Incredible Harbour Views In Sydney's Vaucluse

Harbour views rarely arrive in such an expansive, uninterrupted fashion. Here, a tri-level masterpiece located at 13 Queens Avenue, Vaucluse offers an inspiring harbour panorama stretching from Rose Bay to Taylor’s Bay.

The 5-bedroom, 4-bathroom, 3-car garage home is an ode to family, luxury, entertainment and privacy enjoying a secluded setting of approximately 885sqm in an exclusive cul-de-sac with direct access to Hermitage Reserve, the foreshore walk and Milk Beach.

The interiors are sleek and minimal with a number of effortless in-to-outdoor transitions accompanied by an array of skylings highlighting the watery surrounds.

On the second floor comes the living space with a striking formal lounge and dining fitted with a Jetmaster fireplace that leads out to the approximate 30-metre frontage with an incredible and expansive entertainment terrace. With all the space to entertain, central to the home’s intentions is a gourmet chef’s stainless-steel kitchen fitted with European appliances and scullery. Also on this floor comes a second, casual dining space, laundry and bathroom.

Upstairs from the main living space sees a private master’s suite take up the whole floor with a balcony, walk-in robe and ensuite while the remaining four bedrooms — all of which are fitted with walk-in robes — are found on the first floor.

Other luxurious touches include heated marble floors while spates of stone flooring are also heated throughout.

On the first floor is a family room, home theatre and dedicated massage room alongside direct access to the home’s in-ground pool which also overlooks Sydney Harbour. Coupled with the pool are a series of courtyards and the aforementioned terrace that runs the length of the home allowing for the would-be owner to maximise the expansive views.

Further, the home offers lift access to every level — including from the triple lock-up garage — C-Bus home automation, complete security and access to Hermitage Reserve, Queens Beach and Milk Beach.

The listing for 13 Queens Avenue, Vaucluse is with Bill Malouf of Highland Double Bay (+61 411 428 354) with a price guide of +$41 million. Highlandproperty.com.au

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.

Incredible Harbour Views In Sydney’s Vaucluse

A tri-level masterpiece is for sale.

New research suggests spending 40 percent of household income on loan repayments is the new normal