CY Magazine - Issue 77

A grand estate with tennis court & pool 20 May 2017 / Issue 77

08 9385 5559 / www.capornyoung.com.au

WELCOME

Richard Young - CEO, Caporn Young Estate Agents

GOOD NEWS IN THE BUDGET If you are a downsizer, first-home buyer or small business owner, the recent Federal Budget should bring a smile to your face.

Downsizers will be able to put $300,000 each into their superannuation, from the proceeds of their principal residence.

First-home buyers will be to salary-sacrifice up to $30,000 into their superannuation to help save for a home deposit.

Small businesses (up to $10 million turnover) can continue to write off expenditure up to $20,000 for a further year, and the Federal Government will take further action to reward states that cut red tape.

In addition, the Budget reaffirmed there will be no change to negative gearing and Capital Gains Tax. The Budget also introduced a provision to

prevent developers from selling more than 50 percent of new developments to foreign investors – a fair and sensible rule by any measure.

CY Magazine is published by: Caporn Young Estate Agents - Claremont Head Office 4/355 Stirling Highway Claremont, WA 6010 For advertising or other enquiries, please contact Patricia Cheah on (08) 9385 5559.

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There was also good news for the wider Perth community, with $1.2 billion redirected from the now-defunct Freight Link into the Metronet project. This will better connect Perth, and open up east-west connections across the suburbs, meaning people will no longer have to travel into the CBD to get to their final destination.

The funding announcement also included extra funding for major road projects, including $237 million for the Kwinana Freeway.

There is no such thing as a ‘perfect’ budget, and not everyone will be happy with the latest one, but it is good to see these initiatives being introduced. If you would like to discuss how you can make the most of these changes, please reach out to your local Caporn Young representative.

We are always happy to meet with you.

COVER: Grand estate with tennis court and pool at 53 Napier St, Nedlands.

Contact Richard Young 0412 385 056 for details.

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THEIR STORIES

Gavin Hegney - Independent Property Analyst

THINKING OF TRADING UP? So often people step into the unknown and decide to trade up their home. I say unknown because it’s something that the statistics say we do on average every 13 years, and most of us contemplate it at about year 7, which makes it largely unfamiliar territory each time we do it.

Perhaps it’s the fact that we only trade up our homes to match the changing needs of our lifestyles and our families, be it the coming of children, the need for schooling, a new job, perhaps dual salaries or even children leaving home. Whatever the reason, people upgrading their home is alive and well today, especially in a market which is in a recovering part of the property cycle when people are confident of their income, where interest rates are down and the market is very affordable offering a lot of value for the upgrade cost.

This was the case for Sam and Michael who traded up recently in Floreat. Those who have followed these articles in the past know that I have a philosophy of only taking advice from people with relevant experience. So I spoke to Sam to understand what was involved in her process with a view to how it may assist you, if you are a trade up buyer.

Their story is....

Sam and Michael had been looking at properties in the market for 5 years and had only just finished a renovation of their home that they had owned for 11 years. Over that time they had spoken at length to many agents but especially CY’s Floreat specialist Helen Hemery

who took the time to understand what was most important to them.

Sometimes we can get somewhat cluttered with noise when we are very close to a decision, especially if we are emotionally connected to the outcome. The added benefit is that the time spent also helped Sam and Michael really understand the market.

When the property that matched their needs became available Helen contacted Sam who looked through it immediately. Sam said, “we knew it was right in the first inspection and just fell in love with it at first sight.”

Having learnt from past experience though, Sam checked out the workings of the home thoroughly, confident though as the home ticked all their boxes.

“We already had our home just right to sell “said Sam,” so were confident to buy first and to sell ours later.”

“I suppose this says that looking at all those homes over many years and all of those conversations certainly helped us to understand the market, and so we knew when the right one came along,” attests Sam. The theory is that when trading up you have the choice of selling first and then looking for the new home or alternatively, of buying first and then secondly selling your existing home.

Either choice is correct but there are a few must do’s to get it right.

If you are selling first you must be prepared to rent if necessary whilst looking for the right home. It puts you as a cash buyer which can give you negotiating power. Sometimes however, the thought of selling our

home first in the hope of finding another home puts us into panic and can cause us to make a rash purchase.

