23 Hannan St, Williamstown, sold for $2.815m in a major win for retro 1980s homes.

When Claudia and Ted bought their Williamstown home in 1978 it was a run down Victorian residence.

Records show they paid $39,000 for it before replacing it with a forward-thinking mixture of Alistair Knox inspiration, clever solar use and plenty of 80s retro charm.

Yesterday they sold it for $2.815m, more than $500,000 above the $2.3m they set as the top of their price guide.

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Since then, the home has housed generations of their family from their kids to Claudia’s parents, and their daughter again.

Aside from a semi-recent adaptation to better suit multigenerational living, the home has had little done to it since the 1980s — but its exposed brickwork, sunken lounges and raked ceiling line are all back on vogue today.

“It’s nice to see it’s all coming back again, but the new homes aren’t built like this any more,” Claudia said.

A retro sunken lounge and exposed brickwork beneath raked timber ceilings were a bit part of what attracted the family who bought the home.

The home came with two sunken lounge spaces.

Ted, a civil engineer before he retired, said they’d designed their forever home — and gotten a lot of enjoyment out of its forward thinking design that retained and excluded heat as needed in winter and summer, and even featured in-floor heating.

For Claudia, the sale marked a “bittersweet” end to a lifetime connection to the street — having grown up at a home down the street at No. 7.

“But we’re hoping to help our children with their lives now, rather than later – so we can see them enjoying it,” she said.

But they’re still planning one final family send off for the house before the new owners collect the keys.

Williams Real Estate’s Katie Smith conducted the auction and said five bidders drove the massive result.

The solid home’s walls, including its interior ones, are all made of brick.

The retro kitchen is still charming buyers today, decades after it was built.

“It’s been a long time since I’ve had one like that,” Ms Smith said.

The buyers, a local family with three kids, fell for the home’s single-level design and retro charm that is now very much back in vogue.

“They don’t want to do anything with it, they just want it for what it is,” she said.

But with limited signs of future listings, Ms Smith said buyers would be waiting some time for anything similar — and the suburb’s lack of supply would push prices even higher.

Ms Smith noted another sale for a nearby single-level, brick home at 10 Kingshott Close, Williamstown, for $1.6m had soared about $250,000 past expectations yesterday, as well.

With both homes well kept, but still featuring a range of their original features, she said the need for a reno was fading.

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Christina Haack’s ex-husband Josh Hall scored major wins in their divorce settlement, nearly four months after their separation was finalised.

The businessman was granted a Tennessee home and condo, California property, furniture and several cars, including a Hondo Motorcycle, a 1970 Chevelle, a DeLorean from the 1980s and a 1940s Dodge, according to Us Weekly.

He’s also entitled to his company’s interests and will not have to pay back Haack the $US100,000 ($A153,000) she gave him during their divorce proceedings, Page Six reports.

Hall will maintain the full rights to his bank account and receive a $300,000 ($A460,000) one-time payment from Haack.

The exes, however, both waived their rights to spousal support.

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Christina Haack’s ex-husband Josh Hall received major wins in their divorce settlement. Picture: stephaniegabrys/Instagram

According to Us Weekly, the businessman was granted a Tennessee home and condo, California property and furniture. Picture: Instagram / @thechristinahall

Hall was also granted several cars. Picture: Instagram / @thechristinahall

Meanwhile, Haack was granted her Newport Beach, California, mansion, several properties in Tennessee, the full rights to her business and her bank accounts.

She also permanently owns one 2021 Polaris Razor, a couple of 2021 GMC Yukons and four quads, though she has to give up a 2022 Bentley.

Reps for Haack didn’t immediately respond to requests for comment.

However, Hall took to Instagram to shade his ex after the news was revealed.

“Excited to spend Labour Day weekend in the real reality,” he captioned a photo of himself standing with a horse.

“Finally, legally divorced and a free man. I’ve always worked hard, kept what’s mine, and declined hand outs, and I’m keeping it that way.”

“Lesson learned: don’t marry someone who needs constant public validation and will use your personal drama for attention.”

