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Auctioneer Stu Benson at a Kenthurst property that sold for $620,000 over reserve.

You’d think it would be an extreme buyer’s market but Sydney home sellers netted some surprisingly high results at auction this week given the current economic climate.

Housing experts said the sales were a warning that a so-called “September cliff” characterised by a crash in prices was looking increasingly unlikely.

There were close to 780 auctions scheduled for the week, roughly a quarter more than last week and 32 per cent more than over the same week last year. About two thirds were expected to be a success for the vendors – in line with last week’s auction clearance rate.

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Among the standout auctions was for a waterfront home with a private jetty and yard that backs directly onto Dolans Bay in the Sutherland Shire. It sold under the hammer for $4.43m.

The multi-level, four-bedroom house on a 1644sqm block on Port Hacking Rd went to market with a $4m-$4.4m price guide and sold near the vendor’s reserve.

The view from the Dolans Bay property on Port Hacking Rd.

Three bidders registered with McGrath selling agent Murray Cole but the offers were initially slow to get started. The auction opened on a vendor bid of $3.7m.

Retired vendor Brian Norman was reported to be ­“ecstatic” with the result. The buyers were a family from Gymea.

Mr Cole said bidding was “fast and furious” once it got going. “In this price bracket, the market is solid,” he said.

“There are lots of people wanting a nicer home and they’re happy to spend the money … there is a bit of pent up demand because there were almost no (listings) during the lockdown period. Buyers are now a bit more used to, a bit more comfortable, with the restrictions.”

Auctioneer Andrew Cooley calls bids on a Lilli Pilli house that sold for $2.31m.

The sale comes hot on the heels of a spate of high sales in the Sutherland Shire — last week a new auction record was set for the region when a Burraneer house sold for $7.1m.

The strong demand continued down south this week when a five-bedroom house on Immarna Ave in nearby Lilli Pilli sold for $2.31m, $130,000 above reserve.

Four bidders registered with agent Dax De Traubenberg of Abode Property and 16 offers were made. Auctioneer Andrew Cooley received an opening bid of $1.9m. All the bidders were local families.

In the northwest, 20 bidders turned up for the auction of an acreage in Kenthurst and the strong competition pushed the price $620,000 over the reserve.

The Robson Rd property that sold in Kenthurst.

The 2.3ha property with 74m of frontage on Robson Rd had a $2.1m reserve and sold through LJ Hooker-Dural for $2.72m.

Auctioneer Stu Benson received offers from 10 of the registered bidders but said the bids came at a frantic pace, with some making offers simultaneously. There were a total 32 bids. “This was a prime ­example of why should set your reserve at the consensus of buyer feedback — we had six people bidding above our reserve because the home was still in their budget,” he said.

The property included an old cottage but most of the interest was from buyers wanting to replace it with a modern home. “It will almost certainly be rolled over,” Mr Benson said.

The Putney property on Regent St sold at “land value”, the agent said.

A house on a prized 835sq m block in Putney sold for $2.81m, $310,000 over reserve, after attracting 35 bidders — a price the agent said represented “land value”.

Selling agent Joseph Mazar of Ray White-Ryde said nearly all the interest in the original-condition Regent St house was from buyers hoping to knock it down.

The winning bidders would be replacing the three-bedroom house with a modern luxury home, he said.

“It offered great potential,” Mr Mazar said “There was a mix of buyers who wanted to build duplexes and others with different plans … we were expecting a good turnout but not like this.”

The Regentville house from 1840s was well-preserved.

Further west, a Sandstone home in Regentville built in the 1840s as a workers’ cottage sold at auction for $1.49m.

The house on Bundarra Rd had been in the one family for more than a century and the original interior was largely intact — including the lime wash walls.

“It was like a museum,” selling agent Joshua Cassells of Starr Partners said, adding it was a high price considering the strict heritage restrictions. “You’d have to be careful with any changes,” he said. The reserve was $1.42m and seven bidders registered for the auction.

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.”

The Macquarie St house.

In the inner west, a modern-style five-bedroom house on Macquarie St in Chifley sold for $2.641m – $141,000 over the reserve. McGrath selling agent Marnie Seinor said there was a lack of similar stock and this pushed up the price.

The post Sydney auctions: surprise sales results suggest bumper market ahead for spring appeared first on realestate.com.au.

