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Aerial view of Bentley Park housing and home construction. PICTURE: BRENDAN RADKE

A leading real estate researcher is predicting as many as 30,000 people will flee Melbourne over next two years due to the extended coronavirus lockdown, but a Far North agent says they’re already here.

Propertyology researcher Simon Pressley said the mass exodus would mark one of the biggest ever swings in internal migration in an Australian city.

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“Whether they relocate to a Victorian regional location, such as Bendigo, Wodonga, the Great Ocean Road region, or … completely leave the state, thousands of Melburnians will take action to regain their ­freedom,” he said.

“People are also starting to understand (COVID-19) is going to be with us for years, and where there’s greater density, there’s greater risk. We know there are people who’ve already left Melbourne.”

Melburnians are reportedly buying one-way tickets to Cairns with the intention of buying property in the Far North. Picture: NCA NewsWire / Bianca De Marchi

Cairns’ Marsh Property principal Chris Marsh said some of those residents who had left Melbourne were already in the Far North.

“We’ve spoken to Victorians that have managed to come up here just after the borders closed, with the intention of holidaying and buying property,” Mr Marsh said.

“They’ve gone into hotel isolation, paid a better part of $1000 for a one-way flight.

“And they’ve said ‘to hell with Melbourne, we’re not going back. I’ve already rung the removalist to pack up my house, we’re buying something up here, we’re living up here’.”

Mr Marsh said he had about 12 “very serious” Victorian buyers, with two sales to Melburnians already since July, and his agency had reported a 40 per cent increase in interest from southern investors since September last year.

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“The Victorians do tend to be interested in the more “holiday suburbs” – Palm Cove and Trinity,” he said.

“Most of those comments have been on Palm Cove apartments. They’re apartments that have been holiday-let but they can be resided in as well and we’re seeing mostly people that are semi-retired.”

Mr Marsh the said the Far North was becoming a desirable location for more than just Victorians, after he recently sold three houses sight unseen to a New South Wales couple.

“They’re a couple from Sydney and they don’t plan on moving up for a couple of years, but the Far North is in demand and they’re just forward planning.”

arun.singhmann@news.com.au

The post Melburnians invading the Far Northern property market appeared first on realestate.com.au.

Jimmy and Tam’s hopes of a fifth straight victory were flushed away by their exhibitionist ensuite.

After winning every single room reveal and challenge since the series began, the couple’s controversial decision to rejig their architect’s plans to position their walk-in-wardrobe behind the bathroom was poo-pooed by judges Shaynna Blaze, Neale Whitaker and Darren Palmer.

Why?

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Well, as put crassly by host Scott Cam: “If I was doing a Henry the Third and my wife wanted to get ready for work, she’d have to walk through the bathroom to get dressed.”

Now there’s an image that’ll be hard to shake.

Scott Cam doesn’t plan to do a Henry the Third anywhere near Jimmy and Tam’s walk in robe.

Shaynna said the poorly positioned and undersized wardrobe was a “disaster” and urged the couple to tear it out and start again.

It’s lucky for the other teams that Jimmy and Tash created such a woeful wardrobe because Darren had described their lemon-hued bedroom one of the most impressive he’d ever seen, even making him rethink his hatred for cream brickwork.

The judges inspect Jimmy and Tam’s disastrous wardrobe.

With the favourites out of the running it became a close-run race between three of the four remaining couples.

Only George and Sarah failed to keep pace with the other three teams, with the judges put off by their loud wallpaper and underwhelming wardrobe.

The only part of the Sydneysiders room that the judges liked was that salvaged ceiling rose which George lovingly nicknamed “Ceiling Dion” after the Canadian songbird known for hitting high notes.

Sarah and George’s master bedroom had an underwhelming walk in robe, but a showstopping ceiling rose.

But the father and daughter duo Harry and Tash — after a week from hell — edged out the competition with their humungous master bedroom, winning the $10,000 prizemoney by half a point.

The judges loved their green feature wall and impressively high sky-lit ceilings. They reserved their only criticism for the walk-in-wardrobe which they said was “style over substance” because of the way the hanging space had been configured.

