Median and average sales prices in Brooklyn and Queens reached new records in the third quarter, fed by increases in sales.

Brooklyn’s median sales price crossed the $1 million mark for the first time. It rose 7.7 percent to $1,050,000 compared to the third quarter of 2024, according to the latest edition of the Elliman Report, which covered co-op, condo, and one-to-three family house sales for Brooklyn and Queens.

The number of deals increased for the fourth time, surging by 7.1 percent and total listings were up 16.3 percent versus the year-ago quarter. New condo listings however were down 24.7 percent.

All-cash deals represented nearly half of sales, wrote Jonathan Miller, president and CEO of appraisal firm Miller Samuel and author of the report.

In Queens, a decline in listings curbed deals, Miller wrote. Inventory has been declining on an annual basis since early 2023, he said. Listings were down 23.9 percent in the third quarter.

The median sales price in Queens increased 2.1 percent to $730,000 compared to a year ago. Sales were down by 1.6 percent annually.

Buyers meet the ‘mansion’ tax

Although many properties sell for $1 million or higher in Brooklyn, now that the median price has surpassed that threshold, it means a lot more Brooklyn buyers are facing an additional one-time cost when they close.

The mansion tax kicks in when you buy a New York City apartment or single-family house for $1 million or more, no matter the size of the property. The fee starts at 1 percent of the sales price and rises in increments to 4.15 percent on sales of $25 million-plus.

Interest in smaller residences

Corcoran’s Brooklyn market report noted that buyers returned in the third quarter despite economic uncertainty and a steep drop in new development listings.

“While inventory remains tight, we’re seeing meaningful movement in more affordable segments and smaller residences,” said Michael Sorrentino, senior vice president and general sales manager for New York at The Corcoran Group.

New condo projects start closings

Sales and prices in Brooklyn were boosted in the third quarter as a result of multiple new projects that began closing units, said Coury Napier, director of research at SERHANT in his firm’s market report.

“Even as broader economic factors create friction, the borough’s depth of product and appeal to a wide buyer base continue to drive meaningful growth,” he wrote.

Brown Harris Stevens also released third quarter sales market reports for Brooklyn and Queens. 

Bess Freedman, CEO at Brown Harris Stevens, noted a rising stock market and lower mortgage rates helped fuel annual increases in deals as well as average and median prices in both Queens and Brooklyn.

In its Brooklyn sales market report, Compass noted that closings for houses $3 million and higher increased by 47 percent, “indicating significant demand for abundant space in desirable neighborhoods.”

 

A Gold Coast plumber has gone viral after uncovering a hidden plumbing issue that not only restored water pressure to a homeowner’s property but also served as a stark reminder for Australians to stay vigilant about potential leaks that could send water bills skyrocketing.

Shaun Ridley, the owner of Moral Service, a plumbing and electrical business, turned what seemed like a routine call-out into a gripping “plumbing treasure hunt” that has captured the attention of over 1.2 million TikTok viewers.

The video begins with Ridley investigating a homeowner’s complaint about weak water pressure.

“Yeah, that’s full pressure, that’s pretty weak,” Ridley can be heard saying off camera in a video posted to TikTok.

The homeowner explains that the water flow drops to a dribble whenever another tap is turned on.

Suspecting a faulty pressure reduction valve – an essential device that regulates water pressure to prevent damage to household fittings – Ridley began his search.

But this was no ordinary job.

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After inspecting the water metre and ruling out the obvious locations, Ridley grabbed a shovel and started digging near the council metre box.

“Oh, lads. Tell me I’m not … the best. Look at this,” he says excitedly.

Ridley then holds up the cover to a second valve box, hidden under the earth.

“It’s like a plumbing treasure hunt out here. Ah, man that feels good,” he declares.

The faulty valve was promptly replaced, restoring full water pressure to the property. However, Ridley’s discovery is more than just a feel-good story – it’s a cautionary tale for homeowners.

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Left unchecked, hidden plumbing issues like this can lead to leaks that waste thousands of litres of water and result in shockingly high bills.

