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Distressed Properties Report
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Distressed Property of the Week

1414/220 Spencer Street, Melbourne VIC 3000

The vendor is now accepting offers from $310,000 on this 1-bedroom apartment, located in Melbourne. The property last sold in August 2012 for $339,000 where the vendor is hoping the reduced price will attract either an owner-occupier or landlord for a quick sale. 

According to Denis Pagan and Ofer Rotkopf from Pagan Real Estate, this 1-bedroom apartment is located on the 6th floor in the Upper West Side Hudson Apartment Complex. The open plan unit features floor to ceiling windows and a spacious balcony. Public transport, inner-city dining, entertainment and shopping are all within walking distance.
If you think it is a good deal, make sure you crunch the numbers first. In postcode 3000, the vacancy rate has decreased over the last 12 months to 8% in December 2021 from 8.7% in December 2020. Asking rents have fallen 6.1% over the last 12 months to 7 December 2021. The gross rental yield on units currently sits at 4.2%.

However, asking sales prices for units have decreased over the year by 1.9%. You can view recent sales in 3000 here. 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.

Listings Fall over November

Sydney and Canberra stock rise again

Figures released today by SQM Research reveal national residential property listings fell in November 2021 by 2.6% to 233,716 from 239,866 in October 2021.

Sydney and Canberra are the two cities to have recorded a rise in listings of 3.2% and 3.9% over the month of November. Over the year, property listings are trending downwards nationwide. Compared to 12 months ago, national listings fell 21.1%, with the biggest falls in Brisbane, Adelaide, Canberra and Hobart.

Nationally, new listings (Less than 30 days) rose 2.3% over November 2021 to 96,346 properties on the market, though they rose 20.4% over the year. New listings rose the most in Perth up by 9.6%. Over the year, new listings rose the most in Darwin by 44.2%, followed by Perth and Sydney by 43.1% and 30%. In a sign that older stock is clearing, property listings over 180 days dropped by 7.3% in November 2021 and they are down 51.2% over the year, with monthly falls as old listings were bought up at a quicker rate.

Louis Christopher, Managing Director of SQM Research said:

“We were expecting fall in listings given the strong October numbers. While there were falls, the count was stronger than expected. Especially for Sydney. Just like this time last year, vendors are keen to sell before Christmas but in greater numbers. Perhaps it is due to the lockups of July to October. It could also be due to more vendors believing we are at the top of the market in our two largest cities. Either way selling activity remains very strong and will remain very strong right up to Christmas.

This week a record 6,315 auctions are scheduled. I suspect agents are going to remain busy even through the traditional annual Christmas/New Year holiday hiatus”

Asking Prices
Over the past 30 days to 7 December 2021, Sydney and Melbourne  asking prices rose by 3.7% and 0.8% for houses and rose by 0.6% and 0.7% for units. Brisbane asking prices rose by 3.7% for houses and fell by 0.1% for units. Perth asking prices for houses fell by 0.3% and rose for units by 0.5%. Adelaide asking prices for houses rose by 3.4%. Canberra and Hobart asking prices for houses rose by 10.7% and 0.3%, while units fell by 0.2% and 0.4%. Darwin asking prices for houses and units fell by 0.1% and 0.2%.

Auction Results

for week ending 5th December 2021
Full individual auction results can be found on our website:

Auction Listings*

for week ending 12 December 2021

CITY Saturday   Rest of Week STATE Saturday   Rest of Week   Link
Sydney 1401   546 All NSW 1663   847   Auctions in NSW
Melbourne 1882   434 All VIC 2091   496   Auctions in VIC
Brisbane 205   118 All QLD 337   255   Auctions in QLD
Perth 22   5 All WA 23   9   Auctions in WA
Adelaide 193   144 All SA 205   149   Auctions in SA
Canberra 134   90 All ACT 134   90   Auctions in ACT
Darwin 4   5 All NT 4   8   Auctions in NT
Hobart 1   0 All TAS 4   0   Auctions in TAS

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

Real Estate Realities

Tyra Banks selling her fifth and final property for $11.25 million

Tyra Banks currently has her exclusive LA Palisades property for sale for $US7.895 million ($11.25 million). According to Dirt; Banks has flipped four homes since 2018, in the  Pacific Palisades seaside community. If this property fetches the asking price, Banks is looking to profit $US1 million.

