Latest news with #downsizers
News.com.au
2 days ago
- Business
- News.com.au
Mount Waverley home stuns with $2.33m auction result
A Mount Waverley home has fetched $2.33m after a six-way bidding war — smashing reserve by $280,000 — as desperate downsizers beat out younger families for one of the suburb's only move-in ready homes this weekend. The single-level four-bedroom home at 38 Windsor Ave, was one of 16 properties to go under the hammer in the prized school zone on Saturday, but stood alone in offering a fully renovated, single storey move-in-ready lifestyle with pool, alfresco deck and luxe interiors. Heavyside Boroondara auctioneer Steven Zervas said the campaign drew more than 80 inspections, with 30 people attending the auction and six active bidders vying for the keys. Where Melb homes sell in 22 days 'Bidding opened at $1.9m, right at the bottom of the guide, and once it hit the $2.05m reserve it just didn't stop,' Mr Zervas said. 'We had really strong depth and competitive energy.' Mr Zervas said the eventual buyers, a semi-retired couple who had been renting just around the corner after relocating from the UK had already missed out on two properties and weren't going to let this one go. 'The underbidders were also downsizers, and they were gutted,' he said. 'The rest of the competition came from younger families who were just as keen, this was a home that really crossed demographics.' Featuring a deluxe kitchen with dual ovens, multiple living zones, a designer ensuite, and a seamless indoor-outdoor layout anchored by a salt-chlorinated pool, the home was marketed as a luxury family entertainer with zero renovation required. 'This was the only turnkey house on the market this weekend,' Mr Zervas said. 'Everything else that went to auction for this type of asset was a unit, townhouse or a knockdown.' Mr Zervas said the result showed strong demand from buyers with 'zero appetite' for major renovations, especially among those chasing access to Mount Waverley Secondary College, Avila, Huntingtower and Wesley. 'With school enrolments on parents' minds, people are planning now, not waiting for spring,' he said. 'August and September are sweet spots. 'Once spring hits, your home could be one of 30 auctions on the same day.'
Globe and Mail
16-07-2025
- Business
- Globe and Mail
Engel & Völkers Releases 2025 Mid-Year Canadian Luxury Real Estate Market Report
Wealthy buyers drive gains in top-tier segments, with core $1 million - $1.99 million market showing enduring strength nationwide New York, New York and Toronto, Ontario--(Newsfile Corp. - July 16, 2025) - Engel & Völkers has released its 2025 Mid-Year Canadian Luxury Real Estate Market Report, revealing a landscape that is both resilient and increasingly segmented. The report, which analyses properties priced over $1 million in Halifax, Montréal, Ottawa, Toronto and Vancouver, highlights a distinct two-speed market, where mid-luxury homes remain stable, while ultra-luxury properties see selective but meaningful gains. Mid-luxury remains resilient, with properties priced between $1 million and $1.99 million continuing to form the backbone of the market. Ultra-luxury condos are experiencing strong demand, driven by a surge in ultra-high-net-worth individuals seeking to downsize. However, immigration caps are beginning to temper demand from new international buyers. Regional divergences are also emerging, as market conditions are increasingly varied across provinces. Neighbourhood segmentation has become the new norm, with home prices varying dramatically — even from street to street — based on a complex mix of factors ranging from school zones to lifestyle amenities. "We're seeing a clear wave of demand from ultra-high-net-worth downsizers who value privacy, space and convenience. In cities like Toronto and Vancouver, boutique ultra-luxury condos are outperforming, driven by buyers seeking turnkey sophistication," said Andrew Dinsmore, chief financial officer, Engel & Völkers Americas. "One thing is clear — today's Canadian market is hyper-local. It's no longer just about city averages — it's about the block, the view and the school zone. From street to street, values can shift dramatically and buyers are more focused than ever on pinpointing the right fit." Key findings: Halifax saw a 9.2 per cent increase in the number of units sold priced between $1 million and $1.99 million in 2025's first half, compared to the same period in 2024. Montréal sales of homes over $4 million jumped 69 per cent in the first half of 2025 compared to 2024, signalling a strong rebound in Montréal's luxury market. Ottawa properties priced between $1 million and $1.99 million accounted for 10.8 per cent of all real estate transactions in the first half of 2025. This is up from 8.6 per cent in the second half of 2024. Toronto's ultra-luxury home prices surge by $1 million in the first half of 2025, averaging $14.8 million in the $10 million-plus segment. Vancouver's June detached sales grew by four per cent year-over-year in the $1 million to $1.99 million segment, showing signs of renewed activity. 