PHOTO: Across Sydney, Melbourne, Brisbane, Perth and the Gold Coast, the total value of transactions of super-prime residential sales with tennis courts was $682.8 million in 2020 across 38 transactions. Credit: Supplied.
Throughout last year, luxury properties with tennis courts have been in high demand across the country due to COVID-19 lifestyle changes, according to recent research conducted by Knight Frank.
The real estate agency’s Australian Residential Tennis Court Premium 2021 report assessed the sales performances of Australia’s ‘super-prime’ residential properties with a tennis court, which were defined as the most desirable and most expensive properties in a given location, generally known as the top one per cent of each market by value.
The research revealed that across Sydney, Melbourne, Brisbane, Perth and the Gold Coast, the total value of transactions of super-prime residential sales with tennis courts was $682.8 million in 2020 across 38 transactions, up by 230 per cent on a weak 2019, when there were just 14 transactions.
“Every Australian city analysed had overtaken the 2019 sales volume in 2020, with Sydney being the strongest performing market,” Knight Frank Head of Residential Research Michelle Ciesielski said.
While Perth’s market recorded the greatest uptick of 453 per cent in properties with tennis courts throughout 2020, Ms Ciesielski said this figure only included two sales totalling $41.5 million.
“In 2020, Sydney saw $436.6 million of tennis court-featured super-prime sales across 22 transactions, although this total volume fell short by three per cent of surpassing its highest volume reached in 2018,” she said.
“Melbourne was next with $134.6 million worth of sales last year across nine transactions, although it’s greatest volume was recorded in 2016 at $156.2 million.
“The Gold Coast lifestyle became more popular through COVID-19, resulting in last year being the only year in the past five to register any super-prime sales accommodating tennis courts, with a volume of $50 million – outperforming both the Brisbane and Perth markets, which recorded $20.1 million and $41.5 million in sales value.”
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