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Just when Melbourne real estate agents thought property sales would come to a grinding halt during to stage four lockdown, a number of top sales have left some agents pleasantly surprised – and the buyers didn’t even get a whiff of the properties. 

The strict six-week lockdown to stop the spread of COVID-19 cases in Melbourne put a ban on live auctions and private home inspections, leaving agents worried that prospective buyers would shy away if they couldn’t “touch and feel” the property.

But that hasn’t been the case for Mike Beardsley, senior sales consultant at Jellis Craig, Boroondara, who has sold two family homes in Camberwell, sight unseen, during stage four restrictions.

The superb Victorian villa at 5 Kingsley Street was listed just as the stage four restrictions came into effect, meaning no one got to inspect the property. But Mr Beardsley said he never considered pulling the listing. 

“The other agents around me told me I should, but I was just very confident with the property and the style of the property that we could get a result. [Homes] always seem to go well in Kingsley Street and it’s a beautiful period home.

Buyers could not resist the old-world charm of this Camberwell home. Picture: realestate.com.au/buy

“I had 70 or 80 enquiries on it and I had one buyer from Hong Kong who’s an Australian expat looking to return. A building inspection was done and they decided to offer.”

The home sold for an undisclosed price, but Mr Beardsley said it surpassed the top of the range, in excess of $3m.

The second Camberwell home, a five-bedroom, three-bathroom abode at 5 Remon Avenue was already on the market before the lockdown, but the vendors were yet to find a buyer.

“I did have a number of buyers through before stage four hit, but we didn’t get an offer. Then stage four hit and a new buyer came along and put an offer in, sight unseen,” Mr Beardsley said.

“[The buyer] had sold and was obviously keen to secure something, and then it just came down to putting it all into perspective and looking at why [the home] was value for money and why they should take the plunge and put pen to paper.”

The family home at 5 Remon Avenue, Camberwell sold for $2.3m. Picture: realestate.com.au/sold

The home sold for the mid-range price of $2.3m.

Director at Marshall White, Bayside, Matthew Pillios, sold the family home at 166 New Street, Brighton off market during the lockdown, also sight unseen.

A local developer snapped up the home for an undisclosed price in the vicinity of $3.6m-$3.8m.

Mr Pillios said he always thought selling the property during stage four restrictions would be achievable because street and feasibility are always greater considerations than the home itself for developers – but he was still stoked with the result.

“This specific developer was one of the first ones that I rang, he had been looking for a site for a while and he really knew the area. The gift was that he actually lived within a two-kilometre radius… so he decided to walk past the house during his hour of exercise,”  Mr Pillios said.

“He walked around just to get a feel for [the site] outside, just to see what his gut thought. And then after negotiating a lot of feasibility with him, he made an offer and I negotiated it and I was able to sell it for the owners.”

Mr Pillios said the buyer is now engaging with some architects and leaning towards building a single or two dwellings.

Melbourne buyer activity is surprisingly strong

Chief economist at realestate.com.au, Nerida Conisbee, said Melbourne buyer activity on the site has remained strong during the stage four lockdown, despite fears of a dramatic slowdown.

“It shows that people see this lockdown more as business as usual and that there is a timeframe for it and they will get through it,” Ms Conisbee said, adding that interest in the higher end of the market is definitely not waning.

Melbourne buyer activity on realestate.com.au is up compared to the same time last year.  Picture: Getty.

“It just seems to be the case that everything at that end of town is still doing quite well and it is primarily because job loss has been concentrated amongst younger people [with less income]. We’ve got incredibly low interest rates of below 2% now and so I think buyers are seeing now as an opportunity to jump in.

“Even though they can’t see the property, [buyers] have obviously got the confidence that a house in Camberwell is going to be a decent purchase.”

Ms Conisbee added, virtual inspections have likely played a key role in many strong lockdown sales, as they seem to be something that buyers are taking to quite well.

But while virtual inspections are a useful tool, selling homes in such a strict lockdown environment comes down to luck, said Adam Docking, senior vice president of the Real Estate Institute of Victoria.

“There’s always going to be somebody that buys a property sight unseen and it could be for a myriad of reasons – it could be the style of the property, it could that they want to knock it down anyway so they want to just look at the land,” Mr Docking said.

