While housings starts, permits and completions all declined from July, Thursday provided some good news for an inventory-starved industry.
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Day: <span>September 17, 2020</span>
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DESPITE recording a decline in sales, the Gold Coast new apartment market is showing resilience with a higher sale rate than 12 months ago.
The Urbis Gold Coast Apartment Essentials Insights revealed a decline in sales during the second quarter of 2020 – down from 265 during quarter one to 156.
While this is a lower result than the previous three quarters, the market recorded a higher sales rate than 12 months ago when 153 sales were recorded during quarter two of 2019.
An aerial view of the Surfers Paradise skyline.
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The report revealed COVID-19 has impacted the momentum that was in the market and caused a slowing of sales rates as overseas and interstate investors are hampered by border restrictions.
“While there is still uncertainty and caution in the market, Queensland’s response and results during COVID-19 will bode well when borders open and interstate and overseas buyers can move freely,” said Urbis director Lynda Campbell.
“As people reset and reassess their living and employment options, the Gold Coast is well placed to see an influx of investors and new residents looking for a lifestyle change.
“The ability to work from home, or from any location with reliable internet, has been proven and is a previous barrier to interstate and overseas migration that has been removed.”
Cannes at Surfers Paradise, a project by Marquee Development Partners.
The weighted average sale price increased $51,813 to $861,624 while supply levels have fallen to their lowest level in six years.
At the end of June 2020, there were 813 new apartments available for sale – the lowest level since quarter two of 2014 when there were 721 remaining on the market.
The majority of new apartment stock for sale is in the GC Central Precinct.
No new projects were launched during the quarter but there are 14 projects pending launch over the next six to nine months containing 723 apartments.
The post Gold Coast property: new unit market records decline in sales but sales rate is up appeared first on realestate.com.au.
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Sold – 5 Plunkett Rd, Mosman.
A Luigi Rosselli-designed Mosman masterpiece within walking distance of Balmoral Beach has sold within a week on the market for around $10.5 million.
The sale comes as agents report a growing level of ex-pat activity, and strong demand for prestige property.
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The classic Rosselli curvy and contemporary design at 5 Plunkett Rd, caught the attention of lots of buyers, said Scott Thornton, of The Agency – North.
They loved its modern beach resort-style feel and the location close to the sands of Balmoral.
He said he could not reveal the exact sale price.
“The home sold in proximity to its price guide of $10.5 million and it was on the market for just one week,” Mr Thornton said.
“The demand is very strong in the prestige market, not only in Mosman, but across the entire lower north shore.”
The private pool.
The many terraces make the most of the view.
There are multiple living spaces.
He said this was due to a combination of factors.
“Finance is at its most affordable in decades, people are viewing property as a secure investment in the current climate and the stock levels are extremely low,” he said.
“We are starting to see more expats in the market, this includes from Singapore, London, Hong Kong and interestingly from the US. Within the local market we are seeing people both upgrading and downsizing.”
Mr Thornton said he was not surprised at the level of buyer interest in the property, given it was one of Luigi Rosselli’s classic designs.
“There is always going to be appeal for a home of this calibre and location, walking distance from Balmoral Beach and the elevation captures the harbour and iconic Balmoral landscape,” he said.”
Formal dining.
The view.
Street appeal.
The home is set on a corner block that captures views that extend from Balmoral to Manly, and landscaping by Secret Gardens has given the home a new level of privacy and beauty.
The family friendly floorplan is extensive and versatile, encouraging an easy indoor-outdoor flow over both levels.
The home has four bedrooms plus a study, and the main bedroom has its own full bathroom and walk-in robe.
The yard is family friendly and private.
Edgy design.
The kitchen.
The elegant kitchen includes integrated NEFF and Liebherr appliances and a striking marble island bench that is sure to become the heart of the home.
Other features include matched limestone flooring and sandstone walls, Control4 smart home system, integrated sound system, bespoke joinery including concealed marble barista/bar area, heated pool, wine cellar, gas fireplace, concealed televisions, ducted, reverse cycle airconditioning and gas heating.
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The Queens Court house in Castle Hill is up for sale.
It’s Barbie on the outside, Versace on the inside.
A grand house in Sydney’s northwest painted hot Pink and styled with flourishes inspired by the high-end Italian fashion brand has hit the market and instantly begun making waves.
The five-bedroom house on Queens Court in Castle Hill was only listed earlier this week but has already become a real estate talking point due to its unique styling.
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The house is listed with a price guide of $2.1m-$2.6m and includes ample chandeliers, gold-coloured walls and elaborate ornaments decked out in Versace’s signature style.
The Versace theme continues in much of the house.
It’s a standout even from the street due to the pink exterior – one of the only houses on the street not painted white or beige.
On the top balcony are two statues facing the street, while a fountain is adjacent to the front door.
Built circa 2005, the house opens to a grand entry foyer with walls of green and a gold ceiling, along with ornamental pillars.
The lounge has a layered ceiling and is decorated with gold furniture. It is separated from the formal dining room by an elaborate metal furnishing.
There is a grand entry foyer.
Even the kitchen has the Versace theme.
Another room has a zebra patterned ceiling and even more unique ornaments.
Even the kitchen continues the styling theme – the layered ceiling is painted gold and a large chandelier hangs over the breakfast bar.
Selling agent Paul Cutcliffe of Cutcliffe Properties said the house was turning heads after recently coming to market.
“We haven’t opened it for inspection yet but there has already been an unusual amount of inquiry,” Mr Cutcliffe said.
“It’s definitely caught people’s attention. I think what’s captured people is the colour scheme … I can’t recall ever selling a house anything like this before.”
The home has been attracting plenty of interest.
Mr Cutcliffe said the vendor had very particular tastes and a strong interest in style.
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The ornaments and general look of the interior had a strong Versace-inspired theme, he added.
“It’s an incredibly stylish house. For a suburban house, it has grand proportions that make it stand out.”
Other highlights include the master suite with a walk-in wardrobe. There is also a saltwater pool and well-maintained gardens.
The price guide is $2.1m-$2.6m.
The hot pink exterior makes it stand out in the Castle Hill suburbia.
Castle Hill has remained a relatively strong seller’s market during the COVID-19 pandemic. A four-bedroom house on Lygon Place sold for $2.15m in the first week of September, while a house on Lemonwood Place sold for $1.625m earlier this week.
The post Versace themed house painted hot pink offers ultimate property porn appeared first on realestate.com.au.