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. Yeah, it's time now to find out

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<v Speaker 1>what's happening on the property market in Sydney and Brisbane

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<v Speaker 1>thanks to our mates at Domain. I'm pleased to say

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<v Speaker 1>that the national Property editor at Domain, Alice Stoles, is

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<v Speaker 1>on the line and joins me again this weekend. Hi, Alis,

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<v Speaker 1>good morning, Luke.

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<v Speaker 2>Great to be with you.

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<v Speaker 1>I hope things are good with you. Let's kick off

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<v Speaker 1>with where we normally do with the auction numbers and

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<v Speaker 1>how are they looking today.

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<v Speaker 2>Things are good, Luke, and Sydney buyers have a lot

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<v Speaker 2>of choice today. Nine hundred and sixty five houses are

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<v Speaker 2>going under the hammino. This is the biggest weekend Sydney's

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<v Speaker 2>had this month, so pretty pretty spoiled for choice. Yes,

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<v Speaker 2>we could say Brisbane had a habit of a drop

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<v Speaker 2>in auction numbers. That's down to seventy four auctions going

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<v Speaker 2>under the hammer today, so probably better conditions for sellers.

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<v Speaker 2>Dare I say that there's not as much choice that

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<v Speaker 2>buyers kind of get corraled into buying whatever's on the

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<v Speaker 2>market today.

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<v Speaker 1>It sounds like, yeah, so how do we end up

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<v Speaker 1>here because I think you might have even flagged this

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<v Speaker 1>last week. Big numbers in Sydney not so in Brisbane.

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<v Speaker 1>I mean, they're both beautiful cities in Australia. What's the difference,

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<v Speaker 1>do you think?

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<v Speaker 2>Yeah, well, a lot of it's because obviously interest rates

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<v Speaker 2>sort of play a part in this. But these are

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<v Speaker 2>obviously been booked in these campaigns sort of five six

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<v Speaker 2>weeks ago. And I think we know that the seasonality

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<v Speaker 2>of the Brisbane market is quite different from the Sydney market.

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<v Speaker 2>Auctions basically start the year there quite quickly and quite

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<v Speaker 2>early in January, whereas the Sydney market a bit more

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<v Speaker 2>Laxadasians that it takes a while to warm up, shall

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<v Speaker 2>we say, and auctions really kick off there in February.

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<v Speaker 2>So what we find is it into the winter month.

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<v Speaker 2>Sydney kind of lasts a little bit longer before it

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<v Speaker 2>tapers down into that winter hiatus, but Brisbane's pretty much

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<v Speaker 2>already into that lower gear, it seems.

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<v Speaker 1>Gotcha all right, clearance raked from last week.

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<v Speaker 2>Well, Sydney had a big weekend and it came in

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<v Speaker 2>at seventy percent, And I mean, I'm not sure if

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<v Speaker 2>you and the listeners looked around town, but we saw

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<v Speaker 2>lots of bidding at auction, Luke and I really think

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<v Speaker 2>we noticed that sort of I guess a bit more

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<v Speaker 2>confidence from buyers to sort of stretch a little bit further.

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<v Speaker 2>And I'm not talking about crazy, crazy amounts, but I

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<v Speaker 2>just saw quite a few options whether that competition remained

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<v Speaker 2>very tight to the very end. So I think the

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<v Speaker 2>Sydney market seems to be responding very well to that

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<v Speaker 2>interest rate cut. Brisbane's clearance right coming at forty three percent,

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<v Speaker 2>which was consistent week on week. Obviously a less auction

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<v Speaker 2>centric market, but it's interesting watching that market in Brisbane

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<v Speaker 2>just kind of get their head around auctions a bit more,

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<v Speaker 2>and we're seeing more and more. I guess sellers choose

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<v Speaker 2>that method.

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<v Speaker 1>Of saleh Alright, our expensive buyers from last week in

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<v Speaker 1>Brisbane at Sunny Banking, Sydney Elizabeth Bay.

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<v Speaker 2>Yeah, it was a home in a Sunny Bank that

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<v Speaker 2>sold for one point eight five million dollars in Brisbane,

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<v Speaker 2>a five bedroom home with a granny flat. Now we

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<v Speaker 2>know how much value granny flats add. People love the

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<v Speaker 2>thought of them, whether it's for their home office, whether

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<v Speaker 2>they let it out for short term accommodation or put

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<v Speaker 2>a kid adult in. It always strikes a lot of

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<v Speaker 2>desirability with people. And in Sydney it was Elizabeth Bay.

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<v Speaker 2>An apartment there sold for six point four to five

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<v Speaker 2>million dollars with beautiful views over the harbor and all

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<v Speaker 2>the bells and whistles that one can imagine from a

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<v Speaker 2>property that sort of manages to get a figure like that.

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<v Speaker 2>Six point four to five minute not bad?

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<v Speaker 1>Is it not bad? Three bedrooms, had two bathrooms and

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<v Speaker 1>a car space and an apartment Elizabeth Bay six and

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<v Speaker 1>a half million if you don't mind. What about value

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<v Speaker 1>there was that seems extraordinary value at Paddington in Sydney.

