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Tania Tan and Robert Hosker with their children Amber and Ollie Hosker.

When Tania Tan and Robert Hosker listed their Neutral Bay family home for sale in May, Sydney was in the thick of the COVID-19 crisis.

Social distancing rules were well entrenched after the Federal Government introduced them in March, but by May 15, the first easing of restrictions imposed in the nationwide lockdown had arrived.

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Ms Tan and Mr Hosker were keen to upsize to a larger home in the area, having lived at 20 Bent St, otherwise known as The Corner House, for 13 years.

The couple wanted more space for their growing family, but wanted to sell before they committed to a new property.

20 Bent St, Neutral Bay.

20 Bent St, Neutral Bay.

Ms Tan, former art director for Pacific Magazines and at the BBC, who now works in the financial sector, said the home had been wonderful for raising their young family.

Claudia Portale, of McGrath Mosman, launched the property in May, ahead of a June 6 auction, however it didn’t sell.

“We had such a tough time during the COVID lockdown and afterwards – there was a lot of negativity about the market,” Ms Portale said.

“But come spring and it’s like everyone has sprung seriously into action. The buyers are back.”

Last week Ms Portale relaunched the couple’s property in the hope of a spring sale, setting a September 26 auction.

And what a difference it was this time around.

The kitchen.

The view.

A young couple, originally from Melbourne who had been looking for their dream home for the past year, inspected The Corner House last week.

By 5pm they had signed off on a $3.275 million deal to buy the c1910 home.

It was a great result, considering the price guide was $2.8 million to $3 million – and set a new street sales record.

It blitzed the record set in 2018 with the $2.82 million sale of 64 Bent St, CoreLogic records show.

Ms Tan said it all happened very quickly.

“I was so surprised at how quickly it sold this time ‘round,” she said. “I really had no idea what would happen.”

Meanwhile, the family is still looking for the right new home.

“In this environment we really didn’t want to end up with owning two houses at once,” Ms Tan said. “We definitely plan to stay in the area.”

A TASTE OF BALI

Who needs international travel when you can have a Balinese-style courtyard complete with water feature, towering bamboo and electric rain-sensing louvre roof in the heart of Neutral Bay?

The two-bedroom townhouse at 3/3 Hardie St, is due to go to auction on October 3, with Matthew Smythe and Mark Ryan, of Belle Property Neutral Bay.

Holiday at home – 3/3 Hardie St, Neutral Bay.

They have set an auction guide of $1.4 million price guide for the pet-friendly home, which has 168sqm on title.

Owners Garry and Jacqui Brook have been renting the property out since moving to the Central Coast a year ago.

Ms Brook said the property had been a massive hit on Airbnb, with the couple achieving ‘super host’ status within three months.

“Unfortunately, since COVID-19 hit, we have lost bookings as they were all from overseas,” she said.

So they have decided to sell the townhouse.

“We think our property is a hidden gem,” Ms Brook said. “It caters to the needs of a young couple/family upsizing from an apartment or a couple who are downsizing.”

RARE OPPORTUNITY

A 1930s home set high on the Balmoral ridge, and a level walk from the Mosman village has come to market.

The three-bedroom home at 16 Moruben Rd, is ripe for a renovation, extension, or even a knockdown/rebuild, says Jacqui Rowland-Smith, of Di Jones Mosman.

“The (harbour) views are phenomenal,” she said. “This is a rare find, there is so much opportunity with this property.”

16 Moruben Rd, Mosman.

The view.

The rear view.

Or you could do nothing at all. From the street, the home has plenty of appeal in keeping in line with its Federation history, and there are plenty of classic touches still evident.

The versatile floorplan allows for a range of uses within the living spaces, that open to multiple terraces.

Other features include a skylit kitchen with stainless steel appliances and gas cooktop, fully tiled heated pool and spa surrounded by tropical gardens, massive main bedroom with ensuite, terrace, built-ins and a dressing room, rumpus room and airconditioning.

The home will be privately auctioned on October 3, with a price guide of $5.25 million to $5.75 million. It is open for inspection today and Saturday, from 1-1.30pm.

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Recent price falls have made Sydney more affordable. Picture: John Appleyard

Housing has become more affordable for buyers on middle- and lower-incomes, opening up access to suburbs that were previously out of reach.

