Five Properties To Buy For $1 Million

PERTH: 134A Rosebery Street Bedford WA 6052

‘Go west’ Pet Shop Boys famously warbled, and looking at this central and affordable Perth pile, it’s hard to disagree.

A designer abode within easy reach of the CBD, coffee strip and with a pool? Little wonder many are leaving the east in search of affordable lifestyle offerings such as this.

Only eight years old, this two-storey affair offers bedroom upstairs – the main suite with generous sitting area, WIR and ensuite – with alluring living on the ground, inclusive of open-plan, designer living/dining/kitchen (the latter with Smeg appliances) as well as cinema room and neat study.

The downstairs seamlessly opens to a generous and decked outdoor alfresco area and the aforementioned in-ground pool. This is designer living well conceived – an energy-efficient home featuring solar passive design, ground floor concrete slab heating, brick wall insulation as well as commercial-grade glazing throughout.

Located just a 10-minute walk from the acclaimed Beaufort St cafe strip, the home rests opposite Catherine Reserve, with an abundance of schools, Galleria Morley and Inglewood shopping just moments away.

All offers presented by Friday April 9 at 5pm. The property is with Chris Pham of Remark Urban; urban.realmark.com.au

MELBOURNE: 7A/29 Queens Road Melbourne VIC 3004

With uninterrupted views across Albert Park Lake, Port Phillip Bay and the City Skyline, this is light-filled, central living at its best.

Boasting two bedrooms – the main with neatly held ensuite and exclusive, private balcony – the seventh-floor offering extends to another bedroom (which also leads to main, wrap-around balcony), well-appointed, granite kitchen and modern main bathroom as well as neat laundry and secure car park with lift access and storage cage.

The main living/dining rests independently of the kitchen and boasts timber flooring and exemplary views via floor-to-ceiling windows throughout.

Located in an alluring Art Deco-inspired building, enjoy private resident’s fully-equipped gym, heated indoor swimming pool and spa, expansive terrace overlooking Albert Park Golf Course and also building manager.

Located on the edge of the CBD, enjoy easy access to the Royal Botanic Gardens and Fawkner Park, with nearby trams on Toorak Road.

Asking $920,000 – $1,000,000 and listed with Gary Ormrod of Kay & Burton South Yarra; kayburton.com.au

SYDNEY: 49 Bestic Street, Rockdale, NSW 2216

With Sydney’s median house price well above the $1.2 million mark, you may be thinking it’s impossible to get a house close to the CBD for that mythical price.

Enter this charming 4-bedroom solid brick home in Rockdale, in Sydney’s south. Less than 15km or 20-minutes from the CBD, this expansive one-storey family home sees plenty of its original character features left behind such as decorative ceilings, a fireplace and polished timber floors.

Elsewhere, the home has been extensively modernised, with new kitchen and bathroom fixtures bringing the property into the contemporary age.

Further, the home is located on the ‘high-side’ of Bestic Street, which means the elevated back veranda, which flows on from the kitchen, gives far-reaching district views.

With Rockdale shops, train station and access to freeway connections all nearby, it’s a bargain in a convenient location.

Auction is April 10, price guide $1 million; bayview.century21.com.au

BRISBANE: 18 Power Street, Norman Park, Qld 4170

Moments from Brisbane CBD arrives this warm, inviting character home.

The 3-bedroom, 2-bathroom, 2-car garage sees French doors lead you into the lounge and kitchen area which is complete stone benchtops and Miele appliances

Here, an open plan living space is found upstairs with city views. The main living area sees polished timber flooring and high ceilings alongside a lounge room with built-in cabinetry.

The main living area is separated from the bedroom quarters allowing for a quiet space, with the main bedroom featuring an ensuite with double basins and walk-in wardrobe.

Importantly, Norman Park offers a list of local amenities you can’t pass up. Nearby cafes on Oxford Street in Bulimba alongside access to the CityCat into the CBD is coupled with elite schooling options all moments away.

