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Ring road precinct: 87-91 Prosperity Drive, Corio, has sold for around $1 million.

JOB creating developments in greenfields industrial land hugging the Geelong Ring Road continue as another land sale was chalked up in the city’s northernmost suburbs.

A Geelong buyer paid around $1 million for the 8026sq m industrial land at 87-91 Prosperity Drive, Corio, eyeing plans to develop the site.

Darcy Jarman selling agent Tim Darcy said logistics hubs, factories, warehouses and other facilities had taken shape in the past few years in the estate along O’Briens Rd between Bacchus Marsh and Broderick roads.

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Mr Darcy said the development was largely built on Geelong’s growth, while the estate’s position at the northernmost suburb giving occupants ideal access to Melbourne’s western growth areas.

The month-long private sale campaign generated interested from developer-investors and owner occupiers, he said.

“Geographically it’s the most northern point in an industrial sense to Melbourne’s south and sit’s right on the ring road,” Mr Darcy said.

Ring road precinct: 87-91 Prosperity Drive, Corio, has sold for around $1 million.

While logistic benefits play a part, Mr Darcy said the large sites had allowed businesses, local and from afar, to build to their own specifications.

“You can’t find an 8000sq m site in infill parts of Geelong,” he said.

Mr Darcy said a lot of the recent development was in the construction industry, including civil contractors and builders.

“That’s what is driving the area in terms of our growth,” Mr Darcy said.

The Prosperity Drive site offers a 142m frontage to the street, which runs off O’Briens Rd and neighbours Ritchie Bros auctioneers and phosphate fertiliser firm Wengfu Australia.

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Homeowners in some of Sydney’s most sought after pockets have been reselling their properties for an average of $1.3 million above the prices they paid for them, a new study indicated.

The CoreLogic pain and gain report examined the average profit home sellers made in various city markets over the first three months of the year and revealed most long-time owners had considerable equity in their properties.

“Profit” was measured as the average difference between the price they paid for the property and the resale price.

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By this criteria, the majority of Sydney sales were profitable. Only 7.6 per cent of sellers made a loss on their properties.

Resellers made the biggest profits on the northern beaches. The median resale profit was $1.31 million. The length of ownership for these sellers was just under nine years.

Sellers in the Blacktown council area also got well above their purchase prices: the median resale profit was almost $630,000, with the average hold period for the property at eight years.

The average northern beaches home seller got about $1.3m above the price they paid.

Blacktown homeowners who sold after only a few years after owning their properties tended to have a harder time making a profit.

Close to 7 per cent of Blacktown sellers made a loss on their properties and the majority had owned their homes just three years.

Other council areas where long-time sellers made big profits were the Hills Shire, Sutherland Shire and Woollahra. The median profit for these sellers was over $500,000.

CoreLogic noted the market may have shifted somewhat since the first three months of the year considering this was before the COVID-19 lockdowns, but this change may only be minor.

Sydney’s median home price fell 0.8 per cent over June and 0.4 per cent over May but grew over April and March, according to the research group.

COVID-19 has so far made more of an impact on real estate transaction volumes than prices. Picture: Tim Hunter.

Price movements have been minor largely because few properties have come up for sale, reducing the level of choice available for buyers.

CoreLogic head of research Eliza Owen said government support for struggling households, such as the JobKeeper payment, also helped to reduce distressed sales.

“The Pain and Gain results over the second half of 2020 could see an increase in the portion of loss-making sales, but the volume of sales activity may be more subdued,” Ms Owen said.

The Sydney region where sellers were most likely to make a loss on their properties was Burwood, where about a fifth of the properties changed hands for less than the owners paid. The bulk of the properties that sold for a loss in Burwood were units and there were few sales, CoreLogic noted.

CoreLogic head of research Eliza Owen.

About one in eight properties resold for a loss in Parramatta, Ryde and Strathfield, also predominantly units. Most the units were resold after about four years. Each of these areas has an abundance of new units available, particularly in high-rise blocks.

Realestate.com.au chief economist Nerida Conisbee said the larger choice of new units meant buyers could be picky and had more room to negotiate prices down.

Many of the units in these areas were also built to appeal to investors, who have been a less active buyer group over recent years due to lender restrictions, Ms Conisbee said.

