Real Estate

Dr Chris Brown recalls "dramatic" personal renovation disaster

Dream Home host Dr Chris Brown has revealed his own renovation fail on the latest episode of the show. The vet turned TV star has taken on a new role where he guides six teams of aspiring renovators through the joys — and pitfalls — of house remodelling in the new Channel 7 reality show. Speaking to 7NEWS, the star recalled the terrifying moment his home nearly fell in on itself when he was trying to build a garage. “On my first renovation, I decided I needed a garage underneath my house,” he said, adding that he had council approval for the renovation. “With a couple of tradies, we went about digging out the garage underneath the house, in the sand. “We just kept on digging, digging, digging, until a rather large sound indicated the house was about to fall into the hole! “So that’s about as dramatic as it as it gets. “To have your house sort of falling in on itself, that was a pretty big learning curve.” He said that the problem was solved "very quickly" with a lot of underpinning and structural support. “A lot of those steel support posts that you can sort of wind up and down, they went in, and thankfully the house didn’t fold in half,” he said, laughing at the situation. He added that unexpected situations like this are what make renovation shows so appealing as "there’s so much natural drama, you don’t have to fake anything." “Choices have to be made, and it’s either the right way or the wrong way, and you only really discover that as you go along," he added. “Sometimes it’s too late to turn back once you realise you’ve made a terrible mistake.” Chris added that his role on the show is almost as a"coach" to the pairs, supporting them through the renovation challenges, and helping them get to the finish line. “What these couples are going through, and just how much they put on the line to get these renovations done, is quite inspiring and quite uplifting and but also thoroughly entertaining,” he said. Image: Seven

Real Estate

Yoko Ono selling John Lennon's New York home for first time in 50 years

For the first time in 50 years, the house where John Lennon and Yoko Ono lived in New York City has hit the market. The brick, bluestone and terra cotta structure at 496 Broome St. was the first home the pair bought together in New York City before they moved to the Upper West Side of Manhattan. Yoko Ono has held onto the property since she first bought it with the late Beatles member, and has now listed it with her son with JLL Real Estate, for an asking price of $US5.5 million ($8.23m AUD). “The building on Broome St. was sort of like a base for their artistic ventures,” Philip Norman, author of “John Lennon: The Life,” told the <a href="https://nypost.com/2024/05/21/real-estate/yoko-ono-lists-former-nyc-home-for-5-5m/" target="_blank" rel="noopener">New York Post</a>. “Bank Street was their salon, where people could just walk in.” First built in 1885, the two-storey building has an open-plan format, with a gallery-like ground floor space with 14.4-foot-high ceilings, an open kitchen and a lofted bedroom. On the second floor, there’s a live-work space and a recording studio. “496 Broome St. is both a unique piece of New York history and popular culture and a prime investment opportunity for the right buyer,” said Paul Smadbeck, who holds the listing. “Versatile zoning and its location in one of the city’s most desirable and trendsetting neighbourhoods offers an exciting opportunity to create a one-of-a-kind property.” Image credits: Mediapunch / JLL Real Estate

Real Estate

Airbnb launches real-life "Up" house - and it actually floats!

Airbnb is taking its latest listing to the sky - literally. The accommodation provider has announced a partnership that will see the iconic house from Pixar's hit film Up being lifted into the air, balloons and all. In their ongoing quest to redefine hospitality, Airbnb has launched a permanent category called “Icons,” which features partnerships with brands and celebrities that promise unforgettable experiences. Suspended over the New Mexico desert with the aid of a crane, the property looks like an exact replica of the home and contains adorable easter eggs from the film - including the Adventure Book. “Icons take you inside worlds that only existed in your imagination — until now,” Airbnb CEO and co-founder Brian Chesky said in a statement. “As life becomes increasingly digital, we’re focused on bringing more magic into the real world … we’ve created the most extraordinary experiences on Earth." The house offers a stunning view of the desert, which you can enjoy while sitting on replica's of Ellie and Carl's chairs or have breakfast with a view in the kitchen. Alternatively, you could look at the stars while sitting on the front porch - but don't look down because the adventure is out there. Of course there are questions about the logistics of the stay, including plumbing and electricity, but the accommodation giant has assured that the house is “fully functional,” connected to generators and utilities that will be seamlessly managed before and after its flight. Other fantastical listings include a replica of the mansion from the “X-Men ’97” cartoon, a stay at the Ferrari Museum in Italy, and Prince's house that was featured in the legendary film Purple Rain. Check out the <a href="https://www.airbnb.com.au/rooms/1126185893236246260?_set_bev_on_new_domain=1715826165_M2NkZDdkODdhMjcy&source_impression_id=p3_1715826166_A20M4770EGAtl8AV&modal=PHOTO_TOUR_SCROLLABLE" target="_blank" rel="noopener">Up</a> listing here, be warned the sweet listing may make you shed a tear or two. Images: Airbnb

Real Estate

When is it a good idea to get a property appraisal?

