Distressed Property of the Week

3/27 Dobson, Ascot, QLD 4007

This week's property report features a 2-bedroom, 1-bathroom apartment located in Ascot on Dobson Street, QLD 4007. The location offers nearby shops, cafes, supermarkets, ferries and gateway access for the airport run.
Speaking of the internal facilities in this apartment it includes kitchen, 2 bedrooms where windows are floor to ceiling size. Additionally, an interesting design decision is a chimney rangehood above island bench in the kitchen. There is also a bathroom with bath and laundry.

The unit was initially listed on 22 December 2023 with the price as $650,000. Currently, the price was decreased to $600,000. The rental history is unknown. 

Now, let’s look at the numbers to gauge the property's financial appeal. Over the last 12 months, the vacancy rate for postcode 4007 has slightly raised from 0.0057% in February 2023 to 0.0086% February 2024 with the pick in June as 0.125%. Asking sales prices for 2-bedroom unit have dramatically increased 12.6% over the last 12 months to 8 April 2024. The gross rental yield on 2-bedroom units currently sits as just above 5.35%.  

Moreover, asking rents for 2-bedroom units in postcode 4007 have also increased. It has been consistently increasing for the last 10 years and for the last 12-month it increased by 19%. You can view recent sales in 4007 here.

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 the week ending 7 April 2024
Full individual auction results can be found on our website:

Auction Listings*

for the week ending 14 April 2024

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

Real Estate Realities

Aussie NBA player Ben Simmons decides to send California compound under the hammer in no-reserve auction

NBA star Ben Simmons is eager to sell his luxurious California home. The Brooklyn Nets player, who has faced frequent injuries, purchased the modern farmhouse for $23 million (US$17.5 million) in 2021.
He then attempted to sell it for $32.5 million (US$22 million) just a year later. Now, Simmons is looking for a buyer willing to meet the new price of $26.86 million (US$17.5 million). The property is set to go up for auction with no reserve, and bids are expected to start between $7 million and $12 million, according to Realtor.

Bidding for the property will be open from April 18 to April 30, if no buyer comes forward before then.

Simmons has been active in the real estate market off the court in recent years. In 2021, he listed his mansion in New Jersey for $6.7 million (US$5 million) but ultimately sold it for US$4.5 million. During his time with the Philadelphia 76ers, he purchased a stylish condo that had previously been available as a rental.

In 2022, he was also poised to purchase a new home in the renowned New York area of 'Dumbo' for $20 million, just before his debut with his current team, the Brooklyn Nets.
This 1,115 square meter property is luxurious in every aspect, and it offers privacy and security, thanks to the gated entrance of the upscale community.
Designed by the architectural firm Nobel LA, the property features a great room and dining area separated by a floating brass fireplace, reminiscent of those found in high-end ski resorts.

For more details click here. 

"Domain Group recorded a preliminary auction clearance rate of 68.3 per cent from 635 reported results, while 146 auctions were withdrawn." - Domain Group. 

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