Chris and Mary Prior sold their Leichhardt home at auction. Picture: Sam Ruttyn

An inner west couple “nervous” about selling their house in the middle of a recession were left with reason to celebrate after their property sold at auction for $100,000 more than they hoped.

Leichhardt residents Mary and Chris Prior had set a reserve of $1.2m for their two-bedroom house on Roseby St but sold under the hammer on Saturday for $1.3m.

Fourteen buyers registered to bid with selling agency Adrian William and nine raised their bidder cards during the auction.

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“It was an excellent result. We were really surprised,” Mr Prior said. “We were nervous given the economic climate but more people came than we thought and it went beyond what we hoped. We’re super happy.”

The couple moved into the home seven years ago and did a renovation, including a kitchen upgrade and the addition of a back deck.

Auctioneer Clarence White dropped the hammer at $1.3m. Picture: Sam Ruttyn

“When we bought it, the whole backyard was just concrete and mostly old carport,” Mr Prior said, adding they would be renting while they contemplated their next move.

Selling agent Adrian Tsavalas said the auction was moved forward a week due to the strong interest.

“A few months ago it was the opposite,” he said. “Agents were moving auctions back because there weren’t enough bidders … this is a healthy sign of what’s to come for spring.”

Most of the bidder interest was from first homebuyers – many of who recognised the opportunity to get value in the current market, Mr Tsavalas said.

“Before, first homebuyers were saying they were happy to wait until prices fell. There’s more stability in the market, more certainty, so the buyers are more willing to engage now,” he said.

There was a crowd of about 50 people at the auction spread across both sides of the street.

Auctioneer Clarence White had to wait a minute before receiving the opening bid of $1.05m. The next offers went up in a mix of mostly $25,000 and $10,000 increments, with $1000 increases at the end.

The final price was a surprise, Mr White said. “It was apparent there was universal appeal for the home, but other good properties have not received as much interest.

“The market is very patchy. Homes you’d expect to sell well don’t and others end up getting a very high result. There’s no strong pattern to what properties are selling well and what aren’t.”

Mr White said this was probably the result of varying degrees of confidence from buyers.

“There’s plenty of buyers who are active, but not everyone sees value the same and no one is sure where prices will be in six months’ time.”

The Leichhardt sale was one of about 780 Sydney auctions scheduled for the week – a 32 per cent increase on the volume of auctions recorded at this time last year, CoreLogic data showed. Last week, 66.1 per cent of auctions cleared, up from 62 per cent the week prior.

The post Nervous home sellers get $100,000 extra for inner west house at auction appeared first on realestate.com.au.

29 Monash Avenue, Underbool is on the market for an affordable $60,000.

Buyers from far and wide are scrambling to secure a house listed for the price of a luxury car in a town renowned as “the gateway to the Pink Lakes”.

The three-bedroom house in Underbool, in Victoria’s northwest, had attracted about eight offers since hitting the market with a $60,000 asking price, Burns & Co Mildura agent Ian Miers said.

It also accrued more than 10,000 views on realestate.com.au to be one of Victoria’s most popular listings of the past week.

Mr Miers said the price point had clearly been attractive, with Melbourne’s median house price a whopping 12.5 times higher at $750,000, according to realestate.com.au.

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Buyers from across Victoria, and interstate, have made offers on the home.

The property is 12.5 times cheaper than Melbourne’s median house price.

The 29 Monash Avenue property also occupied a substantial 1244sq m block — three times the average lot size in Melbourne’s greenfield estates.

“(The house has) a lovely big backyard, 11ft (3.35m) ceilings, and a fair bit of charm and character about it,” Mr Miers said.

“It has a magnificent old slow-combustion stove in it — if I pulled that out, I could probably sell it for $3000-$4000.”

An old slow-combustion stove is a standout feature.

The quaint kitchen.

A big backyard is a selling point for the home.

Among those in contention for the property were buyers from Canberra and bushfire affected Gippsland town Cann River looking to move to Underbool, which had a population of just 215 at the time of the latest census.

A “beekeeper chap from down near Winchelsea” in the Surf Coast Shire was also in the mix, Mr Miers said.

“They’re from all over the place,” he said.

“And with the COVID-19 situation in Melbourne, the last three properties I’ve sold, in Ouyen, were all to people escaping Melbourne.”

The Underbool Hotel is also up for grabs.

The pub hasn’t operated for about two and a half years.

Mr Miers said Underbool was a farming community that offered a “lovely lifestyle” near the famed Pink Lakes and Murray River, with plenty of good fishing and camping spots nearby.

