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Month: October 2020

Up-and-coming suburbs set to boom

first_img**Data source: realestatate.com.auThe rankings are reached by taking the average number of listings in each suburb over the course of three months. The number of clicks on property listings are then compared to the number of available properties in that suburb to arrive at a supply vs demand ratio. Suburbs are then ranked by the extent to which demand outstrips supply.The most improved suburbs are then ranked based on their change in position from Q4 2014 to Q1 2105. Australia’s outer suburbs and coastal hubs are experiencing a surge in popularity from prospective home buyers. As the property market continues to grow, pockets of suburban Australia look set to boom as buyers seek both accessibility to the CBD and affordability.The northwestern Adelaide suburb of Semaphore Park has seen a huge rise in popularity with buyers in South Australia, comparative data from realestate.com.au shows.Semaphore Park jumped 442 places since the last quarter of 2014, making the beachside suburb number one on a list of most-improved suburbs in realestate.com.au’s most recent Top Sellers’ Market.Budget buys: Best growth suburbs under $350,000This 3-bedroom home on a huge 750sqm block in Semaphore Park is up for auction on May 2. View listing.Agent Dianne Ladhams of Ouwens Casserly Real Estate in Adelaide, says Semaphore Park has been undergoing a rejuvenation recently.She says the suburb has a mix of older ’70s-style suburban homes, which range in price from the high $400,000 mark to the low $500,000 mark, and courtyard-style homes on sub-divided blocks for just over the $400,000 mark.“Its proximity to the beach and the Semaphore district make it really attractive,” Ladhams says.“There’s been a lot more cafes, restaurants and dining opening recently.“We’re finding a lot of the older coupes are moving out and younger couples and families are coming into the area.”An affordable option that’s walking distance to the beach.She says the 20-minute commute to the Adelaide CBD and the great public transport options – including buses and trains – also make Semaphore Park attractive to buyers.“This is an affordable option that’s walking distance to the beach. I’ve been saying for a few years it’s one of the up-and-coming suburbs and it looks like the general population is catching on.”Bayswater North, in Melbourne’s outer east, saw the second biggest jump on a national scale, climbing 351 places.Houses in the high-demand suburb have a median price of $490,000 and command a weekly rent of $360.Style central: Fashionable apartments from the world’s best designersThe vendors of this large brick home in Bayswater North are asking for $460,000 plus. View listing.In third place was the northern Sydney suburb of Cremorne, which improved 230 places. Located just across the bridge in Sydney’s north, Cremorne commands a median house price of $2,195,000 and a weekly rent of $1,188.Other options: What is the duplex and what’s it got going for it?Top 10 most improved nationallySemaphore Park (SA) – up 442 spots to 7thBayswater North (VIC) – up 351 spots to 42ndCremorne (NSW) – up 230 spots to 63rdNarrabeen (NSW) – up 209 spots to 76thLindfield (NSW) – up 192 spots to 72ndTumbi Umbi (NSW) – up 180 spots to 17thKnoxfield (VIC) – up 160 spots to 100thMona Vale (NSW) – up 159 spots to 54thWishart (QLD) – up 155 spots to 56thBalmain (NSW) – up 144 spots to 26thMore from newsTop 5 affordable inner-city suburbs18 May 2015Australia’s best growth suburbs16 Feb 2015Affordability & accessibilityA state-by-state breakdown of the data shows outer suburbs within an hour of the CBD have surged up the rankings. Coastal hubs also saw increased interest from buyers.Nobody wants to commute longer than they have to.In Victoria, it was all about Melbourne’s outer east, with buyers keen to get into property in Chirnside Park, Bayswater North and Heathmont.In WA, while South Fremantle led the charge, climbing 40 places, most of the action was in the suburbs north of Perth.In NSW it was all about western Sydney and the Central Coast, while Queensland’s Gold and Sunshine Coasts also saw big improvements in rankings.Cremorne’s established homes and proximity to Sydney’s CBD make it a sought-after suburb.Rich Harvey, Chair of the Real Estate Institute of NSW’s Buyers’ Agents Chapter, says many people may not be able to get into the suburb they want so widen their search to nearby areas.“People are looking for value but cannot find value in prime suburbs so they go to adjacent suburbs,” he says.He says outer-ring suburbs with access to good transport options are proving attractive to buyers.“Nobody wants to commute longer than they have to. Everyone is trying to get maximum value for their budget while still having a reasonable commute time.”High life: Buying a penthouseTop 5 most improved suburbs state by stateState rankings use the same methodology but may differ from national results due to a suburb’s state-based ranking.ACTGordon – up 14 spots to to 10thKambah – up 11 spots to 8thDunlop – up 11 spots to 11thNarrabundah – up 6 spots to 6thCasey – up 5 spots to 20thNSWCroydon Park – up 136 spots to 81stEarlwood – up 127 spots to 93rdBudgewoi – up 106 spots to 64thBateau Bay – up 105 spots to 67thCremorne – up 97 spots to 36thNTJohnston – up 12 spots to 22ndWoodroffe – up 9 spots to 11thDurack – up 7 spots to 25thDriver – up 7 spots to 21stDarwin River – up 7 spots to 20thQLDYatala – up 121 spots to 91stMackenzie – up 104 spots to 97thCurrimundi – up 85 spots to 50Currumbin Valley – up 77 spots to 42ndFerny Grove – up 65 spots to 48thSASemaphore Park – up 58 spots to 3rdValley View – up 45 spots to 72ndPara Hills – up 40 spots to 84thPooraka – up 37 spots to 85thProspect – up 28 spots to 15thTASBagdad – up 37 spots to 78thChigwell – up 31 spots to 53rdLachlan – up 29 spots to 54thLulworth – up 24 spots to 85thDodges Ferry – up 23 spots to 89thVICChirnside Park – up 140 spots to 51stBayswater North – up 95 spots to 14thMooroolbark – up 74 spots to 65thDingley Village – up 61 spots to 65thMill Park – up 59 spots to 98thWASouth Fremantle – up 40 spots to 66thCraigie – up 37 spots to 39thHillarys – up 36 spots to 24thLesmurdie – up 33 spots to 30thHeathridge – up 28 spots to 14thlast_img read more

