Sydney property forecast: suburbs predicted to lead next price boom

Western Sydney suburbs offering more affordable prices are expected to get a considerable jump in home values over the next six months, a new report has revealed.

The Shore Financial research indicated outer suburbs such as Mount Druitt, Whalan, Eschol Park and Ambarvale – some of Sydney’s cheapest areas – were forecast to get price growth of over 5 per cent in the next six months alone.

Other markets forecast to get a similar level of growth were spots around the city offering a more affordable entry point into perrenially popular coastal markets, such as the Northern Beaches and the Sutherland Shire.

Suburbs in these regions forecast to get growth of over 4 per cent – which would add close to $100,000 to the average house value in some cases – included Dee Why, Miranda, Kurnell, Wheeler Heights and North Narrabeen.

MORE: Sydney auction demand soars off the back of interest rate cuts

Hot Auction in Surry Hills

Demand at auction has already heated up since rates were cuts. Picture: Sam Ruttyn

These growth projections have come as mortgage brokers indicated recent interest rate cuts have launched a scramble for property in more affordable markets.

The federal government’s announcement this month that it would fast track the roll out of the First Home Guarantee scheme to October, while also expanding the eligibility criteria, could also boost demand in affordable areas, brokers claimed.

Government had previously restricted the scheme – which allows first-home buyers to purchase homes with deposits as low as 5 per cent without needing to pay pricey lenders mortgage insurance – to those buying Sydney properties under $900,000.

The price cap will, from October, rise to $1.5 million. Income caps, which restricted eligibility to couples earning less than $200,000 and singles earning under $125,000, will also be removed.

MORE: Read the scam email fooling nearly every Aussie

The ‘Heartland Sydney’ quintile top five suburbs. Source: Shore Financial

The ‘Suburban Sydney’ quintile top five suburbs. Source: Shore Financial State of Sydney Report.

MORE: Salary you now need to be ‘rich’ in Australia

The Shore Financial report noted that while the Sydney property market is likely to experience overall growth in the next six months, conditions are likely to vary significantly depending on the postcode.

While some commentators are expecting strong growth across all suburbs, this new data reveals a more nuanced picture.

The quarterly Shore Financial State of Sydney Report presents a house price forecast for the next six months which divides Sydney’s 600-plus suburbs into five quintiles, based on their current median asking price for houses.

Suburbs were excluded if they didn’t meet certain benchmarks and trends related to asking prices, days on market, inventory levels and sales volumes over the previous three months. The remaining suburbs were ranked based on expected growth in asking prices over the next six months.

MORE: ‘Too much’: Aussies told to check last energy bill

The ‘Rising Sydney’ quintile top five suburbs. Source: Shore Financial State of Sydney Report.

These suburbs were broken down into Heartland Sydney, Suburban Sydney, Rising Sydney, Professional Sydney and Affluent Sydney.

The report then picked the top five suburbs in each quintile.

Shore Financial CEO Theo Chambers said the six-month forecasts issued in the previous edition of the State of Sydney Report in February turned out to be accurate.

“The forecasts held up very well in the Heartland Sydney, Suburban Sydney and Rising Sydney suburbs – the three lower-priced quintiles – as the firm levels of demand we anticipated played out, in part due to the interest rate cuts in February and May,” he said.

“However, there were some discrepancies in the Professional Sydney and Affluent Sydney suburbs – the two higher-priced quintiles – which underperformed the forecasts, likely due to affordability pressures.”

The ‘Professional Sydney’ quintile top five suburbs. Source: Shore Financial State of Sydney Report.

Mr Chambers said while some commentators are expecting very strong growth rates throughout Greater Sydney in the next six months, the analysis conducted for the Shore Financial State of Sydney Report suggested a more nuanced picture.

“In some suburbs, growth rates are highly likely to exceed five per cent for the next half-year, putting them on track for double-digit annual growth rates,” he said.

“Many of those suburbs have low levels of inventory, which will force buyers to bid hard, especially for A-grade properties.”

MORE: Nedd Brockman reveals all at REA Group’s REAdy 25

The ‘Affluent Sydney’ quintile top five suburbs. Source: Shore Financial State of Sydney Report.

Mr Chambers said there are other pockets of Sydney where prices will barely move – or even decline – over the next six months, due to a combination of affordability pressures and higher levels of supply.

According to Mr Chambers, further rate cuts would put upward pressure on prices, but would not lead to the kind of rampant growth seen in 2021.

MORE: Sydney property: upfront costs blow out

Shore Financial CEO Theo Chambers

“If interest rates fall further in 2025, buyer’s confidence and borrowing power will increase, which should lead to a rise in demand,” he said.

“That said, buyers don’t have unlimited piles of cash to spend.

“Australian Bureau of Statistics data show that, in the four years to June 2025, wages throughout the country grew 14.4 per cent while prices rose 19.2 per cent, which meant the average Australian suffered a pay cut in inflation-adjusted terms.