In the fast-paced world of real estate, finding a space that truly reflects your essence and aspirations can feel like searching for a needle in a haystack. Enter <a href="https://go.linkby.com/PXROBQFZ" target="_blank" rel="noopener">Atlas by LJ Hooker</a>. At the heart of Atlas lies a profound understanding that a home is not merely a structure; it's a canvas upon which individuals paint their dreams and express their identities. This ethos is beautifully encapsulated in their brand message: "We understand that a home is so much more than real estate; it's a place to truly express yourself, to live the life you envision." What sets Atlas apart is its unwavering commitment to personalised service – especially when it comes to <a href="https://go.linkby.com/PXROBQFZ" target="_blank" rel="noopener">free property appraisals</a>. Unlike traditional real estate agencies, Atlas doesn't believe in a one-size-fits-all approach. Instead, they empower sellers to curate their own narrative, choosing elements of the brand that resonate with their unique lifestyle. Whether it's a sleek urban penthouse or a sprawling countryside estate, Atlas offers highly tailored marketing strategies that serve as a personal reflection of the property and its inherent allure. For those ready to embark on the journey of <a href="https://go.linkby.com/PXROBQFZ" target="_blank" rel="noopener">having their property appraised</a> – whether you're contemplating a sale, gauging investment opportunities, or simply curious about your net worth – Atlas offers a seamless pathway to success, as well as comprehensive advice on the potential benefits. At the core of any property appraisal lies a quest for insight into the local property market's heartbeat. Has your neighbourhood witnessed fluctuations in property values? Have recent renovations added significant value to your home? Are you considering upsizing, downsizing, or entering the investment realm? Or perhaps you're merely eager to unveil the hidden potential nestled within your property's walls. From the size of your property to the nuances of its structure and condition, every facet contributes to the appraisal process. Agents meticulously scrutinise elements such as property size, bedroom configurations, fixtures and fittings, offering valuable insights into your property's market positioning. Beyond tangible attributes, location exerts a profound influence on property values. Agents dissect the neighbourhood fabric, examining proximity to amenities, school catchments and transport accessibility. Additionally, factors like building structure, overall presentation and ease of access shape the appraisal narrative, underscoring the intricate interplay between tangible and intangible elements. The crucial distinction: Valuations vs. Appraisals It's imperative to <a href="https://go.linkby.com/PXROBQFZ/understanding-property-appraisals/" target="_blank" rel="noopener">discern between property valuations and appraisals</a>. While valuations offer an independent assessment of a property's value by certified valuers, appraisals provide a nuanced perspective shaped by local market dynamics and agent expertise. Embarking on the path to a property appraisal is easy. Simply <a href="https://go.linkby.com/PXROBQFZ" target="_blank" rel="noopener">book a consultation</a>, relax as they navigate through the intricacies of your property, and await their expert assessment. Armed with the insights garnered from your property appraisal, you're now equipped to chart your next course of action. Whether it's embarking on home improvements, contemplating a sale or recalibrating your financial portfolio, the appraisal serves as your guiding light. In a landscape defined by constant flux, the value of knowledge cannot be overstated. A property appraisal isn't merely a transactional ritual; it's a journey towards financial empowerment and informed decision-making. So, whether you're contemplating a sale or simply curious about your property's worth, take that pivotal step towards unlocking the true value of your home. After all, in the realm of real estate, knowledge is indeed power. For more information or to book your own <a href="https://go.linkby.com/PXROBQFZ" target="_blank" rel="noopener">free property appraisal, click here</a>.

Real Estate

World's most expensive house up for sale

A French chateau, once owned by a member of the Rothschild family and, later on, the King of Morocco, has gone up for sale with a £363 million (AU$699) price tag. Chateau d’Armainvilliers located at Seine-et-Marne, 48km east of the Eiffel Tower, is the world's most expensive home. Built upon the foundations of a 12th century castle, the sprawling mansion boasts 1,000 hectares of land, 100 rooms across 2,500 square metres of living space, a private lake, and plenty of sequoia trees - the largest trees in the world. Ignace Meuwissen, a self-acclaimed "real estate advisor to the global elite" described the property as a display of "opulence and grandeur". "It is the most expensive castle in France and perhaps in the world. The price of €425million is justified by the property itself but also by the 1,000 hectare land which offers numerous possibilities," he told Paris Match magazine. "An investor could build thousands of apartments there if he wanted." The chateau was first bought by the Rothschild banking empird in the late 19th century, before King Hassan II of Morocco bought it in the 1980s. He then made the chateau more fit for a king, adding a hammam spa, a beauty and hairdressing salon, and a fully-equipped medical and dental facility. The Moroccan King also added a basement level, which has a network of tunnels, kitchens, cold rooms, storage spaces and staff quarters. The lucky owner will also find Moroccan mosaics and wall tiles decorating the home, and for any avid equestrians, the home also has a stable big enough for 50 horses. However, some luxury property agents have expressed their doubts on whether the property would sell with its nine-figure sum, with one saying it was an "unrealistic" price tag. "It doesn’t make sense, it’s absurd Properties of this type could sell for 20-25 million, or even 30 million if we really fall in love with them. I’m not even sure that Vaux-le-Vicomte (a Baroque French château), which has no marketing plans, would sell at this price," one agent told French real estate publication Le Figaro Immobilier. Others were unsure whether the changes made by the King in the 1980s would suit modern tastes. Images: Whisper Auctions

