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Auctioneer Stuart Davies (right) and agent Michael Pallier at the auction of Woollahra home. Picture: David Swift

THE COVID-19 pandemic may have put a wrecking ball to the economy but the uncertain times failed to deter bidders from putting in multimillion-dollar offers for a historic Woollahra house.

The character-filled home on Harkness St with harbour views sold under the hammer for $5.71m after attracting 11 registered bidders at auction on Saturday.

The property was the home of John Lysaght, 91, who in the 1980s ran the now BHP subsidiary that makes Colorbond roofs and Zincalume steel.

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Mr Lysaght had lived at the home more than 30 years and was downsizing to Rose Bay. He watched the auction from within his car, wary of mingling with onlookers during the pandemic.

The home was well-presented but considered a “fixer upper” because of the scope for improvement.

His son Andrew said the family was delighted with the result. “It was more than we expected but you never know what’s going to happen at an auction,” the younger Mr Lysaght said.

“I was nervous about the auction about eight weeks ago. We weren’t really sure what direction the market was taking but it seems to be strong in the east.”

Selling agent Michael Pallier of Sydney Sotheby’s International said the $5.71m price was “what the house deserved” and well over reserve.

“It’s a fantastic location,” he said. “No one really knew exactly what the price would be prior to the auction because it is a unique property.”

A crowd of about 70 people were at the auction, spread across both sides of the street.

The guide was $4.5m and more than 30 groups requested contracts of sale for the property.

The buyer was understood to be an Indonesian businessman based in Bondi Junction, but he got his architect Simon Hanson, director of renowned firm Bureau SRH, to bid on his behalf. Mr Hanson said the plan was to redesign the circa 120-year-old home but the project was yet to be finalised.

“It’s an incredible location. We’re not sure what we’ll do but it won’t be much … we’ll find out what we’re working with once we take a closer look,” he said.

Eight of the 11 registered bidders put in offers but the auction was initially slow to get started.

Architect Simon Hanson from Bureau SRH Architecture is working with the winning bidders to develop the property.

Mr Hanson bid on his client’s behalf.

Auctioneer Stuart Davies received an opening bid of $3m about two minutes after launching proceedings and the bidders needed plenty of encouragement.

It was only when the bidding hit the $4m mark that a series of rapid-fire offers came in. “There is such good bidding. It’s a shame there can only be one winner,” Mr Davies said during the auction.

Mr Pallier said some bidders were holding their cards close to their chests but it was apparent they were prepared to spend big. “I have a theory about property,” he said. “People’s focus is on the home at the moment because they can’t go overseas and spend on (entertainment) so the market is strong.”

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Eight-year-old boy Michael Hamdan was the winning bidder at a Greenacre auction. Picture: David Swift

He is just eight years old but Michael Hamdan could be Sydney’s youngest property investor.

The southwest Sydney resident was the winning bidder at the auction of a cluster of five one-bedroom studios in Greenacre Saturday, beating out competition from six other registered bidders.

The homes on Juno Pde were snapped up under the hammer for $970,000 after going to market with expectations of about $800,000.

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Selling agent Mark Saleh of Harcourts-Greenacre said the eight-year-old’s entry into the auction was met with astonishment from the crowd of onlookers.

“I’ve never seen anything like it,” Mr Saleh said. “All the other bidders were a bit shocked.”

Mr Hamdan led much of the auction, placing the opening bid and came into the sale with a strategy to “slow bidding down”, according to his property developer father.

Michael Hamdan and agent Mark Saleh of Harcourts-Greenacre at the Greenacre property.

“He was enjoying playing monopoly with the bids,” the dad said. “We made it a fun experience.”

The boy was unable to directly buy the property because of his age, but his father said he purchased the investment properties for him.

His son handed the cheque to the sellers as part of the transaction.

The property developer said he wanted his son to be involved in the purchase of the former housing commission units so he could learn as much as possible about Sydney’s pressure cooker property market.

“I’m trying to teach him everything I know,” he said. “I used to get very uncomfortable bidding at auctions, I know what it’s like. I hope this will build up his confidence.”

The Juno Parade property has five one-bedroom homes on it.

The father-son team will renovate the properties and rent them out.

“(Michael) will be involved every step of the way … he will make the choices,” the dad said, adding the child would be picking out fittings and fixtures with his guidance.