Houses that appeal to families have been getting the most buyer inquiries. Picture: Tim Hunter

Other regions with higher losses were Liverpool and Rockdale, where about 10 per cent sales were at a loss.

BEST SUBURBS FOR AUCTIONS

Sellers in Cremorne, Leichhardt and Revesby were the most likely to sell successfully under the hammer over the past three months, auction sales data revealed.

Three in four auctions in these areas were a success over the period, which was significantly higher than the 51 per cent auction clearance rate reported for the Greater Sydney area, according to the CoreLogic data.

About two thirds of auctions were a success in Wollstonecraft, Bondi, North Bondi, Elizabeth Bay and Alexandria. Higher clearance rates in these areas suggested buyers were competing for a smaller pool of available properties – considered favourable conditions for auctions.

Auctioneer Michael Garofolo said scarcity factor gave auction sellers a boost.

Auctioneer Michael Garofolo of Cooley Auctions said properties that appealed to owner occupier buyers, especially upsizing families, tended to get the best results at auction.

Buyers were also willing to spend big at auction if they saw value: homes with rare features that many buyers wanted were still selling for high prices, Mr Garofolo said.

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No. 19 Scarlett St in Melba goes to auction on August 8.

Social butterflies will relish the opportunity to entertain at home in this Melba abode.

An entertainer’s dream in the truest sense of the phrase, the renovated property at 19 Scarlett Street boasts a functional alfresco area, 7.5m solar heated swimming pool and expansive pool deck.

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Set on a generous 729sqm block in Melba, the four-bedroom, two-bathroom property offers generous living areas including 162sqm of internal space that flows outside to the alfresco space with remote-controlled vergola, as well as a pool deck with a built-in barbecue, fridges and bench seating.

Everything for the family.

Relax by the pool.

Selling agent Michael Braddon, from Blackshaw – Gungahlin said the sleek, modern residence had been extensively renovated using high quality fixtures and inclusions.

“The benefit of this amazing home is that it’s turnkey, so you won’t have to spend another cent. Just move in and enjoy the resort-style lifestyle,” Mr Braddon said.

“There is plenty to enjoy. On one side of the pool is the children’s playground and on the other side of the pool is the adults’ playground really.”

A gorgeous facade.

Indoor and outdoor living.

There are two large storage rooms under the house, which could be converted to something more special, and there is a double garage as well as parking for another eight vehicles on the driveway.

Additional features include double glazed windows, ducted gas heating and evaporative cooling, under tile heating and wall and ceiling insulation.

There are also solar panels, a security system and low maintenance gardens with synthetic turf.

The property will go to auction on 8 August at 10am.

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Could this be Western Australia’s ultimate man cave?

Behind the normal façade of this family home is a showstopping 250sqm ‘mantuary’ with all the trappings including a garage, workshop and car hoist, as well as a games room with a fully equipped bar, pool table, bathroom and adjoining patio.

Selling agent Travis Grogan, from O’Neil Real Estate – Kelmscott said the property at 27 Bambee Court in Serpentine had attracted unprecedented interest and was snapped up “sight unseen” by a buyer more than 600km away after just four days on the market.

The home looks plain from the outside but is a car lover’s wonderland on the inside. Picture: realestate.com.au/sold

“The shed has definitely been a drawcard for the people coming through. There were the ones who wanted to look at the shed first and those who wanted to look at the house first. All the fellas were pretty keen to get in the shed and check it out,” Mr Grogan said.

“There’s a big workshop with a hoist and on the other side, there’s a games room with a pool table, built-in bar with built-in fridges and then a bathroom with a toilet and shower, and mezzanine storage. It’s pretty cool.

“I had over 100 people through the home open on the Saturday and the guy who actually bought it hasn’t even seen it. He’s living in Kalgoorlie and couldn’t get away from work to check it out so bought it sight unseen.

“He said if that many people were interested in it, it must be alright, so he took a punt with a cash offer. All said and done it was sold within about four days.”

The property, which attracted multiple offers and sold for $695,000, was the most viewed Western Australian listing on realestate.com.au in the week to July 16.

The novel a listing was targeted to both male and female buyers, but the man-cave factor dominated.

