House Sales

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<div>As a mainly passive investor in equities these days I must admit that I don't pay a huge amount of attention to the daily machinations of the share markets.</div>
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<div>That said, judging from the number of angst-ridden articles about why shares must be the way to go and definitely not property I'd say it's a fair assumption that Aussie share markets are now tanking again.</div>
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<div>And taking a look at the charts, yep, pretty much.</div>
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<div>Having briefly threatened to get back up to 6,000 after nearly eight years of trying the ASX 200 (XJO) is now deflating miserably again, all the way back down 5356.50.</div>
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<div>The technicals are looking rather shocking too.</div>
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<strong><span style="text-decoration: underline;">Property markets divergent</span></strong><br><br><span>Meanwhile, what's been happening in property markets since 2007?</span><br><br><div>The Reserve Bank of Australia (RBA) released its latest <a href="https://www.rba.gov.au/chart-pack/index" target="_blank">Chart Packs</a> during the first week of August recording the latest housing prices.</div>
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<div>As I expected, beyond the financial crisis the rising tide of household debt could no longer lift all boats, and so far capital growth has been strongest in the two largest capital cities, but considerably weaker elsewhere. </div>
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<div>Drivers of markets going forward will include jobs growth, population growth, real wages growth and foreign capital, among a number of other factors. </div>
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<div><span>Predictably the Sydney property market has been the clear standout, with house prices in round numbers having appreciated by <span>~</span>$400,000 (from <span>~</span>$550,000 to <span>~</span>$950,000), or more than a <span>~</span>70 per cent increase. </span></div>
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<div>The line denoting Sydney would look far steeper if it wasn't for the fact the RBA switched from using a linear scale to a log scale at the end of the first quarter.</div>
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<div>At the other end of the scale, Adelaide's median house price has appreciated by around <span>~</span>$100,000 from <span>~</span>$350,000 to <span>~</span>$450,000, or close to a <span>~</span>30 per cent increase.</div>
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<div>Regional house prices in aggregate showed the lowest price growth of under $100,000, the chart following a very similar trajectory to that of Adelaide. </div>
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<div>In Brisbane median house prices are below their 2010 peak according to <em>CoreLogic-RP Data</em>(albeit only very marginally) but are now rising. </div>
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<div><span>For my money, Brisbane offers the best "value" of any of the capital city markets, though investors need to be particularly careful about what they are buying, for the reasons well documented here previously. </span></div>
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<div><span><span>The trendline below which records investor loans on a 12mMA basis shows that Queensland investor lending in aggregate is now tracking at its highest level since April 2008 and rising.</span></span></div>
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<div><span>Click to enlarge</span></div>
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<div><strong><span style="text-decoration: underline;">Shares and property</span></strong></div>
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<div>I wouldn't get too bogged down in the whole shares versus property debate, given that these are two fundamentally very different asset classes, both of which have their place in an investment portfolio. </div>
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<div>For average investors equities are often best viewed primarily as an income investment (just as well given that there has been no capital growth for close to a decade). </div>
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<div>A fundie would justly argue that through skilful stock selection they can beat the market consistently, thereby justifying their fees. </div>
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<div>That's fair enough.</div>
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<div>The same is true of property markets, really. </div>
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<div>Median house price growth across Australia has been fairly mixed in recent years, with Adelaide, Hobart, Perth and Brisbane recording almost no nominal price growth at all since their respective 2010 peaks.</div>
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<div>That said, property investors can and do aim to beat median house price growth with quality asset selection.</div>
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<div>I can think of at least a hundred ways in which it's possible to steal an edge on imperfect property markets, one of which is alluded to above - buying counter-cyclically. </div>
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<div>Another way to manufacture growth is through renovation.</div>
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<div>Over the long term a few other tactics might include buying property which is:</div>
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<div>-located within a 15 minute commute of the centre a large and growing capital city;</div>
<div>-in a land-locked suburb;</div>
<div>-within a 5 minute walk to a hard rail link or hub;</div>
<div>-comprised of a high land value; and</div>
<div>-an asset type which is in exceptionally high demand but has scarcity value.</div>
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<div>There are a great many others, of course. </div>
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<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Steal an edge on imperfect property markets: Pete Wargent

