Five Properties To Buy For $1 Million

PERTH: 134A Rosebery Street Bedford WA 6052

‘Go west’ Pet Shop Boys famously warbled, and looking at this central and affordable Perth pile, it’s hard to disagree.

A designer abode within easy reach of the CBD, coffee strip and with a pool? Little wonder many are leaving the east in search of affordable lifestyle offerings such as this.

Only eight years old, this two-storey affair offers bedroom upstairs – the main suite with generous sitting area, WIR and ensuite – with alluring living on the ground, inclusive of open-plan, designer living/dining/kitchen (the latter with Smeg appliances) as well as cinema room and neat study.

The downstairs seamlessly opens to a generous and decked outdoor alfresco area and the aforementioned in-ground pool. This is designer living well conceived – an energy-efficient home featuring solar passive design, ground floor concrete slab heating, brick wall insulation as well as commercial-grade glazing throughout.

Located just a 10-minute walk from the acclaimed Beaufort St cafe strip, the home rests opposite Catherine Reserve, with an abundance of schools, Galleria Morley and Inglewood shopping just moments away.

All offers presented by Friday April 9 at 5pm. The property is with Chris Pham of Remark Urban; urban.realmark.com.au

MELBOURNE: 7A/29 Queens Road Melbourne VIC 3004

With uninterrupted views across Albert Park Lake, Port Phillip Bay and the City Skyline, this is light-filled, central living at its best.

Boasting two bedrooms – the main with neatly held ensuite and exclusive, private balcony – the seventh-floor offering extends to another bedroom (which also leads to main, wrap-around balcony), well-appointed, granite kitchen and modern main bathroom as well as neat laundry and secure car park with lift access and storage cage.

The main living/dining rests independently of the kitchen and boasts timber flooring and exemplary views via floor-to-ceiling windows throughout.

Located in an alluring Art Deco-inspired building, enjoy private resident’s fully-equipped gym, heated indoor swimming pool and spa, expansive terrace overlooking Albert Park Golf Course and also building manager.

Located on the edge of the CBD, enjoy easy access to the Royal Botanic Gardens and Fawkner Park, with nearby trams on Toorak Road.

Asking $920,000 – $1,000,000 and listed with Gary Ormrod of Kay & Burton South Yarra; kayburton.com.au

SYDNEY: 49 Bestic Street, Rockdale, NSW 2216

With Sydney’s median house price well above the $1.2 million mark, you may be thinking it’s impossible to get a house close to the CBD for that mythical price.

Enter this charming 4-bedroom solid brick home in Rockdale, in Sydney’s south. Less than 15km or 20-minutes from the CBD, this expansive one-storey family home sees plenty of its original character features left behind such as decorative ceilings, a fireplace and polished timber floors.

Elsewhere, the home has been extensively modernised, with new kitchen and bathroom fixtures bringing the property into the contemporary age.

Further, the home is located on the ‘high-side’ of Bestic Street, which means the elevated back veranda, which flows on from the kitchen, gives far-reaching district views.

With Rockdale shops, train station and access to freeway connections all nearby, it’s a bargain in a convenient location.

Auction is April 10, price guide $1 million; bayview.century21.com.au

BRISBANE: 18 Power Street, Norman Park, Qld 4170

Moments from Brisbane CBD arrives this warm, inviting character home.

The 3-bedroom, 2-bathroom, 2-car garage sees French doors lead you into the lounge and kitchen area which is complete stone benchtops and Miele appliances

Here, an open plan living space is found upstairs with city views. The main living area sees polished timber flooring and high ceilings alongside a lounge room with built-in cabinetry.

The main living area is separated from the bedroom quarters allowing for a quiet space, with the main bedroom featuring an ensuite with double basins and walk-in wardrobe.

Importantly, Norman Park offers a list of local amenities you can’t pass up. Nearby cafes on Oxford Street in Bulimba alongside access to the CityCat into the CBD is coupled with elite schooling options all moments away.