“In other words, Sydney buyers are facing affordability constraints, which will put a ceiling on any near-term growth.”

MORE: Freeman’s surprise admission about career

The post Sydney property forecast: suburbs predicted to lead next price boom appeared first on realestate.com.au.

/0 Comments/by

‘Confused but committed’: Huge change in Aussie home buying

Buying a home remains a strong aspiration for most Australians but first home buyers are waiting longer to buy their first property. According to the latest Australian Bureau of Statistics (ABS) data, the average age of first home buyers is now 37.

Commonwealth Bank figures also show that the largest cohort of these buyers (40 per cent) are purchasing property on their own.

High property prices and a housing supply crunch are key reasons for this trend.

But there are other reasons for this change as well. Put simply, Australians are waiting longer than their parents and grandparents to not only buy their first home, but also to get married and start a family.

The latest ABS figures show both first-time mums’ and dads’ median ages (33.8 and 31.9 in 2023) have increased by five to six years since 1975. They are also now having just one child, as compared to two in the mid-1970s.

MORE: Locked in – these borrowers miss out on rate cut relief

The average age of a first homebuyer is now 37.

Large generational gaps are clearly evident when studying home buyers’ approaches to purchasing a property. In a recent report, these different approaches have been described as “generational defaults and dealbreakers”.

While this report is based on a US survey, it features some strong home buying differences between generations. Gen Z buyers initially feel confident about buying a home but the “cracks” in this confidence show later in the buying process until by the end, only 73 per cent of this age group say they feel ready to purchase.

CONFUSED BUT COMMITTED

Meanwhile, Millennial and Gen X buyers are more cautious.

According to the report, Gen X buyers are the quiet middle sector who are confused but still committed. These buyers are more responsible than younger buyers and want a smart property deal, rather than a fast one. Millennials are generally comfortable with the buying process but they can be sceptical about it all and their expectations about this process often shift.

The good news is that these points can work in older first home buyers’ favour.

As these “defaults and dealbreakers” suggest, general life experience is a big advantage when house-hunting. For example, there is nothing wrong with being cautious when buying such an important asset as a home, or feeling confused about the many different fees and costs involved in the process.

MORE: ‘Absolute chaos’: Rate cuts’ instant impact

Plenty of potential homebuyers are confused about the fees and costs involved.

There is also still plenty of hope for older first home buyers who can offer lenders significant financial advantages that can reduce their loan risk. These points include a long-term career with a good income, good savings as well as a healthy superannuation and investments.

Under the 2004 Age Discrimination Act, lenders also can’t decline a loan application, purely because of a buyer’s age.

At the same time, mature first-time buyers are higher-risk borrowers and Australia’s responsible lending laws may result in lenders baulking at their applications.

There is a key reason for this wariness: older buyers may only have 15 or 20 years to repay a standard 30-year loan before they reach their official retirement age; or in other words, they turn 67 years old, when they can start receiving an age pension.

MORE: Aus banks’ hidden rate cut agendas

Homebuyer approaches are very much defined by age.

As a result – and even though this retirement age can differ, depending on the lender – many will decline to write older buyers a 30-year loan. To counter this issue, I recommend older first home buyers have their finances in order before approaching a lender. Obtain pre-approval and conduct your market research.

You should also have an excellent exit strategy to give lenders, especially if you’re planning to hold your mortgage after you turn 67.

Be prepared to pay off your loan faster than younger buyers too.

Stabilising interest rates, and three rate cuts already this year, will also help your cautious confidence.

MORE: Leave now: 6 Aus banks still refuse RBA cut

The post ‘Confused but committed’: Huge change in Aussie home buying appeared first on realestate.com.au.

/0 Comments/by

‘Lifetime of debt’: Aussies slam 5pc deposit scheme

It’s being sold as a lifeline for first home buyers – but critics say the government’s new 5 per cent deposit scheme is actually a trap that could lock young Australians into decades of crippling debt.

Fresh analysis by mortgagebroker.com.au has revealed the policy, designed to get buyers into the market faster, could backfire spectacularly – inflating property prices, driving up repayments and leaving homeowners with more than $113,000 in extra interest over the life of a loan.

Under the scheme, an average first home loan would surge from $554,961 to $659,000, sending monthly repayments soaring from $3,217 to $3,821 – a $603 jump every month.

Furthermore, the scheme demands a significantly higher income to qualify for these larger loans.

MORE NEWS

Surprise housing shift Aussies didn’t see coming

Aus radio hosts nails nightmare of home ownership

The cut Aussies won’t get – but desperately need

PRIME MINISTER PRESSER

Prime Minister Anthony Albanese’s 5 per cent home deposit scheme has been heavily criticised. Picture: NewsWire / Martin Ollman

Source: mortgagebroker.com.au

The analysis indicates buyers would need a minimum salary of $120,000, a considerable jump from the $99,000 required under traditional 20 per cent deposit arrangements.

