Five Properties To Buy For $1 Million
Here’s the best of what you can get around the country.
4 min
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
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
