Property Of The Week: 33 Ryan Street, Dundas Valley, NSW
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Property Of The Week: 33 Ryan Street, Dundas Valley, NSW

A spacious family home is headed for auction.

By Terry Christodoulou
Wed, May 12, 2021 3:15pmGrey Clock < 1 min

Located in one of Dundas Valley’s premier streets, with close access to transport, shops and local schools, comes this brand-new, luxuriously appointed brick home.

Presenting clean, elegant, spacious modern living comes this duplex with 5-large bedrooms, 3-bathrooms and a 2-car parking. Provides high ceilings, designer bathrooms and bright entertaining areas.

Inside the home sees a combination of European tiles and polished floating timber floorboards underfoot – with the lower floor housing the communal spaces including the open plan kitchen, dining and living area.

It’s here the kitchen – fitted with stone benchtops and European appliances – flows towards the dining and living area, which extends outwards to an undercover entertaining area.

Also on the first floor is the main bathroom and laundry. The upper level sees four of the five bedrooms located on the top floor, with all bedrooms including a built-in robe and the master suite enjoying a private ensuite. The fifth bedroom is located on the ground floor.

Rounding out the home is the upstairs study nook and a large, landscaped yard.

The listing is headed to auction, Saturday, June 5, with Professionals Real Estate Ermington’s Ahmad Malas (+61 420 880 510) is managing the listing. Ermingtonrealestate.com.au

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Amid looming rate rises, there are reasons to be cheerful as mortgage holders head into 2023

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Mortgage holders should brace themselves for more pain as the Reserve Bank of Australia board prepares to meet tomorrow for the first time this year.

Most economists and the major banks are predicting a rise of 25 basis points will be announced, although the Commonwealth Bank suggests that the RBA may take the unusual step of a 40 basis point rise to bring the interest rate up to a more conventional 3.5 percent. This would allow the RBA to step back from further rate rises for the next few months as it assesses the impact of tightening monetary policy on the economy.

The decision by the RBA board to make consecutive rate rises since April last year is an attempt to wrestle inflation down to a more manageable 3 or 4 percent. The Australian Bureau of Statistics reports that the inflation rate rose to 7.8 percent over the December quarter, the highest it has been since 1990, reflected in higher prices for food, fuel and construction.

Higher interest rates have coincided with falling home values, which Ray White chief economist Nerida Conisbee says are down 6.1 percent in capital cities since peaking in March 2022. The pain has been greatest in Sydney, where prices have dropped 10.8 percent since February last year. Melbourne and Canberra recorded similar, albeit smaller falls, while capitals like Adelaide, which saw property prices fall 1.8 percent, are less affected.

Although prices may continue to decline, Ms Conisbee (below) said there are signs the pace is slowing and that inflation has peaked.

“December inflation came in at 7.8 per cent with construction, travel and electricity costs being the biggest drivers. It is likely that we are now at peak,” Ms Conisbee said. 

“Many of the drivers of high prices are starting to be resolved. Shipping costs are now down almost 90 per cent from their October 2021 peak (as measured by the Baltic Dry Index), while crude oil prices have almost halved from March 2022. China is back open and international migration has started up again. 

“Even construction costs look like they are close to plateau. Importantly, US inflation has pulled back from its peak of 9.1 per cent in June to 6.5 per cent in December, with many of the drivers of inflation in this country similar to Australia.”

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