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Distressed Properties Report
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Distressed Property of the Week

71/172-176 Parramatta Road, Homebush, NSW 2140

This 1-bedroom apartment located in the heart of Homebush has been reduced, with the vendor now accepting offers from $490,000. This has been reduced from $545,000 when it was last sold in November 2016. The vendor is keen to sell and is hoping the reduced price will attract buyers.

According to Lisa Leong from Realty; the open-plan 1 bedroom apartment provides the owner with an internal laundry, lots of storage and a large balcony. Within walking distance of the building is Homebush Public School, public transport, shops and restaurants. 

Now, let’s look at the numbers to gauge the property's financial appeal. Over the last 12 months, the vacancy rate for postcode 2140 has decreased to 2.8% in April 2022 from 6.5% in April 2021. Asking sales prices for units have increased by 0.7% over the last 12 months to 20 April 2022. You can view recent sales in 2140 here.   

However, Asking rents for units in postcode 2140 have increased over the year by 9.6%.The gross rental yield on units currently sits at 4.1%. Given these figures, arm yourself with the latest market research, enabling you to possibly drive a harder bargain with the seller, who is clearly keen to get this property off their hands.

Monitor this market 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 17 April 2022
Full individual auction results can be found on our website:

Auction Listings*

for week ending 24 April 2022

CITY Saturday   Rest of Week STATE Saturday   Rest of Week   Link
Sydney 654   167 All NSW 780   303   Auctions in NSW
Melbourne 642   87 All VIC 739   109   Auctions in VIC
Brisbane 127   48 All QLD 223   146   Auctions in QLD
Perth 5   11 All WA 6   18   Auctions in WA
Adelaide 118   57 All SA 127   65   Auctions in SA
Canberra 44   30 All ACT 44   30   Auctions in ACT
Darwin 2   4 All NT 2   4   Auctions in NT
Hobart 0   0 All TAS 1   0   Auctions in TAS

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

Real Estate Realities

Lee Radziwill's Former 18th-Century English Estate is Listed for $24.4 Million

The 18th century Turville Grange, is for sale for the first time since 1974 for US$24.4 million (£18.75 million). The famed English country house was formerly owned by Lee Radziwell and is located in the Buckinghamshire county of South East England. 

The 49.39 acre estate features numerous buildings including the Queen Anne style house.  The 7,998 square feet building is the largest on the estate and boasts "five bedrooms, five reception rooms, five staff bedrooms, and a guest wing that features a sitting room and two guest bedrooms."

Between 1966 and 1974, the owner Radziwell had the entrance hall and main rooms remodelled by Italian interior designer Renzo Mongiardino. The floral motif is very present in the interior of the estate and according to Radziwill she “wanted a house of flowers, so that one wouldn’t notice the weather if it were dull.”

Additionally the estate offers a guest house that is named The White House in honor of Jackie O and President Kennedy. Other features of the estate are two cottages with three bedrooms in each, a greenhouse, stable house, paddock and a pool house with an indoor pool. 

More . . .

Black Dragon's Words for the Week

 

"The way to get started is to quit talking and begin doing" 

~ Walt Disney

SQM Research Housing Indexes

SQM Research Weekly Asking Prices Index

 
Week ending
19 Apr 2022
Asking Price Chg on
prev wk
Rolling month
% chg
12 mth
% chg
Sydney All Houses 1,755.3 2.3  0.3%  21.4% 
All Units 715.3 -3.3  -1.3%  6.7% 
Combined 1,274.4 -0.3  -0.4%  14.2% 
Melbourne All Houses 1,186.0 6.5  1.6%  14.9% 
All Units 583.5 -0.1  0.3%  2.2% 
Combined 971.7 4.1  1.0%  9.0% 
Brisbane All Houses 903.5 9.7  0.3%  34.9% 
All Units 437.2 1.5  0.6%  13.6% 
Combined 757.4 7.1  0.2%  28.5% 
Perth All Houses 742.9 -5.0  0.3%  11.0% 
All Units 400.3 1.0  0.6%  2.6% 
Combined 658.1 -3.5  0.3%  8.5% 
Adelaide All Houses 692.9 4.5  1.3%  28.7% 
All Units 331.3 2.0  0.7%  1.6% 
Combined 610.9 3.9  1.1%  23.7% 
Canberra All Houses 1,073.5 -4.0  -1.6%  28.7% 
All Units 528.5 10.1  4.1%  11.2% 
Combined 859.8 1.5  -0.4%  22.7% 
Darwin All Houses 657.7 -0.3  0.6%  12.1% 
All Units 359.9 -0.4  0.0%  -7.4% 
Combined 555.2 -0.3  0.4%  7.0% 
Hobart All Houses 752.0 1.1  2.5%  17.8% 
All Units 451.8 -2.7  -4.7%  9.2% 
Combined 696.2 0.4  1.5%  15.8% 
National All Houses 800.1 6.2  1.3%  21.6% 
All Units 473.2 0.9  -0.3%  13.6% 
Combined 717.3 4.8  0.9%  19.0% 
Cap City Average All Houses 1,224.1 6.3  0.8%  19.6% 
All Units 595.7 -2.3  -0.6%  5.3% 
Combined 1,011.0 3.4  0.3%  14.2% 

Next update: 26 Apr 2022

SQM Research Weekly Rents Index

 
Week ending
20 Apr 2022
Rent Chg on
prev wk
Rolling month
% chg
12 mth
% chg
Sydney All Houses 787.5 0.5  1.8%  19.3% 
All Units 503.8 1.2  1.6%  11.0% 
Combined 591.7 1.0  2.0%  13.3% 
Melbourne All Houses 549.4 0.6  0.3%  7.6% 
All Units 409.8 1.2  2.1%  12.2% 
Combined 456.1 1.0  1.7%  9.6% 
Brisbane All Houses 592.8 3.2  3.4%  21.9% 
All Units 418.3 2.7  2.3%  8.5% 
Combined 502.3 3.0  3.2%  15.9% 
Perth All Houses 576.9 -3.9  -0.6%  11.2% 
All Units 433.9 2.1  1.8%  11.8% 
Combined 510.4 -1.1  0.5%  10.8% 
Adelaide All Houses 511.7 6.3  3.6%  17.0% 
All Units 368.0 4.0  5.3%  11.9% 
Combined 460.2 5.5  4.4%  15.8% 
Canberra All Houses 765.9 1.1  -0.4%  14.9% 
All Units 559.6 0.4  0.8%  13.2% 
Combined 646.3 0.7  0.5%  13.7% 
Darwin All Houses 647.5 -0.5  5.0%  11.2% 
All Units 445.4 -14.4  -1.0%  10.7% 
Combined 526.0 -8.9  1.9%  11.5% 
Hobart All Houses 524.6 7.4  2.9%  6.8% 
All Units 446.5 -3.5  2.2%  8.3% 
Combined 496.0 3.4  2.7%  7.8% 
National All Houses 580.0 1.0  1.8%  13.5% 
All Units 440.0 5.0  2.6%  12.5% 
Combined 498.5 3.3  2.5%  11.9% 
Cap City Average All Houses 638.0 0.0 1.1%  15.2% 
All Units 458.0 1.0  1.6%  11.4% 
Combined 523.5 0.6  1.7%  12.1% 

Next update: 28 Apr 2022

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