So beware.

emotions which are faced in this decision, and will ultimately have your own story, perhaps not that dissimilar to Sam and Michael’s.

If you are buying first make sure you are very confident of the value of the home you’re selling. I have seen too many people shocked over the years expecting to get a lot more for their home than what it’s really worth which can lead to financial stress.

An independent view from an agent or valuer can assist with this. That’s where the relationship with an agent over time can assist, as was the case for Sam and Michael.

If you get it right you will probably follow Sam and Michael’s path, who state that, “happiness is so important to our family and we get so much happiness from our home. We never dreamed that we would be living in such a beautiful home”

In theory, over the last 6 years the

I have always found that any decision is only as good as the information upon which it’s based. The right information will assist you greatly and turn it into the best next step in your life.

‘Tis not the home that changes but the people within... that is why one person’s joy in a home may be lived many times over. cost of housing, namely interest rates, have almost halved whilst values really haven’t moved. That makes upgrading now very timely and great value for money, especially given the recovering interest in the near city suburbs.

If you are in the category of an upgrade buyer then you will know exactly all of the challenges and

13 Turriff Rd Floreat, which was sold for $2.75m

I wish Sam and Michael well, as I do to you, and trust that their story may bring benefit to your property decisions.

Gavin Hegney askgavin@capornyoung.com.au Gavin is a guest writer for the magazine. The views expressed are his and do not necessarily reflect those of the company.

O PP O RT UN IT Y

THE ULTIMATE IN RIVERSIDE LIVING MOUNT PLEASANT CIRQUE APARTMENTS Whether it’s the intelligent design, or its towering elegance; the clever use of light and space, or the amazing panoramic views; its well-connected location at the confluence of the Canning and Swan Rivers, or its amazing landscaped pool deck and Five Star Green Building Council Of Australia ratings...

Whichever way you look at Cirque, it offers you the chance to view life from a completely new prospective.

Your Residents’ Desk provides almost 2,500sqm of indoor and outdoor resortstyle features; including heated pool, spa, sauna, gym, cinema, covered barbeque facilities, cocktail bar and private dinning spaces.

This complex offers a mixture of apartments ranging from 1 bedroom, 1 bathroom, lock and leave to spacious 3 bedroom and 3 bathroom living. This opportunity is available to suit all budgets.

Book your appointment with Steve and Emma for an exclusive view of the display suite.

For more information visit the Caporn Young Website.

FOR SALE Please call for details VIEW By appointment

STEVEN CURRIE 0413 984 569 steven@capornyoung.com.au

EMMA MCCARTHY 0417 920 448 emmam@capornyoung.com.au

9385 5559 / capornyoung.com.au

9385 5559 / capornyoung.com.au

SA LE 2

1

368

CLAREMONT 25 HALDANE STREET

3

1

1

1,104

CLAREMONT 12/17 AIRLIE STREET

3

2

2

2

2

467

SO LD

3

SO LD

COTTESLOE 27A ELIZABETH STREET

FO R

FO R

SA LE

CHRIS STOREY

CLAREMONT 86 GUGERI STREET

For details on any of these properties or to find out how I’m consistently achieve outstanding results for my clients, please contact me today.

CHRIS STOREY 0420 290 906 chris@capornyoung.com.au

9385 5559 / capornyoung.com.au

4

An elegant new style.

A market full of promise.

Change has never looked so good.

sales / auctions / rentals

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FEATURE PROPERTY THE NEXT CHAPTER READY TO BE WRITTEN Every so often, a unique piece of real estate comes onto the market – something that isn’t an ordinary opportunity, and something that might not be seen again. Number 42 Holdsworth Street is that rare occasion for a visionary buyer to make their move.

Built circa 1850, it is one of only 14 West Australian properties to be listed with the National Trust of Australia, and encompasses a 3-bedroom home, as well as a separate building with a huge cellar below. Originally, this separate building was a bakery, before serving as an ice cream factory, a grocery and mixed business store and then ‘Seubert’s Antiques’ in the 1980s. Still zoned for mixed-use, it presents several business possibilities.

Alternatively, it could be transformed into a stunning apartment.

