Mosman’s ‘Land House’ Could Be Yours
A detailed designer pile in a blue-ribbon Sydney suburb.
2 min
Set across an expansive 1863sqm plot in the highly sought-after Sydney suburb of Mosman, 13A Elfrida Street also known as ‘Land House’ presents a family haven by renowned architect Peter Stutchbury.
The three-storey, 5-bedroom, 3-bathroom, 2-car garage residence is located on a private battle-axe block and utilises the combination of timber – including cedar, birch, turpentine – steel, concrete and glass to stylish, industrial effect.
The first floor contains the open plan living, dining and kitchen area punctuated by a neck-creasing void further elevating the space. Here, the kitchen sees an industrial, stainless steel workspace and bespoke timber cabinetry while the living area is fitted with a fireplace.
The interplay between the glass windows and adjustable cedar shutters, offers a unique sense of the outdoors in a modernised plantation reference. Also featured are polished concrete floors with underfloor heating while cooling ceiling fans and nuanced lighting prove comfortable fixtures.
Elsewhere on the first floor is the covered outdoor entertaining area – making use of the home’s north-east aspect – with a self-cleaning magnesium swimming pool, complete with motorised pool cover and a tennis court that doubles as half a basketball court.
Upstairs the top floor sees the master suite with ensuite complete with stand-alone bath and steam shower along with a further two bedrooms, each complete with their own ensuites.
A further two bedrooms land on the lower level, alongside a storeroom, casual living, entertainment and gym with its own bathroom.
It’s also here that you’ll find a water tank – one of the home’s many green initiatives – along with rooftop solar panels, ensuring the home doesn’t disrupt its natural surrounds.
Land House is less than 10km to Sydney’s CBD, closer to Balmoral Beach, and within walking distance of Mosman’s dining options on Military road.
The listing is with LJ Hooker Avnu’s Michael Coombs (+61 407 980 443) and Bo Zhang (+61 406 213 775). Price guide $16m.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Philip Lowe’s comments come amid property industry concerns about pressures on mortgage holders and rising rents
2 min
Leaders in Australia’s property industry are calling on the RBA to hit the pause button on further interest rate rises following yesterday’s announcement to raise the cash rate to 4.1 percent.
CEO of the REINSW, Tim McKibbin, said it was time to let the 12 interest rate rises since May last year take effect.
“The REINSW would like to see the RBA hit pause and allow the 12 rate rises to date work their way through the economy. Property prices have rebounded because of supply and demand. I think that will continue with the rate rise,” said Mr McKibbin.
The Real Estate Institute of Australia today released its Housing Affordability Report for the March 2023 quarter which showed that in NSW, the proportion of family income required to meet the average loan repayments has risen to 55 percent, up from 44.5 percent a year ago.
Chief economist at Ray White, Nerida Conisbee, said while this latest increase would probably not push Australia into a recession, it had major implications for the housing market and the needs of ordinary Australians.
“As more countries head into recession, at this point, it does look like the RBA’s “narrow path” will get us through while taming inflation,” she said.
“In the meantime however, it is creating a headache for renters, buyers and new housing supply that is going to take many years to resolve.
“And every interest rate rise is extending that pain.”
In a speech to guests at Morgan Stanley’s Australia Summit released today, Governor Philip Lowe addressed the RBA board’s ‘narrow path’ approach, navigating continued economic growth while pushing inflation from its current level of 6.8 percent down to a more acceptable level of 2 to 3 percent.
“It is still possible to navigate this path and our ambition is to do so,” Mr Lowe said. “But it is a narrow path and likely to be a bumpy one, with risks on both sides.”
However, he said the alternative is persistent high inflation, which would do the national economy more damage in the longer term.
“If inflation stays high for too long, it will become ingrained in people’s expectations and high inflation will then be self-perpetuating,” he said. “As the historical experiences shows, the inevitable result of this would be even higher interest rates and, at some point, a larger increase in unemployment to get rid of the ingrained inflation.
“The Board’s priority is to do what it can to avoid this.”
While acknowledging that another rate rise would adversely affect many households, Mr Lowe said it was unavoidable if inflation was to be tamed.
“It is certainly true that if the Board had not lifted interest rates as it has done, some households would have avoided, for a short period, the financial pressures that come with higher mortgage rates,” he said.
“But this short-term gain would have been at a much higher medium-term cost. If we had not tightened monetary policy, the cost of living would be higher for longer. This would hurt all Australians and the functioning of our economy and would ultimately require even higher interest rates to bring inflation back down.
“So, as difficult as it is, the rise in interest rates is necessary to bring inflation back to target in a reasonable timeframe.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
