SURGE IN NATIONAL HOUSING AND RENTAL PRICES
New report presents strong median price rises for most cities.
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The weighted average capital city median price of houses and other dwellings officially increased for the December quarter 2020.
Figures from the Real Estate Institute of Australia (REIA) report ‘Real Estate Market Facts’ indicate a 6% rise for houses and 0.9% rise for other dwellings during for the period.
“The weighted average median house price for the eight capital cities increased to $825,205,” said Adrian Kely, REIA President. “Over the quarter the median house price increased in all capital cities,”
“At $1,211,488, Sydney’s median house price continues to be the highest amongst the capital cities, 46.8% higher than the national average.
“At $490,000 Perth has the lowest median house price across Australian capital cities, 40.6% lower than the national average. Over the 12 months to the December quarter, the weighted average capital city median house price increased by 6.6%.
The weighted average median price for other dwellings for the eight capital cities increased to $601,345, a quarterly increase of 0.9%. The only city to not see a rise was Adelaide.
The REIA figures also outed a rise in median rent for 2-bedroom houses in Brisbane, Adelaide, Perth, Canberra and Darwin.
Sydney, Melbourne and Hobart, meanwhile, remained steady.
“Other dwelling rents during the quarter, the median rent for 2-bedroom other dwellings increased in Perth, Canberra and Darwin, remained steady in Brisbane and Hobart but decreased in Sydney, Melbourne and Adelaide,” added Kelly. “Darwin had the largest increase over the quarter [6.6%].”
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The nearly 10,000-square-foot home stands right at the entrance to the Amazon billionaire’s grand, $165 million estate.
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A home that’s right at the entrance to Jeff Bezos’s Beverly HIlls estate, which the billionaire purchased for $165 million in 2020, is now on the market asking $19.8 million.
Shaded by mature olive trees, the three-story modern mansion on Angelo Drive spans nearly 10,000 square feet, and includes five bedrooms, a bar and lounge, a home cinema, a pool with floating benches, and a 15-car garage.
The modern home centers around a striking wood staircase that extends through all three floors, creating an eye-shaped spiral.
Other design choices include a full-height black marble fireplace, herringbone wood flooring, grayscale marble backsplashes in the kitchen and bathroom, banks of floor-to-ceiling windows and a seating area in the middle of the pool.
There is also an outdoor kitchen and eating area poolside, and a living space with sliding doors that open directly onto the pool deck, for indoor/outdoor living.
The home was built in 2021 and designed by Gabbay Architects for the owner, who purchased the underlying property for $4.1 million in 2015, according to property records accessed through PropertyShark.
The seller, who runs a Beverly Hills-based plastic surgery practice, could not immediately be reached for comment.
The Benedict Canyon house came to market Friday with Tomer Fridman of Christie’s International Real Estate. He could not immediately be reached for comment.
The Bezos estate is also known as the Warner Estate, named after its first owner, Hollywood mogul Jack Warner of the Warner Bros.
After Warner, the 9-acre estate was owned by music executive and film producer David Geffen, followed by Bezos. The property includes a palatial Gregorian Revival mansion built in 1939 and designed by architect Florence Yoch to befit the status of one of the most powerful men in Hollywood.
At $19.8 million, the new listing offers quite a deal compared to other properties neighbouring Bezos. In Florida, the owner of a vacant lot next door to the Amazon founder’s estate on Indian Creek Island is asking $150 million for it.
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