Speaker 1: And now the Real Estate Show thanks to Domain, Australia's
Speaker 1: trusted property marketplace, So thanks to Domain. The National Property
Speaker 1: editor at Domain, Alice Stoles, is with us again this morning.
Speaker 1: Got a Alice, good morning, Luke. Great to be with you,
Speaker 1: Nice to talk to you again. So much to get
Speaker 1: through today. I guess we should begin where we normally do,
Speaker 1: with a look at what's happening in both Sydney and
Speaker 1: Brisbane in terms of auctions.
Speaker 2: Big numbers are they indeed, well a little bit of
Speaker 2: a dip today in Sydney six hundred and sixty nine
Speaker 2: houses are going under the hammer, a bit of a
Speaker 2: dip from last week. And in Brisbane we're saying eighty
Speaker 2: seven auctions today, so not bad options for Brisbane. And
Speaker 2: when we look at what happened last week, Luke, you
Speaker 2: know we talked about those huge numbers in Sydney last
Speaker 2: week and the clearance rate came in at sixty nine
Speaker 2: percent in Sydney last week and that was with all
Speaker 2: that volume, nearly seventy percent of stock was actually cleared,
Speaker 2: so pretty yet again an encouraging result for sellers in Sydney.
Speaker 2: Now Brisbane came in at forty five percent last weekend,
Speaker 2: which which is pretty much in the realm of what
Speaker 2: they often see week to week in the Brisbane market.
Speaker 1: So let's have a look at the expensive sales and
Speaker 1: the best buyers from last weekend. We can start with
Speaker 1: Sydney if you like an East Lindfield.
Speaker 2: Yeah, lovely, beautifully renovation house in East lynd Field solted
Speaker 2: auction for five point three million dollars. Now, this is
Speaker 2: a great example here. It's got five bed, four bath
Speaker 2: but it's just that sort of turn key home. Look
Speaker 2: can you kind of look at it? And I'm sure
Speaker 2: these buyers thought nothing to do here except workout what
Speaker 2: side of the you know what side of the bathroom
Speaker 2: cabinet I'll put my toothbrush. And we increasingly see many
Speaker 2: buyers just wanting that desirabilishyp of product that's ready to go.
Speaker 2: Clearly that worked in the favor of that vendor last weekend.
Speaker 2: And in Annelie In it's spent a lovely sort of
Speaker 2: quite a period old house but it's kind of a
Speaker 2: lovely old Queenslander style sold at auction last weekend in
Speaker 2: the Brisbane market and came in at one point eight
Speaker 2: five million dollars.
Speaker 1: Geez, you know, that interesting. When we bought our place,
Speaker 1: we thought we were buying something we'd have to do nothing too,
Speaker 1: until we've spent a fortnight there and then thought, you
Speaker 1: know what, a very it's a great sentiment, and you're
Speaker 1: prepared to pay a bit more because you have to
Speaker 1: do nothing, or so you think until you're there for
Speaker 1: a couple of weeks ago, you know what. Anyway, just
Speaker 1: an observation from me, but that's so true.
Speaker 2: Look, I think it's a good anxiety. It's a good
Speaker 2: thing for buyers to be aware of, Like, don't be
Speaker 2: too lured by or dazzled by, you know, lovely freshly
Speaker 2: painted homes where there it actually is sort of under
Speaker 2: the surface things that they're doing. I guess that's also
Speaker 2: why I'm not saying you didn't, but you should do
Speaker 2: your due diligence and have a building inspection done, that
Speaker 2: sort of thing, just to ensure this is just not
Speaker 2: a vanity of spacelift and it is actually sort of
Speaker 2: structurally in sound as well.
Speaker 1: Yes, spot On best buyers from last week.
Speaker 2: You look in Sydney an interesting one. It was a
Speaker 2: townhouse in Preston's Now this sold for This was three
Speaker 2: bedrooms and it sold for eight hundred and five thousand dollars. Now,
Speaker 2: I think it's fair to say we very rarely have
Speaker 2: a three bedroom property in Sydney go for eight hundred
Speaker 2: and five thousand, but that did indeed take place last weekend,
Speaker 2: a little townhouse. And again, the desirability of these at
Speaker 2: the prices, particularly for first home buyers, remains quite high
Speaker 2: at the moment, given where house prices are going, which
Speaker 2: we can talk about in a bit. And in Brisbane
Speaker 2: there was a house in Logan Reserves that sold for
Speaker 2: eight hundred thousand dollars for bed property and that was
Speaker 2: the best buy there. So yet again that Brisbane market
Speaker 2: basically on par with Sydney last week compared to the
Speaker 2: most affordable property for sale there.
Speaker 1: Now this week Domain release its price Forecast report predicting
Speaker 1: what the property market would look like in the next year.
Speaker 1: What were the findings.