The listing is with Emil Jeresic of NGU Real Estate, POA;.ngurealestate.com.au/

ADELAIDE: 2/108 Stephen Terrace, Gilberton, SA 5081

Situated in one of Adelaide’s most prestigious location comes this two-storey, 3-bedroom, 3-bathroom, 2 car garage home in stunning Mt Gambier stone.

Downstairs comprises a spacious open plan living and dining complete with a sleek modern kitchen, new appliances and walk-in pantry.

A double-height void to the second storey brings in natural light that is further highlighted by a gorgeous glass chandelier.

A gas log fire, flanked by built-in glass display cabinets is the focal point of the living room, while a separate study with an outlook to a private front garden is also found in the home.

Concertina café-style doors give access to the alfresco dining area, while a family room on the first floor opens to a large terrace enjoying tree-top views.

Close to Adelaide Botanic, The Linear Park and Adelaide’s finest private schools, it’s the ideal family home nearby to Adelaide CBD.

The listing is with Richard Hayward of Klemich property, POA; klemich.com.au

Build-to-rent (BTR) residential property has emerged as one of the key sectors of interest among institutional and private high-net-worth investors across the Asia-Pacific region, according to a new report from CBRE. In a survey of 500 investors, BTR recorded the strongest uptick in interest, particularly among investors targeting value-added strategies to achieve double-digit returns.

CBRE said the residential investment sector is set to attract more capital this year, with investors in Japan, Australia and mainland China the primary markets of focus for BTR development. BTR is different from regular apartment developments because the developer or investor–owner retains the entire building for long-term rental income. Knight Frank forecasts that by 2030, about 55,000 dedicated BTR apartments will have been completed in Australia.

Knight Frank says BTR is a proven model in overseas markets and Australia is now following suit.

“Investors are gravitating toward the residential sector because of the perception that it offers the ability to adjust rental income streams more quickly than other sectors in response to high inflation,” Knight Frank explained in a BTR report published in September 2023.

The report shows Melbourne has the most BTR apartments under construction, followed by Sydney. Most of them are one and two-bedroom apartments. The BTR sector is also growing in Canberra and Perth where land costs less and apartment rental yields are among the highest in the country at 5.1 percent and 6.1 percent, respectively, according to the latest CoreLogic data.

In BTR developments, there is typically a strong lifestyle emphasis to encourage renters to stay as long as possible. Developments often have proactive maintenance programs, concierges, add-on cleaning services for tenants, and amenities such as a gym, pool, yoga room, cinema, communal working spaces and outdoor barbecue and dining areas.

Some blocks allow tenants to switch apartments as their space needs change, many are pet-friendly and some even run social events for residents. However, such amenities and services can result in BTR properties being expensive to rent. Some developers and investors have been given subsidies to reserve a portion of BTR apartments as ‘affordable homes’ for local essential services workers.

Ray White chief economist Nerida Conisbee says Australian BTR is a long way behind the United States, where five percent of the country’s rental supply is owned by large companies. She says BTR is Australia’s “best bet” to raise rental supply amid today’s chronic shortage that has seen vacancy rates drop below 1% nationwide and rents skyrocket 40% over the past four years.

Nerida Conisbee says the BTR market is Australia’s ‘best bet’ for addressing the housing crisis.

Ms Conisbee says 84 percent of Australian rental homes are owned by private landlords, typically mum and dad investors, and nine percent are owned by governments. “With Australia currently in the midst of a rental crisis, the question of who provides rental properties needs to be considered,” Ms Conisbee said. “We have relied heavily on private landlords for almost all our rental properties but we may not be able to so readily in the future.” She points out that large companies can access and manage debt more easily than private landlords when interest rates are high.

The CBRE report shows that Asia-Pacific investors are also interested in other types of residential properties. These include student accommodation, particularly in high migration markets like Australia, and retirement communities in markets with ageing populations, such as Japan and Korea. Most Asia Pacific investors said they intended to increase or keep their real estate allocations the same this year, with more than 50 percent of Australian respondents intending to invest more.