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Tom Haylock and Julia Buckland got a bargain. Picture: Adam Yip

Inner Sydney has become a fertile hunting ground for bargain hunters as panicked investors try to offload apartments at lower prices in the hope of speeding through sales.

Apartments in the CBD and surrounds have recently been listed at more than $250,000 below the prices they were listed at before the pandemic hit, with some listed as “must be sold” or “urgent sale”.

The deals have come as sales data revealed unit prices in the region dropped by an average of 8 per cent over the past three months.

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Advertised unit prices in the CBD were also about 15 per cent lower than a year ago, according to SQM Research’s Asking Prices Index.

The falling unit prices were a contrast to the rest of Sydney, where low housing supply has largely insulated the market from the economic fallout from coronavirus.

$250K DISCOUNT: This three-bedroom unit in a building at 361-363 Kent St was first listed at $1.55m, now it’s $1.35m.

Prices for all housing categories across the Greater Sydney area have dropped by about 3 per cent since the pandemic first hit, with house prices in regions such as the eastern suburbs and northern beaches little changed.

The weaker inner city unit market was largely the result of landlords struggling with long-term rental vacancies.

Many relied on international students, travellers and hospitality workers to tenant their properties but they were no longer getting rents because of travel restrictions, job cuts and younger renters moving back in with parents.

My Housing Market economist Andrew Wilson said the falling rents would encourage more investor owners to sell units but, with fewer other investors in the market to buy them, many would struggle to attract buyers.

$95,000 DISCOUNT: this one-bedroom unit on Wattle St in Ultimo was first listed at $855,000 but is now $760,000. The 2014 price was $770,000.

This would force investor to make further price cuts. “The inner city unit market is Sydney’s weakest and will probably remain so until international travel restrictions are lifted,” Mr Wilson said.

Among the inner city units listed with a major price saving is a one-bedroom unit in a building at 161 Clarence St. The property was listed in February for $1.05m but the price has since dropped to $960,000.

A two-bedroom unit at 361-363 Kent St is currently listed at $1.35m, $250,000 below the March price.

In nearby Ultimo, a unit on Wattle St is currently for sale at $735,000-$760,000 after originally coming to market at $826,00-$855,000. The 2014 price was $770,000.

This two-bedder in Ultimo was for sale at $1.2m, now the price is $1.03m.

A similar unit a few blocks away on Jones St is listed at $220,000 below the original listed price.

Mortgage Choice director and broker James Algar said buyers prepared to act quickly often got the best bargains.

Those armed with pre-approval for a loan, a pre-determined budget and idea of what their repayments would be tended to have an advantage going into price negotiations, he said.

Tom Haylock, 32, and Julia Buckland, 29, recently bought a Warriewood home for about $300,000 below the pre-Covid price.

They were surprised to have snared the bargain after being repeatedly outbid at auctions last year.

“The property just popped up and it had a fair price guide,” Mr Haylock said.

$50K DISCOUNT: this one-bedder in a building at 433-435 Kent St, Sydney, was $780,000, now its $730,000.

“We first thought we had no chance, we were so used to being outbid, but the owner needed to sell in a hurry … our offer was accepted over another couple because we already had pre-approval for the loan. They didn’t.”

He added they were stoked to get the home for $1.4m after realising similar properties were selling for around $1.7m before the pandemic hit.

They later found out the investor owner had sold the property alongside multiple other homes. “We got the feeling it was a panic sale because of Covid,” Mr Haylock said.

“We’re really happy with it. We had gone to so many open homes and many of them were unliveable but they would still sell for crazy prices … this was different.”

The post Inner Sydney unit prices are getting slashed as investor owners try to speed up sales appeared first on realestate.com.au.

If The Block was a whodunit, it could be accused of revealing its prime suspect too early.

It was pretty obvious that Luke and Jasmin were going to be this week’s room reveal losers from the sheer number of times Jasmin proudly declared her complete aversion to period details — in a show about renovating period houses.

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“I’m not really into traditional touches,” she says near the start of this episode, when discussing what they’re doing with the guest bedroom in their 1910 home.

Obviously Luke wasn’t paying attention, telling a producer “We’re really trying to match everything to the 1900s” earning a sharp rebuke from his wife.

“Nothing in this room is 1900s. Have you seen a 1900s bedroom? They’re gross,” she says.

