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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.

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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 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.

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 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

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Budding buyers should use the stage four lockdown to become purchase ready, experts say. Picture: iStock

Budding homebuyers keen to pounce once Melbourne’s stage four restrictions have been lifted should be using the period to get themselves loan ready, experts say.

That meant determining a buying budget, choosing a lender and loan type, and potentially obtaining pre-approval.

Real Estate Buyers Agents Association president Cate Bakos said those keen to take the property plunge post-lockdown should start on this now, as the major banks were taking as long as 40 days to assess loan applications amid COVID-19.

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“People need to get themselves sorted before they go shopping, and be prepared for anything as long as a two-month process. Assessment is only one part, the other part is setting up documentation,” she said.

Ms Bakos recommended using a mortgage broker, as they could help determine a buyer’s borrowing capacity and use the “broad panel of lenders and policies” they had access to find a suitable loan.

Mario Borg Strategic Finance mortgage specialist Mario Borg said to ascertain their borrowing capacity, a buyer first needed to add up their typical monthly expenses.

This could include rent, ownership costs for other properties, household bills, education and medical fees, insurance, gym memberships, food, personal shopping, and entertainment costs.

“Be honest and start prioritising what you can carry forward when you take on a home loan,” Mr Borg said.

“From that, work out how much disposal income you’d have at the end of a month, and how much debt you can comfortably afford to take on.”

Mortgage specialist Mario Borg says lenders have heightened their scrutiny during COVID-19.

With interest rates at record lows, he said it could be worthwhile “stretching yourself within the realms of affordability” to maximise your borrowing capacity.

A borrower also needed to demonstrate stable employment and an ongoing income stream. Presenting at least a 20 per cent deposit, plus purchasing costs, made you a better loan candidate by taking you “out of LMI (lenders’ mortgage insurance) territory”.

Mr Borg recommended a principal and interest loan over interest only, unless you had a “strategic reason”.

Obtaining the lowest interest rate didn’t necessary mean you were getting the best deal, with some lenders offering “honeymoon rates” that increased after the honeymoon period expired.

“(Also consider) ongoing fees, set-up costs, and the flexibility of the loan, as you might want to be able to make extra payments and redraw them,” he said.

“Professional advice is important to ensure your home loan keeps working for you.”

Mr Borg said borrowers should consider whether to choose a fixed or variable rate, or a major or second-tier bank, on a case-by-case basis.

Fixed gave a borrower certainty and allowed them to make the most of the current low-interest rate environment, while variable provided flexibility.

Second-tier lenders were offering “some sharp deals” and, typically, shorter turnaround times in the COVID-19 environment, Mr Borg said.

Melbourne’s stage four lockdown has created difficult buying conditions, notably banning in-person home inspections. Picture: Ian Currie

He noted the pandemic had further heightened the level of scrutiny lenders applied when assessing applications.

“They’re going through bank statements line by line, so be diligent with what goes through your statement,” he said.

“TAB withdrawals every second day are going to appear as high risk to a lender. Afterpay may limit your borrowing capacity. Get rid of unnecessary credit cards.”

While pre-approval fast tracked the loan process after you had purchased, Mr Borg warned it was “not bulletproof”, as it was subject to your financial position and income remaining unchanged, and hinged on you choosing a property a lender deemed “satisfactory”.

But Ms Bakos said she was typically “quite anxious about working with buyers who don’t have pre-approval”.

“We can’t just assume a lender will be prepared to lend to them,” she said.

“Despite lower interest rates, we’ve got some really tough credit regimes at the moment.”

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samantha.landy@news.com.au

The post How to get home loan ready including setting a budget appeared first on realestate.com.au.

56 Darby Rd, Echunga. Picture: Supplied.

Looking to escape from the hustle and bustle of suburban life and enjoy life in your own slice or rural paradise?

Boasting a mix of horse paddocks, vegetable gardens, fruit trees and a self-contained studio, this versatile 4.47ha Echunga property – named Providence – could be the answer.

