Prestige Property: 5&6/70 Campbell Pde, Bondi Beach, NSW
Welcome to The Empire’s airy, beachside pad.
Welcome to The Empire’s airy, beachside pad.
There are prime locations and then there’s ‘The Empire’ and its north east facing state-of-the-art sub-penthouse with panoramic ocean views across Bondi Beach.
The contemporary sundrenched masterpiece offers 4-bedroom, 2-bathrooms and 2-car parking across 220sqm.
The unique address is the amalgamation of two oversized apartments and sees solid Tasmanian oak flooring and custom interior cabinetry and joinery throughout for a natural, airy aesthetic.
Naturally, the highlight of the home is the views out over Bondi Beach, brought into the home by 18-metres of wide bay windows – accompanied by an equal measure of sunbeds — capturing the entire length of the iconic beach.
The stylish residence sees an entertainer’s kitchen with Sub-Zero fridge, Miele appliances, Vola tapware and Carrara marble benchtops. Within the kitchen is also a dual entrance 4.5-metre walk-through pantry – to be filled with one’s gourmet dreams.
Elsewhere the home sees four tranquil bedrooms, each fitted with custom joinery while one of the four enjoys access to the private terrace.
The master retreat enjoys beach views and is replete with a marble ensuite and expansive ‘his’ and ‘hers’ walk-in dressing room.
The bathrooms are fitted with Villeroy and Boch porcelain and sees the same marble adornments as the master retreat.
Throughout the apartment, a number of invisible recessed art hanging systems are found – including in the bathrooms – while the apartment is illuminated by Italian Iguzzini lighting.
The combination of the artful design and natural timbers complements the beachside location –and is footsteps from a number of renowned restaurants, bars, cafes, coastal walks, boutique fashion, surf and sand.
The listing is with McGrath’s Simon Exleton (+61 414 549 966), POA; mcgrath.com.au
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
Amid looming rate rises, there are reasons to be cheerful as mortgage holders head into 2023
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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