“I put all the photos of the house first because you have to live somewhere, but seriously, this shed is the stuff dreams are made of,” Mr Grogan wrote in the online advertisement.

He said the shed was “actually nicer than a lot of the homes I sell”.

“It’s about 250sqm and if that’s not big enough – let’s be honest, there’s always more treasures to bring home – you will love the huge mezzanine storage area.”

WA’s ultimate ‘man cave’

No one could ever get bored living in this home. Picture: realestate.com.au/sold

There is plenty of space to entertain in this ‘man cave’. Picture: realestate.com.au/sold

Work on cars and step straight into the workshop bathroom to freshen up. Picture: realestate.com.au/sold

Every treasure has a home in this fitted out space. Picture: realestate.com.au/sold

Looks plain from the outside but this home could be WA’s ultimate ‘man cave’.Picture: realestate.com.au/sold

The four-bedroom, two-bathroom house, which sits on 0.42ha, is almost secondary to the man cave, but presents beautifully with a cosy fireplace, theatre room and neat entertaining area.

“The feedback was very much to do with all the elements of the man cave,” Mr Grogan said. “People were very excited about it. In fact, even since it going under offer, I could have sold that house 10 times over. If I had more of them, I could sell them.”

The post Serpentine ‘man cave’ purchased without inspection by buyer 600km away appeared first on realestate.com.au.

Properties transformed by a sports star, a fashion designer and reality TV renovators have sold across Melbourne in the past month.

A Collingwood warehouse converted by ex-Melbourne footballer David Schwarz sold for an undisclosed price after a lengthy sales campaign.

The power forward bought the apartment inside the Foy & Gibson warehouse complex at 79 Oxford Street as a shell, before creating an incredible four-bedroom industrial pad. CoreLogic shows he bought it for $720,000 in 2000.

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Inside footballer David Schwarz’s conversion.

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The Foy & Gibson building apartment sold for an undisclosed price.

Jellis Craig Inner North agent Michael Amarant said he could not disclose the final price for the latest sale, but confirmed it was “not far off” the $2.75m asking price.

A St Kilda West property transformed by fashion designer Alannah Hill, who called it her “mini Versailles”, also recently sold for a figure kept under wraps.

Hill injected her eclectic signature style into 16 Mary Street while she lived there for about four years until 2017.

16 Mary St, St Kilda West was renovated by fashion designer Alannah Hill.

Pink floral wallpaper and bold marble feature.

Alannah Hill previously lived at the property. Picture: Serge Thomann

Luxe marble finishes, bright chandeliers, and pink wallpaper and curtains were among the striking features still on show during its latest stint on the market, with a $2.4-$2.6m price guide.

In South Melbourne, an apartment created on The Block’s 2013 series, Sky High, by Matt and Kim Di Costa sold after a price drop.

The luxe three-bedroom pad at 201/142 Park Street fetched $1.9m, after being first listed for $2-$2.2m in April.

201/142 Park St, South Melbourne was created on The Block.

It sold for $1.9 million.

Belle Property agent Stephanie Evans said the apartment still looked as schmick as it did when it featured on the small screen.

“This apartment is the only one (in the building) that has a walk-in cellar and it has the most bathrooms,” she said.

“It’s one of six in the block and the lift goes right into the apartment, which gives it a really luxurious feel.”

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The post David Schwarz, Alannah Hill and The Block properties sell appeared first on realestate.com.au.

The buyers of 38 Lang Rd, Centennial Park, have been revealed by updated property records.

Morgan Stanley banker Bryce Thompson and his JBWere analyst wife Renata Das have emerged as buyers of the $7.25m buyers of the Centennial Park home of former Wallaby Paul Darveniza.

The iconic grand residence at 38 Lang Rd, which also had a second residence behind on its 1080 block, sold for $7.25m on May 16 through Ray White Double Bay gun agent, Nic Krasnostein and colleague Alan Fettes.

The identity of the purchasers had been a mystery, but updated property records on settlement revealed Thompson and Das had made the savvy purchase.

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The main residence sits well back from Lang Rd.

The front terrace looks out over the beautiful gardens in the front yard.

Darveniza, who these days is an associate professor Paul Darveniza and neurologist at St Vincent’s, and his wife, Anne Charteris, also a doctor, are moving to a garden apartment in The Benson in Rose Bay that cost $4.25m off-the-plan.

