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17 Edgeware Road, Aldgate. Supplied by Harcourts Adelaide Hills.

An Aldgate home offers a peaceful escape from working life just a short walk from the very best the Adelaide Hills has to offer.

Catrina Orr’s mother Betty Melville bought the home in 1981, and has since transformed its surrounds into a tranquil wonderland.

17 Edgeware Road, Aldgate. Supplied by Harcourts Adelaide Hills.

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“Mum’s a very artistic lady and loves its privacy and its ability to be a canvas for her to put so much artwork and floristry in there,” Ms Orr says. “She was a florist herself and really loved the arts. She would have a twig fall from a tree in the garden and make an arrangement around it, because she loved its mossiness or whatever. She really loved that garden, and a lot of it she planted herself.”

17 Edgeware Road, Aldgate. Supplied by Harcourts Adelaide Hills.

The home has three bedrooms, a central kitchen and numerous indoor and outdoor entertainment areas. Perfectly liveable and enjoyable as is, it offers scope for further renovation.

“It’s a big family home, but it was only ever lived in by two people,” Ms Orr says. “It would be perfect for a large family, and, having two distinct ends, it would be perfect for an Airbnb, or if you were to renovate it, you could update one half while you live in the other and vice-versa. Both ends are so disconnected from each other.

17 Edgeware Road, Aldgate. Supplied by Harcourts Adelaide Hills.

The original part of the home is an 1800s cottage – the walls are over a foot thick, and then the rest was added around it.”

Ms Orr says the home is a great entertainer and handles a crowd with ease.

“Where the dry stone wall is, just outside the kitchen, we would put trestle tables all the way down like an Italian alfresco lunch and have 20 people around the table,” she says.

With the home now too much for Mrs Melville to look after, the time has come to sell.

17 Edgeware Road, Aldgate. Supplied by Harcourts Adelaide Hills.

“It will be really sad to say goodbye to it because it’s just been so loved by all of us, but what do you do?” Ms Orr says. “She’s lived in it alone and maintained these big beautiful gardens by herself for many years now. I’d like to see a family in it, it really suits a family. The location is great too. I had a couple of girlfriends that wanted to see what it looked like and we parked there, walked down to Aldgate and then walked to Mylor and back and then had something to eat at Fred’s Eatery – it’s such a lovely location.”

17 Edgeware Road, Aldgate. Supplied by Harcourts Adelaide Hills.

17 Edgeware Rd, Aldgate

Contact agent for price

Agent: Harcourts Adelaide Hills, Sam Oborn 0415 173 133.

Land size: 2030sqm.

Offers: Close Wednesday, September 2 at 5pm.

The post Aldgate stunner perfect as is or ripe for renovation appeared first on realestate.com.au.

Hedges Ave, Mermaid Beach, is regarded as one of Queensland’s ‘power’ streets.

WELCOME to the Sunshine State’s power streets.

These are the streets where some of Queensland’s wealthiest CEOs, celebrities and sporting legends own multi-million dollar mansions.

From Olympians and billionaire business owners to property tycoons and former politicians. you know you’ve made it if you own a home in one of these exclusive addresses.

Clive Palmer owns this beachfront home in Hedges Ave, Mermaid Beach.

When it comes to power streets, the Gold Coast’s self-proclaimed ‘millionaire’s row’ Hedges Avenue needs no introduction — just deep pockets.

The exclusive beachfront strip at Mermaid Beach is home to the likes of Clive Palmer, who paid $12 million for a five-bedroom mansion at 9 Hedges Ave in 2018 and Harvey Norman executive Steve Cavalier, who bought 213 Hedges Ave for a whopping $19 million in 2006.

More recently, oil mogul Peter Mitchell sold an 810 sqm double block at 67 & 69 Hedges Ave to Village Roadshow CEO Clark Kirby and his former television presenter wife, Sara, for $10.3 million.

Clive Palmer photographed on the Gold Coast. Photographer: Russell Shakespeare.

