No Comments

Sarah becomes the first 2020 contestant to turn on the waterworks

The Block is back; transporting us to a tranquil time when Brighton was alive with activewear clad locals sipping lattes in bustling cafes rather than disgruntled Karens fleeing to neighbouring areas in search of less boring pavements to pound.

Here on a vacant block of blue chip real estate — months before the COVID-19 pandemic turned Melbourne into a virtual ghost town — the production team towed in five rundown houses from across Victoria for the new batch of contestants to renovate for our viewing pleasure.

RELATED: How The Block got through COVID-19

Melbourne team lead The Block season of firsts

Each of these dilapidated houses is from a different decade — ranging from 1910 to 1950 — and the contestants will be expected to reflect their home’s unique style and character in their renovations.

The one thing these properties have in common, besides their new postcode, is that it will take a herculean effort to get them looking like a page of an interior decorating magazine rather than a building with a pressing appointment with a wrecking ball.

Jimmy and Tam from The Block 2020

Queensland bar manager Tam and plumber Jimmy.

So, who are the brave folks who have put their hands up to roll their sleeves up this year?

First to arrive on the 2020 work site are “Queensland battlers” Jimmy and Tam.

As a plumber, Jimmy should have the experience and the know-how to make life on The Block a breeze. Tam, on the other hand, is a bar manager at a bowls club with a penchant for bouffant hair and bandannas. She boasts that she can “pull the best bloody beer in Brisbane and can do it in my sleep”.

It remains to be seen whether being a quick draw on the pour will be an asset on a reality reno show.

Sarah and George from The Block 2020

Teacher Sarah and Pokemon-collecting gold jewellery-loving electrician George are from NSW.

From NSW comes Sarah (a high school teacher) and George (a Pokemon card-collecting electrician). George boasts that Sarah’s greatest quality is that she’s always laughing. But, by episode’s end, Sarah’s signature smile was well and truly gone. And this sunny-natured teacher became the first on The Block to weep (repeatedly).

RELATED: The Block confirmed for 2021

Meet the man who bought Mitch and Mark’s Block house

South Australia has brought us farmer Daniel and wife Jade, a hairdresser. The couple live 250km from Adelaide with their three kids so moving into The Block — where personal space is usually in short supply — could well prove a challenge. But the hardworking pair are up for anything as the drought has left them about $1 million in debt. Daniel is also keeping a secret — he has worked as a carpenter.

Daniel and Jade from The Block 2020

Farmer/carpenter Daniel and hairdresser Jade have arrived from outback SA.

From WA it’s the glamour duo, carpenter Luke and teacher Jasmin. The couple have two young kids and Jasmin boasts that her husband, who also moonlights as a model, has a face that “pays some bills”.

And finally, the locals — Harry and Tash — who quickly reassured the other slightly baffled contestants that they were father and daughter and not a Sugar Daddy and his much younger partner. Despite rumours among the other contestants that Harry is secretly a master builder, the IT worker’s sole experience with renovations was from watching others do them. And that quickly became very evident.

Luke and Jasmin from The Block 2020

Teacher Jasmin and carpenter/model Luke bring the glam from WA.

When the teams are let loose on the houses, they are shocked by the state they are in – remarkable given this is now the eleventh season of the show and it’s the same story every time.

Protective Harry is instantly worried his beloved daughter might trip on the rubble strewn about the place. And Sarah, a self-described neat freak, wonders how she will cope with all the mess when, at home, she loves nothing more than to be let loose on her pantry with a labeller and neatly stack her Tupperware.

While it’s bare bones to start with, there are big plans ahead with each property eventually set to boast a second storey extension as well as a garage (with self-contained studio apartment above it) and a swimming pool.

Harry and Tash from The Block 2020

Don’t panic. Harry and Tash are father and daughter, from Victoria.

To decide who gets which house there is — wait for it — a challenge. Each couple is given $3000 to build a beach box in the backyard and furnish it as a bedroom. The best box got first pick of the properties and so on until the poor couple who did the worst job was left with the one nobody wanted.

Poor sparky George and Sarah thought all their Christmases had come at once when the teams were permitted to hire a carpenter to help with the job.

Their chippie talked a good game suggesting they make their bathing box bigger to edge out the competition. With no experience in such matters they follow his bum steer and are left high and dry when it turns out they don’t have enough materials to finish the job.

