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Upcycled Ventnor dream home has wagon wheel chandeliers

Recycled materials have brought new life to this commanding Ventnor home.

The U-shaped five-bedroom house at 79 Graydens Road is on the market for $1.2m.

Exposed truss ceilings were custom built on site using ironbark from Melbourne’s Central Pier at the house, which also features vintage wagon wheels for chandeliers.

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The Ventnor home has a U shape.

Featuring wagon wheel chandeliers in the open-plan kitchen and dining space.

Let there be light.

Ray White Phillip Island agent Bec Anderson labelled the site “an incredible home”.

“This would be the perfect place for those looking to escape the inner city and enjoy the tranquillity of this location,” Ms Anderson said.

The tradie owner built the home with a focus on recycled materials and blend of rustic charm and modern convenience.

The Ventnor property has fantastic sunset views.

Granite benches and original splashbacks in the kitchen.

Seamless indoor-outdoor flow.

The truss ceiling beams incorporate clerestory windows for more light.

Hydronic underfloor heating suits the huge entertaining space.

A bold tallowwood bedhead in the main bedroom was created with timber from a Queensland bridge, while other earthy materials used include limestone, bloodwood and bluestone.

“The home has been constructed using an impressive selection of timbers and stone, creating an earthy and rustic vibe,” Ms Anderson said. “It has great potential for those with an interest in permaculture and self sufficiency.”

Backyard cricket in the epic courtyard?

A tallowwood bedhead in the main bedroom.

Rustic modern charm.

The 2527sq m block also features a huge garage, converted shipping container, fruit trees and a veggie patch.

Ms Anderson added there had been an influx of buyers from Melbourne looking at relocating to Phillip Island in the last few months.

Ventnor’s median house price to July was $530,100, up 27.7 per cent over the last three years, according to realestate.com.au data.

The triple garage has oodles of space.

Featuring ample room for jamming.

Dusk delight.

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jack.boronovskis@news.com.au

@jackboronovskis

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Brisbane developer reassures buyers after builder goes bust

London Residences

Jamie and Julie Gillespie with children Madeline 8 and John 7 who have bought an apartment at London Residences, West End. Photo: Peter Wallis

The builder went belly up in May but with most of the residences in this boutique inner-city apartment complex already sold to local families, the developer is determined to have their homes ready before Christmas.

London Residences – artist’s impression.

Ninety per cent of the subcontractors who had been working on the London Residences at West End were rehired by Ferro Property Group director Marco Ferro who has continued the build after a five week transition.

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This home will have you climbing the walls

“Bulkbuild went into administration, but because we are builders ourselves and project managers, we turned around things very quickly and got Rodrigues Constructions involved,” Marco Ferro said.

“Basically it would take most people about six months to recover from that but this is not our first project, we’ve been building since the 1960s, we know how it’s done.”

Mr Ferro is also determined to honour the legacy of his late brother and company founder Frank Ferro who passed away in May this year after architecturally designing the London Residences in West End.

Frank Ferro.

“This is the last design that Frank Ferro did personally,” Marco Ferro said.

“We are going to make sure this thing absolutely sings. I’m very attached to this building.”

London Residences – the rooftop terrace.

Currently 20 of the 24 apartments in London Residences have sold to owner occupiers who will be enjoying all the luxuries of a spacious family home with the convenience of inner-city living including Jamie and Julie Gillespie who bought their first level apartment at London Residences off the plan over a year ago and have been watching the build from their nearby apartment on Cordelia Street.

London Residences

The Gillespie family take a look at the site where their new home is being built. Photo: Peter Wallis

When the builder went into voluntary administration in May, it was the open communication between the developer and buyers that helped them remain confident that the project would be completed.

“They’ve been really great about keeping in touch and have been clear and direct with their communication,” Mrs Gillespie said.

“They explained what had happened and they just moved on with it. It makes such a difference when everything is transparent.”

London Residences – the kitchen layout.

This is the third off-the-plan purchase for the Gillespies who have had property in Sydney and on the Gold Coast.

“Buying off the plan is both wonderful and frustrating at the same time,” she said.

“In Sydney the developer didn’t talk to anyone and we bought on the Gold Coast during the boom times and they didn’t care, they were just churning through.”

“With Ferro (Property) Group, we were impressed even in the way they presented images and plans to you, and measurements on a plan. If putting a bedroom in, they showed it to scale, they didn’t make a room feel bigger.”

Mrs Gillespie, a mental wellbeing consultant, will turn her downstairs storage room into a home office while the apartment has been customised to suit their needs.