Other high profile residents include Gold Coast businessman Jack Ray and his TV personality wife, Natalie Gruzlewski; former Tourism Queensland chairman Terry Jackman; and members of the Tristram family who founded the Tristram’s soft-drinks business.

Mermaid Beach has a median house price of $1.585 million and is one of the most in-demand suburbs among potential home buyers, according to Realestate.com.au.

Cohen Handler Queensland managing director and buyer’s agent Jordan Navybox said his clients wanted to live as close as possible to the “hotspot” of Mermaid Beach.

Television presenter Natalie Gruzlewski and her husband, Jack Ray, own a house on Hedges Ave, Mermaid Beach. Image supplied.

“Everyone wants to be in Hedges Ave — even if they can’t get into it,” Mr Navybox said.

The equivalent power street on the Sunshine Coast would have to be Seaview Terrace in sought-after Sunshine Beach.

A high-profile couple paid $17 million for a mediterranean style mansion in May this year, while breakfast TV host Karl Stefanovic and his wife, Jasmine, bought in the street for $3.6 million in January.

Karl Stefanovic and his wife Jasmine have bought this house on Seaview Tce.

Television and film producer Jude Bailey and Russian hemp trader Evgeny Skigin also own homes in Seaview Terrace, Sunshine Beach, which has a median house price of $1.54 million.

Adrian Reed, director of Reed & Co Estate Agents, said it was no surprise that buyers loved Sunshine Beach — especially Seaview Terrace.

“The elevation from the beach offers privacy and a sense of seclusion, and one of the most spectacular beach and coral sea views on the eastern seaboard,” Mr Reed said.

Karl Stefanovic and Jasmine Yarbrough own a house in Seaview Tce, Sunshine Beach. Photo: Scott Ehler.

In Brisbane, Aaron Avenue in Hawthorne is a magnet for the well-heeled, with mining magnate Gina Rinehart the owner of $18.5 million worth of house and land.

Finance wizard Noel Whittaker also holds prime real estate in the street adn Goodlife Health Clubs co-founder Leon McNiece did until recently.

Properties are also owned by a property developer, a lawyer and business identities.

Gina Rinehart owns property in Aaron Ave, Hawthorne. Picture supplied.

Also on the river, King Arthur Terrace in Tennyson made headlines late last year when Brisbane Broncos CEO Karl Morris sold his property in the street to Canstuct International CEO Rory Murphy for $17.6 million.

The street is also home to the son of Super Amart founder John Van Lieshout.

Place Estate Agents managing director Sarah Hackett is marketing a 10 bedroom, eight-bathroom Great Gatsby-style mansion at 121 King Arthur Tce owned by Mark Brodie, the former owner of Queensland takeaway-chicken chain, Brodie’s.

Broncos chairman Karl Morris sold his home in King Arthur Tce, Tennyson, for $17.6m. Picture: Peter Wallis.

Mrs Hackett said she had recently received an offer of more than $10 million for the luxurious riverfront estate, which had attracted interest from a number of successful “under-the-radar” business owners.

“(King Arthur Tce) is a north facing street, it’s elevated and looks over the golf course,” Mrs Hackett said.

“You could be anywhere in Queensland with that view, it’s just magical.

This property at 121 King Arthur Tce, Tennyson, is owned by the founder of the Brodie’s takeaway chain, Mark Brodie.

“People do pick streets just because usually they’re attracted to the similar type of homes there and the feel of it.

“Quality neighbours are important too. With so many high-end sales in a street, you’re not going to overcapitalise if you invest there.”

Sutherland Ave in the affluent suburb of Ascot has always been regarded as one of Brisbane’s most prestigious addresses.

This house at 14 Sutherland Ave, Ascot, sold for more than $13m recently. Image: CoreLogic.

With only 16 houses in the street, property records show some of the homes have been held by the same owners for more than 40 years.

High profile residents include renowned fashion designer Keri Craig, Sentinel Property Group managing director Andrew Beaumont and Swissport vice president Glenn Rutherford who bought the former home of Domino’s Pizza boss Don Meij.