Speaker 2: Yeah, look, it's it's pretty oigh ordering stuff, particularly if
Speaker 2: you're a first time buyer. The news is not great.
Speaker 2: Property prices are expected to grow around seven percent in
Speaker 2: the Sydney market over the year ahead and five percent
Speaker 2: in the Brisbane market. Now, again there's this sort of
Speaker 2: contrarian situation here because it's great news if you're a homeowner,
Speaker 2: they'll be delighted, no doubt with seeing more growth realized
Speaker 2: in their neighborhood. However, again that challenge for first home
Speaker 2: buyers because what it means is in Sydney we may
Speaker 2: well crack one point eight three million dollars for the
Speaker 2: medium the average past price in the Sydney market, and
Speaker 2: the Brisbane market's likely just to sort of just touch
Speaker 2: one point one million dollars. So it's an interesting conundrum because,
Speaker 2: as I said, for some people it's going to be
Speaker 2: very welcome news, but for others it just makes that
Speaker 2: so much more challenging than ability to get into the market.
Speaker 1: Yeah, gosh, seven percent. Wow. Now, I always like these
Speaker 1: conversations talking here about tree change towns, and we hear
Speaker 1: from time to time suggestions of you know what the
Speaker 1: hot tree change places are, and there's some interesting work
Speaker 1: from Domain tell me about this.
Speaker 2: Yeah. Look, tree changes obviously a hugely hot topic a
Speaker 2: few years ago when people were sort of taking them
Speaker 2: during the COVID period. And what we've seen though is
Speaker 2: we saw really sort of turbocharged rises take place during
Speaker 2: those years and then many of them drop back. It again.
Speaker 2: But what we've done is actually look at the ones
Speaker 2: who have kind of sort of remain managed to last
Speaker 2: the distance. I guess they weren't kind of one hit
Speaker 2: wonders now. Leading that is of no surprise to probably
Speaker 2: many people was Byron Bay. Now, you know in March
Speaker 2: twenty twenty that was around nine hundred and thirty thousand
Speaker 2: dollars and now in March twenty twenty five hit one
Speaker 2: point six million dollars, So it's a seventy percent rise
Speaker 2: in that region. They're similar for kyamar In in South Wales
Speaker 2: up sixty nine percent and again and Queensland. We saw
Speaker 2: it happen in NUSA, you know in March this is
Speaker 2: hard to imagine in March twenty twenty, Look, seven hundred
Speaker 2: and fifty thousand dollars was a meeting house prices. Now
Speaker 2: it's one point two seven five million dollars, so nuts.
Speaker 2: Just howirable those areas have remained.
Speaker 1: And that's it, the desirable did you say lifestyle locations?
Speaker 2: That's what it is. And part of the appeal of
Speaker 2: them is because it has this, I guess, the best
Speaker 2: of both worlds. You've got a lovely sort of it
Speaker 2: feels a bit like you're sort of regional, but you
Speaker 2: have usually a sort of wonderful community there, a very
Speaker 2: beautiful area if you want to rent it out, it's
Speaker 2: very highly desirable. So it also makes a good investment
Speaker 2: spot and you can have you know, chances I you've
Speaker 2: got a great neighborhood there, You've got your mates that
Speaker 2: you might have had from the city years ago are
Speaker 2: also living there now as well. So people have managed
Speaker 2: to sort of hit that sweet spot I guess from
Speaker 2: happening as I said, like the best of both worlds
Speaker 2: rather than having to give up something for the other.
Speaker 2: And that's what we call a classic lifestyle area. And
Speaker 2: they're the areas that continue to be in very high demands.
Speaker 1: Yeah, fascinating. All right, else, we'll take a break here.
Speaker 1: I'm back and look at the unique properties of the
Speaker 1: week were in Sydney. We're off to the Rocks and
Speaker 1: we're off to Port Douglas if you don't mind after this.
Speaker 1: Now every year, Domain is trusted by millions of Australians
Speaker 1: to buy, rent and sell their home. Domain has access
Speaker 1: to the most current, comprehensive and unique housing data in Australia,
Speaker 1: helping you to navigate the market and make informed decisions
Speaker 1: on matters that impact your home and property. You can
Speaker 1: see everything we talk about today at domain dot com
Speaker 1: dot au. Alice stoles with us as she is each Saturday,
Speaker 1: and Alice, we're about to go to the unique properties
Speaker 1: of the week. We might start at the Rocks in Sydney.
