Trophy homes with tennis courts are back in hot demand, with Queensland sales spiking thanks to COVID-19 and properties with the sought-after asset fetching nearly 10 per cent more money than those without.
Grand Slam fever has hit the housing market as new research from global real estate consultancy Knight Frank reveals more than a third (35.7 per cent) of ‘super-prime’ property sales in the state in 2020 were homes with tennis courts.
The average price for a ‘super-prime’ tennis court property in the state was $15.8 million, according to the ‘Australian Residential Tennis Court Premium’ report.
The Gold Coast was the strongest market for tennis court home sales in Queensland, recording $50 million in sales above $7 million, followed by Brisbane, with $20.1 million in sales last year.
These properties commanded a price 9.8 per cent higher on average than ‘super-prime’ properties without tennis courts, according to the report.
Knight Frank Australia head of residential research Michelle Ciesielski said COVID-19 had changed people’s attitudes towards tennis court properties with a renewed emphasis on lifestyle rather than redevelopment potential.
“Prior to the pandemic, many were questioning the cost to upkeep a large family residence with sprawling amenities, and there were some homes with tennis courts being advertised across Australia demonstrating the redevelopment potential,” Mr Ciesielski said.
“But in 2020, we saw a shift take place where a higher value was placed on space, privacy and having choices within the home to exercise, work and entertain.”
While the report only focuses on ‘super-prime’ properties — those worth $7 million or more — a much greater proportion of home with tennis courts sold for less than that in Queensland in 2020.
Rachael Spinks of Spinks & Co Residential, who specialises in selling homes with tennis courts, has run the numbers and found there were 30 tennis court home sales over $2 million in Queensland in 2019/2020 — amounting to $117.4 million.
Ms Spinks said lifestyle and tennis court properties had “never been so popular” — and not just among budding Ash Bartys.
“With demand at an all time high, stock extremely low, and interest rates also at record lows, there may never have been a better time to sell and upgrade,” Ms Spinks said.
“I believe changes in attitude and behaviour that have occurred due to the Coronavirus pandemic — social distancing, working from home, even socialising and exercising from home — are leading to new trends in real estate.
“I am seeing an obvious trend toward securing properties with large living and outdoor spaces, that also include a dedicated home office and recreational amenities such as a pool, tennis court and/or home gym.”
Ms Spinks said buyers were telling her that securing a “work-life balance” from the ability to work remotely in a property that offered more space and recreational amenities was more desirable than reduced commute times or access to busy social precincts of the inner-city.
“We’ve had a huge surge in enquiry from local, interstate and overseas buyers for prestige and tennis court homes because buyers are looking to secure not just a home, but a lifestyle, and Brisbane is proving to be very popular with buyers,” she said.
“We are receiving enquiry from cashed-up southerners who are looking to relocate to southeast Queensland, and they want a tennis court home that offers all the space and amenities for recreation and entertaining — particularly those with access to good schools and/or bus services to access the schools.”
Wally and Shelley Fowke are reluctantly selling their five-bedroom home on more than 3600 sqm at 9 Patrick St, Norman Park, after 37 years of creating memories on its tennis court.
Memories that they will cherish long after they say goodbye to the property in which they raised their four children.
“With four children, the court got lots of use!” Mr Fowke said. “The children used the court on the weekend regularly with their friends.”
But the adults also got plenty of use out of it.
“Ladies’ tennis days while the children were at school midweek were common,” Mr Fowke said.
“We also played serious men’s doubles every Wednesday night and always lots of laughs.
“Tennis is one of the few sports that you can play against opponents of any age. Family games were great fun.”
Paula Pearce of Place Estate Agents, who is marketing the property, said demand for home with tennis courts had increased since the coronavirus pandemic.
“People are now thinking that if this (pandemic) happened again, how could our family be more comfortable and if next time there is a longer lockdown, what can we do to minimise the impact on our family?” Ms Pearce said.
“Given this thinking, buyers are absolutely more interested in homes that offer more room and more facilities.”
10 OF THE TOP TENNIS COURT HOME SALES IN QLD IN 2020
Address Land size Sale price
1. 41-45 The Promenade, Isle of Capri $27m
2. 14 Sutherland Ave, Ascot 4664 sqm $13.14m
3. 297-299 Monaco St, Broadbeach Waters $12.5m
4. 1-3 La Scala Court, Isle of Capri 2632 sqm $11.75m
5. 9 Palm Ave, Ascot 1265 sqm $7.05m
6. 89 Longman Tce, Chelmer 2401 sqm $7m
7. 23 Boyd St, Bowen Hills 3050 sqm $6.6m
8. 9 Ningana St, Fig Tree Pocket 1.26ha $5m
9. 29 Kitchener Rd, Ascot 870 sqm $4.9m
10. 385 Jesmond Rd, Fig Tree Pocket 3.11ha $4.65m
(Source: Pricefinder/Spinks & Co/CoreLogic)
THE BEST TENNIS COURT HOMES ON THE MARKET IN QLD
Address Asking price
1. 1 Caballo Rd, Guanaba $21.5m
2. 14 Maryland Ave, Carrara $11.95m
3. 96 Simpsons Rd, Bardon For tender
4. 2 Maryland Ave, Carrara $6.75m
5. 154 Virginia Ave, Hawthorne By negotiation
6. 281 Grassdale Rd, Gumdale Auction
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