For bargain-hunting buyers, low-priced fixers are irresistibly tempting. Often, these “bargain” listings are sold strictly “as is.” So, make sure your buyers keep these factors in mind when they’re searching for “the one.”
Blog
Day: <span>July 26, 2020</span>
An artist’s impression of Lendlease’s Victoria Cross development in North Sydney.
North Sydney is set for a commercial development boom worth more than $1.5 billion, and major tenants are believed to already be interested in crossing the bridge.
Lendlease has secured development approval for the Victoria Cross over station development – a brand new $1.2 billion commercial tower rising more than 42 storeys above the future Victoria Cross metro station.
MORE: Best suburbs for families revealed
Dream homes on offer with huge discounts
The news came hot on the heels of an announcement by Oxford Investa Property Partnership that it had lodged a development application with North Sydney Council for a major redevelopment of the landmark MLC Building.
A preliminary artist’s impression of the proposed development at the MLC Building at 105 Miller St, North Sydney.
A preliminary artist’s impression of the proposed development at the MLC Building at 105 Miller St, North Sydney.
The $450 million project proposes a revitalised 27-level commercial building with a large publicly accessible indoor and outdoor space with food, and retail offerings.
Both projects are expected to generate thousands of jobs.
Mark Tait, Investa’s Group executive and head of Commercial Development, said the project was expected to generate 1700 jobs during construction, and house 6200 workers when fully occupied.
Jeheon Son, Lendlease’s head of Development NSW, said the Victoria Cross development would create about 2800 jobs during construction and house up to 7000 local workers once completed.
An artist’s impression of Lendlease’s Victoria Cross development in North Sydney.
He said the NSW Government’s rapid transit Sydney Metro network – currently under construction – would forge an unprecedented link between the Sydney and North Sydney CBDs.
“It is a huge investment (for Lendlease),” Mr Son said. “We haven’t had a presence in North Sydney in decades.”
He said the new metro system would mean commuters could be in North Sydney from the Sydney centre within minutes.
He said discussions were already underway with several high profile potential tenants, but was tight-lipped about the nature of their business. Both developers acknowledged the COVID-19 pandemic would change the landscape of many commercial operations.
But they are confident proper planning will meet the demands of future work practices, and are looking to incorporate new smart building initiatives.
SIGN UP HERE FOR THE NSW REAL ESTATE NEWSLETTER
The post More than $1.5b worth of new commercial development for North Sydney appeared first on realestate.com.au.
The impressive backyard at 31 Balmoral Crescent, Rippleside.
SCENIC waterfront location complete with bay views – tick.
Privacy and security assured – tick.
Spacious, low-maintenance living – tick.
RELATED:
Front row seat to peninsula’s best views
Warning over crowd control at Geelong street auctions
How to future-proof your home’s value
With a set up like this one, you’ll never want to leave home.
The contemporary facade at 31 Balmoral Crescent, Rippleside.
From its size to the design and luxury detail, 31 Balmoral Crescent, Rippleside, is impressive from every angle of the sprawling 823sq m allotment.
Whitford, Newtown agent Dale Whitford has the listing, with price hopes from $3.3m to $3.6m.
His very words to describe the architect-designed residence: a luxury waterfront sanctuary (yes, please).
How’s the view from the backyard?
“If privacy, views and high quality finishes are on your wish list, you may have found your new home,” Mr Whitford said.
But wait, there’s more.
With an internal lift, butler’s pantry that has, wait for it, its own pantry, and three dishwashers (because sometimes one just isn’t enough), let’s just say, what a place to isolate.
This incredible property is most definitely a peaceful retreat, and there’s a lovely, easy flow between each space.
Privacy, light and space abound at 31 Balmoral Crescent, Rippleside.
Here’s the inside version.
Motorised louvre windows add to a tropical feel and add the all-important element of energy efficiency.
Bamboo flooring is another highlight, along with three zoned reverse-cycle airconditioners, electric shutters, C-Bus wiring.
Plus, a double garage and a separate single garage, both with extra storage, border the entry hall.
Take the lift or stairs to the upper level to enjoy the open-plan living, dining, kitchen zone that offers epic views, and will serve kids and parents all year round.
