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Rita Hamlin’s grand Darling Point home with Florence Broadhurst wallpaper sells for $10m+

No. 15 Eastbourne Rd, Darling Point has sold.

Yet another one of Sydney’s grand old homes — sitting on the shelf since before COVID-19 struck — has been snapped up in continuing positive signs for the prestige market.

A 1920s landmark residence in Darling Point owned by Rita Hamlin for 45 years, with spectacular harbour views, has sold for more than $10m, reliable sources say.

However its sales agents, Richardson and Wrench Double Bay agents Michael Dunn and Andrew Birbeck, wouldn’t comment on the sale price when contacted due to a confidentiality agreement.

The five-bedroom home Kendall Lodge, with Florence Broadhurst wallpaper on an 892 sqm block at 15 Eastbourne Road, has taken a substantial trim on its January lofty price guide of $12m.

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The lounge and dining room featured Florence Broadhurst wallpaper. She had lived around the corner.

The home had beautiful harbour views over Double Bay and Seven Shillings Beach.

But it’s believed to be not far off its most recent guide of $10.8m.

Tuesday’s sale is one of a string of recent sales of slow-movers.

“An eastern suburbs family has bought it,” was all Dunn was permitted to say.

It follows Dunn’s sale on July 24 of investment banker Paul Espie and his wife, Ros’s gothic mansion Callooa at 5 Bennett Ave, Darling Point.

The five-bedroom, five-bathroom home was originally listed two years ago with hopes of $27m, but its most recent guide had been $25m.

It’s understood the buyer, Jason Huljich — joint CEO of fund manager Centuria Capital Group — paid pretty close to that.

No. 21A Nelson St, Woollahra originally had lofty vendor expectations of $8.25m in January.

It sold this week for close to its most recent $5.5m guide.

Another home to have sold after a long time on the market is “Maroomba’ at 21A Nelson St, Woollahra.

The four-bedroom, three-bathroom Victorian residence built over three levels is owned by the chief executive of Colonial Leisure Group, Brett Sergeant, and his wife, Iris, according to property records.

It was first listed pre-COVID-19 in early March with $8.25m price hopes in an expressions of interest campaign.

But its understood there was growing interest after the guide was revised to $5.5m after its August 11 auction and it sold close to that through Brad Pillinger of Pillinger.

So that was seven months on the market — but vendor expectations were evidently too high at the start.

No. 98 Victoria Rd, Bellevue Hill had resort-like features and sold for more than $21m.

That makes the four months that it took LJ Hooker Double Bay’s Bill Malouf to sell former Sleeping Giant owner Fred Bart Bellevue Hill Art Deco mansion for more than $21m seem like a blink of an eye.

The six-bedroom mansion with pool and tennis court on a 2415 sqm block at 98 Victoria Road appeared as the Wentworth Courier House of the Week at the start of April and it was sold in mid July to property developer Willi Phillips.

It sold within its original price expectations of between $21 million the mid $20s.

Other slow movers were retired car dealer Laurie Sutton’s Darling Point mansion listed more than a year ago for $35m — that sold for $32m in March — and the Berthong waterfront in Elizabeth Bay that sold for $33m after being listed for $35m four years ago.

The grand dining room in the Art Deco mansion.

Those two sales were linked: Sutton was the buyer of Berthong, with his Double Bay agent, Alison Coopes, negotiating with the listing agent for Berthong, Ken Jacobs of Christies.

The Vaucluse waterfront of Nicholas Vass and his wife, Marion, at 31 Coolong Road — negotiated by Peter Anderson of Christies — also took a while to sell.

It was listed with $55m price hopes last October, finally selling for $34m to stockbroker Robert Fiani a few weeks ago.

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Historic hay shed turned house up for grabs

31 Paterson St, Hinton goes under the hammer soon.

It’s country Australia’s answer to the trendy inner city warehouse conversion – the rural farm shed turned into a chic residential home.

The former hay shed from the 1880s that’s been turned into a house will go under the hammer Saturday in what will be one of the more unusual homes going to auction this weekend.