Making matters worse the smooth-talking carpenter says he can’t work at the weekend to fix his mess. Thankfully Block veteran Jason (Mitch and Mark’s builder from 2019) comes to their rescue.

Sarah and George on The Block 2020

Sarah and George aren’t thrilled with the judges feedback on their beach box.

Sadly, not even Jason’s magic touch and his quick bond with George — the pair dubbing themselves the bling brothers because of their shared love of gold jewellery — can make up for George and Sarah’s poor styling. Judges Shaynna Blaze, Neale Whitaker and Darren Palmer also weren’t wowed by the decision to lower the ceilings which made their longer beach box feel claustrophobic. The feedback brought the supposedly sunny Sarah to tears (again).

The trio of judges were equally unimpressed with Harry and Tash’s efforts. While they could see the merits in Tash’s styling, they felt Harry let the team down with his shoddy workmanship – well and truly quashing any rumour he was secretly a gun on the tools.

Feedback for Jimmy and Tam’s Sunshine Coast-inspired yellow breach box and Jasmin and Luke’s 70s party house was largely positive. That should prove interesting as both couples have their eyes on nabbing the same property, the 1950s house at the far end of The Block.

Finally, Daniel and Jade’s efforts, despite Jade’s insecurity over shopping, got the thumbs up for everything except the choice of pendant light which the judges felt belonged in an industrial setting rather than a beach shack.

And so, after two hours of waiting to see who would claim which property, we were left none the wiser. It seems the producers are keeping that for tomorrow night. Watch this space.

The post Sarah becomes the first 2020 contestant to turn on the waterworks appeared first on realestate.com.au.

No Comments

Ballarat’s most expensive sales dominated by Lake Wendouree houses

412 Wendouree Pde, Lake Wendouree

412 Wendouree Parade, Lake Wendouree, is the only $4m house to have sold in Ballarat.

The Ballarat market has sustained its popularity with buyers after notching its first $4m sale last year — even throughout the COVID-19 crisis.

Jellis Craig Ballarat director Tony Douglass labelled the regional city “the place to be”, with local and Melbourne-based buyers scrambling to secure homes there.

He tipped more $4m-plus sales to follow the record-breaking $4.25m deal he secured for a seven-bedroom lakeside mansion, with a tennis court and indoor pool, early last year.

RELATED: Ballarat mansion tops house price record by more than $500,000

Amazing Invermay, Ballarat lifestyle property for sale for first time

Victoria’s most powerful residential streets unveiled

412 Wendouree Pde, Lake Wendouree

412 Wendouree Parade, Lake Wendouree’s large block featured a tennis court.

412 Wendouree Pde, Lake Wendouree

Ballarat’s top-selling house also offered an indoor pool.

The 1992sq m property at 412 Wendouree Parade, Lake Wendouree still holds the house price benchmark for postcode 3350, according to CoreLogic.

Its sale to a local family broke the previous record (424 Wendouree Parade’s $3.73m) by more than half a million dollars.

No. 424 changed hands off market in early 2018 and remains Ballarat’s second-priciest seller, CoreLogic records show.

“We’re seeing more interest in the $2-3m range, and I would expect there are a number of homes on Wendouree Parade that are worth $4m,” Mr Douglass said.

424 Wendouree Parade, Lake Wendouree, holds Ballarat’s second-highest reported residential price following a 2018 off-market deal.

Bishops Palace at 1444 Sturt Street, Lake Wendouree, achieved Ballarat’s first $3m house sale.

This stretch encircling Lake Wendouree and streets flowing off it, namely Webster Street, are home to Ballarat’s 10 highest-selling homes.

Coming in third place on the list was another Lake Wendouree house at 1444 Sturt St, also known as Bishops Palace, which achieved Ballarat’s first $3m sale in 2014.

The 1877-built Gothic mansion set on 1.6ha of botanical gardens now functions as a boutique accommodation business, offering six regal suites.

Bishops Palace is now boutique accommodation.

A divine spa at Bishops Palace.

Another highlight of the top 10 is a five-bedroom house on more than 1000sq m of lakeside land at 120 Wendouree Parade, which featured a 1200-bottle wine cellar and a pool and fetched $2.925m late last year.

