It’s never been easy to buy when you have to sell. Two-thirds of sellers need the equity in their house to purchase a new home, which makes timing critical. In addition, there’s the added complexity of having to live through repairs and showings.
Blog
Month: August 2020
After a January-February start that made 2020 seem so promising, our industry was rocked by a tsunami of uncertainty, unlike anything we’ve ever seen. When COVID burst into the national consciousness in March, the world turned upside down for a time. In many places, real estate activity paused completely.
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On the face of it, the humble hot dog may not seem like the best indicator of economic health. I mean, it’s a hot dog; it’s either made from pork or beef and you eat it. How complicated can it be? But as I watched my beloved Yankees play to an empty stadium, it got me thinking about how many hot dogs weren’t being eaten in Yankee stadium that day.
Luxury real estate buyers lead increasingly complex lives, so it’s no surprise that many are opting for turnkey homes. Move-in-ready and furnished listings are of rising interest to buyers who are short on time and uninterested in taking on a project.
Andy Buttfield and his wife Jo Buttfield with dog Alf at their Lavender Bay Home.
BridgeClimb Sydney chief engineer and grandson of Sir Edward Holden, Andy Buttfield, has sold his long-held harbourside home at private auction, in a hush-hush deal worth more than $10m.
The home he shares with wife Jo has a point-blank view of the Harbour Bridge and city across the water.
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Gone in 72 hours for more than $20m
It’s a fitting outlook for Mr Buttfield, who was chief project engineer who developed BridgeClimb Sydney, which opened in 1998.
The Buttfields have owned their home at 35 Bay View St, Lavender Bay, for 55 years.
It went to private auction on Saturday with Mark Jackson, of Belle Property Neutral Bay.
Eight bidders registered, although only half of them took part in the on-site auction.
Mr Jackson said the property sold under the hammer for a confidential price. However he did confirm it sold “considerably over our guide”, which was $10 million.
“Properties of this calibre in Lavender Bay are rarely offered for sale,” he said.
“Our client has owned it for 55 years. What made it really special was the position on the preferred low side of Bay View Street. This made the harbour views more expansive and intimate. You feel a real connection to the water.
“Its entry was also unique because you walk straight into the living zone with those amazing views from the street, whereas other homes typically have entry via the lower levels.”
What a view!
There are views from just about every room.
Mr Jackson said 140 groups inspected the property in the lead-up to the auction – a high number considering the price point.
“People love Lavender Bay – it’s very sought-after,” he said.
“The home’s views and location on Bay View Street were the main attractions for buyers. We had many buyers from the lower north shore, as well as the eastern suburbs and upper north shore.
“A few people weren’t actually intending to purchase a new home in the near future but were so inspired by the property, they couldn’t resist coming for a look. They recognised that it was a special opportunity.”
Open plan living.
Dine with a view.
There were also inquiries from overseas, both expats and international buyers with Australian residency. These were from Hong Kong, London and the US, Mr Jackson said.
Mr Buttfield said he had never tired of seeing people climb up and down the bridge.
BridgeClimb and his legendary grandfather are not Mr Buttfield’s only claims to fame, he is also the son of late Federal Liberal senator Dame Nancy Buttfield.
Selling up in Lavender Bay is the end of an era for the couple, who have decided to move permanently to their property in Bowral, previously a weekender.
“We stayed in Bowral for four months and enjoyed it so much, my wife said, ‘why don’t we move here?’ We love Bowral, it’s a delightful environment and I just love being outdoors in the bush,” Mr Buttfield said.
Formal living.
There are multiple terraces.
“This (35 Bay View St) was a run down dump when I bought it,” he said. “I’ve spent 40 years taking a wreck of a house into something we’re proud to be in, and now the job’s finished.”
He believes he has at “at least one more project left in” him and the couple are planning to build a new home in Bowral now the Lavender Bay house is sold.
“We were very happy with the campaign and very pleased with the outcome,” he said.
“Jo and I have turned the page on this chapter of 55 years and we’re looking forward to beginning a new one in the Southern Highlands. We’ve already begun planning to build our new home.”
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At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
SEVEN News reporter and Crows game day host Elspeth Hussey may be in your home on your television screen each night, but when she’s in her own home it’s her collection of paintings, her bathroom and the natural light that she loves best.
The keen renovator, who lives with her gorgeous Hungarian vizsla Maggie, has transformed her original 1910s cottage into a work of art… literally.
Elspeth, who also is a budding artist, has curated her home to feel like a fabulous gallery with incredible Indigenous artworks from the likes of painter Debra McDonald, as well as her own original pieces.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
Her decorating style, which her friends describe as “white on white on white” acts as the perfect backdrop for her vibrant art collection.
From whitewashed floorboards, a white home exterior to crisp linen in her bedroom, the result is enviable and tranquil.