The main limestone residence takes full advantage of the elevated site. The north-facing rear enjoys a sought-after outlook across Fremantle’s historic town and harbor, and it is in a prime position 5 minutes’ walk to the Cappuccino Strip.

The home is one of the city’s earliest significant buildings, and is full of the grace and character of the Gold Rush era. This includes high ceilings, original fireplaces, Jarrah and Oregon floors and double-hung sash windows. A large garden courtyard features recycled brick paving underfoot and shady mature trees all around.

The home was renovated in the early 1980’s and offers a new owner a wonderful opportunity to renovate and add value to the property with the authenticity and original fabric being retained and is in sound condition.

The national trust have been excellent to work with in the past and their preference is for modern

contemporary renovations and extensions to be carried out so the different centuries the home straddles can be clearly identified.

The National Trust assists with the owner’s renovation and improvement projects to achieve their mandate.

There are even grants and tax incentives available. For example

the previous owners were given a substantial grant to replace the roof on both properties in the late 1980s.

Caporn Young will auction 42 Holdsworth Street Fremantle, onsite at 10.30am on Saturday May 27, 2017. For more information, call Richard Young on 0412 385 056.

O PP O RT UN IT Y 9385 5559 / capornyoung.com.au

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COMO BEACH & CROQUET 2/8 ERIC STREET When choosing a Como location, there are none better than the privileged position this beautiful townhouse holds with a commanding outlook over the Croquet Club lawns and beyond. In an exclusive group of only four, this is an immaculately maintained, ’lock and leave’ property which you will discover comes with luxury inclusions. Don’t miss viewing this home!

As advertised

0402 456 485 adam@capornyoung.com.au

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AU CT IO N

BIG-HEARTED FAMILY HOME BY THE COAST 56 FAIRBAIRN ROAD Swimming, crabbing, boating: the coastal life is hard to beat, with plenty of room to spread out at home when you´re back from the beach. With several living areas and great outdoor entertaining, here the family can be together and have independent space, close to schools and transport.

On site, Saturday 3rd June at 10:30am As advertised or by appointment

0466 446 774 lucy@capornyoung.com.au

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AU CT IO N

ELEVATED HOME, STYLISH RENOVATION 15 MOTRIL AVENUE Set back from the curving street, this charming family home has been renewed with flair and attention to detail, with marri floors, fabulous modern kitchen, two living areas, study, big play room or theatre room, gorgeous new en-suite, triple garaging and indoor-outdoor living with pool-side entertaining.

On site, Saturday 10th June at 12:30pm As advertised or by appointment

0466 446 774 lucy@capornyoung.com.au

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LOVE AT FIRST SIGHT 161 CURTIN AVENUE This extended character cottage puts traditional character features against eclectic renovations with the towering ceilings, generous room sizes and selfcontained studio at the rear. The refreshing mix captures Cottesloe’s vibe so well - relaxed, yet still very luxurious & beautiful. Better still, it is positioned moments from the beach & close to top schools and cafes.

As advertised or by appointment

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0412 385 056 richard@capornyoung.com.au

0499 991 795 dan@capornyoung.com.au

NEW, SPACIOUS, STYLISH, SECURE 1A IRWIN STREET This brand-new two-storey home on its own title offers all the advantages of an East Fremantle park-side location with excellent natural light, lift, open plan living, superb kitchen, additional upstairs living area with terrace, gleaming timber floors, good security and the fresh feel of contemporary design and decor.

FROM $1,049,000 Saturday, 20th May 12:00 - 12:30pm

0409 229 115 stefanie@capornyoung.com.au

0434 076 229 michael@capornyoung.com.au

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AU CT IO N

ELEGANT RIVERSIDE PENTHOUSE 29/1 RIVERSIDE ROAD Watch the life of the harbour and the beauty of the river go by from this elegant, spacious penthouse, where high cathedral ceilings and glass walls embrace spectacular views to Rottnest. Here you are serenely perched above the action, with the vibrant riverside life on your doorstep.