It’s fair to say family and friends will enjoy coming to visit.
Stairs you’d actually want to climb.
Timber flooring, marble and stainless-steel work areas and Miele appliances make the kitchen a star attraction, along with that butler’s pantry.
What a place to meal prep.
Not to mention, the butler’s pantry.
The main bedroom, with a walk-in wardrobe and luxe ensuite complete with spa bath is here, too, along with a the study, home office or fourth bedroom.
Soak the day away in the spa bath.
The ground level could almost be a house on its own.
Here, there’s two bedrooms, both with built-in wardrobes, two bathrooms, a huge walk-in linen cupboard, as well as a family room and lounge room, oh and not to mention those beautiful bay views.
Anyone else instantly relaxed just by looking at this?
It’s all about living large on ground level.
To top it off, an expansive outdoor space makes for the perfect entertainment area.
Put the feet up and forget about the world for a while.
The Zen-like gardens are established, private and offer space to relax, entertain and simply enjoy the fresh, salty air and great outdoors.
Plus, they’re easy-care so you can take off for trips without any garden worries.
As for location, this part of town is still considered somewhat of a hidden gem, and the convenient location puts parkland, public transport and the waterfront all within walking distance. If commuters want to skip the train, it’s an easy drive to Melbourne.
The post Check out this luxury sanctuary above the water at Rippleside appeared first on realestate.com.au.
A fully furnished tiny house for sale in Warbuton. Picture: David Caird
A tiny house with a big heart is for sale in an off-grid part of Warburton.
Pint-sized property Womblebank, right beside Four Mile Creek at 8 Prospect Avenue, is for sale with a $300,000-$330,000 price tag.
Surrounded by picture-perfect gardens on an 800sq m block, the property has been used as short-stay accommodation after it was fitted-out by the owners, Julie Wilson and Anna Sharpley.
RELATED: Capel Sound tiny house for sale: Eco villa an affordable opportunity
Warburton Hospital: Mental health groups pool funds to bid for site
Melbourne residents to make sea and tree changes, report predicts
Julie Wilson at her property with chickens Queenie and Buffy. Picture: David Caird
These incredible gardens are part of the package.
They passionately sourced handcrafted Indian mango wood for the floorboards, a customised futon from Catlemaine and top-quality French sheets for the small space.
A full-sized shower, caravan-style toilet and a kitchen with timber benches are all part of the package. A bedroom upstairs is too small to stand in, but is wide enough to sleep three people.
Beyond the house, native gardens are brimming with vegie patches, an orchard, fire pit, water features, statues from Bali and incredible mountain views.
The owners completely fitted out the tiny house.
Pint-sized living across two levels. Picture: David Caird
“We always had this vision of doing up the gardens with fruit trees, vegetable patches and chooks,” Ms Wilson said.
“It helps make the whole thing an experience, not just staying in the tiny house.”
Ms Wilson said the property had been “fully booked” between Melbourne’s coronavirus lockdowns.
A kitchen with timber benchtops.
No standing in the bedroom.
Her own home next door at No. 10 is also up for private sale with a $580,000-$620,000 price guide.
Professionals Yarra Junction director Ashleigh Hall said some interested buyers would consider buying both blocks together.
10 Prospect Ave, Warburton is also for sale.
Larger living on offer here.
“The tiny house hasn’t got a permit as a dwelling, so it’s only good to stay in temporarily,” Mr Hall said.
“But you’re buying your own little city escape in a beautiful spot right near La La Falls.”
The off-grid street does not have sewerage, but the tiny house can be connected to the main power and water lines at a buyer’s request.
Chickens living at the block can also remain at the property, which is for private sale.
READ MORE: Interior design based on your star sign: Style tips from the stars
David Schwarz, Alannah Hill and The Block properties sell
Interest in Australian real estate from Hong Kong continues to boom
The post Warburton: Tiny house set among incredible gardens for sale appeared first on realestate.com.au.
Olympic equestrian Brian Schrapel and his wife Diann have sold their Tallarook farm once graced by members of the royal family.