The town itself had a local store, a primary school, and a pub that was also on the market.

The century-old Underbool Hotel has a $170,000-$187,000 price guide, and has also attracted a couple of offers.

“It’s the only hotel in town and it hasn’t operated for about two and a half years,” Mr Miers

“The locals would love to see that open up again.”

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samantha.landy@news.com.au

The post Underbool: $60k house for sale in Victoria’s northwest goes viral appeared first on realestate.com.au.

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, as more homebuyers seek space and affordable housing.

New 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 Jac is Victoria’s most in-demand regional area. 10 Camrose Court is on the market there with a $3.3-$3.5m price tag.

National regional housing values have held firm throughout the coronavirus crisis, dropping just 0.1 per cent between March and June, according to CoreLogic’s latest quarterly regional review. Home values fell 2 per cent in the capital city counterparts.

Ballarat boasted the country’s strongest selling conditions, with a typical home changing hands in about 30 days with minimal discounting, the research showed.

CoreLogic’s head of research Tim Lawless said buying regionally presented both advantages and risks.

“On the positive side, housing prices tend to be lower, providing a more affordable entry point to the market,” he said.

“(Plus,) population densities are generally lower, which is something that might be even more appealing as we move through this pandemic. And in many examples, regional areas will offer some lifestyle advantages, either via the location’s proximity to the coastline or wide open spaces.”

Mr Lawless said on the downside, regional economic conditions could be more volatile, so buyers should be wary of areas that relied heavily on a single industry for economic success.

24 Meakin Street, in hotspot East Geelong, is on the market with a $1.2-$1.3m price guide.

Suburbs in Geelong and the Bellarine Peninsula dominated realestate.com.au’s top 10 list of Victoria’s 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.”

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.

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.

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

Eric, 27, and Valentino, 38, (pictured) 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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The post Regional Victoria’s most in-demand suburbs: Geelong in buyers’ sights appeared first on realestate.com.au.

The North Adelaide property at 47 Archer St used to be a pub but has been transformed into a home. Supplied: Clique Creative.

If it’s history you’re after, you’ll find it in spades in this North Adelaide home – once a favoured spot of young revellers in its former life as the Dover Castle hotel on Archer St.

Louise Guthleben and Simon Williams bought the home at 47 Archer St 10-and-a-half years ago, attracted by its location, history and grand scale.

“It came on the market on a Friday afternoon and we bought it on the Monday,” Ms Guthleben says.

“We just fell in love with it immediately.

“The thing that mattered most to us was the location – here we can be seated at Adelaide Oval within an eight-minute walk.

“I love to walk everywhere, my husband works in the city and walks there every day.

“Those parks out the front – I walk everyday and I go out the front door and I never know which direction I’m going to head.

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The owners bought it more than a decade ago. Supplied: Jonathan Kissock.

It used to be the Dover Castle hotel. Supplied: Jonathan Kissock.

It has three bedrooms and two bathrooms. Supplied: Jonathan Kissock.

“O’Connell St has two great supermarkets, there are two great pharmacies nearby, I walk to the library and the post office – it’s such a great location.”

Naturally, a home of this age, particularly one that used to be a pub, comes with a few stories.

“I love the history of it,” Ms Guthleben says.

“It was built in 1850 and it just grew in pieces over the years.

“The last major reno – prior to it being converted to homes and divided – was in 1911 by architect Kenneth Milne who did the Adelaide Oval scoreboard, and he did a lot of pubs.

“The irony is, I don’t drink.

“My cousins used to drink here and Simon had been here, but every time you tell someone you live in the old Dover Castle hotel, people tell you fantastic stories about these epic nights here.

“Also, because I’m a music teacher, when you read that Bon Scott used to play in our parlour, it’s amazing to me.”

Despite many older homes feeling dark or cold, the couple say theirs is anything but.

“This house is incredibly light, the sun just streams through and it has huge ceilings so it feels doubly spacious,” Ms Guthleben says.

“And the rooms are huge – the master bathroom was originally one of the then pub’s eight upstairs bedrooms, so it’s massive.

“The beer windows were added in the 70s.

“I first thought ‘how am I going to be able to live with these windows’, but the colours they fill the room with is incredible.”

The cellar often attracts guests. Supplied: Jonathan Kissock.

The property even has the old windows still. Supplied: Jonathan Kissock.