The home roughly 30 minutes’ drive north of Newcastle features heritage ironbark timber, exposed steel beams and a polished concrete floor.

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The structure itself includes over 20 tonnes of steel framing and five tonnes of timber, along with 10 inches of reinforced concrete.

The shed dates back to the 1880s.

Its history as a farm shed is apparent in the living areas which have retained the open setting normally associated with a barn.

Known as ‘Vintage Steel’ the property on Paterson St in Hinton has a custom wood heater that could double up as large pizza oven, according to the listing.

Selling agent Scott Hunter of Ray White-Dungog said the property has been attracting a steady stream of visitors since it was listed for sale.

The home has attracted a mix of buyers.

“We’ve been inundated with inquiries, actually,” Mr Hunter said, adding there were more than 80 groups through the first open home.

The buyer interest was from a mix of owner occupiers and business types interested in using the premises as a cafe, restaurant and other hospitality businesses, he said. The property is nearby a range of vintage and artisan stores.

Price expectations were around the $1m mark, Mr Hunter added.

There are six bedrooms.

Price expectations are near the $1m mark.

Also on the property is a workshop, car hoist, garden shed and fully landscaped gardens, along with a 15,000 litre rain water tank.

Inside, the kitchen is decked out with industrial style fittings. There is also an internal clothes drying room. The interior is kept cool with multiple airconditioning units.

The property is one of close to 900 properties going under the hammer across NSW this weekend – with about 680 of the auctions in Sydney.

Airconditioning is included.

Sydney recorded a weekend auction clearance rate of 68.1 per over August, which was marginally higher than the 65 per cent reported over July, My Housing Market analysis showed.

Clearance rates increased over the final two weekends of August to over 70 per cent, indicating rising pre-spring buyer momentum.

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Former cricketer Scott Muller lands a high-scoring upgrade

Cricketer Scott Muller bowling.
Cricket - Qld vs Tas first day of Sheffield Shield match at the Gabba. a/ct

Cricketer Scott Muller in his heyday at the Gabba.

Former Australian cricket fast bowler Scott Muller has sold his waterfront home for close to $700,000 more than he paid for it six years ago.

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8 Kilkenny Court Bundall, sold for $1.44m.

Mr Muller modernised the property substantially.

CoreLogic data shows Mr Muller landed $1.44 million for the property in Bundall on the Gold Coast.

He paid $749,000 in 2014, according to the data showed, but has carried out a substantial renovation since.

Listings show that in 2014, he bought an “entry level” waterfront property with three bedrooms, which also had a floating pontoon.

It was marketed at the time as a property to which you could “add value for future capital gain”, and gain he has.

The lucrative renovation turned it into a five-bedroom home with two bathrooms, a chef’s kitchen, and multiple living zones.

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Mid-century marvel in prime Griffith location

No. 26 Jansz Crescent, Griffith is up for sale.

You’d be forgiven for thinking you’d stepped into a 1960s time warp when visiting this mid-century Griffith abode.

And selling agent Leanne Palmer is pulling out all stops to ensure prospective buyers walk into a home reminiscent of the swinging 60s in every way possible.

“I’ve been finetuning my open for inspection playlist and there’s a whole lot of Aretha Franklin and Beatles classics on it,” said Ms Palmer, from Belle Property – Kingston.

“I’m going to have the 1960s vibe playing in the background for all the opens.”

Set on a landholding of 1106sqm, the four-bedroom property at 26 Jansz Crescent still pays homage to the home’s vintage almost 60 years after it was first built.

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On a landholding of 1106sqm.

Interior decor has been styled to meet the era, complimenting existing built-in timber cabinetry, the original kitchen and kitsch stone fireplace mantle with a gas heater.

There is also a separate study/library space with custom hardwood shelving in tune with the home’s origins.

“It was a privately built house in 1961 and I sold it two years ago to the current vendors and that sale was the first-ever sale. The family had it from 1961 until 2018,” Ms Palmer said.

Outside there are mature fruit trees and berry vines, as well as a single garage with internal access, an adjoining laundry and workshop, store room and hobby room.

