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January 17, 2021

Perth’s 10 biggest property hotspots for 2021 will include several underpriced coastal suburbs and rezoned areas attracting developer swarms, a local expert says.

Though West Australian property values remain almost 20 per cent below 2014 levels, some economists were forecasting rapid growth thanks to low interest rates, housing stock shortages and people returning to the state, Trent Fleskens told Nine News Perth.

The managing director of Strategic Property Group and host of The Perth Property Show podcast predicted Riverton as the top hotspot, with the perennially sought-after Rossmoyne Senior High School and recent rezonings to higher housing density attracting developers.

Second was Willagee, a gentrifying suburb in which prices had already increased 10 per cent on like-for-like stock in the past year.

Third was Willetton, which also had rezoned areas and the drawcard of a quality high school.

Fourth, Nedlands, also had recent rezonings resulting in new developments.

Fifth was Morley, which Mr Fleskens said always did well in an upswing, with the announced Morley train stationplus the Bayswater station refurbishment to improve the suburb’s offering further.

Next was coastal Kallaroo, which Mr Fleskens said was underpriced, with rezonings adding stock.

Seventh was Padbury, which he considered underpriced, had recently upzoned areas, and was attracting buyers priced out of Duncraig and Warwick.

Rezonings were also pulling developers into St James, next up, and price rises in neighbouring East Victoria Park and East Victoria Park sending more buyers. Mr Fleskens said the Albany Highway cafe and retail strip was one of WA’s strongest.

Rounding off his list were two more coastal suburbs: Trigg, which he said lost significant value in the downturn with big houses now being snapped up, and North Beach, a gentrifying suburb with subdivision potential.

CoreLogic’s latest home value index, just released, showed Perth’s overall dwelling market (units and houses) grew 1.9 per cent in 2020, the rental market is doing exceptionally well and its unit market is outperforming the national average.

From a long-term perspective Perth rents are still much lower than their 2013 peak, but Perth rental growth was strongest amongst the nation’s capitals for 2020 at around 10 per cent.

Research director Tim Lawless said in a statement Perth had recorded below average investor activity in recent years, leading to a rentals shortage, and more recently, stronger interstate migration had increased demand.

Mr Lawless also said low investor demand for units – as well as high supply in some areas and a transition of demand towards houses – was also why unit prices underperformed compared to houses throughout 2020 across the country.

Perth unit prices, growing 1.3 per cent to a median $365,037, were slower than Perth house values, which grew 1.9 per cent to a median $490,810. But they fared better than the national unit price growth average of 0.2 per cent. Nationally, the index showed Australia’s housing market finishing the year strongly.

A 1 per cent rise in December was the third consecutive month of rises after a COVID-related drop of 2.1 per cent from April to September, and home sales recovered to finish the year with almost 8 per cent more than a year ago despite a 40 per cent drop through March and April.

Mr Lawless said the rebound was thanks to the government’s “rapid and substantial” response; record-low interest rates played a key role, along with a rise in consumer confidence as lockdowns were lifted and economic forecasts proved pessimistic.

Containing the spread had been critical to economic and housing market resilience, but downside risks remained. “New restrictions associated with a COVID outbreak would set back the economic recovery,” he said.

Source: https://www.watoday.com.au



December 28, 2020

The ink has dried on the million-dollar sale of former ‘Blockheads’ Tim and Anastasia Ielasi’s Woodville character home.

Property records now show the triple-fronted bungalow at 24 Aberfeldy Avenue has changed hands for $1.37 million.

The deal was penned shortly after it hit the market in late October but it has only recently settled, with the price being revealed just this month.

Klemich Real Estate agent Andrew Kuhlmann sold the property, which had a $1.3 million to $1.4 million price guide.

He was contacted for comment.

Mr and Mrs Ielasi, who starred on popular reality renovation show The Block in 2015, purchased the four-bedroom home seven years ago for $485,000, according to CoreLogic.

They always planned to fix up the rundown home, which was attractive to the South Australian couple because of its location and 923sqm block.

But it wasn’t until after they had finished The Block and a few flipping projects that they decided to focus on it.

They extended the house, changed its layout and completely transformed it inside, giving it a modern look while retaining much if its original character charm.

Mrs Ielasi said when it hit the market that she loved everything about the house, but its extension with cathedral ceiling was a standout feature.