The 26.3ha Djawarrah Park, at 50 Boongarry Rd, changed hands for $850,000 after a lengthy 300-day campaign.
Schrapel competed at the 1972 Munich Games and became the first Australian to judge Olympic equestrian events in Sydney in 2000, all while living at the three-bedroom property.
RELATED: Brian Schrapel: Olympic equestrian set to auction Tallarook property
Royal Redan: Ballarat property visited by King George V for sale
Former Howe’s Junction Hotel in Tallarook awaiting next chapter
The 26.3ha farm is called Djawarrah Park
Brian Schrapel in 2000.
The couple built the humble house that went on to host Princess Anne and ex-husband Captain Mark Phillips in the early 1980s.
Schrapel trained horses for Captain Phillips, as well as British equestrian world champion Lucinda Green, nee Prior-Palmer, and 1976 Olympic gold medallist Edmund ‘Tad’ Coffin of the US.
He previously told Property Insiders he had been “lucky to mix with the high-end of the sport as a competitor and trainer”.
Princess Anne and Capt. Mark Phillips at their wedding in 1973. Picture: Mega
The humble house is on a large farm.
A traditional country kitchen.
He added that he and Diann had been “blessed” to live “off the beaten track (in) idyllic” surrounds for four decades.
They planned to move to Toowoomba in Queensland, where their jockey son Michael lived with his partner and daughter.
Ray White Seymour agent Michael O’Sullivan said the property sold to two veterinarians who appreciated the property’s equestrian facilities including a stable complex, round yard and an all-weather horse riding ménage.
There’s plenty of room for horses on the property.
The country property was built by the vendors 40 years ago.
A huge horse stable attracted the buyers.
He said the sale concluded after the property’s price guide had been changed multiple times.
“We took the property to auction last October and it has been for private sale ever since,” Mr O’Sullivan said.
An original price guide of $680,000-$740,000 was revised up to $900,000 before it sold for $850,000.
The agent said the Schrapels planned to move up to Queensland once the state borders reopened.
READ MORE: How a Camberwell period home became a modern entertainer
Mornington Peninsula private beach for sale with dream home
Australian housing: How JobKeeper can help stop property ‘falling off a cliff’
The post Brian Schrapel: Equestrian Olympian sells Tallarook farm appeared first on realestate.com.au.
Collingwood forward Jordan De Goey has snapped up an Aspendale apartment off the plan. Picture: Michael Klein
Collingwood livewire Jordan De Goey has bought an off-the-plan “weekend getaway” in a beachside Aspendale apartment complex.
The forward snared a two-bedroom unit in the 1-5 Taylor Avenue project being developed by his mate, Dennis Spanos, who also owns Greek patisserie and restaurant Vanilla Lounge in Oakleigh.
Mr Spanos told the Sunday Herald Sun De Goey’s new apartment would feature a courtyard, and be just a drop kick from his “favourite beach”.
RELATED: Melbourne champ’s schmick warehouse conversion sells
Hawthorn captain Ben Stratton’s Fitzroy house misses mark at auction
Premiership Bomber Rick Olarenshaw lists Port Melbourne pad
The Aspendale development will feature 25 units.
“The beach is so close, maybe after he has a big game, (he can go there) for a nice recovery on the weekend,” Mr Spanos said.
“It’ll be a weekend getaway where he can relax and switch off.”
De Goey has long been connected to Melbourne’s southeast, playing junior footy with the Ashburton United Junior Football Club and then in the TAC Cup with the Oakleigh Chargers, before being selected by the Pies with pick five in the 2014 draft.
The 24-year-old has been sidelined from footy with a finger injury, and is also facing an indecent assault charge.
Mr Spanos said construction had just begun on the two-storey development, which would feature 25 units and a retail space when it was completed between September to November next year.
The light-filled interior of one of the apartments.
The apartments are available in one-, two- and three-bedoom configurations.
Nine of the apartments remain for sale. They include a single one-bedroom unit with a $599,000 asking price, a single three-bedroom pad priced at $1.05m and a handful of two-bedroom configurations for $705,000-$800,000.
Mr Spanos said each apartment would have open-plan layouts, underground parking and storage, and either a courtyard or balcony.