On site, Saturday 3rd June at 9:30am Wednesdays & Saturdays

0434 076 229 michael@capornyoung.com.au

0409 229 115 stefanie@capornyoung.com.au

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SIMPLY LUXURIOUS RIVERFRONT 3/2 RIVERSIDE ROAD Enjoy all the space and comfort of a home, but with the ease of apartment living in an extraordinary setting, where the inspiring natural beauty of the river is part of your everyday. Built to the highest specifications by Imperial Homes, this is one of just four apartments and a rare opportunity to secure a northfacing waterfront location.

Low $3,000,000’s Saturday, 20th May 11:00 - 11:30am

0409 229 115 stefanie@capornyoung.com.au

0434 076 229 michael@capornyoung.com.au

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AU CT IO N

SANCTUARY IN THE HEART OF OLD FREO 7/17 ESSEX STREET Completely charming, this spacious stone and iron home over three levels is the perfect urban sanctuary, with open-plan living, master suite with its own sitting room, elevated balconies with views, and a delightful high-walled courtyard. Inner city living has never been so pretty or so peaceful.

On site, Saturday 10th June at 11:30am Saturdays 11 - 11:30am & Thursdays 5:15 - 5:45pm

0411 115 147 connie@capornyoung.com.au

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AU CT IO N

DECEASED ESTATE AUCTION 42 HOLDSWORTH STREET This rare and original two-storey stone residence is one of Fremantle´s earliest buildings. This landmark property is full of atmosphere and ripe for renovation.

Sitting up on a rise with long views across to the harbour the land holding also includes a historic brick bakery and cellar, full of inspiring possibilities.

On site, Saturday 27th May at 10:30am Saturdays 10:00 - 10:30am & Thursdays 12:00 - 12:30pm

0412 385 056 richard@capornyoung.com.au

0499 991 795 dan@capornyoung.com.au

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AU CT IO N

EARLY FREMANTLE CHARM RENEWED 73 MARMION STREET The charm of an early stone cottage is even more delightful with a professional builder´s own new renovation done to perfection. Be the first to live in this refreshed character home close to George Street, with the centre of historic Fremantle just down the road.

On site, Saturday 27th May at 12:30pm Saturday 20th May 12:30-1pm, Wednesday 24th May 5:15-6pm, Saturday 27th May from 12pm

0411 115 147 connie@capornyoung.com.au

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AU CT IO N

BEYOND THE ORDINARY 99 MARMION STREET Reminiscent of grand manor houses in Provincial France, this striking residence has grand proportions and quality finishes. Elegant European styling is brilliantly matched with a luxurious, contemporary ambience throughout. It´s located opposite the East Fremantle Oval, 200 meters to an incredible cafÊ, close to the beach and river.

On site, Saturday 10th June at 9:30AM Saturday, 20th May 1:00 - 1:30pm

0409 229 115 stefanie@capornyoung.com.au

0434 076 229 michael@capornyoung.com.au

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AU CT IO N

ENVIABLE RESIDENCE 17 ROOKWOOD STREET Spectacular panoramic river views and stunning design - experience the quality in this bespoke residence - This multi-level property, complete with lift has it all! Unwind in the tranquillity of this elegant and secure home, enjoy the serenity of the sweeping river views over Raffles, Canning Bridge, and across to Salter Point, what a perfect start and finish to your day.

On site, Saturday 3rd June at 12:30PM Wednesdays & Saturdays as advertised

0450 422 224 arreum@capornyoung.com.au

0413 984 569 steven@capornyoung.com.au

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FAMILY LUXURY

BY THE RIVER 5 WAUGH STREET Designed with easy living and entertaining top of mind, this property has spectacular views with north-facing indoor-outdoor living zones and a swimming pool and spa. There´s an exceptional standard of workmanship throughout, and the comprehensive floor plan provides space here for everyone and every activity.

As advertised

0417 185 706 lara@capornyoung.com.au

0407 423 655 aidan@capornyoung.com.au

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AU CT IO N

BIDDING FROM $2,000,000 53 NAPIER STREET DOUBLE BLOCK WITH SUBDIVISION POTENTIAL! On a large landholding with tennis court and pool, this renewed historic home is all simple elegance. A flawless renovation adds perfect modernity, including a superb contemporary kitchen, while retaining the grace of the 1907 original all with an endless sense of space and flow and a serene atmosphere.

