ANZ Tower Penthouse Sells For Record Price | Kanebridge News
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ANZ Tower Penthouse Sells For Record Price

After three-years on the market, the luxurious residence changes hands.

By Terry Christodoulou
Thu, Jun 3, 2021 3:07pmGrey Clock < 1 min

Ian Malouf, founder of Dial-a-Dump, has purchased the ANZ Tower penthouse owned by property developer John Boyd for a record $60 million.

The sale of the impressive apartment sets a national record for a single, built apartment.

Mr Malouf, who sold Dial-a-Dump in 2018 to Bingo Industries, bought the penthouse on Saturday night.

ANZ Tower “sky mansion” was initially listed in 2018, with a price guide of $60m – $66m with Bill Malouf of LJ hooker Double Bay and Christie’s Ken Jacobs. The sale is currently the most expensive residential sale in the country this year.

ANZ Tower was complete in 2013, with the home of Mr Boyd and his wife not yet finalised until 2015. Inside sees interiors by Blainey North spread across the 2000sqm abode.

The penthouse is accessed by an express lift from a private car park. The vast floor plan includes a conference room, club-like study, gym, cigar room, and unbelievable rooftop complete with swimming pool, two terraces and a cabana lounge.

Despite the penthouse’s record price, construction is underway of James Packer’s $60m two-storey apartment in Crown Residences at Barangaroo alongside a $140m consolidation of the top three floors of Lendlease’s neighbouring One Sydney Harbour Tower 1 development.

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Australian house values continue to fall – but the pace of decline has slowed

Data reveals house values have continued to decrease, but the rate has slowed as the RBA Board prepares to meet next week

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Thu, Dec 1, 2022 2 min

House values continued to fall last month, but the pace of decline has slowed, CoreLogic reports.

In signs that the RBA’s aggressive approach to monetary policy is making an impact, CoreLogic’s Home Value Index reveals national dwelling values fell -1.0 percent in November, marking the smallest monthly decline since June.

The drop represents a -7.0 percent decline – or about $53,400 –  since the peak value recorded in April 2022. Research director at CoreLogic, Tim Lawless, said the Sydney and Melbourne markets are leading the way, with the capital cities experiencing the most significant falls. But it’s not all bad news for homeowners.

“Three months ago, Sydney housing values were falling at the monthly rate of -2.3 percent,” he said. “That has now reduced by a full percentage point to a decline of -1.3 percent in November.  In July, Melbourne home values were down -1.5 percent over the month, with the monthly decline almost halving last month to -0.8%.”

The rate of decline has also slowed in the smaller capitals, he said.  

“Potentially we are seeing the initial uncertainty around buying in a higher interest rate environment wearing off, while persistently low advertised stock levels have likely contributed to this trend towards smaller value falls,” Mr Lawless said. “However, it’s fair to say housing risk remains skewed to the downside while interest rates are still rising and household balance sheets become more thinly stretched.” 

The RBA has raised the cash rate from 0.10 in April  to 2.85 in November. The board is due to meet again next week, with most experts still predicting a further increase in the cash rate of 25 basis points despite the fall in house values.

Mr Lawless said if interest rates continue to increase, there is potential for declines to ‘reaccelerate’.

“Next year will be a particular test of serviceability and housing market stability, as the record-low fixed rate terms secured in 2021 start to expire,” Mr Lawless said.

Statistics released by the Australian Bureau of Statistics this week also reveal a slowdown in the rate of inflation last month, as higher mortgage repayments and cost of living pressures bite into household budgets.

However, ABS data reveals ongoing labour shortages and high levels of construction continues to fuel higher prices for new housing, although the rate of price growth eased in September and October. 

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