56 Darby Rd, Echunga. Picture: Supplied.

Keith and Jen Chiswell and two of their four sons moved from Adelaide 11 years ago, attracted by the property’s spaciousness – both inside the updated five-bedroom brick veneer home and out.

“We like to entertain a fair bit and there is a lounge room, a family room and a rumpus room – and they’re all sizeable,” Mr Chiswell says. “When we first saw it, we thought it was an ideal home … it gives everyone their own space.”

56 Darby Rd, Echunga. Picture: Supplied.

And with six paddocks, stables and a fully-fenced arena, Providence is set up for horse-lovers. “My wife had two horses at the time we moved up here … and it just seemed to fit the bill,” Mr Chiswell says. “It is quite unique.”

The property is ideally set up for self-sufficient living, with an 8kW solar system, an orchard – boasting a wide variety of fruit trees – a chicken coop and six vegetable plots among its standout features.

56 Darby Rd, Echunga. Picture: Supplied.

There is also a fully-equipped bore, rainwater tanks and shedding, while the solar-heated pool is another attraction.

Moving back into the city for family reasons, Mr Chiswell hopes the next owners would enjoy Providence as much as they had: “The place has been absolutely fantastic for us … we’ve really enjoyed the space and the quiet,” he says.

56 Darby Rd, Echunga. Picture: Supplied.

He says the property offers plenty of options, with the possibility of renting out the stables and paddocks as agistment.

There is also a versatile separate self-contained studio which could be used as a home office or separate accommodation.

56 Darby Rd, Echunga

$1.65 million to $1.75 million

Agent: Williams Real Estate in conjunction with Hunt Lifestyle, Dee-Anne Hunt 0411 555 774. Land size: 4.47ha.

The post Vegies, fruit trees and solar power: Escape to the good life and enjoy plenty of room to grow appeared first on realestate.com.au.

Landmark for sale – 118 North Steyne, Manly.

When Manly’s last original beach cottage changed hands in 2018, there were more than a few wishful buyers left disappointed and sure that it would be many years before such a landmark would ever be offered for sale again.

Fast forward to 2020, and the world is a much different place.

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Grand Mosman estate offering a slice of history

Largely thanks to COVID-19, homeowners all over the country are re-evaluating where they live and how they live, and many are making some big changes.

That includes the owners of 118 North Steyne, the treasured c1906 beach cottage known as Brise De Mer, French for ’sea breeze’.

The owners, who moved from Mosman to Manly two years ago, have decided they want to spend more of the year living overseas to be closer to family, said Michael Clarke, of Clarke & Humel.

How’s that for a view and a location.

Sweet dreams.

He has been inundated with inquiries from potential buyers from all over the world. Even buyers in Singapore, London and New York are all considering the property, knowing they might potentially have to buy it sight unseen given strict international travel restrictions.

“People are thinking differently now,” Mr Clarke said. “Life is strange, and they are thinking, ‘if I’m not going to buy the house of my dreams then when’.

“This is a unique time to buy a unique property and I think this is it. For whoever buys it this time, it will likely be their forever home. It is a very special property.”

Spectacular sunrise.

Let the outside in.

The cottage has been painstakingly renovated and architecturally remastered to preserve its heritage-listed features, while also adding a new layer of luxury and sophistication that newly federated Australians could only have dreamt about in the early 1900s.

It has traded only a handful of times since it was built more than a century ago, and famously dodged the bulldozers when it was bought by a developer in 2002.

After years of debate by the community and the local council at the time, a heritage listing was granted in 2006.

Relax in style.

Formal dining.

The property was sold to another developer, who reached an agreement to restore the house on a portion of the original 910sqm site and allow for the construction of a new, low-rise, luxury five-apartment building at the back of the block.

Two years of intensive restoration followed and the property was sold in late 2009, before it sold again to the current owners in 2018.