Leaks, particularly those underground or in hard-to-access areas, are often silent culprits behind soaring water costs.

The soaring cost of water: A national concern

The viral video comes as Australians face mounting concerns over rising water bills.

In South Australia, for example, complaints about water services have surged, with the Energy & Water Ombudsman SA reporting 427 grievances in 2024-25.

More than half of these complaints were related to billing issues, while nearly a quarter involved water supply problems.

SA Water, the state’s primary water utility, has been under pressure to address these concerns. The utility has attributed the spike in complaints to “exceptionally dry conditions” that led to increased water usage.

However, the financial strain on homeowners is undeniable.

According to The Advertiser, average water bills in South Australia have risen by $85 annually to fund $1.5 billion in new infrastructure, and at least 55,000 customers owe a staggering $63 million in unpaid bills.

In Victoria, the average annual water bill for owner-occupier households has increase by around $32 in Melbourne, according to the Essential Services Commission.

Regionally, South Gippsland Water customers will see the greatest increase in their average bill, around $80 per year, while Barwon Water customers will see the least increase, at around $12 per year.

In New South Wales, the typical average household bill for water and wastewater services will increase by $168 or 13.8 per cent, including inflation this financial year, and then $77 or 5.1 per cent, plus inflation, each year on average until 2030.

This will see typical average household bills increasing from $1,220 in 2024-25 to $1,388 in 2025-26 and $1,695 in 2029-30.

For property owners, Ridley’s story is a timely reminder to stay proactive.

Regularly checking for leaks, monitoring water pressure, and scheduling professional inspections can prevent costly surprises.

As Ridley’s “treasure hunt” continues to trend online, it’s clear that his discovery resonates far beyond the Gold Coast.

In a time of rising costs and increasing pressure on water infrastructure, his story highlights the importance of vigilance and the value of skilled tradespeople in keeping our homes – and our budgets – intact.

The post Hidden plumbing issue reveals shocking truth about Aussie water bills appeared first on realestate.com.au.

AFL brothers Tom and Ed Langdon are lining up to kick another goal off the field, listing their South Melbourne house in one of the city’s most exclusive lifestyle pockets.

The pair, who share a combined 290 AFL games, were among football’s most recognisable siblings.

Tom, a Collingwood defender, was one of the league’s brightest prospects before a devastating knee injury cut his career short at age 26.

His 2018 Grand Final performance remains a career highlight, with many still calling him the Magpies’ best on ground that day.

Ed, his younger brother, has gone on to forge a decorated career as a premiership wingman with Melbourne.

The brothers are also channelling their energy into Lay Day Coffee, a boutique instant-coffee brand they run between Melbourne and Germany, where Tom now lives.

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Their South Melbourne property at 8 James Service Place has been a long-term investment, held for close to a decade and once used as their city base.

The double-fronted Victorian is freestanding on a wide corner 178sq m block — a rare find in the heritage-rich heart of Emerald Hill, steps from Albert Park Lake, MSAC and Clarendon St.

Jellis Craig Port Phillip director Max Mercuri said the home’s charm, light and location were driving serious buyer interest.

“The biggest selling point is definitely the location and the facade,” Mr Mercuri said.
“It’s an entry-level, double-fronted Victorian, freestanding on a corner block with brilliant rear access and all that beautiful period character South Melbourne buyers crave.”

The home features a grand arched hallway, three bedrooms, a central bathroom and a north-facing living and dining zone that opens to a red-brick courtyard crowned by a lemon tree.

“It’s surprisingly bright,” Mr Mercuri said.

“The rear faces north, so the afternoon light just floods through, you barely need to flick a switch.”

He said downsizers and young professionals were showing interest, drawn by its flexibility and lifestyle appeal.

“Downsizers love the single-level living and that walk-everywhere location,” he said.

“But younger families and professional couples are talking about future extensions – maybe adding an extra bedroom, bathroom or even a second storey down the track.”

Mr Mercuri said South Melbourne’s market had “come roaring back” this spring, with easing interest rates reigniting auction competition and renewed confidence among buyers.