Elspeth, whose career highlights would have to include “hosting the medal presentation after the Crows AFLW team won the Grand Final in 2019”, says her goal for 2020 is “to paint more and maybe have an exhibition for my friends and family”.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
NAME
Elspeth Hussey
WORKLIFE
Seven News reporter.
CAREER HIGHLIGHTS…
Hosting the medal presentation after the Crows AFLW team won the Grand Final in 2019.
I’VE LIVED IN MY HOME FOR…
Just over 12 months.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
MY HOME IS…
A renovated 1910 Cottage in Parkside.
I LIVE WITH…
My three-year-old Hungarian Vizsla, Maggie.
I LOVE MY HOME BECAUSE…
Of the location. It’s a short walk to cafes on Hutt Street – and Victoria Park and Unley Oval for walks with Maggie.
BUT I STILL NEED TO…
Plant some new trees along the front fence.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
MY DECORATING STYLE IS…
My friends would describe my style as ‘white on white on white’.
RECENT PURCHASE
A wool floor rug from Oscar and Willow.
I COLLECT…
Paintings.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
FAVOURITE ROOM
My bathroom with its oversized bath.
HOME FAVOURITES
■ Art from indigenous painter Debra McDonald – I have four but the one in the hallway is my favourite.
■ My bathroom.
■ The natural light.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
IN MY GARDEN I HAVE…
Teddy Bear magnolias, ornamental pears and tall hedges.
WHEN I GET HOME AT NIGHT…
I pour a glass of wine and start cooking. It helps me switch off after a long day.
AT WEEKENDS I LIKE TO…
Go for longer runs, have long lunches with friends and catch up on Netflix.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
MY FIRST CAR WAS…
An old manual BMW we bought from my uncle.
I LIKE TO LISTEN TO…
All sorts – up tempo if I’m running. I’m loving the soundtrack from the Last Dance documentary.
AT THE MOMENT I AM READING…
Grown Ups by Marian Keyes and Fast Asleep by Dr Michael Moseley.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
FAVOURITE BOOK
All The Light We Cannot See.
CLEAN FREAK OR MESSY BESSIE?
The cleanest of clean freaks.
WHEN I’M HOME I LIKE TO COOK…
Everything. But lately I’ve been making a lot of pasties and tarts.
FAV CAFE/ RESTAURANT/ BAR
Bar Torino and Melt on King William Road.
FAVOURITE DRINK?
Pinot gris.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
FAVOURITE FOOD/DISH TO EAT
Dumplings.
WHEN I WAS A CHILD I WANTED TO BE…
An actress or a secretary (I was obsessed with typing).
FAVOURITE SA HOLIDAY SPOT
Port Elliot.
DREAM HOLIDAY DESTINATION
Scandinavia.
FAVOURITE SPORTS TEAM
The Crows.
SOMETHING YOU WANT TO ACHIEVE IN THE NEXT 10 YEARS?
Renovate another home.
MY NEIGHBOURS ARE…
The absolute best. I got very lucky. We have dinner and drinks regularly.
I COULDN’T LIVE WITHOUT…
My family.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
IF I COULD AFFORD IT I WOULD LIVE…
In a holiday home at Port Elliot half the time and Adelaide the other half.
MY GOAL FOR 2020 IS TO…
Paint more and maybe have an exhibition for my friends and family.
HOME MEANS…
Entertaining, good food and wine, good friends and making memories.
At home with 7News reporter and keen renovator Elspeth Hussey. Picture: Nick Clayton.
The post At home with Seven News reporter Elspeth Hussey appeared first on realestate.com.au.
Michael Gu’s (right) Mosman home is expected to come up for sale in Spring. Supplied
No signs yet of its listing, but agents will soon get the chance to take the Mosman home Michael Gu, the founder of the collapsed property group iProsperity, to a spring sale.
Gu paid $10m for the mansion back in 2017, but has recently quit Sydney after gaining an overseas travel exemption, despite allegedly owing investors $350m.
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A stunning view from the luxury home.
iProsperity’s liquidator, Cor Cordis, is understood to have sold Gu’s Rolls Royce Wraith for $502,000 with just 1039km on the clock.
The luxury Mosman market is strong.
There was a $20m-plus midweek sale of the Alex Popov-designed home of childcare mogul Brendan McAssey and his wife Elizabeth, who are off to Luggie Bank at Mittagong in the Southern Highlands.
The home was bought for $10m in 2017.
The four-bedroom home, reportedly rented by international superstars David and Victoria Beckham when they came to Sydney in 2018 for the Invictus Games, traded at $17,349,691 in 2016 when bought from Donna Doyle.
The post Spring sale expected for iProsperity founder Michael Gu’s Mosman mansion appeared first on realestate.com.au.