The marble kitchen.

Style.

Mr Clarke said the property had been newly renovated with the latest designer finishes and was easily one Manly’s most treasured trophy homes.

Newly renovated again with the latest designer finishes

Set on a level 440sqm and surrounded by landscaped tropical gardens, the home has a wide central entrance hall with soaring patterned ceilings that lead to an open plan casual living and dining areas where you can see, smell and hear the ocean.

Timeless.

Who doesn’t love a marble bathroom?

Marble ocean-view terraces and a barbecue area are perfect for lazy summer days and the lounge room has a gas log fireplace and formal dining room for entertaining in style no matter what the season.

Other features include a large terrace with new retractable roof, marble kitchen with island bench and premium Miele appliances, whole-floor parent’s retreat opening to an ocean-view terrace, marble bathrooms, newly renovated basement games room/home theatre/office, new ducted airconditioning, and three Jetmaster gas fireplaces.

The view from the upstairs terrace.

Chill out in style.

Classic design is still a big feature of the home, including high patterned ceilings, leadlight windows and timber flooring.

There is an internal lift to the basement, C-bus smart system, plantation shutters,

CCTV security system with intercom and double garage with internal lift access to the home.

“This is a rare piece of history and it is unlikely another opportunity to buy it will come up for a long time,” Mr Clarke said.

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The post Manly’s last original beach cottage comes to market with a price guide of $9m to $9.9m appeared first on realestate.com.au.

Brisbane’s recession-proof suburbs have been revealed. Picture: Darren England.

BRISBANE’S recession-proof suburbs have been revealed, with some of the city’s most overlooked middle and outer areas poised to lead a housing market recovery in the wake of COVID-19.

Suburbs such as Macgregor, Mount Gravatt East and Moorooka could rebound faster from the present downturn than the traditionally bulletproof blue-chip suburbs.

Data provided by CoreLogic showed the performance of capital city and regional housing markets three years after the global financial crisis (GFC) and identified the suburbs that outperformed despite the economic shock.

This house at 153 Splendour Rd, Rochedale, is for sale. Rochedale home values rose 14 per cent post-GFC.

Property Investment Professionals of Australia chairman Peter Koulizos said the best-performing suburbs post-GFC in Brisbane were mostly located in outer suburbs.

Home values in Rochedale, 17km southeast of Brisbane’s CBD, rose more than 14 per cent in the three years between December 2008 and December 2011 — the best performing housing market in the city post-GFC.

The housing market in the neighbouring suburb of Macgregor was also resilient during the period, with home values rising more than 9 per cent at the end of 2011.

Interestingly, home values in the south Brisbane suburb are also tipped to recover strongly from the COVID crisis.

This house at 500 Mains Rd, Macgregor, is for sale. Home values in Macgregor rose 9 per cent post-GFC.

Alderley, 7km north of Brisbane’s CBD, was an exception to the outer suburb trend, recording a 9 per cent rise in median house prices during the downturn.

Mr Koulizos said the suburbs likely to recover fastest from the current downturn were likely to be middle-ring suburbs that offered more affordable property prices than their inner-city counterparts, but with a similar standard of facilities.

Those suburbs could include Kenmore, Macgregor, Moorooka, Mount Gravatt East and Stafford, he said.

This house at 70 Mornington St, Alderley, is for sale. Alderley home values rose 9 per cent post-GFC.

“Across Greater Brisbane, with the potential increase in people who work from home, the outer regions will also be on the radar of buyers and investors,” he said.

“This will partly be due to affordability considerations, but also lifestyle factors such as being closer to the water in the Redcliffe or Redlands regions or the chance to live on acreage in parts of Logan or Ipswich.

“The Gold and Sunshine coasts are also set to strengthen from local and interstate buyers who decide to prioritise lifestyle and opt to make a sea or tree-change sooner rather than later.”

This house at 6 Robinson Rd, Moorooka, has just gone under contract.