“Your standard purchaser will not buy a property without touching it, feeling it and looking at it because it’s more of an emotional purchase.”

Mr Docking added that it’s been a really tough time for the industry as stock has “dried right up”.

“There are no new properties coming on the books, we can’t even do the preliminaries, the pre-marketing, photos and floor plans and so forth. As soon as the 14th of September hits, hopefully, we’ll be racing around like crazy people trying to pre-market all of these properties,” he said.

Strong sales point to bonzer spring

Despite the lockdown, Ms Conisbee said buyer activity on realestate.com.au is currently well up compared to last year, even after a small drop in recent weeks. She added, pent-up demand in Melbourne during the lockdown period will likely burst in spring.

“If we look at what’s happened after severe lockdowns around the world, if you look at New York, London and New Zealand, we have seen that after very severe lockdowns where very little transaction activity takes place, there is a very sharp rebound,” she said.

“So, at this stage we can certainly say there is likely to be quite a bit of pent-up demand ready to go once restrictions are lifted.”

Experts predict a flurry of activity in Melbourne’s property market post-lockdown. Picture: realestate.com.au/buy

Mr Docking said he expects things will be quiet to start with because selling agents will need some time to pre-market homes, but agreed that buyers will be “champing at the bit”.

“If New Zealand is anything to go by, there’s going to be this massive letting off of steam as soon as the gates are opened… but then there’s going to be this period of marketing, where the sales numbers will be very low.”

The post Stage four lockdown no roadblock as buyers snap up homes ‘sight unseen’ appeared first on realestate.com.au.

110 Clarkes Rd, Anakie was designed by renowned mud-brick builder Alistair Knox.

A natural haven designed by famed mud-brick craftsman Alistair Knox was been snapped up in Anakie.

The sustainable hideaway showcases the pioneering designer’s work on a 1.98 hectare bush property that counts a kangaroo called Harvey as its regular visitors.

The property at 110 Clarkes Rd, Anakie, was offered at an online auction this week, selling to Geelong buyers for $670,000 after being passed in.

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Exposed timber and brick features inside.

The living area has a rustic feel.

Ray White, Lara agent Terry Cleary had offered the two-bedroom, two-bathroom mid-brick house to auction with price hopes of $669,000 to $689,000.

Mr Cleary said nine potential buyers had registered for the auction, though two participated.

Up to 38 people witnessed the auction, including a contingent of Ray White staff.

The rustic home features red brick flooring, reclaimed timbers and vast windows to frame views of the landscape.

A huge brick open fireplace is the centrepiece of the open-plan living zone, while the kitchen has an IXL combustion stove.

Clerestory windows draw in natural light.

The main bedroom comes with an open fireplace.

Vendors John Sanders and Carol Brislane told the Advertiser earlier the home’s warmth and natural setting drew them to the property.

They have savoured the serenity and native flora and fauna, while their grandkids got hours of entertainment out of the playground.

“It was very different and it had a lot of character, that’s what attracted us to it,” Mr Sanders said.

“It’s a real nature block, there are lots of birds.

Large windows frame garden views in the sunroom.

“It was built by Graham and Heather Bird so we have called it Bimbimbi, which means place of birds.”

The late Mr Knox is considered a pioneer of modern mud brick design was awarded an honorary doctorate in architecture from Melbourne University for his contribution.

Mr Cleary said his homes had quite a following and was one of the drawcards for potential buyers.

There’s hours of entertainment out here.

The property has a man cave ready to go.

The fact it was An Alistair Knox designed house was a lead in, as was the five acres of semi bushland and a relaxed lifestyle living was the other,” he said.

Mr Cleary said the $620,000 opening bid was a solid start to the auction.

While the Geelong buyer was the highest bidder, the underbidder was unable to inspect the property in person due to the Stage 4 lockdown in Melbourne.

with Nicole Mayne

The post Alistair Knox mud-brick house sells at Anakie bush haven appeared first on realestate.com.au.

Tom and Emma Lane from Byron Bay’s The Farm have sold up after five years, but the community-led business is here to stay. 

Just outside of Byron Bay, the foodie haven has been a thriving hotspot for locals, visitors and celebrities alike (the Hemsworths live just up the road) – full of wholesome treats from its garden, bakery and cafe, it also allows visitors to learn about food with their nursery education programmes, and tour the property on horseback.