A residence flanked by resort-style grounds at No. 309 on the golden street also made the list thanks to its $2.7m sale in 2014.

And a 1928-built five-bedroom home at 129 Webster Street, with a modern extension and a striking period-style bathroom with its own fireplace, emerged as Ballarat’s highest-selling house of 2020 so far. It fetched $2.55m in April.

120 Wendouree Parade, Lake Wendouree, sold for $2.925m late last year.

Sleek living spaces inside 120 Wendouree Parade.

Mr Douglass said closeness to several standout schools — including Ballarat Clarendon College, which was named Secondary School of the Year at the 2019 Australian Education Awards — further boosted Wendouree Parade and Webster Street.

He said while the first COVID-19 wave slowed the Ballarat market right down, it bounced back in June and July, with his agency notching 69 sales in the latter month. This was well above the normal yield of 35-40.

Living at 309 Wendouree Parade, Lake Wendouree, is like living at a resort.

309 Wendouree Parade sold for $2.7m in 2014.

They included the $880,000 sale of four-bedroom, 1930s-era house at 103 Chisholm Street, Soldiers Hill, to Melbourne-based buyers.

Major drawcards for out-of-town purchasers had included Ballarat’s quality private schools that didn’t break the bank and affordable period houses, Mr Douglass said.

He had also seen a recent surge in demand for 2-4ha lifestyle properties on Ballarat’s fringe, in areas like Invermay and Buninyong.

129 Webster Street, Lake Wendouree, is Ballarat’s highest-selling house of 2020 so far.

This bathroom is a highlight of 129 Webster Street.

While Melbourne buyers aren’t permitted to travel to regional Victoria to inspect homes during the stage four lockdown, Mr Douglass is expecting the floodgates to open when the restrictions ease.

“We’re excited about what the spring’s going to bring,” he said.

MORE: How a Rye vendor sold her own home

The Croydon house buyers are dying to inspect after stage four eases

West Footscray California bungalow renovated with contemporary industrial edge

samantha.landy@news.com.au

1. 412 Wendouree Parade, Lake Wendouree:

$4.25m, February 2019

2. 424 Wendouree Parade, Lake Wendouree:

$3.73m, January 2018

3. 1444 Sturt Street, Lake Wendouree:

$3m, October 2014

109 Webster Street, Lake Wendouree sold for $3m in 2016.

Inside 109 Webster Street.

4. 109 Webster Street, Lake Wendouree:

$3m, November 2016

5. 120 Wendouree Parade, Lake Wendouree:

$2.925m, November 2018

6. 309 Wendouree Parade, Lake Wendouree:

$2.7m, October 2014

143 Wendouree Parade, Lake Wendouree, is another of Ballarat’s top sellers at $2.6m.

A snazzy bedroom at 143 Wendouree Parade.

7. 143 Wendouree Parade, Lake Wendouree:

$2.6m, February 2018

8. 129 Webster Street, Lake Wendouree:

$2.55m, April 2020

13 Wendouree Parade, Lake Wendouree, sold last year, according to CoreLogic.

A bar, rumpus room and indoor pool at 13 Wendouree Parade.

9. 13 Wendouree Parade, Lake Wendouree:

$2.45m, March 2019

112A Wendouree Parade, Lake Wendouree, fetched $2.34m last year.

The sleek interior of 112A Wendouree Parade, Lake Wendouree.

10. 112A Wendouree Parade, Lake Wendouree

$2.34m, July 2019

Source: CoreLogic


Some off-market or undisclosed transactions may be missing. Only single residential dwellings included

The post Ballarat’s most expensive sales dominated by Lake Wendouree houses appeared first on realestate.com.au.

No Comments

Millionaires’ Row mansion sale among the biggest this year

187-191 Hedges Ave, Mermaid Beach.

A Mermaid Beach mansion has changed hands in an off market deal being touted as the “highest sold price that settles in 2020”, putting the sale in the vicinity of $20 million.

Nat King and Amir Mian of Amir Prestige Property Agents reported 187-191 Hedges Ave as “just sold” on social media over the weekend.

187-191 Hedges Ave, Mermaid Beach.

The somewhat cryptic post hints at the sale being somewhere in the same league as the $25 million deal done on 2 Heron Ave, Mermaid Beach in May – the highest on the Gold Coast so far this year.

