A return to Adelaide’s traditional seasonally-led buying and selling cycle has caused a lull in the property market, but it’s not expected to last long.

Property experts say it has been the quietest winter period since the start of Covid when demand rapidly accelerated and prices skyrocketed.

It comes as latest PropTrack figures show total listings remained relatively stagnant in the year to August (up just 0.1 per cent) compared to the same time the previous year, while new properties to the market were down 10 per cent.

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Meanwhile, SQM Research data for the same period shows listings were up 2.1 per cent on the previous year to 8363 in August, while new listings were down 5 per cent, with 3856 hitting the market in August.

OC executive director Nathan Casserly said several factors had caused people to hold off on buying and selling, including travel to warmer places during winter.

“I think we had quite a lag and long recovery from the federal election, the US election and the effects of global conflict like tariffs being thrown around, the creates uncertainty,” he said.

“We definitely feel like we’ve seen a lag and maybe normalisation from a seasonal point of view.

“This winter felt like the most normal or dormant since Covid.”

Mr Casserly said his agency was already seeing that change.

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“We have seen some increase in buyer numbers in the last two to three weeks,” he said.

“We might see more stock coming on the market through the school holiday period.

“If interest rates are reduced too, that confidence does see more transactions.”

He said sellers’ price expectations likely weren’t the reason total listing numbers remained relatively unchanged despite new listings lagging as they didn’t seem to be any higher than normal.

“If buyers and sellers could agree on price we probably wouldn’t need real estate agents to be mediators,” he said.

REA Group senior economist Eleanor Creagh said the numbers were reflective of the fact that conditions in Adelaide were normalising after an extended period of exceptional growth.

“However, Adelaide’s market is still under-supplied,” she said.

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“Even with total listings flat on August 2024 levels, Adelaide’s for sale stock is still about half its pre-pandemic level, which keeps competition elevated and supports prices.

“New supply is softer compared to August 2024, but turnover hasn’t accelerated enough to drain the pool of total listings.

“The result is stable total listings but at a historically low level.

“For buyers, that means similar choice to last year but far less than 2019.

“For sellers, it means pricing power remains intact, provided demand holds.”

The post Adelaide’s property market normalising after huge growth appeared first on realestate.com.au.

A Bathurst homestead built in 1832 by the grandfather of the founder of Raine & Horne has been offered for sale for the second time in almost two centuries.

Considered one of Australia’s most historically significant estates, 720 Vale Road, Orton Park, was built by Captain Thomas Raine, who was the grandfather of Tom Raine, who co-founded Raine & Horne with Joseph Horne in 1883.

Built with the help of convict labour, ‘Rainham’ has stood the test of time and during its lifetime it has served as an inn for gold rush travellers, a hub for entrepreneur William Tremain of Tremain’s Mill fame, and was linked directly to the railway line in the mid-1800s.

Set on a 3lha landholding, the six bedroom, one bathroom Georgian colonial manor has a price guide of $2 million.

Angus Raine, Raine & Horne executive chairman and great-great-grandson of Captain Thomas Raine said he was a pioneering merchant, explorer, and pastoralist.

“And here, on the fertile soils of Bathurst, he built Rainham — a homestead that would shape local history for generations,” he said

Rainham remained in the Raine family until 1854, just before the great Bathurst gold rush, when it was sold to the Boyd/Richardson families, who owned it until 2012.

In 1969, Rainham was recognised by the National Trust of Australia as a “home of historical interest”.

Sales agent Grant Maskill-Dowton, from Raine & Horne Bathurst said Rainham was more than just a home — it was a time capsule of colonial Australia.

“It is pretty unique, pretty special – it’s unique in lots different ways,” he said.

“The locality and acreage size is probably as unique as the building itself.

 “The property offers exceptional bones, while presenting a unique opportunity for buyers with a passion for heritage to further develop and imagine a truly historic estate.”

Vendors Richard and Suzy Miller bought Rainham in 2014 and have carried out meticulous restoration works and renovations to breathe new life into the homestead.

“When they bought it, it was in a very, very different state of repair,” Mr Maskill-Dowton said.

“It needed a lot of work just to make it habitable, and I think probably back then as well, although it is only 11 years ago, people weren’t as interested in older properties on that acreage size that close to town, whereas now it’s become a bit of a trend to have a good history.”

Enhancing the property’s water supply and restoring the original Southern Cross windmill, installing new bores and tanks and completely rewiring the residence are among the works the Millers completed.

“The estate features solar power and fertile paddocks suited to grazing or lucerne, while its irrigated gardens, glasshouse, and shade house are framed by the timeless elegance of the homestead,” Mr Maskill-Dowton said.

