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Distressed Property of the Week

2/153 Westview Street Scarborough WA 6019

The vendor is accepting offers from $499,000 as of 10 September on this 2-bedroom apartment, located in Scarborough. The property was last sold in December 2014 for $560,000 and the vendor is hoping the reduced price will attract either an owner-occupier or landlord for a quick sale. 

According to Jarrad O'Rourke of O'Rourke Reality Investments, the ground floor  2-bedroom apartment is located in the beach side suburb of Scarborough. The modern property features a large 54 square metre outdoor courtyard, while allowing for easy access to shops, cafes, restaurants, bars and Scarborough Beach.  
 
If you think it is a good deal, make sure you crunch the numbers first. In postcode 6019, the vacancy rate has increased over the last 12 months to 0.9% in September 2021 from 0.6% in September 2021. Asking rents have increased 19.3% over the last 12 months to 21 September. The gross rental yield on 2-bedroom units currently sits at 4.8%.

However, asking sales prices for 2-bedroom units have increased over the year by 19.2%. You can view recent sales in 6019 here. Given these figures, it would pay to do more research, as you could possibly drive a harder bargain with the seller.

You can monitor this market and others with SQM Research’s free property data. Also consider the SQM Property Explorer product for more in-depth data and property price estimator.

Auction Results

for week ending 19 September 2021

Full individual auction results can be found on our website:

Auction Listings*

for week ending 26 September 2021

CITY Saturday   Rest of Week STATE Saturday   Rest of Week   Link
Sydney 641   268 All NSW 760   359   Auctions in NSW
Melbourne 272   118 All VIC 310   134   Auctions in VIC
Brisbane 116   75 All QLD 217   159   Auctions in QLD
Perth 2   8 All WA 3   11   Auctions in WA
Adelaide 88   83 All SA 88   90   Auctions in SA
Canberra 58   25 All ACT 58   25   Auctions in ACT
Darwin 4   2 All NT 4   3   Auctions in NT
Hobart 0   0 All TAS 1   0   Auctions in TAS

* The above counts of auctions represent most recent known auction dates for the coming week.

Real Estate Realities

Vaucluse House Sells for $34.5 million

 A quiet sale occurred during the week in Vaucluse, seeing Andrews Meat wholesaler Peter Andrews and his wife Irene selling there 1200 square metre home for $34.5 million. The sale of this Mediterranean-style estate ends half a century of ownership, since the property was sold in 1974 by the Gehrig family for $173,000.

The Fisher Street home emerged as a dress-circle address in recent years, since the street record was set two houses down in 2019. This contemporary house was sold by plastic surgeon Michael Miroshnik for $36.5 million to Sunny Ngai, of the ABC Tissue Empire.” Sources say that the sale was arranged by realtor D’Leanne Lewis and Jacob Hannon of Double Bay’s Laing+Simmons, although details around the buyer still remain a mystery.

The property is set to be the second highest sale of the year in the Vaucluse area. This sale was topped by the “$35 million sale of the Hillside Avenue mansion owned by Hong Kong arts patron Yang Yang to Simon Moore, head of private equity firm Colinton Capital Partners, and his partner Lucinda Cowdroy.”
 
 More ...

Black Dragon's Words for the Week


"You only live once, but if you do it right, once is enough"

~ Mae West

SQM Research Housing Indexes

SQM Research Weekly Asking Prices Index

 
Week ending
21 Sep 2021
Asking Price Chg on
prev wk
Rolling month
% chg
12 mth
% chg
Sydney All Houses 1,660.2 11.4  7.1%  21.3% 
All Units 699.8 -0.8  -1.1%  3.4% 
Melbourne All Houses 1,102.5 -1.0  1.8%  7.3% 
All Units 566.6 0.7  0.1%  0.6% 
Brisbane All Houses 731.4 4.1  1.2%  13.3% 
All Units 396.5 1.5  1.0%  5.5% 
Perth All Houses 696.9 0.7  0.1%  4.9% 
All Units 388.2 -0.7  0.0%  1.8% 
Adelaide All Houses 596.5 -3.1  2.4%  13.4% 
All Units 322.3 -2.2  -1.8%  4.4% 
Canberra All Houses 852.0 6.2  2.9%  6.4% 
All Units 488.6 -1.1  -0.3%  7.2% 
Darwin All Houses 625.4 3.4  1.8%  8.8% 
All Units 365.7 0.5  -1.7%  6.0% 
Hobart All Houses 671.4 2.6  2.6%  17.5% 
All Units 434.8 -0.7  1.4%  8.3% 
National All Houses 704.1 1.2  1.9%  18.1% 
All Units 434.2 -3.1  0.6%  9.8% 
Cap City Average All Houses 1,127.8 -6.0  4.6%  14.4% 
All Units 578.8 1.6  -1.2%  2.9% 

Next update: 28 Sep 2021

SQM Research Weekly Rents Index

Week ending
20 Sep 2021
Rent Chg on
prev wk
Rolling month
% chg
12 mth
% chg
Sydney All Houses 702.7 -0.7  0.1%  13.2% 
All Units 465.0 0.0  -0.3%  2.0% 
Melbourne All Houses 520.2 0.8  0.1%  0.5% 
All Units 372.1 -0.1  0.4%  -5.4% 
Brisbane All Houses 528.2 1.8  2.2%  13.7% 
All Units 395.6 -0.6  0.1%  5.0% 
Perth All Houses 520.2 -2.2  -1.3%  10.7% 
All Units 400.5 3.5  0.1%  12.0% 
Adelaide All Houses 452.8 2.2  0.5%  10.1% 
All Units 340.7 0.3  1.5%  7.6% 
Canberra All Houses 714.3 1.7  -0.6%  14.6% 
All Units 514.1 1.9  0.0%  8.4% 
Darwin All Houses 602.0 -6.0  -1.7%  12.1% 
All Units 464.0 2.0  0.6%  26.2% 
Hobart All Houses 474.2 2.8  1.4%  5.8% 
All Units 429.0 4.0  -0.5%  16.2% 
National All Houses 530.0 -3.0  0.4%  13.7% 
All Units 406.0 4.0  1.0%  9.4% 
Cap City Average All Houses 579.0 0.0 0.0% 9.5% 
All Units 422.0 1.0  0.0% 2.2% 

Next update: 28 Sep 2021

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