Hall received a one-time payment of $US300,000 from Haack. Picture: Instagram / @thechristinahall

Hall maintained the rights to his bank account. Picture: thechristinahall/Instagram

The Flip or Flop star, 42, and Hall’s divorce was finalised in May after their divorce proceedings turned messy when they both filed for dissolution of marriage in July 2024.

In October, Haack accused Hall of stealing her money via social media.

The Christina on the Coast star also expressed her regret in not having signed a prenup when she and Hall secretly married in 2022.

“Oh my God, it’s crazy. He wants to retire off me,” she stated during an episode of The Flip Off in February.

When the divorce was finalised, the HGTV star celebrated the milestone via her Instagram Stories, sharing she couldn’t “wait to move on with [her] life and focus on what’s ahead and all [her] blessings.”

Haack gets to keep her Newport Beach mansion. Picture: thechristinahall/Instagram

The exes finalised their divorce in May after calling it quits last year. Picture: unbrokenjosh/Instagram

Haack has since started dating businessman Christopher Larocca, and Josh was romantically connected to model Stephanie Gabrys in January.

The lifestyle guru was also once wed to Tarek El Moussa from 2009 to 2018 and her second ex-husband, Ant Anstead, from 2018 to 2021.

She shares a 14-year-old daughter, Taylor El Moussa, and a 10-year-old son, Brayden El Moussa, with Tarek, and a 5-year-old son, Hudson Anstead, with Ant.

Parts of this story first appeared in Page Six and was republished with permission.

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Have lower mortgage rates altered the dynamics of the housing market based on our data? Now that August has come to an end, it’s clear that they have — and the results have surprised me.

In recent years, it has typically taken sustained mortgage rates of around 6% to impact housing data. However, I noticed a shift starting in mid-June, and this trend has remained consistent for over two months. Let’s examine the data to uncover what it reveals.

Weekly housing inventory data

In recent years, our weekly inventory data typically reached its highest point in October or November, which is later than in the pre-COVID era. However, around mid-June, when mortgage rates began to decline, I observed a slight shift in the data. If you had asked me whether I expected inventory to decrease in August, given that mortgage rates were still at 6.50% and higher, I would have said no. Yet, that is exactly what occurred.

Currently, year-over-year inventory growth has dropped from recent highs of 33% to 22%, despite mortgage rates not yet approaching 6%. If mortgage rates had been trending toward 6% earlier in the year alongside the level of inventory growth we experienced, it wouldn’t have surprised me. However, that didn’t happen. I will continue to monitor this situation for the remainder of the year. 

Last week, inventory rose just a little: 

• Weekly inventory change (Aug. 22-Aug. 29): Inventory fell from 861,238 to 860,728 
• The same week last year (Aug. 23-Aug. 30): Inventory rose from 698,161 to 704,654

Note: This is a holiday weekend so the housing data next week will impacted by that, but last week the data looked normal.

New listings data

The new listings data peaked during the week of May 23 this year, reaching a total of 83,143 listings. Since then, this number has been gradually declining. Initially, I was excited to reach my target of 80,000 listings for 2025, something I miscalculated the previous year. However, we haven’t seen consecutive weeks with listings above 80,000 during the seasonal peak period, which was somewhat disappointing. We are now entering the traditional seasonal decline.

To give you some perspective, during the years of the housing bubble crash, new listings were soaring between 250,000 and 400,000 per week for many years. Here’s last week’s new listings data over the past two years:

• 2025: 63,761
• 2024: 59,566

Price-cut percentage

In an average year, around one-third of homes experience price reductions, which is a common occurrence in the housing market. Homeowners often lower their sale prices when inventory levels increase and mortgage rates remain high. As a result, with more homes available and higher rates, the percentage of price reductions is greater than it was last year. This has been another great story for housing in 2025, as the housing market has become a much more friendly market for buyers in 2025. 

For my 2025 price forecast, I anticipated a modest increase in home prices of approximately 1.77%. This suggests that 2025 will likely see negative real-home prices again. In 2024, my forecast of a 2.33% increase proved inaccurate, primarily because rates fell to around 6% and demand improved in the second half of the year. As a result, home prices increased by 4% in 2024. The rise in price reductions this year compared to last year reinforces my cautious growth forecast for 2025. This data line growth rate has also cooled down recently.

