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Last Newsletter of the Year!

Merry Christmas & Happy New Year 
we will be back 25.01.2022

Distressed Property of the Week

1004/231 Miller Street, North Sydney NSW 2060

The vendor is now accepting offers from $1,225,000 on this 2-bedroom apartment, located in North Sydney. The property is reduced from the initial asking price of $1,400,00-$1,450,000 in September 2021 and the previous sold price of $1,280,000 in February 2017. The vendor is hoping the reduced price will attract either an owner-occupier or landlord for a quick sale.

According to Harrison Wright from Altium Property, this open plan 2-bedroom residence features a balcony, secure underground parking and basement storage. The residence is only a short walk away from North Sydney's CBD and transport options that can take you to the City CBD.

But is the apartment a good investment? Asking sales prices for 2-bedroom units in postcode 2060 over the 12 months to 21 December 2021 have decreased by 6.9%.You can view recent sales in 2060 here.

However, asking rents for 2-bedroom units over the last 12 months have increased by 6.3% to 21 December 2021. The gross rental yield on 2-bedroom units currently sits at 3.1%. In postcode 2060, the vacancy rate in has decreased to 3.4% in December 2021 from 5.2% in December 2020. 

Given these figures, equip yourself with the latest market research, as you could possibly drive a harder bargain with the seller.

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 19th December 2021
Full individual auction results can be found on our website:

Auction Listings*

for week ending 26 December 2021

CITY Saturday   Rest of Week STATE Saturday   Rest of Week   Link
Sydney 0   173 All NSW 0   284   Auctions in NSW
Melbourne 1   306 All VIC 1   344   Auctions in VIC
Brisbane 0   56 All QLD 0   102   Auctions in QLD
Perth 0   3 All WA 0   9   Auctions in WA
Adelaide 0   52 All SA 0   52   Auctions in SA
Canberra 0   41 All ACT 0   41   Auctions in ACT
Darwin 0   0 All NT 0   0   Auctions in NT
Hobart 0   0 All TAS 0   0   Auctions in TAS

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

Real Estate Realities

Miami Beach Mediterranean Listed at $13 Million More Than It Sold for a Year Ago

Venetian Islands over the years have become increasingly popular with Silicon Valley moguls, looking to capitalise on the property market. "Real estate prices on the pill-shaped islands, which float just above the smooth waters of Biscayne Bay, reflect the influx of tech money."

Alessandra Lo Savio, a Jamaica- and Miami-based film producer and entertainment recently flipped a 8,100 square foot estate located on the edge of De Lido Island, Miami for US$28.5 million. Savio purchased the estate 12 months earlier in January 2021 for US$15.5 million, making a US$13 million profit. The estate was previously sold in 2018 for US$8.7 million.

The six bedroom and seven bath Mediterranean-style property was originally designed in 2006 by architect Ramon Pacheco. The windows allow for the rooms to be light filled and allow for a view over Biscayne bay. The family room features archways and tall ceilings, while a "glass-enclosed wine storage wall, divides the dining room and living room." 

Outside, the estate features many lounge areas, a kitchen and an infinity pool with views overlooking the bay. The estate is walled and gated to ensure security

More ...

Black Dragon's Words for the Week

 

“You don't have to see the whole staircase, just take the first step"

~ Martin Luther King

SQM Research Housing Indexes

SQM Research Weekly Asking Prices Index

 
Week ending
21 Dec 2021
Asking Price    Chg on
prev wk
Rolling month
% chg
     12 mth
% chg
Sydney All Houses 1,758.6 14.9  1.4%  25.5% 
All Units 715.3 2.8  1.0%  6.6% 
Melbourne All Houses 1,152.0 8.8  1.4%  11.7% 
All Units 576.1 -2.1  -0.5%  0.2% 
Brisbane All Houses 819.1 7.8  2.1%  24.3% 
All Units 414.6 2.6  0.9%  9.4% 
Perth All Houses 713.4 1.7  -0.1%  7.3% 
All Units 398.1 2.3  0.6%  3.9% 
Adelaide All Houses 654.3 4.5  3.2%  22.0% 
All Units 327.5 1.2  0.7%  3.9% 
Canberra All Houses 995.9 24.5  16.0%  21.5% 
All Units 493.4 10.7  5.1%  4.0% 
Darwin All Houses 649.2 1.6  0.2%  10.9% 
All Units 370.8 -3.3  -3.6%  3.6% 
Hobart All Houses 684.7 0.0  0.0%  15.8% 
All Units 444.2 -1.1  0.5%  19.5% 
National All Houses 759.6 3.3  0.5%  19.0% 
All Units 453.7 3.5  0.9%  11.4% 
Cap City Average All Houses 1,201.2 18.4  1.7%  19.8% 
All Units 593.1 3.0  0.6%  5.1% 

Next update: 28 Dec 2021

SQM Research Weekly Rents Index

 
Week ending
20 Dec 2021                              
Rent         Chg on
prev wk
     Rolling month
% chg
      12 mth
% chg
Sydney All Houses 731.4 -2.4  1.2%  14.7% 
All Units 475.7 0.3  0.7%  6.7% 
Melbourne All Houses 528.7 0.3  0.6%  3.3% 
All Units 375.2 -0.2  0.6%  -1.2% 
Brisbane All Houses 546.7 2.3  1.4%  16.0% 
All Units 400.5 0.5  1.0%  5.3% 
Perth All Houses 556.0 3.0  4.6%  13.8% 
All Units 400.3 1.7  -0.5%  9.7% 
Adelaide All Houses 465.7 2.3  1.5%  10.7% 
All Units 340.6 4.4  2.4%  8.2% 
Canberra All Houses 740.3 5.7  3.4%  13.0% 
All Units 533.0 3.0  1.4%  12.6% 
Darwin All Houses 637.4 -2.4  2.8%  7.5% 
All Units 455.2 -3.2  -0.5%  14.5% 
Hobart All Houses 493.1 -0.1  -0.1%  6.5% 
All Units 434.3 -0.3  6.4%  9.4% 
National All Houses 551.0 0.0 -0.2%  13.6% 
All Units 416.0 0.0 1.5%  9.5% 
Cap City Average All Houses 600.0 -3.0  0.8%  11.1% 
All Units 429.0 1.0  0.7%  5.7% 

Next update: 28 Dec 2021

SQM Ratings Newsletter ☆☆☆☆☆


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