IMAGINE Buying a “home” for less than $150,000 just 10 minutes from the centre of Hobart.
OK sure, this one is not your traditional bricks-and-mortar investment, but this tiny house can take you anywhere, on water at least.
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TASMANIANS are pocketing more of their income with mortgages and rents becoming more affordable.
But the number of local first home buyers decreased significantly in the June quarter, down 8.2 per according to the latest REIA Housing Affordability Report.
But there are signs that dismal figure is turning around, according to Master Builders Tasmania.
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Building approvals data for July, which were not counted in the June quarter figures, shows that buyers are starting to take advantage of the generous government stimulus packages, which could total as much as $45,000 thanks to the Tasmanian Government’s $20,000 first home buyers grant and the Federal Government’s $25,000 HomeBuilders scheme.
Those financial incentives are also on top of the First Home Loan Deposit Scheme and various state concessions.
1st year carpenter apprentice Oscar Bresnehan (front) with Master Builder’s chief executive Matt Pollock and 3rd year carpenter builder’s apprentices Joel Millhouse. Picture: RICHARD JUPE
“Dwelling approvals totalled 321 in July, a jump of 50 per cent compared to June, and 28 per cent above the total number of dwelling approvals in July 2019,” Master Builders Tasmania executive director Matthew Pollock said.
“HomeBuilder has boosted confidence in the residential sector which is starting to show up in the approvals numbers.
“We should see more HomeBuilder supported activity showing up as new dwelling approvals towards the end of the year.”
generic pic of builder inside new house under construction
In the June quarter, first home buyers in Tasmania made up a tiny 1.9 per cent of all first home buyers in Australia, according to REIA.
The average loan to Tasmanian first home buyers also increased to $303,089, an increase of 0.3 per cent over the quarter and an increase of 1.7 per cent compared to the June quarter 2019.
Mr Pollock said low interest rates were also helping to boost the debt servicing capacity of Tasmanian households.
“Which means for those with the required savings it’s still a very good time to be investing in that new home.” Mr Pollock said
Wilson Homes CEO Tim Ribbons said the market tightened significantly in March and April, the height of the lockdown, but picked up significantly in July.
He said the government stimulus packages had boosted confidence in buyers and the industry, with Wilson Homes now expecting to post a record-breaking year for new home deposits.
“In June we took 27 deposits. In July and August we have taken about 150,” he said.
Mr Robbins said first home buyers made up about 75 per cent of those new home deposits.
“Around Hobart they are looking at Brighton, Kingston, Austins Ferry,” he said. “Elsewhere its places like Devonport and around Launceston.
“Compared to this time last year (before COVID-19) we are well up.”
Meanwhile, the REIA report also found that rents in Tasmania had become more affordable over the last quarter, with the proportion of income required to meet median rents decreasing to 28.5 per cent, a decrease of two percentage points over the quarter and a decrease of 1.4 percentage points compared with the June quarter 2019.
This is believed to be the result of more properties entering the rental pool due to the impact of closed borders on short-term accommodation providers such as Airbnb, forcing more stock into the market.
Nationally, REIA president Adrian Kelly said rental affordability had improved in both the June quarter and the past year.
“Rental affordability has not been this high since December 2007, a positive for renters in these COVID times,” he said.
In terms of mortgages, the proportion of income required to meet home loan repayments in Tasmania also decreased to 29 per cent, a drop of 0.6 percentage points over the quarter but an increase of 1.7 percentage points from the June quarter 2019, according to the REIA report.
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Adelaide’s north is home to the highest yielding suburbs across Australia’s capital cities, new data shows.
Househunters looking for an investment property with a promising rent return should consider buying in Adelaide’s north.
All but two suburbs on the list of top 10 highest yielding areas across Australia’s capitals are in the city’s northern region, according to latest realestate.com.au.
Elizabeth Downs, which has a median house price of $190,000, topped the list with a 7.9 per cent yield, followed by Elizabeth North ($158,000 median and 7.8 per cent yield) and Elizabeth South ($172,000 median and 7.7 per cent yield).