The 1214 sqm Hedges Ave holding was last sold for $16.5 million by real estate king and racehorse owner David Henderson and his wife Rhonda in August 2017.

MORE: Inside an award-winning Gold Coast new build

Amazing acreage properties on the market now

Main river spending spree pushes $80m

187-191 Hedges Ave, Mermaid Beach.

The Hendersons built the house in 2010 after paying $4.5 million for the absolute beachfront block surrounded by parkland.

They first put it to market in August 2016 with an asking price of $19.75 million, later slashing that to $16.995m in a bid to revive the campaign.

187-191 Hedges Ave, Mermaid Beach.

The discount did the trick, with a cash offer from Austworld plumbing group’s Sam Raso and wife Rosa proving too good to refuse.

Designed by architect Paul Uhlmann, the three-storey mansion holds a commanding street presence across three blocks, featuring intricate hand laid stonework.

An internal lift provides access from the seven-car basement to multiple living areas and five bedrooms, with a sauna, cocktail bar, library and a gym among the luxury inclusions.

The post Millionaires’ Row mansion sale among the biggest this year appeared first on realestate.com.au.

No Comments

No price guide? No problem! How to navigate properties that aren’t priced

Supplied Real Estate FW: thinkstock

No price guide? No problem! Picture: Thinkstock

Found a house but it’s been advertised with no price guide? No worries. Here are a few tips to help you work out what it’s worth:

Build rapport with agents

The more rapport you build with the selling agent and the other agents in the area, the more they are likely to share their genuine thoughts as to how good a property is and what it might sell for. They might also warn you off properties that look good on the outside but have some hidden nightmares that you may not discover until after purchase.

Contact property managers

It’s best to try and build up a relationship with a property manager who’s connected to the selling agent as they are more likely to give you an unbiased opinion of what a property will likely rent for and what price it also might sell for. Property managers have a wealth of information as they are in the market every day and understand the demand and supply of various types of properties.

Go online

Realestate.com.au has a Sold section which enables you to check out which properties have sold and at what price in recent months. This is a great way to build up your knowledge on what properties have actually sold for as opposed to the estimated price quoted. Online photos don’t always show the true picture, so try and at least drive by the property to get a clearer picture.

MORE NEWS:

Your sneak peek into some of the world’s most amazing properties

From castles to resorts – more dream homes

Historic church’s impressive transformation

Hit the streets

It takes at least 50 to 100 property inspections to really familiarise yourself with an area and to know which are the good and bad properties. It’s best to keep a simple spreadsheet to summarise the key features of every property, how much the agent was quoting and what the final sales price was.

Attend auctions

Auctions can be a great place to find a bargain but they can also be a great place to get caught out and pay well above the odds if you don’t know what that property is really worth. Before buying, attend as many auctions as you can in the area you’re looking to buy to get a strong idea of how much they’re selling for and how many people are bidding. A property can sell for well above the reserve price for a whole number of reasons, however, this doesn’t necessarily mean it’s what the property is worth.

Use a buyer’s agent

Why pound the pavement every weekend scoping out 100+ properties when a buyer’s agent with specialist knowledge in the local market can do this on your behalf? Buyers’ agents have strong relationships with real estate agents, and have many sales comparisons to back up their bids. As they are in the industry they often know which ones to target and which to avoid. They often buy properties before they go on the market and negotiate from a non-emotional ground.

The post No price guide? No problem! How to navigate properties that aren’t priced appeared first on realestate.com.au.

No Comments

Auction app Openns up possibilities in Darwin

Realo

Agent Andrew Harding as Real Estate Central is launching a new realo app called Openn Negotiation. Picture: GLENN CAMPBELL

A NEW online sales method has exploded onto Darwin’s real estate scene.

Real Estate Central on Thursday launched Openn Negotiation, an online auction app that allows qualified buyers to bid on a property over a set period of time.

The vendor can watch the auction in real time and the buyer can see how many people are bidding and how much their bids are.

Real Estate Central sales professional Andrew Harding said the app would revolutionise the sales process.

“The benefit of Openn Negotiation is that every buyer can get involved in the process, whether they are local, national or international,” he said. “It also provides the flexibility for buyers to get involved in the online bidding process, even if they require their offer to be conditional upon finance.”