The couple have made some changes to the home, but have left it largely alone.

“We re-did some of the structural timber work and re-did the kitchen,” Ms Guthleben says.

“I wanted an Arts and Crafts style kitchen because the ceiling in the main living room is classic Arts and Crafts style, and I’d visited a lot of those homes in the UK, and it ended up being a really functional kitchen with plenty of storage.

“We haven’t really done anything substantial to the property aside from that because nothing needed fixing because the home is so solid, with no cracks, and nothing ever needed fixing.”

The home – set over two levels – has three bedrooms, a spacious open-plan kitchen, dining and living area, a courtyard and a spacious and versatile cellar.

“The cellar is amazing and people gravitate towards that,” Mrs Guthleben says.

“If we have people over to stay and have too many people for bedrooms, they just sleep in the cellar.”

The couple say they’ve loved the home, which could be perfect for a family, or those looking for a convenient lock-up-and-leave lifestyle.

“We don’t really own this home, we’re just holding on to it and looking after it for this moment in history,” Ms Guthleben says.

“We feel like we’re custodians and we are so lucky, honoured and privileged to have lived here in such a fascinating place.”

The post North Adelaide’s former Dover Castle hotel hits the market as a historic character home appeared first on realestate.com.au.

Artist Bibi Barba has partnered with Link Housing to showcase the No Place Like Home exhibition:Justin Lloyd

While the world is despairing over this pandemic and self-isolation, leave it to much-loved artist Bibi Barba to add some light and positivity.

The renowned Aboriginal and Torres Strait Islander artist has joined community housing provider Link Housing to launch its first virtual online gallery.

The exhibition will showcase artworks, including video, poetry, sculptures and photographs reflecting the theme No Place Like Home. As a patron of the event, Bibi is excited about the artworks that have been produced for the event, which will go live on September 1.

“As an artist of 35 years, I sit on different boards to critique art — I know good art when I see it,” she says.

Having studied law at UTS and liaising with Indigenous artists to protect their work, Bibi is frustrated by the influx of fake art on the market.

“I had my work ripped off by someone in Poland and we’re allowing fake art that is made in Bali to be shipped here. Aboriginal stories that are thousands of years old are passed off as commercial art — they have no connection at all to community,” she says.

“I want to focus on art that is wholesome and authentic.”

Something to remind Bibi of her mother. Picture:Justin Lloyd

Ceramic bowl:

This is mum’s (artist Lorna Morgan) first pottery piece. I have it on my shelf in my kitchen so she’s always close to me, even though she’s just a phone call away

Therese Ryder artwork

Therese Ryder artwork:

I bought this in Alice Springs and I just love the ghost gum tree in the front and the MacDonnell Ranges at the back. Therese is related to Albert Namatjira.

Woven basket from Bula’bula Arts

Woven basket:

I went out to country about five years ago and purchased this at Bula’bula Arts. There was a beautiful dark twirl in the middle, but the dye has faded a bit. It’s just so beautiful.

Rock from Mystery Bay where Bibi’s grandmother was born

Rock:

This is from the Tilba Tilba. My (paternal) grandmother was born at Mystery Bay (on the NSW far south coast). My sister and I visited the area and took a piece of rock with us to connect us to country.

Banksia jar:

This also came from Tilba Tilba. I purchased this from an arts and craft shop. It had eucalyptus oil poured into it, so it not only was from country, but it had the smell of country too.

Pieces gifted to Bibi from her grandmother, Doreen Barba

Perfume bottle with porcupine quill:

This is so very elegant and came from my grandmother Doreen Barba’s collection. It’s a beautiful old perfume bottle from the 1930s or so. The porcupine quill belonged to my grandmother and it’s another lovely reminder of family.

Artist Bibi Barba at home with her favorite things, in Kirribilli, today. Picture:Justin Lloyd

Earrings:

I bought these in The Strand Arcade. I wanted something to remind me of water, so I was drawn to the turquoise. I also love silver, so they were a perfect match for me. I wear them everywhere.

Bibi’s own artwork on a silk canvas

Oyster Dreaming on silk canvas:

I designed this based on the Kirribilli oyster shells which are embedded in the rock face. It’s such a beautiful piece. It’s in silk canvas, which I invented.

50th birthday present

Cushion:

This was a gift from a friend for my 50th birthday. It’s such as special gift that they bought in Darwin and fits in perfectly with the feel of my place.

