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Only 3 per cent of tenanted Victorian households received COVID-related rent reductions, despite proof of widespread income loss and unemployment amid coronavirus.

A Victorian parliamentary inquiry report released this week shows 17,552 rent reduction agreements were registered with Consumer Affairs Victoria by July.

Rents reduced on average by $155, or 27 per cent, for those financially affected by coronavirus.

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About 3 per cent of tenanted Victorian houses have received rent reductions. Source: iStock

More than 3000 renters also received $2000 rental support payments up until May.

But broader surveys suggest many renters financially impacted by the pandemic have been short-changed on their rent reductions.

A Better Renting survey of almost 1000 Australian renters shows 63 per cent lost income due to coronavirus, but only 9 per cent of those received a “satisfactory” rent reduction.

The report, which included 283 Victorian responses, indicated almost half of financially impacted tenants did not make a request because they were afraid to ask or did not believe they would be successful.

For tenants who did ask, about 20 per cent were refused a reduction entirely, another 7.5 per cent had their payments deferred, 9 per cent had fruitless negotiations and 4.5 per cent received a trivial reduction.

Many of those who did start negotiations said they received little support from property managers and landlords, who often took weeks to reply. Others were asked to dip in to their superannuation or provide excessive amounts of documentation to prove their hardship.

About 63 per cent of renters surveyed has been financially impacted by COVID-19. Picture: Jason Edwards

Better Renting executive director Joel Dignam said Victorians were still especially vulnerable to financial hardship during stage four coronavirus restrictions.

“This means many renters are still dependent on income support, they haven’t got any rent reduction, and they are struggling to cover their living expenses,” Mr Dignam said.

“In light of the situation, the federal government should keep the rate of JobSeeker, so that people don’t face the prospect of having their income slashed in less than eight weeks.

“The Victorian Government can also extend the existing eviction moratorium past September so that renters have a bit more breathing space.”

Tenants Victoria chief executive Jennifer Beveridge said anecdotal evidence suggests some tenants came to “private arrangements” for rent reductions, which would not have been counted in state government figures.

“But this also makes them ineligible for a rental relief grant through the state government,” Ms Beveridge said.

“We would urge everyone to register their agreement with Consumer Affairs Victoria so they have access to support and protections.”

Ms Beveridge said there was growing concern over “balloon debt” accruing for renters who accepted payment deferrals over a reduction.

Unemployment figures are predicted to rise in Victoria as stage four restrictions shut down many industries for the next six weeks.

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Lot 1-7/100 Skyline Drive, Howrah, is listed with Charlotte Peterswald.

THE chance to buy land and build a dream home in this desirable Hobart Eastern Shore suburb is all too rare — or it usually is.

A well-established, popular suburb like Howrah is rarely the type to have more than a few blocks of land available to purchase.

But right now, property buyers who dream of building in Howrah will find they have a few options to consider.

In elevated Skyline Drive, Charlotte Peterswald for Property has seven lots available with a starting from $375,000+.

The variety on offer here is outstanding with lots ranging from 975sq m up to 24.61ha.

These premium parcels of land bask in those unrivalled views that Howrah is noted for — across the Eastern Shore to the Derwent River, the city and the mountain.

Skyline Dr is also a quiet no-through road immersed in nature and bushland.

Skyline Dr, Howrah.

It is conveniently located just minutes from local shops, schools, services, cafes and beaches.

Across the way at Howrah’s new homes neighbourhood Glebe Hill, the Vineyard Estate development is running hot with multiple stages sold out.

The latest stage offers a prime position alongside a vineyard — that means pretty views and no neighbouring houses on that side of the property.

Position and convenience are in abundance here including easy access to the Glebe Hill Nature Reserve walks.

Alongside all that Howrah offers, the amenities of Hobart are 15 minutes in one direction and the beach at Lauderdale is nine minutes away in the other.

Blocks start at 562sq m up to 882sq m, with prices starting from $200,000 — contact Knight Frank for details.

Vineyard Estate, Glebe Hill in Howrah.

And finally, a new release titled Derwent Ridge in Tunah Street offers those big Hobart views and yet more sizeable, prestige blocks of land.

