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chrysaliseuro2019 · 5 years ago

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Monopoli 1

We got to Monopoli around 3.30 with various stops and the fun commenced of looking for somewhere to stay. We had a couple of booking.com leads but wanted to check them out first. It’s always difficult when you get varying reports or in fact consistent ones but they say the same good things eg host very helpful and friendly but say nothing too much about the room eg might say clean and tidy but leave out “small”. You tend to look for what they may not have said rather than what they have said. Photographs of rooms a bit like photos of houses for sale always look a bit more glamorous and larger than they are in real life. So we approach this with a healthy level of dubiousness.

We had one lead in particular and after driving around the back streets for 20 mins or so trying to get close to it, with no luck, we parked up in what seemed like a residential area but 50 metres or so from the start of the old town. I stayed with the car as no parking signs and no markings on the street which could be a good or bad thing. Monopoli is one of those towns that has a residents only section by car and we were unsure if we were in it. Fines can be hefty if you transgress.

Liz headed off using google maps to locate the B&B. They were not responding to the phone. While she was gone I kept looking at booking.com and located another good possibility not far away from place 1. Liz called feeling very frustrated. Even on foot it was difficult to find. She was though very euphoric about the town saying how pretty it was. Luckily place No2 responded via phone and I arranged for the host to meet Liz at the property. Probably 45 mins has gone by by now. I am now in regular phone exchange with the guy (alessandro). They met up, Liz liked the property and 15 mins later they both rolled up at the car on foot. All in all probably an hour and half has gone by but we are in.

Property is in the old town. A small one with three units in it. We trundled the cases around there probably a good 10-12 minute walk with Alessandro’s help. Temperature was early 30s but felt like late 30s and we were glad to arrive. Really quite modern and spacious room. A bit more than we would like to pay but Alessandro told us where to free park so that saved some dosh. Also smack bang in the action perhaps about 200 metres from the main piazza though we face out to sea so quite quiet. From our window we can see the local fishing boats in the little harbour. Very pretty and tranquil.

We immediately took to Monopoli and decided to stay another day so booked for two. He did ask if we would like to book for 3 but we weren’t sure as time in Italy slipping away. It didn’t take too long though for us to feel convinced and later that evening we decided to make it a third night. Alessandro gave us a variety of eating recommendations for seafood, meat, varied cuisine and pizza. The ones we went to turned out well.

After showering we headed into town to explore. Didn’t get too far as we found a nice little outdoor bar looking out to sea just around the corner and planted ourselves. In one of those bizarre coincidences the couple sitting just behind us in the bar with a son aged around 11 were Aussies. Very interesting lifestyle, they live in Warsaw and he is a chef and previously had worked as a chef at M on the Bund restaurant in Shanghai owned by Melbournite Michelle Garnaut. They have been out of Australia for quite a while in fact their son was born in Shanghai. She is a marketing executive at the international school in Warsaw and previously was the same in Shanghai. Just when you think most Aussies live the same sort of lifestyle as you. We had a pleasant chat about Poland, China, Australia and holidays amongst other things. He also recommended a restaurant which they had been to where they had enjoyed the seafood. We decided we had to go there he was a chef after all.

We wandered around town for a while and booked the chef’ s recommendation for Wednesday night (it was closed on Tuesday) and also Alessandro’s seafood restaurant recommendation (Il Guazetto) for the following night. Funnily enough the Aussies were eating there as we booked. It looked like we were stalking them.

Just had to sort out tonight. We looked at a few places and were thinking Pizza. After drawing a blank at one of Alessandro’s recommendations, as we did not want to sit inside on a hot night and all outside tables taken, we went to another - Ai Portici. Pretty solid without being gourmet. Also thought that we are pretty spoiled for good pizza in Melbourne especially around Carlton/Fitzroy way.

A really pleasant evening and we had a stroll around soaking up the atmosphere. It’s one of those pinch yourself locations. Nowhere near as frenetic as some of the places we have been though plenty of people floating about. We were also to come to think that this must be one of the most difficult places to navigate on foot. Only locals can drive in the old city but it is a veritable maze of narrow streets. They often lead into cul de sac little squares where the locals might be sitting out on the steps or chairs nattering to each other. You get the impression that they would prefer we didn’t intrude. They never really offer a greeting first or ask you if you are lost ( I guess that’s obvious). They just look at you as you beat a retreat and carry on with their natter. Don’t blame them really. One thing we came to think was that this place would change over the coming years and we were glad we were here now.

Next day was a very relaxed start. Our accommodation is a large one bedroom apartment though with kitchen facilities and eating area downstairs shared with the other two apartments (kitchen - what’s that? - we didn’t trouble the facilities). Breakfast is included in the tariff. That is available at the restaurant right outside our front door which is in a small piazza. We really liked the guys who ran it. They had helped Liz located the premises on Day 1 and were good fun to chat to and very pleasant. One of them had lived in Sydney for 11 years but was now back home to run the restaurant with his brothers. He had retained his permanent residency though and wasn’t ruling out returning. He confirmed our suspicions that the town was undergoing rapid change with more and more people seeking to rent out their homes which obviously diminished progressively the number of residents. Get here quick was the message.