The record sale price for the suburb was broken earlier this year when ‘Windermere’ at 14 Sutherland Avenue fetched $13.14 million.

Coronis executive Craig Gillies is selling this house at 41 Sutherland Ave, Ascot.

Down the road in blue-chip Hamilton, Dickson Terrace is the ultimate address.

The street is famous for the extravagant mansion built by disgraced businessman Christopher Skase, which was bought by hotelier Steven Shoobridge for $10.13 million in 2018.

The owners of uniform manufacturer, Weareco, fourth generation jeweller Margot McKinney and property developer, Anthony Barakat, also own mansions in the street.

An aerial image of 36 Dickson Tce, Hamilton, which is the former home of Christopher Skase and now owned by hotelier Steven Shoobridge.

In the same suburb, Harbour Road is home to fitness empire queen Lorna Jane Clarkson.

An eight-bedroom, nine-bathroom masterpiece built for developer Don O’Rorke of Consolidated Properties at 33B Harbour Road is for sale.

The statement residence, which is called Balaam, sits on a 1609 sqm block with 48m of river frontage and is for sale for offers over $6 million with Ray White New Farm principal Matt Lancashire.

Fitness queen and entrepreneur Lorna Jane Clarkson lives in Dickson Tce, Hamilton. Image supplied.

Mr Lancashire is also marketing a home in the tightly-held Oxlade Drive in New Farm, which he regards as a definite ‘power street’, occupied by CEOs and old money families.

The property for sale at 36A Oxlade Drive is one of just nine riverfront homes on the strip, with direct access to the boardwalk.

“The last house that sold along there was in 2013,” Mr Lancashire said.

This mansion at 33b Harbour Rd, Hamilton, is for sale.

“It’s very prestigious… with generally larger blocks with direct river frontage and pontoons. It’s just unbelievable territory.

“As soon as something comes up there, it is the talk of the town because it just doesn’t happen.

“The prices along that strip could challenge Brisbane’s (house price) record.”

Property records show the cheapest residential sale along Oxlade Drive was $5.6 million.

Mr Lancashire said Teneriffe Drive in the neighbouring suburb of Teneriffe was also streets ahead of the competition.

“It has some of Brisbane’s most exclusive homes, with city views, and only 1km from the CBD,” he said.

This property at 36a Oxlade Dr, New Farm, is for sale. Oxlade Drive is sought-after street, with multi-million dollar properties.

Mr Lancashire said demand for prestige property in Brisbane was stronger than ever, despite the impact of COVID-19.

“The wealth at the moment is outrageous,” he said.

“I’ve got seven active buyers looking to spend over $10 million. I’m talking to them every couple of days.

“The stock in the top end of town is really tight.

“I was nervous when COVID started, but now we’re having a party in the top end.”

QUEENSLAND’S 10 POWER STREETS

1. Seaview Terrace, Sunshine Beach

2. Hedges Avenue, Mermaid Beach

3. Harbour Road, Hamilton

4. Aaron Avenue, Hawthorne

5. Brisbane Corso, Yeronga

6. Sutherland Avenue, Ascot

7. King Arthur Terrace, Tennyson

8. Dickson Terrace, Hamilton

9. Oxlade Drive, New Farm

10.
Teneriffe Drive, Teneriffe

The post QLD’s power streets revealed: where the state’s high flyers live appeared first on realestate.com.au.

2/852A Sandy Bay Road, Sandy Bay. Picture: SUPPLIED

LET’S be frank, this home is a showstopper.

Designed by renowned Hobart architect Garry Forward, this stylish triple-bedroom, townhouse boasts a wonderful position with the title to high watermark.

Being this close to the water, the views are stunning. They stretch across the River Derwent to Droughty Point, South Arm and the Tasman Peninsula.

The building was designed and built over four levels, maximising the view and its environmental sustainability.

Skylights have been installed for extra light and double glazing ensures sound and heat efficiency.

Location, location.

Right by the river.