Real Estate

Australia's oldest person bids farewell to iconic beach house

In a heartwarming tale that speaks to the enduring love for cherished places and the passing of generational torches, Marija Ruljancich, Australia's oldest person, has bid farewell to her beloved holiday retreat. The Sorrento pile, nestled on Victoria’s Mornington Peninsula, has found new hands, marking the end of an era and the dawn of a promising new chapter. Marija, who reached the remarkable milestone of 110 years in 2023, has been the guardian of this beachside haven for countless years. With its origins tracing back to 1960, when it was designed by the esteemed architect Daryl Jackson AO for local businessman Robert Riley, the house has stood as a testament to timeless design and cherished memories. The sale of this iconic property has not only captured the attention of locals but also stirred the hearts of many across the nation. Despite its undisclosed transaction sum, it's understood that the sale falls within the property's estimated range, a fitting exchange for a home steeped in history and affection. What truly warms the soul is the buyer's commitment to honouring the legacy of Riley House. With plans to restore the dwelling to its original glory, there's a palpable sense of joy and relief within Marija's family. The Melbourne-based buyer, driven by a passion for preserving architectural heritage, sees beyond the bricks and mortar; they envision a continuation of the house's story, enriched by their own memories and experiences. As Liz Jensen of Kay & Burton Portsea recounts the emotional journey of the sale, it's evident that this isn't merely a transaction; it's a celebration of life, love, and the power of preservation. "Congratulations to Australia’s oldest living person," Liz wrote on Instagram, "as today she successfully sells her long-held and much loved Sorrento mid century beachside family holiday home designed by Architect Daryl Jackson AO." The buyer's dedication to retaining even the smallest details, such as the built-in speaker nestled within the dining room cupboard, speaks volumes about their reverence for the past and their vision for the future. Amid whispers of demolishing the home, the decision to uphold its structure stands as a testament to the enduring spirit of community and connection. For those who walked through its halls during inspections, the house isn't just a property; it's a repository of memories, a canvas upon which stories of old Sorrento are painted with every creaking floorboard and whispering breeze. For Marija and her family, and for all those who have been touched by its charm, the legacy lives on – a timeless reminder of the beauty found in preserving the past while embracing the promise of tomorrow. Images: Instagram | Kay & Burton Portsea

Real Estate

Inside Ash Barty's new $4m beach pad

Australian tennis sensation Ash Barty has made headlines once again, this time not for her remarkable prowess on the court, but for her latest investment – a breathtaking beachfront apartment on the Gold Coast. The Wimbledon champion recently secured a half-floor sky home in a striking 41.25-metre-high tower, currently under construction at Palm Beach, for close to a whopping $4 million. The 12-story apartment building, aptly named Kloud, is not just another luxury development; it represents a significant milestone for celebrity developer Graya as it marks their debut into the opulent real estate market of the Glitter Strip. Headed by brothers Rob and Andrew Gray, Graya has carved a niche for itself by creating show-stopping residences in Brisbane for high-profile clients, including sports stars like rugby league great Darius Boyd and renowned figures like rapper Example and his then-wife, model Erin McNaught, along with rugby players Quade Cooper and Izzy Folau. For Ash Barty, this investment signifies more than just acquiring a lavish property; it's about indulging in a lifestyle befitting her status. With earnings exceeding $30 million throughout her illustrious tennis career, Barty's purchase of this beachfront abode reflects her penchant for luxury and relaxation. It's reported that she intends to use the Jefferson Lane apartment as a lock-and-leave holiday home, allowing her to escape the rigours of public life and bask in the serene coastal ambiance whenever she desires. Speaking about Barty's choice, Rob Gray <a href="https://www.realestate.com.au/news/tennis-star-ash-bartys-lavish-gold-coast-property-score/" target="_blank" rel="noopener">told Realestate.com.au</a> that “the proximity to the water afforded by the beachfront location on Jefferson Lane gives the apartments such a premium luxury feel, and Palm Beach offers that relaxed holiday lifestyle. Like myself, I assume Ash and her family will want to spend every weekend there.” Now, let's take a glimpse inside Barty's new coastal sanctuary. Spanning approximately 200 square metres of living space, this four-bedroom, three-bathroom apartment offers panoramic ocean views that will leave anyone in awe. The design seamlessly integrates indoor and outdoor living, with soaring glass walls opening onto a private balcony complete with an integrated barbecue kitchen, ideal for entertaining guests against the backdrop of the shimmering sea. Inside, the interiors exude sophistication and refinement, featuring open-plan living areas adorned with European oak floorboards and a kitchen boasting sleek finishes such as a large island dining bar, integrated Miele appliances, and natural stone surfaces. The master bedroom is a sanctuary in itself, boasting plush wool carpeting, a walk-in robe, and an ensuite bathroom replete with indulgent amenities like a walk-in twin shower, dual vanity and a luxurious freestanding bath. For Barty, this acquisition comes at a pivotal moment in her life. Having retired from professional tennis at the age of 25 in 2022, she has embarked on a new chapter, one that sees her building her dream home in Brookwater, a residential community situated close to her hometown of Ipswich, west of Brisbane. While her tennis career may have come to an end, her legacy continues to flourish both on and off the court, solidifying her status as not just a sporting icon but also a discerning connoisseur of luxury living. Images: GRAYA \ Instagram

