The Property Reflection - 7 Days
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What is the Sunday Week-in-Review format and what will this episode cover?
It's the Real Estate Podcast across every state, city and town of Australia.
And welcome to another episode of the Real Estate Podcast available on iHeartRadio every morning and also on Spotify and Apple and wherever you get your podcasts from. Well, it's another Sunday morning that has rocked along. Yes, the 28th day of August for 2022. And if you've been navigating over the weekend around property, I hope it has been a great weekend for you. Hopefully, whichever side of the coin you are on, whether it's buying or selling, that you got the greatest result. Coming up this morning we are shortly going to dive into the last seven days with the Sunday Rewind of the Week in Review. Now if you've missed any of the episodes last week we have a little bit of a snapshot of the best of them right here.
And if you're celebrating your birthday for the 28th of August, perhaps you were celebrating it last night. Have a great Sunday. You share it on the same day as Leanne Rimes. She is turning 39. And Shania Twain, she is turning 56. A couple of country singers, although Shania Twain wouldn't want to just be classed as a country singer. And also on this day in 1963, Martin Luther King Jr. delivers his I Have a Dream speech. It was at the Lincoln Memorial in Washington, D.C. And of course, it can be argued, have we learned anything from his speech all those years ago?
It's the main centre forecast with propertybuyer.com.au.
Well, I'll let you be the judge of that one. Let's have a look at your weather around Australia. First we go to Sydney and expecting a mostly fine and sunny Sunday. 21 is your forecast high. In Melbourne, look at that temperature, 20 degrees today, partly cloudy and it should be mainly dry. And in Brisbane, expecting a possible shower, 23 is your forecast top, and one or two morning showers expected for Perth today and your high of 17 degrees.
Grab your coffee and switch on your real estate breakfast every weekday morning from 6.30. It's your real estate weekend podcast in review.
It is a one bedroom. It is a one bathroom. So tell us what the purchase price was. What did you manage to achieve here?
We managed to sell it for $2,005,000. The reserve was $1,500,000. So yes, you're right, it still was a one-bedroom, one-bathroom. So an extraordinary outcome for an apartment of that size.
Wow. And is that some sort of a record? Oh, of course. So that's a new record for?
For Double Bay, for a one bedroom apartment in that area and certainly for a square metre each as well.
So how many square metres?
There were 75 internally and another 45 externally and then of course the car space of 13.
We're soon to be heading into spring. How much of a factor is that right now, do you think? Meaning, do you think that some people want to beat the spring rush and buy now when the temperature is a little bit colder?
My experience has really been that buyers tend not to be seasonal. It's more around, unless they're investors, it's more around when they have a need to find something. They don't sort of turn off their search in winter. It's just that unfortunately they have less choice because people are less inclined to put their properties on the market when they feel that perhaps their property isn't able to be shown off in the best light, the best sunlight or the best weather. I think that the year itself and the weather particularly has probably had the biggest impact on people wanting to go out and look at properties in the rain. And so obviously with a little bit better weather, we're finding that more people are venturing out.
And of course, finally coming back from overseas because without the COVID restrictions, we've really found that the majority of people have been absent and enjoying the sunshine on the other side of the world.
Enjoy your morning coffee. It's your Real Estate Weekend podcast in review.
So people have been making over $1 million in profit, $900,000, $800,000. Your recent reports looked at a profit breakdown from March of this year to July of this year. So let's start with breaking down some of those areas that really turbocharged a vendor's bank balance.
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Chapters
3 chapters
1
What is the Sunday Week-in-Review format and what will this episode cover?
0:02–9:57
2
What are today's weather forecasts for major Australian cities and why does it matter for property viewings?
9:57–13:13
3
How did a one‑bedroom Double Bay apartment sell for $2,005,000 and set a local record?
13:13–14:10
Speakers
2 identifiedMore from Aussie Real Estate Podcast
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Melbourne Property Market Distortion: First-Home Buyer Stamp Duty Cap Driving Price Pressure
Australia Housing Market Stability: Low Mortgage Arrears and Minimal Negative Equity Explained
Australia Property Prices Rising: Construction Costs, Materials and Fuel Driving the Market