Ms Palmer said the property had appeal for both mid-century enthusiasts, keen to restore the unique property, and those with a vision for a potential knockdown-rebuild.

The dated kitchen.

“There’s two possible buyers for this – there’s the buyer who wants the location. The location is superb. Jansz Crescent is a wonderful street – nice, quiet and tree-lined,” she said.

“It’s an 1100sqm block with the reserve at the back and Canberra Grammar across the road from the reserve.

“But it’s bang in the pocket of a really good location so the property would lend itself beautifully to a redevelopment. It could be a knockdown-rebuild of a magnificent home with views to Red Hill out the back.

It goes to auction on September 19.

“On the other hand, the buyer could be someone who really loves the ‘60s and the mid-century vibe of the house and restores it. There’s good bones and it’s structurally sound, it just needs some cosmetic decoration or restoration to bring it back to that sexy 1960s house that it used to be.”

She said the property would go to auction on 19 September at 10am.

“I don’t think it’s any secret that it last traded for $1.641 million so we would be expecting well in excess of that this time around,” she said.

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Mount Martha house with views like ‘Mediterranean hotel’

Have it all.

Not being able to jet off overseas for the foreseeable future will sting a lot less for whoever buys this private resort on the Mornington Peninsula.

A tennis court, infinity pool, spa, gym, home cinema, a hotel-style bedroom suite and multiple terraces offering spectacular bay views are all part of the package at 64 Bradford Road, Mount Martha.

“It would be a great place to be in lockdown,” Kay & Burton Flinders agent Meg Pell said.

“There are not a lot of reasons not to leave.”

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The contemporary tri-level home on a sprawling 2063sq m block hit the market shortly after Melbourne’s stage four lockdown kicked in, with a $5.5-$5.95m price guide.

“We took the photos the day before stage four, and the owner decided (to list it as) people might have time to look online, which I thought was brave,” Ms Pell said.

Turns out the owner was right, with the property accruing more than 14,600 views on realestate.com.au so far, plus a queue of would-be buyers keen to tour the property when physical inspections are allowed again.

“I‘ve had so many inquiries,” Ms Pell said.

The vast majority had come from Melbourne-based househunters who had been spurred on by the COVID-19 crisis to shift somewhere with “space, fresh air and a nice lifestyle”.

“People have realised they can work from home,” she said.

Striking and sophisticated modern design.

It doesn’t get much better.

All the angles.

“You’re only an hour from Melbourne here, so if you have to go into the office two days per week, you can. It’s the best of both worlds.”

Kay & Burton marketing for the house states that it “seemingly floats above a vista of panoramic bay views, from the Safety Beach shoreline to The Heads”, and “cascades down the block to showcase the spectacular vista” from all three levels that are connected by a lift.

The residence was designed by the award-winning Venn Architects to feature multiple living rooms, including a refined library and a Gold Class-style cinema.

Luxe touch.

High perch.

Breakfast with a view.

The kitchen stands out with granite benchtops, a Falcon dual oven, a butler’s pantry and a suite of Miele appliances including a coffee machine and dual refrigerator.

The main bedroom occupies the entire top level and offers a stone ensuite with a freestanding bath, an integrated TV, a walk-in wardrobe and a balcony boasting “breathtaking views that make you feel like you’re waking up in a Mediterranean hotel”.

A six-car garage and coveted location near Mount Martha’s village and beaches complete the package.

Mount Martha or the Mediterranean?

Glory days.

There really isn’t much reason to leave.

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samantha.landy@news.com.au

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Dollywood, Daylesford: Ex-AFL player’s California-inspired boutique holiday home for sale

82 Central Springs Road, Daylesford, also known as Dollywood, is lighting up the market.

Taking cues from the mecca of modernism, this vibrant home brings cool Californian style to Daylesford.

The property — known as Dollywood — is the short-term rental and holiday home of ex-AFL player Marcus Baldwin and his wife Eloise Fox.