This week’s Bargain of the Week could pay your mortgage twice over

first_imgThis three-bedroom home in Koongal sold for just $143,000 on Tuesday, where the median rental price for a three-bedroom home would pay half the monthly repayments each week.THE buyer of this home at 269 Fisher Street, Koongal will be laughing all the way to the bank with the median rental price outstripping mortgage repayments on this home in Koongal.Just outside of Rockhampton the median price for a three-bedroom home in Koongal is $232,500 with median rental of $263 per week.But the buyer of this home picked up a real bargain, paying just $143,000 on Tuesday, with estimated monthly repayments of $574. More from newsMould, age, not enough to stop 17 bidders fighting for this home4 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor4 hours agoBargain of the WeekThe home is set on 556sq m on a corner block and a short walk to Mount Archer State School.With polished timber floors, entertaining deck, plenty of yard and neat kitchen, it was the perfect buy for a first homeowner or investor.If an investment property is in your sights or you’re looking for a change of pace then here are some more bargain buys in Koongal.Priced at $99,000 this four-bedroom home is at 271 Lakes Creek Road. With estimated monthly repayments of $469 and currently tenanted at $220 per week it’s certainly worth a look.If you’d prefer something with a cuter street frontage then 113 Stack Street with an asking price of over $195,000 might suit you better.Or if you don’t mind the vintage retro look this two-bedroom home at 304 Rockonia Road will tick the boxes with an asking price of $179,500.last_img read more