The contemporary estate is Banks fifth and final Palisades property and is currently her personal home. The residence has five bedrooms, six bathrooms, an office, multiple living spaces, media room, gym and a pool. The rooftop deck completes the estate with a hot tub, fire pit and outdoor kitchen.

The most impressive feature of the property is the use of glass walls throughout the living area's. This allows for panoramic views of the coastline and city lights throughout the estate. The listing is currently being held by Heidi Lake of Sotheby’s International Realty Beverly Hills and James Respondek of Rodeo Realty.

More ...

Black Dragon's Words for the Week


“Christmas is a season not only of rejoicing but of reflection"

~ Winston Churchill 

SQM Research Housing Indexes

SQM Research Weekly Asking Prices Index

Week ending
7 Dec 2021
   Asking Price    Chg on
prev wk
Rolling month
% chg
      12 mth
% chg
Sydney All Houses 1,747.1 8.2  3.7%  26.4% 
All Units 708.3 -1.4  0.6%  5.6% 
Melbourne All Houses 1,140.2 2.2  0.8%  11.4% 
All Units 578.0 0.4  0.7%  0.3% 
Brisbane All Houses 814.4 3.1  3.7%  24.2% 
All Units 409.2 0.1  -0.1%  7.9% 
Perth All Houses 712.8 -0.9  -0.3%  7.3% 
All Units 395.5 0.5  0.5%  3.9% 
Adelaide All Houses 643.6 6.7  3.4%  19.9% 
All Units 324.8 -0.8  0.0%  2.6% 
Canberra All Houses 942.3 33.7  10.7%  15.4% 
All Units 473.0 2.6  -0.2%  -0.5% 
Darwin All Houses 646.3 3.5  -0.1%  10.6% 
All Units 377.3 -2.5  -0.2%  6.1% 
Hobart All Houses 684.8 0.0  0.3%  16.5% 
All Units 441.0 -0.7  -0.4%  13.2% 
National All Houses 757.6 4.7  2.4%  19.0% 
All Units 450.5 -3.2  1.1%  9.8% 
Cap City Average All Houses 1,186.7 5.1  2.3%  19.5% 
All Units 587.2 -1.3  0.2%  3.9% 

Next update: 14 Dec 2021

SQM Research Weekly Rents Index

Week ending                               
4 Dec 2021
Rent     Chg on
prev wk
     Rolling month
% chg
       12 mth
% chg
Sydney All Houses 731.8 4.2  3.6%  14.7% 
All Units 474.1 0.9  0.7%  6.1% 
Melbourne All Houses 527.7 0.3  1.0%  3.1% 
All Units 372.5 -0.5  -0.1%  -3.0% 
Brisbane All Houses 541.8 2.2  1.4%  15.9% 
All Units 399.8 1.2  1.4%  6.1% 
Perth All Houses 542.2 7.8  3.3%  11.7% 
All Units 399.1 -2.1  -1.3%  9.3% 
Adelaide All Houses 461.9 -0.9  0.7%  9.8% 
All Units 335.9 2.1  0.0%  6.8% 
Canberra All Houses 728.1 6.9  1.7%  12.4% 
All Units 528.9 2.1  1.1%  10.9% 
Darwin All Houses 639.8 7.2  3.3%  10.3% 
All Units 456.6 0.4  -3.5%  17.0% 
Hobart All Houses 495.9 2.1  -1.6%  8.7% 
All Units 428.3 11.7  2.1%  6.3% 
National All Houses 548.0 0.0 2.0%  13.2% 
All Units 409.0 -4.0  -0.7%  7.1% 
Cap City Average All Houses 600.0 4.0  2.7%  11.1% 
All Units 426.0 0.0 0.2%  4.4% 

Next update: 12 Dec 2021

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