Famous for its Grow, Feed, Educate and Give Back philosophy, the business was listed for sale earlier this year with the aim to keep it running and growing with the help of its new owners and 120 staff.

After five years Tom Lane, the grandson of Oroton founder Boyd Lane, and wife Emma Lane have sold The Farm.

Tom Lane described the sale as “an interesting one to digest” but said he and his family are excited about their next chapter.

“It’s really all about a full circle. We originally came up here with our four kids to have a slower pace of life and spend more time with our kids and grow our own food, which really led us into the whole idea of creating a farm, so we did it for ourselves now we’re doing for everyone else. And we feel like we’ve done a pretty nice job.

“We’ve built a community, generated over 120 jobs, given back in so many ways… so we feel very proud actually, I think that would be the best way to sum it up.”

Fans of The Farm (and there are about 165k of them on Instagram) will be pleased to hear the project’s legacy will be continued with the new owners – local business and property owners Fraser and Allyson Short – taking the helm when the purchase settles later this year.

Mr Lane said the legacy was a crucial part of the deal when selling The Farm to the Shorts, who also have four children, who he has known for about 10 years.

“We bumped into [the Shorts] on a holiday recently and that really just started the discussion, around our family values and what we’re trying to do. Fraser’s got a house up in Byron, he’s obviously got another business up here and we’ve got a lot in common, and that’s sort of how the whole deal came together in the end.

“It’s like handing the baton over in a relay race. Continuing the legacy.

“We had many people circling, and we’ve had many people circling since we opened it, to be honest. We’re had plenty of taps on the shoulders and I gotta tell you, most of them were inappropriate in terms of the fit for the long term.”

The Farm is well-known for it’s sustainable food and delicious treats from the bakery and cafe. Picture: The Farm

Just a 10-minute drive from the centre of town, The Farm is a paradise of rolling green hills, historic farm sheds surrounded by ancient trees, as well as all the wholesome, sustainable produce you can poke a carrot at.

Fraser Short said he is really excited about taking over the reins, and he’s not planning on changing much.

“We just love it as it is, everything’s working so well. My dad used to always say, ‘if it ain’t broke, don’t fix it’.

The Farm is known for its Grow, Feed, Educate and Give Back philosophy. Picture: The Farm

“What we would love to do is lean into some of those principles [of The Farm] and see if we can develop them further. There has to be opportunities around farming and agri-business, we’ve got 80 acres so there’s a lot of opportunity that comes for everyone when you’re well funded and you can continue to invest in small agri-tech and agri-business.”

It’s going to take some time to get their heads around the program and ethos at The Farm, but the Shorts won’t be alone – Mr Lane will be there to give hands on help.

“That’s a big part of the transaction, Tom is part of the community,” Mr Short said. “The thing that we feel really good about is the fact that [Tom and Emma] are going to be there for advice and also just for a bit more education for us as to what their midset is.”

New owner Fraser Short wants to further develop the principals of The Farm. Picture: The Farm

The unique property was originally listed for $20m+, and while both parties are remaining tight-lipped on the final price, Mr Short said everyone is “very happy”.

“I mean, Tom won’t have to work too hard and hopefully he can buy himself a lot more cattle,” he said.

“He deserves it, Tom and Emma deserve it for what they’ve done for the community… here’s a business that has not only fed the community but employed the community, encouraged small business and encouraged small business to employ each other, it’s an amazing outcome and I think they deserve to be paid for it.”

For Mr Lane, the sale was less about the money and more about finding the “right fit”.

“But we’re very happy. I suppose if you look at it from an economic point of view [we got] return on our investment and return on our effort. Most importantly, we’re happy that it’s going to continue in its current form, everyone’s staying, all the tenants are staying as they are, Fraser’s gonna turn up and it’s going to be business as usual and I’m going to be there helping him,” he said.

Ownership might have changed, but The Farm’s legacy will be continued – with a little hands on help from the previous owner. Picture: The Farm.

The Lanes now plan to turn their attention to the other property they own just up the road, The Range, with the intention of regenerating and developing it into the site for an education program called Whole Beings for school children aged three to 10.

“We’ve got 120 acres at The Range and we’ve started planting our veggie gardens and having animals… we really wanted to just get back into an entire regenerative way of living, and focus on our kids and our passions,” he said.

