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No. 109 Albion St, Surry Hills, sold for $2.5m — $500k above its reserve.

A builder mum has paid $2.5m — $500k over reserve — for a Surry Hills renovator’s delight for her daughter to live in.

Laing and Simmons Double Bay principal Steven Zoellner said his investor client would have been happy to secure $1.8m for the rundown five-bedroom terrace on busy Albion St that they’d been renting out to students.

“But this was one of those auctions you only get every 10 years,” Zoellner said.

“Both myself and the owner were jumping for joy at the result … the house needed a major reno and it’s not the quietest street!”

The student digs attracted swarms of builders and renovators, who could see the potential beyond the peeling paint, rising damp and dated, very basic interiors. Part of the appeal was a four-car garage, which is rare in the inner-city.

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There was evidence of rising damp and peeling paint, both inside …

… and out.

At this week’s auction with auctioneer David Scholes, Zoellner had five register with four ultimately fighting it out from $1.75m, initially with $50k increments but then a series of $1000 bids.

“It went on forever — at least half an hour,” Zoellner said.

The mum, who works for a building company, plans to do the well-needed renovation before her daughter moves in.

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There’ll be no such work required at a Paddington home, which sold for a whopping $6.72m at last night’s auction.

Richardson & Wrench Double Bay’s Marion Badenoch and Veronika Turnbull were guiding $6m before the Wentworth Courier House of the Week at the start of the campaign but this rose to $6.6m as interest grew in 13 Stephen St.

No. 13 Stephen St, Paddington, is freestanding and extra wide at 12m across.

It has beautiful interiors.

It was called onto the market at $6.6m last night.

With auctioneer Jesse Davidson presiding, the bidding opened at $5.9m and initially rose in $50k increments, with then a series of $10,000 and $5000 offers.

It was also a long auction lasting about half an hour.

There’d been 104 people through the home during the campaign. “It was a great result,” said Badenoch.

“Wide freestanding homes in Paddington are rare … the space brought them here.

“There were five generous bedrooms and four bathrooms and people loved that you could enter the home on the middle floor.”

Although the home attracted a lot of interest from Paddington families, the eventual buyers came through with a buyer’s agent and they were from outside the area.

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Grand estate – 19 Prince Albert Rd, Mosman.

One of Mosman’s largest grand estates is set to come to market next week with a guide of $17 million to $18 million.

The 2770sqm property at 19 Prince Albert St, has been privately owned for about 50 years.

Built by Sydney Holland Cabban and William Henry Smith, otherwise known as Smith and Cabban, about 1905, the property known as Ardagh, will have a private VIP showing tonight ahead of its launch next week.

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Richard Simeon, of Simeon Partners, said Ardagh was one of the most significant properties to come to market in Mosman in years.

“It is one of the biggest estates in Mosman and has a rich history,” he said.

“The house itself has about 20 rooms and there is also a coach house on two levels. It’s a wonderful property.”

With spectacular views across Sydney Harbour, parklike gardens and a 40m dual street frontage, this property is perfect for family living on a grand scale.

The impressive three-level floorplan of more than 1000sqm internal includes self-contained

accommodation and the separate two-storey coach house.

19 Prince Albert St, Mosman.

An aerial view.

Every home should have a conservatory like this.

But the architecture isn’t the only aspect of the property that has a rich history.

Current owners Gary and Mary Smoker have held the property since 1994. Prior to the pharmacists lived at 9 Prince Albert St for some 22 years.

The parents’ retreat off the main bedroom.

Sweet dreams.

The upper level of the coach house.

Mrs Smoker said they had always loved No. 19, and over the years had got to know the owner, Reginald “John” Champ, a musician and ABC presenter of classical music.

Mr Champ died in 1993, and the Smokers discovered that he had decreed in his will that they be offered the first option to buy the property.

“We were shocked, but we had always loved the property,” Mrs Smoker said.

Grand spaces.

Multiple living areas.

