A record deal in record time — that’s what happened recently with a marquee property in Aspen, Colorado. The property was a penthouse in a new two-building downtown development known as the Dancing Bear that was notable for its exceptional location and amenities. Although there were multiple three-bedroom condos in each building, there was only one penthouse in the entire development.
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Day: <span>July 27, 2020</span>
In the last several months, we’ve all been forced to change and rethink a lot of the ways we work and live. While we’ve often resisted seeing ourselves on camera, we’ve been on video more the last several months than we have our entire lives and for most of us, we’ve seen the difference it can make.
With an influx of rental properties coming onto the market amid COVID-19, there’s never been a better time to nab a new home at a top deal.
Property managers and landlords are fighting to keep tenants in homes rather than see them vacant, and in addition to short-term rentals becoming long-term rentals, prices have not only decreased but are negotiable in many cases.
“All of a sudden, we have thousands of Airbnb properties that owners now want to try to lease out because they’re not getting tourists in, so that’s increasing the rental availability out there and tenants are seeing that and know they can get properties for $50-$100 cheaper,” said Georgia Soldatos, team leader and accountability manager at Belle Property in Melbourne.
Not only are rentals being advertised with ‘sweeteners’ such as temporary free rent, but prices, in general, are being adjusted to account for the current virus-hit market.
Across the country at this time of year, rentals are often advertised for much less than the typical median rent in a suburb, it’s just a matter of doing some research about the area and its rental pricing to see if you can sign up to a lease at a top deal.
If affordable is classed as under the suburb’s median weekly rent, then these two-bedroom abodes are well priced.
1. A period-style classic in Richmond
This semi-detached terrace at 6 Berry Street in Richmond is priced at $580 per week.
Richmond’s median weekly rent for a two-bedder is $600 per week, which means you could pat yourself on the back for saving $20 each week.
This rental in Richmond is $20 less than the suburb’s median rental price. Picture: realestate.com.au/rent
2. A chic and simple Bondi Beach pad
Fancy a free-standing home in the heart of Bondi? This cute two-bedroom home at 31 O’Brien Street, Bondi Beach is currently seeking a tenant for $660 per week.
Considering the median weekly rent in Bondi is $898, there’s a decent saving here.
The rental is walking distance to the beach and all the shops and cafes Hall Street has to offer.
Live walking distance to the coastline, shops and cafes. Picture: realestate.com.au/rent
3. A light and airy Brisbane abode
Located in the heart of New Farm, this newly renovated unit at 1/53 Annie Street comes with two car spots and a spacious balcony.
Priced at $460 per week, it’s worth applying for as the median weekly rent in the neighbourhood is $490.
With a housemate, that’s just $230 each per week.
Priced at $460 per week, this two-bedder is a good deal. Picture: realestate.com.au/rent
4. Stunning vistas in Sandy Bay
Rentals dominate Hobart and, due to COVID-19, many short-term holiday listings have been placed on the residential market seeking longer-term tenancies to weather the storm.
The median weekly rent for a two-bedroom home in Sandy Bay is $500, which makes this red-brick house at 2/12 Dalkeith Court a bargain at $360 per week – not only this, but the first week’s rent is being offered for free.
Its new tenants will enjoy sweeping views over the bay and surrounding hills – it’s also within close proximity to the University of Tasmania.
2/12 Dalkeith Court is seeking two tenants for $360 per week. Picture: realestate.com.au/rent
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No. 122 Ocean View Drive in Wamberal is on the market.
Two houses on the same street on the Central Coast were among the most viewed properties in NSW this week, according to realestate.com.au.
The Wamberal homes, both of which were on the market, attracted attention as news of landslides on the street broke earlier in the week. One of the homes, 51 Ocean View Drive, has been removed from sale as landslide damage is assessed.
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But another, across the road at 122 Ocean View Drive, was unaffected and remains on the market.
The property is on the other side of the street and has water views.
The six-bedroom luxury home.
The beautiful six-bedroom home is only a few years old, built by the owner after he bought the land with an old cottage on the site and knocked it down.
Agent Jordan Bulmer of McGrath Terrigal said the home carried a price guide around the mid-$3m mark.
“There’s nothing like this home in Wamberal,” Mr Bulmer said.