Real Estate

Samantha Armytage lists lavish holiday home

Samantha Armytage has listed her stunning holiday home in Hyams Beach for $3.2 million. The Farmer Wants A Wife host previously leased the lavish three-bedroom, two-bathroom property as a holiday rental for $1200 a night. Armytage bought property which sits on 658sqm of land in 2018 for $1.765 million, and she has extensively renovated the property since, which includes adding a new roof and redesigning the interiors. The property boasts plenty of natural light, and is just minutes away from Hyams Beach, which you can see from the balcony of the home. All the rooms feature plenty of natural light, with the master bedroom boasting ocean-views, which makes it perfect for families or couples looking for a holiday home. The home has a cottage aesthetic, with bright white walls and floorboards, that when combined with bamboo tables, woven storage baskets, and neutral-coloured furniture looks like the ideal beach retreat. It also features a large private backyard with an outdoor entertaining area and pergola. Armytage previously sold her $2.8 million Bondi home in 2020, the same year she got married to Richard Lavender. Her and Lavender have relocated to the Southern Highlands and are currently living on a 40-hectare farm in Berrima, which Richard purchased in 2007 for $ 1.95 million. Images: realestate.com.au / Getty

Real Estate

Iconic Victorian Sphinx Hotel up for sale

The iconic Sphinx hotel is in Geelong, Victoria is up for sale for the first time in over 50 years. The Ramia family, who built a 14m-high replica sphinx on the roof of their pub, are looking to sell their property after 53 years of ownership. “We’ve got to the stage where we all want to do our own thing and it’s quite a large family,” George Ramia, the owner of the hotel said. “We’re up to nearly 53 years here and I think we’re getting a bit tired. “I started work here when I was about 14. I recall those days I wasn’t allowed in the pub but I used to do all the beer lines. “Johnny O’Keeffe used to play a lot and he always asked me to play pool, and I was a pretty good player because it’s all I was allowed to do.” Ramia who started working at the former Golf View Hotel when he was 14, saw the venue change throughout the decades from a home for live music to a bistro and recently renovated sports bar. He also saw the venue grow in popularity, after a period of financial difficulties, when the pub was remodelled with the 14m-high Sphinx on the roof, completed with Egyptian-style motifs including hieroglyphics and even a mock gold pharaoh’s tomb in the 1990s. The pub continues to host live bands and events, including the Geelong Elvis Festival. The Sphinx Hotel is positioned on a 15,000sq m freehold land parcel, with 16-rooms of various configurations, with approvals in place to develop a further 24 rooms. It also features 67 electronic gambling machines, multiple bar areas and function rooms, an outdoor beer garden, a TAB and a recently renovated sports bar. The sale of the property also include the drive-through bottle shop and a licence capacity for 1010 patrons. The hotel is available as either a new long-term lease or a freehold going concern, which is currently being managed by CBRE Hotels’ senior director Scott Callow. “Geelong’s Sphinx Hotel presents a compelling investment opportunity in the thriving gaming and entertainment industry,” the CBRE Hotels’ senior director said. “We anticipate strong interest from a range of investment segments seeking to gain a significant foothold in Victoria’s tightly held gaming market.” Images: Sphinx Hotel / Facebook

Real Estate

Mission: Impossible Sydney mansion sells for eye-watering price

One of Sydney's most iconic properties, known as the Boomerang in Elizabeth Bay, has sold for $80 million. The mansion is featured in the second instalment in the Mission: Impossible franchise, with the 2000 movie starring Tom Cruise being set and filmed in Sydney. It was the first house to officially sell for above $1 million in 1978, before setting another record in 2002 when it fetched $20.7 million. Now, multiple sources have confirmed it has been snapped up by a purchaser, originally from Asia, for four times what it last sold for. The property has long been rated as one of Sydney’s Top 50 homes, and has been in the name of Katrina Fox, the daughter of Melbourne-based billionaire trucking magnate Lindsay Fox, since 2005. The impressive home was put up for sale by Ray White in 2017 with hopes of selling for $60 million and then again with Brad Pillinger of Pillinger for $80 million in 2021 — the last agent to have it listed. Pillinger couldn’t be contacted ahead of publication, but other sources have confirmed the property has sold for the $80m asking price, while speculation from other sources that the result was $105 million have been dismissed. Boomerang sits on 4233 square metres of waterfront land, and features 25 rooms including a private cinema modelled on the State Theatre. Image credits: realestate.com.au / Paramount Pictures