Harsh.

“I just can’t bring myself to pick something traditional,” Jasmin says later, when choosing her pendant light.

Luke and Jasmin’s guest bedroom was lacking in any 1910s touches.

The final nail in their chances of not coming last is a Venetian plaster feature wall, which neatly commits two sins with one stone. Not only was it completely out of character for the house, it was so The Block 2019. Matt and El’ise used it extensively in their reno last year, and if there’s anything the judges hate more than a lack of period details, it’s a lack of originality.

“What decade are we in,” judge Shaynna Blaze asks when she walks in.

“You wouldn’t know, would you,” Neale Whitaker murmurs.

Although the judges find the room, with its blue velvet curved bedhead, panelled wardrobe doors and plantation shutters, pleasant enough, they think Luke and Jamsin have entirely missed the brief.

“It’s a crying shame,” Shaynna says. “It’s confused of what it wants to be.”

While Neale notes that “a lot of buyers would walk in here and say ‘what’s the problem?’” it’s not enough to save the pair from the wooden spoon with a score of 20.5 out of 30.

Similarly deflated are Sarah and George. They thought they were on a winner when they divided their enormous guest bedroom in two to create a study plus bedroom.

Sarah and George’s guest bedroom lost out for having a door that opened on to a wardrobe…

…And a dull study.

They won points for their grey and rose colour scheme, faithful door handles, professional paint job and embroidered bed throw that reflected 1940s carpet trends, but the fact they designed their room so the door opened straight on to the corner of the wardrobe let them down.

The judges pointed out they could easily have just moved the door further up the hallway to avoid the problem.

Eagle-eyed Shaynna also criticised them for not taking note of the sharp square detailing in the rest of the home’s cornices and skirting boards and matching it.

“They are the most divine period details I’ve ever seen in a 1940s house, and they give us this,” she says.

“They have decided to give us their version of the ‘40s and have not looked in the hallway. I’m actually upset.”

The judges agreed the study was well executed but Shaynna thought a walk-in robe would have been a better use of the space.

Neale called the study “generous but dull”.

The pair score 21 out of 30 for their efforts.

Dramatic skylights won praise for Harry and Tash’s guest bedroom.

Father and daughter team Harry and Tash get the middle spot for their 1920s guest bedroom.

Their Velux skylights and raised ceiling are show stoppers, and their choice of venetian blinds over plantation shutters are considered genius for matching their time period. (Never mind that they only chose them because shutters wouldn’t fit, a win is a win).

Their colour scheme of deep rose and grey, velvet bedhead, marble bedside tabletops and black accents in the wardrobe handles, downlights and curtain rod wins big points.

“I’m quite blown away,” Shaynna says, noting that the pair came dead last in week one with their botched beach box.

“These are period homes but I didn’t want a museum piece. I wanted to see a house that nodded to the era, and that’s what they’ve done,” Neale agrees.

Their only failure is their carpet.

“I’m getting office, not luxury,” Shaynna notes.

Daniel and Jade’s guest bedroom came heartbreakingly close to winning.

Coming a heartbreakingly close second are SA farmers Daniel and Jade. With their debt-ridden, drought-affected property in the outback, they’re surely shaping up as the sentimental favourites here.

They’ve chosen the 1930s house right in the middle of the row, and made excellent use of a stunning old etched glass pendant light they found under the floor. Cleaned up and hanging from a perfectly chosen ceiling rose, it sets the tone for their room.

Art deco architraves and cornices, and period perfect door handles also wins them points. They lose them for not having bedside tables, and for choosing plantation shutters over more in-keeping with the ‘30s curtains.

Still, they can take heart from causing judge Darren Palmer to say this of a pair of wardrobe door handles: “Yum”.

Winners Jimmy and Tam prompted some debate between the judges about whether their choices were really 1950s enough. Their palm printed feature wallpaper, sheer curtains and green velvet bedspread could have been at home in a 1960s or 1970s renovation, but after much discussion it’s decided their room is in fact 1959.

“We aimed for 1959,” Tam agrees.

Jimmy and Tam were able to party like it’s 1959.

The judges are won over by another set of Velux skylights and an ensuite door hidden in a row of wardrobe cabinetry.

“This one has got me by the heartstrings,” Shaynna says.