Plenty of windows take advantage of the views on offer.
Entertain by the pool.
“There’s nothing of that size here and together with the fantastic ocean views, private beach access and the fact it is not at risk from erosion, makes it a unique property.”
Floor-to-ceiling windows in most rooms allow you to take maximum advantage of the beach views and the open plan living space plus the pool area with entertaining deck have attracted a lot of interest from within the Central Coast and Sydney.
There has been plenty of interest from locals and Sydney buyers.
One of the most unique features is a “gentleman’s bar” on the lower level next to the garage and secluded from the rest of the house.
The black walls and roof give it a moody feel and the owner’s Lions Milk logo, from a line of arak spirit he owns, can be seen above the bar.
– With additional reporting from Mercedes Maguire
The post Properties on Central Coast street where storms damaged homes the most viewed NSW listings appeared first on realestate.com.au.
The seller of 32 Locher Avenue, Reservoir is open to accepting Bitcoin.
Cash or Bitcoin?
That’s the option facing prospective buyers of a Reservoir house, with the vendor declaring he’s open to accepting the cryptocurrency.
The renovated four-bedroom pad, featuring a four-car garage crowned by a man cave, has hit the market with a $880,000-$950,000 price guide.
This equated to about 67-73 Bitcoin at the time of publishing, when one Bitcoin was worth a touch above $13,000.
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A man cave — featuring a bar and flat-screen TV, and sitting above the garage — is part of the package.
Vendor Jim, who’s owned 32 Locher Avenue for about 13 years, said he considered the currency “better than cash”.
“Bitcoin, tomorrow, could jump to $20,000,” he said.
“There is no other better asset class that has outperformed Bitcoin in the last 10 years.”
He said while property deals using Bitcoin hadn’t “been done very much here in Australia”, it had cropped up overseas, including in the US.
Dubai’s £250m ($445m) Aston Plaza and Residences also recently became the first major real estate development to accept the currency.
The vendor installed a new kitchen as part of a comprehensive reno.
The property has a $880,000-$950,000 price guide, which at the time of publishing was in the vicinity of 70 Bitcoin.
A handful of other Victorian homes have been listed with the payment option, including in 2017, a $2.5m Mount Macedon property and a house in The Basin that ultimately fetched $885,000.
A spaceship-like mansion in seaside New South Wales town Casuarina was also sent under the hammer in what the selling agents claimed was one of the world’s first live-streamed cryptocurrency auctions last year, passing in at $3.5m or 457 Bitcoin.
And properties have been offered for the currency on the Gold Coast, in the Cairns region, in Hobart and South Australia’s Point Lincoln.
The alfresco and barbecue deck is a highlight.
A top spot to kick back in summer.
Jim, who didn’t want his surname published, conceded the sale of his Reservoir house to a Bitcoin owner would be “logistically … a little difficult for settling, deposits and things like that”.
“It’s not going to be straightforward, but it’s possible,” he said.
“There may be some people here who have a lot of Bitcoin.”
Jim described his home as “unique to the area”, thanks to its big garage with space for at least four cars and a loft level he’d used as a man cave, featuring a mounted flat screen and a bar.
“I’m into cars and bikes, so I spend a bit of time there,’ he said.
The house features four bedrooms.
The updated bathroom.
The 575sq m block also features a pool, a barbecue deck, and a renovated Spanish villa-style house with a new kitchen and bathroom.
Ian Reed vendor advocate Michael Collins — who has the listing in conjunction with Ray White Preston’s Ian Dempsey — said it was the first property he’d marketed for Bitcoin.
“This is a little out of the box,” he said.
“(If someone made an offer in Bitcoin), we’d have to work out the exchange rate for it at the time, there would be a monetary value based on the exchange rate, and put some other legal paperwork in place to define that.“
Mr Collins described the property as a “great entertainer” with a quality renovation.
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The post Bitcoin: Reservoir seller accepting cryptocurrency for house appeared first on realestate.com.au.
The North Adelaide home at 83 Archer Street sold for more than $1 million at auction on the weekend. Pic: realestate.com.au
Fierce competition for property across Adelaide is showing no signs of abating, despite it traditionally being the quietest time of year for the market.
A North Adelaide property is one of several that attracted a dozen registered bidders and many more interested househunters at auction on the weekend.