But Mr Koulizos said it was “impossible” to forecast exactly which suburbs would fare better than others post-pandemic.

“It’s vital to always consider the underlying fundamentals of a location when investing in property for the long-term, such as infrastructure and access to schools and amenities,” he said.

CoreLogic head of research Tim Lawless also believes suburbs within Brisbane’s middle and outer ring, at the lower end of the price spectrum, are likely to rebound the strongest after the pandemic — particularly those close to main arterial roads and train stations.

This house at 19 Shannan Plc, Kenmore, just sold for $1.9 million.

Mr Lawless said transport options in a suburb was often a driver of stronger capital gains.

“As a legacy of COVID, it may be the case that more people are seeking lower-density housing options,” Mr Lawless said.

“Many of the areas with a relatively affordable price tag are located further from the city where transport into the city centre may take some time, although commuting times may be less of a priority if there is lasting willingness from employers to allow staff to work remotely.”

This five-bedroom house at 90 Carrara St, Mt Gravatt East, is for sale. Mt Gravatt East has been tipped to bounce back from the current recession.

Mr Lawless said Queensland’s housing market recovery post-COVID would be slightly different to the GFC.

“After the GFC, interest rates were coming down from higher levels, but we can’t do that now, so we won’t see the stimulating factor of interest rates falling because they are already super low,” he said.

“The economy at the time was also benefiting from the mining boom. There was strong demand from China for resources and that had a substantial postive impact on regional Queensland in particular.

“Where the similarity is much more appropriate is that it was a time when there was a lot of stimulus in the market, particularly for first-home buyers, and that’s something we should expect going forward.”

CoreLogic head of research Tim Lawless.

Mr Lawless said it was likely more housing incentives would be announced in the upcoming federal budget, which would apply to newly constructed homes and first-home buyers.

“With that in mind, areas that will probably show a better performance coming in to next year are those popular with first-home buyers and those benefiting from people looking to build new properties,” he said.

The best Queensland regional performer in the wake of the GFC was Moranbah, which recorded a 33 per cent surge in home values between December 2008 and December 2011.

“Areas such as mining towns, where economic conditions are dependent on a single industry, are much more likely to experience bursts of price rises or falls because of the strength or weakness of their dominant industries,” Mr Lawless said.

“While many of these mining regions recorded spectacular capital gains post-GFC, a few years later many of these same regions recorded a crash in home values.”

FIVE BRISBANE SUBURBS SET TO LEAD THE RECOVERY POST COVID-19

Suburb Median home value

Kenmore $731,648

Macgregor $764,910

Moorooka $671,281

Mount Gravatt East $666,321

Stafford $643,843

(Source: PIPA/CoreLogic)

BRISBANE’S TOP 5 RECESSION-PROOF SUBURBS POST-GFC

Suburb % change in home values Dec 2008 to Dec 2011 Dec 2011 Median Value

Rochedale 14.1% $1,006,729

Macgregor 9.4% $521,145

Alderley 9.2% $528,021

Shorncliffe 8.8% $589,049

McDowall 8.5% $543,464

(Source: CoreLogic)

The post The QLD suburbs where house prices outperform in a downturn appeared first on realestate.com.au.

This house at 160 Eildon Road, Windsor has sold at auction for $850,000.

A family who pulled out of an off-the-plan property purchase when the developer would not deliver on contract commitments, have finally bought their first home in Australia, securing an inner northern house at auction for $850,000.

New owners Nicole and Neil Gavin (front) with the sellers Benn and Nikki Kennedy and their son Jack, 3, (middle), and Ken McFarlane (top) whose father had the house built in 1948.

Six registered bidders, including one on the phone from New South Wales, took part in the auction of the three-bedroom house on 543sq m at 160 Eildon Road, Windsor.

Among the onlookers was Ken McFarlane, whose father had the worker’s cottage built in 1948.

