A Pastoral Study In Elegant Country Living | Kanebridge News
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A Pastoral Study In Elegant Country Living

A luxurious Southern Highlands pile set in lush ‘English grounds’.

By Terry Christodoulou
Sun, Sep 27, 2020 2:49amGrey Clock 2 min

Located in the pastoral outpost of Burradoo in the NSW southern highlands, Riversdale House  – 15 Werrington Street Buradoo – is a study in elegant country living.

Two hours south of Sydney, adjacent to well-known Bowral and a ten-minute meander on foot to the local township — the luxurious house sits on a manicured 1.6-acres and holds 3-bedrooms, 4-bathrooms, 3-car parking as well as verdant surrounds.

Through the portico entrance, the beautifully crafted home sees lofty 3.9-metre ceilings with Egyptian limestone flooring underfoot, as well as antique stone fireplaces throughout.

The residence is divided into two distinct areas – ground level home to the formal dining, sitting room and deluxe chef’s kitchen (think luxurious European appliances including two Liebherr fridges, Miele induction cooktop with wok burner and Gaggenau oven).

The upstairs features the library and three bedrooms, each with ensuite in either marble or black granite and underfloor heating. The master suite, meanwhile, has timber French doors that open to a long private balcony overlooking the gardens.

Outdoors is where the home comes into its own. Boston ivy-covered walls, paved entertainment areas and large pergolas present a relaxing sense of splendour, matched by the gas heated swimming pool.

The listing is with Harriet France (+61 408 936 373) of Sotheby’s International Realty Sydney, in conjunction with Samuel Lindsay (+61 404 647 609) of Drew Lindsay Real Estate, and is on at $5.9m.

Sydneysothesbysrealty.com

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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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