Real Estate

Better Homes and Gardens star's dream rural property up for grabs

Better Homes and Gardens star Charlie Albone and his wife interior designer Juliet Love, have listed their dream Ourimbah home. The 2.07ha property located on the Central Coast has been listed by McGrath Gosford agents Peter Morris and Nate Waters with a $3m to $3.2m price guidance. The four-bedroom, three-bathroom home sits deep behind a gated entry, which ensures privacy and is surrounded by plenty of greenery with its garden alcoves, a stunning wisteria-covered arbour, fruit trees, and a few garden beds for vegetables. There is also a feature dry-stone wall fire pit built by Scottish stonemason Callum Grey, that's perfect for winter and colder nights. The English cottage-style home comes with a separate self-contained unit that includes a bedroom and kitchenette. The home is every animal lovers' dream with five paddocks that come with animal shelters, plumbed water troughs and a three-stall stable. For those hot summer days, whoever the new owners are can dip into the saltwater pool located on the property. The property is equipped with 100,000-litre tanks and has town water. Albone and his family bought the property in 2012 for $840,000 which means that if it was sold at the price guide then it's almost four times the original price they bought it at. The top acreage sale at Ourimbah currently sits at $3,725,000 for a 13.93ha Dog Trap Rd six-bedroom house, which sold in 2021. Images: news.com.au

Real Estate

Former home of Kylie Minogue and Michael Hutchence for sale

The stunning Sydney apartment that Michael Hutchence and Kylie Minogue shared for two years has hit the market. The late INXS frontman and the Aussie pop princess lived in the Liverpool Street apartment from 1989 to 1991, with the building boasting a colourful history. The current owner and director of AusMed Innovations Gavin Holland, who owns the Longevity Lounge in Double Bay, believes the picturesque apartment overlooking Hyde Park and the harbour was the scene of some wild parties. “I know that back in those days there was a lot of socialising that went on, for want of a better word,” says Holland. “In this building, there’ve been suicides, murders, famous and infamous people — all sorts of stuff." Despite the past history of the building, the two-bedroom two-bathroom apartment boasts new finishings and stunning views of the city. “But what we’ve done recently is spend two-and-a-half million dollars on refurbishing the rooftop pool and jacuzzi, so that’s obviously an expense the new owners won’t need to fork out.” Hutchence is known to have lived in the apartment with Minogue on level 27, just two floors below the communal rooftop pool, for two years during their whirlwind romance. The apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-sydney-144104704">2704/187 Liverpool Street, Sydney </a>has a $3.3 million guide, and will be auctioned at the end of February. Image credits: Getty Images / realestate.com.au

Real Estate

Flower tycoon pays $76 million in CASH for epic mansion

A Sydney businessman and flower mogul has expanded his real estate portfolio, snapping up one of NSW's most prestigious properties. Leo Lynch and his wife Christina have bought a Federation mansion in Sydney's Bellevue Hill, with the eight-bedroom eight-bathroom property boasting impressive views of Sydney Harbour. The mansion, which was built in the 1890s, also showcases a pool, tennis court, and endless luxury amenities for the well-off buyers. "Designed by architect Walter Vernon," read the listing for the property, "the home is considered his most significant residence. Other heritage buildings designed by Vernon include the Australian Museum, the Art Gallery of New South Wales and Central Railway Station. A truly rare offering to earn a piece of Australian history." While securing the house seems like a huge feat in itself, the Lynch's decided to take the purchase to the next level, buying the home for $76 million in cold hard cash. Despite paying the whopping eight-figure for the mansion, the home needs work and is set to undergo renovations. The purchase of the property, named Leura, comes just after the Lynch's sold their former home for $52.4million more than he bought it. The same night he made the enormous purchase for the Leura estate, he sold his mystery home, just blocks away, for $61.5 million after rebuilding the property he had bought for just $9.05 million in 2014. Leo Lynch, 60, is a third generation of the wholesale flower family's company, founded in 1915 and for which private equity group Next Capital took a majority interest in 2015, before it was publicly listed in 2021. Image credits: Domain

Real Estate

Three-bedroom home on the market for unbelievably cheap price

A three-bedroom home located on the border of Victoria and South Australia is up for sale for just $65,000. But there is a catch to future homeowners who want to experience the “quiet and cheap country living”, as they might need to be handy with a hammer. “If you’re a handyman and willing to put some elbow grease into it, then this one might be for you,” the listing read. The home itself is located on two plots of land measuring 2,100m2 in Serviceton, Victoria, and is only 16 minutes away from Bordertown, South Australia. “Being on two titles, you can utilise both or sell the vacant allotment as all the dwellings are on one,” the listing read. It also features a large lounge room with wood-fire heater, and a centrally located bathroom with a bath and vanity. There's plenty of room to cook in the massive kitchen, despite it needing a lot of work, it features a formal dining area that has a sliding servery window which connects to the lounge room. Outside, the future homeowner can find a large shed, rain water storage, and a gate that opens up to a park. “It went under contract ... an hour and a half (after it was listed),” Ray White agent Hayden Obst told 7News. The condition of its electrical, plumbing and appliances are unknown, but people are still expressing their interest. Despite this, many people from different parts of the country and a few investors are still calling the real estate agent, just in case the contract falls through. Images: 7News.com.au

