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NSW residential property

This Month

Palm Beach trophy sale sets 2024 peninsula record

Frank and Amber Elsworth’s Karala estate has clocked the elite Sydney suburb’s most expensive deal of the year as the coastal market stays below its COVID-19 peak.

  • Bonnie Campbell
Yours at an average $20,000 per square metre: Kokoda Property has received approval for its $1.5 billion Skyring Terrace project in Brisbane’s Teneriffe. 

New home approvals rise to six-month high

As two project approvals in Brisbane and Melbourne show, soaring materials and financing costs have made new projects unviable for all but the priciest homes. 

  • Michael Bleby
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Foreign students hit; Citi’s weightlifting fighter; $4.8m property tip

Read everything that’s happened in the news so far today.

The three-bedroom townhouse at 3/29 Wheatleigh Street in lower north shore Sydney’s Crows Nest sold by private treaty for $2,915,000.

The unusual move that made this seller $4.8m

Most people with a large block to offload would do just that, but this vendor developed it – and made a much bigger profit in the process.

  • Michael Bleby

June

Kurraba Point mansion with a price guide of $25 million.

Former Boral chief’s $25m waterfront mansion to smash suburb record

A sprawling property on Sydney’s lower north shore is expected to surpass the record sale price for Kurraba Point.

  • Bonnie Campbell
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Lexi Dodd at the display suite version of her new Wentworth Point apartment, where she will move into at the end of the year.

Why this family is swapping a six-bedroom house for apartments

Lexi Dodd and her family are moving into apartments ahead of a new chapter, where being closer to cafés and restaurants is more important than space for kids.

  • Campbell Kwan
Who’s counting? Australia’s housing affordability picture is much worse when just house values are measured.

Housing not so ‘impossibly unaffordable’ after all

A recent global ranking of housing affordability only considered detached house prices in Australia. When including apartments, the picture changes. A lot.

  • Michael Bleby
For rent sign in the yard in front of a house

Shock property tax rise hits landlords, holiday homes

Investment properties in NSW will be hit by a $1.5 billion increase in land taxes, which the real estate industry warns could cost thousands of dollars a year and be passed on to renters.

  • John Kehoe
Not just severely unaffordable but now ‘impossibly’ so: Sydney is the world’s second-least affordable city for housing, according to the latest Demographia report.

‘Impossibly unaffordable’ housing a social risk: report

The level of housing price relative to incomes poses an “existential” risk and demands a rethink of urban growth boundaries, a new global report says.

  • Michael Bleby

Elizabeth Bay residents fight developer for more – not less – density

Fortis’ $214 million project in a Sydney inner harbourside suburb has put it at odds with city authorities and locals opposing more gentrification.

  • Michael Bleby
The four-bedroom house on 560 square metres at 59 Eighth Avenue Jannali in southern Sydney’s Sutherland Shire sold prior to auction for $1,915,100.

Downsizers from $1.9m house get help from agent to buy next home

In a low-stock market, some vendors are getting extra assistance – from their sales agent – to purchase their next home.

  • Michael Bleby

May

Stockland chief executive Tarun Gupta.

Stockland signs $1b land lease partnership with US giant

To get the ball rolling, the ASX-listed company would kick in three assets and about 1200 homes from its pipeline across NSW and Queensland.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
The home at 21 Coventry Lane in NSW Central Coast’s Hamlyn Terrace sold at auction for $780,000, $50,000 more than the identical neighbouring property sold for in November.

First home buyers purchase from investors in $780,000 sale

This Central Coast home’s proximity to the M1 highway made it popular with tradies commuting to Sydney – and with rates outlooks stabilising, they were confident about buying.

  • Michael Bleby
3 Berwick St, Coogee

Sydney couple down $700,000 trying to demolish old house

Ali and Amanda Hassan are fighting a long and costly battle with their council to convert a run-down dental surgery into a modern duplex.

  • Aaron Patrick
The 37 largest community housing providers bid for funding to develop more than 26,000 social and housing units in developments such as this one in western Sydney’s Penrith.

$10b housing fund should be doubled, community providers say

The massive response to the federal government’s first tender to develop affordable and social rental housing shows more funding is needed, developers say.

  • Michael Bleby
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Iwan Sunito (right) and his former business partner, Paul Sathio, have been feuding for almost four years.

Crown Group’s divorce makes progress as assets get divvied up

Since liquidators were appointed to Crown Group, the founders have bought assets from each other while selling unfinished projects to repay lenders.

  • Campbell Kwan

April

The proposed block includes more than 200 build-to-rent apartments and retail space.

BTR push in Sydney’s west gains steam despite flood risks

The NSW planning department concluded that increasing housing supply outweighed potential risks such as flooding for one BTR project.

  • Campbell Kwan
Height limits around Ku-ring-gai council’s transport hubs will immediately be raised to six storeys to increase housing.

The NIMBY council singled out by Minns for rejecting density

The NSW government has released its reforms for increasing housing near transport, and will immediately enforce it on the one council that has opposed density.

  • Updated
  • Campbell Kwan
Canva is planning a new office in the pricey inner Sydney suburb of Surry Hills, helping to explain staff members plan to put money from shares into real estate.

VCs are banking on Canva staff cash, but they’re buying houses instead

While most staff say they plan to put the money towards real estate, an investing program just for Canva staff already has the interest of more than 100 people.

  • Nick Bonyhady
Vendor David Milton more than doubled his money on this Neutral Bay apartment in Sydney’s lower north shore.

Real estate agent doubles his money by selling own apartment for $6.5m

There’s a national shortage of suitable units for downsizers, so a man who sells them for a living has just sold his own home – at quite a profit.

  • Michael Bleby

Original URL: https://www.afr.com/topic/nsw-residential-property-hvx