Lilyfield’s Latest Lavish Residence Hits The Market
Elevated living in a tightly held Sydney locale.
Elevated living in a tightly held Sydney locale.
Located in one of Lilyfield’s most sought-after streets, 18 Chapel Street presents a bold new residence. Designed by Simon Vaughan Architects and interiors by MXM Design Studio – and built by award-winning boutique building team, Micrah Projects – the new development brings high-end luxury across a dual-level floor plan.
The 4-bedroom, 3-bathroom, with lock-up garage residence sees imported Spanish porcelain tiling underfoot (with underfloor heating on the ground floor), high ceilings, galleries of glass and architectural skylights creating an airy light-filled space.
Further, the interiors – styled by Coloured Pencil – see a lavish kitchen as the centrepiece of the home, fitted with Manhattan marble benchtop and island, Zip hot water unit and integrated refrigerator with an outlook to the garden.
Elsewhere, the home sees flexible, fluid living courtesy of the architectural curves of the living and dining space fitted with a showcase fireplace. A separate family room offers built-in cabinetry and a comfortable space to retreat.
The residence is replete with four luxury bedroom suites all fitted with built-in robes while a study offers a built-in desk with brass inlays and LED strip lighting.
The master bedroom boasts ‘his’ and ‘hers’ robes, built-in bedside tables and a timber panelled feature wall. Here, the master also holds an ensuite, arriving with Manhattan marble – coordinating with the kitchen – and underfloor heating.
The other bathrooms follow suit with the same marble adornments and underfloor heating.
Outside, an expansive covered rear alfresco terrace sees a custom Cedar built-in barbeque and preparation area ideal for entertaining. In addition to the above, a central courtyard with established garden and spotted gum hardwood timber decking is also offered with great connection to the indoor spaces. It also doubles as a garage.
The residence is nearby to the bay and parklands, weekend markets, bus and light rail to Sydney CBD.
The listing is with Cobden & Hayson’s Ben Southwell (+61 407 896 212) and is set for auction on 13 February 2021 on-site. Price guide $3.3m.
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Amid looming rate rises, there are reasons to be cheerful as mortgage holders head into 2023
Mortgage holders should brace themselves for more pain as the Reserve Bank of Australia board prepares to meet tomorrow for the first time this year.
Most economists and the major banks are predicting a rise of 25 basis points will be announced, although the Commonwealth Bank suggests that the RBA may take the unusual step of a 40 basis point rise to bring the interest rate up to a more conventional 3.5 percent. This would allow the RBA to step back from further rate rises for the next few months as it assesses the impact of tightening monetary policy on the economy.
The decision by the RBA board to make consecutive rate rises since April last year is an attempt to wrestle inflation down to a more manageable 3 or 4 percent. The Australian Bureau of Statistics reports that the inflation rate rose to 7.8 percent over the December quarter, the highest it has been since 1990, reflected in higher prices for food, fuel and construction.
Higher interest rates have coincided with falling home values, which Ray White chief economist Nerida Conisbee says are down 6.1 percent in capital cities since peaking in March 2022. The pain has been greatest in Sydney, where prices have dropped 10.8 percent since February last year. Melbourne and Canberra recorded similar, albeit smaller falls, while capitals like Adelaide, which saw property prices fall 1.8 percent, are less affected.
Although prices may continue to decline, Ms Conisbee (below) said there are signs the pace is slowing and that inflation has peaked.
“December inflation came in at 7.8 per cent with construction, travel and electricity costs being the biggest drivers. It is likely that we are now at peak,” Ms Conisbee said.
“Many of the drivers of high prices are starting to be resolved. Shipping costs are now down almost 90 per cent from their October 2021 peak (as measured by the Baltic Dry Index), while crude oil prices have almost halved from March 2022. China is back open and international migration has started up again.
“Even construction costs look like they are close to plateau. Importantly, US inflation has pulled back from its peak of 9.1 per cent in June to 6.5 per cent in December, with many of the drivers of inflation in this country similar to Australia.”
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