The casual dining room.

They took the opportunity with both hands and set about major renovations. It was the home where they have watched their three children grow up.

They have held countless functions at the home, from 18th and 21st birthday celebrations, their daughter’s wedding and numerous festive season gatherings.

“I have always loved looking out at the Harbour Bridge and New Year’s Eve has always been special,” Mrs Smoker said.

The view.

Formal dining.

The cellar.

But the time has come for them to downsize and they are ready to pass the property on, she said.

“It’s just time to let somebody else enjoy it, the size of it, the swimming pool and the tennis court and the beautiful grounds,” she said.

“It has been a wonderful home and I hope another family gets to experience the same joy.”

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The post One of Mosman’s largest estate coming to market next week with $17m-$18m price guide appeared first on realestate.com.au.

This home on Campbell St in Glebe was firebombed last year.

A housing commission property in Glebe set ablaze during a night of random arson attacks has been attracting a spate of homebuyer inquiries.

The one-bedroom terrace on Campbell St was one of five properties torched in a series of deliberately lit fires in October last year and will go under the hammer this weekend.

It is expected to sell for over $700,000.

Much of the uninhabitable home has extensive smoke and fire damage and builders have estimated it would cost at least $100,000 to bring the home up to a liveable standard.

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The fire was understood have been started on the front porch, with smoke spreading into the rest of the house.

No casualties were reported from the attack but then resident Kevin Isdahl told reporters he was lucky to be alive.

The Campbell St terrace on fire in 2019. Picture: Bill Hearne

The home is now uninhabitable.

“There were big fires at the front of the house. Then this black smoke just hit me. I had black soot all over me and I ran out the back of my place,” he said after the incident.

“The ambulance took me to hospital because I had a lot of black smoke in my lung and this bad burn.”

Selling agent Peter Natoli of Ray White-Glebe will take the home to auction with a guide of $700,000 and said buyer inquiries were from a mix of builders and investors.

“Judging by the inquiries it could be a strong auction but we will see,” Mr Natoli said.

The home was one of five properties attacked in a single night.

“A lot of builders have told me the home is not as bad as it looks, it’s mostly smoke damage and the fire (damage) is mostly at the front of the house.”

Many of the keen buyers were attracted to the “potential”, Mr Natoli added.

“These types of homes tend to attract a lot of attention, partly because of the condition but also because of what you can do.”

Police reported at the time of the fire that it was one of five attacks they were investigating in the area.

Most of the damage was reported to be at the front of the home.

A nearby property at Derwent St was torched, with the flames spreading to a nearby garage.

Police also discovered a car burnt out on Westmoreland St.

Fire-damaged homes in Sydney’s popular inner west have often attracted bumper prices when going under the hammer.

Earlier this month, a burnt down Enfield house sold for $1.38m – almost $500,000 over reserve – despite lacking a roof.

The property on The Parade had been used as an alleged drug lab before going up in flames four years ago.

It was reported the two-level home had previously been used to grow marijuana but it was not known how the fire was started. Police called to the scene had identified it as “suspicious”, according to 2016 media reports.

The burnt down home on The Parade in Enfield sold for nearly $500,000 over reserve.

With 23 buyers registered to bid for the home on a 638sqm block, the price was marginally higher than the $1.32 million median price of houses in Enfield, according to realestate.com.au data.

The post Inner west house torched in arson attack set for bumper auction despite being uninhabitable appeared first on realestate.com.au.

If you thought last year’s season of The Block was hard going – wait till you see what’s being thrown at this year’s group of intrepid Blockheads.

Not only do this year’s contestants have to contend with the advent of coronavirus, which shut down production for the show for six weeks in March, they were also thrown the added challenge of having to renovate each of their homes to a very specific era.

The Block 2020 will see homes from different periods being renovated. Picture: Channel Nine

“We have got five different eras of home this year – the tens, twenties, thirties, forties, fifties,” said host Scott Cam of the five existing homes that were craned into position on the New Street Brighton site for this teams to work on.