There are concealed reverse cycle heater in both living areas, and covered louvre screens to allow for effective airflow.

A secure gate from the street provides level access to the main living area — street level and level four of the home.

From the entrance, the floor-to-ceiling window at the far end draws the eye past the quality kitchen with Tasmanian oak cupboards and granite benchtops on the right, through the dining area and to the relaxed living areas, the balcony and the breathtaking view.

There is an abundance of space in these open plan living, dining and deck areas.

The adjacent master bedroom is complete with a walk-in-wardrobe and ensuite. It shares those same impressive water views.

Grab a chair.

Light, bright and lovely.

The view is also paramount on the floor below. A picture window in the spacious 7.5m x 4.5m family room frames the vista. Take a quick glance in its direction and you’d be forgiven for thinking it was a beautiful landscape painting hanging in a gallery.

Level three is also home to two generous bedrooms with built-in wardrobes and a family bathroom highlighted by a luxurious spa. It also has a separate shower.

The bathrooms throughout the home are exquisite with their gorgeous tiles and tapware.

An extensive storage area located below, and an electronically secure double garage is at ground level.

Take the stairs from the garage up to level two to discover a fantastic study.

A lift, plus the stairs, give easy access to all four levels.

Family-sized space.

Come on in.

This family-sized property is situated only minutes’ drive from the lower Sandy Bay shops, cafes, beach and recreational facilities.

A regular bus service passes the door giving easy access to the Hobart CBD, schools and the University of Tasmania.

No.2/852A Sandy Bay Road in Sandy Bay is priced at “Offers over $1.5 million”, it is listed with Knight Frank.

The post Stunning views from this Sandy Bay stunner appeared first on realestate.com.au.

What Aussies want in their dream homes has become as varied as anytime in recent memory as house hunters ratchet up their search in increasingly uncertain times.

According to a fascinating look into Australia’s most popular streets, today’s home buyers are searching for big blocks, bargains, luxury and sentimentality as the key drivers to discover the abode they desire.

Search data from the last three years provided by realestate.com.au has revealed Australia’s most wanted streets and a window into the mind of buyers.

Racing’s Waterhouse family bought this Tivoli Avenue home in Sydney’s Rose Bay.

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In Sydney, the exclusive eastern suburbs have a lion’s share of the most popular streets, in Adelaide, the Adelaide Hills dominate, in Brisbane, the inner city suburbs bordered by the Brisbane River are highly sought-after and in Melbourne, many of the blue chips also areas dominate.

So what is motivating buyers in searching for their perfect street?

“There is a certain percentage of those searching, that are sticking beaking and want to check out certain homes and certain streets,” realestate.com.au chief economist Nerida Conisbee said.

“That is only one part of it though. Often those streets in those suburbs are particularly nice, even for those affluent areas. They might have a much better view, nicer houses or something else desirable that tends to lead to higher levels of interest.

What Aussie buyers want as much as anything is a view such as this from Nation Ridge Road in Aldgate, Adelaide.

“It might be close to the water, or be on a big block or have something unique about it.

“In some cases affordability is the key.”

There is also the aspiration lure of the big name streets that we come to know in the cities we live.

“If you have lived in these cities you get to know these streets,” Ms Conisbee said.

“They are aspirational. There are good schools close by and there is a lifestyle available there that people want.”

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Brisbane’s Ramsay Rd, Clear Mountain is another favourite.

And if you want to buy in these streets, or you have a home to sell you can expect a premium price.

“You’re going to be up against more competition in these streets,” Ms Conisbee said.

“As a result of that you will likely pay a higher price than for houses in other less popular streets in the same suburb.”

AUSTRALIA’S MOST POPULAR STREETS

SYDNEY

1. Tivoli Ave, Rose Bay

2. Jane Pl, Dural

3. Pacific St, Watsons Bay

4. Caloola Pl, Baulkham Hills

5. Carrara Rd, Vaucluse

A house on Tivoli Avenune.