A crowd of people gathered outside the three-bedroom terrace home at 83 Archer St, which fetched $1.02 million under the hammer.
Ray White Unley agent Robbie Smith, who sold the property with Josh Gillespie, said competition for the home had been strong from the day it hit the market earlier this month.
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A local buyer snapped up the three-bedroom terrace home. Pic: realestate.com.au
She plans to renovate the property and live in it. Pic: realestate.com.au
“It’s crazy out there at the moment,” he said.
“We had 80 groups through the home over the three week marketing campaign.
“At auction we had 12 registered bidders, four were active bidders.
“(Bidding) started off at $500,000 and gradually got up to $800,000, it was pretty competitive bidding.”
Mr Smith said the buyer was determined to have the property.
“She showed interest from the very beginning and she put an offer in beforehand,” he said.
“She’s going to renovate the property and live in it.”
Further south, a Seacliff character home also drew a big crowd at auction on Saturday, when it sold for $1.325 million.
Ray White Brighton agent Matthew Martin, who sold the property at 43 Myrtle Road with Susan Martin, said bidding started at $700,000 before surging past $1 million.
The Seacliff house at 43 Myrtle Road also sold for more than $1 million under the hammer at the weekend. Pic: realestate.com.au
Its size, location and character attracted househunters. Pic: realestate.com.au
“We had 11 bidders, five active,” he said.
“It was really strong, we had 105 registered visitors prior to auction day and we had another 40-odd that came through on the day.”
“It was a really good campaign.”
Mr Martin said the property’s size and position, as well as the character of the 1920s bungalow, made it such an appealing home to prospective buyers.
“(The buyer) is looking to renovate it and restore it back to its former glory,” he said.
Meanwhile, a St Georges house that was the second most-viewed property going under the hammer across the country on realestate.com.au last week sold for $785,000 hours after auction.
The St Georges house at 4 Crossing Street sold hours after auction. Pic: realestate.com.au
It was the second most-viewed property going to auction across the country on realestate.com.au last week. Pic: realestate.com.au
Belle Property Norwood agent Kiet Duong, who sold the property at 4 Crossing Street with Clarence Ling, said more than 70 people attended the renovated 1970s brick home’s auction on Saturday.
While four people registered to bid, Mr Duong said about four others weren’t in a position to buy under auction conditions.
“We sold it to the highest bidder (later) that night,” he said.
Mr Duong said sales had been strong over the past few months despite COVID-19.
The post Competition for South Australian properties heating up: ‘It’s crazy out there’ appeared first on realestate.com.au.
Ben Cutting and Erin Holland have bought in Coogee.
While the rest of us are complaining about the COVID-19 restrictions, Miss World Australia Erin Holland and her cricketing fiance Ben Cutting are revelling in it.
Used to splitting their time between Holland’s hometown of Sydney and Brisbane where Cutting plays for the Brisbane Heat in the Big Bash League, the pair are celebrating their rare time together with a property purchase.
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Holland said it was the fifth property in the couple’s portfolio, but first together. Picture: Toby Zerna
The glamour couple has bought a two-bedroom garden apartment in Coogee, their first investment together, through Max Klimenko and Charlie Touma of Ray White Touma Group.
The price they paid for the home, which they bought shortly after it passed in at auction recently, is undisclosed, but it is believed to have been slightly above its advertised price guide of $1.2m.
“Between Ben and myself this will be the fifth property in our portfolio and we are always looking to add to that,” Holland told Property Confidential. “But it’s our first joint investment, I feel like a grown up.”
Cutting and Holland were engaged in May last year.
The pair, who got engaged in May last year, had planned to marry this year but their plans were scuttled by the global pandemic. But COVID-19 didn’t slow down their property plans. “We were always looking to enter the Sydney market at some point this year and were happy to invest during COVID while there was less competition,” said Holland.
The apartment is in a chic block, only 700m from the beach, completed in December 2018 with bespoke finishes.
“We are both beach kids at heart, me being from Cairns and Ben spending plenty of his childhood at Burleigh Beach,” Holland said.
– With additional reporting from Mercedes Maguire
The post Erin Holland and fiance Ben Cutting buy investment property in Coogee appeared first on realestate.com.au.
