Jarryd Hayne secures $2.15 million Darlinghurst buyer
Former NRL champion Jarryd Hayne finally secured the sale of his Darlinghurst investment terrace on the weekend.
Hayne secured the deal after he reduced the asking price for a third time to $2.2 million last month, with the buyer paying $2.15 million. It was initially offered in July with $2.35 million hopes.
The two-time Dally M Medal winner had recently sought to have it rented out at $1100 a week.
The renovated terrace cost $1.58 million in 2013. The three-bedroom, two-bathroom 1890s property was bought when the suburb’s median house price was $1.05 million.
The current median for three-bedroom Darlinghurst terraces sits at $2 million, according to realestate.com.au, which tallied just 10 similar house sales over the past year.
Adam Regan and Ellen Trojkovic at the Our Estates agency were marketing the three-level terrace as “a chic inner-city haven”.
The West Avenue property was the priciest property in a portfolio that totalled $5 million at its 2013 peak exposure.
Hayne is currently in Perth, living and training with an evangelical Christian ministry organisation, Youth With A Mission, on a six-month course. He is on bail for aggravated sexual assault charges relating to an alleged incident in the Hunter Valley on grand final night last year.
Hayne, who contests the charges, has been excused from attending court until the call-over date in April next year.
Sydney estate agents reported 436 weekend auction sales, adding to the 1300 private treaty sales of the past week across NSW. CoreLogic calculated that the clearance rate dipped to 78%.
The priciest Saturday result was on Marine Parade, Maroubra, which sold for $7 million through Phillips Pantzer Donnelley agent Alexander Phillips. The four-bedroom 1950s home on a 544 square metre block was offered for the first time in half a century with a $6.5 million guide.
Home loan arrears listings continue to decline, according to Standard & Poor Global ratings. The latest Australian prime mortgage defaults data showed a decline in the Standard & Poor’s Performance Index (SPIN) to 1.36% in September down from 1.41% a month earlier.
The report warned self-employed borrowers could put pressure on mortgage arrears in any weakening economic environment, given the greater sensitivity of business cash flows.
NSW arrears fell. However, arrears rose in Western Australia, South Australia and Tasmania.
S & P noted that “stronger refinancing activity and recent tax cuts are having a positive effect on debt serviceability”.
The improvement was more pronounced for owner-occupier loan mortgage arrears, which declined to 1.58% from 1.61% a month earlier.
Mortgage arrears on investor loan remained unchanged at 1.38%.
This article first appeared in The Daily Telegraph.