6. Pioneer Pl, Castle Hill

7. Mitala St, Newport

8. Shellbank Pde, Cremorne

9. Martin Rd, Centennial Park

10. Carters Rd, Dural

MELBOURNE

1. Fairview Ave, Wheelers Hill

2. Regent St, Elsternwick

3. Barnard Rd, Toorak

4. Agnes Ave, Balwyn North

5. Jayson Ave, Eltham

6. Trindall Pl, Taylors Lakes

7. Belvedere, Kew

8. Bromham Pl, Richmond

9. Amberley Way, Lower Plenty

10. Kent Hughes Rd, Eltham

Melbourne’s No. 1 street: Fairview Ave, Wheelers Hill.

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BRISBANE

1. Ramsay Rd, Clear Mountain

2. Bridgeman Rd, Bridgeman Downs

3. West Mount Cotton Rd, Cornubia

4. Lisk St, Pullenvale

5. Becker Pl, Mount Ommaney

6. Banek Pl, Everton Park

7. Sutherland Ave, Ascot

8. Molonga Tce, Graceville

9. Jaora St, Graceville

10. Eatons Crossing Rd, Draper

How’s the serenity on Ramsay Rd, Clear Mountain?

ADELAIDE

1. Nation Ridge Rd, Aldgate

2. Carrick Hill Dr, Springfield

3. Sturt Valley Rd, Stirling

4. Laurel Rd, Stirling

5. Waverley Ridge Rd, Crafers West

6. Glades Lane, Aldgate

7. Howard Dr, Stirling

8. Prescott Tce, Rose Park

9. James Rd, Belair

10. Norton Summit Rd, Norton Summit

The post Real estate: Australia’s most wanted streets revealed appeared first on realestate.com.au.

17 Gardenia Grove, Sandy Bay.Picture: SUPPLIED

BUILT in 2000, this family-sized house boasts a premium locale and lovely water views.

Welcome to No 17 Gardenia Grove, a solid and comfortable home perched just above Churchill Avenue.

From its elevated, prime position the property boasts the wide and beautiful Derwent River views that this premium address is renowned for.

This substantial four-bedroom brick home combines low maintenance living with modern convenience and a quiet new homes area.

Throughout the home visitors will discover contemporary design replete in natural light.

The interiors feature Tasmanian oak floorboards in the living zone, comfy carpets in the sleeping quarters and a neutral colour scheme.

Derwent views.

Island living.

Located on the upper level, the open-plan living, dining and kitchen space feels light and airy. Big windows drink in the vista while sliding glass doors open the space to deck or patio for entertaining.

In the kitchen the home chef will find soft-close cabinetry, granite benches, gas cooking, quality stainless steel appliance and an island bench, which would be a great spot to grab breakfast or to have a chat with the cook while they prepare dinner.

Along a central hallway there are three good-sized bedrooms, each with built-in wardrobes, plus the master bedroom which is well equipped with a walk-in wardrobe and an ensuite.

The family bathroom is located in this part of the home, too, it features a luxurious spa bath alongside a separate shower.

The home has a ducted vacuum system and natural gas ducted heating.

Plush bedrooms.

Simply superb.

Outside there is a generous rear garden that will be ideal for pets or children.

Under the main living level of the home there is a large double garage with ample storage space.

Gardenia Grove is close to premium schools, UTAS, beaches and local shops and restaurants.

The latest realestate.com.au data shows Sandy Bay is one of Tasmania’s busiest suburbs for sales volume – well in excess of 120 house sales annually – and it has a top-three highest median house price.

There were 55 unit sales also.

In the past year the median house price has been steady while in the past three years it has increased by about 12 per cent for houses and by almost 10 per cent for units.

REA found that, on average, houses sold after 30 days on the market while units were slightly slower at 36 days.

No.17 Gardenia Grove is listed with Petrusma Property and priced between $845,000-$885,000.

The post Large family home in a top spot appeared first on realestate.com.au.

Big sale – 27 Cherry St, Warrawee.

There is no doubt the COVID-19 pandemic has hit Australia hard, and the property market has not been untouched.