They would also be fitted with quality materials including oak flooring, wool carpet, Miele appliances and double-glazed windows, under the guidance of high-end builders Vujic Property Group.
“(De Goey) loved all the finishes — the builder was a big drawcard for him,” Mr Spanos said.
The kitchens will feature Miele appliances.
A sleek bathroom.
Buxton Bentleigh selling agent John Rombotis — a former AFL player who lined up for Fitzroy, Port Adelaide and Richmond in the ’90s — said the apartments were being constructed by “one of the best builders going around”.
The development also benefited from its closeness to Aspendale Beach, he said, noting many of the purchasers so far had been holiday home buyers.
“Going to Aspendale Beach is like going to the Gold Coast — it’s one of the cleanest beaches in Melbourne,” Mr Rombotis said.
“Instead of driving down to Mount Martha, (the buyers) are choosing this.”
MORE: Richmond Victorian house ‘like wearing cashmere’
Caulfield South ‘mullet house’ has business up front, party out back
How JobKeeper can help stop property ‘falling off a cliff’
The post Jordan De Goey: Collingwood forward bags Aspendale apartment appeared first on realestate.com.au.
Lessons learned in Melbourne’s first lockdown and a severe stock shortage will help the property market stay afloat during the pandemic’s second wave, experts say.
But the industry remains fragile, despite the extensions to government welfare payments and mortgage holidays from the banks.
Philip Webb director Phillip Webb said there was “no shortage of buyers” competing for the few available properties on the market.
“I’ve never seen it so severe in terms of the lack of stock out there for genuine buyers,” he said.
RELATED: Aspendale units surprise winner as demand surges in COVID-19 era
David Schwarz, Alannah Hill and The Block properties sell
Why a Box Hill vendor turned down offer $200k above reserve
Development projects in Craigieburn. Picture: Nearmap
Treasurer Josh Frydenberg during a press conference in the main committee room at Parliament House on July 23. Picture: Sam Mooy/Getty Images
There were just over 2500 new listings on the market last week in Melbourne, according to realestate.com.au data.
That figure is almost 1000 below the 3477 new listings in the second week of March, as the pandemic was first impacting the city.
This lack of stock has insulated Melbourne from dramatic price drops, despite a 2.3 per cent fall in home values from April to June, according to CoreLogic.
Contributing to the stock scarcity was the fact the auction market had been gutted by being forced online. CoreLogic reported 42 per cent of auctions were withdrawn last week — well above the five-year historic average, recorded pre-COVID-19, of just 3 per cent.
Many agencies giving online auctions a chance are reporting success stories — including Love and Co Thornbury agent George Theocharis, who sold 3/2 Josephine Grove, Preston, for $540,500 using the virtual format.
No. 3/2 Josephine Grove, Preston sold for $540,500.
Inside the Preston unit.
The two-bedroom unit had a price guide of $470,000-$510,000.
“The difference this time is people are feeling a lot more comfortable with it, because they at least know what to expect,” Mr Theocharis said.
“The biggest uncertainty was job loss, first and foremost. Now you’ve probably accepted that you’re working from home, there is a sense of security.”
Low stock has prevented Melbourne from drastic price drops.
Mr Webb labelled the JobKeeper payment’s continuation until late March, albeit at a reduced rate, a “very solid sign” for continued market stability.
The fortnightly payment falls from $1500 to $1200 at the end of September, before dropping again to $1000 at the start of January.
“I don’t believe we’ll be falling off a cliff at the end of September, October or January,” Mr Webb said.
Industry Insider director Andrew Date agreed the JobKeeper payments, accompanied by mortgage repayment extensions, meant September no longer loomed as a make-or-break month for the industry.
“The cord’s not going to be pulled in September, like a lot of people thought was going to be the case,” he said.
But Mr Date said an emergence of distressed sales from divorces and loan defaults remained a threat to property prices.
“It only takes one or two to really hurt an area,” Mr Date said.
“We know this whole pandemic has produced a lot of mental health issues for the community. It’s going to test a lot of relationships, it’s going to test mental strength as well.”
Harcourts Box Hill agent Dennis Shi said while investors and developers had dropped off, homebuyers were continuing to front up.
