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9 Palm Avenue, Ascot, sold for over $7m.

Millionaire home sales are on the rise amid a surge in buyers seeking a better lifestyle during the coronavirus pandemic.

While major sales are being notched-up across Brisbane’s prestige suburbs, mid-range properties with extensive amenities and views are also experiencing strong price gains.

Agents report that the high-end property market is going gangbusters during COVID-19, with one now dealing with seven buyers who are actively househunting in the $10 million-plus range after missing out on other luxury properties.

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The view from 109 Carlton Terrace, Manly, sold for $1.3m.

A jawdropping new-build at 9 Palm Avenue, Ascot, sold for more than $7 million earlier this month, after inspections from 50 buyers in that price range, three of whom made offers on the five-bedroom home.

Agent Matt Lancashire of Ray White New Farm, who also sold 14 Sutherland Avenue, Ascot, at the start of the pandemic for more than $13 million, with colleague Hamish Bowman, said buyers at the top end were not prepared to wait out COVID-19 to secure their luxury homes.

“The depth of the Brisbane market within that price point at the moment is mind-blowing,” he said. “You would have thought people were not buying because of COVID-19, but we have more buyers now than we’ve ever had.

“It comes down to people wanting to travel but being restricted for a few years, so people want to upgrade their homes.”

Manly has seen a surge in million-dollar sales because of the lifestyle.

Place Manly agent Marc Sorrentino works across the bayside suburbs of Wynnum, Manly and Lota, where his sales average $1 million, with demand driven by locals from Brisbane suburbs such as Ascot, Bulimba, Bridgeman Downs and Hawthorne.

“With COVID-19 people have re-evaluated their lifestyle and they’re saying well if I am going to be working from home, wouldn’t it be great to look at water views or have seabreezes. It’s booming; a classic case of supply and demand. There’s not a lot of stock but a lot of demand,” he said.

SELECTED BAYSIDE SALES:

279 The Esplanade, Wynnum: $1.03m

109 Carlton Terrace, Manly: $1.3m

537 Royal Esplanade, Manly: $1.012m

43 Waterloo Esplanade, Wynnum: $1m

25 Waterloo Esplanade, Wynnum: $1.925m

(Source: Marc Sorrentino, Place Manly)

Mr Sorrentino said the demand was highest for blocks of land in seafront suburbs, which are being snapped up for more than $1 million.

“I’ve just sold one under contract for $1.95 million and that’s literally a knockdown. Over the COVID-19 period people have been buying waterfront blocks between $1 million and $1.3 million. Typically someone spending $1 million on a block of land will spend $1 million on construction and so these will be $2 million properties.”

He said the world had pivoted with more people working from home, with many who can afford to choosing lifestyle over proximity to the city.

“Being close to the city is not important. Now it’s the house, the neighbourhood and what that community has to offer,” he said.

“Over past couple of months, buyers and sellers have been confused about what COVID-19 means for property prices. What we’ve found is property prices have gone up and our business has nearly doubled in that time.

“Where there were once thoughts of doom and gloom for property off COVID-19, the opposite has happened. Where they live is highest on the list of priorities. Because people are spending more time at home, it’s become really important. It’s also a worldwide phenomenon that people are upgrading their houses and making lifestyle choices now.”

Leo and Tafline Bandiera with Louis and Bentley at their home in 90 Mountjoy Terrace, Wynnum which is listed for offers over $2.2m. Picture: Tara Croser.

Tafline and Leo Bandiera, whose Build Prestige Homes business has seen strong demand, have put their own stunning at 90 Mountjoy Terrace, Wynnum, on the market for offers over $2.2m.

“We have been receiving a steady and consistent number of inquiries from people wanting to build new homes and complete large scale renovations. Nothing has really changed for us with the pandemic and work is consistent,” Mrs Bandiera said.

“We are very confident in the product we have built and the suitably of this home in this neighbourhood. It is a quality, luxury home that has been custom designed for this lot over three levels to maximise and capture the sweeping views of Moreton Bay and the islands complete with high end, classic, timeless detail. Wynnum/Manly has in the past been undervalued in the property market but it has so much to offer.”

This home at 90 Mountjoy Terrace, Wynnum, is on the market for offers above $2.2m.

Build Prestige Homes built this home in Wynnum which is on the market.

