SQM Research Weekly Newsletter
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Distressed Properties Report
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Postcode Snapshot
Property Explorer
Boom and Bust 2021 Report
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Distressed Property of the Week
1413/6 Leicester Street Carlton 3053

This one-bedroom apartment in Leicester Street Carlton, has been listed for an ‘urgent sale’ by the vendor. The property was last up for sale in 2017 for $340,000-$360,000 but was never sold and since April has been back on the market. The owner is now accepting offers for $320,000, so is hoping the price is right for either an investor or owner occupier.

Located on the 14th floor, the contemporary styled apartment provides the owner with spectacular city views from the balcony. This home features a stylish kitchen finished with a Caesar stone bench top, pure wool carpet floors, a built-in-wardrobe within the bedroom and reverse cycle heating and cooling. The floor-to-ceiling windows allow for the open plan living and dining area to boast an abundance of natural light. The one-bedroom apartment offers the owner a convenient, low-maintenance lifestyle, being opposite the Queen Victoria Market and within walking distance to the Elizabeth Street trams, Melbourne University, RMIT and Melbourne Central.

Now, let's look at SQM’s numbers to gauge the property’s financial appeal. If you are an investor, caution may be warranted. In postcode 3053, the vacancy rate sits at 9.2%, well above Melbourne’s overall vacancy rate of 3.7%. The gross rental yield on units sits at 4.7% and has slowly been declining, reflecting the plunge of 28.7% in asking rents over the last year. Weekly rental listings currently remain at very elevated levels compared to early 2020 before COVID-19 hit. Asking sales prices have fallen 3.5% over the quarter and 9.9% over the year to June 22, so those numbers don't look so good. You can view recent sales in 3053 here. Given these figures it would pay to do more research, as you could possibly drive a harder bargain with the seller given the fall in prices.

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 20 June 2021

Full individual auction results can be found on our website:

Auction Listings*

for week ending 27 June 2021

CITY Saturday   Rest of Week STATE Saturday   Rest of Week   Link
Sydney 975   257 All NSW 1149   335   Auctions in NSW
Melbourne 1364   226 All VIC 1506   245   Auctions in VIC
Brisbane 128   55 All QLD 216   140   Auctions in QLD
Perth 18   5 All WA 19   9   Auctions in WA
Adelaide 98   53 All SA 98   57   Auctions in SA
Canberra 72   30 All ACT 72   30   Auctions in ACT
Darwin 1   0 All NT 1   0   Auctions in NT
Hobart 2   0 All TAS 3   0   Auctions in TAS

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

Real Estate Realities

Tartak Family list Airlie Beach Mandalay House 

In the wake of the pandemic, Queensland’s high-end market has enjoyed a surge in demand from individuals who are looking for holiday rentals or want to move. Over the last 6 months, Mr Beale from Ray White Whitsunday’s, has seen more than 15 properties being sold for more than $1million, previously only five properties were sold in that range.

This surge has recently pushed the market into top gear, seeing the sale of Noosa’s Sunshine Beach the Webb House for record price of $34 million. Just days later, the Tartak Family put one of Queensland’s ultimate luxury getaway homes “the Mandalay house” on the market for $20 million.

This 4,200 square metre Mediterranean-style trophy home, located at Airlie Beach, was purchased for $14 million by the Tartak family in 2013. Recently, the home was substantially upgraded, and is marketed as a high-end rental for $20,000 a night.

Christie’s International’s Ken Jacobs has listed the home on behalf of the Tartak family with Ray White Whitsunday’s Mark Beale. As they would like to see another family enjoy the property, due to the Tartaks spending more time on business interests in Sydney.

This seven-bedroom home has a porte cochere entry and a marble staircase that led into the bedrooms, that boast a private siting room and ensuite. The separate reception room, living area and library overlook the coral sea and resort-style swimming pool. This luxury home is complete with a boat shed, two jet-ski docks, a marina, and a private helipad.
More ...

Black Dragon's Words for the Week

“Believe you can and you’re halfway there.

~ Theodore Roosevelt 

SQM Research Housing Indexes

SQM Research Weekly Asking Prices Index


SQM Research Weekly Asking Prices Index
Week ending
22 Jun 2021                                
Asking Price
Chg on
 prev wk
  Rolling month
% chg
12 mth
% chg
Sydney All Houses 1,506.7 -10.8  -0.1%  9.1% 
All Units 664.2 1.0  -0.5%  -4.4% 
Melbourne All Houses 1,064.2 0.4  0.8%  3.4% 
All Units 566.4 1.8  0.0%  0.0% 
Brisbane All Houses 685.6 4.3  1.7%  6.8% 
All Units 388.5 0.0  0.5%  2.9% 
Perth All Houses 675.6 1.4  1.2%  0.7% 
All Units 389.9 0.6  0.2%  2.0% 
Adelaide All Houses 554.5 4.9  1.7%  5.0% 
All Units 328.3 1.1  0.7%  6.0% 
Canberra All Houses 786.0 8.9  1.7%  -5.4% 
All Units 484.3 2.9  -0.1%  9.6% 
Darwin All Houses 596.7 -0.7  -1.4%  3.1% 
All Units 390.5 2.0  -1.2%  12.8% 
Hobart All Houses 634.6 -6.8  -3.6%  11.4% 
All Units 420.2 1.8  1.1%  15.4% 
National All Houses 679.9 -2.4  0.4%  13.3% 
All Units 422.7 1.2  1.5%  7.8% 
Cap City Average All Houses 1,047.1 -4.4  0.6%  5.6% 
All Units 563.9 2.6  0.1%  -1.4% 

Next update: 29 Jun 2021

SQM Research Weekly Rents Index

SQM Research Weekly Rents Index
Week ending
20 Jun 2021                                   
 Rent Chg on
     prev wk
Rolling month
% chg
12 mth
% chg
Sydney All Houses 665.0 2.0  0.4%  3.6% 
All Units 452.7 0.3  -0.2%  -4.7% 
Melbourne All Houses 510.7 3.3  1.0%  -3.9% 
All Units 361.3 0.7  0.0%  -10.5% 
Brisbane All Houses 501.1 3.9  1.5%  7.7% 
All Units 388.7 0.3  0.0%  2.6% 
Perth All Houses 523.1 -1.1  0.2%  16.1% 
All Units 398.5 1.5  0.3%  13.9% 
Adelaide All Houses 443.1 -0.1  1.6%  8.0% 
All Units 331.6 2.4  -0.6%  4.3% 
Canberra All Houses 707.5 11.5  2.6%  13.5% 
All Units 504.7 6.3  3.3%  8.3% 
Darwin All Houses 611.7 -3.7  1.2%  27.7% 
All Units 436.6 9.4  3.2%  22.5% 
Hobart All Houses 479.9 0.1  2.3%  10.5% 
All Units 425.8 -2.8  1.6%  13.2% 
National All Houses 509.0 -1.0  0.0% 14.4% 
All Units 398.0 2.0  0.5%  6.1% 
Cap City Average All Houses 562.0 3.0  1.3%  4.5% 
All Units 412.0 2.0  0.2%  -2.8% 

Next update: 28 Jun 2021

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