Studio Apartment

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A North Sydney studio apartment has sold for $390,000 at recent auction.
The unit, at 13/106 High Street, features an L-shaped layout that incorporates a bed area and kitchen. 
It has a single bathroom, a security intercom, lift access, gas hot water, and a shared laundry.
It previously traded in 1985, when it sold for for $39,500.
The median unit price in North Sydney is $802,500.
John McManus and Hamish Gibbs, from McGrath Willoughby, listed the property.
 
 
 
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North Sydney studio sells for under $400,000

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Sydney's cheapest auction sale was $410,000 for a Newtown studio, one of just four reported weekend sales under $500,000.
The purchaser got a 39 square metre second floor corner position (pictured) overlooking King Street.
It was recently offered as a $430 a week rental, putting the sale at a 5.45 percent gross rental yield.
It had traded at $345,000 in 2014, at a slightly higher 5.8 percent yield. 
There were just three other reported sales where buyers got something in the $400,000s.
There was a two bedroom $446,000 Merrylands unit sold through Starr Partners. It last sold in 1999 at $215,000, so took around two decades to double in price.
A two bedroom Bankstown townhouse sold for $455,000.
There was a pre-auction $460,000 sale of a Potts Point studio, last sold at $36,500 in 1984.
The 27 square metre studio had city skyline views from its fifth floor Wylde Street vantage point.
The price guide had been $400,000 by McGrath agent Matthew Allerton.
A $382,000 Pemulwuy unit failed to sell.
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Newtown studio is weekend's cheapest sale

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Millennials seeking to get a foot on the property ladder aren't interested in studio apartments, suggests a recent ING survey.
ING surveyed 100 millennials from across the country, and nearly half had their eye on a three or more bedroom home as their target.
Naturally, 50 percent of the people asked said the home they would 'most like' would be a three or more bedroom house, but 42 percent suggested that is the home they are most likely going to buy.
Only three respondents said a studio apartment would be their ideal purchase, as well as the most likely to buy. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/17/millenials-studio.jpg" target="_blank">to enlarge.</a>
<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/2018/5/17/millenials-studio.jpg" alt="">
Only seven percent want a one bedroom apartment.
The ING Millennial Homeownership Report found that 64 percent of young Australians (aged between 22-37 years old) prefer to plan ahead rather than live life off the cuff.
More than a third (38 percent) are currently saving for a house to buy in the next three years.
Despite their aspirations and good intentions to owning a property, 61 percent of millennials aren’t sure how much they need to save for a home deposit, including 40% of those that are currently saving.
For those that say they think they know how much they need, $76,000 is considered the average deposit amount to purchase their first home.
Melanie Evans, ING Australia’s head of retail banking, says their research shows that millennials are living for today, but are also planning for tomorrow.
“Millennials are often unfairly pictured as only living in the here and now, but they want what generations before them wanted; the security and financial stability that owning a home offers.
“Their homeownership aspirations are also rooted in traditional values like opting for a family home, being near green areas and family."
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Millennial's seeking to buy property not interested in studios: ING

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The Sydney Theatre Company artistic director Kip Williams has sold his one bedroom Potts Point apartment for more than $750,000.
It sold through his older brother Evan Williams at Ray White Double Bay.
The one bedroom unit sold to a local buyer in under a week.
Kip Williams bought his first home in 2012 for $405,000, when he’d just started at STC.
The apartment backs onto Lannkelly Place where Kip is a regular at the snug laneway cafe called Room 10. 
Evan Williams marketed the top floor apartment with Parisian flair "for a premium price of $18,000 per square metre”. 
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STC's Kip Williams sells Potts Point apartment 

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A student-only apartment at Prahran - listed with a disclosed $65,000 reserve - sold at weekend auction for $113,000.
But the vendor had paid $219,500 in 2009 when it was bought from Urban Studio Axiom.  
Located at <a href="https://www.realestate.com.au/property-apartment-vic-prahran-124859358" target="_blank">G01/8 Porter Street</a>, the tiny property has its own garden and courtyard.
It is leased for another 12 months for $245 per week - its sale price reflecting an 11 rental yield.
The apartment was marketed as suitable for a couple or individual.
Prahran station is in close proximity as well as tram lines and eateries and bars.
The property was offered through Purplebricks agent Andrew Leung who took a $65,000 opening bid.
There were six bidders.
It is not the first resale at huge discount to prior sale price in the block.
There was a $100,000 sale last March having previously sold at $179,500 in 2009, with banks having a clear aversion to student housing lending.
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Double the reserve, but half its prior selling price in Prahran

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Bondi Rescue star Trent 'Singlet' Falson has spent $770,000 on an apartment - just 800 metres from the iconic beach.
The one bedroom apartment comes with a landscaped courtyard and barbecue area perfect to entertain his many mates.
It's set in the tightly held 2000 built Hallmark block of six.
Mark Horn at Little Real Estate Central sold the home after offering a buyers' guide of $780,000.
Falson was born and raised in Bondi, surfing the waves of the north end from the age of five.  
Singlets joined the North Bondi Surf Club as a nipper at 10, then moved up the ranks to the senior club, where he did patrols and trained at an elite national level as a specialist board paddler.
After winning a national board paddling title at the age of 16, Singlets became a lifeguard for Waverley Council in 1997. 
The single father of two had a break to give the corporate world a go, working in jobs varying from pharmaceutical sales to aircraft refuelling.
Falson returned to lifeguarding after a 12 year break three years ago.
"I discovered there are some horrible jobs out there and doing what you love is more valuable than money.
"I missed the job and the team," he said on his return to the top rating show.
"It’s hard to explain what a tightknit team we are and the camaraderie we share.
"I feel lifeguarding is where my strengths lie and where my passion is and I couldn’t satisfy that passion anywhere else."
Trent made headlines at the start of last year when he and co-star Anthony 'Harries' Carroll saved Hugh Jackman's son Oscar. 
Other Bondi rescue boys have homes within the neighbourhood, the most impressive being Dean 'Deano' Gladstone, who traded Randwick for Bondi Junction in 2015.
He spent $2.25 million on a four bedroom freestanding family home, after he sold in Randwick for $2.21 million.
The Logie Award-winning Channel Ten show began in 2006 and has aired 136 episodes across its 12 seasons.
Bondi Rescue won five Logie's for Most Popular Factual Program.
This article first appeared in the Daily Telegraph.
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