Karl Stefanovic’s brother, Peter, nags about the real estate market in Sydney’s posh eastern suburbs on his national TV show as he and wife Sylvia Jeffreys try to sell their $4.5 million Double Bay home
Peter Stefanovic voiced his own complaints on Wednesday about the brutal property market in Sydney’s eastern suburbs amid the cost of living crisis.
The first edition on Sky News Australia, the 41-year-old presenter moaned about rising costs in his posh neighborhood after putting his $4.25 million Double Bay home up for sale.
While looking for a new million-dollar home with wife Sylvia Jeffreys, the journalist lamented on his national TV program that he was being affected by rising costs.
Speaking to Mark Burris, executive chairman of Yellow Brick Road Home Loans, Peter said that “properties, especially in the eastern suburbs,” were getting so expensive.
PropTrack and CoreLogic data show that the pace of real estate price growth is slowing. Are you buying this?’ he said.
“Because I still see a lot of properties, more so in the eastern suburbs, although that might not surprise you, that are still going way over the top,” he continued.
Earlier in Stefanovic’s eastern Sydney-centric commentary, he asked Mark to give his opinion on Meriton boss Harry Triguboff’s suggestion to build apartments in Little Bay.
“Because he says, you know, it’s run down, there’s a lot of space there, there’s the prison (Long Bay Correctional Complex), and so on.”
“But it’s being pushed back, because some locals don’t want it. But is that an example of an idea that could be pursued (to increase the housing stock in Sydney)?’
Peter Stefanovic, 41, (pictured) voiced his own complaints on Wednesday about the brutal property market in Sydney’s eastern suburbs amid the cost of living crisis
Bouris agreed with the suggestion, but pointed out that many developers may not be willing to invest in such a proposal given the red tape involved in getting government approval.
Peter and Today Extra host Sylvia, 37, bought their luxury two-story home in the cosmopolitan eastern suburbs for $2.7 million in 2016.
They recently decided to put the property up for sale again with a shocking price of $4.5 million while looking for a new home.
The host of the first edition on Sky News Australia moaned about rising costs in his posh neighborhood after putting his $4.25 million Double Bay home up for sale
The couple may be looking to upgrade their growing family as their two young sons Oscar, three, and Henry, two, are growing fast.
It comes as median home values in Sydney jumped another 1% in July to an even more prohibitive $1,333,985, data from CoreLogic showed.
Real estate has become so expensive that at $94,000 a year, the average full-time worker would struggle to pay off a $1 million loan.
While looking for a new million-dollar home with his wife Sylvia Jeffreys, 37, (right), the journalist lamented on his national TV program that he was being affected by rising costs
Single people earning that much owe the bank 11 times their salary on a 20 percent mortgage.
In the eastern suburbs, Bondi prices are well above $4 million, rising to $8 million in port-side Vaucluse, CoreLogic data shows.
This puts housing out of reach for even a two-income couple, with households in these beachfront zip codes typically earning more than $200,000 a year, IRS figures show.
An elite professional would need to earn $377,553 to even pay for a $2.84 million home and avoid mortgage stress, where someone owes the bank six times or more of what they earn.
Peter and Today Extra host Sylvia bought their luxurious two-story home in the cosmopolitan eastern suburbs for $2.7 million in 2016 – they’ve now decided to sell for a shocking $4.5 million