Auctioneer Rob Trovato of Auction Services was calling the bids and said there was a reasonable level of competition from the other bidders, who were mostly investors and other developers.

There was a high level of competition for the properties.

The younger Hamdam stood out, Mr Trovato said. “He attempted some low-ball bids which had to be knocked back, but a lot of people try that … the two of them were having a bit of fun with it.”

ING research showed the average age of Sydney first homebuyers was 38.2, up from 34.7 in 2005.

“The property market is difficult to get into,” the older Hamdan said. “I wanted to train my son up … we saw this as a good investment.”

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A new report suggests the Townsville property market has begun its recovery after several negative years, noting the city’s “resilience” during the COVID-19 crisis.

The Herron Todd White Month in Review Report for August has both the Townsville house and unit markets at the “start of recovery”.

“The resilience of the Townsville residential market post COVID-19 continues to astound us with increasing sentiment and a noticeable increase in vacant land sales and new home construction following the $25,000 Homebuilder grant,” the report said.

“The investor market for house flippers continues to see good activity, particularly in established suburbs such as Railway Estate, Currajong and Gulliver.

“The entry level price for this type of investment is in the low $200,000s range.”

This house at 1 Quandong St, Currajong is for sale for $349,000

The report also pointed to reports from local agents of an increase in inquiries from trad­itional investors from interstate, and of buyers’ agents representing buyers from out of town becoming more active in the market.

Further, the report said the number of properties advertised for rent on real­estate.com.au within the greater Townsville region had reduced considerably, from about 850 in mid-April to about 450 in mid-July.

The Real Estate Institute of Queensland this week revealed the Townsville rental vac­ancy rate had shrunk to its lowest on record, tightening to just 1.7 per cent. That’s down from 2.9 per cent in March, and the record high of 7.1 per cent in September 2016.

“Overall there are many suburbs throughout Townsville with solid yield investing options available, particularly if not seeking short to medium term capital growth,” the report said.

“As yields vary based on demand and supply in the rental market, it is important when buying an investment property to consider property that will appeal to a wide range of ­potential renters.”

This unit at 4/100 The Esplanade is listed for $399,950. Supplied

The latest REA Market Trends report for August shows Charters Towers has the highest indicative rental yield in the region, with a whopping 13.2 per cent return.

Its rental vacancy rate has shrunk from 5 per cent in the March quarter to just 1.5 per cent in the June quarter.

In Townsville, Garbutt units are reaping the highest rental yields, with 11.31 per cent, while for houses, the top suburb is Rasmussen, with 7.92 per cent.

Michele Hyde of RE/MAX Excellence is marketing a three-bedroom unit in Belgian Gardens, one of the top performing suburbs for rental yields, for $399,950.

Ms Hyde said the local unit market, and Townsville as a whole, was showing some positive signs of recovery.

“Land sales have taken off,” she said. “We had a few blocks that were sitting for a while and now people are really taking advantage of the government funding (to build a new home),” she said.

“A lot of people are now finding it is cheaper to buy than rent.”

TOP 10 SUBURBS FOR RENTAL YIELDS (units)

Garbutt 11.31%

Hermit Park 10.4%

Idalia 9.84%

Rosslea 9.06%

Pimlico 8.19%

Douglas 8.03%

Belgian Gardens 7.98%

Kirwan 6.71%

West End 6.44%

South Townsville 6.12%

TOP 10 SUBURBS FOR RENTAL YIELDS (houses)

Rasmussen 7.92%

Garbutt 7.52%

Currajong 7.15%

Deeragun 7%

Vincent 6.93%

Wulguru 6.88%

Oonoonba 6.62%

Heatley 6.55%

Kelso 6.51%

Gulliver 6.5%

(Source: REA Market Trends report, August)

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63 Bruce Street, Coburg

Selling after Melbourne entered stage four COVID-19 restrictions has paid off handsomely for a young Coburg family.

Vendors Lillian and Daniel Skinner achieved a $115,000 premium with the online auction of 63 Bruce Street, despite the citywide lockdown turning the pair’s sale campaign on its head.

Private inspections were banned as part of the city’s coronavirus restrictions, which are due to last until September 13.

