Everlane’s Elevated Workplace Appeal
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Everlane’s Elevated Workplace Appeal

The chic Cremorne development responds to demand for commercial design and innovation.

By Sponsored Content
Thu, Jun 24, 2021 3:20pmGrey Clock 2 min

As the Melbourne suburb of Cremorne continues to urbanise, developer CostaFox has responded to the need for a ‘different’ kind of office space with a designer collection of premium strata office spaces, Everlane.

Boasting architecture by Fieldwork and interiors by Mim Design, Everlane brings together aesthetics and amenity in a 9-storey premium strata office development. Here, office spaces range from 68sqm to a whole floor at 613sqm.

The upper levels of Everlane enjoy views of Melbourne’s CBD, Richmond, South Yarra and beyond, with flexible floor plates allowing customisable office layouts. All offices enjoy natural ventilation and 3.45m typical ceiling heights with floor-to-ceiling wind glazing.

Everlane’s Elevated Workplace

Upon entry, the café and pocket park acts as the transition between bustling commercial precinct beyond and the curated offices within.

Michael Fox, of CostaFox Developments was intent on the final product offering a point of difference.

“Create something a little better, stand out from the crowd and be proud of our timeless projects. Everlane will do just that, we will create something better than the rest,” said Mr. Fox.

Everlane’s Elevated Workplace

In an effort to surpass modern standards, Everlane is replete with touchless entry, a digital directory – which allows for easy navigation of the building’s various owners, tenants and visitors – and a building manager which has capacity to complete tasks that may be traditionally reserved for an office manager.

Further, a number of ‘end-of-trip’ facilities have been designed to encourage corporate health and wellbeing for office workers. Here, Everlane offers bike storage over multiple levels, charging stations, change rooms, showers and lockers.

Elsewhere, the rooftop terrace is a destination in its own right, with BBQ facilities, and elevated views of greater Melbourne.

The office suites, which come with at least one secure car space, are listed through Colliers International agent Ben Baines, Ted Dwyer, Raphael Favas and Chris Ling.

Everlanecremorne.com.au



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How much income is required to service a mortgage? It depends on where you live

New research suggests spending 40 percent of household income on loan repayments is the new normal

By Bronwyn Allen
Thu, Apr 25, 2024 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.

 

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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