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I recently inspected this stylish  award-winning home which is located on the western end of Subiaco at the corner of Trillo road. In addition to 4 double bedrooms, this house has a home theatre, study and covered alfresco areas on both levels.

Distinctive features which I like about this house:

• The house is built on an elevated vantage point from the Trillo road level.
• Good architectural design and layout – the open plan living and kitchen areas are seamlessly integrated with the north-west aspect of the outdoor area, a conducive feature for entertaining.
• Master bedroom and study is privately located at one corner on the second level while the other 3 bedrooms are located at the ground level.
• Very high quality finishes in the kitchen, bathrooms with spa, double showers and quality tapware. Main ensuite has separate WC.
• Theatre room has built in surround sound system, recess ceiling design, mood lighting, ceiling projector and kitchenette with French doors opening onto a covered outdoor alfresco area.
• The north-west aspect accords ample natural light to all living and outdoor areas.
• Under stairs storage / wine cellar.
• Private elevator connecting ground to second level.
• Feature corridor on ground level leading to stair well and elevator access to second level.
• Location wise, this corner of Trillo road is approximately 700m stroll east to the conveniences of retail and commercial areas of Subiaco.

The vendors are considering offers of around $1.8 million upwards. The land area of this property is approximately 300sqm. This property is listed under local agents Coakley and Martin. Council  and water rates: $2655.20 & $1,352.75 per annum respectively. The median house price for Subiaco in June 2009 is $1,225,000, 5-year growth is 125% and annual average growth is 13.8%. For more information on the suburb of Subiaco, please visit this post.

Popularity: 19% [?]

The thing I like about Tasmania or Tassie as it is affectionately known, is it’s fresh air and friendly people, not that you can’t get any in mainland Australia. However, if you have ever lived in Sydney, you will find that Hobart offers many similar experiences ~ a harbour city, Salamanca markets not unlike the weekend markets at the Rocks , the Hobart fish market, the Tasman bridge to remind you of THE harbour bridge and the Cascade beer brewery to rival any of Sydney’s best. However, there is something about Hobart that Sydney can never match ~ as a visitor to beautiful Hobart, you will get to know its CBD and surrounding suburbs intimately within 15 minutes of studying the local map.

What I like about this property and West Hobart:

1. West Hobart’s location is very strategic ~ Property is literally 1.5km from Hobart CBD or 10 minute walk. It is located in the heart of West Hobart which is on a hill. The top floor outdoor deck looks east into the city with harbour views. West Hobart is an affluent suburb popular very close to the CBD.

2. Architecturally designed landed property.

3. Large proportion of young professionals and renters in West Hobart*

4. No strata levies, total outgoings (water and council rates) are relatively low at $1,880 per year.

Important points to note:

1. Unusual floor plan and open concept may not be practical for families.

2. Although master bedroom is on the top level, it does not have an ensuite.

3. Heating may be an issue for the lower levels in winter due to open plan and heat escaping to high loft areas.

4. The bedrooms are open plan (ie without doors) and privacy and noise control (eg sound of TV and stereo from living may be audible from the bedrooms). Watching TV and listening to music with headphones may be a satisfactory solution for certain people.

5. Laundry facilities and storage may be limited.

6. Kitchen storage and fridge space may be limited.

7. Rental history ~ This property was built circa 1996 has never been rented before.

8. No Sydney Opera House? I thought you would never ask and besides, it’s not relevant here.

 

The Financials

1. Initial asking price was $430k and I believe it to be a good buy in the high $300k’s to low $400k’s. The average house price in the suburb of West Hobart is $415,000**.

2. I estimate rental for this property to be between $370 – $420 per week. This estimate is based on comparison with similar properties in the suburb only. (Note: Research was not conducted on similar properties within neighbouring suburb).

3. The average rental for houses in West Hobart is $350 per week and 4.4% yield per annum**.

4. Capital growth for West Hobart is 12.66% per year**.

Last Words

Great location and good buy at around the $400k mark. Be prepared to spend extra on rectifying practical living issues.

Source:

* Your Investment Property June 2009

** Your Investment Property July 2009

Popularity: 13% [?]

Tucked away just 11km north of the CBD, Castle Cove is exclusive and a sanctuary for nature lovers. Deepwater road runs the length of this peninsula suburb which is spread eastward from its access point at Eastern Valley Way. It boasts a short 9-hole golf course, north facing luxury homes along Neerim and Willowie roads with serene water views of Middle Harbour.

Why I like this property and suburb

• Quiet and secluded, this location permeates a calming feel and is a perfect setting for families. Bushwalking trails and canoeing activities are within close range at Wills Park and Sugarloaf Bay.
• Quick access to CBD via Eastern Valley Way and Warringah Freeway.
• This house is solidly built below Deepwater road level and its south facing terrace and balconies fronts a reserve inhabited by friendly cockatoos.
• The architecture is designed to capture to natural bushland whereby the master bedroom, living and terraces have direct access to retreat areas.
• Rumpus / living room and forth bedroom at lower level has added privacy and access to retreat area at the back of the house.
• Family and kitchen walks out to huge entertaining deck overlooking retreat and bushland.