“It was just the small things that make life easier, like a nicely laid out wardrobe,” she said.

“They redid the walk-in wardrobe and took the draws out so it’s just hanging space. I have a very tall husband so the extra few centimetres for pants to hang will come in handy.”

The family of four expect to move into their four-bedroom apartment as early as November.

London Residences – large living areas.

The complex will feature apartments with between three to six bedrooms, including three super residences of 350sq m floor space with four-car garages.

“Interestingly we started with 27 residences but we combined apartments for three different owners who wanted two apartments each,” Mr Ferro said.

London Residences – two-level apartments.

The complex has a rooftop terrace with a pool, steam room, day beds, gymnasium, butler’s kitchen and outdoor cinema.

Level two is a dedicated storage level with commercial carpet, power and windows.

“That’s one of our most unique features, the second level. There’s even a powder room there. You can store you winter clothes or doonas,” he said.

“We have doctors, lawyers, empty nesters, and what we find in our buildings is people become very house proud and all are saying the same thing that they want to be here for the next 10-20 years.”

London Residences – ground level renders.

Ferro Property Group moved from building for investors to the owner occupier market five years ago after identifying a need for more personalised house sized apartments in smaller boutique developments.

Other boutique developments in their collection include Edgebrook and Brookwood Residences at Lutwyche in Brisbane’s inner north.

London Residences is not the only development that has recovered after being hit by build setbacks during COVID-19.

Silk One in Woolloongabba, a Sarazin and SouthLake Group residential development, was also on the verge of collapse but a spate of sales to first-time buyers using the recent HomeBuilders grant, has meant construction can continue, with spades in the ground last week.

IN BRIEF

London Residences

10 Bailey St, West End

Developer: Ferro Property Group

Architect: Ferro Arch

Price: Three-bedroom apartments with 153sq m of floor space, a two-car garage and storage space start at $985,000.

Completion date: November, 2020

Details:
ferrogroup.com.au

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Regional interest ramps up: Geelong, Bellarine house hunters top picks

Case study: COVID-19 leads to Melbourne exodus, Geelong at the top of the list

Valentino, Eric and puppy Pepper recently moved from Melbourne into their new home in Torquay’s Quay 2 estate. Picture: Peter Ristevski

The COVID-19 pandemic has extended many Melburnians’ search parameters to include the coast or country, and new data shows Geelong and the Bellarine Peninsula are where they are searching.

The realestate.com.au data reflects a 58 per cent increase in demand for regional Victorian properties in the past year — nearly four times the growth of metro demand.

Inquiries on regional listings also jumped 77 per cent in that period.

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Jan Juc is Victoria’s most popular regional area.10 Camrose Court is on the market with a $3.3-$3.5m price guide.

Suburbs in Geelong and areas extending down the Great Ocean Road dominated Victoria’s top 10 most in-demand regional areas — a result chief economist Nerida Conisbee said was no surprise.

“Regional Victoria has been doing well for a long time,” she said. “In the past three years, the region that has had the strongest price growth (nationally) is Hobart, followed by Geelong. “There has been a renaissance in Geelong — young people have moved in, done up houses, and so there has been urban renewal in those areas.”

Jan Juc was most popular for those searching for new digs, followed by East Geelong, Aireys Inlet, Bellbrae and Geelong West.

Ms Conisbee said the spike in regional interest was in part thanks to COVID-19 and a societal shift towards living a more relaxed lifestyle.

Working from home and as such, having less of a need to live close to the city, was another big factor.

“People will return to the office. But there will be a difference in how often, and that does extend the opportunity to live in regional areas,” she said.

24 Meakin Street, in popular East Geelong, is for sale with a $1.2-$1.3m price tag.

Whitford Newtown director Dale Whitford said once stage four restrictions ease in metro Melbourne there would be plenty of city slickers flocking to the coast.

“There will be an amazing amount of traffic on the road to Geelong,” he said.

“In June and July, before stage four in Melbourne, it (the market) was flying. Us and our competitors all had the best June and July ever.

“People after the first lockdown re-evaluated life, working from home became a reality not a just a dream, and they didn’t want to to be in Melbourne as it’s densely populated.”

Mr Whitford said there had been pent-up demand for property in Geelong and surrounds for the past 10 years, but it had become “more exaggerated” since COVID-19 hit.

“You’re never far away from anything in Geelong,” he said.

“It has good infrastructure, the waterfront, the Great Ocean Road and Bellarine Peninsula.