Breakfast was a relatively humble affair. One cup of tea, freshly squeezed orange juice and one croissant or toast with jam. None of the larger spreads which B&Bs and hotels offer even though we were paying a reasonably high price by our standards. Still I found the croissant which was crammed with jam v filling and Liz in the end resorted to the Vegemite on toast which we had packed much to the amusement of the Aussie guy. The Vegemite fascinate the other waiters at the restaurant and Liz persuaded two of them to try it. One kept a straight face and the other almost managed to, the grimace was mostly suppressed. He said he preferred Nutella.

Liz had one goal - to get to the beach. I also had one. We had spotted a barbers shop in town and I headed for the long awaited haircut. The barber was typical no doubt of a myriad of Italian barbers shops around the world. I was the only one in there. He spoke virtually no English but we conversed in the language of the barbers shop. Essentially though the message was make it short. He clipped and snipped away at great pace using the scissors and comb. Just when I thought that looks pretty right perhaps just a bit more off that one section there (which I pointed to) he got a new lease of life and out came the electric clippers and basically he gave me a number 2. Looking at all my futures in the space of 60 seconds. I liked it though though not sure what the missus will think (she liked it too or said she did). Certainly it’s tidy but there seems to be a lot of head.

That was really the first stanza over. He stuck the electric clippers in both ears to move that irritating hair growth. Sounded like a combine harvester in each ear and not just because of the crop growing there. Finished that off with the scissors. Got out a little electric contraption which he stuck up each nostril to remove the hair from there. Yuk I know! Then immediately used the same contraption to trim my eyebrows. This was good but I sat there wondering whether there had been any transference of matter from nostril to eyebrow and people would look at me with a what the heck’s that hanging down off your eyebrow. I hear it’s fashionable.

This was all done at frenetic pace. Next was the cutthroat razor which he applied to trim up bits of hair here and there and shave the neck. Absolutely fantastic. 10 euros about $17/18. I want to take him to Melbourne. Perhaps I can persuade Liz to work on nostril and ear hair.

Liz meanwhile had gone beach exploring and plumped for the town beach. This was a little cove with a very small amount of coarse sand but Liz had managed to find a handy nook up against the craggy retaining wall which provide us with shade. With our foam beach mats we could also sit upright leaning against it so we were very comfy. No umbrellas other than a few private ones that people had stuck in the sand here. Not that that matters too much to the locals. They bask in the sun in a way that Aussies are nervous about these days. No wonder so many are very brown.

I joined her post haircut and we whiled away the day not doing too much other than reading, blogging, sleeping, a bit of swimming etc. It was also fun to watch the locals go about their beach business. I had a bit of a reconnoitre in mid afternoon and duly got lost again wandering around the city but that was half the fun.

After a long afternoon on the beach we headed home for showers etc around 6.30 and post that for dinner. This was to Alessandro’s fish restaurant recommendation. Guazetto It was superb. I had baked sea bream in a crust of potato and zucchini which the waiter suggested as a local delicacy. It was sumptuous as Rick Stein would say. Liz had langoustine which was equally good but a bit on the low side volume wise. She got 6 fairly small ones though laid out very decoratively with their large shells. The paucity was exaggerated when she kindly offered me a bite and I thought she was offering me the whole item. This was not received well and I spent the rest of dinner trying to make up with bits of sea bream. As I write this blog Liz has had a whinge again so it resonated. Must say it did taste nice though.

Liz had not been able to get a drink she could handle at the restaurant so this was a good excuse to head to the city square and have a couple of drinks as the throng paraded past. Lovely temperature. Very relaxed atmosphere. What could be better. Washed down with a couple of gelatis as well. It had been a good day.

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indochinanews · 3 years ago

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Australian and World housing market 'eerily quiet' as coronavirus destroy Real Estate market

Homebuyers shun the Australian market as coronavirus, Economic tensions take a toll, of which Chinese Homebuyers are less than one percent.

For years, mainland Chinese residents were the top foreign purchasers of expensive housing units in Australia to launder money and Purchase Citizenship.

While mainland buyers have retreated from the Australian market, many are expected to return if conditions eventually improve in China

When mainland Chinese resident Susan bought an off-plan flat in Melbourne's new high-end West Side Place development in 2017, the Nanjing-based property investor planned to rent it out upon its completion next year.

She shared the healthy Chinese appetite for the property – mainly flats in Australia – that sent the sector in Sydney and Melbourne soaring during a five-year boom between 2013 and 2017 when home prices rose as much as 70 percent.

But despite her desire to own more flats, Susan, who declined to give her full name, said that the West Side Place unit would be her last property purchase in Australia for a while, as the Chinese Communist party crackdown on Money Leaving China. And she is not alone in her reluctance to invest in the property market outside China.

The number of Chinese residents investing in Australian housing has fallen steadily since the government took action against the Chinese Communist Spys. In 2015, Victoria's state was the first to introduce a surcharge on foreign purchases, and other states followed suit with fees as high as 8 percent. Individual countries also levied a land-tax tax of up to 2 percent for foreign buyers.