The home is scheduled to be auctioned at 6pm on October 22, with a price guide of $1.6m-$1.7m.

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The post AFL brothers Tom and Ed Langdon’s South Melbourne house hits market appeared first on realestate.com.au.

Zen vibes take on a funky industrial edge at a Japanese-inspired warehouse conversion in Geelong West.

A 1920s steel fabrication workshop was the starting point for the unusual tri-level home featuring exposed roof trusses, a floating internal bridge and tranquil engawa garden.

Vendor Jann bought the three-bedroom house at 12 Wellington St, Geelong West, from architect Todd Palmer, who originally designed it for his own family.

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Unable to afford something of similar scale in Melbourne, she and her partner quickly fell for its quirky architectural features and unexpected treetop views.

She said the upper level was like being in a living nature gallery.

“We have really appreciated living there, I say that we have lived the hell out of the house.

Every day both of us have moments where we think ‘this is just so good living here’,” Jann said.

Though deceptive narrow from the street, the house is full of surprises beyond the stand-alone front studio that doubles as an entrance.

The main building, accessed via an open-air walkway, incorporates everything from two internal staircases to a sunken lounge and a Japanese tansu-style stepped sitting space.

Jann said the raked courtyard linking the two sections of the property added another special element.

“It has got an Asian feel to it and it’s really looks peaceful and energising,” she said.

“Nearly every single visitor has that wow moment when they come in through that home office/creative room and then catch sight of the courtyard.”

Personally, she loves the wall in the upstairs living area that features windows of all different dimensions.

“When you are inside the house it looks like you are looking out of picture frames,” she said.

“They are all different sizes and it really is like being in a living nature galley and looking out at nature among the treetops.”

A balcony off the dining area also offers views of Geelong’s city skyline.

Jellis Craig Geelong agent Malinda Leonard is handling the sale of the property, which has a $1.15m to $1.25m price guide.

She said she had never seen anything like it in Geelong West.

“The location is great obviously, being so close the CBD and train stations but it’s just very unique with the warehouse style,” she said.

“It’s so light filled and has great spaces and soaring ceilings … everything is on a grand scale and it’s beautiful.”

The post Zen-like Geelong West steel factory conversion hits the market appeared first on realestate.com.au.

A slice of Darwin’s golden mile is going to auction on Saturday, with an iconic Fannie Bay home hitting the market for the first time since it was built 75 years ago.

Selling agent Tony O’Neill of Property Shop Darwin said the home at 114 East Point Rd was a true rarity in the Top End market.

“There are only seven block (along this section of East Point Rd) with dual frontage and there hasn’t been one on the market for the last 22 years,” he said.

“When homes do sell, they normally sell off market.

“To get one on the market is unique.”

The 1340 sqm block has a 39m frontage on East Point Rd, 29m frontage on East Point Rd, a spacious house with plenty of character, a granny flat and just one neighbour.

The property was the family home of William and Darwina Fong, and their five children, Sandra, Des, Lance, Carlene and Bonita.

William was born around Katherine in 1921 and passed away in 2002 while Darwina was born in Darwin in 1930 and passed away last year.

Lance Fong said his father was working for his family’s soft drink factory when he asked the Territory surveyor, a regular customer, when land would be available at East Point.

“The surveyor came back a couple of weeks later and said ‘where do you want this block and I’ll cut it off for you’,” Mr Fong said.

“It was all scrub back then, so he had to clear it himself.

“Dad was wanting to get married to Mum and move onto the block, but Mum was too smart for that.

“She said, ‘there’s no way – you finish the house and then we get married’.”

Mr Fong said his father was just an everyday worker, but he built a sprawling family home, making the blocks himself from beach sand and gravel he acquired from the side of the Stuart Highway.

“Dad would borrow a ute and collect the gravel and beach sand, he handmade the blocks,” he said.

“He’d make so many hundred and then he’d pay the bricklayer to lay them.”

The house didn’t survived Cyclone Tracy but thankfully everyone inside – William, Darwina and their four younger children – did, though not unscathed.