The post Home is where the art is appeared first on realestate.com.au.

Dining chairs that invite you to linger at the table, like the Maine Mk2 dining chair from Domayne, are proving popular for dining in, domayne.com.au.

From self-isolating to opening up your home for a small number of visitors, COVID-19 has been a process of managing health concerns and fears while trying to maintain order at home.

Never has there been so much focus on the home front, with parents working from home while homeschooling and everyone having more time to hang out together. Every room in the house is in high demand, with formal rooms seconded as makeshift studies and the kitchen acting as the communal playground. The dining room, which had given way to the convenience of the breakfast bar, is now back in the spotlight.

Great Dane founder Anton Assaad says the pandemic has definitely changed the way we live, with the dining room going through a renaissance.

“It has opened our eyes to what is possible at home,” he says. “How can we create a home that is a place of safety and comfort, as well as finding places to hide from each other during lockdown?”

The soft curves and moulded seat of the DC09 chair from Great Dane ensures everyone is sitting comfortably, greatdanefurniture.com.

Anton says the breakfast bar is not a replacement for the dining table, where everyone can talk while facing each other.

“I sat down with my three kids on Sunday night at the table — I couldn’t bear another meal served on the bench,” he says.

“My youngest is often trying to drag me and the other two kids to the table. I think she feels it’s a place where we can sit together and share a laugh.”

When entertaining, he says it’s important to take the time to create a good dining experience.

“This includes good quality alcohol, great company and good food — in that order.”

The sturdy Abbey dining table from Oz Design Furniture is ideal for families. Built-in seating easily allows for extra guests at the table, ozdesignfurniture.com.au

With open plan living popular in new builds and renovations of older properties, it can be challenge to create an intimate dining setting. Having guests look into a messy kitchen is not ideal.

“This is a challenge,” says Anton. “We have all felt this need to have one giant open space, a sign of a successful design.”

Instead, to create a sense of warmth, Anton suggests using dimmable lights and overhead pendant, floor and table lights to create intimacy.

“Stay away from downlights — they are ugly and throw harsh, unflattering light on the table and your guests,” he says.

Softer lighting makes dining in more intimate. This casually elegant dining setting is from the Royal Doulton, called Maze Grey, royaldoulton.com.au.

Senior interior designer at Home by Belle Alexandra Bradley has also noticed a distinctive shift in how clients feel about their dining rooms.

“We can’t travel at the moment so people are investing in the place they’re spending the most amount of time,” she says. “They are looking at how to better use the space available to them.”

Ditch the formality with a round dining table, like the Hudson marble topped table and Tansy chairs from GlobeWest, globewest.com.au.

Interestingly, in the lead-up to COVID-19, dining room trends favoured soft furnishings and larger, comfortable chairs.

“Rather than the straight-back etiquette at the dining table, we’ve seen chairs that are more relaxed,” Alexandra says. “This soft furniture is perfect if you’re claiming the dining room as your office right now.”

Looking forward, Alexandra says open plan living and dining spaces suit lighter colours, while separate dining spaces benefit from darker, moody tones to create a more intimate feel.

More: homebybelle.com.au

The post Why the dining room has become an important space in the house again appeared first on realestate.com.au.

Seamus and Ali Kay with their kids, Olivia,14, and Liam, 16, at the knockdown property in Gordon Park they have purchased. Photographer: Liam Kidston.

SIX Brisbane suburbs have been identified where savvy home hunters can instantly pocket hundreds of thousands of dollars by building rather than buying their dream home.

Buying a knockdown property and rebuilding on the site is emerging as a trend among owner-occupiers wanting to find a home and turn a profit straight away in the current market conditions.

But buyer’s agents warn the strategy could go horribly wrong unless the right locations are chosen.

BEFORE: The original house at 49 Power St, Wavell Heights, sold for $642,000.

AFTER: This new-build at 49 Power St, Wavell Heights, sold for $1.65m.

Streamline Property Buyers managing director Melinda Jennison said the lack of property listings, rise in interstate enquiry and difficulty in finding the right home were contributing to the trend.

Mrs Jennison said she knew of more than 20 sales across six prime suburbs in recent months, where clients had bought a knockdown, demolished it and rebuilt on the site, creating between $100,000 and $530,000 in equity.

In the inner north suburb of Wavell Heights, an owner-occupier recently paid $642,000 for a knockdown at 49 Power Street, spent $650,000 building a new home on the site and ended up with a property worth $1.65 million — giving them $358,000 in instant equity.