However, Mr Lane said it’s very much a case of “watch this space”.

“We’re got a few more ideas bubbling in the background. We’ve got a bit more work to do [at The Range] and we’ll probably be focusing more of our energy on a couple more private regenerative farm-style operations, not open to the public, he explained.

“Maybe we’ll focus more on the accommodation side of things, the personal experience of coming to a farm as a guest and actually immersing yourself, one-on-one.

The post Byron Bay’s The Farm has sold, but its legacy will continue appeared first on realestate.com.au.

There are far fewer properties on the market now than there were this time last year, new data shows.

Househunters have almost 1500 fewer properties to choose from on the market than they did a year ago.

But don’t worry, property experts are confident more homes will spring onto the market over the next few months.

Latest CoreLogic figures show the number of properties listed for sale across Adelaide has dropped 20 per cent in the past year, from 7278 in the 28 days ending August 25 in 2019 to 5822 in the same period ending August 23 this year.

Both figures are lower than those recorded during the same periods in the two previous years, when listing numbers stood at 8346 in 2018 and 8797 in 2017.

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Harris Real Estate managing director Phil Harris said stamp duty and the prevenance of renovation reality shows had encouraged people to reinvest in their own homes and stay longer over the past few years.

However, market uncertainty because of the coronavirus pandemic was largely to blame for the shortage of listings this year.

Property experts say confidence is slowly being restored though.

Mr Harris said more people were expected to list their properties come spring.

“There has been a lot of trepidation in the market place with people wanting to see what happens,” he said.

“But we anticipate stock volumes to be higher in spring.

“There’s going to continue to be a shortage of listing volumes, however the worst is probably over.”

More properties are expected to hit the market over spring.

Auction numbers were also tipped to increase in the next two months.

Real Estate Institute of South Australia president and auctioneer Brett Roenfeldt said activity would pick up slowly.

“We’re starting to get a few more bookings,” he said.

“One would hope that we’re going to have an injection of property from an auction perspective, but this is going to be a slow build up.”

He said clearance rates were high at the moment, with some agencies recording 80 to 100 per cent weekend clearances, mainly because demand was so high for fewer listings.

According to latest CoreLogic data, Adelaide recorded a 59.7 per cent clearance rate off 62 auctions last week.

At the same time last year, there were 56 auctions with a 56.9 per cent clearance rate.

The post Why househunters might be struggling to find a new Adelaide home appeared first on realestate.com.au.

This house designed by studioplusthree is situated in a leafy site in the heart of the city, providing the owners’ children with the opportunity for dicsovery and adventurous play. Picture: Tom Ferguson

This house could be classified under “secret Sydney”. Located not far from the Cooks River in the inner west, it’s a spot even locals would struggle to know about.

Architect Simon Rochowski says the 1000sq m site was bit of a jungle when they turned up, which is what appealed to the owners in the first place.

The Cooks River House designed by studioplusthree was an overgrown site by the river: Picture: Tom Ferguson

“It’s a very steep site and it has a slight air of danger, which the clients liked,” he says. “It has a lot of big rock faces.

“The clients wanted this feel of a wild place where their kids could grow up with a bit of tempered risk.”

The house had been added onto over the years in a “pastiche”, says Simon, but he planned to strip it back to the original small cottage. The new design extended up and out, with a deck from the original Federation cottage looking out towards the river, and a sleeping “pod” above clad in kebony, a specially treated Norwegian wood designed to weather to silver grey.

“We thought it responded to the tones of the surrounding bushland and it was in keeping with the landscape,” says Simon.

The house was stripped back to the original cottage and then a deck was added to offer a view of the river. Picture: Tom Ferguson

The ground floor extension, which includes the open-plan kitchen and dining space, relies heavily on wide glass doors providing an instant connection to the outdoor space.

After years of researching the Sydney School of architecture, which is known for its ethos of sitting well in the landscape, Simon concedes there are similar elements in this design.

“We had the idea of the landscape continuing down through the house, which is why the ground floor has been designed the way it has,” he says. “The landscape is a big part of it.”

Architect Simon Rochowski wanted to create a sense of the landscape moving through the house. Picture: Tom Ferguson

Once council was satisfied with the provisions for water retention, given its proximity to the river, they gave Simon and his team the green light to start work, which was not exactly simple.

