5 CBD Apartments Under $750K
Stylish city pads across Australia
on a budget.
Stylish city pads across Australia
on a budget.
Located in the luxurious Abian building – which offers first-class amenities, 24/7 concierge, lounge, pool, spa, gym, steam room sauna and treatment rooms – this apartment captures extensive views of Brisbane City. The 2-bedroom, 1-bathroom, 2-car pad arrives with a clean contemporary interior with travertine flooring and neutral tones throughout and is fitted with mirrored built-in robes and full-length glass windows.
Contact agent; Raywhiteeastbrisbane.com.au
Set in the historical heart of Perth City’s north-east precinct this 3-bedroom, 2-bedroom, 2-car apartment comes in at a whopping 221sqm of living space, boasting a huge 118sqm courtyard. Designed for easy living, residents can embrace unique amenities and modern technology with the ability to choose a colour scheme on purchase. Further, the building offers rooftop amenities including a gym, residents’ dining and kitchen, entertainment room, bbq facilities, theatre and private study.
$690.000; Peet.com.au
This north-east facing 19th-floor apartment offers a garden view in the heart of Melbourne CBD. The 2-bedroom, 2-bathroom apartment is situated in the Peak Apartment building which is a low-density offering with only five residences on each floor. Minutes from RMIT University, the State Library and Chinatown, it’s a chance to be in the midst of all Melbourne has to offer.
Contact agent; aus-pac.net/
This is expansive 3-bedroom, 3-bathroom, 2-car apartment gives stunning views over the harbour and Bicentennial Park of Darwin from its sixth-floor outlook. The apartment features a large galley style kitchen that overlooks the spacious lounge and dining room. The complex has two lifts, two resort-style pools, full-size tennis court, gym, a conference room and secure entry.
$702,000; ofndarwin.com.au/
Located in the “Rex Apartment” is this light-filled 58sqm one-bedroom studio in the heart of Sydney’s CBD. Onsite facilities include an outdoor heated swimming pool and a well-equipped gym. Sleek contemporary interiors include an open plan bedroom, plus living and dining flowing to a balcony while the modern abode is within walking distance of Darling Harbour, Barangaroo, world-class shopping, dining and entertainment.
$675,000; cityquarter.century21.com.au/
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Ray White’s chief economist outlines her predictions for housing market trends in 2024
Ray White’s chief economist, Nerida Conisbee says property price growth will continue next year and mortgage holders will need to “survive until 2025” amid expectations of higher interest rates for longer.
Ms Conisbee said strong population growth and a housing supply shortage combatted the impact of rising interest rates in 2023, leading to unusually strong price growth during a rate hiking cycle. The latest CoreLogic data shows home values have increased by more than 10 percent in the year to date in Sydney, Brisbane and Perth. Among the regional markets, price growth has been strongest in regional South Australia with 8.6 percent growth and regional Queensland at 6.9 percent growth.
“As interest rates head close to peak, it is expected that price growth will continue. At this point, housing supply remains extremely low and many people that would be new home buyers are being pushed into the established market,” Ms Conisbee said. “Big jumps in rents are pushing more first home buyers into the market and population growth is continuing to be strong.”
Ms Conisbee said interest rates will be higher for longer due to sticky inflation. “… we are unlikely to see a rate cut until late 2024 or early 2025. This means mortgage holders need to survive until 2025, paying far more on their home loans than they did two years ago.”
Buyers in coastal areas currently have a window of opportunity to take advantage of softer prices, Ms Conisbee said. “Look out for beach house bargains over summer but you need to move quick. In many beachside holiday destinations, we saw a sharp rise in properties for sale and a corresponding fall in prices. This was driven by many pandemic driven holiday home purchases coming back on to the market.”
Here are three of Ms Conisbee’s predictions for the key housing market trends of 2024.
Ms Conisbee said the types of apartments being built have changed dramatically amid more people choosing to live in apartments longer-term and Australia’s ageing population downsizing. “Demand is increasing for much larger, higher quality, more expensive developments. This has resulted in the most expensive apartments in Australia seeing price increases more than double those of an average priced apartment. This year, fewer apartments being built, growing population and a desire to live in some of Australia’s most sought-after inner urban areas will lead to a boom in luxury apartment demand.”
The rising costs of energy and the health impacts of heat are two new factors driving interest in green homes, Ms Conisbee said. “Having a greener home utilising solar and batteries makes it cheaper to run air conditioning, heaters and pool pumps. We are heading into a particularly hot summer and having homes that are difficult to cool down makes them far more dangerous for the elderly and very young.”
For some time now, long-term social changes such as delayed marriage and an ageing population have led to more people living alone. However, Ms Conisbee points out that the pandemic also showed that many people prefer to live alone for lifestyle reasons. “Shorter term, the pandemic has shown that given the chance, many people prefer to live alone with a record increase in single-person households during the time. This trend may influence housing preferences, with a potential rise in demand for smaller dwellings and properties catering to individuals rather than traditional family units.”
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’