The house at 160 Eildon Rd, Windsor was sold by Matt Sale of Ray White West End.

“I’m kicking myself that I didn’t buy the house with my brothers and sisters as a share house,” he said.

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Ken McFarlane with pictures of the house his dad built in 1948.

Mr McFarlane sold the worker’s cottage in 2001 for $146,000 and a large rear deck was added before Benn Kennedy bought the house in 2006 for $320,000 and began a major renovation to the original home.

“I don’t recognise the place,” Mr McFarlane said.

“But I see the polished floorboards are back. We had them when I was a kid but in the 1960s carpets were all the rage. I moved out in 1975.”

A new kitchen was part of the most recent renovations.

Neil and Nicole Gavin, who currently rent in neighbouring Wilston, had been looking for their first home in Australia since putting their UK property on the market two years ago.After being released from a townhouse contract last month, they were about to make an offer on a Gordon Park property when they decided to inspect 160 Eildon Road, Windsor.

“The moment I walked in the door I knew this was the house,” Mrs Gavin said.

Outdoor areas were very important to the buyers of 160 Eildon Road, Windsor.

“I liked the deck and the fire pit. We live outdoors a lot and it just suits our lifestyle.”

At Saturday’s auction, Ray White auctioneer Mitch Peereboom accepted an opening bid of $600,000 for the three-bedroom house and four active bidders took part, raising the price by $50,000 each time.

Mr Gavin entered the auction at $700,000 and at $800,000 he was in front when the auction was paused for negotiations for more than 20 minutes.

“We had a plan, we had a top limit to our financial plan, and we said we wouldn’t break it and we did,” Mrs Gavin said. “Which is why there was such a delay because we were deciding if we could afford it.”

Mr Peereboom resumed the auction with an increased bid of $850,000 and the property was sold unchallenged.

The auction was one of almost 50 to go to auction across Brisbane on Saturday.

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12 Finlay Street, Battery Point. Picture: SUPPLIED

BEAUTIFULLY situated off Secheron Road and Clarke Avenue, with a garden that borders Hampden Road, the position of this Battery Point property is simply superb.

It is a mere stroll to AJ White Park, the Hobart waterfront and the bustle of Hampden Road’s restaurant precinct.

Known as The Stables, the property dates back to 1900.

It has been sensitively and cleverly converted from the original stables and a warehouse from a neighbouring property into to a lovely, contemporary abode.

The interiors and garden have been recently enhanced and renovated.

Location, location…

Sunny spot to sit.

Improvements include a stylish new bathroom and laundry/toilet that services the accommodation.

There are two double-size bedrooms with built-in joinery positioned on the upper level.

The master bedroom has a nice ambience courtesy of the soft light and river vistas from the gorgeous Juliet-style French doors.

A second bedroom is currently in use as a study. It has pretty views over the manicured, private rear garden towards Hampden Road.

A delightful, mature walnut tree adds perspective.

The property has fresh paintwork throughout, which complements the new blinds for window furnishings.

Perfect for a home cook.

Light-filled living.

The lighting upstairs and the quality appliances on the ground floor have also been upgraded.

There is underfloor heating in the bathroom and a reverse-cycle airconditioner ensures comfort all year round.

A paved terrace and beautiful French doors open to a superb living and dining space adjacent to the expansive kitchen with a dedicated pantry, modern appliances and plenty of cupboard and benchspace for meal preparation.

Gleaming timber floors reflect the natural light, which is further enhanced by accent skylights.

Additional security is provided by the electronic gate at the entrance.

There is room to park two vehicles off-street in tandem.

The Stables represents a wonderful opportunity to secure prime property in Battery Point, listed by realestate.com as in the top 10 most-searched suburbs nationally, such is the demand and desirability of this very special city fringe location.

Sophisticated style.

Top spot for a cuppa.

Salamanca Place and the Hobart CBD are within easy walking distance, with Sandy Bay also close by.