Here are the percentages of homes that saw price reductions last week in the past few years:

• 2025: 42%
• 2024: 39%

10-year yield and mortgage rates

In my 2025 forecast, I anticipated the following ranges:

• Mortgage rates between 5.75% and 7.25%
• The 10-year yield fluctuating between 3.80% and 4.70%

During a week when many expected interest rates and bond yields to rise due to the ongoing drama surrounding the potential firing of Fed Governor Lisa Cook, we actually saw the lowest mortgage rates of the year. This has surprised a lot of people. I discussed this topic in the latest episode of the HousingWire Daily podcast, and even a significant inflation report on Friday did not lead to higher rates.

While the 10-year yield didn’t experience dramatic fluctuations, the fact that it decreased during the week and stayed below 4.32% did catch some by surprise. Next week is jobs week, so we can anticipate a lot of important data that will impact both the Federal Reserve and the markets.

Mortgage spreads

As always in 2025, we should appreciate the mortgage spreads. This year has seen favorable pricing largely due to improvements in mortgage spreads compared to the levels of 2023 and 2024. As long as there aren’t any major market disruptions and the Federal Reserve continues to cut rates toward neutral, this trend should continue.

If the spreads were as bad as they were at the peak of 2023, mortgage rates would currently be 0.80% higher. Conversely, if the spreads returned to their normal range, mortgage rates would be 0.50%-070% lower than today’s level. Historically, mortgage spreads have ranged between 1.60% and 1.80%.

The best levels of normal spreads would mean mortgage rates at 5.80% % to 6.00% today, a notable difference.

Purchase application data

We’ve had our first month of testing the housing data with rates under 6.64% which has been the key level in the past. The data passed with flying colors, as we saw four straight weeks of positive weekly and year-over-year data. This typically occurs when rates fall below 6.64% and head toward 6%. I wrote about this last week as well. We saw 2% week-to-week growth and 25% year-over-year growth. We typically need to see week-to-week growth for 12-14 weeks to achieve something material, but it’s a good start. 

Here is the weekly data for 2025 so far:

• 16 positive readings
• 11 negative readings
• 6 flat prints
• 30 straight weeks of positive year-over-year data
• 17 consecutive weeks of double-digit growth year over year 

Total pending sales

The latest total pending sales data from HousingWire Data provides valuable insights into current trends in housing demand. Last year, we observed a significant shift when mortgage rates decreased from 6.64% to around 6%. While we haven’t reached 6% yet, the recent data with higher rates has shown slight year-over-year growth, and that trend has continued. 

Total pending sales: 

• 2025: 376,916
• 2024: 365,909

Weekly pending sales

Our weekly pending home sales provide a week-to-week glimpse into the data; however, this data line can be impacted by holidays and any short-term shocks, so expect next week’s data to take a big hit due to Labor Day Weekend. We are still showing slight year-over-year growth in this data line. The pending sales data is included in the existing home sales report 30-60 days prior.

Weekly pending sales for last week:

• 2025: 65,701
• 2024: 64,255

The week ahead: Jobs week!

It’s jobs week! This is a significant one as it’s the last jobs report before the Federal Reserve meets in September. The only reason the Fed might not cut rates during that meeting is if this week’s jobs report is impressive.

We have four labor reports scheduled this week, along with other economic data and statements from Federal Reserve members. The Lisa Cook story could take some more twists this week as well. So, just buckle up, folks, this week might be one of the wildest weeks yet in 2025. 

Experts are tipping that this spring could see a massive level of buyer activity across Melbourne.

Melbourne homebuyers are gearing up for spring in the biggest numbers since the city’s Covid boom amid a rate cut bonanza that’s added almost $100,000 to budgets.

Cashed up first-home buyers, especially tradies, are expected to have one of their best cracks at a purchase in history, with mortgage brokers revealing there has been a surge in inquiries after the federal government announced they would guarantee loans for high earners from October.

Families are also expected to try for some of the best homes suburbs have to offer, with falling interest rates raising confidence in the city’s property prospects luring back owners who had sat out the past three springs in response to sky-high mortgage costs.

