Blog

The striking new build in Mudgeeraba’s Jabiru Estate has sold for $4.6 million.

A mind-blowing house unlike anything else on the Gold Coast market has been snapped up for a record $4.6 million well ahead of the planned auction.

The stunning two-level, seven bedroom residence in Mudgeeraba’s Jabiru Estate had been on the market for less than a week before a local buyer swooped.

Jabiru House, Mudgeeraba.

Harcourts Coastal agent Katrina Walsh, who led the marketing campaign on Jabiru House — due for auction on September 23 — said the one-of-a kind residence attracted a frenzy of interest.

“We were inundated with inquiry from expats, interstaters and locals,” she said.

“The local buyer was attracted to the architecture, the green and the privacy.”

SeaBreeze building designer Renee Ellen and builder Paul Lingard worked together to design, construct, landscape and style the property on behalf of the overseas sellers.

Jabiru House, Mudgeeraba.

Ms Ellen drew heavily on Brazilian architecture while embracing the Japanese ethos of wabi-sabi, whereby beauty is discovered in imperfection.

“Brazilian architecture is very fundamental — it’s very sculptural, it’s big boxes and walls that open up,” she said. “The climate here in Queensland is very suited to that.”

The imposing facade features weathered vertical timber screening alongside hand-laid local stone while raw concrete, timber and stone create a consistent palette inside.

Jabiru House, Mudgeeraba.

The way in which the house integrates with the natural landscape was the starting point for the design which saw a horse paddock reshaped to accommodate the main structure.

“Working overseas for a long time really opened up my mind up to taking a fresh approach, letting the potential of the land and the house talk to you,” Ms Ellen said.

Jabiru House, Mudgeeraba.

Custom-made furniture, fittings and decor, many sourced from abroad, saw the final interior touches applied to the 12-month project earlier this year.

“The house is unique in that luxury finishes have been used where they belong rather than anything having been copied from a magazine,” Ms Ellen said.

“The most difficult aspect was making everything appear quite effortless.”

Jabiru House, Mudgeeraba.

Jabiru House, Mudgeeraba.

A 25m lap pool sits partially below the ground negating the need for pool fencing while an underground gymnasium is tucked beneath the basketball/tennis court.

The Lagoon Way sale eclipses the $4.15 million achieved on a resort-style retreat on Jarema Drive, Mudgeeraba, sold this month by Kollosche’s Ryan Ward and Michael Kollosche.

Jabiru House, Mudgeeraba.

The post One-of-a-kind house sold for a record price pre-auction appeared first on realestate.com.au.

Nadia Fairfax and fiance Michael Wayne are the new owners of the grand Paddington terrace, Cawdor.

Fashion influencer Nadia Fairfax and her financier fiance Michael Wayne have bought the grand $4.3m Paddington terrace owned by the famous abstract painter Michael Johnson.

The four-bedroom, two-bathroom terrace, Cawdor, in Bent St had been listed with a $4.3 price guide through Benjamin Goodwin of McGrath with co-agent Evan Williams of Ray White TRG.

Ever since it sold a week ago — believed to be for a little over $4 million — the identity of the purchaser has been a mystery.

But sources have confided to the Wentworth Courier exclusively that Fairfax, 30, who announced her engagement on Instagram to Wayne in March, was won over by the 1880s home’s 2.7 metre ceilings.

MORE:
GenisisCare’s Dan Collins shoots for $18m Bronte record

Why I bought a penthouse during a pandemic

Large paintings line the walls.

It’s been owned by the Johnsons since 2012.

It’s set to be the former elite gymnast’s first home purchase — she’s been living at Wayne’s apartment in Elizabeth Bay.

Cawdor has been owned by Johnson and his wife, Margot, since 2012 when they paid $2,235,000.

They’ve since renovated.

With large paintings on most of the walls, the terrace has a bohemian feel, perhaps not surprising since Johnson had lived in New York during the early 1970s.

Fairfax is moving from Elizabeth Bay where she’s been living with Wayne in his apartment.

The modern kitchen is full of light.

On a 162 sqm block, there’s also a studio where Johnson painted one of his most famous works, Oceania, which won the 2014 Wynne Prize for the best landscape painting of Australian scenery.

The home’s features include a French marble fireplace; French doors opening into a modern kitchen and an entertainer’s deck.

The master bedroom has an ornate balcony.

Great outdoors.

Full of charm.

The Johnsons have decided to spend more time at their country property and a Woollahra bolthole.

