Terrace Sale

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The townhouse was long viewed as lesser property choice.
But townhouses in our inner and middle ring suburbs are now categorised as a smart lifestyle choice and making good investments.
They fall between the increasingly prevalent high rise apartments and detached homes on the larger land holding.
Townhouses are the increasing the preferred accommodation for a several competing demographic groups, struggling between the choice of freestanding and high rise.
There was an extraordinary result last weekend when the Glebe townhouse of ABC television personality Leigh Sales went to auction.
It secured $1,705,000 when auctioned by BresicWhitney agent Andrew Liddell.
The Jarocin Avenue property first sold in 1996 for $420,000, reflecting 7.5% annual growth over the near two decade period.
The two level corner property, with two car spaces, last sold in 2009 at $955,000, so the price reflected 9% annual growth over their six years. There had been no sales in the tightly held complex of 10 in the interim.
Leigh Sales, the 7.30 presenter, and her husband, animator Phil Willis, had hoped their townhouse would fetch more than $1.3 million, with plans to upsize to something nearby with more space for their now family of four. 
It sold to unit dwellers from Pyrmont seeking a new home for their young family.
The property attracted 10 registered bidders with around six putting their hands up throughout the auction. 
Many attendees walked away shaking their heads, the price of the 196 sqm townhouse pushed well beyond all expectations given the diversity of the buyers.
There were numerous kinds of buyers in the crowd - the most obvious the family with children at one of the nearby tertiary education campuses. The kids want to move closer to the city, and so too did the parents, so this place was perfect. 
Baby boomer empty nesters looking to downsize were keen bidders. There were those seeking the courtyard space for gardening, or their pet or just for the joy of outdoor space.
Buyers priced out of existing detached homes.
Investors too who viewed the townhouse as a solid low maintenance investments within walking distance to shops, transport and restaurants, all highly sort after by tenants.
There no doubt were also been apartment weary investors.
Townhouses are appealing not just for affordability, amenity and liveability.
There is a sense of individuality about a townhouse that you don't get from high rise apartments.
These properties also have good underpinning land value, as this townhouse sits on a 1500 sqm block of land, yet only has 10 abodes on the block.
The nationwide trend sees the proportion of people living in detached houses falling. Down by one percentage point between 2006 and 2011, with a shift towards more people living in units and townhouses, according to latest ABS census data. 
Of Australia's private dwellings, 75.6% were separate houses, compared with 76.6% in the 2006 census. Meanwhile the number of semi-detached, terraced house or townhouse rose from 9.2% to 9.9%.
Flats too rose from 13.1% of dwellings to 13.6%, and will no doubt show a bigger rise in the next census, I suspect because the development industry sees greater gains from apartment construction, rather than the more costly townhouse option.
In the 2011 NSW census data, some 69.5% were separate houses, 10.7% were semi-detached, row or terrace houses and townhouses with a rising rampant 18.8% were flats.
Sadly there just isn't the required diversity of product in new Sydney housing developments, which ends up placing higher price pressures on what's fast becoming the townhouse sweet spot. 
This article was first published in the Saturday Daily Telegraph.
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Townhouses becoming the housing sweet spot

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Former 2BL breakfast presenter, and self-confessed 'numbers nerd', Adam Spencer and his wife, Mel Mossman recently sold their Newtown terrace for $1,410,000 through Nick Moraitis of LJ Hooker.
It came with original turn of the century brick outhouse on its 145 sqm block.
The two storey terrace, that has three bedrooms and one internal bathroom, cost $590,000 in 2002, so he gained 6.4 percent annual price growth.
Since 2005 Spencer has owned a Central Coast property at Copacabana which cost $730,000.
Spencer, a father of two, has written two books, titled World Of Numbers and Big Book Of Numbers.
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Numbers right for Adam Spencer's Newtown sale

