WEBVTT - Domain Property with Alice Stolz

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<v Speaker 1>And now the Real Estate Show thanks to Domain, Australia's

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<v Speaker 1>trusted property marketplace, So thanks to Domain. The National Property

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<v Speaker 1>editor at Domain, Alice Stoles, is with us again this morning.

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<v Speaker 1>Got a Alice, good morning, Luke. Great to be with you,

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<v Speaker 1>Nice to talk to you again. So much to get

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<v Speaker 1>through today. I guess we should begin where we normally do,

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<v Speaker 1>with a look at what's happening in both Sydney and

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<v Speaker 1>Brisbane in terms of auctions.

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<v Speaker 2>Big numbers are they indeed, well a little bit of

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<v Speaker 2>a dip today in Sydney six hundred and sixty nine

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<v Speaker 2>houses are going under the hammer, a bit of a

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<v Speaker 2>dip from last week. And in Brisbane we're saying eighty

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<v Speaker 2>seven auctions today, so not bad options for Brisbane. And

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<v Speaker 2>when we look at what happened last week, Luke, you

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<v Speaker 2>know we talked about those huge numbers in Sydney last

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<v Speaker 2>week and the clearance rate came in at sixty nine

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<v Speaker 2>percent in Sydney last week and that was with all

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<v Speaker 2>that volume, nearly seventy percent of stock was actually cleared,

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<v Speaker 2>so pretty yet again an encouraging result for sellers in Sydney.

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<v Speaker 2>Now Brisbane came in at forty five percent last weekend,

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<v Speaker 2>which which is pretty much in the realm of what

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<v Speaker 2>they often see week to week in the Brisbane market.

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<v Speaker 1>So let's have a look at the expensive sales and

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<v Speaker 1>the best buyers from last weekend. We can start with

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<v Speaker 1>Sydney if you like an East Lindfield.

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<v Speaker 2>Yeah, lovely, beautifully renovation house in East lynd Field solted

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<v Speaker 2>auction for five point three million dollars. Now, this is

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<v Speaker 2>a great example here. It's got five bed, four bath

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<v Speaker 2>but it's just that sort of turn key home. Look

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<v Speaker 2>can you kind of look at it? And I'm sure

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<v Speaker 2>these buyers thought nothing to do here except workout what

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<v Speaker 2>side of the you know what side of the bathroom

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<v Speaker 2>cabinet I'll put my toothbrush. And we increasingly see many

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<v Speaker 2>buyers just wanting that desirabilishyp of product that's ready to go.

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<v Speaker 2>Clearly that worked in the favor of that vendor last weekend.

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<v Speaker 2>And in Annelie In it's spent a lovely sort of

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<v Speaker 2>quite a period old house but it's kind of a

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<v Speaker 2>lovely old Queenslander style sold at auction last weekend in

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<v Speaker 2>the Brisbane market and came in at one point eight

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<v Speaker 2>five million dollars.

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<v Speaker 1>Geez, you know, that interesting. When we bought our place,

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<v Speaker 1>we thought we were buying something we'd have to do nothing too,

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<v Speaker 1>until we've spent a fortnight there and then thought, you

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<v Speaker 1>know what, a very it's a great sentiment, and you're

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<v Speaker 1>prepared to pay a bit more because you have to

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<v Speaker 1>do nothing, or so you think until you're there for

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<v Speaker 1>a couple of weeks ago, you know what. Anyway, just

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<v Speaker 1>an observation from me, but that's so true.

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<v Speaker 2>Look, I think it's a good anxiety. It's a good

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<v Speaker 2>thing for buyers to be aware of, Like, don't be

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<v Speaker 2>too lured by or dazzled by, you know, lovely freshly

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<v Speaker 2>painted homes where there it actually is sort of under

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<v Speaker 2>the surface things that they're doing. I guess that's also

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<v Speaker 2>why I'm not saying you didn't, but you should do

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<v Speaker 2>your due diligence and have a building inspection done, that

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<v Speaker 2>sort of thing, just to ensure this is just not

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<v Speaker 2>a vanity of spacelift and it is actually sort of

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<v Speaker 2>structurally in sound as well.

