Speaker 1: And now the Real Estate show thanks to Domain, Australia's
Speaker 1: trusted property marketplace. Alice Stoles is a national property editor
Speaker 1: at Domain. We have a chat each week and jeez
Speaker 1: with us right now. Good day, Alice, Good morning, Luke.
Speaker 2: Great to bear with you.
Speaker 1: Thanks lovely to talk to you again. Let's kick off
Speaker 1: with the latest auction numbers and clearance rates in Sydney
Speaker 1: and Brisbane. What can you tell me?
Speaker 2: Well, Sydney's got not doing not badly given we are
Speaker 2: now well and trulli in winter, seven hundred and seventy
Speaker 2: three auctions taking place around the city today. Brisbane has
Speaker 2: seventy eight options now. Last week and of course long
Speaker 2: weekend in Sydney last weekend clearance rates came in as
Speaker 2: sixty six percent for Sydney and in Brisbane they came
Speaker 2: in at thirty nine percent. So it's kind of we're
Speaker 2: just slipping into that slower period, Luke. But let's see
Speaker 2: what happens in the next couple of weeks, just to
Speaker 2: see how kind of reactive I guess buyers are to
Speaker 2: the economy and all this global uncertainty.
Speaker 1: Indeed, right now our expensive and not so expensive buyers
Speaker 1: from last week in Sydney and in Brisbane East Linfield
Speaker 1: got the top figure. Did it In Sydney it.
Speaker 2: Did indeed, and this was a three bedroom house. Now,
Speaker 2: there were twelve bidders at this auction. Look it was
Speaker 2: an aged three bedroom home on around just a bit
Speaker 2: of a nine hundred square meter, so twelve bidters because
Speaker 2: basically it had the appeal of being able to be
Speaker 2: a knockdown house. But the bidding for this fun went
Speaker 2: bananas and someone paid four point five million dollars. Will
Speaker 2: essentially be a knockdown and then I'll rebuild their green
Speaker 2: behind a local family from the area, and the vendor's
Speaker 2: son apparently said to us that his parents were over
Speaker 2: the moon. They'd been in the house for twenty six
Speaker 2: years and clearly they were pragmatic about not to be
Speaker 2: emotional about it, because I think I'd be a bit
Speaker 2: of a wreck if that happened to me, knowing that
Speaker 2: someone was going to knock out in the house. But
Speaker 2: they obviously just could see the upside of the opportunity, yes,
Speaker 2: to make a very tidy profit on it. So a
Speaker 2: pretty incredible situation. That scene play out in different spots
Speaker 2: of Sydney, particularly when Heritage and I guess the development
Speaker 2: opportunities are there for some people in Brisbane. It was
Speaker 2: in Tentan Reef we had a lovely, very big, traditional
Speaker 2: kind of English style house with incredible views that sold
Speaker 2: for four point two one million dollars a three bedroom
Speaker 2: house there. And again we're just saying, if you're in
Speaker 2: that right location with beautiful views, people will absolutely pay
Speaker 2: for it if their pockets are deep enough.
Speaker 1: Yes. Indeed, just back to what you were saying there
Speaker 1: about the future of a person's property, and you hope
Speaker 1: you get through the process thinking, you know what, that
Speaker 1: was okay. But someone very close to me thought when
Speaker 1: they were selling their house to a person that made
Speaker 1: it clear that everything there was wonderful and they couldn't
Speaker 1: wait to live in it and it was fantastic blah
Speaker 1: blah blah, And they ended up doing a deal, only
Speaker 1: to find it a week after moving out the place
Speaker 1: was up for rent, and they thought, Wow, why wouldn't
Speaker 1: they just straight talk? You know, I hear what you're saying.
Speaker 1: People need to be honest about this stuff. And I guess,
Speaker 1: you know, you should be aware that people are trying
Speaker 1: to get an advantage or something. But that I think
Speaker 1: that is about heroe.
Speaker 2: People can see, yeah, some of them can sort of
Speaker 2: see what sort of an emotional vendor potentially how they
Speaker 2: react to. We've also seen situations in the market all
Speaker 2: around the country actually where where sometimes a very sort
Speaker 2: of plucky, particularly first home buyer, we'll go out and
Speaker 2: a limit often write a letter to a vendor and say,
Speaker 2: I absolutely love your house, here's my story about my
Speaker 2: proper ownership. And often if the vendor is that way inclined,
Speaker 2: they react very positively, taught and having some instance taken
Speaker 2: a lower offer from that first time buy purely for
Speaker 2: the emotional appeal of giving it to someone who is
Speaker 2: going to do the right thing with it. Now, in
Speaker 2: cases I'm talking about, there's been complete sincerityene honesty there.
Speaker 2: But I'm wonder if we're going to start seeing more
Speaker 2: of people kind of shaping their own narrative just to
Speaker 2: get a good deal. Probably unfortunately, is the answer to
Speaker 2: that one.
Speaker 1: Yeah, fascinating. Now the best buy is Sydney Harris Park.