It would be hard to argue that Harry and Tash didn’t deserve this victory. They threw everything they had at the epic challenge of renovating a space almost double the size of their rivals.

Harry and Tash’s get their first win thanks to their super-sized master bedroom and walk in robe.

Making matters worse, a rundown Tash was forced to self-isolate in the guest bedroom for a day amid growing fears she may have contracted Covid – remembering that these episodes were shot before Melbourne was plunged into the first lockdown and it was still pretty much business as usual across the state.

It could not have come at a worse time as she and dad Harry were already well and truly behind everyone else and had pulled out all the stops (not to mention the Hipages lever) to get that bedroom finished by deadline.

Harry and Tash finally get some cash

With hapless Harry facing the prospect of having to do hours and hours of painting to cover the metres and metres of bedroom, without Tash to help him, he got just what every man on the edge needs — a visit from foreman Dan to point out just how much he still had to do.

Only on this occasion Dan didn’t just stand around looking concerned while lecturing Harry about his shoddy workmanship and poor planning, he actually lent a hand, picking up some supplies (from one of the show’s many sponsors, Mitre 10).

Daniel and Jade tied for second.

In the race against time, Harry put his foot in it — twice. Clambering over the wardrobes to finish painting patches of ceiling, he managed to put a leg through the top of one. That was just before he managed to tear the ligaments in his ankle racing to the car to get supplies as the final hour ticked away to reveal time.

Equal second place getters Luke and Jasmin’s master bedroom and walk in robe.

He powered through the pain, bless him, and turned up to judging — barefoot, bruised and bandaged.

At least he left with a spring in his limp and some all-important cash in the bank thanks to that long-awaited victory!

Final scores:

1 – Harry and Tash: 25.5

2 – Luke and Jasmin: 25

2 – Daniel and Jade: 25

3 – Sarah and George: 23

4 – Jimmy and Tam: 21.5

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Episode 8 recap: Judges pull no punches on grieving Daniel and Jade

Episode 6-7 recap: Sack your builder: Keith slams ‘pathetic’ work

Episode 4 recap: Luke and Jasmin’s big stuff up

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

The post The Block 2020 episode 12 recap: Jimmy and Tam’s winning streak comes to a screaming halt appeared first on realestate.com.au.

29 Monash Ave, Underbool, has changed hands in a cash sale.

A house south of Mildura that went viral after being listed for the price of a luxury car has sold in a cheap-as-chips cash deal.

The three-bedroom house in Underbool, renowned as “the gateway to the Pink Lakes”, fetched $63,500 after accruing more than 20,000 views on realestate.com.au to be one of the site’s most popular listings in recent weeks. This was slightly above its $60,000 asking price.

Burns & Co Mildura agent Ian Miers said the substantial 1244sq m property at 29 Monash Ave attracted about eight offers before its sale to a buyer from Cann River in East Gippsland.

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A buyer from East Gippsland picked up 29 Monash Ave, Underbool.

The house, featuring an old slow-combustion stove worth thousands, attracted more than 20,000 views online.

“Fortunately he didn’t lose his house in the fires (earlier this year), but he wanted a second property in case that sort of thing happened again,” Mr Miers said.

“He’s also got friends in South Australia, just over the border not far from Underbool, so he’d like to live here a couple of months a year.

“It’s a good place to live, the Pink Lakes are quite an attraction.”

Underbool wasn’t the only Mildura-fringe town proving popular with out-of-town buyers, Mr Miers said.

5 Cregan Street, Walpeup, is now catching the attention of buyers.

Inside 5 Cregan Street, Walpeup.

He reported being “flooded with inquiries” for a five-bedroom house on 2000sq m of land at 5 Cregan Street, Walpeup, which had been listed for $95,000.

Not only did it offer an affordable asking price, but the property had a solar system that would allow whoever bought it to save on their power bill.

“We’ve got plenty of sun up here,” Mr Miers said.

Buyers were also “swarming all over” a three-bedroom weatherboard asking $75,950 at 7 Main Street, Speed.

Mr Miers said he was finding he couldn’t “get enough properties on the market” at the moment, with Melburnians increasingly forming part of the buyer pool for homes in the state’s northwest.