The Queensland pair score 25.5 out of 30, giving them two wins from two, picking up $10,000 for their budget plus a mind-blowing $120,000 worth of Gaggenau kitchen appliances.

SCORES

1 Jimmy and Tam 25.5

2 Daniel and Jade 25

3 Harry and Tash 24

4 Sarah and George 21

5 Luke and Jasmin 20.5

MISSED AN EPISODE?

Episode 3 recap: “So two years ago”. Team’s boring room slammed

Episode 2 recap: Disappointment as Block houses are handed out

Episode 1 recap: Block 2020 tears start flowing early

The post The Block 2020 episode 4 recap: Shaynna blasts WA couple for ignoring the brief appeared first on realestate.com.au.

The home is a converted stables.

Forget box cutter coffered ceilings, parquetry floors and decadent staircases, this is the authentic kind of French provincial outside of France.

A charming converted stables at 4 Tobin St, Maldon is offering buyers the real deal.

The two-bedroom house is on the market with an asking price of $698,000, but Castlemaine Property Group agent Elouise Dale doesn’t expect it to last long.

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Welcome to The French Quarter.

Whitewashed stone walls and timber ceilings are a feature.

Known locally as The French Quarter, the property features textured brick walls, a rustic kitchen, and a courtyard in the dappled light provided underneath draped vines.

A loft in the tri-level home has also been converted into a yoga studio.

Ms Dale said the artistic vendor transformed the property after picking it up as a small bed and breakfast in 2008.

Vines cover the courtyard.

Just add a drop of wine.

Rustic charm in the kitchen.

The loft has been converted into a yoga studio.

“She’s from the southern states in America and I think that French influence is quite strong in her home state,” Ms Dale said.

“At first it was just her weekend escape; she loved it because she could walk in the door, put her bags down and walk outside for a glass of wine.”

Now with the vendor moving closer to Melbourne to be nearer to her grandkids, there had already been strong interest in the site, Ms Dale said.

A sitting room or guest’s bedroom with kitchenette.

The property has a $698,000 asking price.

The main bedroom.

“It’s really gorgeous and everyone whose been there has said it’s better than the videos, which is unusual,” she said, adding the whitewashed stone walls had been particularly popular.

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jack.boronovskis@news.com.au

@jackboronovskis

The post The French Quarter: Maldon converted stables a French provincial statement in class appeared first on realestate.com.au.

The 1840s interior of this Regentville home has been retained.

It’s been nearly 180 years since it was built and, though much has changed in the world around it, this Western Sydney workers’ cottage has remained the same.

The three-bedroom house on Bungarra Rd in Regentville near Penrith recently sold for $1.49m and has an interior that still reflects how people lived when it was constructed back in the 1840s.

The sandstone walls have been retained, with parts still covered in what appears to be the lime wash often used in old settler cottages at the time.

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Floors are a mix of hard timber and concrete and most of the rooms are centred around the old fireplaces.

Owned by the same family for close 100 years, the property sold at auction on the weekend for $70,000 over the reserve price. The auction attracted seven registered bidders.

The home sold at auction for $70,000 over reserve.

Selling agent Joshua Cassells of Starr Partners said it was a high price considering the strict heritage restrictions.

“It was like a museum,” Mr Cassells said. “You’d have to be careful with any changes.”

The home was largely in original 1840s condition because the sellers had respected the history of the home and kept it in excellent condition, Mr Cassells said.

“It was a once in a lifetime sale, literally,” he said. “It’s been in the same family for a very long time.”

The home was owned by one family for close to 100 years.

The home was originally constructed as housing for mill workers and had been part Sir John Jamison’s Regentville Estate. It was later converted into a single dwelling in the 1930s.

The three-bedroom building is the last remaining evidence of a previous riverside development in the region.

The house was one of 780 Sydney property that went to auction this week, roughly a quarter more than last week and 32 per cent more than over the same week last year.

There were seven bidders.

Preliminary data showed about 75 per cent of the auctions were a success for the vendors – up from last week’s auction clearance rate 66 per cent.

The clearance rate may fall as more results are reported due to the tendency for agents to report positive results faster.

The post Time warp home from 1840 hoisted into modern era with $1.49m sale appeared first on realestate.com.au.

Sean O’Hara, with sons Aidan, Jesse, and Zac, at their home in Dee Why up for sale. Picture: Tim Hunter

Houses with backyards have been getting harder to come by across much of Sydney during the pandemic and the shortage of sales has kept prices high despite the weaker economic conditions.

