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31 Olola Ave, Vaucluse, has a $6m price guide ahead of its August 22 auction.

The incredible Vaucluse home of music industry entrepreneur Pete Lusty — who passed away in March after a battle with cancer — has hit the market with $6m guide.

Lusty, who was the co-founder of the independent music company Ivy League Records and management company Winterman & Goldstein, guided rock bands such as The Vines, Jet and Empire of the Sun.

Property records show he and his wife, Georgia Day, bought the five-bedroom, four-bathroom Olola House on its 1168sq m block — opposite Vaucluse House — for $4.45m in 2015.

It’s now listed with Sotheby’s International managing director, Michael Pallier — who sold them the house — for August 22 auction.

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The house was designed to experience architecture and nature.

There’s a 24-metre lap pool.

The master suite has harbour views.

Designed to “experience architecture, nature and capitalise on natural light”, the north-facing home features open plan living and dining flowing to a large entertainer’s deck and pond, has a marble gas kitchen and a separate TV room.

Other highlights are the 24-metre lap pool, a wood-burning Jetmaster fireplace, electric underfloor heating and the sustainably sourced hardwoods, sandstone and limestone finishes.

The master suite, which has an ensuite and built-in wardrobes, has harbour views.

There’s also a separate workshop with plenty of storage and an underground media room or music studio with its own kitchenette and airconditioning.

High ceilings.

The whole house opens up.

Incredible design.

It was only last October that Suns Beer held a launch party for their summer ale at the home, with guests bowled over by the home’s tree-like design.

Everyone was wondering who the famous owners were, with the living room full of ARIA awards.

Lusty was aged 50 at the time of his death. He had two children, Tom and Kitty.

A statement released soon after his death, from Andy Cassell and Andy Kelly who were his business partners at Ivy League — the label home to The Teskey Brothers, The Rubens and Alpine among others — said: “Words can’t describe our sadness … we love him so much.”

The post Incredible Vaucluse home of music industry entrepreneur Pete Lusty hits the market with $6m guide appeared first on realestate.com.au.

3 Caroline Street, Dynnyrne. Picture: SUPPLIED

A SOLID brick home with stunning Derwent River views, that is always going to be a winning combination.

This property sits among the few uppermost properties atop of Dynnyrne and boasts views over the water that only neighbouring properties can rival.

The lower level is home to a garage, workshop and rumpus. A blank slate, the rumpus area could be outfitted to become an additional living space, home office, recreational area — let the imagination run wild.

Head upstairs and the home quickly reveals a vast floorplan.

A central hallway snakes from the entry all the way to the laundry at the opposite end of the house.

Solid construction.

Luxuriously appointed.

Toward the front there are living areas and to the rear are the sleeping quarters.

The dwelling has three bedroom, each equipped with built-in wardrobes.

The master is positioned privately away from the other bedrooms and the living zone, too.

It offers the luxury of a walk-in wardrobe and an ensuite.

Next stop along the hall is the family bathroom with a shower and a corner spa.

The second and third bedrooms a located alongside each other and both have built-in wardrobes.

A big 5m x 4.5m living room takes pride of place at the front of the home with a deck on the river side plus an updated kitchen — with an island bench, chic rangehood and double sinks — that form the heart of the home.

Dreamy kitchen.

Play it again.

Deck stretch the length of the home, including a covered section by the dining room.

There are toilets conveniently positioned on both level of the house while the bathrooms have been renovated to suite a modern style.

The laundry and study complete this level of the home.

The house has been outfitted with fresh carpets to welcome their new owners.

An owner-occupier can feel reassured they have invested in a blue chip asset when purchasing a home of this size and elevated location in sought-after Dynnyrne.

Entertaining will be a breeze.

Sunny and spacious.

Similar to Taroona or Tolmans Hill, Dynnyrne offers an attractive alternative for buyers looking for the Sandy Bay lifestyle.

From its hilly position, this affluent suburb is home to many impressive properties with grand views over Sandy Bay to the water.

No.3 Caroline Street, Dynnyrne is listed with Nest Property and priced at $975,000+.

The post Few Dynnyrne homes sit in a higher spot looking over the city appeared first on realestate.com.au.

This luxury Bayview home is listed via EOI at $5.9m, $2.3m below the original listed price.

Luxury waterfront and acreage homes are being offered with as much as $2.3 million cut off the price as COVID-19 depletes the pool of big-spending buyers.