Davoren Park ($175,000 median and 7.4 per cent yield) and Smithfield Plains ($186,000 median and 7.3 per cent yield) rounded out the top five.
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In comparison, Greater Adelaide has a median house price of $480,000 with a rental yield of 4.23 per cent.
Chief economist at realestate.com.au Nerida Conisbee said with capital growth so uncertain in the current market place, many investors were focusing on rent returns.
“The areas that continue to see the highest yields in Australia are dominated by the Elizabeths in northern Adelaide,” she said.
“Even close proximity to an Elizabeth will give you a high yield.”
However, she warned high yielding suburbs often had both low capital growth and rental demand.
The Elizabeth Downs house at 18 McCullogh Street, which is currently being rented out for $250 per week, is on the market with a $199,000 to $219,000 price guide. Pic: realestate.com.au
But LJ Hooker Craigmore/Elizabeth investment manager Benjamin Watkins said they were often inundated with applications for rental properties in the northern suburbs.
With plenty of development over the past few years, he said more people were attracted to the area and there was a wide range of property on offer, from older homes to newer ones.
“We’ve always had strong competition,” he said.
“And that area covers so many demographics, from affordable to middle class (properties).”
As an investor in the area himself, Mr Watkins believed it was a good area to buy an investment property.
HIGHEST YIELDING SUBURBS IN AUSTRALIAN CAPITAL CITIES
(Suburbs, state, median house price, yield)
1. Elizabeth Downs, SA – $190,000, 7.9%
2. Elizabeth North, SA – $158,000, 7.8%
3. Elizabeth South, SA – $172,000, 7.7%
4. Davoren Park, SA – $175,000, 7.4%
5. Smithfield Plains, SA – $186,000, 7.3%
6. Elizabeth Park, SA – $201,500, 7.2%
7. Elizabeth East, SA – $212,500, 7.2%
8. Zuccoli, NT – $225,000, 7.1%
9. Bridgewater, TAS – $285,000, 6.9%
10. Elizabeth Grove, SA – $225,000, 6.8%
(Source: realestate.com.au)
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This house at 2/56 David Low Way, Sunrise Beach, has sold for $10m.
RENOWNED building designer Paul Clout has sold his jawdropping beachfront Sunshine Coast home for $10 million — the latest in a string of big sales in Noosa’s red hot property market.
The three-level house at 2/56 David Low Way, Sunrise Beach, is in the exclusive Beaches estate and offers direct beachfront access from a private gate and ocean views from almost every room.
The view from the living area of the home at 2/56 David Low Way, Sunrise Beach.
The sale was negotiated by Cameron Urquhart Tom Offermann Real Estate, who said properties in the gated estate rarely came up for sale because they were so tightly held.
“There are only eight properties and discerning purchasers are seeking ultra-luxury right on the beach, such as this 2018 HIA Sunshine Coast House of the Year,” Mr Urquhart said.
Paul Clout designed this at home at 2/56 David Low Way, Sunrise Beach.
The house was designed by Paul Clout for himself and his family to live in and has three large bedrooms, four bathrooms, plus an office.
The home has multiple living areas covered in American oak floors and a statement Statuary marble feature wall with a huge integrated fireplace.
Every room in the house has ocean views, except the study.
Sliding doors open out to the terraces around the wet-edge pool, spa, conversation pit and alfresco.
The kitchen features an island bench and a butler’s pantry in Statuary marble, 2-pac cabinetry with American oak doors and panels, and integrated appliances.
The pool area of the home at 2/56 David Low Way, Sunrise Beach.
The master suite has a terrace and an open ensuite with a free-standing, oval bath tub, double shower and walk-in wardrobe.
The other bedrooms also have open bathrooms with baths and kitchenettes.
Building designer Paul Clout has just sold his Sunrise Beach home for $10m. Picture: Drew Fitzgibbon.
