Good manors are hard to find
This rare property sits head and shoulders above its neighbours
2 min
There are standard properties in Sydney. And then there’s Glenview Manor. Positioned to capture views of the Blue Mountains, this Glenhaven home at 406 Old Northern Road is an elevated property in every sense of the word.
Once belonging to a much larger parcel of land, the 60-year-old 4262sqm residence, which includes a two-level house, pool and pool house and triple garage, is reached via a long access way leading to a circular driveway.
Planning on building your own home in the Hills District? Check out this off market listing in Glenhaven here.
It has been in the same hands for more than 30 years and the home has been upgraded over that period, with a large Shaker-style Degabriele kitchen including granite benchtops and stainless steel appliances, formal and informal living and dining spaces, marble fireplaces and crafted timberwork throughout.
The six bedrooms are spread over two floors, including a spacious master suite and light-filled ensuite on the ground floor plus three more bedrooms on the lower floor. Two of the bedrooms on the lower floor would be suitable for accommodating older children or the in laws. Alternatively, the large home office under the garage could work equally well for accommodating long or short term guests, with direct access to an ensuite bathroom and sauna, or as a home gym or yoga room.
Set among well-maintained, established gardens, this property is ideal for outdoor entertaining, with a covered alfresco dining space to the northern side of the house and a 12m pool and spa. An additional carport by the main kitchen entrance also allows catering to be delivered right to the door.
A short drive to Castle Hill Metro, Castle Towers and Oakhill College, this property is a rare find.
Address: 406 Old Northern Road, Glenhaven
Auction: Saturday, February 25
Open for Inspection: Friday, February 10, 6pm
Price guide: $6 million
Agent: Karen D’Angola, DiJones Real Estate Hills District 0438 974 253
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