“We’re still an essential business — people can still come to our opens and inspections but they have to book with us first, that’s all,” he said.
—with Jayitri Smiles
READ MORE: Interior design based on your star sign: Style tips from the stars
Jimmy Bartel, Nadia Bartel selling St Kilda West family home
Beaumaris townhouse with backyard bath scrubs up well
The post Coronavirus: How Melbourne market survives second lockdown appeared first on realestate.com.au.
Making a tree change won’t cost a fortune for buyers prepared to look off the beaten track in regional Victoria.
Dirt-cheap properties with plenty of character are on the market for as little as $65,000 in towns like Rainbow, St Arnaud and Dookie.
Country agents say they’re attracting attention, as more Melbourne residents plan their escape from the city after the pandemic.
RELATED: Coronavirus: Melbourne buyers screened in regional Victoria
Melbourne lockdown residents can still inspect properties in regional Victoria
Regional Victoria: Four markets with strong growth prospects despite COVID-19
8 Eddy St, Rainbow has a $65,000 price tag.
1526 Hopetoun-Rainbow Road, Hopetoun has been reduced to $229,000.
North West Real Estate director John Hadley said inquiries had surged from buyers who “had never even heard of the towns” where they wanted to move.
“Most people don’t know where these towns are and they’ve had no connection before, but they’re just buying based on value for money,” Mr Hadley said.
“Most of them are trying to make a permanent move and get away from Melbourne.”
Melbourne buyers are inquiring into little-known Victorian towns. Picture: Paul Jeffers
He said most houses cost less than $100,000 in towns like Warracknabeal, Donald and Watchem.
Three properties in Rainbow recently sold to buyers more than 100km away, he added.
“Rainbow is about four hours from the West Gate Bridge and it’s a small town of about 600 people in northwest Victoria,” he said.
“I still don’t think I got through to one interested buyer that it’s not just west of Melton.”
2 Burke St, St Arnaud has plenty of character.
Ready to live in, it’s just $290,000.
There are about five other properties for sale in the tiny town, all advertised for less than $100,000.
St Arnaud is another offbeat spot offering a huge Federation home at 2 Burke St for just $290,000.
A recently-renovated property at 43 Halls Rd, Goorambat, just 10 minutes from Benalla, is for sale for $225,000.
43 Halls Road, Goorambat is for sale.
The house has recently been renovated.
10 Queen St, Dookie is also for sale.
An unrenovated gem in nearby Dookie could cost a bargain hunter just $140,000-$160,000.
Prospective buyers can also strike gold in some of Victoria’s most famous regional towns, if they’re willing to get creative.
Just outside Warburton, a fully-furnished tiny house on a huge creekside block is up for grabs with a $300,000-$330,000 price guide.
A tiny house for sale at 8 Prospect Ave, Warburton.
Huge gardens are also part of the package.
Vendor Julie Wilson used the pint-sized home as an Airbnb, which was fully booked prior to coronavirus.
She’s now selling the block at 8 Prospect Ave along with her own larger home at No. 10, which has a $580,000-$620,000 price guide.
Professionals Yarra Junction director Ashleigh Hall said some interested buyers would consider buying both blocks together, while others would snap up the tiny home as an off-grid holiday opportunity.
10 Prospect Ave, Warburton is also for sale.
The perfect out-of-town escape.
“The tiny house hasn’t got a permit as a dwelling, so it’s only good to stay in temporarily,” Mr Hall said.
“But you’re buying your own little city escape in a beautiful spot right near La La Falls.”
The street does not have sewerage, but the tiny house can be connected to the main power and water lines at a buyer’s request.
Chickens living at the block can also remain at the property, which is for private sale.
READ MORE: David Schwarz, Alannah Hill and The Block properties sell
Why a Box Hill vendor turned down offer $200k above reserve
Australian housing: How JobKeeper can help stop property ‘falling off a cliff’
The post Country Victorian homes for sale in Rainbow, Dookie, St Arnaud appeared first on realestate.com.au.
The Mannum church at 32 William Street has been transformed into a modern home. Pic: realestate.com.au
Walk past this historic building in the heart of Mannum and you will probably assume it’s just an old church.