Analysis of real estate listings showed there were less than 100 houses for sale within a 10km radius of the CBD with a price tag under $1.5m, with much of the housing requiring substantial work.

There was a similar situation in the city’s coastal regions, with less than 50 houses for sale under $1.5m in the northern beaches and a similar number in the eastern suburbs.

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The lower supply of houses with backyards comes amid an increase in unit owners seeking to trade up to bigger properties.

This increased competition among buyers and meant opportunities to get a bargain price for “family-friendly” properties evaporated.

CoreLogic’s Eliza Owen said COVID-19 had a bigger impact on listings than prices.

Housing experts said a different dynamic was at play in the inner city unit market, where supply has been rising while demand from investors – historically the biggest market for units – has nosedived.

House supply in Sydney’s west was also significantly higher with close to 4000 houses up for sale, according to My Housing Market data.

“There’s more demand for bigger properties and work from home arrangements have probably been a factor in that,” My Housing Market economist Andrew Wilson said.

“The Sydney economy has also done better than many expected and buyers have adjusted to that reality.

“Buyers of mid-range houses have been less affected by job cuts, they’re still active, so prices for houses have been flat rather than falling.”

CoreLogic data showed Sydney’s median home price has dropped by about 2 per cent since the COVID-19 crisis started in March but remains about 12 per cent higher than a year ago.

CoreLogic head of research Eliza Owen said COVID-19 had a bigger impact on the number of properties marketed than prices.

New listings during the stage two restrictions from mid-March to early May fell 50.3 per cent. Listings later bounced back but remain below levels reported last year, she said.

Dee Why residents Sean and Kristy O’Hara realised it was a good time to be listing their home after realising there was a dire shortage of freestanding houses with backyards in their suburb.

Their two-level house on Turner St is one of just 10 houses up for sale in the suburb. It is also one of only six priced under $2m.

Backyards like those in the O’Hara’s Dee Why house are becoming rarer. Picture: Tim Hunter.

There were even fewer listings in surrounding suburbs Narraweena and Cromer, while southern neighbour Curl Curl had just three house listings.

The low supply has come at a time of rising demand in the area — realestate.com.au data showed northern beaches properties attracted among the highest levels of interest online.

“Just looking at what’s on offer in our area it’s pretty obvious there is a shortage,” Ms O’Hara said.

The couple are moving to a nearby home with “renovation potential” and will be seeking to fix it up. Their home goes to auction September 12 with Belle Property agent Nick Duchatel.

The post Most competitive suburbs for buyers: the Sydney areas where houses with backyards are in short supply appeared first on realestate.com.au.

J. Lo and A-Rod have splashed out on a $45m mansion on Star Island. Picture: Realtor/Getty

For the couple who has everything, adding a spectacular piece of real estate to a burgeoning portfolio is par for the course.

A-listers Jennifer Lopez and Alex Rodriguez have acquired a staggering $45 million (US$32.5 million) waterfront property on the celeb-studded Star Island in Miami Beach, according to TopTenRealEstateDeals.

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The home has its own jetty. Picture: Realtor.com

The sweeping abode sits on Star Island in Florida. Picture: Realtor.com

What a view. Picture: Realtor.com

One of the home’s 10 bedrooms. Picture: Realtor.com

Built in 2003, the estate last changed hands in 2011 for $US25.5 million. At that time, it was one of the highest-priced sales ever in Miami Beach. The owner proceeded to renovate and expand the home to make it even grander.

Jennifer Lopez and Alex Rodriguez, who have been together since 2017, both share a love of real estate, and have been collecting houses almost as often as Rodriguez collected base hits for the New York Yankees.

The kitchen Picture: Realtor.com

Picture: Realtor.com

The huge shower in the bathroom. Picture: Realtor.com

With multiple homes across America’s east and west coast, and currently living in one of their homes in Coral Gables, Florida during most of the pandemic lockdown, the pair ventured out recently to purchase this mansion, which is located on South Florida’s island of super-rich CEOs and entertainers.

Star Island is one of several man-made islands built back in the 1920s, and access to the oval-shaped island is by a single road. The guard-gated, exclusive enclave has just under three dozen extremely expensive homes, and is often referred to as Miami’s Millionaires’ Row.