The taxes can really add up on pricey flats. For example, it is not unusual for an 80-square-meter (861 sq ft) two-bedroom unit in a top location in Sydney to sell for A$1 million (US$713,000) or more.

The pandemic-induced economic recession, a sharp decline in tourists and students to rent flats, and souring relations between Beijing and Canberra have made it more difficult for Chinese investors to be much more pessimistic about buying housing units in Australia.

During the boom, the opposite was true – individual investors motivated by rising capital returns and getting money out of China were known to own up to 10 units or entire floors of apartment complexes. Some even purchased flats sight-unseen at local property exhibitions held in mainland cities.

"It's all about the bottom line. I purchased my unit then to realize a good return. So, if the rent is not good, which is the case at the moment, there is no reason to buy," Susan said. "There are very few [Chinese] people being allowed to go to Australia now, including students. So, tenants are scarce."

Jack, a native of Shandong province who owns a unit in the affluent inner-city Chatswood neighborhood of Sydney, said that while foreign surcharges were once the biggest hurdle to buying a property in Australia, increasing political tensions and restrictions imposed within China have made him unwilling to part with more of his money.

Like Susan, Jack, who also declined to give his full name, said he would consider returning to the Australian market someday if overall conditions improve.

The political spat between the two countries over the last six months is only one of many reasons that have sent Chinese buyers packing, with tensions having both a direct and indirect impact on their willingness to buy, Susan said.

Students not returning to Australia to study due to changes in courses, pandemic disruptions, and fears of being racially targeted have left many landlords at a loss.

Flat purchases by mainlanders tend to be in student and migrant areas where demand is higher, so their absence has resulted in rents falling.

Recent surveys also revealed that Chinese students' swathes had been told not to commence study in Australia and Worldwide due to the unappealing nature of studying online and discrimination concerns amid the two countries' deteriorating relations.

With fewer children studying in Australia and Overseas, mainland parents are not buying as many flats. And lack of Immigration opportunities as countries close their doors is Impacting the Property Market

The declining number of Chinese immigrating down under and worldwide has also watered down the buying and renting pools.

Steven Chen, project director for Australian real estate firm The Agency, said the east coast Australian property market has become eerily quiet once dominated by a sea of Chinese buyers. And the overall demand for new units in Sydney and Melbourne, in line with the broader economic slowdown across the country, has been stagnant, with only a handful of new projects launched in the past year.

"Where once we had a large pool of international buyers, they have now dissipated," Chen said.

Some would-be mainland buyers are also avoiding local property exhibitions – a popular sales tactic used by many Chinese Australian developers and sales agencies – for fear of angering the Chinese government.

"My customers tell me there's a lot of local press that Australia doesn't care about China after it did so much for [Australia] during the financial crisis ten years ago," he said. "When things go wrong, they have sided with the US.

"They like Australia a lot, but they know the Chinese government is disappointed that there's been no loyalty from Australia, even though China has been a fantastic trading partner."

But their desire to move their money out of China is strong. With fewer opportunities and obstacles increasing for the Chinese, Chen said they could flood the Australian property market again.

"My customers fear the Chinese government. They are concerned if they don't get their money out, the Chinese government [has the power] to take it away whenever," he added.

Other agents lamented that what was once a win-win situation for Chinese buyers and Australian property sellers and developers has quickly been frittered away by political squabbling.

Earlier this year, conservative Australian MP George Christensen, who is also chairing an inquiry into trade diversification, called for China to reparate the coronavirus outbreak by giving back the Australian land and property that Chinese people had purchased.

It caused a stir in the Chinese buyer community, according to Esther Yong, director of the Australian-Chinese property website ACproperty.com.au.

"Imagine you've bought the property in Australia, and the government decides to take it all back, just like what would happen in China.

People start adding that to the existing taxes, and then they start worrying if more penalties or punitive measures will be imposed," she said. "And it's not like it has never happened before. We saw how those surcharges increased rapidly over the years without so much as a warning.

"I think, overall, the sentiment about Australia in China is quite bad. In China, whenever there is news about Australia, it's always negative, warning their people not to buy [property] or further their education in Australia."

Another obstacle to Chinese purchases is the difficulty in transferring funds out of China. Chinese nationals are forbidden from buying property overseas, and Chen said that controls over creative transfer methods had been tightened. His clients are worried about jail sentences if they are caught.

Sydney lawyer Chris Sun, who usually deals with Chinese buyers, said foreign inquiries have basically stopped.

"This year, the number of overseas buyers has declined significantly all over the world, but I think there are many factors: the pandemic, border closures, the recession, the property market downturn, purchase surcharges, negative news about building quality, migration difficulties, finances – with political friction only one of these reasons," she said.

However, she expects Chinese buyers to return once the market starts to rebound and profits return "because they love and believe in property."

And that is especially so for Australian and International property, Susan said. Where there is the rule of law

As it is with many buyers, her approach is pragmatic, and she can put politics aside if the investment is worthwhile, especially down under.