“I’m really proud of our extension at the back – that living, kitchen and dining area,” Ms Ielasi said.

“We’ve had Australia Days here because it’s such a friendly neighbourhood, we’ve had 45 people in the backyard.

“We’ve put our heart and soul into this house, it’s a little bit bitter sweet selling it.”

Source: news.com.au



December 24, 2020

Despite 2020 being headlined by the first recession in almost three decades, Australia’s property sector has made it through the year remarkably unscathed, particularly premium property markets. 

Widespread predictions early in the year had house prices dropping by as much as 20% off the back of the coronavirus pandemic, but prices have behaved to the contrary, rising almost everywhere.

The biggest house sales of 202001:03

Chief economist at realestate.com.au Nerida Conisbee said prestige markets have “powered ahead” because, despite the COVID-led recession, there is still a lot of money around.

“Some parts of the economy have actually benefitted from COVID,” Ms Conisbee said. “The tech and mining industries have done very well, for example.

“Job losses have primarily affected people who work in hospitality and tourism. Most white-collar workers have kept their jobs while working from home.

“Very low interest rates are also helping home buyers. You can actually get mortgage rates under 2% now, so money is the cheapest it has ever been.”

Vaucluse

Waterfront properties are unsurprisingly sought after in Vaucluse, Sydney. Picture: Getty.


Ms Conisbee added there is also a lot of foreign investment in Australia’s prestige property markets.

“Australia is seen as a safe place to put money. There are also expats wanting to come home, particularly from Hong Kong and the US. There’s a lot of money coming from overseas.”

Prestige buyers are drawn to the big blue

Data from realestate.com.au revealing the top Australian house sales in 2020 illustrates a strong waterside theme.

Ms Conisbee said water views are just one of many features that can add value to a property.

“These can include features of the actual home such as a swimming pool or a particularly nice kitchen; proximity to amenity such as a great school or retail precinct; an attractive streetscape or particularly nice water views,” she explained.

The waterfront home in Mermaid Beach, Queensland reportedly sold for $22.6 million in August 2020. Picture: realestate.com.au/sold


Managing director at Sydney Sotheby’s International Realty – Double Bay Michael Palliersaid the Sydney Harbour views from the mansion at 42 Vaucluse Road, Vaucluse are picture perfect.

The spectacular home sold for $24.6 million – $10.46 million above the written reserve – in September 2020, setting a new Australian record for a house sold under the hammer.

“As you walk through [the house] you can see the Harbour Bridge and the Opera House in front of you. It just captured that beautiful Sydney experience for so many buyers, locally and overseas,” Mr Pallier said.

“The home is also elevated, you walk in and the land drops away below the house and that picture postcard view is right there. That’s what I think drove the price up.”

The beachfront beauty at 187-191 Hedges Avenue, Mermaid Beach was a top sale in Queensland this year, according to the realestate.com.au analysis. It was snapped up by billionaire developer Bob Ell for a cool $22.6 million after just a week on the market.

Principal at Amir Prestige – Paradise Point Amir Mian said there aren’t many homes on the Gold Coast where your backyard is the beach.

“Properties like this one right on the beach, a beautiful home – they’re not that common. So, when they come up, they do get snapped up,” Mr Mian said.

“Now with the coronavirus, people want to live the lifestyle and not just have their money sitting in the bank. That’s getting a lot of people to actually go and start living the dream, and this home is actually a dream.”

Here are the most expensive sold listings on realestate.com.au for each state and territory in 2020.

NSW: Harbourside mansion

42 Vaucluse Road, Vaucluse 

The Vaucluse mansion takes in Sydney’s iconic harbourside landmarks. Picture: realestate.com.au/sold


Harbour views don’t get any better than at this exclusive Vaucluse abode.

Spanning approximately 1085sqm of land, this palatial home is set against a spectacular 180-degree Sydney Harbour backdrop, taking in the Harbour Bridge, Opera House, City Skyline and North Sydney. 

The luxury five-bedroom, five-bathroom mansion boasts a tennis court, indoor/outdoor heated lap pool, lush tropical gardens and expansive balconies. It’s truly fit for royalty. 

The home sold for $24.6 million in September 2020.