If you are familiar with the stunning historic streetscapes of Battery Point, you may have noticed this gem of a property, which is something of a landmark in the area.

Battery Point’s No.12 Finlay Street is listed with Harcourts Signature and priced at “Offers over $1.25 million”.

The post Classic Battery Point home with a modern twist appeared first on realestate.com.au.

Put the feet up and relax at 21 Nantes St, Newtown.

THERE’S a lot going on behind the facade at 21 Nantes Street.

And every single bit of it is pure luxury.

What was once a 1970s style single-level home has been turned into an exquisite inner city sanctuary that’s hit the market with price hopes of $3.46m-$3.66m.

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In fact, Whitford, Newtown agent Dale Whitford reckons living there would be like a permanent stay at a five to six-star hotel.

The facade at 21 Nantes St, Newtown.

“It’s a big house of superb quality and would be perfect for busy families,” Mr Whitford said.

“There’s lots of space to be together with the whole family, but separation is available.”

Mr Whitford said the 1037sq m land size and north-facing rear aspect was ticking boxes for potential buyers, so too the easy-care, low-maintenance aspect.

He also said the transformation was the work of builder Matt Wilson from Built By Wilson, who was also on the tools for 15 Nantes Street just up the road, that sold in June.

Inside the architect-designed residence is just as grand as you’d expect from a Hampton-style home.

This serene space promotes happiness.

Big rooms, big spaces.

Elegant light fittings and marble touches are on full display, along with flawless herringbone oak floors and plush carpets.

Case in point, the divine kitchen.

Mr Whitford described it as “full on” – and with a butler’s pantry the size of a regular kitchen, we can see why – it’s kitted out with an oven, dishwasher, gas cooktop, fridge and double sink.

Natural light for the win in this soothing space.

The marble island bench and splashback in the main kitchen is a showstopper, along with the 900mm freestanding oven and cooktop, a dishwasher and big built-in fridge.

Next stop, the peaceful home office just off the entry that would be a superb place to plonk yourself and escape the world with a wall of custom built-in cabinetry that’s a feast for the eyes.

The office space at 21 Nantes St, Newtown would be hard to leave.

With four living zones, there’ll be plenty of space to entertain with no chance of toe-treading.

The outside entertaining deck that links to granite paving and a cosy courtyard will leave others in the shade.

And, for added convenience, a beautiful separate studio with a kitchenette and toilet is here too, so guests have somewhere to sleep.

So.much.space.

The upper level is all about catching z’s, with the exquisite main bedroom encouraging rest and relaxation (and then some).

It has a slick his-and-hers walk-in wardrobe and a huge ensuite with a custom double vanity and large frameless shower.

Other luxe extras include heated towel rails, hydronic heating and ducted airconditioning, along with a drying cupboard in the laundry.

A double garage with rear and internal access and storage, and a cracking location close to schools, shops, public transport and the Barwon River ticks off a lifestyle most-wanted list.

The post Hamptons style is the order of the day at this Newtown address appeared first on realestate.com.au.

A firebombed terrace house sparked a bidding war in Sydney today, while the widow of a music industry legend said goodbye to their ‘Camelot’ when it sold for $7.2m.

Latest realestate.com.au auction data shows New South Wales has a clearance rate of 79% for the week to date, from 296 auction results, while Victoria’s preliminary clearance rate currently stands at 76% from 37 available results.

Here’s what happened in the auction capitals today.

This fire-bombed home in Glebe sparked a bidding war today. Picture: realestate.com.au

Sydney

A smoke-stained Glebe house that was randomly firebombed last year attracted 33 registered bidders at auction today, selling for an unexpected sum of $916,000.

The burnt house on Campbell St would require an estimated $100,000 in repairs, but this failed to deter keen buyers.

Selling agent Peter Natoli of Ray White Surry Hills listed the home with a price guide of $700,000 and said bidding was surprisingly competitive given the condition of the home.