"I may buy again in a few years when the market recovers because I, along with many Chinese people, have many connections in Australia, and we like the freedom and lifestyle," she said.

Modified from source: South China Morning Post

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radiosat24web · 4 years ago

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Cities were then categorized across three broad categories: costs and infrastructure, legislation and liberties, and livability. In terms of costs and infrastructure, for example, this included an analysis of the price and the provision of adequate home office space. The report also showed that in the case of Melbourne, the average apartment rent per bedroom was 681 euros ($807) per month. While San Francisco in the United States recorded the highest cost of renting a home office room at 1,736 euros per month, while it was found that the average rent in Rio de Janeiro, Brazil was 119 euros per month. In addition, Nestpick also noted the percentage of each city's residents who were fully vaccinated against COVID-19 as an indicator of governments' response to the ongoing health crisis. For his part, CEO of Nestpick, Omer Kukukdir, said that the Corona pandemic has prompted many people to reassess their personal priorities, revealed the benefits of the flexibility of working remotely, and raised the question: Is it really possible to work from anywhere? Kukukdere also noted that the pandemic has caused high-income earners to leave "business-focused cities to live in places that offer better everyday lifestyles, taking their purchasing power with them." Here is a summary of the top 10 cities that allow you to work from anywhere: 1- Melbourne, Australia 2- Dubai, United Arab Emirates 3- Sydney, Australia 4- Tallinn, Estonia 5- London, United Kingdom. 6- Tokyo, Japan 7- Singapore 8- Glasgow, United Kingdom 9- Montreal, Canada 10- Berlin, Germany #radiosat24web https://www.instagram.com/p/CQ_JZduNFzg/?utm_medium=tumblr

#radiosat24web

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isneed-blog · 5 years ago

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Investing in Property - What Is the Best Way to Buy Rental Property?