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Prominent Melbourne buyers’ advocate Cate Bakos said a wave of demand was already emerging, with many purchasers missing out amid competitive auctions.
“Others are worried about the market running away from them with the impact of interest rate cuts and first-home buyer initiatives threatening to fuel the market, so for many, it’s FOMO,” Ms Bakos said.
She added that she was fielding more calls than at any time since the Covid-era boom of 2021, when Melbourne’s median house price skyrocketed by $170,000 in just 12 months to reach $1.07m.
“Now that interest rates have been cut thrice, and particularly given first-home buyers have had their deposit guarantee enhanced and brought forward, buyer enthusiasm has markedly increased; not to mention, investors are back, especially from other states,” she said.

This house at 32 Power St, Williamstown, is for sale with a $1.2m-$1.3m price tag. The suburb in Melbourne’s west has a $1.52m median house price, according to PropTrack.

Buyers’ agent Cate Bakos says she has not seen a Victorian property market this busy in spring, since 2021.

The buyers’ advocate said the expansion of the Home Guarantee Scheme, to remove income caps, would reshape the entry end of the market.

From October 1, buyers will be able to spend up to $950,000 in Melbourne and purchase with a 5 per cent deposit without paying lenders’ mortgage insurance.
“I predict well-located, boutique apartments and villa units to fare particularly well,” Ms Bakos said.

“I also think that the entry level housing markets in the sub-$950K range will perform strongly for those first homebuyers who are searching for a house.”

PropTrack is expecting 1048 auctions across Melbourne this week. Picture: NewsWire/David Crosling.

This Victorian-era, two-bedroom house at 44 Rose St, Brunswick, is on the market with a $1.05m-$1.15m range. The area’s median house price is $1.263m.

Mortgage Choice broker David Thurmond said for every 0.25 percentage point cut this year there had been an about $20,000-$30,000 boost to borrowing capacity for most homebuyers.

So, someone who could borrow $500,000 last spring could now potentially have access to $590,000 — almost $100,000 more.

It’s also possible there could be another cut later in spring, though inflation data released this week indicated it would likely be delayed.

In the past week, Mr Thurmond said he’d had multiple calls from first-home buyers whose income had precluded them from using the federal government’s First Home Guarantee — but who would be able to useitfrom October 1.

It’s important for both buyers and sellers to do their research and educate themselves about market conditions, median prices and legal requirements when thinking of buying or selling a home.

This three-bedroom house at 161 Munro St, Coburg, is for sale with $1.1m-$1.2m price hopes. The suburb, in Melbourne’s north, has a $1.1725m typical house value, PropTrack data shows.

There could also be a surge in tradies buying their first home, with many younger ones earning incomes above the current $125,000 threshold for sole-income earners hoping to access the government guarantee — which would also help them pin down a lender.
“Tradies have copped it left, right and centre when it comes to loans,” Mr Thurmond said.
“The banks don’t like them because they are self employed. But this spring might be their chance, there will be better opportunities for them — or at least better ones than there were.”

The southeastern suburbs-based broker tipped the $500,000-$800,000 price bracket to be the most active, with people aged 25-35 leading the charge.

This unit at 3/21 Jones St, Brunswick, has a $539,000 price tag. Units in the suburb cost a median $565,000.

Featuring three bedrooms, this house at 122 Tyler St, Preston, is for sale with a $900,000-$990,000 asking range. The area has a $1.16m typical house price, according to PropTrack.

Advantage Property Consulting director Frank Valentic warned it would be easy for buyers to lose discipline as competition ramped up.
“Be careful not to get carried away and get FOMO and overpay for a property because of emotion,” Mr Valentic said.

He suggested making pre-auction offers “to try and catch other buyers on the hop”, and to get someone to bid on your behalf if you might not stick to your limit.

Kay & Burton executive director Scott Patterson said Melbourne had experienced a “fairly subdued market for a few years” but was turning a corner this spring.

“There’s been a lot of sellers who perhaps have felt that it wasn’t the right market conditions to sell in the past couple of years,” Mr Patterson said.

“I think the sellers, or the people who own the larger, quality homes around the area are definitely more confident that there’s already a market for their houses.”

Advantage Property Consulting director Frank Valentic says it is important for buyers to try to stick to their budgets at auctions this spring.