For those earning $120,000, initial mortgage repayments under the 5 per cent scheme would consume 50.5 per cent of their take-home pay, a sharp rise from 42.5 per cent with a 20 per cent deposit.

Shaun McGowan, CEO of mortgagebroker.com.au, said the scheme risks trapping young Australians in decades of additional debt.

“While the government’s intention to help first home buyers is admirable, this policy could trap young Australians in decades of additional debt,” he said.
“An extra $113,000 in interest payments over 30 years is a massive financial burden that could prevent buyers from building real wealth.”

MORE NEWS: Aus banks’ hidden rate cut agendas

Angry social media users have taken to X to comment about the government’s 5 per cent deposit scheme.

McGowan further cautioned that the reduced deposit requirement fosters a “false sense of affordability.”

“Buyers might think they’re getting into the market sooner, but they’re actually taking on significantly more risk,” he said.

“When mortgage repayments consume nearly half of your take-home pay, there’s very little buffer for interest rate rises or unexpected expenses.”

MORE: Locked in – these borrowers miss out on rate cut relief

Many are worried the scheme will send property prices soaring.

The Prime Minister’s recent announcement regarding the bring-forward of the policy has already drawn considerable criticism across social media platforms.

Public sentiment on Facebook and X (formerly Twitter) largely echoed the concerns raised by the analysis.

One commenter on Facebook questioned” “Does the 5 per cent deposit scheme also apply to an older established home or just one of your $500,000 dog boxes that you’re trying to build?!”

Another user on X highlighted the long-term financial implications, stating” “It will take less time to save for a deposit but a lifetime to pay it off.”

MORE: ‘Absolute chaos’: Rate cuts’ instant impact

Sydney’s housing market could become even more unaffordable under the scheme.

Data analysis indicates that 68 per cent of comments on the topic on X were negative, with many suggesting the policy would merely exacerbate housing affordability issues by driving up prices due to increased demand without addressing supply.

While the government maintains that the scheme, part of the broader Home Guarantee Scheme, aims to help first home buyers enter the market sooner and avoid Lenders Mortgage Insurance, critics argue that the long-term financial implications for individual buyers and the potential for market distortion outweigh these benefits.

MORE: Leave now: 6 Aus banks still refuse RBA cut

The post ‘Lifetime of debt’: Aussies slam 5pc deposit scheme appeared first on realestate.com.au.

/0 Comments/by

Community and lifestyle at the forefront: The game-changing new option for Sydney renters

Sydney’s rental scene is experiencing a revolution—with Build to Rent developments offering a different approach to city living and Indi Sydney is the first to make waves in the CBD.

Sydney’s rental landscape is changing rapidly, driven by rising demand, limited housing stock, and a new generation of renters who expect more from where they live.

In this evolving market, a new offering has emerged which has been embraced by international cities: Build to Rent.

Indi Sydney is the first of its kind in the Sydney CBD, a purpose-built Build to Rent residence located in the heart of the city.

With flexible leases, customisable interiors, on-site services, premium amenities, and a strong focus on community, it’s designed to empower renters with the kind of stability and lifestyle options once reserved for homeowners.

Indi Sydney is a Build to Rent residence in the heart of the Sydney CBD offering premium amenities and a renter-centred lifestyle experience.

Rentals with zero lifestyle compromises

Located on Pitt Street above the new Gadigal Metro station, just moments from Hyde Park and Town Hall, Indi Sydney comprises 234 thoughtfully designed one-, two- and three-bedroom apartments.

According to Courtney Raven, Operations Director at Indi, the idea of creating a Build to Rent offering in Sydney’s centre was born from a simple yet radical shift in perspective: putting renters first.

“The vision for Indi itself as a Build to Rent project was to put renters first in the renting process,” explained Ms Raven.

“Build to Rent really allows renters to feel like they’re in control.”

That control includes longer lease terms, the ability to personalise apartments, and keep pets on premises, options rarely available in the traditional rental market.

Indi Sydney units are being released in stages to foster a sense of community from the ground up.

“We release the bottom of the building first, and then we release the top of the building last,” explained Ms Raven.

“This means you’re not just living on an empty floor, but you’re surrounded by neighbours.”

What residents are loving about Indi Sydney

For Noah Meyerson, who recently relocated to Sydney from the UK, moving into Indi Sydney was a no-brainer.

“I love the general atmosphere, the design, the kind of the feeling that you get when you walk in the front door, the amenities and the people who work here—they’re the most impressive,” he said.

“There’s really nothing like it from what I can tell in Sydney at the moment—or at least in this part of Sydney, so it was a very easy choice for me.”

Mr Meyerson, who works remotely, makes regular use of the shared amenities on site, including the co-working space.