The deals are giving buyers the opportunity to snap up premium homes at prices that wouldn’t have been possible before the pandemic hit.

One of the biggest discounts is on a six-bedroom house in northern beaches suburb Bayview that includes a swim-in bar, views over Pittwater and a 10-seat home theatre.

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The triple-level house on Pittwater Rd was first listed at $8.2 million but is now listed through an expressions of interest campaign at $5.9 million.

Another waterfront property in nearby Clareville was dropped to $5.7 million after originally going to market with a guide of $7 million.

The price for this Manly house on Augusta Rd has dropped $500,000.

The three-level house on Hudson Parade is serviced by a lift and the bedrooms have walk-in wardrobes.

Other significant property discounts ranging from $400,000 to $500,000 are being offered for luxury homes in Manly and northwest suburb Kenthurst.

Real estate experts said Sydney’s most discounted properties were often those originally priced between $2.5 million and $5 million.

This Clareville house is discounted by $1.3m.

These properties were a harder sell because buyers were becoming more cautious about taking on larger debts during the coronavirus crisis.

The typical market for these houses were also “aspirational purchasers” who wanted to upgrade to a luxury lifestyle but did not have an impending deadline motivating the purchase.

This meant they were happy to sit on their hands and get more certainty about the economy before making a move.

This house on Arnold St in Killara had more than $250,000 cut off the price.

These buyers were in the opposite situation to the buyer group who have been most active during the pandemic — families who have outgrown smaller units and urgently need space.

The result was that properties priced in the middle of the Sydney market, roughly $900,000-$1.5 million, were rarely heavily discounted.

Sydney’s prestige market in the eastern suburbs was not as affected either — there have been multiple $10 million-plus sales since the pandemic started — because ultra-wealthy expats were returning.

Many of these buyers paid for their homes in cash and didn’t need a mortgage.

This Sandpiper Place home in Kenthurst was listed at $2.795m but is now $2.395m, a drop of $400,000.

Property Buyer director and buyer’s agent Rich Harvey said discounts varied considerably by suburb.

“Every property is being discounted to a degree but they are not as large in the eastern suburbs or lower north shore,” Mr Harvey said.

Coastal suburbs in Sydney’s north were a different story, he said. “The prices in areas like Palm Beach tend to fluctuate a lot … there would be less demand in the current market.”

The Bayview house discounted by $2.3m includes a larges games room and swim-in bar.

Ray White-Erskineville agent Ercan Erscan said buyer interest for homes priced above $2 million was weaker even in perennially popular regions like the inner west and Sydney’s inner south.

“There are still a lot of buyers once you get below $1.8 million,” he said.

The post Luxury waterfront and acreage homes on offer with discounts of up to $2.3m appeared first on realestate.com.au.

An Australian expat couple dialled in from New York to secure a Melbourne home at auction today, while strong competition in Sydney led to a ‘bumper day of sales’.

A renovated historic home in Sydney’s Woollahra sold for an eye-watering $8.1 million today, with three registered buyers vying for the prize. It is understood to be the highest price paid at auction in Australia this week.

While in Melbourne, buyers are reportedly undeterred by online auctions as coronavirus lockdowns continue.

356 Edgecliff Rd, Woollahra sold at auction for $8.1 million.

Latest realestate.com.au auction data shows New South Wales has a clearance rate of 73% for the week to date, while Victoria’s preliminary clearance rate currently stands at 68%.

Here’s what happened in the auction capitals today.

Melbourne

A charming three-bedroom townhouse in the city’s east sold for $1,366,000 at auction today, to an Australian couple currently living in New York.

Tim Heavyside, from Fletchers Canterbury, said 2/3 Raynes St, Balwyn started the auction had four bidders and opened at $1.1 million bid.

“It went on the market at $1.3 million and sold for $1.366 million to a purchaser in New York. They’re Australian expats plan to live in it eventually, although they can’t get back at the moment,” he said.

“I’ve found that this time around, in iso 2.0, buyers are more accepting of the online [auction] method. So it’s been okay.”

Mr Heavyside said a nearby property, 12 Albert St in Surry Hills, passed in at auction today at $2.27 million with three bidders, but was confident it would sell quickly.

In Melbourne’s inner south, the Balaclava home of former Richmond and Geelong player Taylor Hunt sold for $1.378 million.