The buyer of a knockdown home at 102 Fingal St, Tarragindi, recently pocketed $422,500 in equity after buying the site for $527,500 and paying $650,000 for the build.

“When you actually run the numbers, the tactic makes sense, but location is crucial otherwise you’ll be left out of pocket,” Mrs Jennison said.

“It really is a case of destruction, plus construction, equals profit.”

BEFORE: This post-war home at 102 Fingal St, Tarragindi, sold for $527,500.

AFTER: This new-build on the same site at 102 Fingal St, Tarragindi, sold for $1.6m.

Mrs Jennison said the key to the strategy’s success was identifying specific suburbs and

individual property characteristics.

“You firstly need to find near-city locations where it’s easy to demolish an existing home and

create a clean slate,” she said.

“But the suburb must also have wide price disparity between new and existing homes,

gentrification, strong family-buyer demand and desirable attributes such as views.

“It’s the magic formula that makes the figures work.”

Mrs Jennison said the COVID-19 pandemic had created ideal conditions for inner-Brisbane home builders.

“Property listings have fallen dramatically in the shadow of the crisis,” she said.

“As such, there’s hot competition among buyers, with high-quality homes being snapped up quickly at surprisingly high prices.”

BEFORE: This original home at 263 Ferguson Rd, Seven Hills, sold for $640,000.

AFTER: This new home built on the site at 263 Ferguson Rd, Seven Hills, sold for $1.65m.

Mrs Jennison said the COVID crisis had also increased southeast Queensland’s appeal among

southern buyers, and many interstate relocaters would look to embrace this strategy.

“We were seeing strong net interstate migration prior to the crisis,” she said.

“While this momentum has slowed due to border restrictions, there’s no doubt once they’re lifted, huge numbers of southerners will make Brisbane their new home.”

Buyer’s agent and Cohen Handler Queensland general manager Jordan Navybox said he had also noticed an increase in clients looking for post-war homes to demolish so that they could build on the site.

“Definitely more recently because there is such a lack of stock when it comes to the finished product,” Mr Navybox said.

“The reason people are doing it is it’s cheaper to buy a post-war home and build than it is to buy the finished product in certain suburbs.”

BEFORE: This original home at 21 Glebe St, Gordon Park, sold for $669,500.

AFTER: This home built on the same site at 21 Glebe St, Gordon Park, sold for $1.535m.

Mr Navybox said the most popular suburbs for his clients looking to knockdown and rebuild were Camp Hill, Coorparoo, Bardon and Grange.

“We have so many clients asking for Grange, and when they can’t find what they’re looking for, they move on to Gordon Park,” he said.

But Mr Navybox said the strategy was not for every buyer.

“It’s a time thing,” he said. “You have to rent in the meantime and once you’ve committed to buying the land and building, you’re then paying mortgage repayments on a home you’re not even living in, plus rent.”

He said well-priced post-war homes in city fringe suburbs were also hard to find.

“You want to pay as close to land value as possible,” he said.

BEFORE: This original site at 69 Alderley Rd, Alderley, sold for $540,000.

AFTER: This new-build on the site at 69 Alderley Rd, Alderley, sold for $1.315m.

Ali and Seamus Kay have just started demolishing a knockdown home they bought offmarket in Gordon Park.

Mrs Kay said they never intended to build, but could not find a home on the market that ticked all their boxes.

“We never would have contemplated in our wildest dreams building new on a block of land in Gordon Park,” Mrs Kay said.

“But definitely this is a much more affordable option for us.

“With what we would have been looking at, we wouldn’t have gotten as much house as we’re getting now, and we’d have had to pay a few thousand more to get what we really wanted. This way, we’re saving money and getting exactly what we want.”

The original home on the site in Gordon Park that Seamus and Ali Kay are demolishing to build a new home on.

Mrs Kay said the only downside was having to wait up to 12 months for the house to be built.

“But we’re prepared to wait to get the value for money for this, as opposed to settling for something that wasn’t ticking all the boxes,” she said.

Mrs Jennison, who bought the property for the Kays on their behalf, said they would lock in at least $200,000 in equity based on comparative sales in the area.

SIX BRISBANE SUBURBS WHERE YOU SHOULD BUY A KNOCKDOWN

1. Wavell Heights

Just nine kilometres north of Brisbane’s CBD and dominated by homes on big blocks, Wavell Heights appeals to families.