Luxury everywhere. Picture: Realtor.com

What a view to wake up to. Picture: Realtor.com

Island living. Picture: Realtor.com

J-Lo & A-Rod. Picture: Realtor.com

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Consisting mostly of Old Florida-style homes with a few modern builds, the Lopez-Rodriguez mansion features large open-and-airy rooms that open to the sea from their backyard Biscayne Bay.

Residents, past and present, include Gloria Estefan, Sean ‘Diddy’ Combs, Don Johnson during his Miami Vice days, and Shaquille O’Neal.

Most of the rooms open to the sea. Picture: Realtor.com

Tonnes of natural light in the living rooms. Picture: Realtor.com

Picture: Realtor.com

What a palace. Picture: Realtor.com

Sitting on almost an acre of land, the 1,370 sqm home has 10 bedrooms, 12 bathrooms, an elevator, library, wine room, stunning kitchen, family room, a guesthouse and a 33m wooden dock.

The expansive pool deck has an infinity pool with spa and views of the bay and Miami skyline.

Jennifer Lopez and Alex Rodriguez in 2019 in New York City. (Photo by Dimitrios Kambouris/Getty Images)

Tonnes of room to entertain. Picture: Realtor.com

Picture: Realtor.com

Another bathroom. Picture: Realtor.com

Room for a pair of shoes or 40. Picture: Realtor.com

Architectural details include exterior white rendering, large arched windows, interior Venetian plaster walls and antique fireplaces including one in the main bedroom.

It won’t be long until Jennifer Lopez and Alex Rodriguez move in, and will soon be enjoying life in their new mansion on the water with the twinkling lights of Miami in the background.

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Picture: Realtor.com

Picture: Realtor.com

Picture: Realtor.com

The post Inside Jennifer Lopez and Alex Rodriguez’s new $45 million island home in Florida appeared first on realestate.com.au.

The Novar Gardens residence at 3-5 Old Drive is palatial inside. Pic: realestate.com.au

Fancy a lavish home where you can live like royalty?

The glamorous Novar Gardens residence at 3-5 Old Drive won’t disappoint.

Silk wallpapers, Waterford crystal chandeliers, an Adam-style fireplace, arched pocket French doors, domed ceiling roses and marble bathrooms are among the classy features that make the house feel like a palace.

The much-loved family home on a 1724 sqm block is on the market for the third time since it was built in 1969 by racing identity Pat Cummings.

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Waterford crystal chandeliers and an Adam-style fireplace are among its classy features. Pic: realestate.com.au

It’s grand and elegant at every turn. Pic: realestate.com.au

Even the curtains give it a palatial feel. Pic: realestate.com.au

Owners John and Dawn Eastwood bought it in 1998 as a grand home but they are responsible for making it the elegant residence it is today.

“The layout of the house attracted us, very much so,” Mr Eastwood said.

“But we’ve upgraded it quite substantially.

“Pat Cummings built the house and he had five children … so it’s quite a large house.”

Like a palace, the house is split into separate wings, with five bedrooms on one side and the main living areas on the other.

The backyard is just as elegant, with a sparkling white-tiled pool and manicured gardens setting the scene.

The arched French doors offer picturesque views of the backyard. Pic: realestate.com.au

Name a more impressive bathroom than this, we dare you. Pic: realestate.com.au

The perfect spot to wind down after a long day. Pic: realestate.com.au

Harris Real Estate agent Karen Dorman, who is selling the property with Tobi McFadyen, said it would be difficult to replicate the house’s style today.

“To build something like that now, it would be very expensive,” she said.

It hasn’t been on the market long but Ms Dorman said it was already attracting interest from prospective buyers.

“It’s more from established families or people living locally who don’t want to build anything massive,” she said.

It is on the market with a price guide ranging between $1.45 million to $1.55 million.

The post Live like royalty in a palatial Novar Gardens home appeared first on realestate.com.au.

This apartment at 3/81 Moray St, New Farm, sold to a cash buyer for $4.8m.

BUYERS hamstrung by COVID-19 are pouring their life savings into bricks and mortar instead of shares or holidays, paying cash for multi-million dollar properties across Brisbane.

With more buyers than listings and money cheaper than ever, local agents are seeing a growing trend in the number of home hunters “with money in the bank” who are not prepared to wait out the pandemic to secure their dream home.