Gosia and Janusz Wolnik are among the Victorians who’ve renovated to get their home ready for a sale. Picture: Wayne Taylor
Victorians were the nation’s most prolific renovators during a nationwide lockdown earlier this year — because we couldn’t get to the footy.
And Melburnians are turning to the tools again to cope with a second lockdown, adding value to their homes instead of just watching Netflix.
A Canstar Renovating Survey shows 38 per cent of Australians ignored fears of losing income or employment and tipped a few thousand dollars into renovating their home.
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Victorians led the charge, with almost half of the state’s homeowners surveyed tackling a renovation worth an average $3618, according to the figures.
Kitchens, outdoor landscaping and painting, as well as bathrooms were our top priorities.
Canstar financial services executive Steve Mickenbecker said he suspected frustrated footy fans in Melbourne losing a significant winter pastime to COVID-19 restrictions had driven the high activity.
Lockdown renovations have been popular in Victoria.
“There’s something about Melbourne, the culture is a little bit different than the rest of the country, it’s a bit more around the house in winter,” Mr Mickenbecker said.
“But it’s winter and there’s no footy to go to, so you have to fill the gap.
“You can either spend that time watching Netflix, or you can invest it in your property.”
OUR TOP RENO TARGETS
Kitchen – 15%
Outdoor landscaping or painting – 14%
Bathroom – 13%
Bedrooms – 13%
Outdoor entertaining areas – 10%
Garage – 9%
Laundry – 9%
Living area – 8%
Dining room – 8%
Home office/study – 5%
Source: Canstar Renovating Survey
He said while state-level survey results were collated from a small sample size, about 100 people in Victoria, strong sales at do-it-yourself hardware havens hinted they were on the money.
And with approximately 80 per cent of those who did renovate opting to DIY, it’s likely they have continued throughout the city’s second lockdown — via home delivered tools and materials.
Bunnings national customer advocacy manager Steve Hoffman said shopping online had “become the new normal for a segment of our customers” and that renovations continued.
“We’re hearing from customers that undertaking a DIY job provides a useful physical and mental distraction to the challenges of extended time at home,” Mr Hoffman said.
Kitchens like the one at 43 Carlton Road, Dandenong North have been a priority for updates.
Plants, paint and power tools were among the most popular items being ordered, but hygiene products as well as swing sets and cubby houses were also on shopping lists.
Independent research commissioned by Bunnings found 50 per cent of Australians planned a spring cleaning project.
Ray White Mount Waverley managing director Courtney Matthews said he was regularly taking calls from “mum and dad handypeople” in lockdown asking about what they could do to give their home a lift.
“I’m video-walking through with people and talking through what can be ordered from Bunnings online,” Mr Matthews said.
He was also finding many local tradesmen were being booked in for September to handle more advanced projects.
“I reckon there will be a flurry of activity post-lockdown,” he said.
43 Carlton Road, Dandenong North has been extensively renovated.
Almost half of Victoria’s homeowners took on home renovations during Australia’s first lockdown. Picture: Wayne Taylor.
Janusz and Goska Wolnik are selling their 43 Carlton Road, Dandenong North, home after relocating their kitchen, turning their garage into a studio and replacing a wall segment with a window for more natural light.
A retired engineer, Mr Wolnik said he did as much of the work himself as he could, but brought in professionals for anything involving electrical or plumbing work.
“It can be a pretty enjoyable experience — especially when you are done,” he said.
The Carlton Road home is now for sale at $620,000-$680,000.
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THE latest addition to the Hope Island waterfront has culminated this month with the topping out of Anchorage Apartments’ $46 million fourth stage.
The project, on Sheehan Ave, has attracted strong sales interest with 65 per cent of stock already sold.
Anchorage Apartments.
The 10-story building includes 42 two, three and three-bedroom plus study apartments ranging from 140 to 280 sqm.
Anchorage Apartments’ Rick Sheida said interest in the project was surging and they looked forward to welcoming potential buyers through the building from September.
“To have already sold 65 per cent of the fourth stage by the topping out is incredibly exciting and a testament to the strong buyer proposition this development offers in terms of its waterfront location, generous apartment size, luxury finishes and amenities and spectacular views,” Mr Sheida said.
Anchorage Apartments.
“Many of our buyers are already familiar with the lifestyle and luxury of life at Anchorage having purchased into the fourth stage after living in an apartment in one of our other buildings. We look forward to showing future residents through the building in September ahead of welcoming them to their new home later this year.”
The residences feature a butler’s pantry, wine fridge, limited double lockup garages, electric car charging stations and 30 sqm balconies.
Resident facilities include a gym and Seychelles-style resort pool.
The waterfront apartments have 15m private marina berths with direct access to the Coomera River, Broadwater and beyond.
Prices in the fourth stage start at $700,000.
Anchorage Apartments.
The post Sales surging at Gold Cosat development Anchorage Apartments appeared first on realestate.com.au.