They’d lived at in the six-bedroom home that sits behind elegant sandstone walls on Lang Rd for 23 years, with CoreLogic data showing they paid $1.6m in 1997.

Thompson and Das are likely to want to update the classic main residence, which oozes potential.

It has formal living and dining rooms as well as casual family areas.

The charming rooms in the main home ooze potential.

The main residence sits behind an imposing sandstone wall.

And there’s a sunny al fresco terrace allows for relaxed entertaining all year round adjacent to the heated pool.

The second family home has three bedrooms and two bathrooms, and would be a good Airbnb option.

Alternatively it could be a teenager’s retreat, library or gym.

There is rear-lane access to the double garage.

The second residence and the double garage, accessed via the rear lane.

An aerial view of the two residences, which sit on a 1080sq m block.

Thompson and Das are moving from Paddington — they’re upgrading from the Windsor St home they bought for $3.18m in 2015.

But it’s understood that’s not set to hit the market as the couple are keeping it as an investment property.

Darveniza was one of seven Wallabies known as the “magnificent seven”.

They’d taken a stand against apartheid in South Africa in 1971 when they refused to play against the all-white Springboks that toured Australia.

The Australian government then stopped playing sport against South Africa, only resuming in 1994 when the race rules for sporting teams there changed.

The post Morgan Stanley’s Bryce Thompson, JBWere’s Renata Das buy former Wallaby’s Centennial Park home appeared first on realestate.com.au.

Architect Alexander Michael has listed a home at Kangaroo Valley for sale.

Renowned architect Alexander Michael has listed an epic home at Kangaroo Valley made from shipping containers.

The stunning four-bedroom masterpiece has impeccable luxury finishes, solar panels and is completely off the grid.

Property records reveal Mr Michael purchased the vacant block of land on Mount Scanzi Rd at Kangaroo Valley in 2016 for a $185,000.

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The property has an industrial vibe.

It is now listed via private treaty with a cool $2.25 million price guide via private treaty with Di Jones Southern Highlands’ Michael Cawthorn.

The home takes an innovative spin on barn-style architecture and is constructed of steel, glass and polished concrete floors with an industrial feel throughout. Four containers with bright yellow doors have also been used to complete the look.

Nestled on a secluded 3.95ha block and accessed via a sealed road, the eco-friendly property also has solar panels with a battery bank and rainwater harvesting.

Luxury finishes are found throughout.

This bathroom has bath and a basin in the actual bedroom.

The pavilion-like house is the second Southern Highlands property that Mr Michael, a highly regarded architect has designed. He completed a weekender on 40ha for him and his partner Tony White nearly 15 years ago.

It has many similar qualities to this one on Mount Scanzi Rd with the use of concrete, steel and glass, plus the eco-friendly features.

The ground floor has an open plan layout with a black and chrome kitchen, vast lounge area and two slow-combustion fireplaces.

Mr Michael purchased the 3.95ha site in 2016.

The bedrooms feature a “pod” design.

Floor-to-ceiling sliding doors and glass windows allow for stunning countryside views from three sides of the house. This floor also has an atrium ceiling made out showcasing the shed roof beams and the corrugated iron roof.

Upstairs has a unique “pod” bedroom design, with all four bedrooms featuring their own ensuite bathroom, sliding glass windows and views of Kangaroo Valley. One of the bedrooms even has the unusual sight of the bath tub and basin nestled on either side of the bed.

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Walls of windows bring the outside and natural light in. Photo: Tatjana Plitt

When the owners of this Camberwell period home bought it a few years ago, they were partly drawn by the large floorplan.

But it’s safe to say they weren’t attracted to the layout, as spaces were awkwardly composed and there was no connection to the outdoors. A designated dining area was also missing, and a ’90s extension at the back wasn’t appealing.

So the professional couple, who share the house with their teenage daughter and their dog, Maisie, decided to renovate in stages.

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Period charm from the street. Photo: Tatjana Plitt

Modern luxury out the back. Photo: Tatjana Plitt

When architect Sandi Kuzman, of Kuzman Architecture, came on board for the final leg of the project, part of her design work involved gutting everything under the roof line at the rear of the house to create a new living and entertaining zone.

