Forget Byron Bay. This is the home of quiet luxury
This little known pocket of paradise is attracting attention, for all the right reasons
2 min
Byron Bay may steal all the headlines but those in the know understand that, back from the beach, it’s the hinterland drawing the discerning buyers with deep pockets.
This property at 20 Wood Crescent sits on 2 acres at Coopers Shoot offers drop dead gorgeous views of undulating hills in a luxury environment.
Fittingly called The Retreat, the boomerang-shaped floorplan includes four bedrooms (one in a self-contained space on the lower ground floor), three bathrooms and multiple living spaces. Central to the design is the spacious open plan living area, with a well-appointed kitchen offering a commanding view of the generous alfresco space and heated infinity edge pool outside. The kitchen is kitted out with a Liebherr fridge/freezer, Miele oven and dishwasher and is serviced by a butler’s pantry with Zip tap, making it ideal for catering or quiet nights at home.
The property has everything you would expect from a luxury home, including a cinema room with surround sound Krix speakers and full HD Epson projector. The light-filled master suite offers views over the valley and includes a day-spa style ensuite, dual walk-in robes and direct access to the deck. An automated irrigation system takes care of the garden
But perhaps the greatest luxury for those with sustainability in mind are the renewable energy features, which include a generous 31kw solar system, 160 kw battery and Tesla charging station.
Just 10 minutes to beautiful Bangalow or central Byron Bay, you’re never far from the action. At the same time, Starlink internet and separate workshop and office spaces give you the option to work from home whenever the mood takes.
Quiet luxury indeed.
Address: 20 Wood Crescent, Coopers Shoot
Price guide: $12.5m – $15m
Closing date: Friday, May 12 5pm
Inspection: By appointment
Land size: 7442sqm
Agent: Nick Dunn, McGrath Byron Bay 0448 301 111
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
New research suggests spending 40 percent of household income on loan repayments is the new normal
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.
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
