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