Speaker 2: Okay, we're going up market today. Luke Nay a triple
Speaker 2: level penthouse. Now, it's called the Skyhouse. It's in the
Speaker 2: Harry Sidler design Cove building down by the Rocks. And
Speaker 2: this is like nothing I've ever seen before. It's got
Speaker 2: five superside bedrooms, seven bathrooms, and it's spread over nearly
Speaker 2: seven hundred square meters. So when they say this is
Speaker 2: an apartment, I mean this is kind of like a
Speaker 2: sort of a super sized apartment. I guess. It has
Speaker 2: a private internnel lift across all three floors in case
Speaker 2: you're worried about how many steps you're going to clock
Speaker 2: up throughout the day, a self contained little wing for
Speaker 2: nanny or a guest ring with its own private entrance,
Speaker 2: gornway kitchen, butler's pantry, and this incredible rooftop terrace that
Speaker 2: was inspired by a super yacht. Would you believe now
Speaker 2: if this is all sounding pretty good, I have to
Speaker 2: have a water caution. The price guard for it is
Speaker 2: thirty million dollars.
Speaker 1: Right Jack, you had me up until water. Isn't it
Speaker 1: just nuts?
Speaker 2: Though? To think just how expensive decent the places are?
Speaker 2: I mean, it's just mind boggling. But I guess it
Speaker 2: shows the strength of the Australian property market that those
Speaker 2: these places do turn over, would you believe? But a
Speaker 2: bit something a little bit different or some import Douglas
Speaker 2: today this is.
Speaker 1: I've got pictures at this place in front of me,
Speaker 1: and this is this also.
Speaker 2: Wow, It's beautiful, isn't it? Luke? And I mean this location,
Speaker 2: how lucky we in Austraya have spots like this. It's
Speaker 2: basically on that island point of flag Stuff Hill and
Speaker 2: it's this beautiful architectural home, a saltwater pool with year
Speaker 2: round temperature control and this incredibly modern house inside. And
Speaker 2: it's had a complete revamp. The owners have obviously gone
Speaker 2: all out and have thrown a lot of Italian marble
Speaker 2: and Morano chandeliers at it. So it kind of almost
Speaker 2: is reflective of you know, the bright colors of the
Speaker 2: Great Berrier inside this house. But I've got to say,
Speaker 2: I'd just be happy in that garden there. Apparently it's
Speaker 2: got some three thousand newly planted orchids in the garden,
Speaker 2: with these beautiful tropical flowers all over that estate. Now
Speaker 2: that one's on the market for six million dollars. So
Speaker 2: I mean, I'm not really bringing much to the affordability today,
Speaker 2: but perhaps next week I will. But I do think
Speaker 2: it's important to sort of have a bit of inspiration
Speaker 2: every now and then of just thinking, gosh, we live
Speaker 2: in a pretty spectacular country. We do get an expensive
Speaker 2: one at some porous point.
Speaker 1: Yeah, so there's two thousand square meters, three levels, indeed,
Speaker 1: and it's six million plus and you've got the all
Speaker 1: round heated pool and all the other things, or an apartment.
Speaker 2: With the I'm then it walked to that four mile beach,
Speaker 2: which I just think getting up there each day, tootling
Speaker 2: on down there and got a bit of a dip
Speaker 2: in the morning there.
Speaker 1: You know, without being critical, it's a shame that the
Speaker 1: pictures of the Port Douglas property aren't a little more
Speaker 1: warm than just the white timberfore tile. Look, you know,
Speaker 1: even the bookshelves put some bloody books in them.
Speaker 2: It's so interesting because I mean people obviously try to
Speaker 2: appeal to a boarder, pull the buys. And I agree
Speaker 2: with you personally that when people add that little bit
Speaker 2: of character and uniqueness to a property, it makes you.
Speaker 2: I think it's easier to sort of understand living in
Speaker 2: a place like that.
Speaker 1: Picture yourself there, can't you.
Speaker 2: That's right, But meant more and more people who are
Speaker 2: offering very homogenized times, I always encourage people to sort
Speaker 2: of stand out in a gentle way to sort of
Speaker 2: make it look like a warm, emotionally kind of charged
Speaker 2: house that you're going to have a lovely life potentially.
Speaker 1: Yeah. Absolutely, all right, Alice, have a wonderful weekend. Great
Speaker 1: to chat to you again. That was terrific today. I'm
Speaker 1: having a couple of weeks off, but I'll I'll resume
Speaker 1: our conversation. They'll continue on the show, but we'll talk
Speaker 1: again in a few weeks. Stay well, Thank you, Luke. Likewise,
Speaker 1: National property editor at Domain, Alice Stoles. Yeah, I mean
Speaker 1: we love chatting to Alice each week. But I don't
Speaker 1: know anyone that says, hey, let's get let's get ten
Speaker 1: or twelve or fifteen bookshelves, paint, the mite and leave
Speaker 1: them empty. I don't want to be critical, but you
Speaker 1: want to almost have some idea of what your stuff
Speaker 1: might look like. Or I don't know, maybe maybe I'm
Speaker 1: what I'm sounding like the odblog on the radio again.
Speaker 1: Damn it, it's not right.