Prestige Property: 32 Becker Place, Mount Ommaney, QLD
A capacious hilltop residence sets a new standard of luxury.
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A suspended concrete tri-level glass and stone mansion perched on the hill in Mount Ommaney, Brisbane, is one of the city’s most elevated waterfront properties.
Boasting panoramic views of Brisbane River, as well as distant mountain range views of Cunningham’s Gap, comes this 5-bedroom, 5-bathroom, 12-car parking pile spread across a secluded 2858sqm location.
Inside, a three-storey central void is reminiscent of five-star international hotels – giving an immense sense of space, further elevated by soaring panes of glass and a sweeping circular staircase. Drawing the eye in once more is a stone-clad internal lift that services all floors.
The top level – facing the river – sees the master bedroom, complete with ensuite, walk-in-robe, and nearby study or nursery. The master bedroom is surrounded by private rooftop deck.
The middle level is the core of the home, with the living, dining and kitchen space all located here. The kitchen boasts a quartz island bench and butler’s kitchen alongside a powder room. A custom-built, spacious bar – made of French Oak – which opens out onto a spacious deck is ideal for drinking in the views.
Also on the middle level is the children’s wing – featuring three bedrooms, each with individual balconies. One enjoys an ensuite, while the other two share a bathroom.
The lower level also homes a 10-seat, 3- tired French-inspired cinema, replete with a cocktail cabinet and games table area. Further, a custom-built Alpine stone bar and backs ono an enormous rumpus room with a full-sized lounge and pool table.
Also on the lower level is a bedroom which acts well as a guest room. Also here is another luxurious bathroom.
The lower level also grants access – via stacking doors – to the alfresco entertaining area complete with magnesium infinity pool, 8-seater spa and outside pool house with shower and toilet.
Located 25-minutes to Brisbane’s CBD and an hour’s drive to the Gold Coast, the grand residence enjoys the conveniences of Mount Ommaney without forgoing its relaxed lifestyle.
The listing is with NGU Real Estate Toowong’s Emil Juresic (+61 481 601 793), POA. ngurealestate.com.au
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
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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