Trying out Property What is the best way to buy rental property? The question you need to ask yourself is - Am I investing in this property as an investment? Now this sounds like a pretty stupid question, right? But in reality, many people (myself included) have made a purchase decision on the basis that they love the "property" not the "investment. " What do I mean? Well you have to stop and ask yourself do I really love investing in property or must just love to own property. Many have purchased an "investment property" on the basis that they "liked" the idea, rather than because they had calculated it would provide a great return. When investing in property you should always run your phone numbers through a property investment calculator before deciding whether to even look at a property, let alone buy it! My own first CBD apartment - aka "Investing in Property for Fools! " I'd always wanted to own personal a piece of the CBD. Growing up as a kid I loved visiting the "city" to look at the skyscrapers and imagined coming here for work like my Dad did each morning. Sure, I was investing in property or home. I was investing my emotional security in a property location! So you can see quite clearly that it had been an emotional, rather than a hard headed decision to buy a newly complete one bedroom unit back in earlier 2000s. It was just something I'd always wanted to "have. " I remember driving around the inner city which includes a well known property spruiker looking at projects he was involved with. Of course his level of involvement was as a get good at salesman. A unit became available for approximately $230k. As a young couple my wife and I discussed the pros and disadvantages and I decided against the advice of my wife that this might not be such a great idea. At the same time another unit possessed become available in the inner city block of apartments that I was currently living in. It was available at the same price. My wife counselled me to consider this as an option. My "adviser" had discouraged me on the rationale that I would be putting all me eggs in one basket. There was some truth to this advice so I implemented my "dream" of an apartment in the "city". When I went to the office to sign the papers I remember increasingly being advised that the original unit was no longer available, but a different one on a higher floor was, at a better price! I said OK, No problem, like we Aussies tend to do. Then I was presented with the option to obtain a "furniture package" for an extra $20k. This would "guarantee" a rental return of 8% to me for the primary 2 years of my investment. I hadn't previously considered this, but of course I said "Yes"and ended up being told what a wise choice I had made. (Of course this made me feel good about average joe! ) The truth was I bought the unit not on the basis of its potential financial return but its immediate psychological and mental return. I never did end up living in it or even spending a single night there, although I'd quite often wander past and gaze up at my balcony and wonder how "cool" it would be to live here. In truth the property was a complete drain on my bank balance due to the high costs associated with the common areas which include pool and gym equipment. The rent never paid for the outgoings and I lived in hope that price would go up so I could make a "paper" profit at least! Now some time later I did end up trading the unit for around $300k, so it was far from a complete disaster. In the end I was very glad to sell and additionally call it even. In reality the cost to me was an opportunity cost. What else could I have been doing using my money? I looked recently for sales data on the city block in question and found the identical unit sold for $355k, approx. 10 years after my initial purchase. Currently in the inner city stop I was living at, prices are over $650k. Remember that 10 years ago these properties were merchandising for approximately the same price. If I had listened more to my wife and less to my own emotion I'd personally have ended up $300k better off! What did I learn? I learned that whilst it's great to hear "advice", be aware that sometimes advice might be just a little biased! I've learned to trust my own instincts more in addition to weigh advice against what I already know to be true and reasonable. The reason I liked the house in my own block was that it was located well. It was quiet, had views, was close to town, walk to tram, bus and train and there was no high-rise in the vicinity. The area couldn't get quickly re-developed and units added. In short, the amenity was desirable and there was not going to come to be any new properties added in the foreseeable future. This meant there was a cap on supply. In the city recommendations not a cap on supply. There are numerous developments under construction at any given time. I'd be more than happy to live in several. But I wouldn't buy then as an investment! Unless they were in a landmark building of some sort there is absolutely no scarcity value in them. They can be replaced easily. If one of your neighbours wants to sell and needs to switch quickly, guess what. They set the price for your unit. You have virtually no control over the market. No matter what you do for a own living space the whole value of the block will be determined by factors outside your control. Investing in Property with regard to cashflow or for growth? Let's be honest. Most of us are investing in property because we think that prices are very apt to go up! On the other hand we all know about "negative gearing". In essence it means we can write of our "losses" on our expense against other area of income. I don't disagree with the concept, we ought to be able to weigh our sales against our losses and pay tax on the net result. BUT, if all we own are "investments" that are make a "loss" and we're offsetting that against a "gain" from our job, that's not truly smart investing is it? Sometimes a property might be increasing in value at a greater rate than we could be ready to make as a cash income from our investment. This is not always the case as you can see from my encounter in the Melbourne CBD. But at what point does this cease to be a valid reason for deciding to pay of even "keep" and existing investment? Steve McKnight from Verticus condo at Balestier once said something really illuminating at an event I attended. Basically he said we ought to do an audit of our house portfolio every year and re-assess whether we ought to hold or sell each property! Seriously. I do not ever thought I was going to sell anything - Ever! Early on in my property journey I'd decided I would "Accumulate" property. Buy and never sell! That was my motto. Once I'd paid down the loan I might be sitting on a nest egg and having rent more than cover my outgoings. But consider this! Real life example - My unit in inner Melbourne right now would be worth about $650k and yet it might get a weekly rental of around $480. That's about $25k rental annually. The yield is accordingly 25k/650k annually or 3. 8% of the value. Setting aside things like mortgage repayments, there are still fixed costs on any sort of property - In my case they include for the last financial year: Council Rates $820 Water $945 Insurance coverage $302 Owners Corporation $1660 Agent fees $1815 Repairs $890 Total fixed expenses for the year $6430 This reduced the total income to ($25000-$6430)=$18570 Now my actual annual return is 18. 5k/650k = 2 . 9% Of course costs like Agent fees and Owners Corporation are not always applicable but they help to show that in the real world the actual return can be a lot less than a simple headline figure. If I include my own interest costs (which still exist) I must deduct another ($150000*6%)=$9000 from my income. This reduced the complete Real income to ($18570-9000)=$9570 Now my actual annual return on the asset value is 9. 5k/650k =1. 5% Should I Sell this property? There is no right or wrong answer. Sometimes I say without a doubt and my wife says NO! Sometimes I say No and my wife says NO! Do you see a trend here? There is no right answer because everyone has different needs, has different skills and is coming from a several base and most importantly - We all want different things! It depends on your circumstances, your family situation, the personalities with you or your partner and your goals in life. If our main goal in life was to increase some of our cash on cash return or all our assets then it would be a no brainer to sell up and shell out elsewhere (assuming I could expect a greater return than 1 . 5%! ) Having said all that I nevertheless love property, and I love investing in property. It's quite possible to love the idea of property without tender investing in property. In fact most property that you'll "love" will probably be pretty darn useless as an investment. Don't be lost. Would I choose to invest $650k of my actual cash in this investment right now of it were available for sale? That's doubtful! - So why am I still keeping it? I love it and plan to live in it. This is a issue only YOU need to ask yourself and answer on a case by case basis. I've looked long and challenging at my own situation and decided to keep for now based on family reasons, NOT investing reasons. Review just about every property every year For every investment I currently hold I review the property and make a decision based on the real figures, not a fantasy of what I'd like to see happen. That's why I decided to sell my apartment in the Melbourne CBD. It was "Costing" my money to hold, and NOT growing in value anything like I'd hoped may well. So I cut it off. It was why I needed to sell my first home out in the "burbs". It was why I made a similar hard decision to sell a property in inner city KEW that was revisiting a reasonable cash return, and well located but had ZERO capital growth over ten years. It was among the list of reasons I sold a great apartment in Sydney's North. I had improved it and added value. It was eventually time to take my money off the table. Your relationship with a property needn't be a marriage for life. There's certainly no compulsion to "stay together" till death do you part!.

