Anthony Landau

Well, I think it's a logical move, right, because ultimately not everyone can live within the eastern suburbs.

And I think with the change in zoning, we are going to see more density in the east.

You know, it makes logical sense that, you know, buyers that are ultimately looking to buy kind of in Bellevue Hill, Rose Bay, Coogee, Tamarama.

get pushed out.

And so therefore, long-term, that has an impact on some of the suburbs that are kind of on the fringes or fringe rather of the eastern suburbs.

They will, by virtue, have price increases, which I suppose provide an enticing opportunity for an investor to go, I'll buy this today at X price with the knowledge that it'll be Y price down the line.

I think, look, generally speaking, property, particularly in the eastern suburbs, I

only goes in one direction over time, which is up.

But I would say that that will end up being the case more broadly as time progresses.

It's an interesting one because the change in the LMR or the zoning has actually impacted multiple suburbs, not just Rose Bay.

But what we are seeing as an office, and we've kind of spearheaded this change, what we're seeing is that it seems to be impacting Rose Bay more than the other suburbs.

For example, our office has sold, I think, four or five sites.

I've sold one personally for, it was circa $30 million where the houses were probably worth, I would say, probably $6 or $7 million each.

There was another one which a colleague of mine sold along Dover Road where, for example, one of the properties struggled to sell for $8.

They ended up getting $16 because essentially, with the change in zoning, what's feasible or

potentially feasible in these areas is significantly more and so that therefore lifts the value of some of these properties significantly almost double but the counter side to that is that there are a lot of people wanting to actually sell out of the area because they don't want to be in a suburb where there's lots of density which is going to be the long-term impact of this so you know i suppose there are winners and losers on both sides

I think that if you look at off-market versus on-market, look, at the very, very high end, off-market does seem to be kind of a growing trend where these properties that are trading at 30, 40, 50 million and beyond are selling very discreetly and quietly.

However, if we're

talking more broadly, I tend to think that as an owner and the agent, how can you have conviction that you are achieving the maximum price when you've only had a couple of people through and then receive an offer?

You don't have enough information to substantiate that.