Sydney House Profits At 39-Year High

The number of homes sold for profit has risen to a decade-high during the June quarter as more 91.5% of homes sold were profitable nationwide.

According to the latest CoreLogic Pain and Gain report, that is a 90-basis point increase from the March quarter and is attributed to soaring house prices, limited listing numbers and record low-interest rates.

In Sydney, 97.6% of houses were sold for a profit – the highest level in 39 years. Profitable unit sales rose by 50 basis points to 90.2%.

Within the NSW capital, homes in the northern beaches, Camden and Hawkesbury council were the most proportionally profitable – 97.7% of homes in those areas selling for more than the purchase price.

Elsewhere, Burwood, Parramatta and Strathfield held the highest proportion of loss-making sales at 18.3%, 14.6% and 12.7% respectively.

Nationally, 12 of the 15 capital cities saw an increase in profitability.

Further, regional markets saw huge shifts in the proportion of profit-making sales with regional Victoria’s Ballarat region achieving 99.7% profitability.

The analysis of the proportion of housing resales that delivered nominal gains or losses to sellers pooled around 106,000 dwelling resales in the June quarter.

Of that number, 97,000 were sold for a profit – up 10% from the previous quarter.

It amounts to vendors making a total of $39.4 billion in nominal gains – a 12.6% rise from the previous gains. Simultaneously, the loss on sales increased on the previous quarter to $1.1 billion.

Nationally, the median profit on resales was $265,000 in the three months to June, while median losses were $43,000.

Tucked away in Byron Bay’s coveted hinterland, Whimsy Farm is a traditional rural homestead surrounded by more than 16ha of lush fertile grounds with equestrian facilities and a host of whimsical additions including a fairytale-inspired maze.

Just listed with Sotheby’s International Realty Byron Bay, agents Denzil Lloyd and Will Phillips are running an expressions of interest campaign on the glamorous getaway with a price guide of $5.25 million to $5.75 million.

The romantic estate in Federal, 25 kms from Byron Bay dates back more than a century, but has been meticulously renovated by its current owners to attain modern day dream home status.

Back in 2016, the enviable property even featured on Foxtel’s short-lived reality TV show I Own Australia’s Best Home. The picturesque parcel has also been appreciated by location scouts and has appeared in a long list of fashion brand and magazine shoots such as Country Style and Queensland Homes.

Owner Melinda Boundy, founder of boutique interiors firm Melinda Boundy Design, was instrumental in reviving the historic Federal homestead. She has described the rural property as a “a respite from the world” where she and her husband have raised their two sons over the past decade.

“I brought my boys down 10 years ago to nurture their creativity, their boyhood,” Boundy said in a recent Instagram post announcing the impending sale.

“We found our farm with its double-storey treehouse and 40 acres the perfect place for two young boys to thrive.”

In addition to hiring out the estate for formal events, Boundy said the family had celebrated several milestones at the address.

“Many parties, sleepovers, friends staying and events have been held [here]. It has seen the filming of a TV show or two, music videos, location shoots and weddings,” she added.

“Now it’s time to pass the baton to another family to share the magic and wonderment of this beautiful compound.”

Lloyd agreed that the listing is a magical estate, ripe for the picking.

“It’s a wonderland. There’s the maze, but it’s also got the treehouse, teepee, dams, beautiful established veggie gardens and it’s perfect for those who love horse riding,” Mr Lloyd said.

“It really is an oasis with plenty of classical charm as well. It’s not an ostentatious home; it’s an original Queenslander from 1910.”

Living up to its storybook name, Whimsy Farm is home to a preserved traditional Queenslander residence with five bedrooms, plus a freestanding guest cottage. There is also a separate pool house and a combined shed or office on site, all capturing scenic hinterland views.

The main single-storey residence has a choice of entertaining spaces inside and out as well as bedrooms opening to private alfresco areas. A grand kitchen and the large living room both open to a vast terrace and pool area.

In the primary bedrooms suite there is a bay window overlooking the natural surrounds, an ensuite with double vanities, and out on the covered deck an outdoor bathtub is an idyllic spot for soaking under the stars.

The playful property has also operated as a holiday rental and offers up unique bonus features including a solar-heated semi circle pool, a double-storey treehouse, a teepee, horse stables, paddocks and a an Olympic-sized dressage arena.

A true tree change destination, the Federal address is home to 10 acres of regenerated forest, eight water tanks, two lagoons, extensive raised veggie gardens and a citrus orchard.

It is conveniently located a scenic 30-minute drive to Byron Bay and 20 minutes to Bangalow.

Whimsy Farm at 711 Federal Dr, Federal is listed through Sotheby’s International Realty Byron Bay through an expressions of interest campaign closing February 20, 5pm.

Sydney House Profits At 39-Year High

Sellers across Australia have pocketed billions.

Whimsy Farm is a playful period estate positioned in Byron Bay’s picturesque hinterland.