Real Estate

Historic lighthouse keeper's cottage up for sale

A cottage next to Macquarie Lighthouse has been put up for sale, and one lucky buyer will have the chance to say they live next to one of the country's oldest lighthouses. Located on beautiful South Head Vaucluse, the lighthouse itself has stood since 1883 and it is the second tower built there after the first convict-designed one deteriorated. You don't have to worry about any noise as there's only one neighbour in sight. "How many houses can you buy with a lighthouse next door," McGrath sales agent Robert Alfeldi said. For $12 million, the lucky buyer will get the heritage home that was built 1881, with most of its original fittings still in tact and an old stables building, perched on 2600 square metres of land. Although the property has kept most of its original elements, the interior - specifically the kitchen and bathroom - have been updated into more modern versions of the original. However, those looking to renovate the property and add a second floor should look for a different property as it is a heritage home, so it limits what future owners can add. “It’s quite a unique property. People show up thinking they can put a second storey on. But it is what it is for a reason," Alfeidi said. Iconic properties like this don't go for sale often, and tends to create a buzz among wealthy potential buyers. The property was previously sold in October 2016 for $7 million. Images: Domain/ Nine

Real Estate

James Packer's insane $132-million mansion up for grabs

Aussie billionaire James Packer has put up his $132-million mansion up for sale. The 12-bedroom Beverly Hills home was previously owned by Hollywood star Danny DeVito, before Packer bought it off him in 2018 for $93-million, according to realtor.com. Dating back to the 1930's, the luxury estate has been named “Beverly Hills at its finest," as it sits on 2260 sqm and boasts a three-storey accessory dwelling, a separate maids quarter and a guesthouse. “Boasting living space across multiple structures, enjoy an unparalleled gem in one of the most coveted neighbourhoods in Southern California," the listing read. It's the embodiment of luxury and "iconic L.A. living", with a home theatre that's fully equipped with a bar, a game room, wine cellar, resort-style pool and cigar lounge. The primary suite has a fireplace, sitting room, dual bathrooms, and access to a terrace. With 18 bathrooms you don't need to worry about whether they are occupied as the master suite itself features two master baths, double vanities, a linen closet, powder room, and the option of a shower or a sub and steam shower. Not only that, the private balconies allow you to take in the magnificent views of the estate's lush yard, but also the surrounding canyons, so there's never a boring day in the multimillion dollar mansion. According to The Daily Telegraph, the billionaire is selling the home because he has no desire to live in LA if his kid's won't be visiting, after his ex-wife Erica Packer and their three kids moved to London earlier this year. Images: realestate.com.au/ Getty

Real Estate

Inside Bec and Lleyton Hewitt's new $10-million dream home

Bec and Lleyton Hewitt have headed back to Sydney after stints in Melbourne and the Bahamas, with hopes that their new $10.3 million dream home in the semi-rural suburb of Glenhaven, will provide more stability. "I'm a Sydney girl, I love Sydney," said Bec, who swapped the busy inner city life for a more secluded one with her husband their three kids, Mia, 17, Cruz, 14, and Ava, 12. Their new home is close to Bec's family, and one of their neighbours is none other than Bec's former Home And Away co-star Lynne McGranger. Their six bedroom home comes with a host of features, including an inground swimming pool with a cabana, a tennis court, guest cottage and office. It also includes a space that will be used as a "boys room" for Lleyton and his son Cruz. The home sits on just over two hectares, and even features a secret room hidden in the loft, if they want to escape and have some peace and quiet. The couple's lavish purchase comes after they sold their Melbourne mansion in the ritzy suburb of Toorak for $16 million in 2021. They didn't require a mortgage for their new home. A local insider told Woman's Day that "the house is tucked away on a quiet, dead-end road in a sleepy suburb, which will give them a bit more privacy." Images: @threebirdsrenovations / Instagram

