Karl Stefanovic’s brother Peter rants about the real estate market in Sydney’s posh eastern suburbs on his national TV show as he and his wife Sylvia Jeffreys try to sell their $4.5 million Double Bay home
Peter Stefanovic voiced his own grievances about the brutal housing market in Sydney’s eastern suburbs on Wednesday amid the cost of living crisis.
The 41-year-old Sky News Australia first edition presenter lamented rising costs in his posh neighborhood after putting his $4.25million Double Bay home up for sale.
As he searches for a new million dollar home with his wife Sylvia Jeffreys, the journalist complained on his national TV show that he was being hit by the rising costs.
Speaking to Yellow Brick Road Home Loans CEO Mark Burris, Peter said that “real estate, especially in the eastern suburbs,” is becoming more and more expensive.
“PropTrack and CoreLogic data shows that the pace of home price growth is slowing. are you buying this?’ he said.
“Because I’m still seeing a lot of real estate, especially in the eastern suburbs, although perhaps that shouldn’t surprise you, which is still well over the border,” he continued.
At the beginning of Stefanovic’s comment, which focuses on Sydney’s east, he asked Mark for his opinion on Meriton boss Harry Triguboff’s proposal 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 jail [Long Bay Correctional Complex] there etc.’
“But it’s being repulsed because some locals don’t want to get it.” But is this an example of an idea that could well be pursued further? [to increase Sydney’s housing supply]?’
Peter Stefanovic, 41, (pictured) voiced his own grievances about the brutal housing market in Sydney’s eastern suburbs on Wednesday amid the cost of living crisis
Bouris agreed with the proposal, but noted that many developers might not be willing to invest in such a proposal because of the bureaucratic burden of government approval.
Peter and Today Extra host Sylvia, 37, bought their luxurious two-story estate in the cosmopolitan eastern suburbs in 2016 for $2.7 million.
They recently decided to relist the property at a shocking price of $4.5 million as they search for a new home.
The Australian presenter of Sky News’ first edition lamented rising costs in his posh neighborhood after putting his $4.25million Double Bay home up for sale
The couple may be looking for an addition to their growing family as their two young sons Oscar, three, and Henry, two, are growing fast.
According to CoreLogic data, the median value of Sydney homes rose another 1 percent in July to an even more priceless $1,333,985.
Real estate has become so expensive that the average full-time worker on an annual income of $94,000 would struggle to pay off a $1 million loan.
As he searches for a new million-dollar home with his wife Sylvia Jeffreys, 37, (right), the journalist complained on his national TV show that he was being hit by the rising costs
Singles earning that much owe the bank 11 times their salary with a 20 percent mortgage deposit.
Bondi prices are well above $4 million in the eastern suburbs and rising to $8 million in the Vaucluse waterfront, data from CoreLogic shows.
This makes housing unaffordable for dual-income couples, as households in these beach ZIP codes typically make more than $200,000 a year, IRS figures show.
An elite professional would need to make $377,553 to even afford a $2.84 million home and avoid mortgage stress where someone owes the bank six times or more their earnings.
Peter and Today Extra host Sylvia bought their luxurious two-story mansion in the cosmopolitan eastern suburbs in 2016 for $2.7 million – now they’ve decided to sell for a shocking $4.5 million