But one upper north shore agent has defied the odds, selling 18 properties in July for a combined total of $51.751 million.

Leading the sales was 27 Cherry St, Warrawee, which sold in just seven days for $5.35 million.

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David Walker, director of Way White Upper North Shore, said the key to success was pricing properties realistically to attract competition and urgency.

“We had 33 individual inspections during two open homes and the buyer was a young family who have been renting in the area while waiting for the right property to purchase,” he said.

“The appeal of this home was its north orientation on the block, and the quality of the full brick, custom Felton Constructions build.”

Mr Walker said demand was outstripping supply and the lack of stock was working in the vendor’s favour.

“In an area where there’s still strong demand, buyers who are looking to upgrade or downsize are able to take advantage of historically low interest rates,” he said.

“All indications are that low stock numbers will continue, and with a shortage of properties available for buyers to choose from, I believe sellers can still achieve a great outcome for the balance of the year.

“We don’t know what’s around the corner, but we do know that right now buyers are plentiful, interest rates are low, and stock is still limited, creating high demand for particular homes.”

15 Coolabah Ave, Turramurra.

And if a seven-day sale was not impressive enough, Mr Walker ended the month on a massive high.

“Our quickest sale of the month came at 15 Coolabah Ave in Turramurra, where the newly built home, that was meant to hit the market on the weekend, sold in three hours,” he said.

“We showed one buyer through prior to our first inspection, and within three hours, we were signing contracts.

“After a 12-month build process, and the vendors spending countless hours preparing it for sale, all their hard work paid off with an incredible sale result of $4,400,000.”

$2M BRACKET A HIT

Sales on the upper north shore around the $2 million mark were flavour of the week in both auctions and private treaties.

Four of the top five auctions results were just under the mark or over it, and four of the five top private treaty results were more than $2 million.

Among the results was the $2.25 million sale of 26 Awatea Rd, St Ives Chase for $2.25 million.

26 Awatea Rd, St Ives Chase.

The 921sqm property had a guide of $2.2 million and came with its own indoor heated swimming pool, as well as a four-bedroom house with multiple living spaces.

Katheryn Purdy, of Di Jones North Shore – Wahroonga, said there had been strong interest in the home, particularly from families wanting to be in the catchment of the popular St Ives North Primary School.

She said the buyer was a local who loved the design of the home. The vendors had originally bought the property to knock it down and start again with a new home, but then decided on a full renovation.

“Anything around the $2 million mark is going like hot cakes at the moment,” Ms Purdy said. “There’s still not much stock around so that’s definitely helping sales.

“I think we’re in a bit of a bubble at the moment.”

FAMILY SHIPPING OUT

SBS director of sport Ken Shipp has set a September 5 auction date for his Greenwich family home.

Mr Shipp, his wife and their two daughters are downsizing from the four-bedroom home at 3 Valleyview Cres. They have owned the 898sqm property for 10 years.

The single-level home has multiple living zones, with the family room opening to a deck overlooking the pool and rear yard.

3 Valleyview Cres, Greenwich.

Other features include high detailed ceilings, neutral interiors, timber floors, Caesarstone kitchen, single garage and separate carport.

The property is located within walking distance of Greenwich Public School, and is also close to Greenwich village and St Leonards train station.

The street is very tightly held – there have only been two sales in the past five years, the most recent earlier this year.

The sale of 18 Valleyview Cr in March for $2.75 million also set a new price record for the street, smashing the previous one set in 2018 by $550,000.

James Bennett and Baxter van Heyst, of Belle Property Lane Cove, are marketing the property with a $3 million price guide.

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The post Sydney’s upper north shore shows no sign of slowing despite COVID-19 challenges appeared first on realestate.com.au.

Auctioneer Stuart Davies (right) and agent Michael Pallier at the auction of Woollahra home. Picture: David Swift

THE COVID-19 pandemic may have put a wrecking ball to the economy but the uncertain times failed to deter bidders from putting in multimillion-dollar offers for a historic Woollahra house.

