Hamilton’s Hottest Home Is Up For Grabs
High on the hill, this architectural wonder could be one of Brisbane’s finest.
2 min
Perched on the spectacularly private Hamilton hill, 55 Markwell street is a luxurious three-story residence boasting panoramic views of Brisbane’s CBD.
Designed by architect Shaun Lockyer, the 6-bedroom, 5-bathroom, 4-car garage residence is filled with a raft of resort-like amenities across a 2456sqm plot, only 10 minutes from the CBD and airport.
The main house offers over 1000sqm of living space and is fitted with a heady combination of timber, glass and stone achieving a contemporary aesthetic through floor to ceiling glass doors and windows, lofty ceiling heights and timber panelling.
On the first level, the kitchen well-appointed with Miele appliances, a marble island and is bordered with stonework pylons alongside a walkthrough butler’s pantry. Creating a free-flowing space are connections to the formal dining, casual dining, family room, lounge and outdoor deck area.
Additionally, on the first level is a study alongside four of the bedrooms, three of which come with ensuites.
Throughout the home, the bathrooms are adorned in a combination of limestone tiling or marble benchtops, with the aforementioned timber, stone, glass design trinity referenced.
Up the marble staircase, the upper level sees the master retreat, complete with its own ensuite, boasting twin vanities and ‘his’ and ‘hers’ walk-in robes and more impressive views.
The lower level of the home sees a private squash court, games room, personal gym, theatre and cellar, along with a laundry and yet another bathroom.
Built to entertain, the deck area and backyard host an outdoor kitchen, complete with barbecue, pizza oven, sink, built-in refrigeration and fire pit. There’s also a jaw-dropping 21-metre heated lap pool complemented by a spa and sauna.
On the technology front, the home is fitted with a C-bus lighting system, multi-zone security system with cameras and a Sonos sound system.
The residence also offers a separate fully self-contained one-bedroom cottage for the housekeeper or guests.
The listing is the Ray White New Farm’s Matt Lancashire (+61 416 476 480). POA
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.
This may be contributing to continually rising weekly rents
2 min
There has been a substantial increase in the number of Australians earning high incomes who are renting their homes instead of owning them, and this may be another element contributing to higher market demand and continually rising rents, according to new research.
The portion of households with an annual income of $140,000 per year (in 2021 dollars), went from 8 percent of the private rental market in 1996 to 24 percent in 2021, according to research by the Australian Housing and Urban Research Institute (AHURI). The AHURI study highlights that longer-term declines in the rate of home ownership in Australia are likely the cause of this trend.
The biggest challenge this creates is the flow-on effect on lower-income households because they may face stronger competition for a limited supply of rental stock, and they also have less capacity to cope with rising rents that look likely to keep going up due to the entrenched undersupply.
The 2024 ANZ CoreLogic Housing Affordability Report notes that weekly rents have been rising strongly since the pandemic and are currently re-accelerating. “Nationally, annual rent growth has lifted from a recent low of 8.1 percent year-on-year in October 2023, to 8.6 percent year-on-year in March 2024,” according to the report. “The re-acceleration was particularly evident in house rents, where annual growth bottomed out at 6.8 percent in the year to September, and rose to 8.4 percent in the year to March 2024.”
Rents are also rising in markets that have experienced recent declines. “In Hobart, rent values saw a downturn of -6 percent between March and October 2023. Since bottoming out in October, rents have now moved 5 percent higher to the end of March, and are just 1 percent off the record highs in March 2023. The Canberra rental market was the only other capital city to see a decline in rents in recent years, where rent values fell -3.8 percent between June 2022 and September 2023. Since then, Canberra rents have risen 3.5 percent, and are 1 percent from the record high.”
The Productivity Commission’s review of the National Housing and Homelessness Agreement points out that high-income earners also have more capacity to relocate to cheaper markets when rents rise, which creates more competition for lower-income households competing for homes in those same areas.
ANZ CoreLogic notes that rents in lower-cost markets have risen the most in recent years, so much so that the portion of earnings that lower-income households have to dedicate to rent has reached a record high 54.3 percent. For middle-income households, it’s 32.2 percent and for high-income households, it’s just 22.9 percent. ‘Housing stress’ has long been defined as requiring more than 30 percent of income to put a roof over your head.
While some high-income households may aspire to own their own homes, rising property values have made that a difficult and long process given the years it takes to save a deposit. ANZ CoreLogic data shows it now takes a median 10.1 years in the capital cities and 9.9 years in regional areas to save a 20 percent deposit to buy a property.
It also takes 48.3 percent of income in the cities and 47.1 percent in the regions to cover mortgage repayments at today’s home loan interest rates, which is far greater than the portion of income required to service rents at a median 30.4 percent in cities and 33.3 percent in the regions.
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
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