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<v Speaker 1>Yes, spot On best buyers from last week.

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<v Speaker 2>You look in Sydney an interesting one. It was a

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<v Speaker 2>townhouse in Preston's Now this sold for This was three

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<v Speaker 2>bedrooms and it sold for eight hundred and five thousand dollars. Now,

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<v Speaker 2>I think it's fair to say we very rarely have

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<v Speaker 2>a three bedroom property in Sydney go for eight hundred

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<v Speaker 2>and five thousand, but that did indeed take place last weekend,

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<v Speaker 2>a little townhouse. And again, the desirability of these at

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<v Speaker 2>the prices, particularly for first home buyers, remains quite high

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<v Speaker 2>at the moment, given where house prices are going, which

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<v Speaker 2>we can talk about in a bit. And in Brisbane

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<v Speaker 2>there was a house in Logan Reserves that sold for

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<v Speaker 2>eight hundred thousand dollars for bed property and that was

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<v Speaker 2>the best buy there. So yet again that Brisbane market

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<v Speaker 2>basically on par with Sydney last week compared to the

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<v Speaker 2>most affordable property for sale there.

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<v Speaker 1>Now this week Domain release its price Forecast report predicting

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<v Speaker 1>what the property market would look like in the next year.

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<v Speaker 1>What were the findings.

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<v Speaker 2>Yeah, look, it's it's pretty oigh ordering stuff, particularly if

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<v Speaker 2>you're a first time buyer. The news is not great.

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<v Speaker 2>Property prices are expected to grow around seven percent in

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<v Speaker 2>the Sydney market over the year ahead and five percent

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<v Speaker 2>in the Brisbane market. Now, again there's this sort of

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<v Speaker 2>contrarian situation here because it's great news if you're a homeowner,

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<v Speaker 2>they'll be delighted, no doubt with seeing more growth realized

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<v Speaker 2>in their neighborhood. However, again that challenge for first home

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<v Speaker 2>buyers because what it means is in Sydney we may

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<v Speaker 2>well crack one point eight three million dollars for the

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<v Speaker 2>medium the average past price in the Sydney market, and

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<v Speaker 2>the Brisbane market's likely just to sort of just touch

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<v Speaker 2>one point one million dollars. So it's an interesting conundrum because,

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<v Speaker 2>as I said, for some people it's going to be

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<v Speaker 2>very welcome news, but for others it just makes that

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<v Speaker 2>so much more challenging than ability to get into the market.

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<v Speaker 1>Yeah, gosh, seven percent. Wow. Now, I always like these

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<v Speaker 1>conversations talking here about tree change towns, and we hear

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<v Speaker 1>from time to time suggestions of you know what the

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<v Speaker 1>hot tree change places are, and there's some interesting work

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<v Speaker 1>from Domain tell me about this.

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<v Speaker 2>Yeah. Look, tree changes obviously a hugely hot topic a

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<v Speaker 2>few years ago when people were sort of taking them

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<v Speaker 2>during the COVID period. And what we've seen though is

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<v Speaker 2>we saw really sort of turbocharged rises take place during

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<v Speaker 2>those years and then many of them drop back. It again.

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<v Speaker 2>But what we've done is actually look at the ones

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<v Speaker 2>who have kind of sort of remain managed to last

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<v Speaker 2>the distance. I guess they weren't kind of one hit

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<v Speaker 2>wonders now. Leading that is of no surprise to probably

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<v Speaker 2>many people was Byron Bay. Now, you know in March

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<v Speaker 2>twenty twenty that was around nine hundred and thirty thousand

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<v Speaker 2>dollars and now in March twenty twenty five hit one

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<v Speaker 2>point six million dollars, So it's a seventy percent rise

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<v Speaker 2>in that region. They're similar for kyamar In in South Wales

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<v Speaker 2>up sixty nine percent and again and Queensland. We saw

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<v Speaker 2>it happen in NUSA, you know in March this is

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<v Speaker 2>hard to imagine in March twenty twenty, Look, seven hundred

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<v Speaker 2>and fifty thousand dollars was a meeting house prices. Now

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<v Speaker 2>it's one point two seven five million dollars, so nuts.