19 Dwyer St, Macleod set a new suburb record.
Sales records were smashed via online auctions across Melbourne on the last weekend of July, injecting positivity into the property market.
Macleod and Mulgrave both recorded their most expensive sales in history as impressive properties sold under the hammer.
A property power couple have claimed Macleod’s house price record after an incredible transformation at 19 Dwyer Street.
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A luxe extension at the back of the home.
Gary and Jane Byrne with their four children Rupert, Ivy, Ellie and Sophie. Picture: Nicki Connolly
Vendors Gary and Jane Byrne sold the five-bedroom home for a whopping $2,344,500, which was $244,500 above their price expectations.
It soared past the $2m record previously held in the suburb by 38 Gresswell Rd.
Mr Byrne said it was the second suburban benchmark the couple had claimed after renovation projects.
The property sold for $2,344,500.
A sophisticated kitchen.
“We did this in Watsonia North a few years ago and we broke that sales record by a long shot … when we finished it we decided to move on,” Mr Byrne said.
“This was actually a longer term plans of ours, with plans to do it up for the years to come. But once we finished we decided to again move on.”
He said it was a “rollercoaster of emotions” selling during the pandemic, which was vastly different to last time they sold in a “strong market back in 2017”.
But they pushed ahead with the sale after significant interest from buyers.
Jellis Craig Eltham director Aaron Yeats said selling during the pandemic paid off, as six parties registered to bid at auction.
Five of those competed via the Auction Now platform across 70 bids.
In Mulgrave, a palatial pad at 20 Oliver Court sold for $2.515 million.
20 Oliver Court, Mulgrave sold for $2.515 million.
Plenty of room to entertain outdoors.
It blitzed the residential suburb benchmark it previously set when it sold for $2.48m in 2017.
Harcourts Judd White director Dexter Prack said bidding “took off like a rocket” between five parties, who pushed the price “well above reserve”.
“It last sold three years ago, when the owners decided not to move to Melbourne from overseas,” Mr Prack said.
“That was probably one of the hottest markets, but this result shows that if the property is right it doesn’t matter about negativity out there.”
The palatial pad set a new price record for Mulgrave.
The house surpassed its own price record.
Other strong results were recorded across the city during its third weekend of lockdown.
A humble brick home at 14 Terrigal Avenue, Oakleigh South sold a whopping $305,000 above reserve for $1.24m.
Ray White Oakleigh agent George Midas said there was plenty of interest for the 1960s home, which had never been sold before.
14 Terrigal Avenue, Oakleigh South sold for $1.24m.
Retro vibes inside the 1960s home.
“There was at least one buyer inspecting it every day and resulting in over 68 inspections,” Mr Midas said.
“The offers we had prior to auction were all around the $820,000-$850,000 mark, so you can imagine how thrilled our vendors are that we chose the auction method and achieved over $1.2m.”
A Ringwood unit at 4/2 Greenwood Ave fetched $568,000 in its first sale since 1988.
It sold more than $60,000 above reserve as six bidders competed for the unit.
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Big changes to stamp duty aim to boost the property market and the construction industry. Picture: Sam Ruttyn
Sydneysiders looking to pick up their first property are set to benefit from huge changes to stamp duty.
The NSW Government has announced stamp duty will be temporarily scrapped for first home buyers purchasing newly-built properties worth up to $800,000 and heavily discounted for homes priced up to $1 million.
The year-long initiative aims to provide an economic boost to the construction sector and inject confidence into the struggling property market amid the coronavirus recession.
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Premier Gladys Berejiklian said more younger buyers will be able to secure a house under the scheme. Picture: NCA NewsWire/Jeremy Piper.
Premier Gladys Berejiklian said changes to stamp duty thresholds will allow more buyers to buy their first home.
“Thousands of people will see their bank balances benefit from this change – it will help get more keys into more front doors of more new homes,” Ms Berejiklian said.
Commencing August 1, the threshold above which stamp duty will be charged on new homes for first home buyers will increase from the current $650,000 to $800,000, with the concession reducing on higher values before phasing out at $1 million.
The government forecasts more than 6000 first home buyers will benefit from the changes.
Under the changes the stamp duty threshold on vacant land will rise from $350,000 to $400,000 and will phase out at $500,000.