The two-bedroom pad at 20 Camden Street sold for $1.378 million in an online auction with four bidders. 

Sydney

A ‘shell of a home’ in inner Sydney attracted plenty of interest at auction today, with six bidders registering for the rundown three-bedroom terrace.

49 Abercrombie St, Chippendale attracted six bidders at auction today, despite its rundown condition. Picture: realestate.com.au

Despite its peeling paint, overgrown backyard and lack of parking, 49 Abercrombie St in Chippendale sold for $1.15 million. The price was $35,000 over reserve and $150,000 above the guide price.

In the south, a two-level house on Billara Ave in Gymea Bay sold under the hammer for $1.135 million, which was $50,000 below the seller’s original reserve.

For more Sydney auction action, read here.

The post Saturday auctions: Sydney’s $8.1m sale, NY couple snap up Melbourne pad appeared first on realestate.com.au.

19 Bathurst St, Woollahra, has a $3.8m price guide.

Committee for Sydney chairman Michael Rose AM has listed his attractive Woollahra investment property with a $3.8m price guide.

The three-bedroom, three-bathroom Federation era freestanding home with garage at 29 Bathurst St, listed with Michael Dunn and Andrew Birbeck of Richardson and Wrench Double Bay, has a $3.8m price guide ahead of an August 19 auction.

Property records show the light-filled residence in the name of Michael Rose, who is also the chair of Northwest Rapid Transit, a lawyer and the former Chief Executive Partner of Allens, and his wife, Marian.

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Fine dining.

A stylish kitchen.

They purchased the property for $1.14m in 1999 and had lived there up until 2016 when they moved to Bowral.

It’s been a rental property for them ever since. CoreLogic shows the weekly rent was $3200 a week in 2016, but it’s recently been advertised at $1,850 per week.

Comfortable living areas.

There’s a sunny courtyard.

The charming home is sure to be snapped up quickly by an eastern suburbs upgrading family.

It’s in a good tree-lined street and is designed for indoor/outdoor family living and entertaining.

There’s a decent-sized open-plan living areas with a fireplace and glass bi-fold doors, a modern gas kitchen and quality appliances.

It also has a sunny courtyard.

Two of the bedrooms have ensuites.

The property is spread over two levels and is close to Bondi Junction shops and transport, Lough Park, and Double Bay village.

The post Committee for Sydney chairman Michael Rose AM lists Woollahra investment property appeared first on realestate.com.au.

356 Edgecliff Rd, Woollahra sold at auction for $8.1 million.

A historic home in Woollahra described in the listing as “reborn” due to a recent renovation has sold at auction for $8.1 million.

The price for the five-bedroom house on Edgecliff Rd was understood to be the highest paid at auction in the country this week.

Three buyers registered for the auction with The Agency’s Ben Collier and auctioneer Damien Cooley received an opening bid of $7.7 million.

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Mr Collier said the house was popular because it offered a mix of contemporary styling and period features.

The home was given a modern update.

The neo-Georgian style house included a 500-bottle wine cellar and smart technology.

The sellers had also built a double-garage which made the property more accessible.

The property had lost sold in 2017 for $5 million, sales records showed. Mr Collier said all the registered parties lived locally.

The property was well-presented throughout.

The property pictured when it last sold in 2017.

Other auctions across Sydney’s east included the sale of a three-bedroom house in Matraville held by the same family for close to 60 years.

Emotions ran high at the Australia St auction, with selling agent Nick Papas of Century 21-Maroubra getting interest from three registered bidders.

Auctioneer Damien Cooley received an opening bid of $7.7m for the Woollahra home.

Six prospective buyers had requested contracts of sale and close to 50 groups inspected the property in the lead up to the auction. Most of the interest was from young families hoping to capitalise on the 627sqm block, Mr Papas said.

“It was an emotional purchase for the family who bought it,” Mr Papas said.

The post ‘Reborn’ Georgian-style house in Woollahra sells for $8.1m at auction appeared first on realestate.com.au.

Auctioneer Damien Cooley at the sale of a rundown Chippendale terrace. Picture: Darren Leigh-Roberts

Ceilings were frayed, paint had bubbled off walls and the backyard was strangled with weeds but a rundown shell of a home in inner Sydney still attracted plenty of buyer interest at auction Saturday.