Have faith that there is much more to it inside than meets the eye though.
The former Mannum Baptist Church at 32 William St, which was built in circa 1893, has been transformed into a contemporary two-bedroom home.
After about 18 months of renovating, the owners have decided to sell it.
MORE NEWS
Three-in-one property offer in popular SA wine region
Where you can find more rental options and potentially pay less
Why this house is the ultimate beachside retreat
It’s light, bright and airy inside. Pic: realestate.com.au
The owners spent about 18 months renovating it. Pic: realestate.com.au
Selling agent Michael Nance, of Statewide Property Network, said it was used as a church until 2018 when the current owners purchased it.
“The current owners bought it with the intention of renovating it into a residence,” he said.
“You probably wouldn’t guess (from the outside) that someone actually lives there.”
Mr Nance said the owners have retained the building’s structural integrity and character but repurposed its interior, giving it a much more modern style.
An open kitchen, dining and living area forms the hub of the home, which opens onto a separate lounge room and balcony overlooking the River Murray.
It has panoramic views of the River Murray. Pic: realestate.com.au
The views stretch as far as the eye can see. Pic: realestate.com.au
A mezzanine offers two bedrooms that share two walk-in wardrobe spaces and an ensuite.
The main bathroom and laundry are on the ground floor.
On a 1097sqm block, the property also has two sheds and a double carport.
Mr Nance said the way the owners’ had blended modern style with historic design made it stand out.
“I’ve been doing real estate for 30 years and it’s probably the first church that I’ve sold that’s been done up like that,” he said.
The owners are selling the property so they can renovate a beach shack on Victoria’s coast.
The property is listed with a $560,000 to $580,000 price guide.
The post Historic Mannum church that has been transformed into a modern home hits the market appeared first on realestate.com.au.
A SYDNEY investor has beaten competition from first-time buyers to secure what was the Gold Coast’s most affordable house.
A four-bedroom, two-bathroom freestanding house at Arundel listed for ‘offers over $399,000’ has created a frenzy of interest among first-time buyers and investors.
A freestanding house at 10 Melastoma Way, Arundel was listed for offers over $399,000.
The house at 10 Melastoma Way featured in the top 10 most-viewed residential properties in Queensland last week and is the only house on the Gold Coast in the sub-$400,000 bracket.
“We’ve had heaps of inquiry,” said McGrath agent Jake Albertson.
“The line up at (last) Saturday’s open home ran well out the door. We had 25 groups go through.”
Three written offers were made this week, with a Sydney investor beating two first time buyers to sign a contract on Thursday for an undisclosed figure over the asking price.
The property is rented to a secure tenant at $530 a week.
First time buyers were up against investors to secure the Arundel house.
With houses at Arundel fetching a median of $655,000, Mr Albertson said the price, location and a back yard were major selling points for the property.
But there was one catch – the house on 343 sqm is located within an estate with body corporate fees of $67 a week.
“The estate provides access to the resort pool, spa, a large barbecue area, kids playground, gym and function room which are all maintained for you,” Mr Albertson said.
The outdoor area was appealing for the price.
First-time buyers have been active during the pandemic period, with record low interest rates, government incentives and low competition from investors working in their favour.
June property data reveals houses at Pimpama are the most budget-friendly with a median sale price of $470,000.
Houses at Nerang sell for a median $477,250 while Upper Coomera also comes in under $500,000 with a median sale price of $495,000.
Those looking to snare a home for under $530,000 should consider Ormeau, Coomera, Ormeau Hills, Coombabah and Oxenford, while houses at Highland Park, Jacobs Well and Merrimac sell for around $555,000.
Top 10 entry level suburbs*
Pimpama $470,000
Nerang $477,250
Upper Coomera $495,000
Ormeau $507,500
Coomera $512,500
Ormeau Hills $515,000
Coombabah $525,000
Oxenford $530,000
Highland Park $555,000
Jacobs Well $556,000
* Based on median house sale prices in suburbs with more than 25 sales in 12 months.
The post Investor snaps up Gold Coast’s most affordable house appeared first on realestate.com.au.