Property Of The Week: 9A Andrew Avenue, Millswood, SA
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Property Of The Week: 9A Andrew Avenue, Millswood, SA

Everlasting style meets contemporary inner-city living.

By Terry Christodoulou
Wed, Apr 21, 2021 4:30pmGrey Clock < 1 min

This unique residence located in Adelaide’s Millswood is a contemporary exercise in class and quality.

Located on a 509sqm plot nearby to Hyde Park’s cobblestone centre, and moments to the CBD, this 3-bedroom, 3-bathroom, 2-car garage home comes with a combination of solar-powered tech, security, easy-living footprint, lap-pool and an enviable mandate to entertain.

Inside sees high-end finishes with generous dimensions from its formal lounge and master retreat to the open-plan rear – fitted with a gas fireplace – boasting access to the pavilion and the heated pool.

The layout is complemented by the home’s soaring ceiling, striking kitchen – fitted with Miele appliances, stone benchtops and butler’s pantry – and sleek bathrooms, including a two-way ensuite servicing bedroom 2 and 3.

Further, the main bedrooms sees a large walk-in robe, access to the front verandah and private ensuite.

Elsewhere the home boasts an abundance of storage through an in-built Sonos sound system

The home is nearby to Adelaide’s best parks. Goodwood’s cafes and theatre, King William road’s food and fashion and transport to the CBD.

The listing is with James Robertson (+61 421 882 997) of Ouwens Casserly Real Estate. Expressions of Interest; ocre.com.au

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

By KANEBRIDGE NEWS
Mon, Feb 6, 2023 2 min

Mortgage holders should brace themselves for more pain as the Reserve Bank of Australia board prepares to meet this afternoon 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 suggested yesterday 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 could present the RBA with the chance to put further rate rises on hold 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 2022 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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