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<v Speaker 2>Yeah, I love his story. So it's a little studio

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<v Speaker 2>flat that's sold in glen View Street, Paddington that's sold

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<v Speaker 2>for four hundred and seventy nine thousand dollars. Now, as

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<v Speaker 2>I said, it is just a studio, so it's not

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<v Speaker 2>even a standalone one bedroom unit. But it does have

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<v Speaker 2>parking on site, but you can't let it out, so

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<v Speaker 2>it's not attached to the title. There is parking for residents.

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<v Speaker 2>And I thought, what a wonderful story that we're on

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<v Speaker 2>the say, sort of second floor Deco style brick apartment

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<v Speaker 2>sold for sort of a figure that is kind of

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<v Speaker 2>you know, imaginable for some first time buys in particular,

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<v Speaker 2>and I think it's a good example of ways that

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<v Speaker 2>people can get onto the market. And maybe they won't

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<v Speaker 2>live in that place forever, Lou. Clearly they're probably going

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<v Speaker 2>to outgrow it if they have a family or want

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<v Speaker 2>some more space in the future, but it could be

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<v Speaker 2>a good little investment for someone to think about options

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<v Speaker 2>like that, given it was under five hundred thousand dollars,

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<v Speaker 2>which is well and truly below the meeting in Sydney.

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<v Speaker 1>And have Paddington on your on your business card, I

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<v Speaker 1>live in Paddington. I have to tell them anything else, yees.

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<v Speaker 1>So you were going to tell me about Brisbane.

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<v Speaker 2>Yeah, it was. We had a house I went to

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<v Speaker 2>market in Pekember. Now, this five bedroom house sold for

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<v Speaker 2>seven hundred and forty thousand dollars. So what we're really

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<v Speaker 2>seeing is that affordability in Brisbane that people are I

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<v Speaker 2>guess just going further out to get bang for their buck,

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<v Speaker 2>because really, in most it is in Australia wouldn't find

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<v Speaker 2>a five bedroom house for that price. So clearly people

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<v Speaker 2>driven by price primarily are going that a little bit

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<v Speaker 2>further out and they're getting what they want. And in

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<v Speaker 2>this case it was a five bedroom, two bar, four

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<v Speaker 2>car house for seven hundred and forty thousand dollars.

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<v Speaker 1>Jeez, Now tell me about domain sustainability and probably report

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<v Speaker 1>it's revealed that energy efficient homes are not only fetching

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<v Speaker 1>premium prices, but and how high on the wish list.

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<v Speaker 1>I guess the cost of living is so crippling for

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<v Speaker 1>many that if you can get a place where you

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<v Speaker 1>don't have to spend almost a mortgage repayment on your

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<v Speaker 1>power bills, then it's a big tick.

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<v Speaker 2>Yes, I think energy efficient homes are sort of the

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<v Speaker 2>gift that keeps on giving in that you can reduce

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<v Speaker 2>the power bills. But what we are also seeing in

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<v Speaker 2>the data is that when it comes to selling it,

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<v Speaker 2>you will make a premium on it. In Sydney alone,

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<v Speaker 2>energy efficient houses sold for twelve and a half percent

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<v Speaker 2>on average more than non energy efficient homes and that's

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<v Speaker 2>around one hundred and eighty thousand dollars extra. Now in

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<v Speaker 2>Brisbane it wasn't as extreme as that. They're selling for

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<v Speaker 2>a four ten point one percent more one hundred and

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<v Speaker 2>twenty k more than non energy efficient houses. But what

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<v Speaker 2>we're seeing is I think this, you know what did

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<v Speaker 2>appear a very niche sustainable housing and energy efficiency. And

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<v Speaker 2>remember when solar panels were kind of rare and now

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<v Speaker 2>increasingly becoming sort of a compulsory feature for many people

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<v Speaker 2>when it comes to buying their house, and they want

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<v Speaker 2>it for the saving that they get through those energy bills,

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<v Speaker 2>and they're also wanting i think, to obviously help the planet,

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<v Speaker 2>but also knowing they're going to make that money back

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<v Speaker 2>when it comes time as selling. So you know, for

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<v Speaker 2>a lot of people, it is that initial outcost of

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<v Speaker 2>whether it's double glazing the windows, you know, changing the

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<v Speaker 2>orientation of a house when you're designing it, if you

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<v Speaker 2>are doing it from scratch to have a northern orientation,

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<v Speaker 2>making really energy efficient heating choices, they can obviously cost

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<v Speaker 2>more in the beginning, but it seems the rewards are

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<v Speaker 2>well and truly being met as the house grows in

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<v Speaker 2>value down the track.

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<v Speaker 1>Now we can buy an island, is that what you're suggesting?

