Modern Luxury’s New Toorak Address
Step inside this stunning residence in Melbourne’s most-wanted suburb.
2 min
Located on the most desirable street in Melbourne’s most coveted suburb comes this architectural wonder.
The brand new contemporary 5-bedroom, 6-bathroom, 7-car garage residence is the pinnacle of luxury, quality, home technology and scale.
The interiors see the unified palette of French oak, Travertine stone and floor-to-ceiling glass walls throughout with parquetry flooring and bespoke joinery featuring prominently.
Upon entering, the plastered spiral staircase immediately dominates the lobby. Also here is the main living area, with the open plan space replete with gas log fireplace and built-in bar with two Liebherr wine fridges.
The centrally located kitchen is fitted with Travertine and is appointed with a commercial Wolf oven and steam oven alongside two integrated Liebherr fridge-freezers, a further cool room and a butler’s pantry.
Further entertaining options are extended outside to the outdoor dining room which sees a Wolf BBQ kitchen that opens through bi-fold glass doors to the north-facing garden with heated pool and mod grass tennis court.
The ground floor plays host to a guest bedroom, with Travertine ensuite and built-in robe while the upstairs family accommodation comprises of an opulent master suite, complete with a decadent ensuite – also in travertine – and another gas log fire, north-facing balcony, dual walk-in robes.
Three additional bedrooms — each with walk-in robes and ensuites and a retreat with a bar completes the upstairs space.
The basement level features a stylish entertaining zone complete with a lounge, fully fitted home theatre, wet bar, wine room, yoga studio or gym, change room and bathroom with sauna and steam room alongside the seven-car garage.
Further luxuries one can expect include a comprehensive list of home automation and smart home features, keypad entry and CCTV, and two further marble powder rooms.
The listing is with Marshall White Stonnington’s Marcus Chiminello (+61 411 411 271), with a price guide of $24.5 – $26.5 million. Marshallwhite.com.au
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
The insurance premium gap between flood affected and non-flood affected homes is significant
2 min
Climate change is already affecting home values due to the impact of more severe weather events and rising home insurance premiums, and the cost of building is likely to rise as regulatory changes designed to enhance climate resilience alter building codes and zoning laws, according to a new report.
The National Housing Supply and Affordability Council describes climate change as an emerging trend that is raising the cost and complexity of supplying more housing. In its newly released State of the Housing System report, the council discusses how climate change is reducing the value of some homes when major weather events cause flooding or other natural disasters.
“The price differential between flood-affected and non-flood affected homes has been estimated to be up to 35 percent a year after a flooding event,” the report says. “Furthermore, the RBA estimates around 7.5 percent of properties are in areas that could experience price falls of at least 5 percent due to climate change by 2050.”
More than one million households are struggling to afford home insurance, and rates of non-insurance are increasing due to the cost. For example, the Australian Competition and Consumer Commission estimated that 40 percent of homes in Northern Western Australia were uninsured in 2020.
“Climate change is causing home insurance premiums to rise across Australia, adding to already elevated housing costs. Homeowners in areas considered at–risk of natural disasters are expected to see insurance premiums rise further or have difficulty obtaining insurance due to heightened risks.”
More frequent and severe weather events such as cyclones and bushfires, as well as coastal erosion and flooding from rising sea levels, present risks to housing safety. More than 3,000 homes were lost in the 2019-20 bushfire season, causing $2.3 billion in insurance losses. The report says the predicted direct cost of natural disasters to the economy and housing will be $35.2 billion per year by 2050.
Climate change and net-zero targets could raise the cost of building new homes, the report says. “Regulatory changes to enhance climate resilience will alter building codes and zoning regulations.
Developers facing higher compliance costs may have difficulties meeting updated standards, potentially delaying or reducing housing availability.”
However, the report says the increased cost of building a home with climate-resistant materials and eco-friendly features is more than offset by lower energy costs over a property’s lifetime. The current minimum energy efficiency requirements within the National Construction Code are estimated to deliver a household–level benefit-to-cost ratio of 1.37, according to the report.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