The post Auction app Openns up possibilities in Darwin appeared first on realestate.com.au.

No Comments

Gene Simmons kisses his LA home goodbye

C’mon and love me, C’mon and list me.

Kiss co-founder and bass player Gene Simmons has made the decision to part ways with his four-bedroom Los Angeles home — and has listed the Laurel Canyon multi-level abode for $3.1 million (US$2.2 million), according to the NY Post.

RELATED:
Jennifer Lawrence loses millions selling ‘secret’ penthouse


See Justin Bieber’s spectacular holiday homes around the world

Rapper Travis Scott drops $34m on curved LA mansion

Kiss co-lead singer Gene Simmons house is for sale. Picture: Realtor

A look at the back of the multi-level home. Picture: Realtor

Gene Simmons' Laurel Canyon home has listed for $2.2 million. Picture: Realtor/NYPost

Gene Simmons’ Laurel Canyon home has expansive 360-degree views. Picture: Realtor/NYPost

Kiss Concert

Gene Simmons performing with Kiss in concert at Rod Laver Arena, Melbourne. Picture: Ellen Smith/Herald Sun

Located at 2103 Ridgemont Drive, the split-level home, built in 1968, most notably looks out on 360-degree views of the city.

The sights include the downtown skyline, Griffith Observatory, the Hollywood sign and the Pacific Ocean. Floor-to-ceiling glass windows helps Simmons, and the new buyer, enjoy these stunning vistas inside too.

Kiss co-lead singer Gene Simmons house is for sale. Picture: Realtor

The luxe bedroom. Picture: Realtor

Gene Simmons' Laurel Canyon home has listed for $2.2 million. Picture Realtor/NYPost

The living area. Picture Realtor

Gene Simmons' Laurel Canyon home has listed for $2.2 million. Picture Realtor/NYPost

The living room also has a gas fireplace. Picture Realtor

The three-level house also fits two living spaces and two bathrooms across 220 sqm.

The bathrooms and two kitchens have been updated, with touches including Carrara marble. As for the windowed kitchens, which open to living areas, they have updated stainless-steel appliances.

MORE: Harry and Meghan secretly buy California mansion

LeBron James buys late soap creator’s $56m LA mansion

Nicole Kidman and Keith Urban drop $5m on new pad

Kiss co-lead singer Gene Simmons house is for sale. Picture: Realtor

One of the bedrooms backs onto the deck. Picture: Realtor


Gene Simmons' Laurel Canyon home has listed for $2.2 million. Picture: Realtor/NYPost

One of the homes two living areas. Picture: Realtor/NYPost

Kiss co-lead singer Gene Simmons house is for sale. Picture: Realtor

Views for days. Picture: Realtor

The 60s-era abode boasts decks on all three levels of the house, as well as nice-sized bedrooms — one of which features a built-in reading nook.

The Israeli-born Simmons and his wife, Canadian actress and 1982 Playboy Playmate of the Year Shannon Tweed, still own a mansion in Beverly Hills.

Simmons and Paul Stanley created ‘the ultimate rock bank’ known as Kiss back in 1974, and was made famous for his ‘Demon’ make-up he wore on stage.

In addition to playing bass, Simmons is known for his long tongue, which he frequently sticks out while performing.

Supplied Editorial KISS bass player and singer Gene SImmons announces Australian solo tour

KISS bass player and singer Gene Simmons has also toured Australia solo.

Gene Simmons' Laurel Canyon home has listed for $2.2 million. Picture Realtor/NYPost

One of the home’s four-bedrooms. Picture Realtor/NYPost

MORE:
The Weeknd’s $36.5 million mansion has ‘rave garage’

Kanye West’s shock buy after becoming billionaire

This story originally appeared in the NY Post and was republished with permission.

The post Gene Simmons kisses his LA home goodbye appeared first on realestate.com.au.

No Comments

NSW’s 10 most popular homes of 2020 reveal real estate tastes are changing

Buyer of one of NSW's most popular homes

Michael Bartley bought one of NSW’s most popular homes in Glenbrook. Picture: Sam Ruttyn

Homebuyers used to get excited by houses with a walk-in wardrobe or a glimpse of trees — now you need laser rooms, forests of palm trees and a setting near mountains or the beach.