The character-filled home on Harkness St with harbour views sold under the hammer for $5.71m after attracting 11 registered bidders at auction on Saturday.

The property was the home of John Lysaght, 91, who in the 1980s ran the now BHP subsidiary that makes Colorbond roofs and Zincalume steel.

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Mr Lysaght had lived at the home more than 30 years and was downsizing to Rose Bay. He watched the auction from within his car, wary of mingling with onlookers during the pandemic.

The home was well-presented but considered a “fixer upper” because of the scope for improvement.

His son Andrew said the family was delighted with the result. “It was more than we expected but you never know what’s going to happen at an auction,” the younger Mr Lysaght said.

“I was nervous about the auction about eight weeks ago. We weren’t really sure what direction the market was taking but it seems to be strong in the east.”

Selling agent Michael Pallier of Sydney Sotheby’s International said the $5.71m price was “what the house deserved” and well over reserve.

“It’s a fantastic location,” he said. “No one really knew exactly what the price would be prior to the auction because it is a unique property.”

A crowd of about 70 people were at the auction, spread across both sides of the street.

The guide was $4.5m and more than 30 groups requested contracts of sale for the property.

The buyer was understood to be an Indonesian businessman based in Bondi Junction, but he got his architect Simon Hanson, director of renowned firm Bureau SRH, to bid on his behalf. Mr Hanson said the plan was to redesign the circa 120-year-old home but the project was yet to be finalised.

“It’s an incredible location. We’re not sure what we’ll do but it won’t be much … we’ll find out what we’re working with once we take a closer look,” he said.

Eight of the 11 registered bidders put in offers but the auction was initially slow to get started.

Architect Simon Hanson from Bureau SRH Architecture is working with the winning bidders to develop the property.

Mr Hanson bid on his client’s behalf.

Auctioneer Stuart Davies received an opening bid of $3m about two minutes after launching proceedings and the bidders needed plenty of encouragement.

It was only when the bidding hit the $4m mark that a series of rapid-fire offers came in. “There is such good bidding. It’s a shame there can only be one winner,” Mr Davies said during the auction.

Mr Pallier said some bidders were holding their cards close to their chests but it was apparent they were prepared to spend big. “I have a theory about property,” he said. “People’s focus is on the home at the moment because they can’t go overseas and spend on (entertainment) so the market is strong.”

The post Former steel boss, 91, gets $5.71m at auction for historic Woollahra house appeared first on realestate.com.au.

Eight-year-old boy Michael Hamdan was the winning bidder at a Greenacre auction. Picture: David Swift

He is just eight years old but Michael Hamdan could be Sydney’s youngest property investor.

The southwest Sydney resident was the winning bidder at the auction of a cluster of five one-bedroom studios in Greenacre Saturday, beating out competition from six other registered bidders.

The homes on Juno Pde were snapped up under the hammer for $970,000 after going to market with expectations of about $800,000.

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Selling agent Mark Saleh of Harcourts-Greenacre said the eight-year-old’s entry into the auction was met with astonishment from the crowd of onlookers.

“I’ve never seen anything like it,” Mr Saleh said. “All the other bidders were a bit shocked.”

Mr Hamdan led much of the auction, placing the opening bid and came into the sale with a strategy to “slow bidding down”, according to his property developer father.

Michael Hamdan and agent Mark Saleh of Harcourts-Greenacre at the Greenacre property.

“He was enjoying playing monopoly with the bids,” the dad said. “We made it a fun experience.”

The boy was unable to directly buy the property because of his age, but his father said he purchased the investment properties for him.

His son handed the cheque to the sellers as part of the transaction.

The property developer said he wanted his son to be involved in the purchase of the former housing commission units so he could learn as much as possible about Sydney’s pressure cooker property market.

“I’m trying to teach him everything I know,” he said. “I used to get very uncomfortable bidding at auctions, I know what it’s like. I hope this will build up his confidence.”

The Juno Parade property has five one-bedroom homes on it.

The father-son team will renovate the properties and rent them out.