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<p>The 7 Byron Street, Moonee Ponds offering, a coveted Poet’s Corner address attracted five bidders at its weekend auction.</p>
<p>The unrenovated Federation Queen Anne-style house was offered by Jellis Craig Kensington’s John Morello who secured $2.05 million.</p>
<p>He said <a href="https://www.realestate.com.au/property-house-vic-moonee+ponds-126503094" target="_blank">the four-bedroom home</a> fetched $270,000 more than its reserve.</p>
<p>He said the family that bought the house would likely need to spend another $350,000 to $650,000 renovating.</p>
<p><span>The house easily sailed past its quoted price guidance of $1.65 million to $1.75 million, announced on the market at $1.78 million.</span></p>
<p>“There’s a strong heritage overlay (in Poet’s Corner), so you’re not going to see development taking place,” he told The Herald Sun.</p>
<p><span>The property had been with the same family since the 1960s.</span></p>
<p><span>Saturday was only the second time it had been sold in 103 years.</span></p>
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Poet's Corner, Moonee Ponds auction sale

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<p>A two bedroom Holt house has sold for $290,000 making it Canberra’s cheapest sale at last weekend's auction.</p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-house-act-holt-126317694" target="_blank">19 Goddard Crescent</a>, the property is in original condition.</p>
<p>It features new carpet in the lounge and bedrooms as well as a two way bathroom/ensuite in the first bedroom.</p>
<p>There are also built-in robes in both bedrooms.</p>
<p>The front and rear courtyards can be accessed via a sliding door along with the single carport from the lounge room.</p>
<p>Shops, cafes and city are all within easy access of the property.</p>
<p>The property was offered through One Agency agent Michael Potter.</p>
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Two bedroom Holt house sold for $290,000

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<p>A four bedroom Bedford Park house has sold for $420,000 making it Adelaide’s cheapest weekend auction sale.</p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-house-sa-bedford+park-126342402" target="_blank">16 Franklin Avenue</a>, the 1000 sqm property is a minute’s walk to amenities.</p>
<p>It features three bedrooms and one bathroom with the potential to create an extra one or two additional bedrooms.</p>
<p>The roof has been replaced along with new carpet and paintwork although potential for further renovations are available.</p>
<p>Other features includes off-street parking and a shed.</p>
<p>The property was offered through Scott Robinson of Ray White.</p>
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Four bedroom Bedford Park house sold for $420,00

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<p>A four bedroom Marsden house has sold for $320,000 making it Brisbane’s cheapest weekend auction sale.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-qld-marsden-126243610" target="_blank">6 Yale Street</a>, the 1028 sqm property has potentials after renovations, sub-division or even after building a granny flat.</p>
<p>Built in 1985 it last sold in 2003 for $109,500.</p>
<p>It features four bedrooms and a new kitchen with a large alfresco area as well as rear pergola/double car port area.</p>
<p>The median price of a house in Marsden is $360,000, a slight increase compared to last year’s median house price of $357,850.</p>
<p>Other features includes a water tank and free-standing bar.</p>
<p>The property was offered through LJ Hooker agent Tony Hall.</p>
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Four bedroom Marsden house sold for $320,000

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<p>A three bedroom Para Hills house has sold for $273,000 making it Adelaide’s cheapest weekend auction sale.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-sa-para+hills-126208850" target="_blank">20 Frank Street</a>, the 696 sqm property is ideal for an investor, first home buyer or developer.</p>
<p>Built in 1962 it last sold for $291,315 in 2011.</p>
<p>It features three bedrooms with built-in robes as well as a formal lounge and dining area.</p>
<p>The bathroom has been partially updated while the kitchen is fully renovated with gas appliances.</p>
<p>Currently the property is tenanted on a periodic lease for $290 per week.</p>
<p>Other features includes a carport as well as a large rear shed.</p>
<p>The property was offered through Max de Meyrick of Weeks &amp; Macklin Real Estate.</p>
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Small loss as three bedroom Para Hills house sold for $273,000

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<p>A renovated three bedroom MacGregor house sold for $420,000 placing it among Canberra’s cheapest recent auction sale.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-act-macgregor-126031114">10 Lipscomb Place</a>, the 707 sqm property is situated in a quiet cul-de-sac block.</p>
<p>Built in 1972 the property was last sold in 2004 for $253,000.</p>
<p>It features a front porch with views of the garden as well as an open plan living and dining area.</p>
<p>There is also a large master bedroom with four door ceiling-to-floor sliding door robe as well as two additional bedrooms with new mirrored robes.</p>
<p>The bathroom has also been renovated and features a new shower screen and wall tiling.</p>
<p>The property was offered through Ray White agent Stephanie Hendry.</p>
<p>A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-macgregor-126121718" target="_blank">8 Aaron Place</a>, MacGregor (below) was recently sold for $600,000.</p>
<p>Built in 1975 the 886 sqm property last sold for $224,000 in 2002.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/14/8%20Aaron%20Place.jpg" alt=""></p>
<p>A four bedroom house at <a href="https://www.realestate.com.au/property-house-act-macgregor-125920958" target="_blank">5 Gaggin Place</a>, MacGregor (below) has been listed for $599,000 plus.</p>
<p>Built in 1973 the 1034 sqm property last sold in 2011 for $432,000.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/14/5%20Gaggin%20Place.jpg" alt=""></p>
<p>A three bedroom house at <a href="https://www.realestate.com.au/property-house-act-macgregor-126290202" target="_blank">52 Dagmar Berne Street</a>, MacGregor (below) has been listed for $425,000 plus.</p>
<p>Built in 2008 the 485 sqm property's land was sold in 2007 for $320,000.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/14/52%20Dagmar%20Berne%20Street.jpg" alt=""></p>
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Renovated three bedroom MacGregor house sold for $420,000