7 Main Street, Speed, is up for grabs for $75,950.

20 Fuller Street, Ouyen, recently sold for $73,500.

“Everyone wants to escape,” he said.

“The last three properties I sold in Ouyen were to buyers from Ringwood East, Hastings and San Remo, all Melbourne, and they were all going to be owner-occupiers.

“(One of the buyers) made it perfectly clear to me (COVID-19) is the reason he’s leaving, as he can now work from home more.”

A Melbourne-based buyer snared 20 Gregory Street, Ouyen, for $90,000.

One of those homes, at 20 Fuller Street, sold for $73,500 and another, at 20 Gregory Street, for $90,000.

Mr Miers also recently transacted a couple of Ouyen shops for $85,000 in another cash deal.

But these sales aren’t even as affordable as it gets, with the agent also inking several sales for $40,000-$46,500 across Ouyen and Murryville.

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samantha.landy@news.com.au

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The post Underbool, Ouyen, Walpeup: buyers swarm bargain homes near Mildura appeared first on realestate.com.au.

The renovated result at 88 Clear Island Road, Broadbeach Waters. Photographer: Kristian Van Der Beek. Suppled: realestate.com.au

A dramatic makeover has redefined renovation goals on the Gold Coast.

In the space of a year, an original yet solid house has been transformed into a refined modern coastal residence, listed for offers over $3 million.

Architect Joe Snell was a judge on House Rules for four seasons.

The project was led by Havendeen Constructions, who engaged architect Joe Snell, of Studio Snell, to come up with a showstopping design.

A former judge on Seven Network’s House Rules, Mr Snell designed a stunning new build for Guy and Jules Sebastian in Sydney before quietly slipping into Queensland with his family last year.

Having settled temporarily in Southport, the mammoth makeover at 88 Clear Island Road is Mr Snell’s first complete concept to market project on the Glitter Strip.

BEFORE: The original dining and lounge zones.

AFTER: The renovated lounge and kitchen areas. Photographer: Kristian Van Der Beek. Suppled: realestate.com.au

The design, build and finishes have not gone unnoticed – an expat couple signed a contract as the house hit the market last week.

“I don’t think people were expecting such a transformation,” said Mr Snell, whose design set out to capitalise on the location for resale.

“A lot of people have been comparing it to a new build. It was already a big, solid house so there was plenty worth saving there.”

BEFORE: 88 Clear Island Road, Broadbeach Waters before renovation in 2019.

AFTER: The renovated residence as viewed from the water. Photographer: Kristian Van Der Beek. Suppled: realestate.com.au

Expansive black framed windows and doors open up the rear of the house to sky, sunlight, water and city views.

Vertical voids further enhance the indoor-outdoor feel while a ‘garden room’ opens to the front yard, directing interest beyond the canal.

A custom-made staircase is a hero moment in the centre of the house; a mobile crane was used to lift the 1.1 tonne steel frame into place.

AFTER: The custom made stair case is a visual feature. Photographer: Kristian Van Der Beek. Suppled: realestate.com.au

In a nod to a burgeoning remote workforce, the office is accessible from the street.

“There are a lot of people coming from down south to the Gold Coast who have decided they can work from home. We wanted to appeal to that market,” Mr Snell said.

Mr Snell worked closely with Gold Coast design consultant Tui McKinnon, whose selection of high end fixtures and finishes put a refined spin on the modern coastal aesthetic.

Ms McKinnon chose extra large format Brazilian tiles to enhance the sense of space throughout, while Smeg kitchen appliances, Reece tap ware and flawless trade finishes complete the quality build.

BEFORE: The original kitchen, prior to renovation.

AFTER: The newly renovated kitchen. Photographer: Kristian Van Der Beek

With the Gold Coast emerging as a safe haven during the COVID crisis, Mr Snell said an influx of new residents created an exciting opportunity to develop architecture in the city.

“The Gold Coast has enormous opportunity to lead and I’d like to be part of that,” he said.

“One of the things I’ve struggled with on the Gold Coast is that so many houses feel like they could be anywhere. They’re just big boxes that have been plonked down with a little bit of fenestration on the front and everyone’s saying that’s good enough.