“We literally had three days to get everybody that was interested through the house (before stage four lockdown started),” Ms Skinner said. “It was nerve-racking, to say the least.”

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A rear extension was added to 63 Bruce Street, Coburg.

Open-plan living with a skylight at the Coburg home.

The family spent hours walking the block to ensure as many prospective buyers as possible could view the five-bedroom home, which sold under the virtual hammer for $1.815 million.

Realestate.com.au records show the property, which the couple renovated and extended, last sold for $990,000 in June 2017. “We really tried to keep the period charm of the home, then also have the modern day family in mind,” Ms Skinner said. “My husband did everything, even the vanities — he made them himself, it’s a testament to him.”

One of two tiled bathrooms in the Coburg home.

There are also five bedrooms.

The house sold for $1.815m.

The pair completed the renovation to live in, before the arrival of their one-year-old son forced a change of heart. They now plan to move regionally, to a 10-acre block closer to family.

Ray White Brunswick director Alex Ilyin said the Skinner family had presented an “exceptional home that’s been fitted to the utmost, pristine standard”.

In nearby Preston, a tired three-bedroom house at 12 Stott Street smashed the reserve price by $190,000.

The dated home at 12 Stott St, Preston, has structural issues.

The property still presented well for buyers.

The house fetched $950,000.

The run-down investment property sold for $950,000.

Stockdale & Leggo Reservoir agent Aldo Verga said about half of the bidding came from buyers that didn’t get the chance to see the house in person. “It does need some structural attention,” Mr Verga said. “A lot of (buyers) were looking to knock it over anyway and build their dream home,

Elsewhere, marathon bidding ended with a $741,000 sale at 8 Carex Way, South Morang. The three-bedroom brick home topped its reserve price by $61,000 in the hour-long auction.

No. 8 Carex Way, South Morang, sold for $741,000.

The property’s virtual auction lasted close to an hour.

Barry Plant North Eastern Group agent Tony Ong said the vendors had been nervous heading into the virtual auction. “Now they’re very happy, they’re jumping up and down,” Mr Ong said.

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jack.boronovskis@news.com.au

@jackboronovskis

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Inside the beautiful 3 Kerley St, Geelong.

THIS stylish inner-city townhouse occupies one of the city’s most magnificent locations.

Perched just back from the waterfront on the verge of Geelong’s CBD, new owners can watch the dolphins play in Corio Bay, or enjoy a coffee along the strip every day.

Perfect for the professional couple (the train station is within walking distance), investors and downsizers, the architect-designed residence at 3 Kerley Street offers the best of inner-city living a 206sq m block.

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Hodges, Geelong West agent Jeff Begg has the listing, with a price guide of $1.35m to $1.45m.

Timber trimmings offer natural warmth and a pleasing aesthetic inside.

Mr Begg said the architecture was influenced by the city’s historic woolstore warehouses located just a block down the street, while new owners would reap all the rewards of Geelong CBD living.

“It’s a great apartment alternative, on its own title with no owners’ corporation expenses and or involvement in a multi-level complex,” Mr Begg said.

“There are not too many freestanding townhouses with such uninterrupted views around.

“It would be ideal for people looking for a city investment or a base in Geelong if they come here for work.”

As for the mentioned views – Geelong, Corio Bay and beyond await from the north-facing first floor deck.

(And, the Ashby Presbytery of St Peter and St Paul next door is heritage listed, so new owners won’t need to worry about losing their view).

Inside, the beautiful residence offers cosy simplicity.

A peaceful retreat.

The ground level is home to the three spacious bedrooms, the main has a walk-in wardrobe and ensuite, while the other bedrooms each have a built-in wardrobe.

Downstairs is for sleeping.

Also on this level is the laundry and soothing main bathroom, as well as access to the private and secure paved rear courtyard.

Upstairs is all about living, and living large.

A spotless zone for cooking and eating.

Here, timber and natural light play a leading role with exposed beams, floor-to-ceiling bi-fold doors and polished timber floors.

All the ingredients for an easy-breezy lifestyle are on offer, including the relaxed kitchen with stone benchtops and stainless steel appliances, and one hell of an island bench.

The family chef will also love the amount of cabinetry and benchspace on offer, too, and can easily chat to guests while preparing meals.

Meals will be a taken with a view, so too after-dinner drinks, in the dining and living zone or, from the north-facing deck.

