ANZ Bank Tips House Price Rise

Australian housing prices are set to rise 17% in 2021 across capital cities according to ANZ economists.

Sydney and Perth housing prices are predicted to rise by 19% in 2021, with Hobart (18%), Melbourne and Brisbane (16%) and Adelaide (13%), following on.

ANZ reported that property prices rose a rapid 9% in the month of February, accelerating sharply from the 0.5– 0.6% gains over the previous three months.

The latest figures are a stark difference from the forecast 9% national rise for 2021 previously predicted by the bank.

ANZ senior economist Felicity Emmett said she expected the Australian Prudential Regulation Authority (APRA) would then introduce macroprudential measures later in the year to slow house price growth to 6% in 2022.

The new forecast figures comes as the red-hot property market continues to surge amid ultra-low interest rates, the likelihood that rates will stay low and pent-up demand following last year’s lockdown measures.

Prince Albert House is a stately Federation manor showcasing just how Mosman’s grand architectural past can be expertly coupled with a contemporary renovation.

Surrounded by some of Mosman’s greatest estates, the regal residence once known as Candida underwent a rebranding and a significant renovation several years ago before it last changed hands in 2016 for $10 million.

Today’s vendors, publican Matthew Fallon and his partner Tamara Martin, have engaged Michael Coombs and Tia Naris of Atlas Lower North Shore to market the property with the auction guide sitting at $15.75 million.

Only the fourth owner in the property’s 117-year history, Fallon is one of three brothers behind The Buena in Mosman. Matthew, Luke, and Tim Fallon bought the Middle Head Rd watering hole Buena Vista Hotel in 2015 for more than $13m before renaming it.

Sitting on 1254sq m of estate-like grounds on Prince Albert St, one of Mosman’s most sought-after streets, this stately house is a blend of old-world charm meets modern luxury, coupled with enviable views of the iconic Harbour Bridge and water.

The period property’s transformation was initiated by the previous owner, recruitment boss Jeromine Alpe, who enlisted Giles Tribe Architects for the bulk of the renovations. Fallon and Martin added their own personal touches later on.

“This is a really beautiful house with lots of space. So many Federation homes have pokey rooms and a difficult layout but this one has been really opened up to be a historic home with a very modern floor plan,” said Coombs.

Inside, Prince Albert House has a host of charming historic detail paying homage to its Federation roots including high ornate ceilings, intricate leadlight windows, and grand marble fireplaces. The 21st Century additions like the Calacatta marble kitchen with custom butler’s pantry and seamless connections to the great outdoors are also perfectly suited to today’s must-have Sydney lifestyle.

The large layout features formal living and dining rooms with bay windows, casual family zones and big bedrooms with built-ins. In the primary bedroom suite, separated from the rest of the house on the first floor, there is a walk-through wardrobe to a deluxe bath ensuite as well as two balconies, a sitting area and an adjoining home office. Two more bedrooms also feature ensuites.

Resort style amenities of the Mosman property include a swimming pool surrounded by manicured gardens, sandstone feature walls, a gym with a sauna and ensuite, plus a large wine cellar.

Close to a long list of lifestyle locations, the house is near family-friendly harbour beaches, Taronga Zoo, Mosman’s shopping precinct, coveted schools and city ferries.

Prince Albert House at 13 Prince Albert St, Mosman is currently listed with Michael Coombs of Atlas and is scheduled to go to auction on November 2.

ANZ Bank Tips House Price Rise

A predicted 17% rise this year could lock out first-home buyers.