“Our whole team works remotely, so I don’t need to go into an office or anything—I have also made some connections from working in the co-working space,” he said.

For residents like Noah Meyerson, communal spaces like the co-working facilities provide unparalleled convenience.

A focus on community

Indi Sydney has put community first by not only including shared amenities throughout the building from the co-working space Mr Meyerson mentioned, to the pool, gym, saunas and rooftop dining areas, but also by adding a vibrant events calendar to the offering.

From Friday night rooftop sessions with live music and local food vendors to yoga, HIIT and strength classes, events are core to Indi Sydney.

“The number one thing that our residents find the most appealing is actually the community,” said Ms Raven.

“We really encourage you to get to know your neighbours by holding the events that we have, but it’s also the amenity spaces that we have.”

Mr Meyerson said the events and shared amenities have been a welcome addition to his rental experience.

“Because of the way that they encourage you to use the shared spaces, you really want to come out of your apartment and meet new people and be together with the community.”

Flexibility, diversity, and staying power

Build to Rent may still be new to Australia, but it’s attracting a diverse group of residents from families, downsizers, working professionals, students and expats.

Ms Raven said that expats have been particularly drawn to the building.

“They might have lived in a Build to Rent option in the UK for instance, and then they’ve relocated to Sydney, and they already knew about the offer and want to continue that sort of lifestyle,” she said.

With one-, two- or three-bedroom apartments, Indi Sydney is perfect for a wide range of renters.

Flexible and long-term leasing options have also been a major drawcard with some residents already signing up to longer leases, with at least five years possible.

“It’s something that’s often not possible with a traditional rental; having the option to choose how long you stay.

“Residents also like the fact that there’s one landlord for everyone and a service team which means you don’t need to call up an agent if something goes wrong, or you want permission to do something [in the home]—the service team can help you straight away,” she said.

The Resident Services team includes a dedicated maintenance expert so that residents can get help sooner if something needs to be repaired.

There is also a Resident Community Manager who organises community events, as well as both a concierge and parcel lockers for even more on-site support and safer parcel deliveries.

Apartments are available now at Indi Sydney and interested renters are encouraged to enquire with the Indi Sydney team by visiting the Indi website.

The post Community and lifestyle at the forefront: The game-changing new option for Sydney renters appeared first on realestate.com.au.

/0 Comments/by

Channel 7 backs Bulleen homes for My Reno Rules

Adrian Portelli has snapped up two Bulleen homes for Channel 7’s My Reno Rules, with the suburb set to take centre stage in the TV property battle.

Two modest Bulleen homes worth $2.7m are set to become the battleground for TV’s next reno war, with Adrian Portelli backing Channel 7’s boldest strike yet against The Block.

Property documents confirm Portelli’s company, Xclusive Tech Pty Ltd, bought the neighbouring houses at 54-56 Pinnacle Crescent and will also step in as principal sponsor of My Reno Rules.

The LMCT+ founder, who in 2024 famously bought all five Block houses at auction for just over $15m, is expected to play a more hands-on role than ever, with Seven banking on the series to change lives and give audiences a more relatable alternative to Nine’s property juggernaut.

RELATED: Costco announces new $74m Aus superstore

Heritage Bourke St icon seeks new life

Richmond reno sells for $3m+

Filming is due to start on September 26 and run until November 27, but sources told the Herald Sun the schedule had already been pushed back from early to late September after delays left the homes not “television-ready” and forced Endemol Shine to readvertise for producers when crew start filming for MasterChef Australia 2026.

“There’s been some real headaches behind the scenes,” the source said.

“The homes haven’t been television-ready on schedule, which put pressure on filming timelines and forced crew to juggle commitments.

Production delays saw My Reno Rules lose crew to the 2026 MasterChef Australia season, forcing a late recruitment drive before filming begins next month. Picture: Network 10

Belle Property and Hockingstaurt head of Victoria Anthony Webb says Bulleen is undervalued but primed for growth, making it the perfect testing ground for Portelli’s television gamble.

Belle Property/Hockingstuart Victorian director Anthony Webb said Bulleen was a clever choice for a show that wants to resonate with average Australians.
“Bulleen is a brilliant spot for a show like this,” Mr Webb said.
“It’s undervalued compared to its neighbours, with great freeway access and a strong community.

“Pinnacle Crescent is full of 1960s and ’70s homes ripe for clever renovations, the type of housing many Australians actually live in,”

Adrian Portelli purchased 54 Pinnacle Cres, Bulleen, for $1.38m, one of two neighbouring homes now set to feature on My Reno Rules.

Adrian Portelli also purchased neighbouring 56 Pinnacle Crescent for $1.375m, creating a side-by-side set for My Reno Rules renovations.

Mr Webb added that while suburbs like Bayside often steal headlines, Bulleen represented a more grounded backdrop.
“Sure, it doesn’t have the prestige price tags of Brighton or Toorak, but that’s what makes it fascinating,” he said.
“It’s relatable, it’s real, and it’s a market segment that everyday viewers can see themselves in.”