Real Estate

Princess Diana's childhood home up for rent

The house Princess Diana spent her childhood and teenage years in is now available for the public to rent. Althorp House, located in West Northamptonshire in England, is owned by Diana's brother Earl Spencer, who has lived on the sprawling property as custodian of the estate since 1992. The expansive property has been listed for royal fans with deep pockets to rent on <a href="https://www.elysian-estates.co.uk/althorp/" target="_blank" rel="noopener">Elysian Estates</a>, an upmarket equivalent of Airbnb. Althorp House, which is a 90 minute drive out of London, was built in 1508 and has been in the Spencer family for 19 generations. Lady Diana lived in the 90-room stately home for most of her childhood and teenage years, before she married the then-Prince Charles in 1981. Not just one grand property, the estate covers 13,000 acres of countryside as it encompasses cottages, farms, woodlands and villages, which are open to visitors but only at certain times of the year. Now, the home is once again available to rent via Elysian Estates. "Althorp offers unparalleled levels of service, privacy and luxury to rival the finest properties anywhere in the world; yet retains the truly welcoming and homely feel that makes Althorp so special," the listing says. "Walk in the footsteps of kings and queens, feast or celebrate in spectacular surroundings, marvel at the sense of history and artwork, and slumber in pure luxury." In the main house, there are six state bedrooms to choose from offering "a level of opulence befitting royalty, with these very rooms playing as much a part of English history as any royal palace". Prices for the rental are not yet publicly available as an enquiry must be sent to reserve the opulent property. The listing stated that the stay includes "butler service, a team of private chefs and housekeeping, with a dedicated concierge service". Althorp is today most famous for being the final resting place of Princess Diana following her death in Paris. Image credits: Getty Images / Instagram

Real Estate

Eye-watering price tag for Melissa Caddick's penthouse

A penthouse formerly owned by fraudster Melissa Caddick is on the market for an estimated $5.5 million. The apartment, which was previously occupied by her parents Ted and Barbara Grimley, was listed for auction on October 10 and boasts stunning panoramic views of the city skyline. “Spacious throughout and stylishly presented with understated contemporary finishes, this is the perfect opportunity for downsizers, executives and families who seek undeniable quality and convenience,” read an online listing. Viewings for the apartment located in Eastpoint Tower at Edgecliff are only available through appointments, according to managing agents Richardson and Wrench. Liquidators hope that the sale of the penthouse will help recover some of the money Caddick stole from over 50 investors as part of her ponzi investment scam. The 49-year-old lived a life of luxury after stealing up to $30 million from the investors, many of whom were reportedly her close friends and family. Jones Partners, the accounting firm in charge of liquidating Caddick's former assets, have already recouped $3 million to investors after the sale of her share portfolio and Dover Heights cliff-top mansion. At the time, Jones Partners principal Bruce Gleeson said that it wasn't rare for investors to not get anything back from ponzi schemes. However, he has said that the sale of the Edgecliff apartment in Sydney's eastern suburbs, would allow for further significant distributions to investors. Caddick disappeared in November 2020, just days after her home was raided by ASIC investigators. She is believed to be dead after her badly decomposed right foot was found washed up on a beach in the south coast of NSW on February 2021, but the rest of her body has not been found. Images: Richardson & Wrench

Real Estate

The rental housing crisis is hurting our most vulnerable and demands a range of solutions (but capping rents isn’t one of them)