Research into the most popular homes of 2020 revealed COVID-19 has reshaped our real estate tastes, with many seeking out dream homes on the urban fringe or in regional areas — often with unusual features.

The listings that attracted the most interest from prospective buyers online included properties on the north coast, Hunter Valley and the outskirts of Sydney.

MORE: Seller’s plan to get record low price backfires

Firebombed house sparks bidding war

Among the most popular was an estate in Dural with parking for 61 cars, a retreat near Palm Beach known as a “moon lodge” and a Blue Mountains cottage styled like a French provincial manor.

This Hudson Pde house was the most popular northern beaches listing.

Other homes attracting an unusually high amount of interest on realestate.com.au were a Bangalow house styled like a resort, complete with a forest of palm trees.

But the most popular listing in Australia was surprising — a North Gosford house with multiple holes in the wall, a rotting deck and a mould problem.

The four-bedroom house on Linden St drew more eyeballs than any other Australian property listing thanks to unconventional marketing by the agent.

6 Burrawan Place, Bangalow got a huge reception from buyers.

Gittoes agent Richard Faulkner produced a video where he gave viewers a tongue-in-cheek tour of the property describing how he “loved” the kitchen’s “mould splashback” and the “one-of-a-kind stained carpet” in the bedrooms.

He also commented that a renovation on the property — damaged allegedly by wild parties — had been started “one punch at a time”. The video went viral.

“I didn’t want anyone to think before they came that the house was better than it is,” Mr Faulkner said, adding that most of the interest was from Sydneysiders wanting to make a move.

“I’ve never seen this kind of push from Sydney buyers in this area of the (Central) Coast, especially from first homebuyers,” he said.

71 Lilli Pilli Drive, Byron Bay – the Byron area is getting more popular.

“Many people are working from home so they don’t need to be as close to Sydney any more so this area is appealing.”

Realestate.com.au chief economist Nerida Conisbee said interest in regional real estate had surged since COVID-19, particularly in the Northern Rivers region near Byron Bay.

“It’s always been a popular area but it’s become even more popular,” she said.

The second-most popular home was the Dural estate with more parking than many offices. The 2.23ha property on Carters Rd, listed for about $6.4m, comes with unique features including rooms with laser technology and green screens.

50 Carters Rd, Dural was the second most popular listing.

Images included in the listing for the property showed off the size of the pool by floating a 10m speedboat in it.

A cottage at the foot of the Blue Mountains in Glenbrook also attracted considerable interest.

Selling agent Milton Player of Chapman Real Estate said people liked the country-style setting.

“It is a charismatic home, styled really well but five minutes down the road are kangaroos and gorgeous cliff lookouts … COVID-19 is bringing more people who want greenery and to get away from the hustle and bustle.”

The buyer of the Glenbrook home Michael Bartley said his family moved to the area because they were tired of the traffic and growing density near their previous home in the Hills area.

“We wanted to be near the walking trails and mountain biking trails,” he said. “We didn’t want to be near too much development. COVID was part of it … this house had plenty of garden and character.”

10 MOST POPULAR NSW HOMES OF 2020

1. 1 LINDEN ST, NORTH GOSFORD

2. 50 CARTERS RD, DURAL

Supplied Editorial 50 Carters Road, Dural, NSW 2158

3. 6 BURRAWAN PL, BANGALOW

4. 25 PAPERBARK DR, POKOLBIN

5. 71 LILLI PILLI DR, BYRON BAY

6. 29 LESLIE RD, GLENBROOK

Buyer of one of NSW's most popular homes

7. BERRY (ADDRESS WITHHELD)

8. 5 BLACK MYRTLE CRT, TERRANORA

9. 53 HUDSON PDE, AVALON BEACH

10. 38 CITRIADORA DR, EWINGSDALE

The post NSW’s 10 most popular homes of 2020 reveal real estate tastes are changing appeared first on realestate.com.au.

No Comments

Coronavirus recovery: Melbourne battler suburbs, regional cities tipped to rebound fastest

Battler suburbs are tipped to lead Melbourne’s property market recovery while traditionally bulletproof blue-chip pockets trail behind.

Outer suburbs Braybrook, Carrum, Kings Park and Frankston will rebound better than the city’s typical top performers after the pandemic, industry experts predict.