“Both new residents coming to town and knowledgeable locals are demanding more.”

AFTER: The ‘garden room’ opens onto the front court yard. Photographer: Kristian Van Der Beek. Suppled: realestate.com.au

John Reid Real Estate – Broadbeach Waters agent Kurt Reid said the property had attracted phenomenal interest, locally and interstate.

“I think buyers have been waiting for something this exciting to hit the market,”
he said.

“People create homes of this standard for themselves, but they rarely renovate to this standard for resale.”

The post House Rules architect raises the renovation bar appeared first on realestate.com.au.

Sometimes you need a specialist.

Aussies love a little DIY, there’s no doubt about it. The sense of satisfaction gained from successfully completing a project on your own goes a long way.

But before you start ripping things out and firing up the power tools, make sure you are properly skilled to carry out the task. A botched job won’t just end in wounded pride, it could be dangerous and cost you double the price to fix.

Australians spend $3.53b a year to fix DIY jobs that have gone pear-shaped, according to research from Hipages — an online platform that connects consumers with tradies.

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Hipages chief customer officer Stuart Tucker said people were largely motivated to DIY to save money, but also to play a hands-on role in shaping the look of their home.

“We’re all very house proud,” he said. “However, a lack of knowledge about DIY projects is proving to be costly across the country.”

The research also found one in five homeowners said they had attempted a home repair or renovation that went wrong and required a qualified tradesperson to fix or re-do the job.

“It’s unsurprising that in the current economic climate, homeowners are searching for ways to save money,” Mr Tucker said. “Although we don’t discourage DIY, it’s important to know your limits.”

Definitely leave electricity to the experts.

When to steer clear

Registered builder Craig Millar, of Millar Projects, advised leaving projects that had anything to do with a home’s structure, water or power to an expert.

“These jobs require licensed tradespeople,” Mr Millar explained. “You wouldn’t have an accountant fix your car, but for some reason everyone with a nail bag thinks they can renovate a house.”

Always check with your local council to see whether the task required a planning and/or building permit, he added, as these would indicate a properly licensed professional was needed for the job. He also advised avoiding tasks that involved climbing a ladder.

“It just adds another layer of risk for those who are inexperienced,” he said.

Everyone can have a crack at painting.

Good projects to try

Mr Millar encouraged DIY-ers to start small and set themselves achievable goals.

Good projects for beginners included simple painting tasks, such as a front door.

Just-launched app Coloursmith by Taubmans lets budding renovators personalise their paint by simply taking photos of their dream colour on a smartphone camera.

TV star renovators Kyal and Kara suggested using the bespoke paint colours — which could be ordered online or mixed together at Bunnings — to create a feature wall, refresh a cubby house or decorate a piece of furniture.

These were all perfect tasks for novices, as were changing locks or cabinetry handles, swapping over a tap washer or even repairing a small hole in a plaster wall.

“Building apprentices start out with smaller tasks, so that’s how you should be looking at it,” Mr Millar said.

The Coloursmith by Taubmans app. Picture: Taubmans

He found one of the most common DIY mistakes was attempting to demolish or remove elements without understanding how they contributed to the sound structure of a home.

“I was at a job once where a previous owner had removed large amounts of stumps to create an under-house storage area and then later tried to rectify the mistake with some haphazard carpentry,” Mr Millar said.

“This move weakened the home’s foundations and cost the next owner in excess of $8000 to fix.”

Mr Tucker saw the garden as a good place to cut your teeth on a bit of DIY.

“Basic tasks such as building a vegie patch or painting the back fence will give you a great sense of satisfaction, but I wouldn’t be trying something advanced like laying turf,” he added.

Don’t be too hasty

A big misconception with DIY was believing you could get the same result as someone who was specially trained, Mr Millar said.

He also cautioned against estimating how long a project would take based on TV renovating shows.

“The projects you see on TV have been heavily edited to fit into the viewing time,” Mr Millar explained.

“You’re kidding yourself if you think you can renovate a bathroom in a weekend, because good work and good results take time.”

Never cut corners with preparation either, otherwise you could end up with paint that flakes, grout that breaks up or insufficient waterproofing.