<a href="https://theconversation.com/profiles/andrew-beer-111469">Andrew Beer</a>, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a> and <a href="https://theconversation.com/profiles/emma-baker-172081">Emma Baker</a>, <a href="https://theconversation.com/institutions/university-of-adelaide-1119">University of Adelaide</a> Roughly <a href="https://www.abs.gov.au/statistics/people/housing/housing-occupancy-and-costs/2019-20">one in three Australians</a> rent their homes. It’s Australia’s fastest-growing tenure, but renting is increasingly unaffordable. From 2020 to 2022, our <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4253168">research</a> found a large increase in the proportion of renters who said their housing was unaffordable. <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/542737/original/file-20230815-25187-p7vxqo.png?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/542737/original/file-20230815-25187-p7vxqo.png?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/542737/original/file-20230815-25187-p7vxqo.png?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=217&fit=crop&dpr=1 600w, https://images.theconversation.com/files/542737/original/file-20230815-25187-p7vxqo.png?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=217&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/542737/original/file-20230815-25187-p7vxqo.png?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=217&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/542737/original/file-20230815-25187-p7vxqo.png?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=273&fit=crop&dpr=1 754w, https://images.theconversation.com/files/542737/original/file-20230815-25187-p7vxqo.png?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=273&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/542737/original/file-20230815-25187-p7vxqo.png?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=273&fit=crop&dpr=3 2262w" alt="horizontal bar chart showing changes in Australian renters' assessments of affordability form 2020 to 2022" /></a><figcaption>Change in Australian renters’ assessments of affordability from 2020 to 2022. Baker, Daniel, Beer, et al, forthcoming, The Australian Housing Conditions Dataset, doi:10.26193/SLCU9J, ADA Dataverse</figcaption></figure> Australians are concerned about the <a href="https://www.theguardian.com/australia-news/2023/jul/05/rents-rise-again-across-australia-with-sydney-seeing-fastest-rise-in-20-years">pace</a> of <a href="https://www.sbs.com.au/news/article/how-much-has-rent-increased-around-australia/8ljlnf0zm">rent rises</a>. Prime Minister Anthony Albanese <a href="https://www.pm.gov.au/media/national-cabinet-meeting">says</a> increasing housing supply and affordability is the “key priority” for tomorrow’s national cabinet meeting. The crisis has impacts well beyond affordability. The rental sector is where the worst housing accommodates the poorest Australians with the worst health. <h2>The unhealthy state of rental housing</h2> Forthcoming data from the <a href="https://dataverse.ada.edu.au/dataverse/ahcdi">Australian Housing Conditions Dataset</a> highlight some of these parallel challenges: <ul> <li> it’s often insecure – the average lease is less than 12 months, and less than a third of formal rental agreements extend beyond 12 months </li> <li> rental housing quality is often very poor – 45% of renters rate the condition of their dwelling as “average, poor, or very poor” </li> <li> poor housing conditions put the health of renters at risk – 43% report problems with damp or mould, and 35% have difficulty keeping their homes warm in winter or cool in summer </li> <li> compounding these health risks, people with poorer health are over-represented in the rental sector. Renters are almost twice as likely as mortgage holders to have poorer general health. </li> </ul> Measures that potentially restrict the supply of lower-cost rental housing – such as rent caps – will <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4253168">worsen these impacts</a>. More households will be left searching in a shrinking pool of affordable housing. <h2>It’s all about supply</h2> Fixing the rental crisis needs more than a single focus on private rental housing. The movement between households over time between renting and buying homes means the best solutions are those that boost the supply of affordable housing generally. No one policy can provide all the answers. Governments should be looking at multiple actions, including: <ul> <li> requiring local councils to adopt affordable housing strategies as well as mandating <a href="https://www.ahuri.edu.au/analysis/brief/understanding-inclusionary-zoning">inclusionary zoning</a>, which requires developments to include a proportion of affordable homes </li> <li> improving land supply through better forecasting at the national, state and local levels </li> <li> giving housing and planning ministers the power to deliver affordable housing targets by providing support for demonstration projects, subsidised land to social housing providers and access to surplus land </li> <li> boosting the recruitment and retention of skilled construction workers from both domestic and international sources. </li> </ul> <h2>The biggest landlord subsidy isn’t helping</h2> More than <a href="https://data.gov.au/data/dataset/taxation-statistics-2020-21/resource/ebbd32e3-4556-41e1-a8b9-33387457d518">1 million Australians</a> claim a net rent loss (negative gearing) each year. Even though negative gearing is focused on rental investment losses, it is not strictly a housing policy as it applies to many types of investment. The impact of negative gearing on the housing system is untargeted and largely uncontrolled. As a result, it’s driving outcomes that are sometimes at odds with the need to supply well-located affordable housing. The most impactful action the Australian government could take to deliver more affordable rental housing nationwide would involve refining negative-gearing arrangements to boost the supply of low-income rentals. These measures may involve <ul> <li>limiting negative gearing to dwellings less than ten years old</li> <li>introducing a low-income tax credit scheme similar to the one in the United States.</li> </ul> We can learn much from the US, where the Low-Income Housing Tax Credit (<a href="https://www.huduser.gov/portal/datasets/lihtc.html">LIHTC</a>) scheme subsidises the acquisition, construction and renovation of affordable rental housing for tenants on low to moderate incomes. Since the mid-1990s, the program has supported the construction or renovation of about 110,000 affordable rental units each year. That adds up to over <a href="https://www.taxpolicycenter.org/briefing-book/what-low-income-housing-tax-credit-and-how-does-it-work">2 million units</a> at an estimated annual cost of US$9billion (A$13.8billion). This scheme is much less expensive per unit of affordable housing delivered than Australia’s system of negative gearing. Closer to home, the previous National Rental Affordability Scheme showed the value of targeted financial incentives in encouraging affordable housing. This scheme, available to private and disproved investors, generated positive outcomes for tenants. The benefits included better health for low-income tenants who were able to moved into quality new housing. A <a href="https://cityfutures.ada.unsw.edu.au/documents/81/Next_moves_report.pdf">raft</a> of <a href="https://apo.org.au/node/260431">evaluations</a> have <a href="https://www.ahuri.edu.au/research/final-reports/267">demonstrated</a> the achievements of this scheme. <h2>Crisis calls for lasting solutions</h2> Short-term measures such as rent caps or eviction bans will not provide a solution in the near future or even the medium or long term. Instead, these are likely to worsen both the housing costs and health of low-income tenants. Reform focused on ongoing needs is called for. Solutions that can be implemented quickly include the tighter targeting of negative gearing and the introduction of a low-income housing tax credit. Talking about change, as the national cabinet is doing, will begin that process of transformation, but it must be backed up by a range of measures to boost the supply of affordable housing. This, in turn, will improve the housing market overall as affordable options become more widely available.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/211275/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/andrew-beer-111469">Andrew Beer</a>, Executive Dean, UniSA Business, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a> and <a href="https://theconversation.com/profiles/emma-baker-172081">Emma Baker</a>, Professor of Housing Research, <a href="https://theconversation.com/institutions/university-of-adelaide-1119">University of Adelaide</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-rental-housing-crisis-is-hurting-our-most-vulnerable-and-demands-a-range-of-solutions-but-capping-rents-isnt-one-of-them-211275">original article</a>.

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The rental housing crisis is hurting our most vulnerable and demands a range of solutions (but capping rents isn’t one of them)

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