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Auction numbers picking up to pre-COVID levels: Market Wrap

Auction numbers are still down but clearance rates are climbing, according to CoreLogic's latest numbers including sales from McGrath Double Bay, McGrath Noosa and Queensland Sotheby's International Realty.

New South Wales (NSW)Sydney

The Economy

Former banker to head up The Agency, Upper North Shore

The Agency welcomes Jason Roach to the fold as the company spearheads the brand's presence on the Upper North Shore of Sydney.

National

The Economy

John McGrath – Regional hotspots attracting remote workers

Six months into the pandemic and McGrath offices are seeing a rapid spike in demand for property in regional towns, according to John McGrath, founder and executive director, McGrath Estate Agents.

New South Wales (NSW)

Featured Property

New street record for Banora Point: REAL Specialists

Hamptons style home sold by Brent Hodge and Shaun Cardillo of REAL Specialists.

New South Wales (NSW)Sydney

Featured Property

Classic Paddington terrace with modernist style transformation

This clean and contemporary home which honors the heritage of the building is for sale by Ben Collier of The Agency.

Queensland (Qld)Brisbane

Featured Property

‘Bianco’: brand new Coorparoo home inspired by Miami's art deco style

Delivering a large land parcel, expansive living spaces and beautiful interiors, this bespoke family home is for sale via James Curtain and Denis Najzar of Place Woolloongabba.

New South Wales (NSW)Sydney

People

Daniel Kontista of Kontista + co: the true value of a well designed home

"The memory and legacy of a historical dwelling is all the more powerful adjacent to the efficiency and ease of modernist additions," Daniel Kontista of Kontista + co.

Queensland (Qld)Brisbane

Featured Property

Brisbane acreage with Georgian style manor home sold for $4.4m

Sold by Brett Greensill and Andrea Crossan of McGrath New Farm, who told WILLIAMS MEDIA, “Good stock is in startlingly short supply.”

Queensland (Qld)Brisbane

Two Brisbane Corso properties sold under the hammer for record prices

Susie O'Neill's riverfront home sold for a Yeronga 2020 sale record. Sold by Ray White New Farm.

Victoria (Vic.)Melbourne Brighton

Featured Property

Low maintenance Brighton luxury sold after 2 lockdowns

Sold by Chelsie Cargill and Alex Schiavo of Kay & Burton, who told WILLIAMS MEDIA, “We had every buyer type interested in this property.”

Pages

News Roundup

https://www.domain.com.au/news/andrews-government-urged-to-fund-heritage-protection-to-stop-mansion-demolition-20170603-gwgxqd/

Andrews government urged to fund heritage protection to stop mansion demolition

Communities are outraged by a string of high-profile mansion demolitions in Melbourne’s eastern suburbs.

Domain

http://www.afr.com/real-estate/new-home-sales-show-pickup-in-april-but-continue-yearly-decline-hia-20170602-gwjh0z

New home sales continue yearly decline: HIA

A pick-up in new home sales in April failed to halt a slowdown in the market, with total sales down 3.3% from a year earlier.

The Australian Financial Review

http://www.theaustralian.com.au/business/opinion/bernard-salt-demographer/brisbane-adelaide-perth-smaller-capitals-population-pause/news-story/aa313003e5637cefe2fa07c6cbed9a10

Brisbane, Adelaide, Perth: smaller capitals’ population pause

Together, Brisbane (population 2.3m), Perth (2.1m) and Adelaide (1.3m) comprise two-thirds of the Australian nation.

The Australian

https://www.mortgagebusiness.com.au/breaking-news/11147-two-loans-needed-under-new-home-lending-policy?utm_source=MortgageBusiness&utm_campaign=MBDaily%20bulletin01_06_17&utm_medium=email&utm_content=1

‘Two loans’ needed under new home lending policy

Borrowers with Teachers Mutual Bank, as of (30 May, borrowers will be limited to paying IO on just 50% of their borrowings, while the P&I proportion of their loan must cover at least half of their borrowings.

Mortgage Business

https://www.buildsydney.com/sydney-forecast-build-180000-houses-next-5-years/

Sydney Forecast to Build 180,000 Houses in Next 5 Years

Sydney will need around 725,000 additional homes over the next 20 years. Sydney’s population is projected to grow by around 1.74m by 2036.

Build Sydney

http://www.newyorker.com/books/second-read/a-gardening-book-for-those-who-hate-gardening-books?mbid=social_twitter

A gardening book for those who hate gardening books

For those of us with a small - or no - garden.

The New Yorker

http://www.afr.com/real-estate/foreign-investors-surging-as-proportion-of-property-buyers-20170530-gwgbym

Foreign investors surging as proportion of property buyers

The number of foreign investment groups active in the Australian commercial property market has jumped to 87 from just seven in 2006, according to a new analysis from JLL.

The Australian Financial Review

https://theconversation.com/the-government-should-pick-towns-not-industries-to-fund-78464

The government should pick towns, not industries, to fund

Rather than propping up failing industries, what if government instead provided incentives like tax breaks for expanding firms to locate in regional centres?

The Conversation