With a median price of $742,500, according to CoreLogic, the suburb has a huge price difference between existing and new homes.

Wavell Heights is also the first suburb north of the CBD with limited numbers of character

protected homes, which means most older dwellings can be knocked down.

2. Seven Hills

With a median value of $943,750, Seven Hills is only five kilometres from the CBD and is the first suburb on the southeast side of town that is not dominated by demolition-protected character residential.

The entry price for an old house in the suburb is about $750,000.

Its small size means supply is limited, which helps keep end values high, and it is also elevated

Price disparity is also significant, making it easier to create instant equity from a new build.

3. Tarragindi

This southside suburb often flies under the statistical radar because it shares a postcode

with Holland Park.

But its big blocks and demolishable housing are presenting opportunities nine kilometres

south of the CBD.

New-build gentrification and proximity to the new metro infrastructure coming to Brisbane is driving up price disparity.

The buy-in price for an older home in Tarragindi is $650,000, providing excellent upside for new builds.

4. Alderley

With a median house price of $850,000, Alderley’s mix of facilities and family-friendly appeal

are key to its new-build potential.

The suburb, just 7km from the CBD, has an array of different sized blocks, solid retail facilities and great public

transport options.

Most properties are not demolition protected.

5. Corinda

Corinda’s elevated streets — some with city views — and scarce character-home protection make it appealing for building new homes.

Demand for the suburb feeds off its highly desirable neighbours of Chelmer, Graceville and

Sherwood, which are areas with predominantly character protected homes.

Blocks of about 600 sqm are achieving prices of about $650,000, but the median value of

homes in the suburb is $850,000.

6. Gordon Park

Gordon Park has proportionally more character housing than the other suburbs, but there

are pockets of demolishable homes with excellent buy/build/sell price disparity.

The suburb is close to infrastructure and services, Kedron Brook, and retail hubs such as Lutwyche shopping centre.

The parkland lifestyle also attracts family buyers, which is bolstering the value of newly built

homes relative to older stock.

(Source: Buyer’s agent Melinda Jennison)

The post The six Brisbane suburbs where it’s better to build than buy appeared first on realestate.com.au.

Pet grooming stations, high speed lifts, bocce lawns and now Australia’s first sky garage – luxury apartment living has hit a whole new level on the Gold Coast.

Plans for The Monaco residential apartment tower on MacArthur Parade in Main Beach were given the green light by council this week, paving the way for would-be residents to drive into a personal car elevator stopping inside their apartments.

An artist’s impression of a sky garage inside The Monaco, Main Beach.

Designed by Rothelowman architects, marketing for the $108 million Ignite Projects development describes the sky garage as the first of its kind in the southern hemisphere.

“A rare privilege, this will make you one of just a few apartment owners in the whole world who can enjoy this luxury,” the brochure reads.

An artist’s impression of The Monaco, Main Beach.

Prized pooches will be taken care in a pet grooming station while residents can also partake in a round of virtual golf, visit an onsite wellness studio with gym, steam and treatment rooms, and workout in a 24m lap pool.

The opulent 23-level tower, with 360-degree views, comprises eight half floor sky villas, 16 full floor sky villas and one double storey penthouse, ranging in price from $1.8 million to $4.9 million.

An artist’s impression of the view from The Monaco, Main Beach.

While the sales campaign officially kicks off next month, NPA Projects Director of Project Marketing Andrew Erwin said interest was already high among Gold Coast downsizers.

“There is an appetite for this level of luxury on the Gold Coast particularly among locals who want to upgrade in Main Beach,” he said.

Elysian Broadbeach

An artist’s impression of Elysian at Broadbeach.

In nearby Broadbeach, residents of the near complete $79 million Elysian apartments will soon be lapping up the luxury of an automated carparking system.

The state-of-the-art technology, said to be a first for a Gold Coast development, parks and retrieves residents’ cars while an intelligent ‘My Butler’ 24/7 virtual concierge system allows

residents to book onsite facilities and local services, including transport, cleaners and car washes.

Cannes

An artist’s impression of the rooftop lounge and firelit at Cannes, Surfers Paradise.

Morning workouts come with a riverfront view at Cannes, Surfers Paradise.

The 96-apartment Cannes building, taking shape on the water in Surfers Paradise, counts a riverside bocce lawn, sunset bar and 25m lap pool among its luxury inclusions.