Getting building materials to the site was not easy. Picture: Tom Ferguson

Building materials were transferred to site via a temporary bridge the builder constructed to run from the carport to the house.

Some of the vegetation had been cleared to expose the beauty of the rock faces and then Simon worked with landscape architect Christopher Owen from Fieldwork Associates to build on the framework of mature trees already on site.

The bathroom layout is compact with close attention to natural light. Picture: Tom Ferguson

Overall, the process took two years, but Simon says this kind of project never really has an end point.

“Landscaping is never really finished,” he says.

Pictures: Tom Ferguson

THE PROJECT

Owners

A couple with three children

Architect

Simon Rochowski, studioplusthree

studioplusthree.com

The brief

To extend the old house without losing the wild nature of the 1000sq m sloping site

Design solution

To create a ‘see-through’ extension reminiscent of the Sydney School of architecture

How long did it take

Two years

THE SOURCE

Builder SFD Construction, sfdconstruction.com.au

Landscaping Fieldwork Associates, fieldwork.net.au

Kebony claddingMafi, mafi.com.au

The post Renovation by the river appeared first on realestate.com.au.

The striking new build in Mudgeeraba’s Jabiru Estate has sold for $4.6 million.

A mind-blowing house unlike anything else on the Gold Coast market has been snapped up for a record $4.6 million well ahead of the planned auction.

The stunning two-level, seven bedroom residence in Mudgeeraba’s Jabiru Estate had been on the market for less than a week before a local buyer swooped.

Jabiru House, Mudgeeraba.

Harcourts Coastal agent Katrina Walsh, who led the marketing campaign on Jabiru House — due for auction on September 23 — said the one-of-a kind residence attracted a frenzy of interest.

“We were inundated with inquiry from expats, interstaters and locals,” she said.

“The local buyer was attracted to the architecture, the green and the privacy.”

SeaBreeze building designer Renee Ellen and builder Paul Lingard worked together to design, construct, landscape and style the property on behalf of the overseas sellers.

Jabiru House, Mudgeeraba.

Ms Ellen drew heavily on Brazilian architecture while embracing the Japanese ethos of wabi-sabi, whereby beauty is discovered in imperfection.

“Brazilian architecture is very fundamental — it’s very sculptural, it’s big boxes and walls that open up,” she said. “The climate here in Queensland is very suited to that.”

The imposing facade features weathered vertical timber screening alongside hand-laid local stone while raw concrete, timber and stone create a consistent palette inside.

Jabiru House, Mudgeeraba.

The way in which the house integrates with the natural landscape was the starting point for the design which saw a horse paddock reshaped to accommodate the main structure.

“Working overseas for a long time really opened up my mind up to taking a fresh approach, letting the potential of the land and the house talk to you,” Ms Ellen said.

Jabiru House, Mudgeeraba.

Custom-made furniture, fittings and decor, many sourced from abroad, saw the final interior touches applied to the 12-month project earlier this year.

“The house is unique in that luxury finishes have been used where they belong rather than anything having been copied from a magazine,” Ms Ellen said.

“The most difficult aspect was making everything appear quite effortless.”

Jabiru House, Mudgeeraba.

Jabiru House, Mudgeeraba.

A 25m lap pool sits partially below the ground negating the need for pool fencing while an underground gymnasium is tucked beneath the basketball/tennis court.

The Lagoon Way sale eclipses the $4.15 million achieved on a resort-style retreat on Jarema Drive, Mudgeeraba, sold this month by Kollosche’s Ryan Ward and Michael Kollosche.

Jabiru House, Mudgeeraba.

The post One-of-a-kind house sold for a record price pre-auction appeared first on realestate.com.au.

Nadia Fairfax and fiance Michael Wayne are the new owners of the grand Paddington terrace, Cawdor.

Fashion influencer Nadia Fairfax and her financier fiance Michael Wayne have bought the grand $4.3m Paddington terrace owned by the famous abstract painter Michael Johnson.

The four-bedroom, two-bathroom terrace, Cawdor, in Bent St had been listed with a $4.3 price guide through Benjamin Goodwin of McGrath with co-agent Evan Williams of Ray White TRG.