In a time when some residential developments are opting for smaller, “low maintenance” allotments, Howrah seems to be trending in the opposite direction.

Derwent Ridge has a few lots of about 887sq m size and five more that are well over 1000sq m — one is 1873sq m.

These lots start at “Offers over $400,000”.

They are nestled beside the Toorittya Bushland Reserve and take in a beautiful outlook that frame the river, city and mountain perfectly.

For details head to derwentridge.com.au

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Auctioneer David Gray called bids at 17 Brocka Ave, Belmont, on Wednesday. It was one of the last in-person auctions before Stage 3 COVID-19 restrictions came into force. Picture: Glenn Ferguson

More than a dozen potential buyers took part in the last in-person auctions in Geelong for at least six weeks as three houses were snapped up on Wednesday night.

Two sold under the hammer — one beating reserve by $98,000 — while the third passed in, but sold immediately after.

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Real estate agents rushed to beat the Stage 3 COVID-19 restrictions, which moves auctions online in regional Victoria.

Three online auctions are scheduled in Geelong on Saturday.

Buyers Chaille Breuer and Cam Atkins listened on the phone as Mr Atkins’ Belmont father bid for 17 Brocka Ave, Belmont.

The couple, who have one child, will relocate from a western Melbourne residence (which they now need to sell) to the renovated four-bedroom house after bidding $807,000.

There is still inquiry coming through even since Sunday’s announcement, Buxton agent David Gray said. Picture: Glenn Ferguson

Ms Breuer said her husband had been working from home during the pandemic, prompting their decision to move to a bigger property closer to his family.

“I think it’s the right time, given he’s not going to work all the time, to move further out and enjoy everything that brings,” she said.

“It’s closer to the coast, closer to family.”

Buxton, Highton agent David Gray said five buyers registered, with two bidding in the lounge room. The reserve price was $790,000, he said.

17 Brocka Ave, Belmont, sold for $807,000.

At 10 Emerald Court, Belmont, seven contested the four-bedroom house, which sold to local buyers for $658,000, smashing the $560,000 reserve, Barry Plant, Highton agent Matthew Constantine said.

“We had 105 groups through that property throughout the campaign. Around that price point is just red hot with activity,” he said.

A local party is set to renovate a three-bedroom house at 2 Desmond St, Highton, after securing the 1003sq m property for $630,000 after it passed in for $610,000.

Five buyers had registered to bid on the newly renovated house.

Buxton, Highton agent Tony Moorfoot said several offers, subject to finance, came after the auction, but the sellers took the unconditional offer tabled by the highest bidder for the Queens Park residence.

Mr Moorfoot said while the property listings were about 15 per cent down on normal, many agents have reported record activity for July with a lot of competition for homes, especially owner-occupiers.

“It shows how many people see value in Geelong and regional Victoria,” he said.

Mr Gray said time will tell what impact the restrictions have on buyers and sellers.

10 Emerald Court, Belmont, attracted eight buyers, with seven bidding at auction.

“We had such good momentum there. I’m quite comfortable because we’ve done this before. This time we know how to navigate through it easily,” he said.

“I’ve got a lot of private inspections. There is still such a big local market in my opinion.”

Mr Constantine said family, friends, advocates and building inspectors could help Melbourne buyers now unable to physically inspect properties in Geelong under the Stage 4 lockdown.

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The post Sellers earn $98K bonus as buyers rush last-minute auctions ahead of Stage 3 restrictions in Geelong appeared first on realestate.com.au.

No. 2-4 Cottonwood Pl at Castle Hill is on the market.

Buyers have the chance to snap up one of the largest residential properties standing in Castle Hill.

The 3504sqm estate has a presence on three different streets and is minutes from the town centre.

Listed with a $4.5 million price guide, CoreLogic reports 2-4 Cottonwood Pl would claim the highest recorded sale in Castle Hill this year by $550,000 if it sells at the guide.

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The swimming pool has a roof over it.

The huge estate has an undercover swimming pool, tennis court, wine cellar and Koi pond. It also features two freestanding houses on the property that have eight bedrooms between them.

Kanebridge Property agent Natalie Dixon said the estate is unlike anything else in Castle Hill.

“There are not many homes in Castle Hill that have two houses, a pool and a tennis court,” she said.