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The cardiac surgeon David Marshman and his wife, artist Melinda have bought in Paddington for $4,215,000.
It was the terrace of UBS’s equity capital markets banker John Spencer and his wife Kate who are off to their $4.5 million Woollahra purchase.
Their new Hargrave Street acquisition (above) has four bedrooms, three bathrooms, a 1,000 bottle wine cellar and a parterre garden.
The Marshman's sold their Surry Hills warehouse last weekend for a residential record of $7.95 million.
Spread across three levels, the 1850 Marshall Street warehouse cost $5.71 million in 2012 when bought from sculptor Gaby Porter.
The Hare &amp; Klein decor fitted 780 sqm warehouse had a price guide of $7 million.
The figurative painter has an exhibition set for October 8 at the Robin Gibson Gallery.
This article was first published in the Saturday Daily Telegraph.
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Artist Melinda Marshman buys Paddington terrace

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Fresh from her European holiday, bubbly television personality Emma Freedman and her relatively new beau, finance professional Charlie Rundle have bought a home together.
They've spent $2.19 million on a three bedroom home on one of Paddington's leafiest streets.
Previously traded for $1.3 million in 2010, the modernised townhouse style abode came with over $300,000 of renovations and extensions by the prior owner.
The polished concrete and sky-lit living space adjoins the outdoor entertaining area through floor to ceiling glass and a bathroom opens out to a private central courtyard.
The slim four metre wide terrace sits on 126 sqm and comprises 118 sqm of internal living space.
There had been price guidance of $2.1 million. Both of the couple's names are on the title as joint tenants, possibly the first foray into the Sydney property market for both of them.
Charlie and Emma's relationship became public knowledge in April last year when Emma posted a picture on Instagram.
It appeared the two had been an item since at least January however, as they posed for a picture on holiday to the snowfields in Japan.
Emma had split from long-term boyfriend, producer and cameraman Tim Myers, in mid 2014. 
Emma, the daughter of five-time Melbourne Cup winner Lee Freedman, made her name as a regular contributor to the Nine Network's coverage of the Melbourne Spring Racing Carnival for many years.
In 2010, Emma joined Weekend Today as a weather presenter, then was also a regular sports presenter on the Nine Network's Wide World of Spots and the weather presenter on Weekend Today.
She was made redundant from the network due to cost-cutting measures in 2014 but rejoined in March this year.
In 2015 Freedman was the first female celebrity since 2007 to win Dancing with the Stars after being partnered with Aric Yegudkin.
She had been racing ambassador at David Jones for nine years before parting ways with the department store chain in July.
Emma currently co-hosts National Nights on the Hit Network, and has been filling in on the Grill Team on Triple M Sydney a few times of late.
It is widely expected that she will be joining Triple M Sydney's stars in 2017, with the announcement this week she will start at Triple M's Grill Team from next week.
This article was first published in the Saturday Daily Telegraph.
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Emma Freedman and Charlie Rundle buy Paddo terrace 

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Sydney’s skinniest terrace on the market has finally found a new owner, after it sold after auction.
The Terry Street home stands at not quite three metres wide.
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The property sold at an undisclosed price a few hours after passing in at weekend auction at just over $850,000. It last sold at $289,000 in 2001.
Wiseberry Enmore agent David Cradock sold the home at 31 Terry which is a two-storey terrace with a 2.85 metre width, a land size of 38 square metres and an internal size of 48 square metres.
<img src="/images/2016/09/29/Surryinterior.jpg" alt="" width="487" height="286">
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It's neighbour, which is identical in size, sold for $965,000 to a Chinese investor mid last year.
The weekend price guide was $850,000 to $900,000.
The 31 Terry Street was listed mid last year too trying to match or better that $965,000 result but was passed in at $805,000.
 
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Skinny Surry Hills terrace sells

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Terence Isaac, head of finance at global tech company Sabre Corporation, has secure $1.9 million in Redfern.
The 87 William St property sold prior to weekend auction, at just $100,000 above its initial price guide.
The three-bedroom house was owned with his partner Peter Clifton, who is a manager at Telstra. They paid $660,000 in 2008 and refurbished in 2009.
They have bought a Yarramalong property on the Central Coast.
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Subdued Redfern terrace sale