There’s even a rooftop terrace, offering panoramic views from Lions Head in the Noosa National Park to Mooloolaba and beyond.
The home has been fitted with the latest home technology, custom-built features and high-end finishes.
The impressive open plan kitchen and dining area.
Tom Offermann Real Estate principal Tom Offermann said the property sold to an interstate buyer after attracting interest from overseas expats and multiple virtual tours.
“As you would expect with a designer’s own home, it integrates perfectly with the seascape and the elements,” Mr Offermann said.
“It’s a house that flows beautifully … without being too big and having too many bedrooms which are never used.”
Mr Offermann said he believed the effects of COVID would last many years, in terms of the change to people’s thinking about how they invest their money.
The bedrooms come with open bathrooms and freestanding baths, plus balconies of course.
“Some people who’ve been really successful are now saying; ‘Damn, I’m just going to spend it on myself, while others are saying; ‘I don’t want to live in a big city anymore’, or ‘I won’t be going overseas so I’ll invest in a holiday home,” he said.
“A lot of decisions are being driven towards investing in locations like Noosa.”
The home is of contemporary design, with premium finishes and custom-built features.
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No. 3A Mullen St, Balmain, is perfect for the cinema fan.
A converted Balmain semi is shaping up to be the perfect place to isolate from coronavirus over the summer months.
With an outdoor cinema and fire pit, the new owners of 3A Mullens St, Balmain, will no longer need to worry about battling the crowds at Sydney’s popular moonlight cinemas.
The three-bedroom property is being sold by Project One project director Elena Chakar, and ADM Capital investment director Damon Petrie.
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How’s the serenity!
Under their ownership, the couple have transformed an original weatherboard cottage into two, two-storey semis, with the other one selling in 2017 for $1.9 million, according to CoreLogic.
Listed with McGrath Balmain’s Scott Bunnell and Cindy Kennedy, the semi is set to go under the hammer on September 12 with a $1.8 million price guide.
The family residence is equipped with high end contemporary finishes and is perfect for the entertainer, with a spacious open plan kitchen and living area flowing out to the rear.
The kitchen has stone benches.
The living room with a sandstone wall is connected to the rear courtyard.
Ms Chakar said the home has been designed with entertaining in the mind, with the backyard centred around the projector wall.
All of the three bedrooms feature built-in wardrobes, with the main also having an integrated ensuite bathroom with a rain shower. Smeg gas appliances, a walk-in pantry and stone benchtops can be found in the kitchen, while a stylish wooden wine cellar is located beneath the staircase.
The bathroom is integrated into the main bedroom.
The wine is kept below the stairs.
While the backyard cinema is bound to be popular with both kids and adults throughout the summer months, there is also established gardens, a water tank and a barbecue deck outside.
The listing comes as the inner west auction market continues to see a buyer resurgence. An analysis of CoreLogic’s auction reports found the clearance rate in the Sydney region has been above 75 per cent for the past three weekends, with the strongest rate of 89.5 per cent achieved a fortnight ago.
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88 Ryrie St, Geelong, is for lease. The building is opposite the old Geelong post office, which is set to be partially redeveloped as a hotel and hospitality complex.
Plans for a hotel and hospitality complex at the old Geelong post office will give confidence to businesses operating on Ryrie and Gheringhap streets and improve links with the Geelong Arts Centre, commercial property agents say.
Geelong’s council squared away a deal to sell the landmark to Geelong CBD developer-landlord Bill Votsaris’s Batman Management Group.
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Geelong’s council has sold the city’s old post office to a property developer.
Mr Votsaris’ plans would offer a boutique hotel and a wellness centre, a restaurant, rooftop bar, cafe, and public artwork.
The development would reinstate the grand entry on Gheringhap Street.
The original 1890 fabric of the post office, and the 1910 clock tower, would be retained, while a 1960s addition to the north would be demolished, making way for a detached building on the same site.
