In a sign top-end buyers are returning to the market, Ray White chairman Sam White said there was a revival in the prestige sector although it did not release actual figures.
But Mr White said the market has "definitely dusted itself off'' from the worst of the global financial crisis.
He said sales of prestige properties had been given a boost by the shortage of lower-end properties as a result of the first home owners grant. He said first home buyers were now looking at properties priced in the $500,000 to $750,000 price range.
"Buyers are recognising that there is a rare chance now to get into the top-end of the market and save between 10 to 15 per cent and achieve benefits in the long term,'' Mr White said.
He said the renewed activity came from long-term investors and overseas interest.
The company said a Sydney property priced at more than $6 million was recently bought by a British man the day it went on the market.
The statement from Ray White comes amid a swathe of positive economic news.