The sale follows a string of solid Paddington results for Goodwin, including $5,675,000 for 171A Windsor St in March which is the highest in the street this year.

Goodwin is optimistic going into spring. “The market in Paddington has always, and will more than likely always be, the barometer for the eastern suburbs property sector,” he said.

“I feel that with all the goings on with the global economy, some of Sydney’s eastern suburbs — Paddington most notably — is continuing to soar, with many buyers seeing incredible value in bricks and mortar at present.”

The post Nadia Fairfax and her financier fiance buy artist Michael Johnson’s $4.3m grand Paddington terrace appeared first on realestate.com.au.

Securing a home loan could be a major obstacle for first-home buyers, despite experts tipping the group to drive Melbourne’s property market recovery.

Young people in coronavirus affected industries are being heavily scrutinised by big banks up until settlement, mortgage experts say, with wait times for pre-approval blowing out.

Mortgage Choice chief executive Susan Mitchell said those working in hospitality, tourism and retail should “expect to get more questions from the bank about (their) financial situation right up until the loan is settled”.

RELATED: HomeBuilder scheme: Geelong sales surge as first home buyers chase grants

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

C&L Residences: Collingwood apartments could cut owners’ energy bills, mortgages

Getting a home loan is getting harder for some. Picture: iStock

“Pre-approval isn’t an absolute guarantee and is subject to no adverse change in your financial situation,” Ms Mitchell said.

“The bank will look at your application again once you’ve found the property you want to buy.

“I would encourage anyone in an affected industry to ask for a fully assessed pre-approval before buying at auction so you have more peace of mind of your borrowing power.”

Carpenter Troy Hill, 28, said his pre-approval became void after coronavirus hit.

While he managed to “scrape through” and buy his first home in Kilsyth, being a sole trader made getting his loan approved a lot harder.

“It was basically just a game of cat and mouse, back and forth with the banks,” Mr Hill said.

“Banks were taking a long time to approve finance — I had to keep pushing for an extension. “This whole scenario has really impacted borrowing capacity, but I managed to still scrape through.”

Carpenter Troy Hill said he had to jump through a number of hurdles to get approval for a home loan. Picture: Mark Stewart

Home Loan Experts credit manager Sharon Xie said young people like Mr Hill were most frequently impacted by tighter lending restrictions.

“Young Australians are more affected as they are less experienced and may work in a more unstable environment,” Ms Xie said.

“Lenders may have tightened up certain policies. (But they are) are still willing to lend as long as your employment is continuing.

“In fact, the majority of lenders have announced they are willing to consider people who are on JobKeeper income.”

Banks are reported to have a bottleneck of loan applications. Picture: Ian Currie

It comes as property pundits tipped first-home buyers would lead the way in Melbourne’s coronavirus recovery.

Corelogic’s head of research Tim Lawless said first-home buyers eligible for government support would boost demand for affordable pockets and help drive the market out of the downturn.

Bank of Melbourne chief executive Mark Melvin confirmed JobKeeper payments were considered a type of income for home loan applications, and lending criteria had not changed for specific industries.

“We have made significant improvements to our home loan processing during COVID-19 and the majority of our applications are being processed within our standard turnaround times,” Mr Melvin said.

“Bank of Melbourne has also recently reduced lender’s mortgage insurance to just $1 for eligible first-home buyers.”

Buyer’s advocate Cate Bakos said some of her clients had experienced 40-day queues for assessment at the major banks.

Cate Bakos said some of her clients had experienced 40-day queues for assessment at the major banks. Picture: Mike Dugdale

Strategic Finance director and mortgage broker Mario Borg had also noticed wait times for loan assessment blow out to this length during the pandemic.

But he assured would-be borrowers banks “don’t want to stop lending, they want to make sure they’re lending to the right people”.

“There is a heightened level of scrutiny and compliance that started with the (banking) royal commission last year, then we got whacked with COVID-19, which has exacerbated it,” he said.

“(But) we’re finding the second-tier lenders are offering some very sharp deals right now.”

— with Jack Boronovskis, Samantha Landy

READ MORE:
Melbourne stage four restrictions prompt sight-unseen sales

Great Gatsby house, Balwyn North Art Deco design has Rivoli-inspired cinema

Victorian housing affordability best since 2000, single homebuyers up

The post Coronavirus: Lenders scrutinise buyers in pandemic affected industries appeared first on realestate.com.au.