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Sixties-Inspired house hits the market

Reminiscent of the Peter Sellers’ film classic, The Party, this eclectic masterpiece must be seen to be appreciated.

Picture: realestate.com.au

The outdoor area includes an entertaining deck and pool. Picture: realestate.com.au

Selling agent Richard Young, from Caporn Young Estate Agents – Claremont, says the residence at 42 Alexandra Road, East Fremantle presents an “out-of-the-box” real estate proposition, heavily inspired by the 1960s film and unique décor.

“It’s a very edgy, contemporary home. It’s got amazing spaces and it’s just been very well done,” Young says.

“It’s really designed so that each of the spaces have their own amenities. So, the master suite is a true master suite with its own fridge, dishwasher, sitting area, TV area – it’s really quite a special property.”

Picture: realestate.com.au

The home features industrial-style floating staircases. Picture: realestate.com.au

Built by the current owners in 2012, the five-bedroom, four-bathroom property heralds an abundance of space and light, and natural stone and timber detail to create a private sanctuary.

With clean, geometric lines, a passive solar design and breezeway considerations, the home is set high on Alexandra Road with vistas extending across the treetops and to Fremantle Harbour.

Picture: realestate.com.au

The kitchen bench can accommodate 20 people. Picture: realestate.com.au

The property features travertine flooring, complete with underfloor heating in the living areas and bedrooms, and a separate study.

Entertaining has been a significant consideration in the design, with the kitchen bench large enough to accommodate 20 people and bi-fold doors that open from the living area to the pool deck, which also hosts an outdoor shower.

Picture: realestate.com.au

The house has two lounge areas. Picture: realestate.com.au

The kitchen has a Vintec wine fridge, built-in coffee machine, two separate larders and two integrated cupboard-concealed dishwashers and a fridge.

The two industrial-style floating staircases have been carefully crafted with steel frames against custom-made timber slats imported from Singapore.

Picture: realestate.com.au

One of the five bedrooms. Picture: realestate.com.au

There is integrated remote perimeter and front deck access from the two split-level, lower-ground bedrooms, as well as a below-ground cellar and safe, a ducted vacuum system, attic storage, garden water tank and rear access to the secure four vehicle carport.

This article was first published in www.realestate.com.au. Here is the link to the original article: https://www.realestate.com.au/news/east-freemantle-party-house-hits-the-market/

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Property trends: The Brisbane buyers turning their backs on renovated Queenslanders

Lifting and building in underneath a Queenslander has been the modus operandi of many a Brisbane renovator these past 15 years or so but there’s now a new breed of buyer who is begging for you to stop.

Property experts are reporting a rapidly growing number of house hunters who are bemoaning the lack of Queenslanders kept to their original one-level design during the renovation process, with one agent calling it the next big trend to sweep Brisbane.

Tyson Clarke of Queensland Sotheby’s International said he had a list a mile long of frustrated buyers chasing a single-level Queenslander.

“The emphasis has been on making Queenslanders bigger and better for so many years but I’m finding buyer after buyer who wants a smaller, well-designed character home,” he said.

“Bigger is not always better — my buyers don’t want that many bedrooms, they don’t want the stairs and they don’t want that much space.”

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35 Emma Street, Kalinga was hotly contested when it sold earlier this year. Photo: Queensland Sothebys International

Mr Clarke said he had one client who had been searching for the right house for more than 12 months.

“She’s been looking for a year for a place with character that doesn’t have stairs,” he said. 

“She’s so frustrated and keeps saying ‘why do people keep lifting them and making them five bedrooms?’ She doesn’t want a Queenslander that’s been doubled or tripled in size. She wants the Queenslander in its more original form with only a few steps up to a front verandah.

“I have so many more clients who want exactly the same thing. So you can imagine what happens whenever one of these houses comes up — which is rarely — buyers are all over them.”

Earlier this year Mr Clarke listed a house at Emma Street, Kalinga — a two-bedroom, two-bathroom low-set character home that had been beautifully renovated — and it was snapped up within days for an impressive $1.27 million.

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35 Emma Street, Kalinga was beautifully renovated but all on one level. Photo: Queensland Sothebys International

“People were all over that house. We had 210 individual groups come through. It was unbelievable how popular it was and everyone just kept asking if we had any more like it,” he said.

Mr Clarke recently listed a renovated cottage at 4 Owen Street, Wooloowin, in Brisbane’s inner north, and said he had 30 phone enquiries on the first day and 61 groups through in the first two open homes.

“Just think about it. The biggest section of the population is those who are retiring or nearing retirement. Over the next five to 10 years there’s going to be a massive transitional change to the whole structure of our city,” he said.

“The demand for homes like this is going to explode and, at the moment, there is so little supply of it.

“People want to downsize from something big but not always to apartments — they’re too restrictive. I know buyers who’ve moved into penthouses at Newstead and Teneriffe but they want to get out of them, they’re tired of having their pets in apartments.