The changes will last for a 12-month period and will only apply to newly-built homes and vacant land, not to existing homes. Other purchases will continue to benefit from existing schemes.
First home buyers will also be able to access the $10,000 First Home Owner Grant, which is available to people buying a new first home worth no more than $600,000, or buying land and building a new first home worth no more than $750,000 in total.
The construction industry will also benefit. Picture: Rohan Kelly.
New homes up to $800,000 will be exempt from stamp duty. PICTURE: BRENDAN RADKE
This could see a first homebuyer save $32,335 under the scheme if purchasing a new home and accessing the grant.
Belle Property Annandale associate director Simone Azzi said the scheme is a welcomed boost for the property market and would provide more younger buyers a pathway to purchasing.
“Anything that can help first home buyers is a win, as it can be very hard for them,” she said.
“This will also relief the stress for many and could be the difference between buying a house instead of an apartment.”
First home buyers stand to be up to $32,335 better off under the program. Picture: Glenn Ferguson.
Tax breaks on existing homes — including the $650,000 stamp duty exemption will remain. Stamp duty exemptions on vacant land will also be increased, with the threshold rising to $400,000
The government hopes easing the burden of buying a newly built property will stimulate the construction sector, which employs around 376,000 workers in NSW.
Residential and commercial construction contributed $48 billion to the state’s economy in 2018-19.
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Zoe and Zach Templeton (both 25) outside their first home that they spend two years scrimping and saving up a 20 per cent deposit for. Picture Annette Dew.
Queensland is leading a national surge in inquiries about taking out a home loan, with financing conditions the best they’ve ever been.
Data from Aussie Home Loans, a mortgage lender, showed that 31 per cent of inquiries came from Queenslanders, followed by Victoria and Tasmania (25 per cent), and New South Wales and the Australian Capital Territory (24 per cent) in June.
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However, separate research revealed that seven out of ten first homebuyers were failing to take advantage of the positive market conditions because they did not know how to go about it.
Of those surveyed, 58 per cent said they were “struggling to navigate the mortgage market, often feeling overwhelmed and confused”, while 90 per cent admitted to not knowing what the Federal Government’s First Home Loan Deposit Scheme was, despite it being only one of several schemes designed to help first homebuyers on the market.
Most of the respondents (81 per cent) indicated they needed financial guidance, with 65 per cent planning to turn to a mortgage broker for help.
Aussie Home Loans chief customer officer David Smith said “overwhelmed” was the number one word respondents used.
“There’s so much to consider from, choosing the right place, to then trying to get the finances lined up. We find ourselves in an environment that was already a bit stressful and confusing and then we’ve had bushfires, floods and pandemics to make everyone a bit more anxious. Ironically, if you’re in full-time employment, you’re in a great position. Interest rates are as the lowest they’ve been in history and conditions are the best they have ever been for first homebuyers.”
“Getting on the property ladder is within arm’s reach for anyone if they dedicate themselves to growing their savings, but confusion around what can help Australians get there more quickly and easily is stopping many aspiring buyers from achieving their goals.”
FHB TIPS:
1. Don’t be put off.
2. Find the right person to give you the guidance.
3. Find out what’s available to you from all the schemes.
4. Move with confidence.
(Source: Aussie Chief Customer Officer, David Smith)
Zoe and Zach Templeton, both 25, saved for two years to get into their first home this year.
“We would rather see our payments going towards paying off a loan and starting our future together. We wanted to find a house to move into before we got married, so we could start married life in our first home,” Mrs Templeton said.
They offered $535,000 for a three-bedroom, two bathroom property last year, qualifying for a percentage off their stamp duty (given it was under $550,000). They also did not have to pay Lenders Mortgage Insurance because they had a 20 per cent deposit.
“Neither of us had taken out a loan before,” Mrs Templeton said. “Luckily, we were already quite money conscious and budgeted all of our expenses.”
They said it was “very surreal and exciting” to buy a home, but definitely a challenge.
“We had to learn a lot about the market very quickly to make sure we could take advantage of all first homebuyer benefits, not get taken advantage of, get the best deal possible and were aware of all the risks. We were very lucky to have our parents’ support and that of a financial expert throughout the process.”
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