On site, Saturday 27th May at 12:30pm Saturdays 12:00 - 12:30pm & Thursdays 5:00 - 5:30pm

0412 385 056 richard@capornyoung.com.au

0499 991 795 dan@capornyoung.com.au

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AU CT IO N

COASTAL RETREAT MODERNIST FLAIR 5 BARROW CRESCENT Modern design combines with the natural feel of precious timber in this fresh and very striking contemporary home five minutes walk from South Beach. Full of light, with two living areas, stylish resort-style master suite and secluded outdoor entertaining, the atmosphere is perfect coastal relaxation.

On site, Saturday 10th June at 3:30pm As advertised or by appointment

0466 446 774 lucy@capornyoung.com.au

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AU CT IO N

LIVE ON THE DUNES AT SOUTH BEACH 25/23 OCEAN DRIVE Step out your front door to the dunes and the ocean, with the blue expanse before your eyes and the islands on the horizon. This beach-house is spacious, sheltered and beautifully designed with a relaxed, sophisticated coastal feel perfect for its South Beach location.

2 bedrooms 2 bathrooms 1 study 2 cars

On site, Saturday 3rd June at 1:30pm As advertised or by appointment

0466 446 774 lucy@capornyoung.com.au

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AU CT IO N

A PIECE OF PERTH HISTORY 115 HARBORNE STREET "Overstrand" is a sprawling, elegant family home, believed to be the first built on Harborne Street. Expertly restored and extended by its current owners, a builder and his family, it is now a home with everything you can imagine and a few things you can´t, such as a weatherboard studio cottage and a vast underground basketball court.

On site, Saturday 20th May at 11:30am Saturday 11:00 - 11:30am

0413 929 999 craig@capornyoung.com.au

0411 037 504 oonagh@capornyoung.com.au

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HIDDEN GEM WITH ’DOWN SOUTH’ VIBE 10 WHISTLER COVE Who needs a holiday house, when you can come home to a beautiful property like this? Exuding that relaxed ´Down South´ feel, this home has expansive bushland views and a sense of being a million miles away from anywhere.

You´re actually less than 10 mins from Perth CBD!

Please call for details Saturdays 11:00am & Thursdays 4:45pm

0408 370 809 helen@capornyoung.com.au

0407 082 383 jake@capornyoung.com.au

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EXECUTIVE RESIDENCE HYDE PARK 123A GLENDOWER STREET $949,000 Call Tim or Stephanie for details

0406 300 828 tim@capornyoung.com.au

0408 914 117 stephanie@capornyoung.com.au

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AU CT IO N

DECEASED ESTATE 314 RAILWAY PARADE On site, Saturday 27th May at 11:30am As advertised

0413 929 999 craig@capornyoung.com.au

SO LD

68 BRISTOL AVENUE

Sold under the hammer

0434 076 229 michael@capornyoung.com.au

2 GILBERT PLACE

Mid - High $700,000’s As advertised

0410 085 174 siobhan@capornyoung.com.au

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RENTAL REVIEW A WORD ON TAX It seems like just yesterday we were welcoming in 2017, and yet here we are hurtling toward the end of the Financial Year. For property investors, it is time to organise your depreciation reports if you haven´t already. Regardless of your property´s age, there will almost always be tax deductions that you are eligible for depreciation can be applied to dishwashers, ovens, carpet, blinds, concrete, brickwork, and more. A qualified quantity surveyor will be able to advise you on the Australian Tax Office´s rules around how your property and its improvement depreciate with age.

FOR LEASE 48 Pembroke Street

121 George Street

121 Fourth Avenue

Given the warm weather is hanging around, it´s also time to carry out any repairs your property needs before the rainy months set in.

Most repairs are tax deductible, so please check with your accountant. A thorough accountant is a wise investment (particularly one who specialises in property taxation), as they will help you fully utilise the other deductions you are entitled to claim against your income tax. If you have any questions, I´m happy to point you in the right direction.

Selection of hot properties currently for lease 2/3 Brixton Street

2/17 Amherst Street

38 Johnston Street

85 Fraser Street

12 Finsbury Grove

3/7 Centro Avenue

For all enquiries, please contact Caporn Young’s Leasing and Property Management team on 9385 5559.