CoreLogic head of research Tim Lawless said “different factors at play” meant affluent areas like Abbotsford and Kew East, which had the city’s largest price gains three years after the Global Financial Crisis, would not rise as quickly to the top after this downturn.

RELATED: Coronavirus: Regional Victoria property markets hit by ban

Coronavirus: Very few Victorian tenants have secured rent reductions

Coronavirus: Tradies will abandon Vic as building economy plunges over next two years

1/6 Rigby Street, Carrum is for sale.

26 Lawn Crescent, Braybrook is under offer.

“In most cycles, the top end of the market tends to lead a downturn and the commencement of the growth cycle,” Mr Lawless said.

“We saw through 2012, and then at the beginning of last year, that the top end drove the growth … but I think if we are in a situation where we do see a lot of (first-home buyer) incentives, it could disrupt that normal pattern.”

He said first-home buyers eligible for government support would boost demand for affordable pockets like Braybrook, Heidelberg West and Kings Park, while lifestyle perks would attract people to Carrum and Frankston.

CoreLogic head of research Tim Lawless.

23 Brunei Cres, Heidelberg West - for herald sun real estate

23 Brunei Cres, Heidelberg West sold for $682,000 in May.

Full Circle Property Advocates director Rob German said “satellite cities” like Frankston and Geelong were set for even more demand in years to come.

“These are areas where all services are available and they connect buyers really well to the southeast and west, where a lot of first-home buyers may have family,” Mr German said.

“People looking to spend $1.2m in the southeast can go out to Frankston South and spend about $800,000 to $900,000 on the same type of property.”

6 Merlin Court, Frankston sold for $450,000.

Weather:

Frankston’s real estate market is expected to bounce back. Picture: Wayne Taylor

Craigieburn, Mickleham and Roxburgh Park in Melbourne’s north, and Clyde and Cardinia in the east, would also attract plenty of attention in the future, he added.

“In 2008 people still had a major need to be in the inner suburbs to have good access to their workplaces, but with huge growth in IT and communication people don’t have that same need anymore,” he said.

“It’s going to shift our thought patterns on where we need to live.”

Wallan resident Peter Slay, who is selling his property at 9 Arno Court in the Hidden Valley estate, said most interested buyers were looking to escape the city.

“It’s partially because they want a bigger block and not such immediate neighbours,” Mr Slay said.

“We have three acres (1.2ha) so it feels like you’re living in the country, but you’re not too far from work in the city and all the amenities you need.”

Peter and Jill Slay at Wallan house for sale

Peter Slay is hoping to sell his Wallan home after restrictions ease. Picture: Jay Town

9 Arno Court, Wallan is for sale.

He is selling via Upside Realty, which reported a record amount of property appraisals in Victoria two weeks before stage four lockdown, according to state regional manager Matthew Florance.

“There’s a tsunami of properties that are building up for sale … I know it’s going to be even bigger than what we expect,” Mr Florance said.

He said country towns like Bendigo and Ballarat would also attract more demand from “mum and dad investors who are now emptying the city”.

Buyers from the inner city had been interested.

There’s plenty of space on the property.

“The type of person who previously bought in Kew East will be looking to invest in regional areas, where they’re going to get return without putting their hands too deeply into their pockets,” he said.

“Investors are flocking to these country fringes for better returns, while people are also moving there because they see really good, fast and reliable infrastructure being built.”

SUBURBS TIPPED FOR FAST RECOVERIES POST-CORONAVIRUS

BRAYBROOK $713,419 median house price

HEIDELBERG WEST $730,747

CARRUM $919,459

FRANKSTON $596,661

KINGS PARK $514,387

MELBOURNE’S BEST PRICE PERFORMERS POST-GFC (2008-2011)

ABBOTSFORD 32% to $659,434 median

KEW EAST 30.9%cto $898,797

WEST FOOTSCRAY 30.1%to $437,406

PASCOE VALE SOUTH 30.1% to $612,893

TEMPLESTOWE LOWER 30% $628,962

Source: CoreLogic

READ MORE: Park Orchards pad built by The Block’s Kerrie and Spence for sale

Beaumaris Honeycomb House demolished, Robin Boyd original under threat

First-home buyers ‘step back’ for stage four: Oliver Hume figures

The post Coronavirus recovery: Melbourne battler suburbs, regional cities tipped to rebound fastest appeared first on realestate.com.au.