Prominent Melbourne buyers advocate Cate Bakos believes My Reno Rules will resonate more than The Block by choosing metropolitan Bulleen over volatile regional holiday spots like Daylesford and Phillip Island.

Built in the same 1960s-70s wave as much of Bulleen, 56 Pinnacle Crescent offers a retro foundation for a TV-ready transformation.

Melbourne buyers advocate Cate Bakos said the suburb gave Seven a safer play than prestige tourist spots like Daylesford and Phillip Island that have defined other reno formats.

“Bulleen is aspirational, but still very much metropolitan Melbourne,” Ms Bakos said.
“I’d much rather see a show focus here than a holiday destination where markets are volatile.”
Ms Bakos said the balance between television hype and property reality would be critical.

The home at 54 Pinnacle Crescent boasts classic 1960s-70s architecture, typical of the era Portelli’s teams will transform for the cameras.

Together with 54 Pinnacle Crescent, this Bulleen property forms the heart of Portelli’s bold new Channel 7 renovation gamble.

“If homes sell for more than they’re really worth, critics will be quick to point it out,” she said.
“That’s been The Block’s problem for years, over-inflated prices that don’t stack up once the cameras are gone.
“If My Reno Rules manages to stay closer to market value, it could be far more authentic and sustainable.”

The prominent buyers advocate said the local market fundamentals stacked up strongly in Bulleen.
“From a land value perspective, it’s a much safer bet,” Ms Bakos said.

Located on a quiet Bulleen street, 54 Pinnacle Crescent offers renovators a blank canvas for My Reno Rules’ first suburban showdown.

Property documents confirm 56 Pinnacle Cres was secured under Portelli’s Xclusive Tech Pty Ltd ahead of My Reno Rules filming.

“You’ve got long-term infrastructure like the North East Link that will improve connectivity, and a really loyal following of buyers.

“The only real drawback is the lack of a train station, but otherwise the suburb has enormous long-term appeal.”

The season will be hosted by Dr Chris Brown and judged by a new-look panel featuring former Block favourite Neale Whitaker, buyers’ agent Simon Cohen and interiors stylist Julia Green.

Yet the auction format looms as a gamble.

The $16bn North East Link project is tipped to reshape Melbourne’s northeast, with prominent Melbourne buyers advocate Cate Bakos saying the project will boost Bulleen’s appeal. Picture: Nearmap

Channel 7 has unveiled its My Reno Rules hosts and judging panel, who will guide contestants as the network challenges The Block’s dominance.

Unlike The Block, which films auctions on Saturday and airs them the next night, industry chatter suggests My Reno Rules auctions could be prerecorded and broadcast up to six months later.

“If Seven does go down that path, it will be catastrophic for leaks,” one insider said.

“The suspense is what makes The Block unmissable, and if the ending is known months in advance, that magic could be lost.”

My Reno Rules is slated to air Sunday to Tuesday nights in 2026, with Bulleen’s quiet streets set to play host to Seven’s boldest bid yet for renovation television supremacy.

Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.

MORE: Female auctioneers shake up Melb market

Why St Kilda East is Melb’s best bargain

Richmond reno sells for $3m+

david.bonaddio@news.com.au

The post Channel 7 backs Bulleen homes for My Reno Rules appeared first on realestate.com.au.

/0 Comments/by

Trump fires Lisa Cook in latest move to pack Federal Reserve with supporters

President Donald Trump fired Federal Reserve Governor Lisa Cook Monday evening after calling for her resignation last week over allegations of mortgage fraud. The move further consolidates Trump’s power at the Fed, which has traditionally been an independent organization shielded from overtly political actions.

Cook, who was appointee to the seven-member Federal Reserve Board by former President Joe Biden, was targeted by Federal Housing Finance Agency (FHFA) Director Bill Pulte last week. Pulte accused Cook of mortgage fraud and called on Attorney General Pam Bondi to investigate Cook’s purchase of two houses in 2021.

By claiming that both houses were bought as a primary residence, Pulte said Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.”

But no formal charges have been filed by the Department of Justice against Cook. In the letter firing Cook, Trump cites the criminal referral from Pulte to Bondi as giving him sufficient cause to fire her, although the FHFA director does not play a law enforcement role. Trump stated that as set forth in that referral, “there is sufficient reason to believe you may have made false statements on one or more mortgage agreements.”

Trump wrote: “The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve. In light of your deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity.”

Trump has been battling Federal Reserve Chair Jerome Powell over interest rates since his reelection. In April, he began to openly say he could fire Powell. But the negative reactions of the financial markets each time the president has suggested he would fire Powell (first in April and once again in July) has caused him to look for alternatives. He now seems intent on replacing members of the board of governors with his supporters.