“(Michael) will be involved every step of the way … he will make the choices,” the dad said, adding the child would be picking out fittings and fixtures with his guidance.

Auctioneer Rob Trovato of Auction Services was calling the bids and said there was a reasonable level of competition from the other bidders, who were mostly investors and other developers.

There was a high level of competition for the properties.

The younger Hamdam stood out, Mr Trovato said. “He attempted some low-ball bids which had to be knocked back, but a lot of people try that … the two of them were having a bit of fun with it.”

ING research showed the average age of Sydney first homebuyers was 38.2, up from 34.7 in 2005.

“The property market is difficult to get into,” the older Hamdan said. “I wanted to train my son up … we saw this as a good investment.”

The post Eight-year-old boy snaps up investment property at auction in southwest Sydney appeared first on realestate.com.au.

A new report suggests the Townsville property market has begun its recovery after several negative years, noting the city’s “resilience” during the COVID-19 crisis.

The Herron Todd White Month in Review Report for August has both the Townsville house and unit markets at the “start of recovery”.

“The resilience of the Townsville residential market post COVID-19 continues to astound us with increasing sentiment and a noticeable increase in vacant land sales and new home construction following the $25,000 Homebuilder grant,” the report said.

“The investor market for house flippers continues to see good activity, particularly in established suburbs such as Railway Estate, Currajong and Gulliver.

“The entry level price for this type of investment is in the low $200,000s range.”

This house at 1 Quandong St, Currajong is for sale for $349,000

The report also pointed to reports from local agents of an increase in inquiries from trad­itional investors from interstate, and of buyers’ agents representing buyers from out of town becoming more active in the market.

Further, the report said the number of properties advertised for rent on real­estate.com.au within the greater Townsville region had reduced considerably, from about 850 in mid-April to about 450 in mid-July.

The Real Estate Institute of Queensland this week revealed the Townsville rental vac­ancy rate had shrunk to its lowest on record, tightening to just 1.7 per cent. That’s down from 2.9 per cent in March, and the record high of 7.1 per cent in September 2016.

“Overall there are many suburbs throughout Townsville with solid yield investing options available, particularly if not seeking short to medium term capital growth,” the report said.

“As yields vary based on demand and supply in the rental market, it is important when buying an investment property to consider property that will appeal to a wide range of ­potential renters.”

This unit at 4/100 The Esplanade is listed for $399,950. Supplied

The latest REA Market Trends report for August shows Charters Towers has the highest indicative rental yield in the region, with a whopping 13.2 per cent return.

Its rental vacancy rate has shrunk from 5 per cent in the March quarter to just 1.5 per cent in the June quarter.

In Townsville, Garbutt units are reaping the highest rental yields, with 11.31 per cent, while for houses, the top suburb is Rasmussen, with 7.92 per cent.

Michele Hyde of RE/MAX Excellence is marketing a three-bedroom unit in Belgian Gardens, one of the top performing suburbs for rental yields, for $399,950.

Ms Hyde said the local unit market, and Townsville as a whole, was showing some positive signs of recovery.

“Land sales have taken off,” she said. “We had a few blocks that were sitting for a while and now people are really taking advantage of the government funding (to build a new home),” she said.

“A lot of people are now finding it is cheaper to buy than rent.”

TOP 10 SUBURBS FOR RENTAL YIELDS (units)

Garbutt 11.31%

Hermit Park 10.4%

Idalia 9.84%

Rosslea 9.06%

Pimlico 8.19%

Douglas 8.03%

Belgian Gardens 7.98%

Kirwan 6.71%

West End 6.44%

South Townsville 6.12%

TOP 10 SUBURBS FOR RENTAL YIELDS (houses)

Rasmussen 7.92%

Garbutt 7.52%

Currajong 7.15%

Deeragun 7%

Vincent 6.93%

Wulguru 6.88%

Oonoonba 6.62%

Heatley 6.55%

Kelso 6.51%

Gulliver 6.5%

(Source: REA Market Trends report, August)

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