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<v Speaker 2>Just howirable those areas have remained.

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<v Speaker 1>And that's it, the desirable did you say lifestyle locations?

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<v Speaker 2>That's what it is. And part of the appeal of

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<v Speaker 2>them is because it has this, I guess, the best

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<v Speaker 2>of both worlds. You've got a lovely sort of it

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<v Speaker 2>feels a bit like you're sort of regional, but you

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<v Speaker 2>have usually a sort of wonderful community there, a very

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<v Speaker 2>beautiful area if you want to rent it out, it's

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<v Speaker 2>very highly desirable. So it also makes a good investment

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<v Speaker 2>spot and you can have you know, chances I you've

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<v Speaker 2>got a great neighborhood there, You've got your mates that

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<v Speaker 2>you might have had from the city years ago are

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<v Speaker 2>also living there now as well. So people have managed

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<v Speaker 2>to sort of hit that sweet spot I guess from

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<v Speaker 2>happening as I said, like the best of both worlds

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<v Speaker 2>rather than having to give up something for the other.

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<v Speaker 2>And that's what we call a classic lifestyle area. And

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<v Speaker 2>they're the areas that continue to be in very high demands.

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<v Speaker 1>Yeah, fascinating. All right, else, we'll take a break here.

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<v Speaker 1>I'm back and look at the unique properties of the

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<v Speaker 1>week were in Sydney. We're off to the Rocks and

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<v Speaker 1>we're off to Port Douglas if you don't mind after this.

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<v Speaker 1>Now every year, Domain is trusted by millions of Australians

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<v Speaker 1>to buy, rent and sell their home. Domain has access

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<v Speaker 1>to the most current, comprehensive and unique housing data in Australia,

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<v Speaker 1>helping you to navigate the market and make informed decisions

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<v Speaker 1>on matters that impact your home and property. You can

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<v Speaker 1>see everything we talk about today at domain dot com

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<v Speaker 1>dot au. Alice stoles with us as she is each Saturday,

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<v Speaker 1>and Alice, we're about to go to the unique properties

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<v Speaker 1>of the week. We might start at the Rocks in Sydney.

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<v Speaker 2>Okay, we're going up market today. Luke Nay a triple

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<v Speaker 2>level penthouse. Now, it's called the Skyhouse. It's in the

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<v Speaker 2>Harry Sidler design Cove building down by the Rocks. And

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<v Speaker 2>this is like nothing I've ever seen before. It's got

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<v Speaker 2>five superside bedrooms, seven bathrooms, and it's spread over nearly

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<v Speaker 2>seven hundred square meters. So when they say this is

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<v Speaker 2>an apartment, I mean this is kind of like a

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<v Speaker 2>sort of a super sized apartment. I guess. It has

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<v Speaker 2>a private internnel lift across all three floors in case

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<v Speaker 2>you're worried about how many steps you're going to clock

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<v Speaker 2>up throughout the day, a self contained little wing for

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<v Speaker 2>nanny or a guest ring with its own private entrance,

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<v Speaker 2>gornway kitchen, butler's pantry, and this incredible rooftop terrace that

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<v Speaker 2>was inspired by a super yacht. Would you believe now

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<v Speaker 2>if this is all sounding pretty good, I have to

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<v Speaker 2>have a water caution. The price guard for it is

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<v Speaker 2>thirty million dollars.

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<v Speaker 1>Right Jack, you had me up until water. Isn't it

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<v Speaker 1>just nuts?

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<v Speaker 2>Though? To think just how expensive decent the places are?

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<v Speaker 2>I mean, it's just mind boggling. But I guess it

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<v Speaker 2>shows the strength of the Australian property market that those

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<v Speaker 2>these places do turn over, would you believe? But a

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<v Speaker 2>bit something a little bit different or some import Douglas

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<v Speaker 2>today this is.

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<v Speaker 1>I've got pictures at this place in front of me,

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<v Speaker 1>and this is this also.