Interest in barely 24 hours of Rainham hitting the market has been strong, and Mr Maskill-Dowton said it would appeal to an array of buyers from history lovers, tree-changers, lifestyle buyers, or  even commercial operators.

“I think the standout appeal is that it is untouched in a cosmetic form (and) from that era to still be standing, in its own right is pretty amazing,” he said.

“It shows the calibre of the build, and I think that’s something that you really can’t appreciate unless you’re on site in the property.” The home is set for auction on November 6.

The post Historic Bathurst homestead ‘Rainham’ selling for second time in 200 years appeared first on realestate.com.au.

Buyers are snapping up the chance to secure a residence in Elements Budds Beach, in one of the Gold Coast’s most closely held beachside enclaves.

Developed by McNab, one of Australia’s most awarded and trusted construction companies with over 30 years of experience, interest in Elements remains high.

“We’ve had an overwhelming response from buyers, with 80% of the coveted Azure Collection—two- and three-bedroom residences—already sold, says Michael McNab, Executive Chairman of McNab.

With only a handful of two-bedroom residences remaining, and three-bedroom homes with stunning water views starting from $2.26m, opportunities in the Azure Collection are now limited.

The exclusive Horizon Collection, featuring half-floor, four-bedroom residences priced from $3.962m, is also selling quickly, with 30% already purchased through a VIP campaign.

The Gold Coast’s best-kept secret

Officially part of the Surfers Paradise suburb, Budds Beach is a micro-neighbourhood that feels more like a small beachside town.

Known for its holiday homes and close-knit community, Budds Beach has remained a favourite and kept its local charm even though it is only moments away from the heart of the Gold Coast.

“It’s an enclave you would only discover if you lived locally,” says Mr McNab.

“It’s a pristine riverfront beach with tree lined streets and village-style cafes just seven-minutes’ walk from the iconic oceanside of Surfers Paradise.”

Sitting along the Nerang River, Budds Beach residents enjoy both the secluded, calm-water beach and the nearby reserve.

The area has also seen very few developments like Elements in recent years, with the tower being the first of its kind in more than a decade.

“Budds Beach is incredibly tightly held, with very few properties exchanging hands in the past five years,” says Mr McNab.

“Once you see it for yourself, you can understand why.”

Beach-side living meets boutique design

Designed by renowned architects Cottee Parker, all Elements residences are crafted with luxury finishes and carefully curated interiors that are the perfect counterpart to Budds Beach’s relaxed, coastal lifestyle.

The crowning achievement of Elements is the Horizon Collection, the exclusive residences that occupy the building’s upper levels.

“These spacious, half-floor residences include four bedrooms plus a multi-purpose room, three bathrooms, and two car spaces” says Mr McNab.

With sculptural, natural stone islands and coastal-inspired joinery in the kitchens, luxury is embedded into the design of every Horizon Collection apartment.

Additional touches include integrated Miele and Fisher & Paykel appliances, fully appointed butler’s pantries and opulent wine bars complete with built-in wine fridges.

Each residence also features expansive balconies with built-in BBQs.

These spaces are designed for seamless indoor-outdoor living and to showcase one of Elements most desired features: the spectacular views.

“There’s uninterrupted outlooks in every direction—serene river views to the north, sunsets over the hinterland to the west, and the sparkling Gold Coast City skyline to the south,” says Mr McNab.

“These views are protected thanks to surrounding low-rise zoning and neighbouring parklands.”

Panoramic amenities

Elements residents can enjoy the breathtaking views from the full-floor amenity space that crowns the tower.

This rooftop retreat features 360-degree views, a horizon-edge pool overlooking the stunning coastline, state-of-the-art gym, and wellness zone that includes a sauna and ocean-view hot plunge pool.

Beyond wellness, the rooftop is also perfect for entertaining family and friends with formal and alfresco dining areas, teppanyaki bar, BBQ facilities, and private terraces.

“These thoughtfully designed spaces give residents the opportunity to unwind, entertain and take in the views, all in their own purpose-built retreat at home,” says Mr McNab.

The world-class amenities are just one of the reasons that Elements Budds Beach is selling fast, with only 23 residences remaining.

Mr McNab explains that this high amount of interest is coming from the many kinds of buyers that are choosing Elements Budds Beach and its unique Gold Coast lifestyle.

“We’re seeing a discerning mix of owner-occupiers, downsizers, and investors,” he says.

“Buyers are attracted to Budds Beach’s quiet charm and close proximity to world-class dining, entertainment, and beaches.”

The post Beachside Gold Coast project in its element with $100m already sold appeared first on realestate.com.au.

The non-qualified mortgage market has experienced significant growth since its introduction nearly a decade ago. 10 years in, credit ratings agencies regularly release performance metrics for investors, which provide remarkable insight into this extremely versatile asset class.

