Peek inside Sydney’s first underwater house

IN a city obsessed with real estate, property giant Ray White today announced it has sold the first underwater house in Sydney, with sky high prices prompting developers to forge new frontiers.

Ray White Sydney Blue CEO Jason Andrew said the harbour city was the pioneer in Australian underwater development working with local developers in a bid to combat record high land prices.
“The Ray White family is so proud to be associated in what we believe is the next frontier in real estate. We are currently looking to other states, calling on councils in Brisbane and Melbourne to clean up their waterways and create new developments for buyers looking to get a foot on the property ladder,” said the award-winning auctioneer.
“Everyone knows property prices have skyrocketed in recent years, especially in Sydney, but now that the local waterways are cleaner than ever before it has paved the way for developers looking to invest in the underwater market.”
Mr Andrew said underwater houses were “very attractive to those who have struggled to find a foothold in landlocked Sydney”.
“It opens up more space literally just next to the CBD and now everyone can have ocean views, and bring waterfront property to new heights, or depths!”
One of Sydney’s most respected and experienced real estate agents, Richard Harding, a director at Ray White Lower North Shore labelled the underwater market as “potentially limitless”.
“I have been selling property on the lower north shore for the last 25 years and I am so excited to see this new development under Sydney Harbour,” Mr Harding said.
While there had been some hesitation and trepidation from would-be buyers, Mr Harding said the underwater houses have been “really well received by buyers”.
The new owners of the first underwater home in Australia say the purchase was the best decision that they have ever made.
“We couldn’t pass up this opportunity to get into the underwater market, which frankly we believe is going to boom. There’s no reason now to take the kids to the aquarium too,” said the excited new homeowner.
“It’s such a quiet and safe neighbourhood down here. For us it’s a dream come true.”
Ray White Group predicts within 10 years some coastal markets will take hold too in the underwater development space.
“In this real estate obsessed city, we wonder what the next craze will be and we think the sky is literally the limit,” Mr Andrew said.
Media Contacts
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Alex Tilbury
Ray White Media Manager
atilbury@raywhite.com
0413 842 112