Six bidders registered for the auction and the three-bedroom terrace on Abercrombie St in Chippendale sold, without parking, for $1.15 million.

The price was $35,000 over reserve and $150,000 above the guide price listed by agents Brad Gillespie and Jye Emdur of The Agency.

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The auction was one of nearly 650 scheduled across the Greater Sydney area this week. The volume of auctions was a quarter more than last week and well above the 394 held over the same week last year.

There was a crowd of about 30 people at the auction.

The Chippendale auction was slow to get started, with auctioneer Damien Cooley having to give the registered buyers plenty of encouragement.

One opportunistic bidder tried to launch proceedings with a $450,000 offer but it was dismissed by the auctioneer as “ridiculous”.

A builder in attendance later ­offered $950,000 and the auction was under way. The bids rose in initial increments of $25,000 but slowed to $5000 increases once bidding hit $1.075 million.

The backyard was overgrown.

Five of the registered buyers made offers but much of the auction was a showdown between the ­builder who made the opening bid and a mum bidding on behalf of her daughter.

The two slugged it out with multiple bids until the mum placed a knockout offer $20,000 above the builder’s last bid. He then declared he was maxed out and the mum was handed the keys after the drop of the hammer.

Mr Emdur said the bidders were a mix of first homebuyers, investors and builders. He estimated it would cost $200,000-$500,000 to restore the property.

“It was a good result considering the condition of the property and how much you’d need to spend,” Mr Emdur said.

Family of the seller Roxanne Giles and cousin Brendan Giles.

The property last traded in 1995 for $166,000. The Giles family, relatives of the elderly owner, sold the property on her behalf.

The owner’s niece said she was “pleased” with the result after initi­ally being nervous. “It was a good price for what the home is,” she said.

Housing experts said this week’s bump in scheduled sales, unusual for winter, was the result of on-site auction bans in April and early May. Many vendors pulled their properties off the market during the period or held off selling altogether.

CoreLogic data showed sellers have had mixed results under the hammer since the first lockdowns were imposed in late March. The Sydney-wide auction clearance rate for the three months to June was 51 per cent.

The auction for a house at Brookpine Place, West Pennant Hills attracted a crowd.

In the Hills area, a four-bedroom house on a 905sqm block in West Pennant Hills sold for $1.46 million, $90,000 over reserve. Ten bidders registered for the auction of the Brookpine Pl home and 30 bids were placed.

Auctioneer Stu Benson said presentation played a part in driving up the price. “Buyers could immediately see themselves living here,” he said. “With COVID’s long-term economic impart still uncertain for many, buying a house that immediately feels like a home instils confidence.”

In the south, vendors of larger houses had to drop their reserve prices midway through their Saturday auctions to get their properties sold.

A two-level house on Billara Ave in Gymea Bay sold under the hammer for $1.135 million, which was $50,000 below the seller’s original reserve.

The Billara Ave house in Gymea Bay.

The two registered bidders each placed a single bid for the four-bedroom house on a cul-de-sac, with the underbidder making the opening bid of $1.1 million. The 550sqm property last sold in 1988 for $155,000.

Another two-level house, on Bell Ave in Beverly Hills, sold under the hammer for $1.485 million – also below the original reserve.

The sellers of the five-bedroom, two-bathroom house had set a reserve of $1.55 million before the auction.

Auctioneer Andrew Cooley at the sale of a house on Bell Ave in Beverly Hills.

The Bell Ave house last sold in 2016.

Auctioneer Andrew Cooley received an opening bid of $1.3 million and two of the five registered bidders participated in the auction. “All the (registered) buyers were young families upsizing,” Mr Cooley said.

The Bell Ave house had last sold in 2016 for $1.32 million, sales records showed.

The post Sydney home auctions: shell of a home with overgrown backyard sparks bidding war appeared first on realestate.com.au.

20 Camden St, Balaclava was sold by ex-footy player Taylor Hunt.

Former Geelong and Richmond player Taylor Hunt has sold the Balaclava terrace that sparked his interest in the property game.

The two-bedroom pad at 20 Camden Street sold for $1.378 million in an online auction with four bidders. The property pushed $18,000 above the 29-year-old’s reserve price.

CoreLogic shows the ex-defender bought his inner-city home for $730,000 in 2013, while playing for the Cats.

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Former Tiger Taylor Hunt scored at auction. Picture: George Salpigtidis

Hunt completely transformed the inner-city terrace.

