Changing HANDS
POST-haste to a record price
Reading a house review in the POST turned out to be expensive for a local couple. They decided to look at the beachfront home in south
City Beach and ended up buying it for $11.12million, setting a record for the suburb. The five-bedroom and five-bathroom house at 28 Challenger Parade was built by two engineers who were working in Russia when they commissioned Maarch Architects to design it ( From Russia,withlove, POST, March
16). Agent Scott Swingler, of Shore Property, said buyers were prepared to pay a premium for move-in ready houses. “People are aware of building delays and increasing costs; it could take five or six years to complete a project like this,” he said. The 893sq.m property, advertised in the $10million to $12million range, went under offer last month and is yet to settle. The most expensive house to settle in City Beach was
17 Truro Place, which went for $9.75million in 2022. Another significant sale in the suburb is
62 Chipping Road which is believed to be under contract for $11million, but Mr Swingler declined to comment. That Giorgi-built house, on an 878sq.m site overlooking West Coast Highway, has five bedrooms, six bathrooms, a pool, sauna, spa and two pizza ovens.
Houses lead gains in Perth
Media outlets bombard us with clickbait like “Perth property prices could increase by a whopping 20 to 30%”, so how do you know what’s fact or fiction? When in doubt, look at the data. Researchers from CoreLogic analysed 90,000 dwelling resales from around the country in the December quarter. In Perth, “over 97% of house resales made a nominal gain in the quarter, compared to just 78% of unit resales,” the Pain and Gain Report found. The December quarter was Perth’s most profitable period since
July 2015. In other findings, between December and the end of February, Perth dwelling values rose 3.5%, including a 3.7% uplift in the unit segment. And guess which was the country’s most profitable city? Adelaide, for the fifth consecutive quarter, with more than 98% of resales making a nominal gain.
Down-South retreat fetches $10.2m
Empire Retreat and Spa is where folk from the western suburbs love to luxuriate – and it has just sold for $10.2million after 140 days on the market, RP Data shows. The sellers, Perry and Jill Coleman, turned their old farmhouse into an award-winning retreat with 11 rooms, a day spa, restaurant, manager’s quarters, vineyard, olive grove and a large dam. In the marketing blurb, Jon Hayes of Acton | Belle said: “Properties like
this come on the market very rarely, which makes this a remarkable opportunity for investors or the astute businessperson looking for a seachange home and commercial opportunity.” The buyer’s name has not yet been registered on public records. The property at 1958 Caves Road is on a 54.32ha site between Dunsborough and Yallingup.
Strong interest in fixer-upper
Dead lawn, threadbare carpet and a broken fence have not deterred interest in a Mosman Park duplex half that was set for auction on Thursday, April 4. The 2x1 on the corner of Wellington Street and Buckland Avenue had been due to be auctioned on April 20 but agent Stephen Lundy brought it forward after getting an offer that was “acceptable.” The other half at No.23A shows what a difference a renovation can make. It went for $758,5000 in 2021, property records show. In other auction news, a 1977 house opposite Swanbourne train station was snapped up on Good Friday, the night before its first home open.
The buyers paid $1.3million for 91 Claremont Crescent, which was due to be auctioned on April 20. The duplex half is on a 425sq.m front strata block. Agent Greg Rossen, of Rossen Real Estate, said the buyers were keen to buy the 3x1 before they headed overseas. He said it was a good price considering a similar property around the corner at 4A Saladin Street was under offer for $1.18million.