On Aug. 1, Fed Governor Adriana Kugler, another Biden nominee, announced her resignation, ending her term almost six months early.

“The writing was on the wall two months ago,” HousingWire Lead Analyst Logan Mohtashami said Monday. “Trump wants lower rates, and he will put as many of his own people in the Fed chamber to get the votes to go against Powell. The numbers are growing in his favor against Powell now.”

Cook had refused to resign under Trump’s pressure.

“I have no intention of being bullied to step down from my position because of some questions raised in a tweet,” she said in a statement. “I do intend to take any questions about my financial history seriously as a member of the Federal Reserve and so I am gathering the accurate information to answer any legitimate questions and provide the facts.”

/0 Comments/by

NRL gun’s quiet $1.1m side hustle

Kotoni Staggs has setting the kind of leadership example the Broncos are liking.

Forget flashy cars and wild nights, NRL Broncos’ $800k man, 26-year-old Kotoni Staggs is part of a growing cohort hitting beast mode off-field in a lucrative side hustle.

While some of his peers splash out on luxury toys, Staggs has turned his eye to bricks and mortar, joining millions of Aussies riding the housing boom – and showing young players a smarter way to play the long game.

MORE: Shock $234m peanut butter crunch hits Aus farms

NRL player Billy Walters’ massive payday as he steps in for Mam

Kotoni Staggs after scoring a try against the Dolphins at Suncorp Stadium. Picture: NRL Images.

The 26-year-old, crowned ‘Best Back’ for the Broncos 2024 season before re-signing on an estimated $800,000 a season ticket through to the end of 2028, is sinking millions into real estate investments.

Staggs’ off-field success is tied to Brisbane’s own pandemic surge, with the two properties he shelled out $2.64m for jumping in value by a further $1.1m without him lifting a finger.

The first in Upper Kedron has risen $560,000 since he bought it for $930,000 in the midst of the pandemic in September 2021, while the second has jumped $450,000 in two years to a high estimate of $2.16m.

And the capital gains are just the start of his passive income, with $41,600 in annual rent also coming off the Upper Kedron home – a figure which is now set to rise to $43,160.

MORE: Hidden fortune: Aus cleaners’ $15k, Banksy find

Big Aus bank slashes rate lower than RBA call

Broncos

Staggs at Brisbane Broncos training. Picture: Richard Walker

Staggs, who has been a landlord since he moved into the Hendra home renting out the Upper Kedron property, has upped the rent by just $30 a week in two years to $830/week.

He could be making substantially more though, given rental estimates put his potential income off the property at $874 a week to as high as $961 a week.

Given his surge in property value, Staggs is a prime candidate for more investment properties soon, especially as his circa $800k pay packet is just $200k shy of Brisbane’s median house price now.

He has bought well, with his real estate letting agent Cherry Tuando of Brisbane Realty Group describing his Upper Kedron property as being in a prime pocket “surrounded by quality residences on generous blocks with wide street frontages”.

MORE: $18k fine: Common bin act could cost you

Aus landlord’s epic council battle ends in demolition

Staggs is hitting beast mode on field and off as well. Picture: NRL Images

The home has an open-plan kitchen, family, and dining area with a gourmet kitchen, double lockup garage with remote doors, drive-through garage access to the backyard and a concrete pad ideal for camper trailers, tinnies, or jet skis.

“This home offers a relaxed, low-maintenance lifestyle without compromising on space or style – with the added bonus of backing directly onto a nature reserve.”

Staggs, who was described by the Broncos as having “explosive power and line-breaking ability”, made his NRL debut over seven years ago in 2018.

MORE REAL ESTATE NEWS

The post NRL gun’s quiet $1.1m side hustle appeared first on realestate.com.au.

/0 Comments/by

Pizza Bite owners sell Salisbury Heights family home

The Salisbury Heights home of a local business couple who support the homeless has been snapped up in a multimillion-dollar deal.

Les and Michelle Hanna, who own Redwood Park business Pizza Bite, sold their five-bedroom house at 11 The Outlook for $1.255m at auction.

The Hannas are known for donating meals and other items to support Adelaide’s homeless community through their business.

MORE: ‘Almost essential’: luxury feature now a must-have

The Salisbury Heights property at 11 The Outlook sold under the hammer for $1.255m.

The property belonged to the owners of Pizza Bite.

Nearly 100 people attended the auction.

They extended that generosity on auction day, providing pizza to the nearly 100 prospective buyers and onlookers who attended.

Selling agent and auctioneer Sam Doman, of Ray White Tea Tree Gully, said there was “an amazing vibe” on the day.

“The whole street came out,” he said.

“All the friends and neighbours were there. It was a real community moment.”

Mr Doman said the buyers, who saw the house for the first time on auction day, were local.

“All the (prospective) buyers loved the family vibe of the house,” Mr Doman said.

MORE: SA auctions heating up ahead of spring

The owners build the property 20 years ago.