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iksathrob · 4 years ago

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Steve Loeffler with wife Lucy Loeffler, and their daughter Olivia Loeffler, are selling their North Bondi Home. Picture: John Appleyard Homes in Australia’s hottest suburbs have boomed in value by as much as 680 per cent over the last two decades – underlying the belief in the Great Australian dream of property ownership. Property data compiled by realestate.com.au illustrates the tremendous capital growth savvy, and in some instances lucky, home buyers have enjoyed in the years between the Sydney Olympics and the COVID-19 pandemic in metropolitan areas. The spread of the suburbs and even regions that have enjoyed such unprecedented capital growth cover a variety of terrain, from exclusive enclaves to the gentrified inner city, through the metropolitan ring suburbs and to the bucolic surrounds beyond. Prices have boomed in Harrington Park. MORE NEWS Rents hit by record fall Chance to own rare Sydney home from The Block In lists compiled of the biggest growth suburbs of the last 20 years in Adelaide, Brisbane, Sydney and Melbourne those who owned or bought property at the turn of the millennium and have kept it, have cashed in big time. From Harrington Park in Sydney’s south-west whose median house price has skyrocketed from $148,000 to $960,000 over the last 20 years for an incredible capital growth of 549 per cent, to Kilburn in Adelaide’s inner north where home values have leapt 683 per cent from $55,000 to $434,400. Then there’s Windsor in Brisbane’s inner north which had grown 492 per cent from it’s median value of $183,000 in 2000. And in Melbourne, Tyabb on the Mornington Peninsula has led the way with average house prices growing 682 per cent from $121,5000 to $950,000. Steve Loeffler with wife Lucy Loeffler and their daughter Olivia Loeffler. They are selling their North Bondi Home. Picture: John Appleyard Kilburn and Windor have illustrated the growing demand for inner city living in that time, while Harrington Park and Tyabb are evidence of growth of Australia’s two biggest cities into areas that were formerly rural. Realestate.com.au chief economist Nerida Conisbee said suburbs that had undergone urban renewal or become substantially more desirable because of a shift in buyer preferences had recorded strong price growth. “Twenty years ago, it wasn’t as popular to live so close to the beach,” Ms Conisbee said. “People also wanted bigger homes on big blocks and wanted to live further out, but there’s been a real shift towards wanting to live close to amenities and to be within walking distance of everything.” Ms Conisbee said the gentrification of certain suburbs had also created a ripple effect, which pushed up prices in neighbouring suburbs. “A lot of old people have moved out of these suburbs in the past 20 years and a lot of younger people have moved in,” she said. Inner city Elsternwick in Melbourne has enjoyed very strong growth. Picture: Andrew Henshaw MORE NEWS Unique trend driving Hong Kong buyers How COVID-19 is changing what we want in our homes “Because young people tend to renovate and demand better services, that gives a lot of areas renewed energy, which tends to lead to some big changes in prices.” At the other end of the list of the best performing 100 suburbs, but by no means the poor cousin sits inner city Elsternwick in Melbourne, where average house prices have moved from $397,000 in 2000 to today’s median of $1,927,500, an increase of 386 per cent. In Prestons, very much in the geographic heart of Sydney, prices have moved up by 281 per cent from $193,000 to $735,500. In Brisbane, the former freehold settlement of Logan Village sits at the bottom of the top 100 suburbs, having grown 289 per cent from a median of $158,000 to $615,000. And in Adelaide’s centre Old Reynella, named after an early South Australian winemaker has jumped 251 per cent from a media of $114,000 to $400,000. // // Top 10 growth suburbs over the last 20 years (median house prices) Adelaide 1. Kilburn: $55,500 to $434,400 (683%) 2. Greenacres $85,400 to $462,500 (442%) 3, Northfield $85,000 to $447,000 (426%) 4. Blair Athol $97,500 to $500,000 (413%) 5. Windsor Gardens $96,000 to $477,500 (397%) 6. Clearview $90,000 to $447,500 (397%) 7. Henley Beach $201,000 to $940,000 (368%) 8. Willunga $125,000 to $582,500 (366%) 9. Rosewater $84,000 to $389,000 (363%) 10. Christies Beach $80,000 to $365,500 (357%) Brisbane 1. Windsor $183,000 to $1,082,500 (492%) 2. Bulimba $240,000 to $1,395,000 (481%) 3. Coorparoo $185,000 to $1,050,000 (468%) 4. Grange $206,000 to $1,160,000 (463%) 5. Sandgate $140,000 to $782,500 (459%) 6. Salisbury $115,000 to $625,000 (443%) 7. New Farm $295,000 to $1,600,000 (442%) 8. Rocklea $76,500to $408,000 (433%) 9. Hawthorne $265,000 to $1,410,000 (432%) 10 Deagon $91,000 $480,000 (427%) See Queensland’s top 100 growth suburbs If you bought in Brisbane’s Bulimba 20 years ago you would be pretty happy. Sydney 1. Harrington Park $148,000 to $960,000 (549%) 2. Currans Hill $96,000 to $605,000 (530%) 3. Hamlyn Terrace $101,500 to $618,000 (509%) 4. Rouse Hill $164,000 to $938,000 (472%) 5. Beaumont Hills $207,000 to $1,158,000 (459%) 6. West Hoxton $159,250 to $835,000 (424%) 7. Canley Vale $168,000 to $830,500 (394%) 8. Lisarow $150,000 to $725,000 (383%) 9. Erina $180,000 to $857,500 (376%) 10. North Bondi $600,000 to $2,850,000 (375%) See NSW’s top 100 growth suburbs Melbourne 1. Tyabb $121,500 to $950,000 (682%) 2. Somers $144,000 to $970,051 (574%) 3. Clayton $182,000 to $1,200,500 (560%) 4. Springvale $125,000 to $762,000 (510%) 5. Malvern $465,000 to $2,800,000 (502%) 6. Box Hill $270,000 to $1,623,500 (501%) 7. Mont Albert North $263,000 to $1,540,500 (486%) 8. Crib Point $90,000 to $525,000 (483%) 9. Rye $121,000 to $702,500 (481%) 10 Tootgarook $104,000 to $600,000 (477%) See Victoria’s top 100 growth suburbs Homes in NSW”s top suburbs 37 Governor Drive, Harrington Park, NSW 2567 $1,179,000 43 sq m custom built home family home with 4 bedrooms, all with walk in wardrobes and ensuites, contemporary kitchen, state-of-the-art outdoor entertaining area and 2 car spaces aside a nature reserve. 602/8 Roland Street, Rouse Hill, NSW 2155 $895,000 Two level, 3 bedroom apartment in modern security complex with a swimming pool and tennis court. Spacious northeast facing indoor/outdoor open plan living on 144 sq m with floating timber floors and floor to ceiling glass windows with area views. 8/127 Hastings Parade, North Bondi, NSW 2026 $1.8 million Two-level, 3 bed, 2 bath, Art Deco beachside unit offering the idyllic Bondi beachside lifestyle on sought-after Ben Buckler point. Water views and only steps to the sand. 33 Lansdowne Street, Surry Hills, NSW 2010 $1. 9 million 3 bedroom, 2 bathroom terrace house on 120 sq m. Offers ideal inner-city lifestyle with northeast facing backyard entertaining area. Quiet location just minutes to some of Sydney’s best dining and easy walk to the CBD. * This data is provided by licence from realestate.com.au Pty Ltd and is current at the time of publication. realestate.com.au Pty Ltd does not make any warranty as to the accuracy, completeness or reliability of the data nor accept any liability arising in any way from omissions or errors. The post Australia’s hottest growth suburbs revealed appeared first on realestate.com.au. from news – realestate.com.au https://ift.tt/2Pf7RKk

