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Distressed Properties Report
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Distressed Property of the Week

5/43 Crown Street, Granville, NSW 2142

The vendor is accepting offers from $549,000 as of 27 August on this 2-bedroom townhouse, located in Granville. The property last sold in June 2017 for $600,000 and the vendor is hoping the reduced price will attract either an owner-occupier or landlord for a quick sale. 

According to Steve Sanders of Starr Partners, The 2-bedroom townhouse is set in a boutique complex made up of six townhouses. The property features a covered terrace and security parking, while allowing for easy access to nearby parklands and public transport.

If you think it is a good deal, make sure you crunch the numbers first. In postcode 2142, the vacancy rate sits at 3.9%, above Sydney's overall vacancy rate of 2.7%. Asking rents have fallen 3.6% over the last 12 months to 7 September. The gross rental yield on units currently sits at 4.2%.

However, asking sales prices for units have fallen over the year by 8.9%. You can view recent sales in 2142 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 5 September 2021

Full individual auction results can be found on our website:

Auction Listings*

for week ending 12 September 2021

CITY Saturday   Rest of Week STATE Saturday   Rest of Week   Link
Sydney 517   186 All NSW 594   286   Auctions in NSW
Melbourne 429   76 All VIC 526   97   Auctions in VIC
Brisbane 116   93 All QLD 200   181   Auctions in QLD
Perth 4   8 All WA 6   10   Auctions in WA
Adelaide 114   54 All SA 114   60   Auctions in SA
Canberra 33   11 All ACT 33   11   Auctions in ACT
Darwin 1   4 All NT 1   4   Auctions in NT
Hobart 2   0 All TAS 2   0   Auctions in TAS

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

Real Estate Realities

Potts Point mansion Jenner House
returns to market 

The Jenner House, a historic Potts Point mansion is returning to the market for an estimated $34 million. Luxury car dealer and racehorse owner Terry Mullens and wife, Wendy purchased the home 12 years ago for $15 million from horse breeder Tony Peterson.

The Macleay Street estate is featured on one of the suburbs largest blocks of land, an estimated 1,900 square metres and features impressive harbour views. The five-bedroom, five-bathroom home was built and designed by Edmund Blacket in 1871. In 1877, a third floor addition was designed by Thomas Rowe. In 1999, the property was added to the NSW State Heritage Register and has been known by various names over its 150 year history. These names include “Fleet Club, Stramshall, Jenner Private Hospital, Kurragheen and Lugano.”

The estimated $34 million price guide for the Jenner House has been based off the sale of another Potts Point mansion, the Bomera. This estate was purchased two years ago by Sanjeev Gupta, an Indian-born British businessman for $34 million. The sale was managed by sales agent Bill Malouf, LJ Hooker Double Bay, who will also represent the sale of the Jenner house on behalf of property owners Terry and Wendy Mullen.

More ...

Black Dragon's Words for the Week

"Be yourself; everyone else is already taken"

~ Oscar Wilde    

SQM Research Housing Indexes

SQM Research Weekly Asking Prices Index

 
Week ending
7 Sep 2021
Asking Price Chg on
prev wk
Rolling month
% chg
12 mth
% chg
Sydney All Houses 1,620.1 41.5  3.2%  19.9% 
All Units 705.4 -8.9  1.4%  3.9% 
Melbourne All Houses 1,097.5 9.8  1.5%  6.8% 
All Units 566.0 -0.6  0.0%  0.7% 
Brisbane All Houses 721.2 0.1  1.6%  12.4% 
All Units 394.2 1.0  0.4%  4.8% 
Perth All Houses 694.3 0.5  -0.3%  4.9% 
All Units 389.3 0.7  0.0%  2.4% 
Adelaide All Houses 593.7 5.6  3.5%  12.9% 
All Units 326.7 -0.5  -1.3%  6.0% 
Canberra All Houses 839.6 5.1  2.3%  4.9% 
All Units 493.1 1.6  1.7%  8.4% 
Darwin All Houses 622.6 6.2  2.9%  8.3% 
All Units 365.5 -1.8  -1.6%  5.8% 
Hobart All Houses 671.7 8.6  2.7%  17.2% 
All Units 436.0 7.7  1.1%  9.7% 
National All Houses 704.0 8.5  2.6%  18.2% 
All Units 434.5 1.5  1.6%  9.9% 
Cap City Average All Houses 1,124.3 23.1  4.3%  15.1% 
All Units 577.5 -11.6  -0.8%  2.4% 

Next update: 14 Sep 2021

SQM Research Weekly Rents Index

 
Week ending
4 Sep 2021                                   
Rent     Chg on
prev wk
   Rolling month
% chg
     12 mth
% chg
Sydney All Houses 702.5 1.5  0.9%  12.0% 
All Units 465.6 -0.6  -0.1%  1.4% 
Melbourne All Houses 519.7 0.3  0.0%  -0.2% 
All Units 371.4 0.6  0.5%  -5.7% 
Brisbane All Houses 521.0 2.0  1.0%  12.7% 
All Units 395.3 -0.3  0.2%  4.7% 
Perth All Houses 524.7 -1.7  -0.5%  10.6% 
All Units 396.1 -0.1  -2.0%  11.1% 
Adelaide All Houses 452.6 1.4  1.1%  10.2% 
All Units 336.9 1.1  0.5%  6.7% 
Canberra All Houses 719.4 -2.4  -1.2%  13.3% 
All Units 515.5 0.5  1.2%  9.8% 
Darwin All Houses 614.9 6.1  -1.1%  22.6% 
All Units 464.1 1.9  0.3%  28.3% 
Hobart All Houses 476.4 3.6  1.1%  8.4% 
All Units 427.0 -6.0  2.9%  14.4% 
National All Houses 532.0 4.0  0.9%  15.7% 
All Units 401.0 3.0  0.8%  8.1% 
Cap City Average All Houses 579.0 1.0  0.7%  8.6% 
All Units 421.0 0.0 0.0% 1.7% 

Next update: 12 Sep 2021

SQM Ratings Newsletter ☆☆☆☆☆


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