A drawing of the proposed development of the old Geelong post office.
Geelong’s council sold the building through a two-stage process lead firstly by Colliers International, Geelong agents that attracted extensive interest, including “four of Melbourne’s most active historic developers of retail and hospitality venues”.
Colliers agent Ben Young said the development would be a great outcome for the CBD.
“I think it’s outstanding what his plans are for the site,” Mr Young said.
“It’s going to really link the Geelong Arts Centre precinct with the CBD into Little Malop Street and to the core of the CBD.
“It feel it’s on the back of the success of Little Malop Street starting to branch out a little further right through Ryrie Street and up to Gheringhap Street.”
A sandwich bar is set to replace The Rio coffee lounge on Ryrie Street. Picture: Glenn Ferguson
Gartland Property, Geelong agent Adam Farrell said the development would inject confidence for business owners who are shaping that section of the central business district.
Food businesses like Augustus Gelatery and Asian barbecue restaurant Sumi had opened, while the owners of Popcultcha were preparing to relocate to the Griffiths Bookstore building, he said
“I believe that little pocket is now starting to take shape.
88 Ryrie St, Geelong, is for lease.
“That’s only going to enhance that position and give those businesses in and around there more confidence,” he said.
Mr Young said a new tenant has signed a long-term lease for the former Rio Coffee Lounge site, opposite the old post office.
“He’s going to open that up as a sandwich bar and is currently going through a renovation and fit-out,” Mr Young said.
“It’s going to be good. Fresh ideas, modernise the place.”
88 Ryrie St, Geelong, is for lease.
Attention then turns the southeast corner of the intersection where real estate agency Hocking Stuart has closed.
Mr Farrell is handling the leasing campaign for the two-storey building at 88 Ryrie Street, asking $48,000 a year, plus GST and outgoings.
He said despite an initial retail inquiry, the building was best suited to a service industry, like a real estate agent, accountant or financial planner seeking maximum exposure.
“You can’t beat that corner for exposure,” he said.
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323 Belmore Road, Balwyn North has hit the market.
Designed around a horizon-edge pool so almost every room has water views, this Balwyn North dream home is making a splash on the market.
The property was built four years ago by custom home builder Latitude 37 as their Horizon display home, meaning it has never been lived in and features a raft of luxury features.
The four-bedroom entertainer at 323 Belmore Roadis on the market with a $3.5-$3.7m price guide.
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The grand four-bedroom pad has a $3.5-$3.7m price guide.
There might have to be a ‘no bombs into the pool’ rule during dinner.
The design is certainly striking.
Latitude 37 chief executive Nick Warren said buyers would have glimpses of the pool from each room.
The main bedroom has a door that opens directly out to the pool, perfect for a dip to wake you up each morning.
Even the dining room has bi-fold doors, which open to allow you to sit poolside.
“(It’s) not so good if little Jimmy does a bomb while Nan is trying to enjoy her lunch,” Mr Warren said.
“But it creates that enormous space that really gives that feel of openness and creates that real entertainment space.
“The pool reflects more light into the home, making it a super bright space.”
Windows for your feet.
Straight out of bed and into the pool.
Four ovens will make entertaining a breeze.
The main living area has an open-plan design.
Multiple fireplaces, a large cellar, double-height ceilings and an opulent main bedroom suite with a private living room are highlights.
“This is a display home that has really stood the test of time,” Mr Warren said.
“This really demonstrated the custom nature of what we do. It’s on a block with a significant amount of fall and we designed a bespoke home that really ties in with the block.
“You can’t replace this home on any other block.”
The property is on the market through Fletchers Balwyn North agent Daiman Kane.
Business casual.
There are fireplaces throughout the home to keep it cosy in winter.
And of course there’s a luxe spot to store wine.
Balwyn North’s median house price sits at $1.873m, according to realestate.com.au.
The suburb record was set last year with the $7.3m sale of 8 Agnes Avenue.