And local agents say now is the time to buy without having to compete with interstate buyers for the best homes on the market.

Joseph Lordi of McGrath Estate Agents sold a home on Brisbane’s bayside this week for a whopping $8.5 million — and the local buyer paid for it in cash.

This property at 32 Sentinel Court, Raby Bay, has sold for $8.5m in a cash deal.

Mr Lordi said the sale of the five-bedroom home on 2300 sqm of beachfront land at 32 Sentinel Court in Raby Bay attracted seven offers — all from cash buyers — before selling to a middle-aged couple with “money in the bank”.

“Cash is king right now,” Mr Lordi said.

“At this price point — north of $4 million — there’s a lot of cash buyers.”

The view from the property at 32 Sentinel Court, Raby Bay.

Mr Lordi said he had started to really notice the trend in the past 12 months, when his agency sold four properties for more than $3 million each to local buyers, and all were cash contracts.

“We’re finding interstate buyer inquiry is pushing up the local buyers’ (prices),” he said.

“The inquiries from interstate are still there, but they just can’t get here. I have one lady with a budget of $10 million who has sold in Toorak and is now renting, but can’t wait to get back to Brisbane to buy because that’s where she’s from.

“The window of opportunity to buy without having to compete with interstate buyers is now. That’s what we’re telling (buyers) and I am noticing more urgency.”

Brisbane’s bayside is attracting cash buyers, according to local agents.

Mr Lordi said smaller sales around the $1 million to $3 million price bracket were to buyers who had either sold their previous home earlier in the year or had pre-approval and cash ready to go.

He said some buyers were even taking their money out of shares and putting it into property instead.

“I sold another one this week for $1.29 million in cash,” he said.

This townhouse at 5/1 Cross Lane, Cleveland, recently sold for $1.46m in cash.

The five-bedroom home in Tarragindi is yet to go unconditional.

Mr Lordi said he sold another property — a four-bedroom townhouse at 5/1 Cross Lane, Cleveland, prior to auction earlier this month for $1.46 million in cash, and another at 36 Raby Esp, Ormiston, for $1.225 million in cash, also prior to auction.

“I think people are seeing the value for money in the bayside, and the lifestyle,” he said.

“We’re getting a big feeder market from inner-city suburbs like New Farm, Bulimba, Ascot.

A knockdown property on a double block at 36 Raby Esp, Ormiston, recently sold for $1.225m to a cash buyer.

Especially downsizers who have sold their home for $2.3 million and are getting a waterfront property with a pontoon here for the same sort of money.”

“I feel people are seeing the advantages of having cash at the moment,” Mr Lordi said.

Place Kangaroo Point agent Simon Caulfield said buyers were turning to property because they were getting such low returns for having their money sitting in the bank and or in the volatile sharemarket.

“I think this might be the new norm,” Mr Caulfield said. “It makes sense economically, and from a lifestyle perspective.

“If you do the maths on $4 million and buy a property with it versus having the money in the stock market or getting a 1 per cent return from having it in the bank, you might as well buy something nice that you can also live in and get further enjoyment from.”

This apartment at 7/2 Scott St, Kangaroo Point, has sold for $4.4m in a cash deal.

Mr Caulfield has just sold an apartment in Kangaroo Point for $4.4 million to a younger cash buyer, who wanted an amazing property to enjoy because they could no longer travel.

“It’s hard to comprehend that level of funds and not think; ‘Wow, that’s a lot of money to put in one asset, but it shows the level of confidence,” he said.

The view of Brisbane CBD from the apartment at 7/2 Scott St, Kangaroo Point.

Mr Caulfield said buyers at the top end were no longer prepared to wait out COVID-19 to secure their luxury home.

“I think the reality has sunk in for people who have been sitting on their hands for six months. If you’ve got a lot of money, what do you do with it?” he said.

“There a lot of cash buyers, but not a lot of stock, so that’s starting to create a bit of competition.”

Patrick McKinnon of Place Ascot recently sold a home in Hendra for $2.4 million in a cash unconditional deal to a local family.

Mr McKinnon said the five-bedroom property at 36 Newmarket Street was on a 506 sqm block, with a pool and pool house.

This home at 36 Newmarket St, Hendra, sold for $2.4m cash.

He said he had three offers on the property before the vendors settled on the price.