Bring on spring and summer.

Two words: Yes, please.

And, set up the work from home station in the handy study nook just off the living zone (although we can’t guarantee how much work will get done with so much to look at).

The secure abode has extra storage, off-street parking for two cars, with a single garage offering internal access to the laundry and rear courtyard.

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Will Hampson and Kate Lumby, with sons James and Lewis, on popular street Carters Rd in Dural. Picture: Sam Ruttyn

They’re Sydney’s most popular streets – the tree-lined avenues and waterfront roads where owning a home comes with the ultimate bragging rights – but you need deep pockets to buy there.

A review of real estate search activity revealed the Sydney streets where properties attract the most interest from home seekers are dominated by some of the country’s priciest homes.

They included small coastal streets in the city’s east along with long roads that meander through orchards and lush bushland dotted with mansions in Sydney’s semirural northwest.

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Other streets where the homes ranked among the most popular with home seekers were in private pockets of the northern beaches and north shore, according to the realestate.com.au research.

Outside the prestige market, Hills District suburbs Castle Hill and Baulkham Hills also had some of the most popular streets measured by online searches of property listings over the past three years.

Tivoli Ave, Rose Bay is Sydney’s most popular street.

But the street with the most popular houses was Tivoli Ave in Rose Bay, which nudged out Jane Place in Dural and Pacific St in Watsons Bay as the most coveted real estate address in NSW.

The Rose Bay street has the prestigious Kambala School on one wide while on the other are multimillion-dollar homes with direct water access.

Among the street’s most recent transactions was the sale of the Spanish Mission-style residence Villa Biscaya for close to $12.5m. Two other houses on the street sold last year for about $22m.

Other streets where listings attracted high buyer interest were Martin Rd in Centennial Park and Carrara Rd in Vaucluse.

The Carrara Rd homes have similar views to Tivoli St, while Martin Rd has historic upper market homes that look over the park.

Popular cul-de-sacs Pioneer Place in Castle Hill and Carmel Close and Caloola Place in Baulkham Hills featured mostly two-level houses that were larger than on surrounding streets.

Realestate.com.au chief economist Nerida Conisbee said Sydney’s most popular streets had homes that captured the imagination of buyers.

The houses along Pacific St in Watsons Bay, another of Sydney’s most popular streets.

“(The streets) are particularly nice, even for those affluent areas,” she said.

“They might have a better view, nicer houses or something else desirable that leads to higher levels of interest.”

Ray White TRG founder Gavin Rubenstein said houses along Tivoli Ave got “unbelievable interest” whenever they were listed.

“The Harbour aspect is pretty spectacular,” he said. “It’s like a postcard.”

Dural residents Kate Lumby and Will Hampson have lived on a cul-de-sac off Carters Rd, one of the northwest’s most popular streets, for 20 years and said it offered a country lifestyle with city conveniences.

“It’s a lush street with a lot of market gardens, a bit of bush. The homes are spectacular,” Mr Hampson said.

The couple run the local real estate business Lumby Hampson and recently sold $30m worth of homes on the street and its surrounds.

“It’s getting very popular,” Mr Hampson said. “Many of residents are multi-generational families, they’ll often be two houses on one block.

The Lumby-Hampson family walk down popular Carter Rd.

“People like the space. You can get a pool, tennis court, stables and many have veggie gardens. Pretty much every house has a home cinema.”

Ms Conisbee said the most popular streets for renters were vastly different, with Waterloo’s South Dowling Rd the most popular, followed by Naulty Place in Zetland.

“Renters are not aspirational, they are more practical,” she said. “They might be (looking) in suburbs like Marrickville or Petersham that are fun to live in, super cheap or close to universities.”

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Tracey Lester has sold a rare open warehouse space in Fitzroy.

Publican Tracey Lester has sold a Fitzroy warehouse she bought to turn into her dream home.

The creative mind behind colourful bars The Carlton Club, the Windsor Hotel and Helza Hotel sold 4 Wood Street for an undisclosed sum.

Nelson Alexander Fitzroy agent Sonya Laferla declined to comment on the sale price of the former artist’s residence, which was advertised with price expectations of $3.3-$3.5m.

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The warehouse space is a blank canvas.

It was formerly used as an artist residence.