Auction clearance rate nosedives, with Brisbane lowest of capitals

first_imgBrisbane’s auction clearance rate from June 2015 to this past week. The clearance rate has nosedived to 30.7 per cent, its lowest level in two years. Picture: CoreLogicIt came as clearance rates across Australia’s capital cities continued to trend below 70 per cent, with preliminary results sitting at 69.1 per cent.Not only was the number of auctions across the capitals down (2,323 compared to 2,444 the previous week), but Mr Kusher expected auction success rates would also continue to fall as the financial year wound down.“With results still being collected, it is likely that the final clearance rate this week will revise even lower again.”More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours agoThe situation wasn’t as dire for Sydney, Melbourne, Canberra and Perth, where the clearance rate for the week was higher than the same time the previous year, with Brisbane and Adelaide bearing the brunt of the drop-off. AUCTION CLEARANCE RATES (Week to Sunday June 25): Auctioneer Justin Marsden in action on Saturday at one of the few homes to sell under the hammer this past week – a three-bedroom home on a 933sq m block at 253 Fairfield Road, Fairfield. Picture: Adam HeadBRISBANE’S clearance rate has nosedived to its lowest level in years – after pulling the weakest weekly performance of all mainland capitals.The preliminary clearance rate for Brisbane plunged to 30.7 per cent, latest figures show, meaning less than one in three houses that went under the hammer was sold.And CoreLogic analyst Cameron Kusher expected the figure to drop even further as more auction results were reported.“The preliminary clearance rate in Brisbane this week was 30.7 per cent, down from 46.4 per cent over the previous week. Auction volumes were lower this week with 129 auctions held, down from 151 last week. Meanwhile, across the Gold Coast, 31.8 per cent of the 22 reported auctions were successful.” Melbourne 71.9 per centSydney 73.1 per cent Brisbane 30.7 per cent (Gold Coast, 31.8 per cent) Adelaide 67.6 per centPerth 36 per centCanberra 73.9 per cent (Source: CoreLogic)last_img read more

Broadbeach Waters abode was once home to the late Dame Zara Bate

first_img58 Monaco St, Broadbeach Waters.A wooden staircase leads to the second level where there is a main bedroom with a balcony and freestanding bath, and three more bedrooms. Other features include a media room, pontoon and kitchen with Bosch appliances. Address: 58 Monaco St, Broadbeach Waters Agent: Stuart Reeder, Ray White Broadbeach/ Mermaid WatersPrice: $2.395 millionInspections: Sat and Sun, 11.45am-12.15pm 58 Monaco St, Broadbeach Waters.Floor to ceiling windows allow the view to be fully appreciated when inside the house.“There’s a 6m void and as soon as you enter the front door you can see the view,” Mr Russo, a photographer said.The ground level features an open-plan design with concrete floors while the lounge and living areas open out to the pool and entertaining area. Dame Zara Bate resided at 58 Monaco St, Broadbeach Waters.Mr Russo said he stayed at the 850 sqm property with Ms Bate’s sons before buying the property.“We stayed there after Zara passed away and I remember catching a lot of fish out the back and thinking ‘that’s it I’m buying this house’,” Mr Russo said. 58 Monaco St, Broadbeach Waters.“You expect to see water and houses but you just see mangroves and trees,” he said. “It’s all natural and will never be built on – it’s just beautiful. I get mesmerised just looking at the water. If you want to live in paradise than this is the place.” center_img 58 Monaco St, Broadbeach Waters.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North4 hours ago02:37International architect Desmond Brooks selling luxury beach villa23 hours agoHe eventually knocked the rundown residence down to make way for a modern five-bedroom house which was completed seven years ago. He said the vista – overlooking Cascade Gardens — was one of his favourite features. 58 Monaco St, Broadbeach Waters.IT has a colourful history but this Broadbeach Waters property is now home to a modern abode.Homeowner Emanuele Russo’s family bought the block in 1991.In the 1980s it was home to the late Dame Zara Bate, fashion designer and wife of Australian Prime Minister Harold Holt.last_img read more

Gold Coast revealed as busiest auction location

first_imgThe Gold Coast auction season is full steam ahead. 24 King Arthurs Crt, Sovereign IslandsDESPITE week-on-week auction activity predicted to fall in capital cities, the Gold Coast is just getting started.New data revealed the Gold Coast was the busiest non-capital city region for auctions last week. CoreLogic’s latest auction report showed the region led the way with 121 properties going under the hammer. Your choice of pool or river. 19 Kula Close, Benowa is set to go under the hammer this weekend.However, Geelong recorded the strongest clearance rate at 82.6 per cent, while the Gold Coast came in at 36.5 per cent.Coming into this weekend, 29 properties are set to go to auction, including a Sovereign Islands waterfront mansion.The million-dollar residence, which property records show last sold for $1.72 million in 2014, is described as a “tropical resort style home”.“It’s accompanied with a Florida room extending to the pool offering long canal views and beyond,” the listing states.“This waterfront mansion was originally constructed by the renowed and award-winning RW Smith Family builders”.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach Northless than 1 hour ago02:37International architect Desmond Brooks selling luxury beach villa21 hours agoThe renovated property also features a full HD media room and pontoon big enough for a 60-foot vessel. This master ensuite is complete with a spa.It’s all about the waterfront abodes this weekend, with a four-bedroom, three-bathroom “functional family home”, set to go under the hammer at Broadbeach Waters.The house has a pool and its own sandy beach, “perfect for launching a stand-up paddle board or tinnie”.center_img 19 Alma St, Broadbeach Waters is described as a family home.Over in Palm Beach, a five-bedroom, four-bathroom waterfront property, also complete with its own beach, is set to be auctioned on Saturday.According to the listing, “the home has been designed with a focus on the water, offering views from the kitchen, living and dining areas and the master retreat on the upper level.” The backyard at 40 Mallawa Dr, Palm Beach.Meanwhile, a “substantial family entertainer” in Benowa featuring a large pool with cascading waterfalls a Florida room gym, wine cellar, mud room, workshop and dual living quarters will go under the hammer on Sunday morning. The Benowa home features a contemporary stone kitchen.last_img read more