“As long as COVID stays away, I think we’re going to have a cracking Spring,” Mr McKinnon said.

“Because people aren’t going on overseas holidays, they’re restructuring their lives and deciding where they want to live.”

Mr McKinnon said a number of sale-ready properties that had been put on hold a few months ago were now coming back on the market as vendors regained confidence.

“It’s just crazy money,”

“I just think all these people who are now buying are saying; ‘We want a nicer house, money’s cheap, let’s buy now’.”

The front of the house at 36 Newmarket St, Hendra.

And when it comes to properties, the bigger the better it seems, with the coronavirus changing buyer preferences.

“I think people are very mindful they need room to be able to work from home now,” Mr McKinnon said.

But buyer’s agent Lauren Moore of Lauren Moore Property said she did not recommend her clients buy with cash.

This apartment at 3/81 Moray St, New Farm, sold to a cash buyer.

“Unless a buyer literally has the full amount of cash for the purchase sitting in their bank account, it’s an extremely risky move in any market, but especially in a market like this,” Ms Moore said.

“There are purchasers that are prepared to take the risk, but as a buyer’s agent we guide our clients on the risks associated with making a cash offer and always recommend they discuss with their solicitors.

“If one party loses a job, or the valuation doesn’t stack up and they only have pre-approval, they need to find the rest of the money to complete the purchase.”

A render of The Oxlade penthouse, which sold to a cash buyer for $7m.

BRISBANE’S BIGGEST CASH HOME DEALS OF 2020

Address Sale price

32 Sentinel Court, Raby Bay $8.5m

Penthouse at 80 Oxlade Dr, New Farm $7m

404 Bowen Tce $2.24m

3/81 Moray St, New Farm $4.8m

7/2 Scott St, Kangaroo Point $4.4m

36 Newmarket St, Hendra $2.4m

5/1 Cross Lane, Cleveland $1.46m

36 Raby Esp, Ormiston $1.225m

3 & 4/59 Byron St, Bulimba $3.075m

1102/59 Byron St, Bulimba $1.95m

(Source: Place Estate Agents, McGrath Estate Agents)

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The Cudlee Creek property at 163 Cudlee Creek Rd offers a quiet retreat. Supplied: Williams Real Estate.

A Cudlee Creek home offers an idyllic Hills lifestyle close to quality wineries, and could be used for a range of businesses.

Donna and her husband bought the home at 163 Cudlee Creek Rd three years ago, and have since renovated it throughout.

“Everything that could be changed, repaired, replaced or repainted, from the front door to the back fence, we’ve done it,” Donna says.

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The owners have renovated the property. Supplied: Williams Real Estate.

It has four bedrooms and three bathrooms. Supplied: Williams Real Estate.

“It used to be a BnB and we’ve done that part up and modernised it – I don’t rent it out but you easily could, and friends stay over and can wake up and have their own wing of the house, and all of our guests want to stay longer.

“We hosted my sister’s wedding here and set up a massive marquee out the back – it’s certainly a place to entertain and have parties.

“The property itself is like really stepping into a botanical gardens – you can hear the creek run from the house, it’s lovely.”

The home has four bedrooms, three bathrooms, covered parking for seven cars, an extensive 90-panel 20kW sun-tracking solar system, a cellar, an outdoor entertainment pavilion and extensive equestrian facilities.

“You can make around $8000 a year from the solar panels, and that’s on top of your free power,” Donna says.

It’s listed with an asking price between $1.1 million and $1.15 million. Supplied: Williams Real Estate.

“We also put a massive commercial generator in I call the ‘Yellow Submarine’, and that can power the home for four days on one tank.

“It’s a great income-producing property, which, if you wanted to run the BnB could be something really special.

“It would be perfect for young families with ponies, or if you just want to run some sheep and have a beautiful country lifestyle it would be great even for downsizers.

“It’s very easy to maintain. I’ve got some ponies and horses and the home has CCTV throughout the property, even in the stables, so I can be inside and watch my horses sleep and you can check up on them from wherever you are.

“There are plenty of opportunities here.”

With the property transformed, the couple are now ready to let someone else enjoy it.

“It was my forever home, moving up from the city, but now our situation’s changed and we’re looking to downsize to something that’s a little easier to manage as we get older,” Donna says.

The post Mix business with pleasure in versatile Cudlee Creek home appeared first on realestate.com.au.