The record holder, known as a multi-millionaire’s playground, features two infinity pools, a massage station, nightclub-grade bar, games arcade and 25-seat cinema.
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Jordan Lewis is enjoying the good life.
Jordan Lewis is a former Hawthorn and Melbourne AFL player, footy commentator, part-time coach at Melbourne, winemaker and Pentridge Cellars ambassador.
Where do you live?
In Glen Iris with my wife, Lucy, and three boys in a double-fronted Victorian house we bought in 2014. We love the area. It’s family friendly, with great parks close by.
What property do you own?
I have never owned investment properties. I have taken the approach to pay off my own home as quickly as possible, which has allowed me to invest in other opportunities, such as recently co-founding Mornington Peninsula wine label DML.
What do you love most about your home?
I love the homely feel my wife has created. At the same time, there is still enough space for the boys to run around and expend energy. We are also so lucky to have great neighbours and live on a street full of lovely people.
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One thing you’d change?
Lucy would love to modernise the kitchen and build a second storey once the kids are a bit older. It would be great for the boys to have their own getaway as brothers.
First foot on the property ladder?
I bought a single-fronted Victorian home in Hawthorn East around 2010. My wife and I had missed out on a few properties beforehand, but this one was perfect for us – we were rewarded for being patient.
Are you a keen or reluctant property buyer?
I love property but I hate the process of buying, including turning up to houses for an open for inspection with 20 other couples. I enjoy going to home inspections now, purely to see if we could incorporate anything in our home. They can be great for inspiration.
How many homes have you ever bought and ever sold?
I’ve bought two houses, and probably wouldn’t look to buy any more, and sold one, in order to buy our current home.
Highlights of your property journey?
The auction of our first home. The buzz on the day was memorable and there was no better feeling once it had sold.
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Jordan Lewis at Pentridge Cellars.
Best property advice you’ve heard?
Instead of spending money to renovate a property on a small block, think about investing the money to buy a house on a bigger block and then renovate that when you can.
Tips for homebuyers?
Be patient and set a budget. I was always disappointed when we went to an auction and missed out on a property. But, looking back now, we definitely ended up with the better property. Everything happens for a reason.
Future property plans?
We were originally going to renovate and put in a wine cellar, but I have recently bought a cellar at Pentridge Cellars, so I won’t need to do that anytime soon.
The post Jordan Lewis Home Truths: ‘There was no better feeling’ appeared first on realestate.com.au.
Jockey Glyn Schofield has listed in Tamarama. (AAP Image/Simon Bullard)
Veteran Sydney jockey Glyn Schofield has listed his investment apartment in Tamarama.
It goes to September 26 auction through Riki Tawhara at Sydney Sotheby’s International Realty with $2.5m hopes. Schofield paid $2.3m in 2017 for the three-bedroom, two bathroom apartment.
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Schofield has had a successful career spanning two decades. (AAP Image/Simon Bullard)
The most recent asking rent was $1450.
With a large balcony, just 200m from the beach, he initially sought a $1500 a week tenant, reflecting a 3.4 per cent yield.
His most recent asking rent was $1450.
Spanning 120sqm, the apartment with a Scandinavian influence, is set in the Pertama complex, which comprises two apartments per floor, designed by Marchese Architects.
It has 120sqm of space.
One of the three bedrooms.
Schofield, who had three rides at Rosehill yesterday, has secured over $55m in prizemoney for his owners over his illustrious two decade career.
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Luke and Jasmin start and end these episodes still mired in a world of pain.
Luke starts the ball rolling with a blow up with foreman Keith, who slams Luke’s builder’s work as “pathetic”, “crap” and “done by five-year olds”.
It would be hard for anyone to take, but given Luke is a carpenter himself, the criticism doesn’t go down well.
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Keith — whose main role seems to be deliberately needling contestants into arguing with him — then suggests they sack their builder, despite the fact he had been the builder on a previous Block-winning house.