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<v Speaker 2>Wow, It's beautiful, isn't it? Luke? And I mean this location,

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<v Speaker 2>how lucky we in Austraya have spots like this. It's

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<v Speaker 2>basically on that island point of flag Stuff Hill and

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<v Speaker 2>it's this beautiful architectural home, a saltwater pool with year

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<v Speaker 2>round temperature control and this incredibly modern house inside. And

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<v Speaker 2>it's had a complete revamp. The owners have obviously gone

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<v Speaker 2>all out and have thrown a lot of Italian marble

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<v Speaker 2>and Morano chandeliers at it. So it kind of almost

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<v Speaker 2>is reflective of you know, the bright colors of the

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<v Speaker 2>Great Berrier inside this house. But I've got to say,

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<v Speaker 2>I'd just be happy in that garden there. Apparently it's

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<v Speaker 2>got some three thousand newly planted orchids in the garden,

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<v Speaker 2>with these beautiful tropical flowers all over that estate. Now

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<v Speaker 2>that one's on the market for six million dollars. So

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<v Speaker 2>I mean, I'm not really bringing much to the affordability today,

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<v Speaker 2>but perhaps next week I will. But I do think

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<v Speaker 2>it's important to sort of have a bit of inspiration

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<v Speaker 2>every now and then of just thinking, gosh, we live

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<v Speaker 2>in a pretty spectacular country. We do get an expensive

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<v Speaker 2>one at some porous point.

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<v Speaker 1>Yeah, so there's two thousand square meters, three levels, indeed,

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<v Speaker 1>and it's six million plus and you've got the all

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<v Speaker 1>round heated pool and all the other things, or an apartment.

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<v Speaker 2>With the I'm then it walked to that four mile beach,

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<v Speaker 2>which I just think getting up there each day, tootling

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<v Speaker 2>on down there and got a bit of a dip

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<v Speaker 2>in the morning there.

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<v Speaker 1>You know, without being critical, it's a shame that the

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<v Speaker 1>pictures of the Port Douglas property aren't a little more

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<v Speaker 1>warm than just the white timberfore tile. Look, you know,

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<v Speaker 1>even the bookshelves put some bloody books in them.

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<v Speaker 2>It's so interesting because I mean people obviously try to

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<v Speaker 2>appeal to a boarder, pull the buys. And I agree

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<v Speaker 2>with you personally that when people add that little bit

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<v Speaker 2>of character and uniqueness to a property, it makes you.

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<v Speaker 2>I think it's easier to sort of understand living in

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<v Speaker 2>a place like that.

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<v Speaker 1>Picture yourself there, can't you.

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<v Speaker 2>That's right, But meant more and more people who are

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<v Speaker 2>offering very homogenized times, I always encourage people to sort

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<v Speaker 2>of stand out in a gentle way to sort of

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<v Speaker 2>make it look like a warm, emotionally kind of charged

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<v Speaker 2>house that you're going to have a lovely life potentially.

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<v Speaker 1>Yeah. Absolutely, all right, Alice, have a wonderful weekend. Great

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<v Speaker 1>to chat to you again. That was terrific today. I'm

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<v Speaker 1>having a couple of weeks off, but I'll I'll resume

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<v Speaker 1>our conversation. They'll continue on the show, but we'll talk

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<v Speaker 1>again in a few weeks. Stay well, Thank you, Luke. Likewise,

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<v Speaker 1>National property editor at Domain, Alice Stoles. Yeah, I mean

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<v Speaker 1>we love chatting to Alice each week. But I don't

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<v Speaker 1>know anyone that says, hey, let's get let's get ten

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<v Speaker 1>or twelve or fifteen bookshelves, paint, the mite and leave

0:11:48.080 --> 0:11:52.080
<v Speaker 1>them empty. I don't want to be critical, but you

0:11:52.160 --> 0:11:54.800
<v Speaker 1>want to almost have some idea of what your stuff

0:11:54.880 --> 0:11:58.280
<v Speaker 1>might look like. Or I don't know, maybe maybe I'm

0:11:59.080 --> 0:12:02.120
<v Speaker 1>what I'm sounding like the odblog on the radio again.

0:12:02.280 --> 0:12:05.360
<v Speaker 1>Damn it, it's not right.