In the east, the incredible Vaucluse home of music industry entrepreneur Pete Lusty – who passed away at 49 in March after a battle with cancer – sold at auction today for $7.2m, $200k above reserve.

One of the Vaucluse home’s striking features.

His widow, Georgia Day, made an emotional tribute comparing life at 31 Olola Ave to the 1967 romantic movie, Camelot.

The five-bedroom, four-bathroom ‘Olola House’ was set high on the hill overlooking a pond, pool and the grounds of Vaucluse House.

Four registered parties battled it out for the home, with the winning couple making their one and only bid of $7.2m.

Lusty, who was the co-founder of the independent music company Ivy League Records and management company Winterman & Goldstein, guided rock bands such as The Vines, Jet and Empire of the Sun.

Read here for more Saturday auction coverage from Sydney.

Melbourne

A charming four-bedroom house in Mount Waverley sold above reserve in one of Melbourne’s few auctions today, with six bidders vying for the prize.

Darryl Wickham of Ray White Glen Waverley said 8 Gilbert Court had 16 registered bidders and sold $1,057,000 – above the price guide of $950,000-$1,045,000.

8 Gilbert Court, Mount Waverley sold at auction today. Picture: realestate.com.au

“We were lucky with this one; it went online five days before [stage four] lockdown, which meant five days we could do inspections,” Mr Wickham said.

“It was meant to go to auction next week, but we decided to bring it forward to create enough competition with the buyers who’d seen it.”

In Geelong West, a rundown period house smashed its reserve in a ‘marathon’ online auction today.

The auction at 79 Isabella St, Geelong West, smashed its reserve price by $130,000.

Twelve potential buyers registered to bid for the 417sqm property at 79 Isabella St, held by the same family since the 1880s.

Richardson Newtown agent Matt Poustie took 178 bids — some as small as $100 — before selling the house to a Geelong buyer for $602,500 after a 45-minute battle.

The post Saturday auctions: Burnt house sparks bidding war, Sydney ‘Camelot’ sells appeared first on realestate.com.au.

Auctioneer Andrew Cooley at the sale of 42 Bulls Rd, Burraneer, which sold at a record auction price for the Shire.

A Burraneer home with a private sandy beach, jetty and cordoned off ocean swimming area set a new auction price record for the Sutherland Shire.

The four-bedroom house on Bulls Rd sold under the hammer for $7.1m on Saturday – $1.85m above the $5.25m reserve.

Ten buyers registered to bid with selling agents Norman Honer and Adrian Dodd of Honer Dodd Realty and more than 30 bids were placed.

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The price was a new record for a single dwelling property in the Shire and auctioneer Andrew Cooley said it was well deserved.

“It was a cracker auction,” he said. “These types of properties are rare and there was a lot of interest.”

The home has a private sandy beach and swim area.

The home was in original but good condition.

The price was largely due to the north aspect, water views, 1382 sqm block and the potential to add value, Mr Cooley said.

“The registered bidders were a mix of knockdown rebuilders and renovators,” he said. “It was in original, but good condition so you could live in it while you planned the reno.” It was the first time the property traded in 50 years.

The property has views across Gunnamatta Bay. The agents described it as “resort-style living” – there is a swimming pool, boat shed and multiple recreation “zones”.

The property has one of the best aspects on the Port Hacking waterway.

There were 10 registered bidders.

“Perfect for executive families, the home is securely set behind automated gates and includes a separate detached dwelling with parking that can be used as an office, home practice or fifth bedroom” the listing said.

Mr Cooley added the private sandy beach was one of a kind. “It’s so rare to get that … I’ve never seen a swimming area like that.”

The home was one of about 680 auctions held across Sydney this week.

The number of Sydney auctions has been trending higher over the past three months and auction volumes have been consistently above last year’s level since the last week of June, research group CoreLogic noted.

The post Sydney auctions: Burraneer house with private beach sells for $1.85m over reserve appeared first on realestate.com.au.