Beautiful one day, pricey the next
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Beautiful one day, pricey the next

Low vacancy rates and rising rents make life tough on tenants in the Sunshine State while investors see strong capital growth

By KANEBRIDGE NEWS
Mon, Jul 10, 2023 10:44amGrey Clock 2 min

Renters in Queensland are experiencing the greatest rental pressure in the country, new data shows.

The Rental Pain Index released by content and research provider Suburbtrends shows the Sunshine State has seen the highest average rental increase in 12 months across the country at 16.33 percent.

“The significant increase in rental prices over the past year in Queensland is a clear contributor to the heightened rental pain felt by residents,” said founder of Suburbtrends, Kent Lardner. “Similar trends are observed in South Australia and Western Australia, where rental prices have risen by approximately 15.95 percent and 15.37 percent, respectively.”

The findings are the result of analysis of the top 25 rental results in each state comparing advertised rentals, vacancy rates and average rent increases over a 12 month period. It also examines average rents as a percentage of income.

The report comes on the back of data released by Ray White Real Estate which reveals that unit prices in Brisbane are growing at a faster pace than houses.

Ray White chief economist Nerida Conisbee said unit price growth has kept pace with that of houses, with apartment prices now back to their 2022 peak. She attributed the recent downturn in apartment prices to the lockdown lifestyle of the pandemic.

“Apartment living wasn’t much fun during lockdowns. Living in smaller spaces with restricted movement was difficult and a lot of the best things about urban living were not available,” Ms Conisbee said. 

“Now that things are pretty much back to normal, apartment living is again attractive. Most of us are going back to the office more frequently and all the best things about living in higher density suburbs are back. 

“We have moved quickly from a situation where there were too many apartments to not enough. Demand is exceeding supply, driving up prices and rents.”

 

Ms Conisbee noted that demand for apartments would continue to outstrip supply as building approvals were at their lowest point in more than a decade while construction costs were at record highs.

She said the future of the Australian residential market was apartment living, which is not reflected in current housing stock around the country.

“Australia has extremely low density relative to other major cities,” Ms Conisbee said. “Sydney is our highest density city but half of all homes are still detached houses. In Hobart, just 15 percent of homes are attached or apartments.” 



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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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A 600-Year-Old Medieval Villa Overlooking Florence Lists for €12 Million

The four-storey, lemon-hued villa boasts more than 16,000 square feet of living space and historic character and charm by the bucket load

By LIZ LUCKING
Wed, May 29, 2024 2 min

A 14th-century villa in the hills overlooking Florence, Italy, has hit the market for €12 million (US$13 million).

Surrounded by cypress trees, vineyards and olive groves, the quintessential Tuscan home was built for the Davanzati family—who were powerful bankers, merchants and patrons during the Italian Renaissance who have a museum named after them in the heart of the city. The villa was one of the family’s multiple country retreats, according to Lionard Luxury Real Estate, which brought the home to the market earlier this month.

Courtesy of Lionard

The four-storey, lemon-hued villa boasts more than 16,000 square feet of living space and historic character and charm by the bucket load.

The ballroom has a giant skylight.
Courtesy of Lionard

On the ground floor there are ​​a number of reception rooms and open-air living areas, with many of them boasting antique paintings, tapestries and stately fireplaces made of marble or carved stone.

The most “magnificent” room, according to Lionard, is the winter garden hall, a ballroom with stuccos, loggias and towering vaulted ceilings, illuminated by an Art Nouveau skylight.

Courtesy of Lionard

On the first floor are multiple double bedrooms and an antique library, and the second floor, while in need of renovation, offers the possibility of creating up to 12 en-suite bedrooms. The villa’s tower has a “delightful sitting room and a rooftop terrace offering a breathtaking view of the city of Florence,” the listing said.

The villa has ivy-covered loggias.
Courtesy of Lionard

The basement, meanwhile, has a cellar with brick vaults that are perfect for wine lovers. An elevator runs between the levels.

Outside, the grounds have well-kept gardens, rolling lawns, a fountain, ancient wells and ivy-covered loggias.

Mansion Global couldn’t determine who is selling the villa, or when they acquired it.

The property is “an oasis of peace,” the listing said, and “one of the most exclusive historical estates on the hills that surround the city of Florence.”

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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