Aston Martin Reveals ‘Sylvan Rock’, Its First Home
Step inside the first private residence offered by the British marque.
2 min
It’s no secret that Aston Martin’s design work is well appreciated outside the walls of the automotive industry.
And as such, the famous marque has dipped its toe into a number of endeavours including motorcycles, helicopters, boats and has now unveiled its first residence.
Designed in partnership with S3 Architecture, Sylvan Rock is a home set on a 22.2-hectare property in New York’s green Hudson Valley.
Accessed via a 610-metre driveway bordered by trees and rock walls, the main residence sees an angular form that takes its cues from the rock formations that make the surrounds so unique.
The home is encased in blackened cedar and glass and features four bedrooms, four bathrooms, two half baths and three-car automotive gallery garage (hello, lairs and galleries program). Elsewhere sees a custom wine cellar – wrapped in Aston’s signature cross-hatched lattice design, pool and an 81sqm pool house.
The living spaces give way to nature through double-height ceiling and walls of glass with a columnar fireplace the showpiece. Naturally, the interiors are furnished by Aston Martin home while the kitchen is informed by a monolithic island and private dining table fitted with Miele appliances, column refrigeration and the latest cooking tech.
The primary bedroom suite is glass-clad and cantilevers over the rock ledge to take in views of the Catskills mountains in the distance. Here you’ll also find a walk-in closet complete with a night bar for a pre-bed tipple.
The main bathroom sees two-person shower, double vanity, soaking tub and more of those natural views.
Not limited to the singular structure, the property also features multi-functional guest house “pods”, a treehouse, and an agricultural garden.
Best yet, it can be yours for approx. $10.8 million; sylvanrock.com
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Philip Lowe’s comments come amid property industry concerns about pressures on mortgage holders and rising rents
2 min
Leaders in Australia’s property industry are calling on the RBA to hit the pause button on further interest rate rises following yesterday’s announcement to raise the cash rate to 4.1 percent.
CEO of the REINSW, Tim McKibbin, said it was time to let the 12 interest rate rises since May last year take effect.
“The REINSW would like to see the RBA hit pause and allow the 12 rate rises to date work their way through the economy. Property prices have rebounded because of supply and demand. I think that will continue with the rate rise,” said Mr McKibbin.
The Real Estate Institute of Australia today released its Housing Affordability Report for the March 2023 quarter which showed that in NSW, the proportion of family income required to meet the average loan repayments has risen to 55 percent, up from 44.5 percent a year ago.
Chief economist at Ray White, Nerida Conisbee, said while this latest increase would probably not push Australia into a recession, it had major implications for the housing market and the needs of ordinary Australians.
“As more countries head into recession, at this point, it does look like the RBA’s “narrow path” will get us through while taming inflation,” she said.
“In the meantime however, it is creating a headache for renters, buyers and new housing supply that is going to take many years to resolve.
“And every interest rate rise is extending that pain.”
In a speech to guests at Morgan Stanley’s Australia Summit released today, Governor Philip Lowe addressed the RBA board’s ‘narrow path’ approach, navigating continued economic growth while pushing inflation from its current level of 6.8 percent down to a more acceptable level of 2 to 3 percent.
“It is still possible to navigate this path and our ambition is to do so,” Mr Lowe said. “But it is a narrow path and likely to be a bumpy one, with risks on both sides.”
However, he said the alternative is persistent high inflation, which would do the national economy more damage in the longer term.
“If inflation stays high for too long, it will become ingrained in people’s expectations and high inflation will then be self-perpetuating,” he said. “As the historical experiences shows, the inevitable result of this would be even higher interest rates and, at some point, a larger increase in unemployment to get rid of the ingrained inflation.
“The Board’s priority is to do what it can to avoid this.”
While acknowledging that another rate rise would adversely affect many households, Mr Lowe said it was unavoidable if inflation was to be tamed.
“It is certainly true that if the Board had not lifted interest rates as it has done, some households would have avoided, for a short period, the financial pressures that come with higher mortgage rates,” he said.
“But this short-term gain would have been at a much higher medium-term cost. If we had not tightened monetary policy, the cost of living would be higher for longer. This would hurt all Australians and the functioning of our economy and would ultimately require even higher interest rates to bring inflation back down.
“So, as difficult as it is, the rise in interest rates is necessary to bring inflation back to target in a reasonable timeframe.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