“Each contestant has got to put a nod to that era in their front part of the house, in the first three or four rooms.”

Read more: Scott Cam on why you can’t keep a Blockhead down

As Cam explains, this proved tricky for some.

“It’s very difficult for them to work out how they are going to do that and still have a modern, 2020 version of, say, a bathroom or a bedroom, with a nod to the 1910s, ’20s or ’30s,” he explained. “They [are being ]judged on that, and that really brings a few of them unstuck in the early days.”

Read more: The Block 2020 – Meet the contestants 

Judge Neale Whitaker, who endeavours to judge each room on its own merits, taking into consideration functionality, finish and presentation, appropriateness for price-point and emotional connection, admits that adding these constraints in the early weeks put extra stress on the contestants, who needed to be conscious of their rooms gave a “nod” to the era, without feeling too much like a museum piece.

Neale Whittaker says this year’s challenge isn’t for the faint hearted. Picture: Channel Nine

“Even if we didn’t have a global pandemic on our shoulders at the moment, and if we hadn’t had that five-week hiatus in the middle, it would still have been a remarkable season, I think, because of the sheer size of the task the contestants had to take on,” he said.

“Nobody wants to live in a museum so I think [it was about] finding the defining characteristics of each era, and working out how to adapt them to create a modern home.”

House four will need to have renovations that fit with the era of the home. Picture: Channel Nine

Do they succeed? You’ll have to watch. But Whitaker says to expect some truly remarkable transformations over the course of the season.

“There was a real sense of individuality this year,” he says. “And I think it’s all credit to the contestants that they have created five homes that are so individual and are so different, yet somehow sit harmoniously alongside each other.”

The Blockheads have their work cut out for them in 2020. Picture: Channel Nine

The Block premieres this Sunday August 23, at 7pm on NINE and NineNow

The post The Block 2020’s biggest challenge for contestants…and it’s not COVID-19 appeared first on realestate.com.au.

Victoria’s evictions moratorium has been extended until the end of 2020. Source: iStock

Victorian tenants will “breathe a sigh of collective relief” now the state’s moratorium on evictions and rent hikes for those struggling through COVID-19 has been extended until the end of the year.

Treasurer Tim Pallas announced on Thursday that the bans would continue to apply for both residential and commercial tenants until December 31, well beyond the initial September 29 expiry date, with exceptions only “in rare and specific circumstances”.

Mr Pallas said further land tax relief and grant funding would be made available for residential and commercial landlords who supported struggling tenants amid Victoria’s second wave of COVID-19.

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Victorian Treasurer Tim Pallas announced the extension, along with a continued freeze on rent rises until December 31. Picture: AAP/James Ross

Landlords who provided “outright rent waivers” of at least 50 per cent for at least three months would now be eligible for an additional 25 per cent land tax relief, he said.

And a $60m fund would also be established to gift eligible small commercial landlords up to $3000 per tenancy.

“Nobody should be worried about losing a roof over their head right now, particularly given the circumstances around social distancing,” Mr Pallas said.

“This is about (ensuring) those who depend upon tenancy arrangements for their shelter, their homes, are provided with adequate safeguards.

“It’s also about making sure we … provide support and assistance to landlords who do the right thing by their tenants.”

Mr Pallas said the government was also encouraging banks to “continue to do the right

thing by their customers”, and investing about $600,000 to support tenancy advocacy groups like the Victorian Council of Social Service, and Tenants Victoria.

Tenants Victoria chief executive Jennifer Beveridge said the state’s renters could now “breathe a sigh of collective relief” that they would continue to be protected from evictions if they fell behind on rent.

“If there is need for a further extension, we are confident the government will respond,” Ms Beveridge said.

The peak body for renters previously called for the moratorium to be extended to the end of March.