The listing is with Emil Jeresic of NGU Real Estate, POA;.ngurealestate.com.au/

ADELAIDE: 2/108 Stephen Terrace, Gilberton, SA 5081

Situated in one of Adelaide’s most prestigious location comes this two-storey, 3-bedroom, 3-bathroom, 2 car garage home in stunning Mt Gambier stone.

Downstairs comprises a spacious open plan living and dining complete with a sleek modern kitchen, new appliances and walk-in pantry.

A double-height void to the second storey brings in natural light that is further highlighted by a gorgeous glass chandelier.

A gas log fire, flanked by built-in glass display cabinets is the focal point of the living room, while a separate study with an outlook to a private front garden is also found in the home.

Concertina café-style doors give access to the alfresco dining area, while a family room on the first floor opens to a large terrace enjoying tree-top views.

Close to Adelaide Botanic, The Linear Park and Adelaide’s finest private schools, it’s the ideal family home nearby to Adelaide CBD.

The listing is with Richard Hayward of Klemich property, POA; klemich.com.au

Ray White’s chief economist, Nerida Conisbee says property price growth will continue next year and mortgage holders will need to “survive until 2025” amid expectations of higher interest rates for longer.

Ms Conisbee said strong population growth and a housing supply shortage combatted the impact of rising interest rates in 2023, leading to unusually strong price growth during a rate hiking cycle. The latest CoreLogic data shows home values have increased by more than 10 percent in the year to date in Sydney, Brisbane and Perth. Among the regional markets, price growth has been strongest in regional South Australia with 8.6 percent growth and regional Queensland at 6.9 percent growth.

“As interest rates head close to peak, it is expected that price growth will continue. At this point, housing supply remains extremely low and many people that would be new home buyers are being pushed into the established market,” Ms Conisbee said. “Big jumps in rents are pushing more first home buyers into the market and population growth is continuing to be strong.”

Ms Conisbee said interest rates will be higher for longer due to sticky inflation. “… we are unlikely to see a rate cut until late 2024 or early 2025. This means mortgage holders need to survive until 2025, paying far more on their home loans than they did two years ago.”

Buyers in coastal areas currently have a window of opportunity to take advantage of softer prices, Ms Conisbee said. “Look out for beach house bargains over summer but you need to move quick. In many beachside holiday destinations, we saw a sharp rise in properties for sale and a corresponding fall in prices. This was driven by many pandemic driven holiday home purchases coming back on to the market.”

3 key housing market trends for 2024

Here are three of Ms Conisbee’s predictions for the key housing market trends of 2024.

Luxury apartment market to soar

Ms Conisbee said the types of apartments being built have changed dramatically amid more people choosing to live in apartments longer-term and Australia’s ageing population downsizing. “Demand is increasing for much larger, higher quality, more expensive developments. This has resulted in the most expensive apartments in Australia seeing price increases more than double those of an average priced apartment. This year, fewer apartments being built, growing population and a desire to live in some of Australia’s most sought-after inner urban areas will lead to a boom in luxury apartment demand.”

Homes to become even greener

The rising costs of energy and the health impacts of heat are two new factors driving interest in green homes, Ms Conisbee said. “Having a greener home utilising solar and batteries makes it cheaper to run air conditioning, heaters and pool pumps. We are heading into a particularly hot summer and having homes that are difficult to cool down makes them far more dangerous for the elderly and very young.”

More people living alone

For some time now, long-term social changes such as delayed marriage and an ageing population have led to more people living alone. However, Ms Conisbee points out that the pandemic also showed that many people prefer to live alone for lifestyle reasons. “Shorter term, the pandemic has shown that given the chance, many people prefer to live alone with a record increase in single-person households during the time. This trend may influence housing preferences, with a potential rise in demand for smaller dwellings and properties catering to individuals rather than traditional family units.”