“The living area is quite large now,” she said. “But it has a few cosy nooks — such as the window seat that overlooks the pool — to create moments of interest, rather than having a big open space you feel lost in,”

Here, Ms Kuzman shares some of the top ideas from this smart renovation.

Slick use of black on the walls between the windows. Photo: Tatjana Plitt

Let the light shine in. Photo: Tatjana Plitt. Artwork: Sophie Perez

All fired up

The rear of the house featured so much glass, including floor-to-ceiling windows and sliding stacker doors, it became tricky to find a spot for an important item on the owners’ wishlist: a fireplace.

Ms Kuzman said a solid fireplace would have blocked natural light and a beautiful view of the garden. So, a double-sided unit, with glass to the front and back, was chosen, providing an uninterrupted connection with the outdoors.

“Even when the fireplace is not on, it’s a talking point, because you can see right through it to the garden,” Ms Kuzman said.

A contemporary timber-lined ceiling. Photo: Tatjana Plitt. Artwork: Sophie Perez

From the old to the new. Photo: Tatjana Plitt. Artwork: Stewart Westle

Mirror image

The best layout for the kitchen meant the owners would have their backs to the garden when they were washing the dishes, which they didn’t want.

Ms Kuzman tackled this stumbling block by using a large mirrored splashback behind the sink.

“This way, the splashback would reflect a view of the pool and the garden so the owners could still see outside and watch kids playing in the water,” she said.

A mirrored splashback was also installed behind the cooktop to capture another garden view.

“Wherever you stand in the kitchen, you have some connection to the greenery outside,” Ms Kuzman said.

Who doesn’t love a window seat? Photo: Tatjana Plitt

Clean lines. Photo: Tatjana Plitt

Black magic

Black has been used to highlight some of the new design elements, frame views and create zones.

“It accentuates features like the window seat, for example, as an area to relax and read a book,” Ms Kuzman said.

She explained the generous amount of natural light in the space meant the black features didn’t make the space foreboding.

“Because we have an abundance of natural light from the large expanses of glazing, we were able to introduce black to create drama and intimacy without making the space dark,” she said.

A wall of black joinery in the kitchen has effectively zoned one of the work areas and also conceals the entry to the laundry and powder room.

“The owners wanted a powder room near the dining area, but didn’t want it to be obvious, so the door was designed to blend in with the joinery,” Ms Kuzman said.

What a place to entertain in summer. Photo: Tatjana Plitt

Lush aspects. Photo: Tatjana Plitt

Vanity fair

Faced with a long, narrow powder room, Ms Kuzman devised clever ways to make the space feel bigger. They included mounting the vanity on a mirror that stretches from the floor to the ceiling.

“By using such a large mirror, we can bounce light around more to brighten the place up,” Ms Kuzman said. “And centring the basin so it’s not touching any walls or the floor really opens up the space around it.”

The long mirror is also handy for people to get dressed after a swim, with the powder room doubling as a change room for the pool.

Elegant arches. Photo: Tatjana Plitt

Timber treat

Ms Kuzman said slim timber battens were used on the ceiling above the kitchen and dining area to give this area greater identity within the open plan.

“They bring in a layer of warmth and texture and offer a refreshing break from plain white plasterboard,” she said.

Floor-to-ceiling timber battens were introduced to conceal a service cupboard near the kitchen and screen the sink from the living area.

Ms Kuzman said battens were also used for the roof of the wraparound veranda at the back and side of the house, to subtly blur the boundaries from inside to out.

“They make the spaces feel so much better connected and we get beautiful variegated light coming through into the house,” she said.

Indoor-outdoor flow. Photo: Tatjana Plitt

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kuzman.com

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The Dismal Swamp property at 264 Grundys Lane looks like it belongs in the European countryside. Pic: realestate.com.au

Overseas holidays will be off the cards for a while yet because of COVID-19, but don’t panic – one acreage estate in the state’s South East will make you feel like you’re already on the other side of the world.

The Dismal Swamp property at 264 Grundys Lane looks like a house straight out of the European countryside.

Affectionately known as The Homestead, the character home is hidden among trees on a 28.33ha block.