The pair purchased the 1940s modernist property in 2016 after it had been renovated by a master builder and set out to transform it into a boutique holiday home inspired by their travels throughout California.

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The property is on the market with an $825,000 price tag.

The interiors are inspired by the couple’s travels throughout California.

The hip home hit the market this week and is already rumoured to be on the radar of a high-profile name in the fashion and entertainment industry.

The house and land at 82 Central Spring Road is on the market with a $825,000 price guide.

The buyers are able to negotiate the Dollywood brand and furnishings with the owners after the sale, if interested.

This could include funky neon signage, artworks from renowned artists, a record player, vintage bikes and other luxury inclusions that add to the success of the accommodation, which reaps in a very healthy income.

The house and land is being sold separately, with the chance to buy the Dollywood brand after the sale.

The boutique accommodation is booked 48 weeks of the year.

Baldwin was drafted to Hawthorn in 1997, made his debut late in the 2000 season for Geelong and later kitted up for Williamstown in the VFL.

He said they planned to buy a beach house in 2016, but instead stumbled upon the spa town.

“Besides the obvious of being a beautiful place with lots to do and close proximity to Melbourne, initially we did a lot of research into all the Victorian holiday locations and found Daylesford was one of the strongest holiday rental markets in Australia as it books all year round, winter and summer,” he said.

“Unlike a beach location that will only book out in summer — and when you want to use it.

“We also knew that a lot of the rental houses available in the area had a more traditional, country style vibe and we wanted to do something completely different from a styling point of view.”

01/08/2000.   Geelong training at Shell Stadium. Geelong's Marcus Baldwin kicked three goals with three kicks in his first game.
/football

Baldwin made his AFL debut for Geelong in 2000.

Dads and prams

Marcus and Eloise with their daughter Dolly, who the property is named after, in 2015. Picture: David Crosling

Baldwin said the home’s name wasn’t inspired by glammed-up singer-songwriter Dolly Parton, instead named after the pair’s daughter, Dolly, and their visit to Hollywood.

“It has been on the holiday rental market for four years and it has just been crazy, we have bookings 48 weeks out of 52,” he said.

“We are looking to do another project.

“The initial plan was (to own Dollywood for) five years, but with COVID-19, the country (property market) has gone crazy as everyone wants to buy up there, so we felt it was the best time to sell.”

The couple are selling to move onto a new project.

Ms Fox designed the interiors to bring a touch of California to the “little town of Daylesford”.

“I wanted the interiors to speak to the architecture of the house but also provide functionality for guests staying so they could completely unwind and enjoy the space,” she said.

“I sourced furnishings from premium Australian companies such as Pop and Scott, Halcyon Lake, Dowel Jones, Jardan and many more.

“As well as having the backdrop of Daylesford’s beautiful surroundings, we wanted the interior of Dollywood to be as visually stimulating as its views. Dollywood’s walls are filled with pieces of art from artists such as Dina Broadhurst, Stephen Baker, Spencer Shakespeare amongst numerous others.”

A midweek two-night stay at Dollywood starts from $675.

Belle Property Daylesford agent Nathan Skewes said there had been a mix of interest from those looking to use it as a short-term accommodation investment property, and others wanting to buy it as a permanent home.

“A lot of Melbourne purchasers are looking to make the move to the country as they can now work from home and just go into the city a few days a week,” he said.

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Melbourne man accused of paying Malaysian government officials $4.75 million in bribes

Generic images of Australian Federal Police, Baggage Handlers ? & customs officers at Sydney International Airport after 8 were arrested over a drug importation ring was busted.

A Melbourne man has had about $1.6 million in assets restrained by the AFP after allegedly paying $4.75 million in bribes to Malaysian government officials. Picture: Supplied

A Victorian man accused of bribing Malaysian officials has had about $1.6 million in assets restrained by the Australian Federal Police (AFP).

The 68-year-old man is said to have paid $4.75 million in bribes to Malaysian government officials in exchange for purchasing his property developments in Melbourne.

He was charged with foreign bribery and false accounting offences in July this year. However, the AFP began its investigation in February 2015.