Hamptons-style home sells for a record price

first_imgThe home at 35 Emma St, Kalinga.Mr Clarke said he had seen a rise in interest on character-style homes, too. “A lot of people are veering towards this style of home. “They like character, and this style highlights those by the way they are presented.“This is a great representation of things to come.” Inside the two bedroom Hamptons-style home.More from newsParks and wildlife the new lust-haves post coronavirus22 hours agoNoosa’s best beachfront penthouse is about to hit the market22 hours agoMarketing agent Tyson Clarke of Sotheby’s said this was a record sale for a two bedroom home in the suburb. The house at 35 Emma St, Kalinga.At 35 Emma St, Kalinga more than 120 spectators attended the auction, and watched on as a two hopeful buyers entered a bidding war to become the new owners of this two bedroom, single level, Hamptons-style home. The crowd at the auction of 35 Emma St, Kalinga. Pic Mark Cranitch.The opening bid was $850,000 and it sold to a young family for $1,270,000. Inside the two bedroom Hamptons-style home.“It’s a sensational result,” he said. “It’s one of the biggest auctions in the suburb.“That speaks volumes for the area.“Kalinga is quickly becoming one of the most sought-after suburbs in Brisbane,” he said. The recently renovated home is a de-elevated 1930’s character home. The house at 35 Emma St, Kalinga.It was a busy day for auctions, with some of Brisbane’s best houses going under the hammer.center_img Auctioneer Matthew Condon, The Auction Group. Pic Mark Cranitch.There were 14 registered bidders, however only two participated in the sale of the property. Inside the two bedroom Hamptons-style home.Mr Clarke said the result today was a great indicator of the future of real estate in the market.“Buyers know what they want, and they know what they’ll pay to get it.” Before the de-elevated renovation.Mr Clarke said he predicts this will become a popular style for renovators.“Over the next couple of years we’ll see a trend of this type of renovation,” he said. “It appeals to baby boomers, and young families. “Single level homes are big on the market now, and I predict that it will only grow more popular. Auction day at 35 Emma St, Kalinga. Pic Mark Cranitch.Mr Clarke said the property was the most clicked listing on realestate.com.au this week.last_img read more

Wynnum ‘twin home’ smashes street record

first_imgThe builders packed a lot of punch into the small allotment.Agent Marc Sorrentino from Place Manly said the home made the absolute most of its relatively small 405 sqm allotment.More from newsParks and wildlife the new lust-haves post coronavirus18 hours agoNoosa’s best beachfront penthouse is about to hit the market18 hours ago“It was very cleverly architected,” Mr Sorrentino said. The house shares a wall with the neighbouring property at number 38. REAL ESTATE: 36 Melville TCE, WynnumA DOUBLE-STOREY home that is literally connected to the house next door broke a street record when it was bought before it went to auction.The home at 36 Melville Terrace in Wynnum was snapped up a few days before it was due to go to auction with a price of $1,500,050.This was well above the previous record for the street, 108 Melville Terrace, which sold for $1.285 million in early 2016. It might share a wall with its neighbour, but don’t call it a ‘duplex’.“Both houses have big internal spaces without compromising privacy,” he said. The home was sold four days before it was due to go to auction to a couple from Sunnybank. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 3:17Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -3:17 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p480p480p256p256p228p228pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenMichelle Hele’s May market wrap03:17 Spacious design with views of the water.Both houses were built in 2013 after an older building that sat on the two allotments was demolished. Mr Sorrentino described the homes as “zero boundary”.last_img read more