Recent falls in prices, spurred on by the economic fallout from the COVID-19 health crisis, has meant those on annual incomes of less than $80,000 can buy in suburbs where the average houses were only affordable for households earning more than $100,000 back in March.

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An analysis of mortgage and price data by Finder.com.au found that southwest suburbs Elderslie, Spring Farm and Hebersham had seen significant improvements in affordability, thanks to cheaper prices and a fall in home loan rates.

Buying a house in Manly won’t come cheap. Picture: John Appleyard

Buyers in these suburbs only needed to earn around $70,000 to afford monthly repayments if they had a 20 per cent deposit and the lowest rate on the market, which sits around 1.95 per cent.

“The door is now open for lower- and middle-income buyers,” Finder.com.au insights manager Graham Cooke said.

“We are seeing the first sub-2 per cent rates appear in the market, with one 1.95 per cent product available nationally, and many others in the same ballpark.”

There were similar changes on the Central Coast, with suburbs like Chittaway Bay, Bateau Bay and Hamlyn Terrace.

Western suburbs South Penrith, Marsden Park and Emu Plains were also in the same boat.

Sydney’s cheapest markets for a house, Austral and Wilmot, required a minimum income of $43,000 a year.

An income of $80,000 is required to buy in Liverpool, $60,000 in Campbelltown and $76,000 in Fairfield, based off an interest rate of 1.95 per cent

In Castle Hill that number jumps up to $163,000, while Kellyville residents require an income of 128,000 to secure a house.

You would need an income of around $550,000 to buy in Vaucluse. Picture: John Appleyard

For units, Berkeley Vale on the Central Coast is the cheapest market, with a required minimum salary of about $36,000.

To buy a unit in inner west hot spot Leichhardt, a salary of just over $100,000 is required, while the figure drops to $72,000 in Newtown.

In comparison, to buy a house in a premium Sydney area like Vaucluse, you will need a salary of $554,000.

In Bellevue Hill that number rises to $663,000.

To buy a house in Manly you will need an income of just over $300,000, while in Cronulla it is around $230,000.

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12990 Tasman Highway, Swansea. Picture: SUPPLIED

HOW often does the chance come along to grab a slice of the lauded Freycinet Coast?

Starting at about $500,000, single, double and triple-bedroom residences will be built at the luxurious Piermont Retreat property south of Swansea.

Knight Frank property consultant Adele Plunkett says investors will be able to enjoy the best of both worlds.

She says as well as owning an impressive coastal holiday home — and being able to vacation there themselves — there will be opportunity for Piermont to lease and manage the holiday rental home for the owner.

“A management agreement, specs for furniture and projected income returns are available on request,” she said.

“At present there are a two-bedroom and a three-bedroom property completed and sold.”

Life would be a dream.

Luxurious.

Enticingly, Piermont Retreat’s facilities will be available to the owner, too, including its award-winning restaurant, swimming pool, tennis court, walking trails, private beaches and equestrian parkland.

The accommodation at Piermont has been described as “ecologically sustainable luxury” with a lack of superfluous decorations and glitzy polishes. Its creators prefer lovingly finished details, handcrafted from natural materials.

Adele said the strata titled villas would be built to the high standard that Piermont was renowned for.

“At this stage the vendor is offering a couple of single bedroom villas on Lot 252 and 264.

“These will be constructed of vertical timber and will be single storey; only slightly different from the larger properties.

“There will be a two-bedroom villa on Lot 248 from $895,000, a three-bedroom villa on Lot 266 from $945,000 and a waterfront home with three bedrooms on Lot 244, priced from $1,175,000.”

Raw materials.

Natural beauty.

Prices include building completion and all fixtures, fittings and furniture.

These chic contemporary properties were designed by JCB Architects to blend with the natural landscape and provide luxury accommodation that accentuates an indoor/outdoor seaside lifestyle.

The interiors were designed and styled by Hecker Guthrie with a natural palate and European influence.

The strata allotments have been strategically placed to provide privacy and beautiful vistas over Great Oyster Bay and the iconic Freycinet Peninsula.

The secluded waterfront position at Piermont affords a delightful setting with a serene environment for holiday living.

“These captivating villas will encompass all this with the benefit of a good return for your investment,” Adele said.

Prices for No.12990 Tasman Hwy, Swansea range from $495,000+ to $1,175,000+. Contact Knight Frank for details.

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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.

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