Mr Fong said the house was fine until after the eye passed.

“We were sitting there waiting with the bathtub full of water, the radio with batteries,” he said.

“The wind turned and the front glass, which was still that plate glass at the time, started bowing in.

“Dad said go get a mattress and of course we do what he says.

“Then pop! The glass let go.

“It’s a wondering we didn’t get chopped up.”

Mr Fong said the front wall of the house caved in and his mother and younger sister were trapped in a bedroom.

Thankfully, the mattress they were on flipped them out of the way off the collapsing wall and likely saved their lives.

“Dad and my brother were trying to get into bedroom on the side,” Mr Fong said.

“My contribution was wedging the door open.

“We pulled them out, fed them through the door and we went into the little the foyer between the bathroom and toilet and sat there for hours.

“My sister we thought was badly injured, she was only 12 or 13 at that stage, and mum was sitting there worrying about my sister.

“We could hear the wind and the roof is gone and we stayed there until we could see the first signs of daylight.”

In the aftermath they heard cries for help and found an uncle pinned under a fridge up the road.

“He’d gone to the kitchen area to get something and the house has just exploded and he ended up under the fridge,” Mr Fong said.

A car was found and the injured were ferried to the hospital where it was discover Darwina and Bonita had both broken hips.

The pair were evacuated to Sydney while Mr Fong, his brothers and father secured the house.

Mr Fong said they were lucky to have a generator and a camp stove.

“So we had people coming very night for dinner,” he said.

“At some point Dad put a couple of these plastic orchids to trees at the front.

“One of the visitors came and said ‘you’ve still got flowers how’s that possible, Bill’ and he just laughed.”

The house was rebuilt with a new flat roof that became the iconic rooftop terrace people see as they drive down East Point Rd.

“Basically the layout is the same except for the columns to support the roof because it’s a flat roof now,” Mr Fong said.

“The terrazzo steps in the front and the main bathroom are original and the laundry is the same.

“They built the ensuite as a cyclone shelter, so that’s all reinforced.”

The main house has an open plan living and dining area, a family-sized kitchen, a main bedroom with ensuite and built-in robes, three more bedrooms with built-ins, a family bathroom and an internal laundry.

“There’s an odd looking room at one end that was Dad’s dark room,” Mr Fong said.

“One day Mr Barden from Barden’s Pharmacy came along with half a dozen rolls of film from someone visiting Darwin, and he said ‘Bill can process these for me, they’re leaving and they’d like to see if the photos tuned out all right’.

“Dad did them overnight and it grew from there.

“Mum took over and did developing and printing for at least 20 years.

“She’d be working in the middle of the night printing special orders.”

Mr Fong said his parents were very house proud.

“I can remember as a kid, Dad would enter garden competitions and before the judges came in we’d be running around picking up leaves by hand,” he said.

And the house was often the location of family get-togethers.

“In Dad’s family there were eight kids and in Mum’s family there were 11, so you can imagine the parties,” Mr Fong said.

Mr Fong said he grew up running amok with his siblings and cousins, with his father’s brothers also buying blocks of land along East Point Rd.

“Down the road across from my uncle’s house was a croc shooter,” he said.

“They always had (croc) skins hanging from the trees drying.

“We’d always be down at Racecourse Creek, that’s what we called it back then, and one day the croc shooter said, ‘don’t go down to the creek at the moment, I just go a big one out of there’.

“We knew if he was saying it was a big one, it must have been big.”

Mr Fong said at one point his family had a pet croc that lived in a 44-gallon drum and got to about 5ft before it was sold, and a host a wallabies as well.

“We’d have them in a potato sack with a hole in it on a coat hanger,” he said.

Mr Fong said with both his parents now gone, the family decided it was time for another family to call 114 East Point Rd home.

But saying goodbye to decades of family memories has been emotional.

“When I was getting the house ready for the sale, I’d sit on front steps there and I’d be asking everyday ‘Dad what do you reckon I should put the reserve at, help me out’,” Mr Fong said.

The property at 114 East Point Rd is going to auction at 10am on Saturday, October 11.

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