And now the Real Estate show thanks to Domain, Australia's trusted property marketplace. Alice Stoles is a national property editor at Domain. We have a chat each week and jeez with us right now. Good day, Alice, Good morning, Luke.
Great to bear with you.
Thanks lovely to talk to you again. Let's kick off with the latest auction numbers and clearance rates in Sydney and Brisbane. What can you tell me?
Well, Sydney's got not doing not badly given we are now well and trulli in winter, seven hundred and seventy three auctions taking place around the city today. Brisbane has seventy eight options now. Last week and of course long weekend in Sydney last weekend clearance rates came in as sixty six percent for Sydney and in Brisbane they came in at thirty nine percent. So it's kind of we're
just slipping into that slower period, Luke. But let's see what happens in the next couple of weeks, just to see how kind of reactive I guess buyers are to the economy and all this global uncertainty.
Indeed, right now our expensive and not so expensive buyers from last week in Sydney and in Brisbane East Linfield got the top figure. Did it In Sydney it.
Did indeed, and this was a three bedroom house. Now, there were twelve bidders at this auction. Look it was an aged three bedroom home on around just a bit of a nine hundred square meter, so twelve bidters because basically it had the appeal of being able to be a knockdown house. But the bidding for this fun went
bananas and someone paid four point five million dollars. Will essentially be a knockdown and then I'll rebuild their green behind a local family from the area, and the vendor's son apparently said to us that his parents were over the moon. They'd been in the house for twenty six years and clearly they were pragmatic about not to be emotional about it, because I think I'd be a bit of a wreck if that happened to me, knowing that
someone was going to knock out in the house. But they obviously just could see the upside of the opportunity, yes, to make a very tidy profit on it. So a pretty incredible situation. That scene play out in different spots of Sydney, particularly when Heritage and I guess the development
opportunities are there for some people in Brisbane. It was in Tentan Reef we had a lovely, very big, traditional kind of English style house with incredible views that sold for four point two one million dollars a three bedroom house there. And again we're just saying, if you're in that right location with beautiful views, people will absolutely pay for it if their pockets are deep enough.
Yes. Indeed, just back to what you were saying there about the future of a person's property, and you hope you get through the process thinking, you know what, that
was okay. But someone very close to me thought when they were selling their house to a person that made it clear that everything there was wonderful and they couldn't wait to live in it and it was fantastic blah blah blah, And they ended up doing a deal, only to find it a week after moving out the place was up for rent, and they thought, Wow, why wouldn't they just straight talk? You know, I hear what you're saying.
People need to be honest about this stuff. And I guess, you know, you should be aware that people are trying to get an advantage or something. But that I think that is about heroe.
People can see, yeah, some of them can sort of see what sort of an emotional vendor potentially how they react to. We've also seen situations in the market all around the country actually where where sometimes a very sort of plucky, particularly first home buyer, we'll go out and a limit often write a letter to a vendor and say, I absolutely love your house, here's my story about my
proper ownership. And often if the vendor is that way inclined, they react very positively, taught and having some instance taken a lower offer from that first time buy purely for the emotional appeal of giving it to someone who is going to do the right thing with it. Now, in cases I'm talking about, there's been complete sincerityene honesty there. But I'm wonder if we're going to start seeing more of people kind of shaping their own narrative just to
get a good deal. Probably unfortunately, is the answer to that one.
Yeah, fascinating. Now the best buy is Sydney Harris Park.
Yeah, look there was a place in Harris Park, two bedroom place, five hundred and eighty five thousand dollars. This one soulful and to me, you know what, Luke, This shows me that going out that little bit further or
to sort of areas like this. Look, I mean two bath, one parking spot five hundred and eighty five thousand, pretty good buying in Sydney at the moment, knowing is our country's most expensive market and we rarely see anything with at least two bedrooms going under sort of seven hundred thousand at the moment, So a slight encouraging way of
light for buyers there. Increstmead in Brisbane there was a home that for five bedrooms sold for six hundred and twenty five thousand dollars and needs a bit of love this place, But I'm hoping again that someone kind of makes the most of it and can do something quite clever there.
Tell me about this new research from Domain looking at buyer search data and linking it with actual property listings and showcases are growing divide, doesn't Yeah?
Look, this is what I sort of think about. Is that disconnect to what sellers expect when it comes to selling and what buyers are willing to pay Now it says to me a lot also about the fact that many buyers aren't really educating themselves enough about how quickly prices can move in certain parts, So I think the message means that buyers really need to go in with this with their eyes wide open and ensure they're really sort of o FA with what prices are at this
current point in time, because the biggest mismatch, particularly in the Brisbane area, is that in those inner city suburbs and areas also like Sherwood, Interrapilli Candale, are also showing gaps of what buyers are willing to pay and what sellers are expecting to sell for. And I guess the reality is that we sort of see this imbalance in
the market when we're just seeing a disconnection. People I guess aren't being realistic enough at what they have to pay, and sellers are also being overly bolshy about what they expect to get for the house, particularly I guess, giving the affordability constraints that we're seeing, especially in Brisbane in a growing way at the moment.
Yes, well, that is that's really worth a look at. Go to the domain website to get all that information. Are you telling me that there's a two bedroom cottage in Wales that you can get for a couple of bucks?
It's what I mean that these stories you can't you couldn't make them up. A two bedroom cottage is on the sale for two dollars. Now, Luke, brace yourself that this is completely in a derelict state. But it's in Pembroke Dock, a town in the rural countryside of South Wales. It overlooks a beautiful river, but basically there is so much work that needs to be done here. Now the cottage will be sold on an online auction and it's part of a collection of eighty properties being sold during
a two day auction event. Now, of course people in Brisbane are all across the fact that they often have these super action events take place, a collection and properties listed at the same time. We don't see them very much in Australia except for in that Brizze market. But this place in the in Wales is absolutely having it. The lease hold goes for nine hundred and ninety nine years, but I just cannot imagine the work needs to be done.
And look, my advice is also this, if it seems too good to be true, it normally is who knows what's going on here? In terms of development or in a particularly around the waterways. There can also be obstacles there, but certainly worth having a look a look at. If you've got a bit of an EU passport and potentially live over there, check it out.
Yeah too, Bucks, goodness me, I'll be there in a few weeks. Actually I might just no, I won't back in a second Alic Stoles from the Domains were there's properties of the week. The first one in New South Wales to Barrel Award winning renovation architecturally designed place, five bed, three bar, three car. But what about in Brisbane We've got the home of a stuntman to the stars, is that right?
That's right Jimmy Christian and who is like these stuntman in Australia and has looked after everybody from George Colony to Ryan Gossip. A beautiful house on Oak Beach. I mean that's the Port Douglas region, beautiful beachside sanctuary, six bed, four bath, two car. And I just think what a wonderful example of those little bolt holes you can go to, particularly if you're in a stressful job like being a stuntman.
I can't imagine what that would be like Luke, So opportunity for somebody to kind of make their own little beautiful spot with someone who's been you know, touched the Hollywood stars.
Yeah, that's fantastic. Hey, have a terrific weekend, Alex. I'll talk to in a week's time.
Thanks so much, Thanks Luke.
Everything we talk about. Go to domain dot com, dot a you and you can see the properties have interested in everything. That's all the research. They're really important information. If you're buying a home like I went through, you need domain