“We are blessed with schools, medically we are blessed, too, and our prices are a lot cheaper than in Melbourne – it’s a compelling story.”

Intrapac Property townhouses in Torquay’s Quay 2 estate have been popular with Melbourne-base buyers.

Intrapac Property chief operating officer Max Shifman said metro Melbourne’s stage four restrictions had pushed even more people to look at “(getting) out of the big smoke”.

Inquiries for Intrapac’s Quay 2 development in Torquay are at peak levels. And since the strict lockdown laws came into place, Melbourne buyers had outweighed local inquiries, Mr Shifman said.

Case study: COVID-19 leads to Melbourne exodus, Geelong at the top of the list

Working from home during COVID-19 allowed Valentino and Eric to move to Torquay. Picture: Peter Ristevski

Eric, 27, and Valentino, 38, recently purchased their first home: a two-bedroom townhouse in the Quay 2 estate.

The couple had planned to use the property as an investment while continuing to rent a one-bedroom Melbourne apartment to be close to their jobs in the city. But instead, they moved in two months ago due to COVID-19.

“We got the indication working from home could be long term, so we took the leap of faith and moved in,” Eric, who declined to provide his surname, said. “The next question is, do we move back to Melbourne (post coronavirus)? Ideally, we would love to stay.”

Eric said the “silver lining” of COVID-19 had been the chance to move regionally, be close to the ocean, and have enough of space to work at home and adopt their puppy, Pepper.

He encouraged other buyers who enjoyed a quieter, more laid-back lifestyle to consider a regional move.

VICTORIA’S TOP 10 MOST IN-DEMAND REGIONAL AREAS

1. Jan Juc

2. East Geelong

3. Aireys Inlet

4. Bellbrae

5. Geelong West

6. Newcomb

7. Belmont

8. Manifold Heights

9. Newtown

10. Wallington

Source: realestate.com.au

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On The QT Gossip: Canadian group Brookfield seems to ditch plans for Labrador tower

CANADIAN group Brookfield appears to have aborted plans for a 16-level retirement high-rise at Labrador, with the site quietly on the market.

The 2016sqm holding, which fronts Frank and Robert streets, was bought by the Aveo group for $4.95 million in 2017 and a tower approved a year later.

QLD_GCB_NEWS_COMMGAMESVENUES_23JUNE14

The tower was planned for Labrador. Pics Adam Head

Brookfield, when it snared Aveo last year, ‘inherited’ the land, along with a Currumbin Valley farm which it sold in April at a $60 million loss.

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MALCOLM Watkins, a founding director of finance and mortgage broking group AFG, and a partner are being mooted as the buyers of giant Broadbeach Waters riverfront home Villa Cantarocco.

The 1300sqm Villa Cantarocco.

A $12.5 million deal was revealed two weeks ago on the 1970s mansion, which sits on some 3300sqm of land.

The Toorak-dwelling Malcolm helped found AFG in Perth in 1994 and the group listed on the ASX five years ago.

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‘NEW’ $5.2M HOLIDAY HOME IN MAIN BEACH

MARGARET Douglas, of Optical Superstore chain fame and who opened a few eyes when she paid $5.2 million for a Main Beach house last year, is stepping up efforts to sell her former holiday home next door.

Hughes Ave, Main Beach.

Margaret, who first marketed the Hughes Ave property nine months ago, is taking the auction path next week.

Her ‘new’ $5.2 million holiday home spans two lots and was bought from realtor Bruce Wilson, who sells the suburb as ‘magnificent Main Beach’.

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Inner Sydney unit prices are getting slashed as investor owners try to speed up sales

Homebuyers who got discount

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.”

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The Block 2020 episode 4 recap: Shaynna blasts WA couple for ignoring the brief

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

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

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

Sarah and George's guest bedroom study

…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.

Harry and Tash's guest bedroom

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

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's winning guest bedroom. STRICTLY EMBARGOED UNTIL 9PM SUNDAY AUG 30

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

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The French Quarter: Maldon converted stables a French provincial statement in class

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

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Time warp home from 1840 hoisted into modern era with $1.49m sale

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.

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Most competitive suburbs for buyers: the Sydney areas where houses with backyards are in short supply

Dee Why home sellers

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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Nervous home sellers get extra $100k

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.

Supplied Editorial =?UTF-8?Q?Eliza_Owen_=E2=80=93_CoreLogic_Head_of_Commercial_Research?=

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.

Dee Why home sellers

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.