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Developers return to Townsville market with $24m unit project

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A $24 million residential apartment project with a focus on environmentally friendly design is set to be launched for a property in Little St, Belgian Gardens.

Plans for the 30-unit development, named Little Street Luxury Residences, include 20 single-storey apartments and 10 three-storey high-end townhouse residences on a 4892 sqm site.

Units will be priced from $495,000 up to $1.5 million.

Townsville-based development company Cable Property Developments are bringing the innovative project to the market.

M Property sales agent Martin McDonough said the directors of Cable had received numerous awards for their work and had a long-term commitment to the region.

He said the project was one of the first major unit developments to be launched in the Townsville market for some eight or nine years.

“We think the Townsville market is ready for this and that the city is on the rebound,” Mr McDonough said.

“We are bringing something new to the market that nobody has seen for some time.”

Mr McDonough said the project’s design took advantage of the site’s northerly orientation to capture cooling ocean breezes that would reduce reliance on electricity, while offering 180-degree ocean and island views just 3.4km from the Townsville CBD.

“Each residence within the development will include access to solar panels and options for battery storage, hot water supplied by heat pumps, recycled building materials, access to parking spaces wired for electric vehicles, energy efficient lighting and appliances and water efficient fittings,” Mr McDonough said.

“Little Street Luxury Residences’ blend of high-end finishes and luxury-style living with a commitment to sustainable design make this project unique for northern Queensland.”

The project will be developed over three buildings with a garden and outdoor space at the front of the property.

Units sizes range from 112 sqm to 283 sqm.

Mr McDonough said an expressions of interest campaign would be launched in the four to six weeks with construction expected to begin in late 2019.

This article was first published in www.realestate.com.au. Here is the link to the original article: https://www.realestate.com.au/news/developers-return-to-townsville-market-with-24m-unit-project/

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A Sydney suburb wearing a disguise: How Curl Curl hides its wealth with laid-back charm

Wealth comes in many forms, from over-the-top displays to the under-the-radar style of US billionaire Warren Buffet, who still lives in the modest home he bought in the 1950s.

Curl Curl, on Sydney’s northern beaches, has a median family weekly income nudging $3000 a week, well above the NSW average.

James Smyth, principal at SEA-Smyth Estate Agents, says this affluence wears a casual disguise.

“You could see someone wearing a T-shirt and board shorts and you won’t know they’re the CEO of a public listed company,” Smyth says.

Curl Curl  Neighbourhood
Curl Curl is the kind of neighbourhood where CEOs go incognito in boardshorts and thongs. Photo: Steven Woodburn

Eighteen kilometres north of the Sydney CBD and five kilometres north of Manly, Curl Curl is famous for its outdoorsy lifestyle, from swimming and surfing, to running or walking along the waterfront paths.

Smyth’s family has a long history in the neighbourhood: his grandmother ran a milk bar on the oceanfront Carrington Parade in the 1950s.

He traces the birth of modern-day Curl Curl, with its comfortable family homes and small clusters of apartment buildings, to the mid-1990s, when would-be Manly buyers were priced out of that suburb.

Curl Curl  Neighbourhood
Buyers can choose from homes in original condition, apartments and more recently built or updated residences. Photo: Steven Woodburn

“There was no negotiation: buyers were just coming in and paying the full asking price. Because they were coming from an area of money, they started building and renovating.”

Today’s house hunters can choose from homes in original condition, a small selection of apartments and more recently built or updated residences, often with impressive water views. They might need to be patient, as Curl Curl only has about 1400 homes, meaning “for sale” signs aren’t all that common.

Curl Curl  Neighbourhood
You’ll find ample foodie options lining the beach. Photo: Steven Woodburn

Residents enjoy South Curl Curl Lifesaving Club’s cafe, and for a bigger range of dining there is the nearby Harbord Diggers and Freshwater village.

The B-line bus service has been warmly welcomed by CBD commuters – from nearby Brookvale, the commute takes roughly half an hour.

Smyth says two-bedroom apartments overlooking the beach are priced from about $900,000. Free-standing three or four-bedroom homes typically command between $2.1 million and $2.7 million.

Curl Curl  Neighbourhood
The beach lifestyle is a key drawcard luring potential buyers to the area. Photo: Steven Woodburn

Will Bird and his then-fiancee were living in Perth when they travelled to the northern beaches to get married.

The couple rented a unit overlooking the surf club at Curl Curl and decided if they ever relocated to Sydney, this is where they would like to live. They have now called Curl Curl home for three years.

“I love the beach lifestyle,” Bird says. “Everyone says that but there’s no other beach in Sydney that gets such consistent surf. And for an urban beach, it’s still not overpopulated.”

Two homes in the area

1 Adams Street

1 Adams Street Curl Curl NSW
1 Adams Street, Curl Curl NSW. Photo: Supplied

On a level, 651-square-metre corner block less than 10 minutes’ walk from the beach and Harbord Lagoon, this two-storey home is configured in duplex style. Renovating or rebuilding might appeal.