A five-bedroom house, 23 Havana Cres, Frankston, is on the market for $750,000-$825,000. Frankston’s median house price sits at $760,000.

Apollo Auctions Victoria director Andy Reid said signs of competition were mounting earlier than expected.
“I’m already meeting buyers that have missed out on three to four properties, and this is only going to become more common which will turn the screw on the anxiety of the buyer population,” Mr Reid said.
“Spring may get pretty intense.”

What a spring rate cut could do to your budget

Source: MortgageChoice

Tips for buyers this spring

+ Be pre-approved. Not just ‘online’ pre-approved, but full assessment pre-approved. That way you can jump in with an offer, or put your hand up at auction with confidence.

+ Don’t delay. Spring offers heightened volumes of stock and the market dries up once the big man comes down the chimney on Christmas Eve. If you are thinking that now is a good time to buy, these next three months are the optimal months

+ Don’t avoid auctions. It’s easy to think that all the auction results smash past the value of the property, but the quoting regimes can fool a lot of buyers. In a lot of cases, auction results are reflective of market value.

Apollo Auctions Victoria director and auctioneer Andy Reid says the spring market will be a challenge for buyers but it’s important ask all the questions you need answered, even if they seem silly.

Spring market advice and pitfalls for buyers and sellers, pending on their individual situations and aims. Graphic: Canva/Google Gemini.

+ Have your professionals on speed dial. Campaigns can pivot and things can move quickly in spring. You’ll need a conveyancer and solicitor, and a good building and pest inspector on hand when the right property comes along. Be prepared.

+ Get out there and do your homework. The internet gives you the numbers, but you learn so much more by getting out there and putting time into finding out the reality.

+ Trust your gut. Access to information is amazing, but beware of “paralysis by analysis”, because if you keep calculating, you’re likely to be left behind because of the “rear-view” nature of the information.

+ The only daft question is the one you don’t ask. Leave no stone unturned and ask lots of questions about the property and the process.

This house at 67 Kirby St, Reservoir, has a $750,000-$825,000 price tag. Ms Bakos said the suburb was a good alternative for buyers priced out of the inner north and Preston areas.

If you’re lucky enough to have deep pockets or win the lottery this spring, this five-bedrrom house at 25 Wrixon St, Kew, is priced at $9m-$9.9m. The suburb in Melbourne’s inner east has a $2.62m median house price.

+ Lose a battle to win a war. In this kind of market, there are plenty of situations that will test your perspective and if you focus too much on the moment and not enough on your end goal, you can cost yourself opportunities to achieve what you originally set out for.

+ Keep breathing. It’s going to be a challenge, so accept it, take a sip of your coffee, and get ready to be challenged. This isn’t a market to be half-committed in.

Source: Buyers’ advocate Cate Bakos, Apollo Auctions Victoria director and auctioneer Andy Reid

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It’s the burning question homeowners of a certain age face — sell and upgrade or stay and renovate?

Exclusive analysis by comparison site, Compare the Market, reveals it costs at least $53,500 to sell a home in Brisbane once stamp duty, legal fees, and agent commission are considered.

Depending on the scale of the renovation project, a cosmetic renovation could set you back about $33,000, but an extension for just one room could cost upwards of $250,000.

Should you stay and renovate or sell and upgrade? That’s the question. Picture: Supplied.

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The latest Australian Bureau of Statistics data reveals the average loan size for a renovation project in Queensland was most recently a little over $200,000.

“It really depends on the scale of the building project,” Compare the Market property expert Andrew Winter said.

“For example, if you need to add a lot of extra rooms/space, it may be cheaper to move, especially if you’re happy to consider moving to a fringe suburb where bigger homes are more affordable.

Real estate guru Andrew Winter is Compare The Market’s property expert. Image: Luke Marsden.

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“If you’re just looking for a cosmetic upgrade, you may well be better off giving your kitchen/bathroom a facelift, as costs associated with moving can be upwards of $50,000.”

Top Build Group director Mitch Reardon charges $4666 per square metre to do a renovation. For a client looking to add just one extra bedroom to their house, he charges about $80,000.