In a recent default study on non-QM performance over the years, for example, KBRA analysts note that non-QM loans faced tremendous macroeconomic uncertainties, from the recent era of high interest rates to the COVID-19 lockdowns, and yet continue to perform above and beyond expectations. 

Why is non-QM earning its place at the mortgage dinner table?

Let’s examine the current landscape of borrowers in the market and explore why Non-QM loans are proving to be such an attractive option for them. Generally speaking, we’re observing a diverse group of individuals and businesses seeking financing solutions that traditional mortgage products may not accommodate. This includes self-employed individuals with fluctuating incomes, real estate investors with multiple properties, and those who may have experienced a past credit event but have since re-established financial stability.

The appeal of Non-QM loans stems from their inherent flexibility. Unlike Qualified Mortgages, which adhere to strict DTI (debt-to-income) ratios and income verification methods, Non-QM loans offer alternative documentation options. For example, a self-employed borrower might use bank statements to demonstrate income, rather than relying on traditional tax returns that might not entirely reflect their accurate financial picture. Investors can benefit from debt service coverage ratio (DSCR) loans, where the property’s rental income is a key factor in qualifying, rather than their personal income. This adaptability allows lenders to assess risk based on a more holistic view of the borrower’s financial capacity and the specific nature of their investment or income stream.

Furthermore, Non-QM products can cater to those with unique credit profiles or those who may not fit the conventional “prime” borrower mold. This doesn’t necessarily imply higher risk, but rather a different risk assessment framework. For many, Non-QM represents a vital pathway to homeownership or real estate investment that would otherwise be inaccessible, fostering financial inclusion and supporting a broader segment of the market.

The emergence of influencers and the broader gig economy has fundamentally reshaped our understanding of traditional income sources. In this evolving landscape, individuals are increasingly less reliant on conventional employment models that offer fixed salaries and long-term contracts. Instead, a significant portion of the workforce, particularly younger generations, is turning to alternative, more flexible income-generating avenues. This shift necessitates a new approach to financial strategy, one that acknowledges and actively capitalizes on these diverse and often unconventional streams of revenue.

Cash flow analysis has become the cornerstone of income determination in the modern financial landscape. The world has evolved, and with it, the traditional notions of income have expanded to include a plethora of non-traditional forms. For example, consider the burgeoning gig economy: income is no longer solely derived from a consistent salary, but can originate from diverse sources such as ride-sharing services like Uber, freelance work, or short-term contract assignments. 

These alternative income streams necessitate a more nuanced approach to financial assessment, moving beyond conventional income verification methods to a more dynamic and comprehensive evaluation of an individual’s overall cash flow. This allows lenders and financial institutions to accurately gauge a borrower’s ability to repay, even if their income doesn’t fit the rigid molds of the past.

Our core customer base is comprised of individuals seeking non-QM products. With a decade of market performance data, we can confidently state that these loans have consistently demonstrated strong performance. While I don’t have the exact comparative figures readily available, our internal analysis and historical trends clearly show that this paper has performed robustly, often rivaling or even exceeding the stability of conventional mortgage products. This sustained performance over a significant period underscores the viability and reliability of the non-QM market, providing confidence to both lenders and borrowers alike.

Lower interest rates are unequivocally beneficial for our business operations and we look forward to the widely anticipated September cut from the Federal Reserve. After all, there’s no room for doubt that a decrease in rates will stimulate growth. Specifically, it will revitalize the refinance market, allowing more homeowners to adjust their existing loans to more favorable terms.

Furthermore, as rates decline, we anticipate attracting a significantly larger pool of potential borrowers. This is primarily because lower interest rates translate directly into reduced monthly payments on the interest side of their mortgages, making homeownership more accessible and affordable. While we acknowledge the persistent challenges related to property taxes and insurance costs, those issues fall under a separate purview. They are distinct from the positive impact of declining interest rates on our core lending activities.

My advice to LOs is to keep cultivating and nurturing new relationships within the real estate sphere. Moreover, there is tremendous value in maintaining strong connections with realtors who prove to be steadfast friends and colleagues, regardless of market conditions. These efforts will go a long way toward expanding your network and developing your existing business, not just today, but also well into the future.

In parallel, we are actively engaging with our broker community on the wholesale side of our operations. Our experts in this area can provide detailed insights into the specific communication strategies and diverse channels we utilize to foster these crucial relationships and drive new wholesale business.

Marc Halpern is the Chief Executive Officer of Foundation Mortgage.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

Applying smart security protocols throughout every transaction is an essential part of your role as a real estate agent, new Inman contributor Samantha Simpson writes.