VIC: Regal city residence

2 Lascelles Avenue, Toorak

The lavish five-bedroom, four-bathroom family home in Toorak. Picture: realestate.com.au/sold


This lavish family home in blue-chip Toorak sets the scene for a Great Gatsby-esque soiree.

The five-bedroom, four-bathroom property has been sympathetically renovated, maintaining its original c1935 design. There’s something for everyone with breathtaking gardens, a pool and north-south tennis court. 

If the regal sitting room with gas fire, formal dining room, library and six-car garage aren’t enough to impress you then perhaps the fitted home cinema and temperature-controlled wine cellar will do the trick. 

The entertainer’s dream sold for $14.75 million in October 2020.

QLD: Beachfront haven

187-191 Hedges Avenue, Mermaid Beach 

The home offers the very best of Gold Coast living. Picture: realestate.com.au/sold


You’d be forgiven for thinking you were on an exotic island in this blissful beachside home in Mermaid Beach.

With about 30 metres of direct ocean frontage and a patrolled beach, this five-bedroom, five bathroom home offers the very best of Gold Coast living. 

The luxurious in-ground, tiled pool at the centre of the home allows you to cool off in private. There is also a spacious basement with space for at least seven cars, a gym, cold room, sauna and even a private bedroom for your dog. 

The home reportedly sold for $22.6 million in August 2020.

WA: Breathtaking riverfront abode

140 Victoria Avenue, Dalkeith 

This Dalkeith oasis is only 10 minutes from the Perth CBD. Picture: realestate.com.au/sold


You would never know you’re just 10 minutes from Perth CBD in this Dalkeith oasis.

Set on lush grounds featuring frangipanis, a long, tree-lined driveway and a rainforest microcosm with a series of waterfalls, the beautiful home is hidden from the outside world. 

For thrill seekers there are canoes, kayaks, dinghies and paddle boards housed in a boat shed as well a jet ski, wakeboards and waterskis.

The home reportedly sold for $14 million in April 2020.

SA: Esplanade dream home

411 Esplanade, Henley Beach

This five-bedroom property has spectacular coastal views. Picture: realestate.com.au/sold


You can feel the sand between your toes just thinking about this beautiful Henley Beachproperty.

Set on approximately 1443sqm of land with the beach at your doorstep, the five-bedroom, three-bathroom home offers spectacular 189-degree coastal views and road-free access to the golden sands of Henley Beach.

It offers resort-style living just a hop, skip and a jump away from the vibrant Henley Square & Grange. 

The home sold for $5.68 million in January 2020.

Source: realestate.com.au



December 21, 2020

Without doubt, this is one of the most exceptional homes on Perth’s southern coastline and is expected to set a new record for the suburb of Waikiki.

Located high on an elevated 5226sqm block with a notable glass dome, the landmark property at 5 Shelton Street in Waikiki is a unique proposition, well away from the area’s plethora of modest 3×1 homes and median house price of $350,000.

Built in 1995, the abode dubbed Bayview hosts five bedrooms in the main residence and a three-bedroom annex, as well as a stunning indoor swimming pool, a temperature-controlled 3000-bottle cellar that comes with a private tasting area and two fully-equipped outdoor bars.

Selling agent Daniel Ialacci, from Ray White Rockingham Baldivis, said the property was a standout and expected it to break all previous sale records in the area.

“There are a couple of high-end properties and then there’s this one,” Mr Ialacci said.

“This property is definitely in a league of its own, which is why it’s probably attracted so much attention.”

Set over three levels, the floorplan spans 1166sqm and includes a spacious atrium foyer, elegant spiral staircase and rear sunroom that takes in spectacular views over the hinterland and Darling Range. The top floor is a professional office.

Mr Ialacci said the indoor pool, complete with a dolphin mosaic, was built inside with the sellers’ grandchildren in mind, with an open view from the kitchen and living area.

The estate is securely gated and has CCTV and roller shutters to the windows.

“Everyone who walks in says they love the size of the property and the panoramic vistas, which are some of the best I’ve ever seen,” Mr Ialacci said.

“The home is a real icon and everyone in the local area knows it. There is nothing even close to what this property has to offer in the area.”

The current residential sale record for Waikiki is $2.5 million, which was achieved in 2009.

The property was passed in at auction last Wednesday 9 December and Mr Ialacci is now taking offers.

Source: realestate.com.au