“We are actually about to start building another house of the same calibre in the next few weeks,” she said. “We have had a number of inquiries to build luxury homes in this neighbourhood and we are currently looking for our next development property in this neighbourhood.”

The most common features wanted in luxury homes they build, at a minimum, she said, were classic detailing, traditional glazing bars on the windows, french doors, natural stone tiles and cladding, custom detailed arbour features, external mouldings, interior wall panelling, high raked ceilings, VJ panelling, cobblestones, staircase with timber treads, white risers and substantial newel posts, classic pendant lights and chandeliers, open plan layout, a large kitchen with butler’s pantry, built in cabinetry, fireplaces and smart home integration for voice controlled lighting, reliable security and easy access control.

SELECTED CITY SALES:

Mirvac’s PIER building, Newstead, $7m plus apartment sale

Mirvac’s Cutters Landing building, waterfront apartment, $4.81m

562 London Rd, Chandler $confidential (Over $3.85m)

50 Kingsholme St, Teneriffe $2.7565m

57 Double Jump Rd, Redland Bay $2.7m

36 Twelfth Ave, St Lucia $2.6m

32 Joynt Street Hamilton $confidential

54 Retreat St, Bridgeman Downs $2.27m

6 Refinery Pde, New Farm $2.05m

91 Villiers St, New Farm $1,860,000

2/47 Collings St, Balmoral $1,840,000

78 Prospect Tce, St Lucia $1,780,000

(Source: Christine Rudolph, Ray White New Farm update)

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The post Lockdown lifts luxury home sales: ‘Top end of the market is on fire’ appeared first on realestate.com.au.

Just days into this year’s Block and the contestants already have had a window into the stress and pressure of trying to turn a bombsite into a decorator’s dream house.

While some, like Tash and Jimmy and Jade and Daniel, rose to the challenge with a well-organised plan of attack, others like father and daughter duo, Harry and Tash and husband and wife Sarah and George, had a baptism of fire.

MISSED EPISODE 1? Catch up with our recap

With the judges scores in on the beach box challenge, the contestants were finally able to find out the addresses they’d be calling home (and torturous toil) for the next few months.

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Jimmy and Tam’s slice of the Sunshine Coast won over the judges.

Jimmy and Tam wowed the judges with their styling and workmanship and got the first pick of properties; House 5, a 1950s home which is at the far end of the site.

Daniel and Jade chose next, securing House 3, which was originally built in the 1930s.

With their top pick now occupied by Jimmy and Tam, Jasmin and Luke swooped on House 4 instead, which shattered the dreams of George and Sarah who believed the 1910 property was destined for them.

Poor George and Sarah instead took on House 2, a 1940s period home.

They had thought House 4 had their name all over it — literally. When they spotted an old newspaper article, which mentioned the George Hotel, on the home’s floorboards they believed it was an omen. It seems fate, and some bad decisions on the beach box challenge, had other plans, leaving Sarah in tears… again.

Sarah and George’s glorified cell block cost them the house they thought they were fated to have.

Harry and daughter Tash drew on their Greek heritage with their blue and white beach box, but it didn’t bring them any blue ribbons.

Their dodgy workmanship left them the last pick of the daym but the pair had the last laugh, however, as the 1920s house that nobody else wanted (House 1) was in fact their first choice.

The contestants didn’t get too long to celebrate (or bemoan) their property picks because it was time to get down to the business of clearing out the debris to begin work on the guest bedroom.

Host Scott Cam also advised the shell-shocked contestants that this year they would be given a weekly budget as opposed to a huge lump sum at the start of the project to spend at their whim.

Jimmy and Tam won the 1950s House No. 5.

Clearly the producers are eager to avoid a repeat of last year when the contestants overspent and were left with next to nothing in the kitty to finish the final rooms.

Within minutes of opening the front door on their new home, a flabbergasted Harry and Tash were expected to make major decisions about their bedroom floorplan as the cabinet-makers from Kinsman arrived to take measurements for the built-in wardrobes.

“We had five minutes to decide where our wardrobes will go and the style of them without having had any time to make a plan,” a stunned Tash explained.

“Big decisions, first thing Monday morning having not even had time to stand in the room and get a feel for the room.”

Tash and Harry discover they have a window where they thought they had a wall.