Drawbacks

• This location may be prone to termites and rising dampness due to its proximity to natural bushlands although this issue can be easily contained with careful maintenance.
• If only the backyard / retreat had a north instead of a south aspect.

This property was last exchanged for $1.45 million in late 2006.

Popularity: 13% [?]

TRIO apartments are developed by Frasers Property Australia.

TRIO apartments are located on the intersection of Booth street and Pyrmont bridge road in Camperdown. It is 200m from the junction of busy Parramatta road and the apartments are built on the east side of Booth street.

What I like about this location:

· The 200m distance from Parramatta road is sufficient to eliminate traffic noise altogether whilst it has easy access to the CBD and Sydney University is within walking distance.

· Glebe’s bohemian and eclectic lifestyle, Glebe Point road’s cafe and restaurant strip is 1km away. It is also close to King street’s retail, cafe and restaurants, Leichhardt’s Italian restaurant strip on Norton street. Other local amenities and attractions include Rozelle Hospital on the northern side of the Western distributor, Royal Prince Alfred Hospital, Darling Harbour, Sydney Fish Markets, Broadway shopping centre, Haymarket and Chinatown is within minutes drive. Overall, it is quintessential Sydney inner west living.

· Ease of public transport to CBD via buses on Parramatta road.

Drawbacks

· Some of Camperdown’s industrial and warehousing facilities are located directly opposite the development on the south and west side of Booth street ie Storage King’s warehousing facilities.

· Apartments with the western aspect may experience traffic noise from Booth street.

What I like about the apartments:

· Layout – generally fair size and layout with loggia living as a distinctive feature. The loggias have wooden floorboards to give a warmer feel to the outdoors and have been constructed as natural extensions of the internal living areas. Some 1 bedroom apartments contain a study nook and have dual access to bathroom and toilet. Living areas have reasonable size – between 57sqm – 65sqm and between 85sqm – 94sqm for 1 bedroom and 2 bedroom apartments respectively. 2 bedroom apartments all come with 2 bathrooms with master bedroom ensuite.

· Bathroom – stylish design with good use of wall mirrors to enhance the feeling of space. Finishings include mosaic wall tiles, wall-mounted vanity basin and toilet suite with concealed cistern. Glass shower screens are semi-frameless and shaving cabinets have mirrored doors and glass shelving.

· Kitchen – galley style for 1 bedroom apartments with Smeg appliances. Some apartments come with colourback glass and stone upstand to kitchen island bench. Low-voltage halogen down-lights on underside of wall cabinets.

Drawbacks

· Separation walls of loggias have small slits, hence privacy and noise from neighbouring loggia may be an issue.

Apartment facing the east aspect which overlooks the lap pool and internal grounds are notably more exclusive due to its views towards the city skyline and more quiet surroundings. Apartments facing the west aspect will overlook some warehouse facilities and may experience noise from Booth street.

Prices:

· 1 bedroom with parking from $435 – $460k

· 2 bedroom with 1 or 2 car spaces from $790k – $1.1 million

· 3 bedroom with 2 or 3 car spaces from $1.4 million

· 3 and 4 bedroom rooftop penthouses from $1.6 – $3.5 million

At these prices, I believe these apartments are better suited for owner-occupant over investment.

Popularity: 49% [?]

This property is located in a quiet part of Bulleen, which is approximately 14km north east of Melbourne’s CBD. It is a peaceful and quiet residential suburb.

What I like about this property and suburb:

1. Strategically located just north of the Eastern Freeway via Bulleen road, this property is secluded and yet merely 20 minutes to the city by car. It is also a short drive from Doncaster’s retail and commercial centre via Manningham road.
2. The backyard has a favourable north east aspect.
3. Living areas are spacious with open concept kitchen and dining flowing onto the verandah.

Drawbacks:

1. This property is one of two properties sub-divided from a single piece of land holding.
2. Master bedroom does not have an ensuite and shares a common bathroom and single wash basin. The powder room does not have a wash basin for guests although this can be rectified by possibly extending and renovating this room.

The council and water rates for this property are $900 per annum and $130 per annum respectively.

Last words

Great residential location with easy access to the city, east and north west Melbourne. Great buy at around mid $500k’s.

 

Vital statistics ~ Bulleen, Melbourne

Median house price $640,000

Average annual growth 13.1%

5-year growth 56%

Weekly median advertised rent $380

Gross yield 3.1%

Source: Your Investment Property, April 2009

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How it’s calculated:

Median price: Median price for the 12 months to December 2008

Average annual growth: Average percentage change over the past 10 years as a per annum figure

5-year growth: Median price percentage change over the past 5 years to December 2008

Weekly median advertised rent: Median price of rental listings for the 12 months to December 2008

Gross yield: Estimated rental return, based on advertised rent to median price

Popularity: 13% [?]