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brisk-interstate-removalists-mel · 7 years ago

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More Than 1000 Units To Hit Gold Coast Property Market As Southern Investors Move In

A THOUSAND new apartments will go on sale in the next two months to meet the demand of “Mexicans” from southern states looking to relocate to the Gold Coast.

Some of the city’s key developers are about to unveil $1 billion worth of units to help ease pressure from retirees and first-home buyers shifting north from NSW

Developers and real estate agents say they are receiving hundreds of inquiries every month from outside the region for units, predominantly in the $330,000-500,000 price bracket.

Hundreds of units have been snapped up at other Gold Coast projects yet to be built.

Projects freshly on the market or going on sale in the first quarter of the year include:

• The $250 million Chevron One from Melbourne developer Bensons Property Group.

• The $200 million Markwell Residences from Citimark.

• The $90 million Naia at Mermaid Beach from Eastview

• The $80 million Elysian tower at Broadbeach by Spyre Group.

• The third stage of the Cambridge Residences at Robina.

• The $200 million Signature Broadbeach from Little Projects

• Sunland’s $200 million, 44-storey Hedges Ave tower is expected to be approved early in the new year and is go to market almost immediately.

Collectively, these projects will add another 1000 units to the Coast’s market, primarily concentrated around the central regions of Broadbeach, Surfers Paradise and Robina.

“There is a movement in the market on the Gold Coast and we are following the rest of the world in creating inner-city living because people like being around the restaurants, want access to the beaches and the light rail now makes it easy to live without a car,” said Ray White Surfers Paradise chief executive Andrew Bell, whose company posted record figures during 2017, including $143 million in sales in November.

WHY THESE TOWERS GOT APPROVED

Andrew Bell. “Our market is at its healthiest levels since 2007 and the resurgence of people looking for the lifestyle and living on the Coast also comes from the prices in Sydney and Melbourne growing so exorbitantly.

“My read of the market is that it is timely to get this new stock in and we are seeing unprecedented demand for it. There is a solid migration of people coming here.”

Real estate figures said the influx of apartments was welcome as the Gold Coast currently had its lowest supply of units since 2014. It was in contrast to the “overheated” markets in Sydney, Brisbane and Melbourne.

The Coast’s rental vacancy rate is currently 1.9 per cent, below Brisbane (3.6 per cent) and Sydney (2.1 per cent).

However, most of the new units coming on sale are expected to be used by owner-occupiers.

According to figures released in October, Gold Coast house prices are expected to rise by six per cent to a record $665,000 within two years.

The figures, compiled by insurance provider QBE, tipped unit prices to increase five per cent to $425,000 in the same period.

Long-time real estate agent Brent Martens, of Harcourts Coastal, said the Gold Coast was experiencing unprecedented demand for both rental and residential properties.

“We are now seeing upward of 15-20 groups turning up for inspections and will offer to pay either six months’ worth, or a whole year of rent to secure their place,” he said.

