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SQM Research Newsletter - Tuesday 22 October 2019
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Black Dragon's
Words for the Week

 
“Excellence is an art won by training and habituation ... We are what we repeatedly do. Excellence, then, is not an act but a habit.”

Aristotle
Real Estate Realities 

Living the high-life will cost you

This sprawling apartment in high-rise Sydney residential development hasn't been built yet but it has smashed sales records after a local buyer snapped it up for $140m.
The penthouse of One Sydney Harbour, along with the accompanying sub-penthouse apartment, recently sold for more than $140m, making it Australia’s most expensive apartment sale. The Lendlease building is part of Sydney’s Barangaroo development and is expected to be completed in 2020. Take a peek inside into its expected views from the Renzo Piano designed building 
here.
But that’s by no means the world’s most expensive property. In the US, a Los Angeles mansion, which sits above the Bel-Air Country Club, has recently been listed for US$225m ($328m), making it the highest listing price in the US. According to 
reports, the mansion is owned by financier and philanthropist George Winnick who bought the home 19 years ago for US$94m, at the time the highest-priced residential sale in the country.
The estate was built in 1938 by Hilda Weber, the widow of a wealthy midwestern bottle manufacturer. In 1948, she put the mansion up for sale for US$1.5m and two years later, Conrad Hilton, founder of the Hilton chain of hotels, bought it for US$225,000. 

Read More...

DISTRESSED PROPERTY OF THE WEEK
 

                1 Elizabeth Street, North Perth 6006


Located in the heart of North Perth and a short stroll from the city, your family will want for nothing in this renovated brick home. The house has been heavily discounted to $959,000 down from an initial asking price between $1,099,000 to $1,149,000 in June 2019.

This four-bedroom North Perth residence offers plentiful room in this convenient, established suburb 3km north of Perth’s CBD. The area features many character solid brick homes built from the early 1900s, many of which are now undergoing extensive renovations, drawing property buyers to the area. The suburb is home to various small shops and cafes.

Things are looking up too in the North Perth postcode. Reflecting a rebound in the property market,
asking house prices are up 10.4% over the to 22 October and have risen a healthy 3.4% over the quarter to $824,000. Total property listings have gravitated down in 2019 from 2018, helping to underpin house prices.The vacancy rate is just 2.3% down from around 7% in 2016. Weekly asking rents too are up a very healthy 17% over the year to 20 October.

You can scan
recent property sales in the area on SQM’s website. This property could appeal to a buyer, seeking proximity to Perth’s cultural and lifestyle factors or a landlord keen to build their property portfolio. 
 

Keep monitoring this market’s growth at SQM Research’s free property data at SQM’s website. Also consider the Property Valuation product for more in-depth data and property price estimator.

SQM RATINGS NEWSLETTER

Did you know that SQM Research doesn’t only provide residential property data, we also provide research on all asset classes.  We have data and analytics on over 10,000 funds in Australia.  To find out more and to subscribe to our Fund Data tool click here.

If you would like to subscribe to our Ratings Newsletter, click here.  The newsletter provides regular updates on all funds including ratings changes and media releases, and valuable Insights into the point of view of our analysts on a variety of ratings research related topics.  And it’s completely free!
 

SQM RESEARCH HOUSING INDEXES

 
SQM Research Weekly Asking Prices Index
Week ending
22 Oct 2019
Asking Price Chg on
prev wk
Rolling month
% chg
12 mth
% chg
Sydney All Houses                     1,279.0 -19.7  -1.6%  -2.0% 
All Units 700.9 3.4  0.8%  -1.1% 
Melbourne All Houses 952.9 2.8  -0.2%  -0.4% 
All Units 544.9 -0.3  -0.3%  -1.3% 
Brisbane All Houses 630.7 1.3  0.8%  2.6% 
All Units 372.1 0.6  0.3%  -2.4% 
Perth All Houses 652.9 1.5  0.5%  -1.9% 
All Units 377.5 -0.4  -0.3%  -2.4% 
Adelaide All Houses 518.6 -1.4  0.6%  1.5% 
All Units 301.2 1.5  1.1%  -0.5% 
Canberra All Houses 802.4 1.1  -1.4%  -3.1% 
All Units 435.3 -1.9  -0.5%  2.4% 
Darwin All Houses 588.4 -1.8  0.1%  1.0% 
All Units 324.2 -8.2  -7.2%  -12.7% 
Hobart All Houses 526.2 2.4  0.9%  6.3% 
All Units 342.2 3.5  4.9%  7.7% 
National All Houses 577.6 0.8  0.9%  1.1% 
All Units 381.9 2.6  0.5%  1.8% 
Cap City Average All Houses 924.7 -8.6  -1.3%  -1.4% 
All Units  568.7 4.1  0.3%  -1.2% 

Next update: 29 Oct 2019

 

SQM Research Weekly Rents Index
Week ending
20 Oct 2019
Rent Chg on
prev wk
Rolling month
% chg
12 mth
% chg
Sydney All Houses                           673.3          1.7  -0.6%  -6.4% 
All Units 497.2 0.8  0.1%  -3.0% 
Melbourne All Houses 528.5 1.5  0.6%  0.8% 
All Units 409.5 -1.5  -1.6%  1.0% 
Brisbane All Houses 461.7 -0.7  -0.9%  2.3% 
All Units 378.1 -1.1  -0.1%  2.2% 
Perth All Houses 439.5 -3.5  -0.7%  3.6% 
All Units 336.4 -0.4  -0.4%  4.6% 
Adelaide All Houses 397.3 0.7  -0.5%  2.8% 
All Units 310.3 0.7  -0.7%  4.3% 
Canberra All Houses 613.1 -2.1  1.4%  -2.6% 
All Units 463.0 1.0  0.9%  4.2% 
Darwin All Houses 517.5 -1.5  -0.0%  3.5% 
All Units 377.3 -4.3  -0.5%  -4.3% 
Hobart All Houses 433.7 -1.7  -1.0%  1.5% 
All Units 400.8 -2.8  -2.3%  9.6% 
National All Houses 444.0 2.0  0.5%  0.5% 
All Units 364.0 1.0  -1.1%  2.2% 
Cap City Average All Houses 544.0 0.0 -0.4%  -2.0% 
All Units 435.0 0.0 -0.2%  -0.5% 

Next update: 28 Oct 2019

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