A recent project in Tarragindi involved an 80 sqm extension, including two bedrooms, a walk-in robe, en suite, laundry, and rumpus room, which cost his client $328,000. The median house price in Tarragindi is $1.5m.

HIA figures show the cost of renovating has gone up 54 per cent in Brisbane since 2019.

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However, a really big renovation, like the one he just did on his own property in Geebung, where the median house price is $1.04m, would cost between $1.2m and $1.4m, Mr Reardon said.

“It’s definitely getting to a point where some people are spending as much as they paid for the house originally on renovating it,” Mr Reardon said.

DIY friends and renovation team, Holly Docherty and Angie Lonergan from @renogals, have renovated five properties across southeast Queensland, and just put their most recent project at 9 Moorabinda St, Buderim, on the market.

Holly Docherty and Angie Lonergan are best friends who nurse and nanny by day, but spend their free time renovating homes. Photographer: Liam Kidston.

Ms Docherty said they were looking at buying a renovator in Wavell Heights, where the median house price was $1.4m, and adding an extension or raising the house, and two builders recently quoted them about $5000/sqm.

“The price between unrenovated properties and renovated has narrowed over the past five years, so I feel like there’s very little difference jumping from three to four bedrooms, so it might actually be cheaper to sell and buy something bigger,” she said.

Ms Docherty said the cons of renovating were the cost of moving out or living through the mess, and the risk of overcapitalising, but the pros were that it provided a level of customisation, and you knew your neighbours.

“The benefit of selling is that you may be able to reduce your debt and buy back in (to the market) with no debt, but the cost of selling and buying back in is huge now because house prices have gone up so much and the stamp duty is astronomical,” she said.

Mr Winter said it would likely cost a bit more than the median house price of just over $1m to buy a four or five-bedroom abode in Brisbane.

“The problem with that is bigger homes now cost a lot more to buy, and thanks to rising supply and labour costs, renovating isn’t cheap either, leaving a lot of people between a rock and hard place,” he said.

Housing Industry of Australia (HIA) figures show the price of the typical existing home across Queensland is at least 80 per cent higher than it was in 2019, while the cost of a typical renovation project has gone up about 54 per cent.

The cost of a new build has also skyrocketed. Labour and building materials costs are 35 to 40 per cent higher than in 2019, comparable to renovations costs.

But the price of a residential lot is about 60 per cent more expensive in Brisbane, 80 per cent dearer on the Sunshine Coast, and a whopping 150 per cent more costly on the Gold Coast.

“So, renovations can be a much more affordable alternative to buying another new or existing dwelling,” HIA senior economist Tom Devitt said.

Tom Devitt – HIA Senior Economist.

Recent research by HIA and the Centre for International Economics (CIE) shows 41 per cent of the cost of a house and land package in Brisbane is due to government taxes, fees and costs.

“Renovations on an existing home can potentially avoid a lot of this, especially the components associated with policy-inflated land costs,” Mr Devitt said.

“There’s also an ongoing desire from the pandemic for greater space and amenity in one’s living environment, giving the ongoing working-from-home phenomenon, which can be easier to achieve with a renovation than trying to find the exact desired living environment in a new home.”

Avi Khan, principal of Ray White Daisy Hill – AKG. Image supplied.

Ray White Daisy Hill and AKG principal Avi Khan said his team was seeing a rise in homeowners choosing to renovate rather than sell — even if they had significant equity gains in their properties.

“Unless a homeowner is upsizing significantly or relocating to a more affordable area, those potential gains can quickly be eroded,” Mr Khan said.

“Some owners are also hesitant to buy and sell in the same market, especially with uncertainty around interest rates and supply.”

Mr Khan said “smart renovations” were becoming a “serious wealth building strategy” given construction costs were stabilising and demand was still strong in many suburbs.

“We’re just as busy giving homeowners market advice on post renovation value as we are appraising current homes for sale,” he said.

“The key is knowing your numbers. Overcapitalising is a real risk as not every renovation delivers the return a home owner will be expecting.

“What we have found is that for most homeowners, it’s not just about selling or renovating, it’s about getting closer to the lifestyle they want and making sure their money is working hard for them.”

The post Love it or list it: The true cost of selling vs renovating your home appeared first on realestate.com.au.