The rooftop will showcase panoramic hinterland, river, city skyline and ocean views that can be taken in from a pavilion with a fire pit, private dining and board room, billiards room and library, alongside a wellness centre, gym, hydrotherapy shower, spa and treatment rooms.

Signature Broadbeach

An artist’s impression of the 50m infinity edge pool at Signature Broadbeach.

Construction has commenced on $210 million Signature Broadbeach which boasts a 50m infinity edge pool, marketed as the first of its kind for the Gold Coast.

Residents will also have access to a lounge and private dining area, private theatre, steam room, sauna and spa as well as an expansive lawn area with barbecue and teppanyaki grill.

Ocean

An artist’s impression of Ocean in Surfers Paradise.

Standing at 252 metres tall and 76 levels, the Surfers Paradise super tower named Ocean will be the city’s highest residential apartments once complete around mid-2022.

It’s appropriate then that the building will boast five state-of-the-art high-speed smart lifts which will travel at seven metres per second.

Other lifestyle facilities at 84 The Esplanade will include a beach club precinct, indoor pool, gym, sauna, covered alfresco eateries and restaurants facing the ocean.

Flow Residences

An artist’s impression of Flow Residences in Rainbow Bay.

An artist’s impression of the amenities on offer at Flow Residences.

Custom designed for surfers and beach lovers, Flow Residences in Rainbow Bay provides personal surfboard locker rooms and a prep area to make it super easy for residents to go to and from the beach.

A gym and fitness centre, teppanyaki barbecue area, formal dining room, entertainment room and climate controlled wine storage are among the shared amenities.

The post Luxury living hits new heights with garages in the sky appeared first on realestate.com.au.

6 Jake Court, Bonogin.

Imagine waking up every day inside your own hinterland hotel.

A space where the chatter of native birds is the first sound you hear upon waking while the hum of cicadas takes over as the sun descends behind the trees.

Nestled in Mudgeeraba Forest, the inner city acreage known as Carinya is the closest thing to a year-round holiday in the hills.

6 Jake Court, Bonogin.

The newly constructed residence has all the appeal of a hotel-style retreat — a spacious master suite enjoys privacy and peace in one wing while at the opposite end, two junior suites and a guest bedroom each have their own ensuites and leafy green views.

Open plan living, dining and kitchen zones occupy the heart the home, flowing freely onto expansive timber decks where the surrounding forest makes it feel like your own private sanctuary.

6 Jake Court, Bonogin.

The striking design is the work of Gold Coast builder Paul Tidmarsh, of PT Pole Homes, whose distinctive pole homes are highly regarded in Bonogin.

The Jake Court residence is the twentieth pole home Mr Tidmarsh has built on the Gold Coast in 15 years, with up to 15 of those in Mudgeeraba Forest.

The pole-style home provided a practical and economical solution for the sloping 4327 sqm block, with the elevated, lightweight timber construction eliminating the need for a concrete slab.

“To put a 640 sqm house on a sloping block on a slab would be a crazy cost,” said Mr Tidmarsh, who “married into” building pole homes by learning the ropes from father-in-law Jeff Dray.

6 Jake Court, Bonogin.

There’s currently a two-year wait for a PT Pole home, with each project taking up to eight months to complete.

Materials were moved uphill by hand to the Jake Court site, with raw finishes such as Western red cedar cladding, Southern Beech flooring, an extra long Blackbutt kitchen benchtop and corrugated iron ceilings adding to the rustic appeal of the home.

“The good thing about the tin is that once you put it up you don’t have to paint it or maintain it down the track,” Mr Tidmarsh said. “It also ties the inside with the outside.”

6 Jake Court, Bonogin.

The project was commissioned by
LJ Hooker Robina Group director David Manby and wife Blanche, who purchased the block in April 2019 with a view to building.

It’s the second pole home project the Manbys have completed in Mudgeeraba Forest, with a five-bedroom residence at 31 Beau Parade sold in May last year.

LJ Hooker Property Hub agents Roberto Scartozzi and Lisa Psaras are leading the campaign to auction on 13 September.

6 Jake Court, Bonogin.

Ms
Psaras said the concept of an inner-city acreage was highly appealing.

“You’re still within 15 minutes from everything in Bonogin – schools, shopping centres, hospital and the M1,” she said.

“You’ve then got that hinterland treescape experience. Everybody who has been through the property is blown away by the scope of the home and the setting.”

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