The government first confirmed the moratorium in April. At the same time, it unveiled a $500m package to support both tenants and landlords, which also included $420m of land tax relief for landlords who discounted rents for tenants in pandemic-related hardship, plus $80m in assistance for tenants who remained in rental stress even after discounting.

Mr Pallas said on Thursday he expected to see land tax relief claims “in excess of $100m”.

He added almost 26,000 agreements for rent reductions had been registered with Consumer Affairs Victoria in the past four months.

The Victorian Small Business Commission had also assisted with about 8000 rent-related inquiries.

Despite losing her hospitality job, Courtney Windross is still managing to afford her rent, thanks to her partner’s continued employment and JobKeeper. Picture: Alex Coppel

Mr Pallas also clarified commercial landlords would now be required to provide rent relief “in proportion with falls in turnover”.

“If you’re identifying a downturn in your capacity, your turnover, then you should have an expectation that is similarly reflected in terms of the rent relief that you get,” he said.

Real Estate Institute of Victoria president Leah Calnan said a $1000 increase in the rent relief grant to $3000 was welcome news for landlords.

Further land tax concessions for impacted landlords would also help many who had been struggling amid rent reduction agreement.

“We’re still seeking clarity from government about how this change will affect pending (residential tenancy) cases in (the Victorian Civil and Administrative Tribunal), including where orders have already been issued in VCAT,” Ms Calnan said.

“We’ve also strongly advocated for the Residential Tenancies Act amendments to be postponed to July 2021 as we still haven’t seen any regulation around them.”

The 130 rent reforms have been delayed until January 1.

Premier Daniel Andrews said the protections were “important” for “both families and individuals who are renting, but also businesses who’ve got commercial arrangements and who, through no fault of their own, have got turnover that is a fraction of what it was this time last year”.

After the moratorium was initially announced, the government clarified evictions were only permitted if a tenant is engaging in threatening behaviour or maliciously damaging a property, or if a landlord is selling the home or they or their family need to move into it.

-with Jayitri Smiles, Jack Boronovskis

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samantha.landy@news.com.au

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No. 42 Endeavour St in Red Hill is up for sale.

If jaw-dropping splendour is what you’re after, your search might grind to a halt at this Red Hill manor.

With a subterranean-styled drink station, custom-made cellar, private jacuzzi and acoustically-designed home cinema, this sensational two-storey home has to be seen to be believed.

Designed by highly regarded Canberra architect Paul Tilse, 42 Endeavour Road marries functionality with high-end appeal in a versatile floorplan that includes a raft of top end inclusions, all on a 1369sqm landholding.

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The cinema room.

The custom-made cellar.

Selling agent Dario Beltrami, from Blackshaw – Manuka, said there seemed no end to indulgence in this home.

“It’s got a cracker of a cinema room that would kick Dendy’s backside. It’s got an industrial feel and look downstairs, it’s all wired for sound, it’s got more screens than I could poke a stick at, electric gates, electric blinds. It’s a really, really lovely home,” Mr Beltrami said.

Open plan spaces perfect for the whole family.

“It’s been referred to as a great entertainer’s house. Downstairs the windows all open up, there’s an indoor-outdoor kitchen. It’s a big block, heaps of park space, a pool, grass space and parking space. It’s got it all.”

Entertain in style.

Luxe living.

Sophisticated features of the five-bedroom, four-bathroom smart home in Red Hill include remote touchscreen multi-room audio and distributed video, and Sonos speaker system fitted internally and externally.

There is also a heated swimming pool, circular driveway and secure perimeter fencing, as well as a bit of creative flair with recycled newspaper printed wallpaper in the stairwell.

The alfresco area includes a functional vergola, built-in barbecue and fridge.

Mr Beltrami is seeking offers over $2.5 million.

The post Red Hill home with subterranean-styled bar and cinema up for sale appeared first on realestate.com.au.

More than half of Australians are looking for help with their real estate goals.

According to a survey conducted by leading mortgage broker Aussie, 54 per cent of us want guidance with property and finance.