“(Tracey’s) very pleased with the result and the buyers are ecstatic to have got such a special property,” Ms Laferla said.

She added that artists, designers and locals familiar with the building had all expressed interest in the property.

“A lot of the interest was from people looking at it from the point of view of working there as well as living there,” Ms Laferla said.

Tracey Lester is behind bars including The Carlton Club and Windsor Hotel.

Ms Lester added an upstairs deck to the property.

The site adjoins a park.

“The buyers would like to live in it for now and potentially use it later on for their business.”

Ms Lester purchased the property for $2.875m in September 2015, CoreLogic records show.

She previously told the Herald Sun the site would have been transformed into her dream home or a hospitality venue with an upstairs wellness centre, before the coronavirus pandemic prompted a change of heart.

Fitzroy Town Hall is just behind the property.

The property sold for an undisclosed sum.

The buyer is expected to move in, with later plans to operate their business out of the site.

“I always used to say, ‘I’m going to own that place one day’,” Ms Lester said.

“It’s actually huge though — it’s way too big for one person and a small dog. I guess COVID-19’s made me go, ‘Oh my house is amazing, I love my house’.”

Ms Lester lives at a nearby warehouse conversion.

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jack.boronovskis@news.com.au

@jackboronovskis

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Janice and Paul Riley at their Kent Hughes Road block. Kent Hughes Road was rated by REA data as one of the top streets buyers are falling over themselves to get into. Picture: Mark Stewart

A prestigious Wheelers Hill street has trumped more fancied stretches in Toorak and Balwyn North to be crowned Melbourne’s most popular street for househunters.

Fairview Avenue came out ahead of Elsternwick’s Regent Street — which hosted model Elyse Knowles’ 2017 season of The Block — in the realestate.com.au research. It revealed the Melbourne streets that have attracted the most views for each listing over the past three years.

Rounding out the top four were Barnard Road, Toorak — once home to socialite Rose Porteous — and Agnes Avenue, Balwyn North.

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Aerial image of the towering mansions on Agnes Avenue, Balwyn North. Picture: Mark Spinosa

Developer Mark Spinosa recently sold 12 Agnes Avenue for $7m. Picture: Alex Coppel

MJ Building Group director Mark Spinosa sold two multimillion-dollar mansions on Agnes Avenue last year: No. 12 for $7m and No. 8 for $7.3m. He’s now building a third there.

Mr Spinosa dubbed it one of the city’s most exclusive streets, featuring large, flat blocks capable of housing prestige homes close to shops and the city.

“There’s a lot of wealth being pumped into that little pocket,” Mr Spinosa said.

Two Eltham stretches — Jayson Avenue and Kent Hughes Road — made the top 10.

Local Jan Riley plans to sell a home on adjoining Culla Hill when Melbourne’s COVID-19 restrictions ease to build a property on Kent Hughes Road. She has lived in three houses in the suburb over the past 40 years.

Janice and Paul Riley are building along Kent Hughes Road, Eltham. Picture: Mark Stewart

A sprawling home at 10 Kent Hughes Rd, Eltham sold for $3.7m last August.

“Part of why we’re building there is we don’t want to leave the area,” Ms Riley said. “It’s just a wonderful environment. The birdlife, the wildlife — we have kangaroos hop through the backyard and echidnas walking through.”

A sprawling seven-bedroom pad at 10 Kent Hughes Road sold last August for $3.7m.

Also in demand with househunters were blue-chip Belvedere in Kew and Bromham Place in Richmond.

Realestate.com.au chief economist Nerida Conisbee said many of the streets that attracted lots of buyer interest were aspirational.

A stately home at 1 Fairview Ave, Wheelers Hill has been on the market for 800 days.

No. 8 Barnard Rd, Toorak was on the market last year for close to $12m.

A home at 3 Fairview Avenue, Wheelers Hill sold for $4m last July.

“The fact we see so many views for homes on these streets is probably due to people dreaming about their ideal home,” Ms Conisbee said.

A surprise inclusion was Trindall Place in Taylors Lakes, which notched the sixth most views per listing.

Barry Plant Taylors Lakes agent Las Anastasiadis sold a four-bedroom house at
9 Trindall Place for $1.45m in early 2018, and said there were several “beautiful pockets” in the suburb.