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Inside 4 Owen Street, Wooloowin. Photo: Queensland Sothebys International

“They want a character house in an inner-city location but they don’t want all the stairs and they want a backyard but not an enormous one; they’re asking me is there room for a veggie patch and a dog.”

Independent buyers agent Wendy Russell is based in Brisbane and said she was fielding the same requests as Mr Clarke.

“I recently worked with a woman who relocated from Sydney back to her home town of Brisbane. She was very specific — she wanted an original colonial Queenslander, all on the one level, nothing built in underneath,” Ms Russell said.

“We managed to eventually find it but it was done as an off-market deal. It wasn’t easy to find something. I’d say Tyson is right — these sort of buyers know what they want, they want it to be a home they can stay in the rest of their life, so they don’t want stairs but they still want the character and all the amenities of the inner-city locations.”

Mr Clarke said while there were still plenty of unrenovated single-level cottages in Brisbane, the challenge was finding cottages that had been renovated without being tripled in size.

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35 Emma Street, Kalinga. Photo: Queensland Sothebys International

“Obviously for families, they’re still going to want that space. But there is such an important segment of the market here that’s being missed and it’s only going to become more of an issue in the coming years,” he said.

“I have a category of homes in my system called low-set homes. There are but a few on the list. And another category is low-set buyers — that list is chockas. There’s an opportunity here for renovators.”

This article was first published in www.domain.com.au. Here is the link to the original article: https://www.domain.com.au/news/property-trends-the-brisbane-buyers-turning-their-back-on-renovated-queenslanders-811577/

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Chinese buyers tipped to search for property as significant investor visa program matures

One group of international buyers looks set to keep searching for high-end homes in Australia despite the curbs on cross-border purchases.

Participants in the significant investor visa program, which allows a pathway to permanent residency in exchange for a $5 million investment in Australian business, are expected to be buying over the near term.

The program began in late 2012 and requires visa holders to lock up cash in shares or another business for a minimum of four years.

Experts say the visa has been popular with Chinese applicants, such as business people who want to split their time between China and Australia.

Those migrants whose four-year terms are expiring will then have the choice to apply for permanent residency, freeing up the cash. This would make funds available locally even as the Chinese government has clamped down on cash being taken out of the country.

From the start of the program to June 2015, some 879 visas were granted, according to the Department of Home Affairs.

In fiscal year 2016, 552 visas were granted, then 405 the following year before dropping back to 183 in fiscal year 2018.

Temporary residents in Australia can buy one established property to live in but are not permitted to buy established homes to rent out. Residential property investments are not allowed to make up part of the $5 million invested.

Those on the SIV program who gain permanent residency after four years are expected to have a realistic commitment to continuing business or investment, but with a permanent visa they do not face the same restrictions on the type of investment.

Carrie Law, chief executive of Chinese international real estate website Juwai.com, now expects some of the cash to flow out of approved investments under the scheme and into the premium property market.

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Experts tip a rise in well-heeled buyers looking at high-end homes.

“Expect an increase in the number of well-heeled buyers looking at expensive listings,” Law said.

“By definition these buyers are very well-to-do. They are wealthy enough to lock up $5 million in strictly controlled investments for four or five years just to obtain a visa and residency in Australia.”

Kay & Burton partner Jamie Mi said the significant investor visa was popular with her international clients looking for prestige Melbourne homes.

She noticed several buyers in this situation, now applying for permanent residency, started looking for property last year and expects more this year.

“A lot of those Chinese buyers see good value in buying this year. Definitely, I would expect them to free up all their money to buy commercial or residential,” Mi said.

“I think this year to us, we will be really busy.”

Sydney Sotheby’s International Realty managing director Michael Pallier said someone releasing $5 million might upgrade the property they currently own, but had not yet seen buyers doing so.

“If they invested in shares it could be worth more than $5 million now … or could it be worth less,” he said.

“I wouldn’t be at all surprised if they would upgrade to a more expensive property.”

He is also seeing continued demand for property from international buyers who have received Australian citizenship and established themselves in Australia.

David Chin, managing director of China-focused consultancy Basis Point, expected visa holders who became permanent residents to use the cash for property focused business opportunities such as property development.

“They may be interested in non-bank lending opportunities where the banks have pulled back on lending,” he said.

“That’s a double benefit of keeping an eye on property market conditions … and deploying that capital.”

Alternatively, a business person could buy an Australian vineyard and use their existing Chinese distribution network to increase local wine production, he said.

Law said wealthy Chinese were flocking to similar visa programs all over the world.

“Some see this as a sign that wealthy Chinese are fleeing their country, but that’s not true,” she said.

“Most Chinese who get golden visas do not actually move overseas. They use their new visas and citizenships to make international travel and investment easier.”

This article was first published in www.domain.com.au. Here is the link to the original article: https://www.domain.com.au/news/chinese-buyers-tipped-to-search-for-property-as-significant-investor-visa-program-matures-812252/