Ever since it sold a week ago — believed to be for a little over $4 million — the identity of the purchaser has been a mystery.

But sources have confided to the Wentworth Courier exclusively that Fairfax, 30, who announced her engagement on Instagram to Wayne in March, was won over by the 1880s home’s 2.7 metre ceilings.

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Large paintings line the walls.

It’s been owned by the Johnsons since 2012.

It’s set to be the former elite gymnast’s first home purchase — she’s been living at Wayne’s apartment in Elizabeth Bay.

Cawdor has been owned by Johnson and his wife, Margot, since 2012 when they paid $2,235,000.

They’ve since renovated.

With large paintings on most of the walls, the terrace has a bohemian feel, perhaps not surprising since Johnson had lived in New York during the early 1970s.

Fairfax is moving from Elizabeth Bay where she’s been living with Wayne in his apartment.

The modern kitchen is full of light.

On a 162 sqm block, there’s also a studio where Johnson painted one of his most famous works, Oceania, which won the 2014 Wynne Prize for the best landscape painting of Australian scenery.

The home’s features include a French marble fireplace; French doors opening into a modern kitchen and an entertainer’s deck.

The master bedroom has an ornate balcony.

Great outdoors.

Full of charm.

The Johnsons have decided to spend more time at their country property and a Woollahra bolthole.

The sale follows a string of solid Paddington results for Goodwin, including $5,675,000 for 171A Windsor St in March which is the highest in the street this year.

Goodwin is optimistic going into spring. “The market in Paddington has always, and will more than likely always be, the barometer for the eastern suburbs property sector,” he said.

“I feel that with all the goings on with the global economy, some of Sydney’s eastern suburbs — Paddington most notably — is continuing to soar, with many buyers seeing incredible value in bricks and mortar at present.”

The post Nadia Fairfax and her financier fiance buy artist Michael Johnson’s $4.3m grand Paddington terrace appeared first on realestate.com.au.

Securing a home loan could be a major obstacle for first-home buyers, despite experts tipping the group to drive Melbourne’s property market recovery.

Young people in coronavirus affected industries are being heavily scrutinised by big banks up until settlement, mortgage experts say, with wait times for pre-approval blowing out.

Mortgage Choice chief executive Susan Mitchell said those working in hospitality, tourism and retail should “expect to get more questions from the bank about (their) financial situation right up until the loan is settled”.

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Getting a home loan is getting harder for some. Picture: iStock

“Pre-approval isn’t an absolute guarantee and is subject to no adverse change in your financial situation,” Ms Mitchell said.

“The bank will look at your application again once you’ve found the property you want to buy.

“I would encourage anyone in an affected industry to ask for a fully assessed pre-approval before buying at auction so you have more peace of mind of your borrowing power.”

Carpenter Troy Hill, 28, said his pre-approval became void after coronavirus hit.

While he managed to “scrape through” and buy his first home in Kilsyth, being a sole trader made getting his loan approved a lot harder.

“It was basically just a game of cat and mouse, back and forth with the banks,” Mr Hill said.

“Banks were taking a long time to approve finance — I had to keep pushing for an extension. “This whole scenario has really impacted borrowing capacity, but I managed to still scrape through.”

Carpenter Troy Hill said he had to jump through a number of hurdles to get approval for a home loan. Picture: Mark Stewart

Home Loan Experts credit manager Sharon Xie said young people like Mr Hill were most frequently impacted by tighter lending restrictions.

“Young Australians are more affected as they are less experienced and may work in a more unstable environment,” Ms Xie said.

“Lenders may have tightened up certain policies. (But they are) are still willing to lend as long as your employment is continuing.

“In fact, the majority of lenders have announced they are willing to consider people who are on JobKeeper income.”

Banks are reported to have a bottleneck of loan applications. Picture: Ian Currie

It comes as property pundits tipped first-home buyers would lead the way in Melbourne’s coronavirus recovery.

Corelogic’s head of research Tim Lawless said first-home buyers eligible for government support would boost demand for affordable pockets and help drive the market out of the downturn.

Bank of Melbourne chief executive Mark Melvin confirmed JobKeeper payments were considered a type of income for home loan applications, and lending criteria had not changed for specific industries.

“We have made significant improvements to our home loan processing during COVID-19 and the majority of our applications are being processed within our standard turnaround times,” Mr Melvin said.