“It is much closer to what you might see in Sydney and Melbourne. It was virtually unheard of 18 months ago, but now we are seeing it regularly.”

The Gold Coast market and sales figures are also expected to get a significant boost from the thousands of visitors at April’s Commonwealth Games.

Mayor Tom Tate this week revealed around $13 billion in investment, including residential, hotel, rail and transport infrastructure was expected to be rolled out across the city in the coming two years.

Real Estate Institute of Queensland’s John Newlands said the Gold Coast market had matured significantly in the near-decade since the global financial crisis.

“There has been a shift in the market and there has been a large increase in downsizers, which is also freeing up residential housing markets across the Coast,” he said.

“The marketplace has matured significantly and we are seeing more jobs created in the construction industry as well as in health and other workforces.

“With this stability we are seeing more units needed and more people moving in because we also do not have the oversupply of others.”

GOLD COAST DEVELOPMENTS

• CHEVRON ONE

A $250 million, 40-storey tower planned for Chevron Island’s Stanhill Drive by Melbourne developer Bensons Property Group. It will feature 210 apartments and retail areas and is expected to become Chevron Island’s first highrise.

• MARKWELL RESIDENCES

Developer Citimark’s $200 million, 46-story mixed-use tower. It will featured 210 units and is planned for a site on the corner of Markwell Ave and Surfers Paradise Boulevard.

• NAIA

A $90 million project from developer Eastview. Planned for Alexandra Ave, it will have 97 units reaching 24 levels.

• ELYSIAN TOWER

Proposed for a beachfront site at 185 Old Burleigh Road, the $80 million tower by developer Spyre Group will feature 21 levels and is expected to be completed in 2019.

• CAMBRIDGE RESIDENCES

Construction of the $162 million unit complex’s second stage, which includes a mix of one and three-bedroom units is scheduled to begin at Rod Laver Drive, Robina, next month. From developer Shino Development Group. The final selection of units from the 213-apartment stage will go to market shortly.

• SIGNATURE BROADBEACH

A $220 million tower proposed by Melbourne-based Little Projects. The tower is planned for a site on Philip Ave, Broadbeach, and will have 264 units. Construction is expected to begin later this year.

• HEDGES AVE

A $200 million, 44-storey residential tower put forward by Sunland. It is expected to be approved by the council early this year before going to market. It will have 99 apartments.

Source: Gold Coast Bulletin 3 January 2018

The post More Than 1000 Units To Hit Gold Coast Property Market As Southern Investors Move In appeared first on Real Estate in Australia.

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hollyandwilliams-blog · 4 years ago

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nancydpolardau · 7 years ago

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Tenants snap up South Morang mansion for $500 a week – NEWS.com.au

This huge six-bedroom family home at 13 Sorrel Court, South Morang was up for rent after it sold to an investor for $1 million.

RELATED: Luxury six-bedroom South Morang showpiece sells for $1 million to an investor

A tenant snapped it up for $500 a week and has been living in the lap of luxury for two months.

Harcourts Rata & Company director Josh Allison sold the property and said large and luxurious homes were sought-after in the area.

“There is demand for premium rental properties in this price range,” Mr Allison said.

The tri-level house on an 855sq m block in the Hillcroft Estate features panoramic views, three bathrooms and four living areas, including a theatre room and an office.

Harcourts Rata & Company property manager Brooke Barron said the property had been leased for the long term.

“The tenant plans to live there for more than 12 months,” she said.

Ms Barron said the property was a rare offering on the rental market for its quality and size.

“Most properties listed for lease are three to four-bedroom homes,” she added.

There were a limited number of five-bedroom homes available for rent that ranged from $450 to $720 a week, according to Ms Barron.

Most properties across Whittlesea suburbs generated a rental income of about $500, she said.

Ms Barron said there were other homes on the agency’s rental roll that were located closer to the CBD, including Reservoir, that brought in about $600 to more than $700 a week.

There was no shortage of rental properties available in the City of Whittlesea, according to Ms Barron.

Units, townhouses and three to four-bedroom family homes located near transport, shops and schools were in demand, she added.

“It could take from two days to three weeks for a property to be snapped up by a tenant at an average cost of $350 to $400 a week,” she said.

SUBURB PROFILE: SOUTH MORANG

Some property owners came from across Melbourne and as far as regional Victoria and interstate, Ms Barron said.

“But most of our landlords live locally and near their investment properties, so they can keep an eye on them,” she said.

CoreLogic figures show the median asking rent for houses in South Morang is $380 a week with a gross rental yield of 3.6 per cent. Units generate a gross rental yield of 4.7 per cent and attract a rental income of $325 a week.

from End of Lease Cleaning Melbourne|Bond back cleaning|Bond Cleaning |Vacate cleaning Melbourne https://highpowerclean.com.au/tenants-snap-up-south-morang-mansion-for-500-a-week-news-com-au/ from High Power Cleaning Melbourne https://highpowercleanau.tumblr.com/post/166023058076

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jerrymcguireau · 7 years ago

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Tenants snap up South Morang mansion for $500 a week NEWS.com.au