Prestige Property: 5&6/70 Campbell Pde, Bondi Beach, NSW
Welcome to The Empire’s airy, beachside pad.
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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
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