It was a family home that hosted many milestone celebrations over the years.

A local couple bought the property.

“The kitchen is central to the living and entertaining area, it’s a home that has been designed for family life.”

The Hannas built the house 20 years ago and over that period have raised three children there and hosted many gatherings.

Mr Hanna said leaving the property was emotional.

“Two of our kids had their weddings here – we had the drums going and catered for over 100 people in the backyard,” he said.

“We had so many good times, catering vans and all.”

The couple have moved a few suburbs over into a smaller property.

The post Pizza Bite owners sell Salisbury Heights family home appeared first on realestate.com.au.

/0 Comments/by

Essendon Hamptons home sells for $3.04m at auction

Essendon’s Hamptons-inspired retreat at 46 Market St sold for $3.04m after a bold relaunch delivered the Melbourne’s top reported auction result on Saturday.

A luxury Hamptons-inspired home in Essendon has stormed to a $3.04m sale, smashing its price guide.

The five-bedroom residence at 46 Market St had $2.55m-$2.75m price hopes, but soared past expectations after three bidders battled it out on Saturday.

The sale reflects renewed momentum in Melbourne’s prestige market after a flat winter, with Essendon once again proving a magnet for family buyers chasing scale and lifestyle in the inner northwest.

RELATED: Female auctioneers shake up Melb market

Why St Kilda East is Melb’s best bargain

Designer’s stunning Melb $2.7m sanctuary revealed

The home had been listed earlier in June, but with demand for high-end homes subdued, the vendors and their agent made the call to pause the campaign.

Jellis Craig Moonee Valley director Christian Lonzi said relaunching ahead of spring brought a dramatically different outcome.

“The first time around, the higher end of the market just wasn’t firing,” Mr Lonzi said.

“This time we had five serious parties circling and three stepping up to bid on the day.

The five-bedroom Essendon home was custom-built by its owner, a registered builder, and still presents like new eight years on.

Stone benches, integrated appliances and a butler’s pantry with an extra premium appliances elevate the home’s Hamptons-style entertainer’s kitchen.

It became clear the timing was right, and the property itself being such a stunning near-new build really shone,” Mr Lonzi said.

The sellers, who built the property themselves about eight years ago, are registered builders and crafted the home with a level of detail that set it apart.

Interiors combine Hamptons charm with modern sustainability.

Oak floors, coffered ceilings and white wainscoting give the residence character and warmth, while energy-efficient touches include double glazing, a solar array, and an battery system that will slash utility bills for the lucky buyer.

The north-facing lounge flows seamlessly onto the pool and pergola, creating a resort-style hub for family living and entertaining.

The main bathroom pairs a freestanding soaker tub with sleek finishes, bringing spa-like luxury to everyday family living.

The two-storey design includes a ground-floor master suite with walk-in dressing room, a teenager’s retreat upstairs, and a professional home office.

The kitchen, complete with stone benches, cooker, butler’s pantry and integrated appliances, flows to expansive living and dining areas bathed in natural light.

Outdoors, the north-facing yard backs directly onto parkland and offers a solar-heated pool, pergola dining space and low-maintenance gardens — a rare combination of privacy and open views that added to the property’s appeal.

Double vanities and walk-in showers give the home’s bathrooms both style and function, reflecting the property’s high-end craftsmanship.

A teenager’s retreat upstairs offers extra space for families to spread out, complementing the home’s multiple living zones.

Mr Lonzi said the standout result was testament to strategy and trust between agent and sellers.

“It was a leap of faith for the owners to take the property off the market earlier this year, but they backed the strategy,” he said.

“Timing is everything in real estate, and this was a textbook case of aligning with market confidence

Across Melbourne, clearance rates have lifted as lower interest rates, improved buyer sentiment and the traditional spring build-up combine to reignite competition.

A professional home office at the front of the property makes the residence ideal for modern work-from-home lifestyles.

Mr Lonzi said conditions were primed for more headline results.

“For buyers, my advice is don’t wait too long, competition is tightening,” he said.

“For sellers, this is the moment many have been waiting for with improved sentiment, rate relief and seasonal demand all lining up.”

Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.

MORE: Rotting relic: $1.6m Melb wreck

X-rated move Block stars make for attention

Wendy’s joins Bunnings in secret takeover

david.bonaddio@news.com.au

The post Essendon Hamptons home sells for $3.04m at auction appeared first on realestate.com.au.

/0 Comments/by

Not a silver bullet: Where the first-home buyer 5% deposit scheme could backfire

Property experts have warned that an extended government housing scheme will drive up property prices, meaning first home buyers are only going to be paying more for their first home.

Housing industry experts are warning that Labor’s decision to bring forward its expanded low-deposit scheme remains a flawed plan that will only drive up the cost of homes.

