A Warehouse Inspired Penthouse Like No Other
At 921sqm, it’s less like an apartment and more like a house.
2 min
The beauty of a warehouse-style conversion is found in its immense sense of space. This unique offering at 1/6 Tilbrook Street, Teneriffe on the Brisbane River offers vacuous amounts of loft and light across three levels.
The interplay of glass and architectural voids – combined with the 921sqm floorplan – sees this residence feel exceptionally large. With 6-bedrooms, 5-bathrooms and 4-car garage with direct access, the penthouse functions more like a rooftop home than an apartment.
The main living space sees soaring ceiling heights in which the kitchen – fitted with granite benchtops, Gaggenau appliances and a butler’s pantry – combines with the outdoor dining and living room. A vintage Indian motorbike has been bolted into the wall and comes with purchase.
Outdoors, the balcony provides plenty of space to entertain, with a built-in barbecue, refrigeration and kitchenette, while a glass shutter offers protection from the elements.
It’s also on this floor that you’ll find the master suite, which is complete by its own walk-in robe and ensuite.
Upstairs sees the remaining bedrooms, two of which are replete with ensuites. Also here, is the theatre room and a separate large bathroom.
Further, the top level sees more room for entertaining. Here a living space is complete with a powder room, two balconies, a bar and kitchenette, while a gas fireplace forms the centrepiece of the room.
Each floor is accessible via an internal lift, with the residence is also privy to a gym, cellar, guest suite and is controlled by a CBUS-like system that automates, blinds, shutters, the skylight, speakers – found throughout the house – aircon and Boffi fans.
One of only nine residences in the build, the address gives rare access to the restaurants, cafes and Gasworks precinct and is only a short walk to the river.
The listing is with Place’s Heath Williams (+61 403 976 115). Price guide $6m.
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.
New research suggests spending 40 percent of household income on loan repayments is the new normal
3 min
Requiring more than 30 percent of household income to service a home loan has long been considered the benchmark for ‘housing stress’. Yet research shows it is becoming the new normal. The 2024 ANZ CoreLogic Housing Affordability Report reveals home loans on only 17 percent of homes are ‘serviceable’ if serviceability is limited to 30 percent of the median national household income.
Based on 40 percent of household income, just 37 percent of properties would be serviceable on a mortgage covering 80 percent of the purchase price. ANZ CoreLogic suggest 40 may be the new 30 when it comes to home loan serviceability. “Looking ahead, there is little prospect for the mortgage serviceability indicator to move back into the 30 percent range any time soon,” says the report.
“This is because the cash rate is not expected to be cut until late 2024, and home values have continued to rise, even amid relatively high interest rate settings.” ANZ CoreLogic estimate that home loan rates would have to fall to about 4.7 percent to bring serviceability under 40 percent.
CoreLogic has broken down the actual household income required to service a home loan on a 6.27 percent interest rate for an 80 percent loan based on current median house and unit values in each capital city. As expected, affordability is worst in the most expensive property market, Sydney.
Sydney
Sydney’s median house price is $1,414,229 and the median unit price is $839,344.
Based on 40 percent serviceability, households need a total income of $211,456 to afford a home loan for a house and $125,499 for a unit. The city’s actual median household income is $120,554.
Melbourne
Melbourne’s median house price is $935,049 and the median apartment price is $612,906.
Based on 40 percent serviceability, households need a total income of $139,809 to afford a home loan for a house and $91,642 for a unit. The city’s actual median household income is $110,324.
Brisbane
Brisbane’s median house price is $909,988 and the median unit price is $587,793.
Based on 40 percent serviceability, households need a total income of $136,062 to afford a home loan for a house and $87,887 for a unit. The city’s actual median household income is $107,243.
Adelaide
Adelaide’s median house price is $785,971 and the median apartment price is $504,799.
Based on 40 percent serviceability, households need a total income of $117,519 to afford a home loan for a house and $75,478 for a unit. The city’s actual median household income is $89,806.
Perth
Perth’s median house price is $735,276 and the median unit price is $495,360.
Based on 40 percent serviceability, households need a total income of $109,939 to afford a home loan for a house and $74,066 for a unit. The city’s actual median household income is $108,057.
Hobart
Hobart’s median house price is $692,951 and the median apartment price is $522,258.
Based on 40 percent serviceability, households need a total income of $103,610 to afford a home loan for a house and $78,088 for a unit. The city’s actual median household income is $89,515.
Darwin
Darwin’s median house price is $573,498 and the median unit price is $367,716.
Based on 40 percent serviceability, households need a total income of $85,750 to afford a home loan for a house and $54,981 for a unit. The city’s actual median household income is $126,193.
Canberra
Canberra’s median house price is $964,136 and the median apartment price is $585,057.
Based on 40 percent serviceability, households need a total income of $144,158 to afford a home loan for a house and $87,478 for a unit. The city’s actual median household income is $137,760.
This stylish family home combines a classic palette and finishes with a flexible floorplan
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