Kyal and Kara Demmrich, from The Block. Real life home renos aren’t done so quickly. Picture: Facebook.

“A lot of people try to renovate their bathrooms themselves but don’t understand the requirements with waterproofing,” Mr Millar said. “Over time, you end up with a leaking shower or bath that can cause major damage and devalue your property.”

For those you had their heart set on DIY, Mr Tucker suggested talking to their tradie to see if there was any aspect of the job they could be part of.

“Have the tradie do most of the tricky and complicated things and then, perhaps, step in to help with finishing off,” he said.

For example, you might get a carpenter to build the deck and then you could give the surface a light sand and stain it.

“There is a sense of pride in a job well done, particularly when you’ve had a hand in it,” Mr Tucker said. “But just be realistic with your goals.”

hipages.com.au

The post Jobs you need a tradie for, can do yourself: How to avoid DIY disaster appeared first on realestate.com.au.

Kobe Bryant’s childhood home is up for sale. Picture: Realtor

A unique piece of Kobe Bryant history is up for sale.

The hoop that helped make the late NBA star a basketball icon can be yours — if you buy the home it’s attached to, where the star-to-be spent his teenage years.

The Lakers legend’s childhood home — complete with its original basketball court — has hit the market for $1.23 million (US$899,000), according to NYPost.

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The hoop where a young Kobe worked on his game. Picture: Realtor

The den with a roaring fireplace. Picture: Realtor

A dining area with wet bar adjacent. Picture: Realtor

First round NBA draft pick Kobe Bryant poses for a photo in 1996 (Photo by Andrew D. Bernstein/NBAE via Getty Images)

Bryant’s family moved into the 1950s Colonial-inspired home back in 1991, settling down in the affluent Philadelphia suburb of Wynnewood after spending years in Italy. Kobe was only 13 at the time.

When he wasn’t practising on the metal hoop on the side driveway, the young basketball prodigy was laying the foundation for his career while playing for the nearby Lower Merion High School.

Bryant first displayed his phenomenal skills there as a teenager, when he led his high school team to a state championship — perfecting his craft on this very hoop.

The living area. Picture: Realtor

The dining space. Picture: Realtor

“I not only took a shot, I did a little dunk. I had fun with that,” co-listing agent, TJ Sokso with Compass told Realtor, who was also playing Pennsylvania high school basketball at the time Kobe was.

“It’s very nostalgic to be there. It’s a surreal feeling, actually.”

Kobe Bryant after his final NBA game in 2016 in Los Angeles, California. Picture: Harry How/Getty Images

This was Kobe’s childhood room, according to the selling agent. Picture: Realtor

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The property, spanning more than 316 sqm, hasn’t been on the market since 2008, when Bryant’s dad, Joe Bryant, sold the home for US$510,000, according to Realtor.

The two-storey house has five bedrooms and 3.5 bathrooms. Two of the bedrooms, including the main bedroom, have en suite bathrooms.

Memorabilia that the Bryants left behind. Picture: Realtor

The kitchen. Picture: Realtor

The main bedroom. Picture: Realtor

Kobe’s bedroom was the first one on the left at the top of the stairs.

Bryant, 41, died earlier this year in a helicopter crash in Los Angeles that also killed his 13-year-old daughter, Gianna, and seven others.

Considered one of the greatest basketball players of all time, Bryant notched five NBA championships during his 20-year career with the Los Angeles Lakers.

Kobe Bryant and daughter Gianna Bryant on July 26, 2018 in Irvine, California. Both tragically died in a helicopter crash earlier this year. (Photo by Harry How/Getty Images)

The post Kobe Bryant’s childhood home with original basketball hoop hits market appeared first on realestate.com.au.

The shift in interest to the regions is one of the more fascinating (and positive) trends to come out of COVID-19 – and the high level of interest in regional Australia is now flowing through to short-term pricing growth.

Picture: Getty

Looking at the Local Government Areas that are seeing the strongest growth over the past three months, it is overwhelmingly dominated by regional areas. Most of these are lifestyle areas – white-collar nomad driven – that have become popular over time, but particularly so since COVID-19 (e.g. Byron and Ballina). But it isn’t all beaches, with the Snowy Monaro Region featuring, as well as Swan Hill. Mining is also popping up in South Australia – Whyalla, which is also known as ‘Steel City’. 