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The cute 1850s Georgian Paddington home of creative director Seamus Dinnigan was sold in the countdown to its recent auction.
There's just 70 square metres space throughout the rare freestanding terrace which came with a $1.6 million to $1.8 million price guide through Will Manning at McGrath. 
It was marketed as a Cotswolds cottage style residence, just off Glenmore Road near Oxford Street.
Dinnigan, the brother of designer, Collette Dinnigan bought the Mary Place home in 2015 for $1.08 million from gallery owner Evan Hughes and his lawyer wife, Kate.
Dinnigan is creative director at Collette Dinnigan's office, as well as helping out on the design styling of his sister's many homes.
He also co-produced her first coffee table book, Obsessive Creative.
Paddington's median house price for two bedders sits at $1.6 million, according to CoreLogic.
The 1850s terrace dates to around the time the homes were built to accomodate those who worked at the nearby Victoria Barracks. It was before Paddington developed as a working-class area during the Victorian era when between 1860 and 1890, about 3800 terrace houses were built to give Paddington its charming, unique character.
Of course it went into decline after World War I, fell into a slum during the 1930s and pretty much remained that way until the bohemia push descended during the 1960s and turned renovating terraces into almost an art form.
This article first appeared in the Sunday Telegraph.
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Georgian Paddington home of Seamus Dinnigan sold

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Airtasker CEO Timothy Fung has traded up in Woollahra.
He's spent $2,755,000 on a reinvented 1890s Victorian terrace, newly built from the ground up to a European design.
The three bedroom, two bathroom home last traded for $1.6 million in 2013. The third bedroom spills open to a rear roof deck.
Ballard Property agent Mark Lowe sold the home in conjunction with Mark Daley at BradfieldCleary.
Fung has owned an apartment in the suburb since 2009, when he paid $529,000 for the two bedder in an art deco block of 12.
He failed to sell the apartment and has moved to rent the unit, asking $795 a week.
Fung is the 2012 co-founder and CEO of Airtasker, a company that provides an online and mobile marketplace enabling users to outsource everyday tasks.
Users describe the task and indicate a budget, then community members then bid to complete the task.
This article first appeared in the Daily Telegraph.
 
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Airtasker CEO Timothy Fung trades up in Woollahra

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Madman Entertainment co-founder and film producer Paul Wiegard has listed his Victorian terrace in Fitzroy.
Known as Fitzroy House, the 1870s terrace comes with a state of the art three level extension by Techne Architect.
Wiegard paid $2.1 million for the home in 2008.
Fitted with interiors from Techne Architect's in-house interior designer Virginie Lhermet, the home sits on a 350 sqm plot landscaped by Jenny Smith.
The dining room in the front section of the home opens to an internal courtyard that links the original house to the contemporary extension.
Two bedrooms sit on the second level of the home, while the master retreat with ensuite and balcony occupy the third level.
A roof deck is fitted with a kitchenette, barbecue and dining area.
Kay &amp; Burton South Yarra agents Darren Lewenberg and Grant Samuel have set a June 3 auction date. 
Wiegard is co-founder of Madman Entertainment, a leading independent film and television distribution and rights management company.
This article first appeared in the Weekend Australian Mansion Australia section.
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Film producer Paul Wiegard lists Fitzroy terrace

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Despite spending more time back in Italy, veteran magazine publisher Marcello Grand has bought back into the Sydney market, settling on a redesigned Victorian terrace in Paddington.
It's a investment rental for Grand however, who paid $2,215,000 for the home revamped by interior designer Thomas Hamel.
There are whispers Grand is already planning a renovation.
It has three bedrooms, one bathroom, a dressing room and a rear courtyard that flows from the stainless steel kitchen and dining area.
Two of the bedrooms have balconies while the third acts as an attic retreat.
Ray White Double Bay agent Peter Leipnik sold the home which is now up for rent at $1,350 a week, which would reflect a three percent yield.
It was 1983 when Grand established Studio Magazines. 
His first magazine was Studio Collections was a womens' fashion magazine with the Black + White magazine its most known after launched in 1992 and published until 2007. 
Having studied at Turin University, Marcello had previously worked as an architect and advertising consultant.  
Grand sold his renovated Darling Point penthouse for $3,525,000 late last year. He paid $1.4 million for the unit in 2012 from former Double Bay Art Gallery director Alan Winters.
 
 
 
 
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Terrace Sale

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