening of sunset refreshments, with canapés prepared by Neil Perry’s team at Margaret, setting the tone for a thoughtful discussion on Sydney’s premium property market.
The event featured a panel discussion facilitated by Ben Braysich, National Head of Property at Commonwealth Private. The panel featured notable industry experts, including Commonwealth Bank’s Chief Economist, Stephen Halmarick, Fortis’ Head of Design and Strategy, Cloudia Ingall, and CoreLogic’s Asia Pacific Research Director, Tim Lawless. Together, they offered valuable insights into the current economic climate, interest rates, and the trends shaping Sydney’s upper-end housing market.
Key insights from the panel:
- Tim Lawless shared that despite rising interest rates, demand in Sydney’s premium property market, particularly for high-end apartments, has remained robust. He noted that Sydney operates as a “microcosm” where demand outpaces supply, making it a unique environment within the broader housing market.
- Stephen Halmarick discussed the economic outlook, suggesting that while interest rates were previously expected to ease, the Reserve Bank of Australia (RBA) is likely to hold rates steady until early 2025, creating a cautious yet optimistic forecast for the coming year.
- Cloudia Ingall highlighted the exciting pipeline of luxury projects across Sydney’s eastern suburbs, including the highly anticipated launch of Regency House. She emphasised Fortis’ commitment to delivering premium, bespoke developments that continue to set a benchmark in luxury living.
The evening offered an engaging platform to discuss the resilience of Sydney’s premium property segment, as well as provide an exclusive market update for our valued clients. Fortis looks forward to continuing these insightful discussions and delivering exceptional opportunities in luxury property.