No. 9 Trindall Place, Taylors Lakes sold for $1.45m in early 2018.

Buyers could land 9 Belvedere, Kew for $4.4-$4.5m.

“There are a few blue-chip locations in Taylors Lakes, but that property was just a really nice home in a nice street,” Mr Anastasiadis said.

Improved infrastructure and good schools were bringing families into the area, Mr Anastasiadis added.

“We were once considered out in the bush, but now we’re pretty close to the city,” he said.

Only streets with a minimum of five listings since June 2017 were included in the data.

MELBOURNE’S MOST POPULAR STREETS

Fairview Avenue, Wheelers Hill

Regent Street, Elsternwick

Barnard Road, Toorak

Agnes Avenue, Balwyn North

Jayson Avenue, Eltham

Trindall Place, Taylors Lakes

Belvedere, Kew

Bromham Place, Richmond

Amberley Way, Lower Plenty

Kent Hughes Road, Eltham

Seacombe Grove, Brighton

Yatama Court, Mt Waverley

View Street, Hawthorn

Wingfield Parkway, Williams Landing

Willow Street, Elsternwick

Heritage Boulevard, Doncaster

Brickworks Lane, Northcote

Grange Avenue, Plenty

Brewery Lane, Collingwood

Cloverlea Drive, Kilysth South

*Source: realestate.com.au, from July 2017 to June 2020. Ranked based on average views per listing. To be included, streets had to be within 30km of the CBD, and have a minimum of five listings and two properties sold over the three-year period.

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jack.boronovskis@news.com.au

@jackboronovskis

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The property at 26 Rennison Street, Parkdale is priced from $2.2-$2.4m.

International yachtsman Stewart Rose and his Sydney-Hobart sailing wife Kerryn are selling their Parkdale “forever home” just months after finishing a renovation.

The pair and their five-year-old son William are trading up from the 26 Rennison St property to a unique boaties paradise at 1 Bowman Court, Aspendale, with its own slipway and Mordialloc Creek access.

Mr Rose’s international career included contesting a berth in Australia’s 1996 Atlanta Olympics sailing team in the 470 Class.

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What a locale.

Bright, airy living.

Though he was overlooked for a position, he still claimed a number of gongs including Australian Junior Sailor of the Year in 1996 and was a three-time Lightweight Sharpie Australian champion.

Ms Rose competed in three Sydney-Hobart events and a Melbourne-Hobart race.

She said they fell in love with the bay views at the four-bedroom Parkdale property and bought it in 2017.

Architect Andrea Piotrowski then overhauled the home to flood the lower level with natural light.

Natural light permeates the floorplan.

Indoor-outdoor floor.

“And it has the most amazing top floor that spills out to this balcony where you can see from Arthur’s Seat over house rooftops to the You Yangs,” Ms Rose said.

A gas-heated plunge pool heats up to 40 degrees in “about two hours” and was as enjoyable on a cold day as it was in the heat of summer, she said.

During Melbourne’s first lockdown they also came to appreciate the home’s multiple living spaces, which provide space for time to yourself when needed — or to spread the party out when guests are allowed to visit.

Plenty of space to entertain, when allowed, on the balcony.

Schmick finishes in the updated kitchen.

Take the plunge.

They include a lounge room and family room with a concealed kitchen downstairs, and an open-plan living room and dining area configured around a lavish Caesarstone-topped kitchen.

“We instantly fell in love with it,” Ms Rose said. “And I’m really going to miss the view. You can stand in the kitchen and make a cup of tea and enjoy it from inside, too.”

The property is expected to sell for $2.2-$2.4m.

Buxton Mentone director Matthew Cox said the home was “the pick of the bunch” from three for sale in what is considered among Parkdale’s most exclusive pockets.

“It’s a terrific family home and perched high on the hill,” Mr Cox said.

The family is moving to this Aspendale property.

You can see the appeal for sailors.

Margaret Allnutt sold her family home of 59 years to the well respected sailing family, including the boat building shed her husband worked from for decades. Picture: Wayne Taylor

Prior to stage four lockdown restrictions coming into force the agency was able to show the home to five prospective buyers and they were working with them, Mr Cox said.

It was unlikely any buyers would emerge who had not inspected the property in person.

Expressions of interest close at 4pm September 7.

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nathan.mawby@news.com.au

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