The Home Guarantee Scheme allows first-home buyers to enter the market with a 5% deposit while also avoiding Lenders’ Mortgage Insurance and is attracting criticism that it will put properties even further out of reach for many.

First-home buyers will be able to get onto the property ladder with a 5% deposit from October, regardless of how much they earn. Picture: supplied

The federal government this week announced that the expanded scheme would be forward to start from 1 October, 2025, rather than from next year.

Tens of thousands of dollars will be knocked off the up-front costs of purchasing a first home, with income caps for applicants removed and property price caps expanded to better align with skyrocketing home prices.

Supply challenges remain

Kusher Consulting director Cameron Kusher can see issues with the scheme and says that while first home buyer grants were handouts of taxpayer money, this scheme has taxpayer funds directly underwriting property purchases; this disincentivises lower housing prices and maintaining the status quo of higher housing prices.

“There will be no income caps, so people that have a sizeable deposit and don’t need this assistance will be able to use just a 5% deposit, avoid LMI and purchase a more expensive property,” he says.

Mr Kusher explains that this is more demand-side stimulus occurring at a period where prices are rising and interest rates are falling, which is expected to lift housing prices even further.

“It’s also another intervention to create more buyers at high housing prices, rather than addressing supply challenges that lead to higher housing prices,” he says.

“Because this scheme is likely to lead to higher housing prices, as we’ve repeatedly seen with first home buyer incentives, it is likely to result in governments having to come up with more significant purchasing support for future cohorts of first home buyers.

“That looks as if it will be even more tax-payer support in the future, more shared equity buying, and potentially lower equity purchases.”

Kusher Consulting director Cameron Kusher says first home buyer incentives always lead to higher home prices. Picture: supplied

Driving up demand

The Green Party have been quick to criticise them scheme, saying the Albanese government’s plan won’t solve the root issues of the housing crisis.

The party instead wants to see the government wind back tax discounts for wealthy property investors that lock our first home buyers and force rents to skyrocket.

“This is a furphy designed to sound good, but actually will continue to drive up house prices, turbo-charging higher prices and bigger debts for first home buyers,” senator Barbara Pocock says.

“People will still be borrowing 95% of their mortgage, and with the median property values at eight times the typical annual household income, that leaves households highly vulnerable to huge repayments.”

The Australian Greens says bigger debts for first home buyers will follow the schemes’ start. Picture: Getty

She called for better action on housing, including winding back tax breaks for wealthy property investors and building affordable houses in the places where Australians need them.

“Our tax system rewards wealthy property investors and pushes up prices,”she says. “Every day that negative gearing and the capital gains tax discount stay in place is another day that first home buyers are outbid by property investors at auctions around the country.”

Crunch the numbers

While it’s good news that scheme has been bought forward after the election promise was announced in May and then was delayed, REA Group senior economist Anne Flaherty agrees that the policy won’t help add to the critical issues around the supply of new homes.

REA Group senior economist Anne Flaherty says first-home buyers need to make sure they can actually afford what they’re buying. Picture: supplied

Ms Flaherty explains the policy will in fact drive up new home buyers looking come October, right in time for the spring selling season.

The announcement of the scheme back in May has already led to increased buyer demand and fuelled buyer momentum, alongside the three cash rate cuts the Reserve Bank of Australia has handed down since February.

Ms Flaherty urged first home buyers do crunch their numbers, do their homework and be certain that they are bidding for property they can actually afford to buy.

“It’s important to factor in what can you reasonably afford to pay,” she warns. “Banks are still doing their due diligence. They’re not just giving out loans to anyone who can get a 5% deposit.”

“Buying your first home is a major milestone for a lot of people and it can be an extremely stressful process. Make sure you get the help of experts to help you make a good decision, whether that be a buyer’s advocate or a mortgage broker.

“There are a lot of people out there who can help take the stress out of the process, so do your research and make sure you speak to the appropriate people,” she adds.

The potential for large crowds of new home buyers to turn up to inspect homes for sale from October when the scheme starts is another concern.

“This could in fact inflate levels of anxiety and urgency as buyers feel pressured to make an offer quickly in fear of missing out due to the increased competition,” Ms Flaherty says.

“When buyers overwhelmingly feel that home prices are going to rise, they may be more willing to pay a bit extra today because they anticipate that the value of the home will be higher in 12 months’ time.”

Buyers circling the market

Meanwhile, the Westpac-Melbourne Institute Consumer Sentiment posted solid gains in August, revealing that consumers are less anxious about finances and feel cautiously positive about the economy.

The report also revealed that home buyer sentiment has grown by 10.5%, with consumers still bullish on prices. 

The median home price in Australia is currently $827,000, according to PropTrack, meaning an average 5% deposit needed is $41,350. 

This article first appeared on Mortgage Choice and has been republished with permission.

The post Not a silver bullet: Where the first-home buyer 5% deposit scheme could backfire appeared first on realestate.com.au.

/0 Comments/by