Distressed Property of the Week

904/79-81 Berry Street North Sydney NSW 2060

The vendor is now accepting offers from $470,000 on this 1-bedroom apartment, located in North Sydney. The property last sold in March 2016 for $510,000 where the vendor is hoping the reduced price will attract either an owner-occupier or landlord for a quick sale. 

According to Todd Houghton and Harrison Wright from Altium Property, this 1-bedroom apartment is located wthin the sought after Alexander Apartments. The unit comes complete with a balcony and allows for easy access to Kirribilli, McMahons Point, North Sydney station and the upcoming metro station.
 
If you think it is a good deal, make sure you crunch the numbers first. In postcode 2060, the vacancy rate has decreased over the last 12 months to 4.2% in November 2021 from 5.4% in November 2020. Asking rents have risen 4.6% over the last 12 months to 9 November 2021. The gross rental yield on units currently sits at 3.5%.

However, asking sales prices for units have decreased over the year by 31.3%. You can view recent sales in 2060 here. Given these figures, equip yourself with the latest market research, as you could possibly drive a harder bargain with the seller.

Monitor this market and others with SQM Research’s free property data. Also consider the SQM Property Explorer product for more in-depth data and property price estimator.

Auction Results

for week ending 7th November 2021

Auction Listings*

for week ending 14 November 2021

* The above counts of auctions represent most recent known auction dates for the coming week.

This 9 acre English countryside estate was sold 30 years ago by Prince Charles and is on the market for the first time since the 90's. According to Mansion Global reports, the estate is currently listed for £4.95 million ($6.75 million USD).

Built in 1906, The Brimpstead Estate is located within Dartmoor National Park and provides the home owner with excellent fishing opportunities, numerous cottages, woodlands, gardens and paddocks. The main home consist off six bedrooms and was designed from pink granite in the Edwardian style. According to the listing, "The current owners refurbished the dwelling, which also features a ballroom, study, and library."

According to Hamish Humfrey of Knight Frank, the estate is an Arts and Crafts-style house and the owners wanted to work on a property that was sympathetic to its estate. "A lot of people, when they purchase property like this, they view themselves as custodians.”

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SQM Research Housing Indexes

SQM Research Weekly Asking Prices Index

Week ending 9 Nov 2021		Asking Price	Chg on prev wk	Rolling month % chg	12 mth % chg
Sydney	All Houses	1,683.8	11.6	-0.6%	24.4%
	All Units	702.9	0.9	-0.1%	4.6%
Melbourne	All Houses	1,133.1	7.4	2.0%	10.3%
	All Units	572.8	-1.3	0.1%	-0.5%
Brisbane	All Houses	782.8	6.0	4.0%	19.4%
	All Units	409.1	1.8	2.1%	7.9%
Perth	All Houses	714.7	3.0	1.4%	6.0%
	All Units	393.6	1.6	1.3%	3.7%
Adelaide	All Houses	621.5	5.2	1.7%	17.3%
	All Units	324.5	0.7	1.1%	3.4%
Canberra	All Houses	847.1	2.3	-1.9%	4.8%
	All Units	477.6	-3.5	-2.6%	1.2%
Darwin	All Houses	647.2	-0.4	1.3%	11.5%
	All Units	377.9	3.3	2.1%	7.5%
Hobart	All Houses	683.0	-0.4	0.0%	16.2%
	All Units	443.0	2.8	0.5%	13.1%
National	All Houses	739.0	11.2	3.3%	17.2%
	All Units	445.4	-0.4	0.2%	9.7%
Cap City Average	All Houses	1,159.2	12.1	0.8%	18.1%
	All Units	584.0	0.1	0.1%	3.0%

Next update: 16 Nov 2021

SQM Research Weekly Rents Index

Week ending 4 Nov 2021		Rent	Chg on prev wk	Rolling month % chg	12 mth % chg
Sydney	All Houses	704.0	-1.0	0.4%	12.5%
	All Units	469.8	0.2	0.9%	4.4%
Melbourne	All Houses	523.0	0.0	-0.3%	1.7%
	All Units	372.2	-0.2	-0.3%	-4.3%
Brisbane	All Houses	534.5	1.5	1.0%	14.2%
	All Units	394.4	-0.4	-0.6%	4.5%
Perth	All Houses	524.1	-1.1	-0.1%	10.4%
	All Units	404.2	0.8	0.7%	11.2%
Adelaide	All Houses	458.4	0.6	0.5%	9.2%
	All Units	335.0	-1.0	-1.9%	7.8%
Canberra	All Houses	716.0	4.0	0.4%	13.9%
	All Units	523.0	3.0	1.4%	8.7%
Darwin	All Houses	619.3	12.7	2.5%	14.4%
	All Units	463.1	9.9	-0.6%	23.5%
Hobart	All Houses	504.6	8.4	4.9%	14.8%
	All Units	419.9	-3.9	-1.7%	10.0%
National	All Houses	537.0	-2.0	0.4%	10.5%
	All Units	412.0	1.0	1.0%	9.0%
Cap City Average	All Houses	582.0	0.0	0.2%	8.4%
	All Units	424.0	0.0	0.5%	3.2%

Next update: 12 Nov 2021