In a further indication of the uncertainty resulting from COVID-19, 42 per cent of the 1000 people questioned in Aussies’ survey, Uncertainty around COVID-19, want to take advantage of the current conditions of the real estate market but don’t know how to.

More than half of Australians are uncertain what to do about their property intentions. Picture: Aaron Francis/The Australian

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The survey underlines the intense interest in the property market despite the coronavirus pandemic.

Aussie Chief Customer Officer, David Smith says the result is missed opportunities and unrealised goals for potential home buyers.

“In a market which sees property prices across Australia’s capital cities continuing to fall, interest rates remaining the lowest on record, a range of refinancing options, access to lender cashback incentives, and a range of government initiatives and grants available, there are many opportunities for both first home buyers and homeowners to secure their goals,” he said.

That home hunters are looking for expert advice is illustrated by the fact that 36 per cent of those surveyed, said they were “more receptive to speaking to a broker about their property plans because of COVID-19”.

A good time to buy – David Smith, Aussie chief customer officer says.

On the ground, sales agents and buyers agents say property seekers have more questions about the property market and what is going on, than they ever have.

The research again highlighted the spotlight COVID-19 has put on our home situation and our re-imagining of what we want.

More than one in five (22 per cent) of those surveyed said their property goal is more important now than before COVID-19 restrictions and more than one in four (26 per cent) said their housing plans had accelerated because of COVID-19.

In order to gain more confidence as a home buyer, property expert Andrew Winter, co-host of Love It or List It Australia and Selling Houses Australia on Foxtel’s LifeStyle channel suggests starting at your lender to get the big picture of what you can and can’t afford before you start looking.

He then suggests you spend at least six weeks familiarising yourself with the market and ensuring you have a strategic approach before making your move.

Winter also says buyers are better off avoiding ‘off-market’ purchases and that commissioning a buyer’s agent is an avenue worth exploring.

COVID changing our financial habits

It’s not surprising then that a Finder survey has discovered 63 per cent of Aussies, around 12 million of us, have changed their financial habits since COVID-19 hit Australia in mid-March.

Graham Cooke, insights manager at Finder said homeowners could be looking at new ways to increase their income.

Steel yourself for the road ahead. Picture: Aaron Francis/The Australian

“With such an unpredictable future ahead you should be doing all you can to shore up your finances now to avoid running into trouble later on,” he said.

“Property owners with a spare room or a studio out the back should consider renting it out to make some extra money to put towards their mortgage.

“For shorter term rentals you could consider putting your place up on Airbnb. While travel between states is off the cards for the foreseeable future there are a number of Aussies itching to travel within their own state.”

Auction continue to perform well

Australia’s real estate market as a whole continues to perform well despite the COVID-19 pandemic.

According to CoreLogic in Sydney this week there are 679 auctions scheduled. This is up on last week’s 668 and well up on the 503 this time last year.

Plenty of buyers are in the market for a new home but don’t know how to turn their dreams into reality.

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Despite level four lockdown restrictions, there are 235 auctions planned for Melbourne this week, an increase on the 191 that went under the hammer last week.

Across the smaller cities, CoreLogic says there are set to be more auctions held this week than last week with the exception of Hobart.

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THE state border is closed but it’s not deterring interstate buyers with a Melbourne family splashing almost $4 million on a trophy penthouse on the Gold Coast.

A $3.95 million contract for the two-level trophy penthouse in the Oracle building at Broadbeach went unconditional on Thursday.

24001/21 Elizabeth Ave, Broadbeach has sold to a Melbourne buyer.

The rooftop pool.

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The sale went ahead despite the buyers not even stepping foot inside the residence – all the inspections were done via Facetime.

“This is now the fifth luxury property deal I have done in the past four to six weeks via Facetime,” said marketing agent Tolemy Stevens, of Harcourts Coastal.

“Even though the buyer had multiple Facetime inspections with me and had a personal friend inspect the property for them, the purchasers have not stepped foot into the penthouse.