Cunninghams have scheduled a March 23 auction and are quoting a $1.85 million bidding guide.

10 Gardere Avenue

10 Gardere Avenue Curl Curl NSW
10 Gardere Avenue, Curl Curl NSW. Photo: Supplied

This is the property’s first time on the market in 50 years. The house, on a 456-square-metre block and 300 metres from the beach, is largely in original condition, offering plenty of scope for improvement.

The March 30 auction is fast approaching, with Stone Real Estatehandling the campaign. Expect to pay between $2.5 million and $2.75 million.

This article was first published in www.domain.com.au. Here is the link to the original article: https://www.domain.com.au/news/the-sydney-suburb-wearing-a-disguise-how-curl-curl-hides-its-wealth-with-laid-back-charm-805737/

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Best suburbs to sell a home based on past 10 years of price growth trends

Long-time homeowners across Sydney are still reaping major windfalls from their home sales, despite recent falls in prices.

An analysis of sales records has revealed the average Sydney homeowner selling a property bought 10 years ago made about $475,000 in resale profit.

The average apartment seller who owned their home for the same period pocketed about $373,000 in median resale profit, according to the CoreLogic data.

The big profits were amassed in an otherwise subdued market.

Sydney’s median property price dropped nearly 11 per cent over the past year and the number of buyers reporting they’re actively looking for property fell about 25 per cent.

Realestate.com.au chief economist Nerida Conisbee said the profits showed the recent downturn had a minimal impact on sellers.

Many of the historic homes across Strathfield are being restored by young families.

“Recent falls in prices are not that significant when you compare them to long-term trends,” Ms Conisbee said.

“Most homeowners benefited from an incredible run-up in prices over many years. They’re not affected by the weaker market in the same way as those who bought when prices were at their peak, and they’re not the majority of sellers.”

Ms Conisbee added that sellers of homes in areas where there was rapid gentrification and population growth were in a particularly strong position.

“Those who own homes in the inner west would have done very well,” she said. “A lot of young people have moved in over the years and renovated the homes, making the region more attractive to other buyers and that’s pushed up the prices.”Andrew Winter: How to flaunt your Unique Selling Point

Sales data confirmed that detached house sellers in the Strathfield council area were getting the biggest resale profits in Sydney.

The average seller resold their house for about $1.18 million above the price they paid 10 years ago.

The growth equated to an 8.7 per cent jump in prices every year — a faster rate of average annual price increase than anywhere in Sydney.

The median price of a house in the area was under $1 million at the end of 2008 and is now $2.1 million.

The boost in prices followed a 15 per cent jump in the size of the local population between 2011 and 2016, when the last two censuses were taken.

Barangah

Strathfield is one of Sydney’s oldest suburbs and many of the homes have a long history.

Devine Real Estate principal Steven Devine said Strathfield also benefited from being at the “geographic centre” of Sydney.

“It’s a better bet for people like medical professionals than somewhere like the eastern suburbs because it’s easier to get around the whole city,” he said.

Mr Devine added that sellers who focused only on the past 18 months of price movements needed to consider the bigger picture.

“It’s true that you will have to accept a price that’s lower than you could have got a year ago. But when you consider the price you could have got three years ago, you’re still significantly up,” he said.

Nick and Nora

Parramatta also had significant price growth over the past decade. Picture: AAP/Justin Sanson

Sellers in nearby Burwood, along with Ryde and Parramatta have also been scoring big wins.

Burwood house prices remain up $850,000 on what they were 10 years ago, while in the Ryde council area the median price difference is $909,000. House prices in the Parramatta LGA have swelled by $660,000 over the decade to hit a median of $1.19 million.

LONG-TIME RESIDENTS

They first moved there 44 years ago knowing little about the suburb — but Rod and Lyn Rimes say they lucked out by buying in Strathfield all those years ago.

The couple have watched their suburb transform into one of Sydney’s most popular areas and became heavily invested in its success along the way — Mr Rimes was a local councillor for many years and served as Strathfield mayor in 1985.

Strathfield sellers Rod and Lyn Rimes

Rod and Lyn Rimes have lived in Strathfield for 44 years.

“It’s a wonderful area,” Mr Rimes said. “When we first moved here there was little open at (Strathfield) square but that’s all changed.

“It’s become very convenient. You’re in the city now in 20 minutes.”

The couple are taking their much loved home at 54 Redmyre Rd to auction with Joe Campisi of Devine Real Estate on April 6 after deciding to downsize to something smaller.

“The house is still very much like it was in 1905 when it was built,” Mr Rimes said. “It’s got these lovely big rooms and high ceilings.”

This article was first published in www.realestate.com.au. Here is the link to the original article: https://www.realestate.com.au/news/best-suburbs-to-sell-a-home-based-on-past-10-years-of-price-growth-trends/