Belle Property Albert Park agent Stephanie Evans said the impressive transformation had attracted plenty of interested buyers during the campaign.

“We had about 50 groups over the four-week campaign, and three of those weeks were during lockdown rules,” Ms Evans said.

“A young guy has bought it with his family and they have plans to hold it as a long-term investment while he lives there.

“They’ve missed out on some really big apartments recently and thought it would be better value to buy something a bit more substantial like a terrace.”

The property sold for $1.378 million.

A modern kitchen with Miele appliances.

An easy-care courtyard with vertical garden.

She said the quality of Hunt’s renovation was “something you don’t see often in Balaclava”.

The listing has drawn many out-of-area buyers, who saw good value in the listing compared to nearby suburbs like Albert Park and Armadale.

Hunt previously told the Sunday Herald Sun he “didn’t know how much work the house needed” until he moved there after being picked up by Richmond in 2015.

The terrace looked completely different when Hunt bought it in 2013. Picture: Supplied

Hunt has almost doubled his money since buying the property. Pic: Michael Klein

“All the period features had been ripped off, the floors were all up and down, (and) at one point, there were stray mice,” Hunt said.

It took about 18 months to get plans and permits, and a further six months to restore the facade and front two bedrooms. He demolished the back of the house to rebuild an open plan living and dining space and a kitchen with Caesarstone benchtops and Miele appliances.

There are two bedrooms.

Luxe additions in the bathroom.

Other new features include a second bathroom, floor-to-ceiling sliding doors leading out to a courtyard with a built-in barbecue and bench.

Hunt said he attended trade school while playing at Richmond and now works in project management and as a site foreman for a residential building company.

He’s moving on to a larger renovation project.

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Golfer Marcus Fraser is selling 145 Dalgetty Road, Beaumaris.

Olympic golfer Marcus Fraser and his wife Carlie are selling a renovated mid-century modern house in Beaumaris.

The four-bedroom house at 145 Dalgetty Road has an asking price of $1.59-$1.65m and goes under the hammer on August 1.

Fraser represented Australia in the men’s individual golf at the 2016 Rio Olympics, finishing tied for fifth.

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Timber wall panels feature throughout the home.

The home’s entry foyer.

Scott Hend was the nation’s other male representative, as Jason Day, Adam Scott and Marc Leishman all ruled themselves out.

It was the first time golf had been played at the Olympics since the 1904 games, which were held in St. Louis, Missouri.

Fraser also has professional wins on the European, Asian and Challenge Tours.

He said the renovation, undertaken by wife Carlie’s Hygge Spaces and Design, was “all about restoring” the property, in a suburb renowned for its mid-century modern architecture.

“We wanted to protect one of the homes because they seem to all get bulldozed and we don’t want Beaumaris to lose its soul,” he said.

“We feel like it’s got so much to offer families.”

Marcus Fraser tees off in Geelong in February. Picture: Jack Thomas/Getty Images

A half-height wall separates two entertaining zones.

Horizontal timber panelling in the kitchen.

Fraser said the pair were “really passionate” about protecting the suburb’s heritage.

“Mid-century homes are such an easy way of living,” he said. “You’re able to put your own touches on them and still maintain the original features.”

Original 1960s timber wall panels were restored in the tastefully updated home, which also features an entry foyer and half-height wall dividing two entertaining spaces.

Multiple sash and clerestory windows bring natural light flooding into the home.

The house has a price guide of $1.59-$1.65m.

A recent restoration was sympathetic to the house’s mid-century modern style.

Beaumaris is renowned for its mid-century homes.

The house wraps around a lengthy hardwood entertaining deck alongside landscaped gardens and an in-ground pool.

Eview Group Hartrick agent Sam Hartrick said the single-level home would suit families and downsizers.

“I think it’s the perfect family home given the area and the accommodation for the growing family,” Mr Hartrick said.

He added that the vendors “went down the path of bringing it to life” with their restoration.

“It was probably a little bit tired and needed a bit of rejuvenation and the owners certainly did that,” Mr Hartrick said.

CoreLogic records reveal the golfer purchased the property for $1.55m in March 2018.

The home goes under the hammer on August 1.

The house wraps around an entertainer’s deck, with a pool to the rear.

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jack.boronovskis@news.com.au

@jackboronovskis

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