No Comments

Rose Bay and its upward trend

Rose Bay’s median house value has increased year on year whereas other surrounding suburbs have decreased year on year. Rose Bay’s median house value according to is $3.9 million currently and was at $3.8 million this time last year. Surrounding suburbs like Vaucluse median house value is $4.7 million currently and was $5.8 million this time last year and Bellevue Hill is currently at $5.25 million and was at $6.3 million last year.

It’s hard to pinpoint the exact reasoning behind Rose Bay’s increase in median housing value. It could have something to do with the fact that many homes are on smaller sized blocks compared to Rose Bay’s surrounding suburbs (and home buyers entering the market enter at the lower end). Vaucluse and Bellevue Hill has a considerable amount of large sized blocks which were sold for huge amounts in 2017, so if any of these purchasers were to sell this year they probably have not received an increase on value after the peak of the market in 2017.

2020 will be an interesting year for housing prices in Sydney. A bull run like 2011-2017 probably won’t be back for many years to come if at all.

No Comments

Kirribilli. What a suburb!

Kirribilli is home to the Prime Minister and the Governor-General. It is a picturesque peninsula and is populated with apartments, town houses and homes. According to the 2016 Census, 3,800 people call Kirribilli home with professionals making up 48% of the population compared to that of 23% nationally. Lawyers and bankers are the most prominent professions. The median weekly income is $1,424 compared to the national average of $662.

Homes felt a drop in median values in 2017 wheres apartments barely felt the downward pressure, indicating that the professionals who desire to live in this exclusive enclave are still striving to do so. Home sales have been slow moving to sell with an average of 149 days on market and rentals move relatively quickly with 23 days on market.

Kirribilli is a strong investment suburbs as there is demand from high paid professionals to live in the suburb. The lucky apartments that have one of the most spectacular views in Sydney of the Bridge and Opera House will always be worth a lot of money to someone. Especially overseas investors looking for that postcard view they had always seen on TV/the internet.

No Comments

The $30million Boat House

It’s quite amazing a parcel of land sells for $30million in 2017 with nothing but a timber boat shed on it. However, the true worth of this property lies within the very special land parcel. At a staggering 1,974 sum it has the potential to be subdivided and the value of 2 x waterfront homes could well exceed $60 million after completion.

Furthermore, there are literally no waterfronts that exist with a 4 boat berths in Sydney. The floating marina is one of the most unique things about the property. It’s not just the amount of boats you can berth, but the size. The berths can accommodate up to 80 feet boats.

Even with the flat Sydney market in 2019, a $30 million purchase of this lot in 2018 has the potential to be sold for a considerable amount more depending on the owners ability to unlock the land’s full potential.

Well known Sydney family, the O’Neils, purchased it for £9,000 in 1958; they held the property until its sale in 2017.

No Comments

Rona House and its illustrious history

This magnificent manor was built in 1883 in the victorian rustic gothic style for industrialist Edward Knox and was designed by architect Gustavus Morell.

Edward Knox’s father started the C.S.R Sugar company. Edward went to school at Knox and after graduating joined the family company. He expanded operations of C.S.R into Queensland, Fiji and New Zealand.

The architect of Rona House, Guastavus Morell, was born in France and is also well known for designing the castle in Darling Point, Swifts.

The Knox family and it’s future generations lived in the house for more than a century until 1989 when the Little family purchased it for $1.25 million in 1991 followed by the purchase from well-known Sydney businessman John Schaeffer for $9.6 million in 2005. The Agnew family purchased it recently in 2018 for $58 million.

Rona House has certainly seen Sydney and the families that have lived it in grow and will surely do so for years to come. It is a beautiful part of Sydney’s history.

No Comments

Great Australian Architect’s legacy

The Man Kyoto is a secret garden sanctuary in the middle of a forest in Kyoto Japan. One of Australia’s greatest architects, Kerry Hill, designed it and was one of his last projects before his passing away in 2018. Mr. Hill specialised in hotel design in tropical Asia.

The Man Kyoto is strikingly minimalist. The hotel has 26 guest rooms with floor-to-ceiling windows which frame the spectacular natural surroundings. It was designed to foster peace, relaxation and contemplation. All decorative artefacts, whether it be a vase or artwork, have been individually curated for each space.

The use of shades of black contrasted by light timbers creates spaces that are warm and cosy. This was a true masterpiece, which Kerry Hill left to the world, before he left.

No Comments

Sydney’s undervalued suburbs

Anything with infrastructure has historically seen increased in capital gains and rental yields. If you look at the North-West rail link suburbs such as Castle Hill or Kellyville, these suburbs have had strong demand thanks to demand from dual income families looking to purchase homes.

Suburbs surrounding Sydney’s second airport may be next to boom but have already seen a dramatic increase in prices thanks too speculation from investors. A strategic place to look at a long-term plan for purchasing are the suburbs which are next to receive rail infrastructure near Leppington. These are suburbs such as Rossmore, Bringelly, Maryland & Oran Park are all about to receive brand new rail stations connecting them to the surrounding suburbs and beyond.

According to the Australian Bureau of Statistics a suburb such as Bringelly sees 5.5% population growth from the year before, consists primarily of couples with children and the main occupation is people within trade work. This is generally strong indicating factors to a growth in demand for the suburb.

Do not expect overnight returns in these areas as it is a long-term waiting game to see the suburbs grow and develop to their full potential.