The other interesting inclusions are two expensive Sydney LGAs: Strathfield and Hunters Hill. Sydney premium suburbs continue to do very well as employment loss continues to hit younger people and those in hospitality, tourism and education, but less so for other employment types. 

Is a car-dependent city our future?

COVID-19 was good for the environment during lockdown. Australian greenhouse gas emissions fell to their lowest level since 1998 under COVID-19 restrictions. The Department of Industry, Science, Energy and Resources reported last week that national emissions in the June quarter 2020 were estimated to be 8% – or about 10 million tonnes of carbon dioxide – lower than a year earlier. This included a 79% reduction in emissions caused by jet fuel, and emissions from petrol were also down 26%. It is unlikely to last and if we look around the world at countries where restrictions have eased, levels are rising back up to where they were – and in some places, overtaking previous levels. 

A dependence on cars could change the way our cities are developed.

While all that hand sanitiser can’t be great for the environment, the biggest problem is car use. Globally fewer people are wanting to use public transport and are instead driving more. Ultimately, COVID-19 is likely to not only be bad for people’s mortality, health and economic livelihoods, it is will also be bad for the environment. If people remain more car-dependent, it will also change the way that cities are developed. 

Car-dependent cities haven’t been popular for a long time. Mass transit has prevented congestion and ultimately made more walkable cities that people prefer to live in.  The ultimate car dependent city has probably always been Los Angeles with its spaghetti-like highway system. I don’t think that city has ever been held up as being the way of the future, but at this stage, an efficient freeway system is what is required until people feel comfortable getting back on public transport. 

Given that most people dislike congestion, polluted air and prefer walkable cities and getting around efficiently, how do we get people back on public transport? Ensuring they feel safe is critical with a focus on hygiene. If a vaccine is found, it is likely to be less of an issue as well. Continuing to improve public transport systems will also help.

The post Economist update: Regional areas dominating strongest price growth appeared first on realestate.com.au.

Lyn Davenport and her 12-year-old daughter, Grace, have sold their Mornington home, but now can’t look for new homes under the stage four lockdown. Picture: Alex Coppel

The extension of Melbourne’s real estate lockdown has left many buyers, sellers and homeowners in limbo.

Among them are Mornington’s Lyn Davenport and Ringwood’s Brenda Hemphill, who had no choice but to sell their homes and are now facing the prospect of being unable to find new places to live before they hand over the keys to new owners.

Then there’s Tim Drew, who is footing the bill for expensive bridging finance and stranded in his almost-empty Balwyn house after its selling campaign had to be shelved due to the stage four coronavirus lockdown.

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The plight of these people, and others like them, has sparked desperate calls for the real estate sector to be deemed an essential service and as a result, for private physical inspections to be revived as soon as possible.

The Victorian Government’s road map to reopening revealed in-person inspections would only be able to resume if the state recorded fewer than five daily cases over the two weeks prior to October 26.

Ray White Group managing director Dan White said the sector provided access to “a basic human need” in shelter.

And Real Estate Industry Partners chief executive Sadhana Smiles said the “stress, anxiety and financial pressures” many Melburnians were facing could “so simply be avoided with very minor changes to the current restrictions” — namely, allowing one-on-one inspections.

“It is beyond unreasonable to expect tenants and buyers to make such drastic financial and

emotional decisions based merely on virtual tours,” she said.

Belle Property Balwyn principal director Robert Ding said the situation was particularly dire for those who had “already sold their properties and need to find somewhere to rent or buy”. “They’re going to be homeless, otherwise,” he said.

Read on for the stories of some of the Melburnians facing added hardship amid the pandemic due to the real estate lockdown.

‘A few of us need dispensation’

Lyn Davenport just wants to be able to “go and look at a rental”. Picture: Alex Coppel.

Lyn Davenport sold her Mornington house “between lockdowns”, after her marriage broke down.

And now, under a stage four lockdown in which in-person home inspections are outlawed, finding a new home for herself and autistic daughter Grace, 12, has essentially become mission impossible.