According to the AFP, the man acquired three properties around a university campus in Caulfield East, in Melbourne’s southeast, and developed them into student hostels through his associated companies.

Following its development in 2013, the hostel was sold to a Malaysian government-owned entity for $22,600,000. The AFP say the purchase price was inflated from $17,850,000.

As of August this year, the AFP have restrained property totalling about $1.6 million after it attained restraining orders for two real estate properties in Victoria owned by the accused’s wife and a company she is the sole director of.

Bank accounts held by the woman and her husband’s associated companies were also restrained.

In the past financial year, the AFP-led Criminal Assets Confiscation Taskforce restrained criminal assets in excess of $250 million.

AFP Financial Crime commander Paul Osborne said the organisation was determined to investigate, prosecute and confiscate the assets of those Australians who bribe foreign officials.

“The AFP will continue to work collaboratively with international law-enforcement partners to discover, disrupt, investigate and prosecute foreign bribery and to restrain and confiscate their assets,” he said.

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Melbourne developments evolve for work from home demand

The Woodlea estate town square in Rockbank - for herald sun real estate

The Woodlea estate town square in Rockbank will feature co-working spaces.

A Melbourne developer has discovered barely a quarter of its residents intend to return to the office full time after COVID-19.

And they’re not the only developer seeing signs our homes and local neighbourhoods will become a major part of our future work life.

A survey of more than 400 residents at the Woodlea estate in Rockbank found 43 per cent did not work from home before coronavirus.

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But only 27 per cent indicated they planned to return to their workplace full time post-pandemic.

Almost one in five intended to work from home three days a week.

Project director Matthew Dean said the figures had motivated a decision to include a co-working space at the estate’s town centre.

Woodlea Estate by VIP and Mirvac in Rockbank

Woodlea Estate by VIP and Mirvac in Rockbank will have green spaces built within 200m of homes as a result of higher community demand during the COVID-19 pandemic.

“It’s opened everyone’s eyes about what you can actually do from home, and people are realising that the travel time is a time waster,” Mr Dean said.

The development, headed by Mirvac and Victorian Investments and Properties, is also moving to increase resident proximity to parks, and the number of green spaces from one within 400m of every home to one within 200m. This follows an increase in people wanting to spend more time outdoors.

The Inkerman and Nelson by ICON Developments headed to Balaclava will feature a mix of two and three-storey townhouses across six buildings (1)

The Inkerman and Nelson by ICON Developments has seen high demand for home offices.

ICON Developments also reported 78 per cent of the townhouses at its Inkerman & Nelson project (right) were now being designed to integrate a home office space, be it a built-in desk or converting a room into a dedicated study.

The Balaclava development still has a handful of two- and three-storey homes available, priced from $1.285-$1.595m via Eisen Property.

Buyer Simon Vallegra said he had asked for a home office to be included in his future home to suit his wife’s fashion-design work, and expectations he would work from home with greater regularity.

“The future is that it won’t matter where you are or the hours you work, it will be about the output,” Mr Vallegra said.

The Inkerman and Nelson by ICON Developments headed to Balaclava will feature a mix of two and three-storey townhouses across six buildings (1)

If not a full study, many buyers are opting to have a built-in desk included in the homes.

Castran Gilbert director Michael Lang said his project marketing firm was already discussing a range of work-from-home changes to apartment living with developers.

“So you will see more of what we are calling ‘Zoom rooms’, (with) an area for a computer and desk, as opposed to your straight one- or two-bedroom homes,” Mr Lang said.

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Best suburbs to invest in Melbourne 2020

If you’re looking to invest in property, there are several things you’ll need to take into account: the cost, the rental yield, and the likelihood that your property continues to increase in value over time.

Melbourne property is highly sought after – but what kind of return on your investment can you expect from purchasing there? And what were the best suburbs to invest in Melbourne in 2020?

Using the latest data from realestate.com.au, we’ve compiled a list of this year’s 10 best suburbs to invest in Melbourne, based on the yearly median sale price, the year-on-year change in the median sale price, and the average rental yield for properties in these suburbs.