“Bank of Melbourne has also recently reduced lender’s mortgage insurance to just $1 for eligible first-home buyers.”

Buyer’s advocate Cate Bakos said some of her clients had experienced 40-day queues for assessment at the major banks.

Cate Bakos said some of her clients had experienced 40-day queues for assessment at the major banks. Picture: Mike Dugdale

Strategic Finance director and mortgage broker Mario Borg had also noticed wait times for loan assessment blow out to this length during the pandemic.

But he assured would-be borrowers banks “don’t want to stop lending, they want to make sure they’re lending to the right people”.

“There is a heightened level of scrutiny and compliance that started with the (banking) royal commission last year, then we got whacked with COVID-19, which has exacerbated it,” he said.

“(But) we’re finding the second-tier lenders are offering some very sharp deals right now.”

— with Jack Boronovskis, Samantha Landy

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The post Coronavirus: Lenders scrutinise buyers in pandemic affected industries appeared first on realestate.com.au.

No. 1-5 Bundarra Rd in Regentville goes to auction on Saturday, August 29.

A sandstone western Sydney property that was originally built as a worker’s terrace for a nearby woollen mill has come up for the sale.

The home at 1-5 Bundarra Rd in Regentville was constructed in the 1840s to be originally used as housing for workers that had been part of the Sir John Jamison’s Regentville Estate.

It was later converted into a single dwelling in the 1930s.

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The large block near the river.

The interiors need some work but have plenty of potential.

The three-bedroom building is the last remaining evidence of a previous riverside development in the region.

Sitting on 2880sqm of land, the home is very much in original condition and has two sandstone bedrooms plus potential for another, antique windows and back-to-back fireplaces in the living room.

One of the fireplaces.

Buyers love the rare opportunity.

Located just 200m from the Nepean River, listing agent Josh Cassells said he was expecting plenty of interest at Saturday’s auction.

“We’re expecting it to go pretty well and there will be quite a few people who will register,” he said.

It is priced around the mid $1 million mark, with locals and upsizers interested in living near the river.

The post Historic Regentville worker’s terrace listed for sale appeared first on realestate.com.au.

No. 8 Turner Place in Yarralumla goes to auction on Saturday, August 29.

This contemporary Yarralumla residence is turning heads for all the right reasons.

The handiwork of acclaimed Canberra architect Paul Tilse, the five-bedroom, three-bathroom residence at 8 Turner Place, near the iconic Lake Burley Griffin, has drawn considerable interest ahead of this weekend’s auction.

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“Paul Tilse has a bit of a cult following,” said Steve Lowe, from Agent Team Belconnen.

Gorgeous design.

“We have found that people are interested in his homes and come to have a look at another design because they just love and appreciate his work. It’s not overstated, its actually quite restrained but functional at the same time.”

Set in the sought-after suburb of Yarralumla, the property combines the warmth of timber cabinetry and flooring with natural light to create a stunning and functional home.

It was built last year.

Constructed last year, the floorplan offers 301sqm of living space, including an 11m bank of stacker doors that open out to the backyard entertaining area and solar-heated swimming pool.

“One of the best drawcards is the north-facing living, so the orientation makes really good use of the size of the block. It’s 600sqm but it feels much bigger than that, and the north-facing living spaces are the ideal orientation for winter with the sun streaming in,” Mr Lowe said.

Open plan living.

“From the kitchen space you can monitor all the surrounds from that one central location, so you can watch the kids playing on the swings or kicking a ball in the yard, or the adults having a few beers outside or a swim in the pool. You’re always connected with the family.”

The kitchen, which features a butler’s pantry and an all-in-one zip tap with boiling, chilled and sparkling water, was crowned the Kitchen of the Year in the 2019 Master Builders’ Association Awards.

The kitchen and dining area.

As well as interior design by Vanessa Hawes, additional features include an Escea fireplace, double-glazed windows, a security system with three Google cameras and motion sensors inside the home, motorised blinds and a laundry chute from the top floor.

Heating and cooling has smartphone application and is zoned to each room, while the yard irrigation is connected to Wi-Fi with a predictive weather control.

The property will go to auction on Saturday August 29 at 4pm and is expected to fetch more than $2.6 million.

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