Get lost in the Japanese garden.

A $4.5 million guide has been set.

“To find a block of this size, you generally have to look at a handful of older homes in Castle Hill.”

The main residence has five bedrooms across the upper level, including the main that has a walk-in wardrobe, daybed and a marble bathroom and spa. Downstairs has multiple indoor/outdoor spaces, as well as a kitchen finished with marble and stone benchtops, a handmade Italian cooktop and oven. There is also a home theatre with a large screen and a bar.

There are eight bedrooms between two houses.

The home theatre has a bar.

The second residence has a lift connecting the ground floor with upstairs, as well as two kingsize bedrooms that share an ensuite and a regular size bedroom.

A sauna, jacuzzi, wine cellar, manicured gardens and a flood lit tennis court are just some of the other resort-style features of 2-4 Cottonwood Pl.

Ms Dixon said the home has been popular so far with locals and even buyers from as far as Newcastle.

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The post Castle Hill home with two freestanding houses comes up for sale with $4.5 million guide appeared first on realestate.com.au.

The Cascade Bentleigh development by CBG Architects is under construction and tipped to remain popular with buyers during lockdown.

Technology implemented since Melbourne’s first lockdown is expected to keep househunters’ home dreams alive for the coming six weeks.

The city’s developers and new home builders have embraced virtual reality and online trading and are prepared to soldier on.

Last weekend Villawood Properties used an online ballot to sell 14 super-sized blocks of land worth an average $462,000 in the space of 40 minutes at a new estate in Sunbury.

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The Sherwood Grange launch went “smoothly”, despite then-stage-three restrictions across Melbourne, chief executive Alan Miller said.

While demand had tapered since an initial spike in response to the government’s $25,000 HomeBuilder grants across late June and early July, it would continue online despite the city moving to a stage four lockdown, Mr Miller said.

More than a dozen buyers splashed an average $462,000 on blocks of land at Villawood’s Sherwood Grange estate launch online last weekend.

Burbank Group managing director Jarrod Sanfilippo said the home builder would be very busy over the coming six weeks with a web portal needed to lodge applications for HomeBuilder expected to be online mid this month.

They were also seeing significant uptake of digital offerings including electronic document signing and their MyPlace3D software, which allows prospective homebuyers to design a home from their living room.

Castran Gilbert director Michael Lang said the project marketing firm was expecting to keep the market moving after the previous lockdown encouraged many developers to implement virtual tours and electronic contracts.

The Lt Hardiman Lofts at 347 Macaulay Rd, Kensington are under construction and buyers are pursuing it even without something to inspect.

Buyers, too, were “more comfortable” with the technology and had moved on the Little Hardiman Lofts in Kensington (middle right) and Cascade apartments in Bentleigh (main) with little regard for traditional display suites.

“You were always buying it off the plan, now you are just buying it off the internet,” Mr Lang said.

But for those not comfortable buying without meeting with an agent or visiting a display, it would be possible to get 90 per cent of the way through the purchase process, he said.

Following Melbourne’s first lockdown, developer Caydon commissioned virtual tours of all its apartment projects.

Buyers can tour the HOME by Caydon display suite without leaving their living room.

Throughout April and May, virtual appointments with prospective buyers outnumbered all other forms of connection, according to Caydon international sales and marketing director Steve Williams.

“Technology will continue to be a significant solution to the problems COVID-19 and the subsequent restrictions of movement,” Mr Williams said.

“Technology is helping bridge any physical gaps between us and our clients during COVID-19.”

Meanwhile, Pace Development Group sales and marketing director Ashley Bramich said 360-degree video tours of townhouses at their Pace of Sunshine North development were viewed more than 100 times a week.

More than 100 buyers a week are taking 360-degree video tours of the Pace of Sunshine North townhouses.

“In the past, 360-degree video tours helped get people to the display, but now buyers are actually buying from them,” Mr Bramich said.

“The quality and technology is now of a standard that educated buyers feel they have the information to proceed with confidence.”

This had helped drive digital sales from about 5 per cent of their market a year ago to 35 per cent today, with the figure expected to rise as more projects enabled electronic contracts — something that would have long-term benefits to efficiency and the environment.

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