Keith relishing telling Luke his builder’s work is “pathetic”
Luke is steadfast in his loyalty, but an error with a shower floor and a scheduling snafu sees the couple paying three plasterers a total of $1,700 for sitting around on the footpath waiting for an opportunity to plaster that never comes, so maybe Keith had a point.
Either way, it all comes to a head when Keith pulls Luke up for cutting cement sheeting without a dust extractor and threatens him with a dreaded “reinduction”, which would shut his site down for an hour.
“It just seems like every moment Keith is trying to stop me progressing,” Luke says.
Keith is having none of it and is quickly doing his well-oiled “I’m the foreman on this site, show me some respect” routine. (See The Block 2019, 2018, 2017…).
“I’m used to being my own boss and running my own tight ship, and I’ve got to adjust to that,” Luke eventually concedes.
What Luke and Jasmin still can’t seem to adjust to is the fact they’re renovating a 1910 house. Even a special visit and coaching session from judge Darren Palmer doesn’t seem to help matters. He takes them to a spectacular Federation home and they seem inspired, but despite the fact he tells them he thinks the vanity they’ve chosen for this week’s guest bathroom might not be right, they vow to press on, believing even if they don’t impress the judges, they’ll impress a buyer.
“My gut instinct is telling me to do what I love,” Jasmin says.
Also in pain, but for reasons more important than vanity choices, are Daniel and Jade.
Daniel has received news that his beloved grandfather has died. It wasn’t unexpected but watching the pair support one another in their pain is genuinely moving. They are determined to fly home to SA to attend the funeral and be with the family, and almost as moving is Scott Cam’s decision to let Keith and Dan supervise their trades, and even pick up a paint brush, to ensure they still finish their room.
Daniel and Jade after hearing the news that Daniel’s grandfather had died.
Harry and Tash finally get some good luck with a tiler, after three long days of setbacks. After struggling to lock one in they had thought they’d finally struck lucky with Mohammed, who went through the induction process and got his mug on TV, but on the day he was due to work, turned off his phone and failed to show. Luckily yet another ring around produced replacement Sam, who saves the day.
A freak thunderstorm, which dumps 55mL of water on Brighton, sees two houses bearing the brunt. Jimmy and Tam, and Daniel and Jade’s bathrooms are both swimming pools by the morning, and given they had asked Keith’s team to put tarpaulins up and been knocked back, it’s up to Keith to fix it.
Daniel mops up his flooded bathroom.
He apologises to both pairs, who show the kind of understanding Keith would never show them for a similar error, and the rooms are quickly cleaned up and reinspected.
Jimmy and Tam are continuing to cement themselves as The Block 2020’s teacher’s pets.
Scott Cam is so sure they’ll finish their bathroom a day early he books them a Saturday lunch on him, and Keith almost swoons when he sees Jimmy getting ahead on demolition work in the rest of the house while he’s waiting for his waterproofing to dry (all within the rules provided they don’t start any actual construction).
The pair have found an incredible green rectangular basin and are designing their room around it, and Scott Cam has picked them as the winner before it even goes in.
Shelley and Scott admire Jimmy and Tam’s perfect basin.
This week the teams also find out about two Block twists. This year, with Scott Cam handing out their budgets weekly as opposed to in one lump sum, there’s not so much room for extravagance, but he’s made an allowance for one big splurge per team. Each team can come to him once during the competition to pitch a game-changing idea, and if he approves they’ll get the cash to do it.
And the all important auction order will be decided in a new way too: the team which gets the most points from the judges over the course of the entire season decides. It’s Jimmy and Tam’s to lose.
MISSED AN EPISODE?
Episode 5 recap: ‘I’m mourning’: Jasmin’s emotional breakdown
Episode 4 recap: Luke and Jasmin’s big stuff up
Episode 3 recap: “So two years ago”. Team’s boring room slammed
Episode 2 recap: Disappointment as Block houses are handed out
Episode 1 recap: Block 2020 tears start flowing early
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