1: Tyabb, Average Rental Yield of 3.98%

Tyabb is Melbourne’s best suburb to invest, with a median sale price of $892,500 and is also the cheapest on the list of top ten.

55 kilometres south of the CBD on the Mornington Peninsula, Tyabb’s year-on-year change in the median sale price is 47% and the yearly rental yield is 3.98%.

Tyabb

Picture: realestate.com.au

2: Collingwood, Average Rental Yield of 3.4%

Following Tyabb is the eclectic inner-city suburb of Collingwood.

Collingwood costs a pretty penny to invest in, with a median sale price of $1,140,000. The year-on-year change in sale price sits at 30%, while the rental yield is 3.40%.

Collingwood

The inner-city ‘burb of Collingwood is perfect for those that love warehouse-style homes. Picture: realestate.com.au

3: Hughesdale, Average Rental Yield of 2.46%

15 kilometres southeast of the CBD is Hughesdale, the third-best suburb to invest in Melbourne. With a median sale price of $1,362,000, Derrimut is the fifth-most expensive suburb to invest in our list.

Hughesdale has a year-on-year change in the median sale price of 28% and a rental yield of 2.46%.

Hughesdale

Leafy Hughesdale is next to the popular shopping hotspot, Chadstone. Picture: realestate.com.au

4: Box Hill South, Average Rental Yield of 2.38%

Box Hill South comes in next, 15 kilometres east of the CBD.

Box Hill South has a median yearly sale price of $1,281,444, that’s a change of 28%. The rental yield is a positive 2.38%.

Box Hill South

Family-friendly Box Hill South is located in Melbourne’s east. Picture: realestate.com.au

5: Kensington, Average Rental Yield of 3.03%

Situated much closer to the city is Kensington, just 4 kilometres north-west of the city.

Kensington has a median sale price of $1,121,000 and a change in the median sale price of 25%%. The rental yield sits at 3.03%.

Kensington

Located just 4km from the CBD is Kensington. Picture: realestate.com.au

6: Heidelberg, Average Rental Yield of 2.58%

Next is Heidelberg, 13 kilometres north-east of the city. Heidelberg has a median sale price of $1,269,900 and a yearly change in the sale price of 23%%.

The rental yield of Heidelberg also comes in at sixth-place at 2.58%.

Heidelberg

Heidelberg is in Melbourne’s northeast. Picture: realestate.com.au

7: Aberfeldie, Average Rental Yield of 2.30%

Aberfeldie comes in eighth, situated on in the north-west just 9 kilometres of the city along the banks of the Maribyrnong River.

It has a costly median sale price of $1,657,500 and a year-on-year change in the sale price of 23%%. The rental yield here is slightly lower than Heidelberg, at 2.30%%.

Aberfeldie

Aberfeldie is a suburb that sits on the banks of the Maribyrnong River. Picture: realestate.com.au

8: Murrumbeena, Average Rental Yield of 2.51%

Coming in eighth in the south-eastern suburbs of Melbourne is Murrumbeena, in  rental yield of 2.51%.

The median sale price here is $1,410,500, while the year-on-year change in the median sale price is 22%%.

Murrumbeena

In Melbourne’s South East sits Murrumbeena. Picture: realestate.com.au

9: Park Orchards, Average Rental Yield of 2.86%

Park Orchards is the ninth-best suburb to invest in Melbourne.

The yearly median sale price here is $1,835,000, with a year-on-year change of 22%%. The rental yield comes in at a promising 2.86%.

Park Orchards

Around 25km from Melbourne’s CBD sits leafy Park Orchards. Picture: realestate.com.au

10: Mont Albert North, Average Rental Yield of 2.22%

Rounding out the top ten for Melbourne’s best suburb to invest in is Mont Albert North, located around 14 kilometres east of Melbourne city centre. The median sale price for the past 12 months is $1525,000, and the year-on-year change in the median sale price is a notable 21%.