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<p>Car dealer Phil McCarroll has spent $6 million in Palm Beach to buy the weekender of investment banker Paul Espie and his wife Roslyn.</p>
<p>Craboon, the 1920s stone cottage with Howard Tanner extension, was first listed in 2015 with $6.5 million plus hopes.</p>
<p>The weekender sits on the Pacific Road dress circle which triggered his naming his advisory company, Pacific Road Capital.</p>
<p>The Tanner designed family pavilion with three bedrooms is linked by a covered walkway to the renovated sandstone cottage that has a master suite and a study.</p>
<p>The Darling Point based couple are spending more time in the Hunter where they bought a grazing property in Dungog in 2012.</p>
<p>McCarroll owns at nearby Duffys Forest where he bought his acreage in 2009 for $5.1 million.</p>
<p>The Espies listed their weekender through LJ Hooker’s David Edwards and David Mackay.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/08/Palm%20Beach-2.jpg" alt=""></p>
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Car dealer Phil McCarroll pays $6 million for Palm Beach property

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<p>A 1910 Mount Barker house sold for $320,000 at weekend auction, making it Adelaide’s cheapest sale.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-sa-mount+barker-126003610" target="_blank">20 Albert Road</a>, the three bedroom home on the 1200 sqm block has many original features including pressed tin facade.</p>
<p>It also has pressed tin ceilings.</p>
<p>There is an open fire place in each room.</p>
<p>The property was offered through First National Real Estate agent Alex Reynolds.</p>
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Original 1910 Mount Barker house sold for $320,000

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<p>Children's entertainer Sam Moran, best known as the Yellow Wiggle, has listed his Rozelle home he shares with wife Lyn.</p>
<p>Moran paid $955,000 for the <a href="https://www.realestate.com.au/property-house-nsw-rozelle-126290238" target="_blank">1880s worker's cottage</a> in 2012, just after he was dumped by The Wiggles due to Greg Page returning.</p>
<p>Page retired from the role in 2006 due to ill health which resulted in Moran taking over the role the following year.</p>
<p>He had acted as his understudy and filled in for Page over 150 times for four years prior to taking the Yellow Wiggle skivvy on a permanent basis.</p>
<p>The freestanding cottage near O'Connor Reserve has seen a face lift during Sam and Lyn's ownership including a striking yellow door, more than a nod to his old employers.</p>
<p>The home has three bedrooms, one bathroom, two fireplaces and a large deck with district views.</p>
<p>Cobden &amp; Hayson agents Peter Cobden and Stephanie Lees are marketing the home for a September 23 auction.</p>
<p>Moran began performing with The Wiggles in 1998 having appeared in Haste to the Wedding and "Evie and the Birdman, both written by John Field, The Wiggles songwriter and brother of Blue Wiggle Anthony Field.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/04/176%20Evans%20Street-2.jpg" alt=""></p>
<p>It was hosting and touring with the Dorothy the Dinosaur Show that he met future wife Lyn, a dancer for The Wiggles who was playing Dorothy the Dinosaur at the time. The couple had their first child Eloise in 2010.</p>
<p>Moran played Professor Singalottasonga and Dapper Dave in the group's TV series.</p>
<p>More recently Moran launched TV show Play Along with Sam, an educational music block programme.</p>
<p>The album went to #1 in Australia on the iTunes Children's Music Charts.</p>
<p>He has recently wrapped up touring the show on the stage.</p>
<p>Moran will be hoping for a result similar to the current Yellow Wiggle Emma Watkins and her husband, Purple Wiggle Lachlan Gillespie.</p>
<p>They recently sold their 1896 converted English-style manor apartment in Wollstonecraft for $2.05 million, having paid $1,395,000 in 2014.</p>
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