Speaker 2: Yeah, look there was a place in Harris Park, two
Speaker 2: bedroom place, five hundred and eighty five thousand dollars. This
Speaker 2: one soulful and to me, you know what, Luke, This
Speaker 2: shows me that going out that little bit further or
Speaker 2: to sort of areas like this. Look, I mean two bath,
Speaker 2: one parking spot five hundred and eighty five thousand, pretty
Speaker 2: good buying in Sydney at the moment, knowing is our
Speaker 2: country's most expensive market and we rarely see anything with
Speaker 2: at least two bedrooms going under sort of seven hundred
Speaker 2: thousand at the moment, So a slight encouraging way of
Speaker 2: light for buyers there. Increstmead in Brisbane there was a
Speaker 2: home that for five bedrooms sold for six hundred and
Speaker 2: twenty five thousand dollars and needs a bit of love
Speaker 2: this place, But I'm hoping again that someone kind of
Speaker 2: makes the most of it and can do something quite
Speaker 2: clever there.
Speaker 1: Tell me about this new research from Domain looking at
Speaker 1: buyer search data and linking it with actual property listings
Speaker 1: and showcases are growing divide, doesn't Yeah?
Speaker 2: Look, this is what I sort of think about. Is
Speaker 2: that disconnect to what sellers expect when it comes to
Speaker 2: selling and what buyers are willing to pay Now it
Speaker 2: says to me a lot also about the fact that
Speaker 2: many buyers aren't really educating themselves enough about how quickly
Speaker 2: prices can move in certain parts, So I think the
Speaker 2: message means that buyers really need to go in with
Speaker 2: this with their eyes wide open and ensure they're really
Speaker 2: sort of o FA with what prices are at this
Speaker 2: current point in time, because the biggest mismatch, particularly in
Speaker 2: the Brisbane area, is that in those inner city suburbs
Speaker 2: and areas also like Sherwood, Interrapilli Candale, are also showing
Speaker 2: gaps of what buyers are willing to pay and what
Speaker 2: sellers are expecting to sell for. And I guess the
Speaker 2: reality is that we sort of see this imbalance in
Speaker 2: the market when we're just seeing a disconnection. People I
Speaker 2: guess aren't being realistic enough at what they have to pay,
Speaker 2: and sellers are also being overly bolshy about what they
Speaker 2: expect to get for the house, particularly I guess, giving
Speaker 2: the affordability constraints that we're seeing, especially in Brisbane in
Speaker 2: a growing way at the moment.
Speaker 1: Yes, well, that is that's really worth a look at.
Speaker 1: Go to the domain website to get all that information.
Speaker 1: Are you telling me that there's a two bedroom cottage
Speaker 1: in Wales that you can get for a couple of bucks?
Speaker 2: It's what I mean that these stories you can't you
Speaker 2: couldn't make them up. A two bedroom cottage is on
Speaker 2: the sale for two dollars. Now, Luke, brace yourself that
Speaker 2: this is completely in a derelict state. But it's in
Speaker 2: Pembroke Dock, a town in the rural countryside of South Wales.
Speaker 2: It overlooks a beautiful river, but basically there is so
Speaker 2: much work that needs to be done here. Now the
Speaker 2: cottage will be sold on an online auction and it's
Speaker 2: part of a collection of eighty properties being sold during
Speaker 2: a two day auction event. Now, of course people in
Speaker 2: Brisbane are all across the fact that they often have
Speaker 2: these super action events take place, a collection and properties
Speaker 2: listed at the same time. We don't see them very
Speaker 2: much in Australia except for in that Brizze market. But
Speaker 2: this place in the in Wales is absolutely having it.
Speaker 2: The lease hold goes for nine hundred and ninety nine years,
Speaker 2: but I just cannot imagine the work needs to be done.
Speaker 2: And look, my advice is also this, if it seems
Speaker 2: too good to be true, it normally is who knows
Speaker 2: what's going on here? In terms of development or in
Speaker 2: a particularly around the waterways. There can also be obstacles there,
Speaker 2: but certainly worth having a look a look at. If
Speaker 2: you've got a bit of an EU passport and potentially
Speaker 2: live over there, check it out.
Speaker 1: Yeah too, Bucks, goodness me, I'll be there in a
Speaker 1: few weeks. Actually I might just no, I won't back
Speaker 1: in a second Alic Stoles from the Domains were there's
Speaker 1: properties of the week. The first one in New South
Speaker 1: Wales to Barrel Award winning renovation architecturally designed place, five bed,
Speaker 1: three bar, three car. But what about in Brisbane We've
Speaker 1: got the home of a stuntman to the stars, is
Speaker 1: that right?
Speaker 2: That's right Jimmy Christian and who is like these stuntman
Speaker 2: in Australia and has looked after everybody from George Colony
Speaker 2: to Ryan Gossip. A beautiful house on Oak Beach. I
Speaker 2: mean that's the Port Douglas region, beautiful beachside sanctuary, six bed,
Speaker 2: four bath, two car. And I just think what a
Speaker 2: wonderful example of those little bolt holes you can go to,
Speaker 2: particularly if you're in a stressful job like being a stuntman.
Speaker 2: I can't imagine what that would be like Luke, So
Speaker 2: opportunity for somebody to kind of make their own little
Speaker 2: beautiful spot with someone who's been you know, touched the
Speaker 2: Hollywood stars.
Speaker 1: Yeah, that's fantastic. Hey, have a terrific weekend, Alex. I'll
Speaker 1: talk to in a week's time.
Speaker 2: Thanks so much, Thanks Luke.
Speaker 1: Everything we talk about. Go to domain dot com, dot
Speaker 1: a you and you can see the properties have interested
Speaker 1: in everything. That's all the research. They're really important information.
Speaker 1: If you're buying a home like I went through, you
Speaker 1: need domain