“I can’t go and look at a rental,” Ms Davenport said.

“I understand Daniel Andrews is trying to do the best thing for all of us. But I think a few of us need dispensation.

“This is certainly not to upgrade (homes). The end of a relationship means you come out worse off emotionally and financially.”

With physical inspections not expected to resume until October 26, the single mum won’t have much time to view properties before her house sale settles in mid November.

On top of trying to find a new home, Ms Davenport is struggling to keep her business selling vintage clothing and upcycled furniture, French Vintage and Chic, afloat.

She said she couldn’t shift her store online because she would have to travel much more than 5km to the business’s base at Waverley Bazaar to pick up stock.

“I was really hoping I could buy a house, but I don’t think that’s going to be happening because I can’t work (and) I can’t get a loan,” she said.

Ms Davenport will also have to decide where Grace will start high school next year — a decision that may simply hinge on where she can find them a home.

“Another six weeks of this is going to be really tough,” she said.

‘We’re in a bit of limbo’

Tim Drew, his wife, Sam, son Jian, 18, and niece Boramey, 29, have been left stranded in their barely-furnished Balwyn house by the real estate lockdown. Picture: David Caird

Melbourne’s extended real estate lockdown has left Tim Drew and his family living “in limbo”, in a house furnished by only a trestle table, fold-out chairs, blow-up mattresses and a bean bag.

Mr Drew and his wife, Sam, bought a house in Ringwood East in June, agreeing to a 151-day settlement thinking it would give them plenty of time to sell their current Balwyn home.

In late July, they, their son Jian, 18, and niece Boramey, 29, moved out of the Balwyn abode into Quest Mont Albert down the road to get minor renovations done ahead of listing the property.

They cleared out the house’s furnishings to make way for staging furniture and engaged a real estate agent and photographer to prepare the listing.

Melbourne’s stage four lockdown — and with it, a ban on physical property inspections — was announced three days before the house was set to hit the market.

“All of that got brought to a grinding halt,” Mr Drew said.

“We moved back (into the Balwyn house) on August 3. The house is basically empty — the staging furniture is piled up in two rooms (and) we’ve borrowed a trestle table, four fold-out chairs, one bean bag and blow-up mattresses. We’re sort of glamping.

“We’re in a bit of limbo. I’m sure we’re no different to thousands of other homeowners in Melbourne.”

Mr Drew said while he was able to get bridging finance, it was costing “a substantial amount of money every month that goes by”.

“We don’t need a fire sale, but it would be good to sell as soon as possible,” he said.

“We’ll be listing as soon as the market opens up again.”

‘We have had to sell our forever home’

The real estate industry is lobbying for private one-on-one inspections to be revived as soon as possible, expanding to open for inspections like this one once COVID-19 is more under control. Picture: Tim Carrafa

Bone marrow cancer patient Brenda Hemphill has to move out of her Ringwood home by September 25.

This puts the 70-year-old in a significant pickle, as the extended COVID-19 lockdown outlined by the state government will prevent her from touring new rentals until a month after this deadline.

Ms Hemphill recently sold her unit at auction, via Ray White Ringwood, after her husband’s “business went bankrupt and forced the sale”.

“We have had to sell our forever home, and there’s no chance of delaying the settlement as my husband went bankrupt,” she said.

“I have bone marrow cancer and need to stay close to the hospital for treatments.

“I also cannot go and view any rental properties. I am imploring Daniel Andrew to make life a bit easier for us.”

‘Massive financial burden’

Desperate to keep the tenants at his North Melbourne investment property, Dennis heeded the Victorian Government’s call for landlords to offer rent reductions for those in COVID-19 hardship and agreed to a $160 weekly discount.

Even with this, his renters couldn’t make their last two payments and then expressed a need to vacate.

If they follow through, Dennis’s property will likely remain vacant until physical inspections can resume — which at this rate, is at least six weeks away — meaning no income from the investment.

Dennis, who declined to provide his surname, said he was facing “a massive financial burden when my tenants vacate”.

“It’s not really a question of if, but when,” he said.