Soon Tash is spiralling into tears because, after a quick Google investigation into 1920s homes, she is overwhelmed and fearful about how to incorporate the period features into a modern aesthetic.

Worst of all, she fears that she may have to resort to using stained glass windows in the renovation. Heaven forbid!

Speaking of windows, the non-stained-glass variety shattered Tash’s guest bedroom lay-out. Realising she hadn’t read her plans properly and not accounted for an extra window in her floorplan, she was forced to rearrange everything she achieved on day one, including those pesky early morning wardrobes.

Unfortunately, despite a barrage of calls to Kinsman accommodating the unseen window would now mean her wardrobe doors would collide with the door to the bedroom itself unless she made them significantly smaller. Tash was devastated and frustrated by her dad with his “she’ll be right” attitude. Harry was worried whether The Block would take a toll on his little girl’s mental health.

Coming last didn’t stop Harry and Tash getting the 1920s House No 1 they wanted.

George and Sarah also fell at the first hurdle, realising they’d put the wrong insulation batts in their ceiling and would need to redo the whole thing, putting them behind on the job yet again.

Next door, a more organised Jade, had already cleared a room to use as her control centre for the project, complete with a desk and inspirational architectural drawings posted on the walls.

More than $1 million in debt after drought and bushfire ravaged their farming property Jade and Daniel are throwing everything they have at this competition.

They tearfully revealed they have another motivation for going on The Block. Their youngest daughter suffers from a rare disorder that has required a lot of costly intervention to help her survive and thrive. They hope The Block will bring them more financial security to support her and enjoy time together as a family.

Second place getters Daniel and Jade chose the 1930s House No 3.

It was full steam ahead at House 5 too.

Fresh from their beach box victory, Tash and Jimmy believed they have come up with another winning move for their Palm Springs-inspired guest bedroom that involves hiding the entrance to the ensuite behind a wardrobe door.

It’s not exactly a gateway to Narnia, but their bathroom inside the wardrobe is sure to impress storage loving judge Shaynna Blaze (as long as it doesn’t come at the expense of hanging space).

MISSED AN EPISODE?

Episode 1 recap: The tears started early on The Block 2020

The post The Block 2020 episode 2 recap: How coming last saw Harry and Tash get everything they wanted appeared first on realestate.com.au.

42 Vaucluse Road, Vaucluse, last traded for $11.7m seven years ago.

The beautiful Vaucluse home of the late Akihiko Terada, who was chairman of the Japanese medical and healthcare services company Nichiigakkan, is set for a September 19 auction.

The five-bedroom, six-bathroom home with four-car garage at 42 Vaucluse Road, which has a pool, tennis court and uninterrupted iconic panoramic harbour views, last traded for $11.7m in 2013.

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The Sotheby’s managing director, Michael Pallier, isn’t quoting a price guide this time round, though the $15.6m sale of the 20 Ray Avenue home of former Westpac banker Brian Hartzer, that sold to dentist Vincent Phung in April, is one reference point.

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The heated indoor/outdoor pool is one of the highlights.

Another is the championship tennis court.

And the $13.2m sale of developer Robert Burger’s home with jaw-dropping views at 7 Fernleigh Gardens, Rose Bay, to an Australian-based Chinese family in June, is another.

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Burger house sells in low-$13m range

Terada’s architect-designed home was only four years old at the time of the 2013 purchase.

His Bloomberg profile indicates he was a representative trustee of the Australian Labradoodle Association in Japan.

He passed away at the age of 83 last September from pancreatic cancer.

The has a range of living spaces and one of the highlights is the indoor-outdoor heated lap pool.

Ample room to dine indoors …

… or outside.

The extensive use of glass allows most rooms to have views of the harbour or the home’s lush tropical landscaped gardens.

There are separate formal and casual living and dining areas, and walls of glass opening to an alfresco terrace.

Each of the four upper level bedrooms is its own private suite, with the master featuring superb harbour vistas and an opulent Travertine finished open ensuite.

The downstairs area features guest accommodation, a wince cellar and a poolside lounge.

The kitchen is finished in marble and equipped with Miele and Gaggenau appliances.

The post Vaucluse home of late Japanese businessman Akihiko Terada has double-digit price expectations appeared first on realestate.com.au.