2025 Mid-Year Canadian Luxury Real Estate Market Report About Engel & Völkers Engel & Völkers is a global luxury real estate brand. Founded in Hamburg, Germany, in 1977, Engel & Völkers draws on its rich European history to deliver a fresh approach to luxury real estate in the Americas with a focus on creating a personalized client experience at every stage of the home buying or selling process for today's savvy homeowner. The Engel & Völkers Network currently operates approximately 300 shop locations with approximately 6,000 real estate advisors in the Americas, contributing to the global network of over 16,000 real estate professionals in more than 30 countries, offering both private and institutional clients a professionally tailored range of luxury services, including real estate and yachting. Committed to exceptional service, Engel & Völkers supports its network of advisors with an array of premium quality business services; marketing programs and platforms; as well as access to its global network of real estate professionals, property listings, and market data. Each brokerage is independently owned and operated. For more information, visit MEDIA CONTACTS Lina Zhao Matte PR 416-515-7667 ext. 702 evamericas@ Chris Zoeller Senior Marketing Director Engel & Völkers Americas 973-271-7339 -30-
News.com.au
21-05-2025
- Business
- News.com.au
‘New generation of housing': The property type buyers can't get enough of
Rising home prices and a limited supply of standalone houses is driving a shift in buyer behaviour that's making way for a 'new generation of townhomes'. According to Position Property, the sales agent for many boutique Brisbane residential projects, this type of product is attracting strong interest from buyers looking for comfort and space without the upkeep of traditional houses. RELATED: Vera unveiling sees milestone achieved at Greville Downsizers, in particular, are lapping up features like four-car garages, whole-floor master suites, and larger than life butler's pantries. 'We're seeing a real surge in demand for townhomes that offer house-like proportions with striking architectural features,' Position Property principal Richard Lawrence said. 'Buyers want the space and lifestyle of a traditional home, without the upkeep. Rightsizers in particular are drawn to the low-maintenance appeal, while still enjoying multiple bedrooms, private outdoor areas, and double garages that feel more like a freestanding house.' 'This new generation of townhomes being delivered in inner city surburbs where people want to live, is redefining urban living.' Mr Lawrence said townhomes were a 'smart alternative' to renovating an older home — especially for busy professionals and young families who did not have the time or budget to tackle major upgrades. 'These homes come move-in ready with the latest design trends, energy efficiency, and none of the unknowns you get with older properties,' he said. Construction is moving quickly on a boutique townhome development that's now 50 per cent sold in Brisbane's inner south, thanks to interest from 'rightsizers'. Some of the homes in Parkside Residences Yeronga are already finished and ready for residents to move in to the collection of three-bedroom townhomes and three-level villas, developed by JGL Properties. The project neighbours the 22ha Yeronga Memorial Park, just 5km from Brisbane's CBD and within walking distance of the train station, cafes, and retail. JGL Properties managing director John Livingstone said the development was proving popular with local buyers seeking 'a lifestyle-driven property without compromising on space or quality'. 'This is a unique opportunity to deliver premium homes for owner-occupiers right beside one of the city's most iconic and largest parklands,' Mr Livingstone said The townhomes are priced from $1.369m and feature two-car garages, private courtyards, and landscaped gardens, with a selection of the homes offered as freehold titles. A limited collection of house-sized villas are also available, offering three-car lock-up garages, second living rooms, studies, and internal lifts. Designed by Arkhefield, the townhomes take inspiration from classic Yeronga Queenslanders, blending heritage elements with modern design, and featuring sintered stone benchtops, sleek cabinetry, and high-end European appliances. Over in Taringa, Beatrice Residences is also close to completion, offering just nine townhomes with a mixture of three and four bedrooms — four with four-car garages. Located on Beatrice Street, they also boast internal elevators, separate secondary living areas, whole-floor master suites, and outdoor kitchens. Developed by Creera, prices start at $2.34m. Brisbane residents Juliette and Wayne Jericho have purchased a three-level villa in Parkside Residences as part of a lifestyle move. 'We're semi-retired and looking to simplify,' Mrs Jericho said. 'Our current home, with a large garden and pool, has become more than we need. 'We wanted to 'right-size' without losing the quality we're used to.'