“It’s a continuing testament that shows how strong the appetite from Sydney and Melbourne buyers is to secure luxury homes on the Gold Coast.”

Soak up the view.

Enjoy a bird’s eye view of the Gold Coast.

The penthouse takes up the entire northern side of levels 40 and 41 in the Oracle Tower 2.

“The new owner plans to do a few minor renovations to the property so by the time the borders open it’s ready to go,” he said.

It is the first time the property has been on the market since it was built 10 years ago.

“The Oracle is one of the most sought-after and well-known luxury apartment buildings on the Gold Coast,” Mr Stevens said.

“This penthouse is extremely sought-after not only due to its size and views but due to its location being in the middle of everything – the trendy shops, cafes and restaurants in Broadbeach.”

The penthouse features high-end interiors throughout.

The property, first put on the market in December, 2019, has its own private lift, a rooftop heated pool, home cinema area, wraparound balconies and floor to ceiling windows.

Property records reveal the overseas-based sellers paid $3.9 million for the residence in 2008.

Mr Stevens said the Gold Coast was fast becoming a “beacon of hope and safety” for interstate buyers.

“People seem to just want to get out of Sydney and Melbourne ASAP and people are seeing the Gold Coast as a safe place to permanently live or have a holiday home with its open space, the sun, beach, sand and lifestyle,” Mr Stevens said.

“This unfortunate pandemic has put a light on how good the Gold Coast really is.”

Luxury at every turn

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First-home buyers have fallen from 60 per cent of the land market to 50 per cent.

Melbourne’s stage four lockdown has put the brakes on first-home buyers at housing estates within the space of two weeks.

Despite many continuing to work and purchase during earlier lockdowns, they have taken a “step back” from buying house and land packages this month, new data shows.

The figures from Oliver Hume show a three-month surge in first-home buyers, going from about half of the market for housing estate sales in the first four months of 2020 to about 60 per cent in May, June and July.

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However, preliminary figures for the first two weeks of August show they have dropped back to half the market again.

Oliver Hume national head of research George Bougias said while the $25,000 HomeBuilder grants had stimulated a lot of activity in June and July, younger buyers now appeared more reluctant to make property moves.

“A number have worked through COVID-19, and the first-home buyers came back strongly in June and July,” Mr Bougias said.

“But this lockdown has put everything on pause. First-home buyers took a step back in the first weeks of August, though that is just from the first 10 days.”

First-home buyers have retreated from new estates since stage four lockdown hit Melbourne.

Despite the subsequent reduction in activity, the initial 10 per cent uptick in response to HomeBuilder and rumours of government stimulus during May was important, Mr Bougias said.

“That’s a big rebound,” he said.

“It’s obvious there’s been an impact, it’s very rare to see such a swing.”

Blueways Group development director Andrew Wyatt said inquiry quadrupled at their Melbourne estates following the announcement of HomeBuilder.

While it still remained at double normal levels, less were proceeding to a purchase.

Mr Wyatt said since the stage four lockdown, developers had begun more proactive searches for prospective buyers, including reconnecting those who pulled back from a purchase last year, in hope additional federal money would bring them back into the market.

Blueways Group are behind the Pavilion estate in Melbourne’s southeast.

TJ White’s Finance Services lending manager Matthew White said the correlation between the $25,000 grants being announced and demand from homebuyers had been “uncanny”.

“First-home buyers, if their income isn’t affected, are happy to get involved,” Mr White said.

Despite this, 90 per cent of those contacting his firm at the moment were refinancing, with only those who had already been in the process of buying a home continuing to seek new housing finance at the moment.

Banks had also implemented more stringent checks to confirm prospective borrowers were working as they were pre-lockdown and not just being paid JobKeeper to remain on standby.

“If the cafe you work for is shut down, regardless of whether you are being paid, then you have been affected and that will affect some loan applications,” Mr White said.

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