On top of that, the average rental yield is 2.22%. While not the highest rental yield in the top ten, Mont Albert North is the second on list in terms of change in median sale price.

Mont Albert North

Located around 14km from Melbourne’s CBD is Mont Albert North. Picture: realestate.com.au

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How to buy well: the key things unit purchasers must consider during the pandemic

Spring home sellers

Cindy Huang and Robert Yin, with daughter Isabel, 4, outside their Lane Cove North townhouse. Picture: Justin Lloyd

Homebuyers on the hunt for an apartment this spring have been urged to be selective in what they buy and not just focus on price.

The inner city unit market is among the weaker performing areas in Sydney and, despite this increasing the likelihood of getting a bargain, it has also meant property selection remains critical, housing experts said.

My Housing Market economist Andrew Wilson said the worst affected properties during the pandemic were “investor stock” – units usually aimed at the landlord market.

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Prices for these properties were being slashed because landlords were struggling to tenant them while international travel remained restricted, he said. Most of the properties were usually rented out by international students, travellers or hospitality workers.

“That weakness in the inner city unit market will probably continue until international travel is allowed to resume,” Mr Wilson said.

Buyer’s agent Michelle May said due diligence was particularly important for unit buyers as there were often more factors to consider than with houses.

She recommended starting with the strata report. “You need to know the building was constructed properly and has no building defects but also run effectively with an engaged strata committee,” she said.

Older apartments were often a safer bet, she added. “I recommend buying only something that is at least five years old as the building will have had time to settle,” Ms May said.

Checking building compliance was another vital step in the due diligence process given recent construction disasters such as cladding issues in the Grenfell Tower in London, which burnt down.

“You need contract reviews and development application checks but you also need to ensure the building is on the cladding register,” Ms May said.

Buying in a larger building often means higher strata fees.

Other things to consider were the location and aspect – factors that, unlike the features and fittings in a property, couldn’t be changed.

The ideal aspect was north or east facing, while quieter roads made better locations. “Don’t buy on yellow roads,” Ms May said. “A yellow road on Google Maps indicates higher volumes of traffic.

“Properties on main roads are also the first to drop in price when the market turns (and) from a practical point of view, you want to be able to open your windows and not get noise and car fumes.”

Units in lower density suburbs with good transport links tended to hold their value better as there were fewer opportunities for larger developers. There was also more underlying demand in these areas, which meant the capital growth potential was often greater.

Smaller buildings had a key advantage in that single votes on the strata committee counted for more.

$70,000 discount: this unit on Pyrmont St in Pyrmont was $900,000, now it’s $830,000.

Large apartment buildings with amenities like gyms needed to be considered with caution, she added. The extra facilities tended to be expensive and were only worth it for those who were confident they would use them regularly.

Buildings with a high proportion of owner occupiers were also better than those with mostly landlords.

And quality trumped quantity. “You’re better off going for a good-sized one-bedder than a tiny two-bedder but I always recommend to my clients to buy with the future in mind. … many young couples who buy apartments need to make sure they have that extra space for when they decide to start a family. A second bedroom is going to make a world of difference. Buy for at least a five-year life plan.”

TOWNHOUSE BOUGHT EXTRA WELL

Most homeowners have some gripe with their properties – maybe a room that gets little sun or the parking is too narrow – but Rob Yin and Cindy Huang have a more unusual problem.

The couple say their three-bedroom townhouse in Lane Cove North was purchased so well they have struggled to leave. They had been deliberating selling for years to move to a house but kept putting it off because they didn’t think they would find a better home.

Spring home sellers

The Yin family said their townhouse ticked all the boxes.

“I grew up in a house with a backyard so I wanted that for our children, but we’ve never been motivated because the townhouse ticks every box,” Mr Yin said.

The family eventually decided if they didn’t list now they would find it even harder to part with the property down the line when they outgrew it.

“Its north facing and on a cul-de-sac which is full of kids on Sundays … it’s been perfect for us,” Mr Yin said.

Their property at 11 Sawyer Cres goes to auction September 26 with Belle Property-Lane Cove agent Patrick Lang.

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