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<v Speaker 2>I mean, how often do I get to say that

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<v Speaker 2>there is an island for sale off Northern Queensland. It's

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<v Speaker 2>three k's off Cape Palmerston National Park, which is sixty

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<v Speaker 2>k southeast of Mackay. Now, this is a forty nine

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<v Speaker 2>point seven hectare island and on this island is a

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<v Speaker 2>three bedroom house. Now the house is owned by two

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<v Speaker 2>families and one of the families are selling out their

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<v Speaker 2>share and with that house you get the island. It's

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<v Speaker 2>quite extraordinary. And this is the only house on the island.

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<v Speaker 2>And it's got a little air strip so you can

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<v Speaker 2>ride it on your own little private private plane if

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<v Speaker 2>you don't mind, or a ten minute boat. A ten

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<v Speaker 2>minute boat trip from the coast. Now, this is apparently

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<v Speaker 2>absolutely spectacular. You can go snort clean are on those

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<v Speaker 2>beautiful waters, the coral reefs are there, and pristine bushland

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<v Speaker 2>to explore. But it's on the market for six hundred

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<v Speaker 2>thousand dollars. Wow, I just think and I'm sort of

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<v Speaker 2>watching if other than media around the world picking this

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<v Speaker 2>story up, because as someone mentioned, it's the fraction of

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<v Speaker 2>a car. It's basically what you pay for a parking

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<v Speaker 2>spot in Sydney.

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<v Speaker 1>Sometimes you can you know, if uber eads deliver, I

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<v Speaker 1>don't know, but.

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<v Speaker 2>Funny you should ask that, Luke, because I had to

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<v Speaker 2>laugh at the listing. It's said that the island does

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<v Speaker 2>have coverage for Optus and Telstra mobile phones, and I

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<v Speaker 2>just put that such a sign of the times, isn't it.

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<v Speaker 2>You could be stuck with you Uber eats or a

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<v Speaker 2>door dash. I'm not sure they're going to get milk

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<v Speaker 2>delivered on your doorsteps. I think I think you'd have

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<v Speaker 2>a lot of probably fishing to do, and you know,

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<v Speaker 2>a lot of seafood to live off pretty happily there.

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<v Speaker 2>I don't think you'd be I don't think you'd be

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<v Speaker 2>many complaints coming from you on a place like that.

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<v Speaker 1>I think you're right. I think you're right. How wonderful

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<v Speaker 1>is that? All right, we'll take a break back with

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<v Speaker 1>more from Alice and Justic sec and we are joined

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<v Speaker 1>by Alice Stoles from Domain, the National Property Editor. Alice,

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<v Speaker 1>the rise of pre fab homes. This is interesting, isn't it?

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<v Speaker 1>Could prefab homes be a large solution to our large

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<v Speaker 1>housing crisis? What do you think?

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<v Speaker 2>Look, look, I'm a real fan of this notion of

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<v Speaker 2>prefab homes, and it's because basically they can deliver houses

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<v Speaker 2>much faster than the traditional methods of construction, which we

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<v Speaker 2>know we've experienced over the past few years, in particular

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<v Speaker 2>incredible challenges around that. It also means that there's no

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<v Speaker 2>delays attributed to weather because basically all the hard worker

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<v Speaker 2>building the home is un in a factory than that

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<v Speaker 2>house sort of slubs of it are put on trucks

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<v Speaker 2>and trucks around the country. Now, the benefit is homeowners

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<v Speaker 2>can also have bespoke called truly sort of custom designed

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<v Speaker 2>houses and have kind of quite clever and ingenious design

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<v Speaker 2>and have that individuality to a house that often people

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<v Speaker 2>obviously enjoy, particularly in Australia, and do all that in

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<v Speaker 2>record time. Now it also usually can come in at

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<v Speaker 2>a cheaper cost because materials are used so much more effectively,

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<v Speaker 2>there's no wastage, and there's also no delays to weather,

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<v Speaker 2>but just in terms of how quickly they arrive. I

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<v Speaker 2>was reading an article and I always laugh at this,

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<v Speaker 2>and I've seen it happen myself. But literally you'll see

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<v Speaker 2>a neighbor will go off to work as a blank

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<v Speaker 2>piece of land. They come back and there's a house

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<v Speaker 2>on it. Now, all the groundwork has been done for

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<v Speaker 2>months prior. I'm not saying it's click your fingers and

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<v Speaker 2>it's delivered. That evening. But that's how quickly it's construction

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<v Speaker 2>constructed on site, because everything is done off site and

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<v Speaker 2>then it's literally just trucked in and ascend and it's

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<v Speaker 2>basically almost ready to go at that point.

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<v Speaker 1>Yeah, it's amazing. Now. Properties of interest which I haven't

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<v Speaker 1>had time for, I'm sorry, one at North Bridge and

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<v Speaker 1>one at Cadanga Creek in Queensland. In Queensland, it's an

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<v Speaker 1>eight better if you don't mind, will put links to

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<v Speaker 1>the on the podcast. To those listings. There's three living spaces,

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<v Speaker 1>eight bedrooms, the one in Queensland. Properties of Interest. Thanks Alice,

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<v Speaker 1>I'll talk to you next week. That's Alice Stoles from

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<v Speaker 1>domain