“We’ve got our own mortgage, and I’m not in a financial position to be paying two mortgages on my own without any rental income to support that.”

“How is it fair people can visit places like Bunnings just to pick up some fertiliser, or nuts and bolts, and housing is a necessity, yet, we can’t even get a professional photographer through the property to relist?”

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samantha.landy@news.com.au

The post Melbourne lockdown real estate restrictions leave homeowners in limbo appeared first on realestate.com.au.

Up to $20bn could be wiped from the Victorian economy if real estate restrictions extend well into spring, as the state government plans.

A whopping average of $19.92bn in property sales was recorded during each spring selling season over the past five years, analysis by property research firm CoreLogic has revealed.

But experts say an extended ban on physical home inspections to at least October 26 — assuming the state records fewer than five daily COVID-19 cases over the previous two weeks — amounts to “a death sentence” for this year’s spring market.

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Melbourne’s spring selling season has been hard hit by coronavirus restrictions. Picture: Tim Carrafa

Lyn Davenport and her daughter Grace can’t inspect rentals due to a ban on physical inspections. Picture: Alex Coppel.

Street auctions are also off the table until late November, when the real estate sector is expected to be able to operate more freely if case numbers hit zero for a full fortnight.

The extended lockdown could also strip billions from Victorian government coffers, which were due to collect more than $6bn in stamp duty revenue across 2020.

CoreLogic head of research Tim Lawless said 15,544 properties hit the market in September and October 2019. But fresh listings were now “tracking 76 per cent lower” than a year ago.

CoreLogic head of research Tim Lawless commented on the severe drop.

“The drop in market activity has negative implications for stamp duty receipts across Victoria, which comprise one of the largest revenue sources for the state government,” he said.

Real Estate Institute of Victoria president Leah Calnan said weekly auction volumes had plunged 97 per cent from a year ago, with just 21 conducted via online platforms last week.

The peak industry body estimated about 12,000 properties usually went under the hammer between September and November.

About $20bn is spent in the spring selling season. Picture: CoreLogic

“No new properties are coming on to the market and almost no transactions are happening,” Ms Calnan said.

“The real estate industry contributes approximately 46 per cent of tax revenue into the government, so it’s really important the economy works out a way we can continue to work.”

The Real Estate Industry Partners’ agency network calculated every property transaction also poured an average of $120,000-$150,000 into related services, like photographers, signage businesses, conveyancers, stylists, cleaners and gardeners.

Gardening, cleaning and styling businesses have also been hit by lockdown.

Real Estate Buyers Agents Association president Cate Bakos said the requirement to meet case number targets before lifting restrictions could drive homeowners to scrap their sales plans altogether.

“It will depend on why the vendor is selling. Some may still have to move if they have a baby on the way, or need to be school zones before next year,” Ms Bakos said.

“I envisage a very distorted spring market, which more or less infiltrates December and January and becomes a summer market.”

Buyer’s advocate Cate Bakos said agents would work into summer. Picture: Mike Dugdale

Veteran real estate agent Philip Webb declared the inspections ban “a death sentence” for the spring selling season, noting “no one buys houses they’re going to live in without walking through”.

Ray White Group managing director Dan White said the road map’s unveiling last weekend triggered a wave of calls from vendors “distraught” at the prospect of further delays.

He noted hardships like “illness, divorce or … unemployment” often left people with no choice but to move.

Tim Drew and his wife Sam have stalled listing the house they have already moved furniture out of. Picture: David Caird

When asked about the inspections ban last week, Premier Daniel Andrews didn’t rule out exemptions for Melburnians who desperately needed to buy or sell.

“We’ve always welcomed people making their case,” Mr Andrews said.

“I know there are many in the real estate community and vendors who would love different settings. But a bit like pubs and restaurants and cafes, they wouldn’t be back to normal for long.”

Belle Property Balwyn principal director Robert Ding said the government should have deemed real estate an “essential service”.

“People have already sold their properties and need to find somewhere to rent or buy, because they’re going to be homeless otherwise,” he said.

— with Samantha Landy

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The post Stage four lockdown: Billions wiped from Victorian economy as spring market ban extends appeared first on realestate.com.au.