Ray White Mt Gambier principal Tahlia Gabrielli, who is selling the property, said the owners’ Dutch roots inspired its design.

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It has a rustic style with lots of wood and slate featured throughout. Pic: realestate.com.au

It was built almost 40 years ago. Pic: realestate.com.au

“The house has been there about 40 years and they built it,” she said.

“Even the setting is really unusual because what we have a lot of here (in the South East) is farmland.

“They have actually planted all the native trees.”

Ms Gabrielli said the owners loved the natural environment surrounding the house so decided to bring it inside as well.

“The house is very much the same – it’s got lots of different woods and slate,” she said.

It has four bedrooms spanning two levels, most of which are on one side of the house.

An open kitchen, living and dining area with fireplace is on the ground floor, while a recreation room that opens onto a balcony is directly above it.

A sunken area on the ground floor with fireplace and the handcrafted staircase built from locally grown stringy bark trees are standout features of the home.

The staircase, which was handcrafted, is one of its standout features. Pic: realestate.com.au

Ms Gabrielli said eucalypts salvaged from the Ash Wednesday fires were used to create the feature balustrade.

The property also has a workshop and garage, entertainment patio, vegetable gardens and native fruit trees.

Ms Gabrielli said it was attracting people from all walks of life.

“We’ve had local parties but we’re also getting a lot of phone calls from people outside of town,” she said.

“It’s a property I think will bring so much to someone’s life.”

Offers for the property close on August 28 at noon.

It is almost completely hidden by trees. Pic: realestate.com.au

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Finder analysed house price falls across 227 suburbs in Queensland during the early months of COVID-19.

Fresh data has revealed the suburbs where house prices fell the most during COVID-19, and the biggest drop has come from the most surprising area.

Comparison firm Finder.com.au reviewed all suburbs in Queensland to track house price changes since January this year – in the process uncovering where “deals” could potentially be found.

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“Of the 227 suburbs that had more than 20 sales and a population of more than 1,000, 41 per cent saw a decline in price in April compared to January 2020,” according to the Finder analysis.

But the biggest surprise was the suburb that saw the highest fall in house prices during that period – Hawthorne – was located in the high demand Brisbane inner ring.

Hawthorne saw its house price go from $1,460,094 in January to $962,500 in April this year, it said, a massive 34 per cent fall.

Three suburbs saw prices fall by 23 per cent: Mooroobool in Cairns that went from $385,000 to $295,000; Rangeville in Toowoomba fell from $543,750 to $418,000; and popular Gold Coast suburb Broadbeach Waters saw its house price go from $1,221,500 to $943,750 in that period.

Finder insight manager Graham Cooke said the falls came at a time when interest rates were falling.

“The value of houses has and may continue to tip lower in many suburbs, and ready buyers are taking advantage,” he said.

“For those with a mortgage already, even though your home’s value may have dropped, unless you take action, the mortgage payment will not.”

Record low interest rates are spurring on buyers.

“As budgets are crunched, a historic number of people are refinancing and getting a better deal on their largest investment.”

“Record-low interest rates and a lack of investor spending can be a boon for savvy mortgage holders.”

While the results varied widely across the state, the average change across Queensland was a 1 per cent rise in price – also a pleasant surprise given the massive impact COVID-19 has had globally.

WHERE HOUSE PRICES FELL THE MOST (OFF COVID-19):

SUBURB JAN APR DROP

Hawthorne (Brisbane) $1,460,094 $962,500 -34%

Mooroobool (Cairns) $385,000 $295,000 -23%

Rangeville (Toowoomba) $543,750 $418,000 -23%

Broadbeach Waters (GC) $1,221,500 $943,750 -23%

Runaway Bay (Gold Coast) $1,050,000 $843,500 -20%

Coorparoo (Brisbane) $1,135,000 $915,000 -19%

Lowood (NW of Ipswich) $275,000 $222,500 -19%

Palmview (Sunshine Coast) $720,000 $583,950 -19%

Frenchville (Rockhampton) $350,000 $287,500 -18%

Atherton (Tablelands) $340,000 279,750 -18%

Source: CoreLogic, Finder

*Suburb metrics: Only includes suburbs with 3 month median sales price available.

Number of sales over the last 3 months needs to be over 20

Population of at least 1,000.

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