Good manors are hard to find
Kanebridge News
Share Button

Good manors are hard to find

This rare property sits head and shoulders above its neighbours

By Robyn Willis
Wed, Feb 8, 2023 2:38pmGrey Clock 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

 



MOST POPULAR

Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

Related Stories
Property
The locations where apartment rents are picking up the pace
By Bronwyn Allen 05/03/2024
Property
Hong Kong Takes Drastic Action to Avert Property Slump
By ELAINE YU 01/03/2024
Property
The Australian capitals experiencing world-class price growth in luxury real estate
By Bronwyn Allen 29/02/2024
The locations where apartment rents are picking up the pace

Stronger demand in some areas is pushing unit rents up faster than houses

By Bronwyn Allen
Tue, Mar 5, 2024 3 min

Renters are returning to the apartment market, leading to higher growth in weekly rents for units than houses over the past year, according to REA data. As workers return to their corporate offices, tenants are coming back to the inner city and choosing apartment living for its affordability.

This is a reversal of the pandemic trend which saw many renters leave their inner city units to rent affordable houses on the outskirts. Working from home meant they did not have to commute to the CBD, so they moved into large houses in outer areas where they could enjoy more space and privacy.

REA Group economic analyst Megan Lieu said the return to apartment living among tenants began in late 2021, when most lockdown restrictions were lifted, and accelerated in 2022 after Australia’s international border reopened.

Following the reopening of offices and in-person work, living within close proximity to CBDs has regained importance,” Ms Lieu said.Units not only tend to be located closer to public transport and in inner city areas, but are also cheaper to rent compared to houses in similar areas. For these reasons, it is unsurprising that units, particularly those in inner city areas, are growing in popularity among renters.

But the return to work in the CBD is not the only factor driving demand for apartment rentals. Rapidly rising weekly rents for all types of property, coupled with a cost-of-living crisis created by high inflation, has forced tenants to look for cheaper accommodation. This typically means compromising on space, with many families embracing apartment living again. At the same time, a huge wave of migration led by international students has turbocharged demand for unit rentals in inner city areas, in particular, because this is where many universities are located.

But it’s not simply a demand-side equation. Lockdowns put a pause on building activity, which reduced the supply of new rental homes to the market. People had to wait longer for their new houses to be built, which meant many of them were forced to remain in rental homes longer than expected. On top of that, a chronic shortage of social housing continued to push more people into the private rental market. After the world reopened, disrupted supply chains meant the cost of building increased, the supply of materials was strained, and a shortage of labour delayed projects.

All of this has driven up rents for all types of property, and the strength of demand has allowed landlords to raise rents more than usual to help them recover the increased costs of servicing their mortgages following 13 interest rate rises since May 2022. Many applicants for rentals are also offering more rent than advertised just to secure a home, which is pushing rental values even higher.

Tenants’ reversion to preferring apartments over houses is a nationwide trend that has led to stronger rental growth for units than houses, especially in the capital cities, says Ms Lieu. “Year-on-year, national weekly house rents have increased by 10.5 percent, an increase of $55 per week,” she said.However, unit rents have increased by 17 percent, which equates to an $80 weekly increase.

The variance is greatest in the capital cities where unit rents have risen twice as fast as house rents. Sydney is the most expensive city to rent in today, according to REA data. The house rent median is $720 per week, up 10.8 percent over the past year. The apartment rental median is $650 per week, up 18.2 percent. In Brisbane, the median house rent is $600 per week, up 9.1 percent over the past year, while the median rent for units is $535 per week, up 18.9 percent. In Melbourne, the median house rent is $540 per week, up 13.7 percent, while the apartment median is $500 per week, up 16.3 percent.

In regional markets, Queensland is the most expensive place to rent either a house or an apartment. The house median rent in regional Queensland is $600 per week, up 9.1 percent year-onyear, while the apartment median rent is $525, up 16.7 percent.

MOST POPULAR

Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

Related Stories
Money
More Americans Than Ever Own Stocks
By HANNAH MIAO 19/12/2023
Property
Return to Work Is Coming for Your Pandemic-Era Home
By LIBERTINA BRANDT 24/11/2023
Lifestyle
Starbucks’ New CEO Tells Investors He Plans to Follow the Schultz Roadmap
By Sabrina Escobar 03/11/2023
0
    Your Cart
    Your cart is emptyReturn to Shop