INTEREST RATES, A PANDEMIC RESET AND EXTREME WEATHER EVENTS – THE AUSTRALIAN PROPERTY MARKETS THAT FLEW HIGH OR FLATLINED
There’s some surprise winners and losers among CoreLogic’s 2022 Best of the Best list
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It’s been the best of times and the worst of times, to paraphrase Dickens, for players in the Australian property market this year.
While areas such as the Adelaide suburbs showed strong growth, with Davoren Park house values rising by 34.7 percent and unit values in Seacliff Park gaining 41.4 percent, CoreLogic data reveals houses in the Sydney suburbs of Narrabeen, Surry Hills and Redfern dropped by more than -25 percent. Unit values in Centennial Park and Mona Vale fell by -23.1 percent and -20.8 percent respectively.
CoreLogic economist Kaytlin Ezzy said the Adelaide market had proven to be remarkably resilient.
“Adelaide’s resilience has been a consistent feature of the housing market in 2022,” she said. “While down -0.9 percent from the July peak, dwelling values across the city are still 13.4 percent above the level recorded this time last year.
“Adelaide’s relative affordability and persistently low advertised stock levels have helped insulate it from the worst impacts of rising interest rates.”
In the regions, Bingara in the New England district of NSW experienced 36.2 percent growth in house values, followed by the South Australian towns of Cleve (35.3 percent), Solomontown (34.9 percent) and Streaky Bay (34.7 percent). The NSW town of Gobbagombalin in the Riverina saw house value gains of 33.5 percent.
It has been more of a rollercoaster ride in the popular lifestyle locations of the Illawarra, Southern Highlands and Shoalhaven in NSW and the Sunshine and Gold Coasts in Queensland, which experienced the greatest ‘peak to trough’ values.
Four of the five most expensive Australian suburbs for houses are from Sydney, according to CoreLogic’s 2022 Best of the Best list, with Vaucluse topping the list with a median value of $7,943,965, followed by Bellevue Hill ($6,882,484), Rose Bay ($5,660,910) and Dover Heights ($5,087,211). The Melbourne suburb of Toorak rounded out the top five, coming in at $4,955,630.
The five most expensive unit values were from Sydney’s inner ring, with Point Piper leading the way at $2,895,563. It was followed by Darling Point, Millers Point, Milsons Point and Kirribilli.
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.
The four-bedroom home “blends historic architecture, soaring open-plan living spaces and every possible contemporary comfort”
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A unique home on the outskirts of London within a former chapel that had a starring role in the hit TV series “Call the Midwife” is on the rental market for £39,000 (US$48,568) per month.
The four-bedroom home was carved out of St Joseph’s Missionary College, which, founded in 1871, trained young Catholic priests to work as missionaries abroad, according to listing agency Dexters.
Before its conversion to a lavish private residence, the college’s chapel had a starring role as nursing convent Nonnatus House in the first two seasons of the feel-good BBC show, which focuses on a church-funded midwifery in the 1950s and 1960s, based on the bestselling memoirs of Jennifer Worth, a former London nurse.
When the historic college was sold for redevelopment in 2013, and production of “Call The Midwife” transferred to a studio set, the chapel—along with the rest of the building—was born again.
Dexters
Still going by the apt moniker of the Chapel, the home is the centrepiece of the site, which is now a gated development known as St Joseph’s Gate, said Dexters, which brought the home to the market in late February.
The home spans almost 10,000 square feet and “blends historic architecture, soaring open plan living spaces and every possible contemporary comfort,” said Andy Christophi, director of Dexters Finchley.
The chapel’s nave is now the dramatic heart of the home, complete with a 45-foot high vaulted timber ceiling.
The vast open-plan area—which also has columns and gothic-style arches—has a handcrafted kitchen, temperature-controlled wine storage, a curved living area with Victorian windows and enough space to easily host 30 at a dinner table, the listing said.
Above, a mezzanine bedroom has been constructed to appear as though floating above the main living area below.
The home also has a gym, a spa area with a sauna and steam room, and a media room.
“Perfect for a family that loves to entertain, its use as a filming location…makes it particularly iconic, and means you’ll never run out of dinner party conversation,” Christophi said.
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
This stylish family home combines a classic palette and finishes with a flexible floorplan
