Property Of The Week: 167 Derby Road, Shenton Park, WA
Kanebridge News
Share Button

Property Of The Week: 167 Derby Road, Shenton Park, WA

Stylish low-maintenance living just outside of Perth’s CBD.

By Terry Christodoulou
Wed, Aug 4, 2021 3:52pmGrey Clock < 1 min

Located west of Perth, in the parkside suburb of Shenton Park comes this stylish, modern abode.

Offering 3-bedrooms, 3-bathrooms and a 2-car garage, the house is fitted with a number of modern adornments and boasts a flexible layout.

Here, one finds a seamless indoor-to-outdoor interaction for year-round effortless entertaining.

Outside, the lap pool adds to the outlook, proving to be a luxurious touch.

Inside, the home offers low-maintenance living, ideal for downsizers.

The kitchen, found in the heart of the home, is fitted with stainless steel appliances and overlooks the outdoor entertaining area via full height glazing.

Upstairs is where the accommodation is found with the master bed isolated on the far end of the home providing a private retreat complete with a built-in-robe and ensuite.

Outside, the rear court sees a laundry and access to the garage.

Located nearby to Lake Jaulbup and Kings Park, the home is only a 5-minute drive to Perth City and 15 minutes to Cottesloe Beach.

The listing is with Duet’s Suzy Costanzo (+61 0402 536 411), POA; duetproperty.com.au



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Property
How much income is required to service a mortgage? It depends on where you live
By Bronwyn Allen 25/04/2024
Property
A Dramatic London Home in a Former Chapel That Starred in ‘Call the Midwife’ Is Renting for £39,000 per Month
By LIZ LUCKING 24/04/2024
Property
On the Market for the First Time, This Hamptons Beach House Is Listed for Nearly $26 Million
By CASEY FARMER 23/04/2024
How much income is required to service a mortgage? It depends on where you live

New research suggests spending 40 percent of household income on loan repayments is the new normal

By Bronwyn Allen
Thu, Apr 25, 2024 3 min

Requiring more than 30 percent of household income to service a home loan has long been considered the benchmark for ‘housing stress’. Yet research shows it is becoming the new normal. The 2024 ANZ CoreLogic Housing Affordability Report reveals home loans on only 17 percent of homes are ‘serviceable’ if serviceability is limited to 30 percent of the median national household income.

Based on 40 percent of household income, just 37 percent of properties would be serviceable on a mortgage covering 80 percent of the purchase price. ANZ CoreLogic suggest 40 may be the new 30 when it comes to home loan serviceability. “Looking ahead, there is little prospect for the mortgage serviceability indicator to move back into the 30 percent range any time soon,” says the report.

“This is because the cash rate is not expected to be cut until late 2024, and home values have continued to rise, even amid relatively high interest rate settings.” ANZ CoreLogic estimate that home loan rates would have to fall to about 4.7 percent to bring serviceability under 40 percent.

CoreLogic has broken down the actual household income required to service a home loan on a 6.27 percent interest rate for an 80 percent loan based on current median house and unit values in each capital city. As expected, affordability is worst in the most expensive property market, Sydney.

Sydney

Sydney’s median house price is $1,414,229 and the median unit price is $839,344.

Based on 40 percent serviceability, households need a total income of $211,456 to afford a home loan for a house and $125,499 for a unit. The city’s actual median household income is $120,554.

Melbourne

Melbourne’s median house price is $935,049 and the median apartment price is $612,906.

Based on 40 percent serviceability, households need a total income of $139,809 to afford a home loan for a house and $91,642 for a unit. The city’s actual median household income is $110,324.

Brisbane

Brisbane’s median house price is $909,988 and the median unit price is $587,793.

Based on 40 percent serviceability, households need a total income of $136,062 to afford a home loan for a house and $87,887 for a unit. The city’s actual median household income is $107,243.

Adelaide

Adelaide’s median house price is $785,971 and the median apartment price is $504,799.

Based on 40 percent serviceability, households need a total income of $117,519 to afford a home loan for a house and $75,478 for a unit. The city’s actual median household income is $89,806.

Perth

Perth’s median house price is $735,276 and the median unit price is $495,360.

Based on 40 percent serviceability, households need a total income of $109,939 to afford a home loan for a house and $74,066 for a unit. The city’s actual median household income is $108,057.

Hobart

Hobart’s median house price is $692,951 and the median apartment price is $522,258.

Based on 40 percent serviceability, households need a total income of $103,610 to afford a home loan for a house and $78,088 for a unit. The city’s actual median household income is $89,515.

Darwin

Darwin’s median house price is $573,498 and the median unit price is $367,716.

Based on 40 percent serviceability, households need a total income of $85,750 to afford a home loan for a house and $54,981 for a unit. The city’s actual median household income is $126,193.

Canberra

Canberra’s median house price is $964,136 and the median apartment price is $585,057.

Based on 40 percent serviceability, households need a total income of $144,158 to afford a home loan for a house and $87,478 for a unit. The city’s actual median household income is $137,760.

 

MOST POPULAR
35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

Related Stories
Lifestyle
International Holidays 33 Percent More Expensive Than Pre-COVID
By Bronwyn Allen 29/12/2023
Money
Investors Have Cooled on Hydrogen. A Second Wave Is Coming.
By PATTI DOMM 12/04/2024
35 North Street Windsor
Property
A Touch of Magic at this Beautiful Period Cottage
By Josh Bozin 11/03/2024
0
    Your Cart
    Your cart is emptyReturn to Shop