Lilyfield’s Latest Lavish Residence Hits The Market
Elevated living in a tightly held Sydney locale.
2 min
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.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Philip Lowe’s comments come amid property industry concerns about pressures on mortgage holders and rising rents
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Leaders in Australia’s property industry are calling on the RBA to hit the pause button on further interest rate rises following yesterday’s announcement to raise the cash rate to 4.1 percent.
CEO of the REINSW, Tim McKibbin, said it was time to let the 12 interest rate rises since May last year take effect.
“The REINSW would like to see the RBA hit pause and allow the 12 rate rises to date work their way through the economy. Property prices have rebounded because of supply and demand. I think that will continue with the rate rise,” said Mr McKibbin.
The Real Estate Institute of Australia today released its Housing Affordability Report for the March 2023 quarter which showed that in NSW, the proportion of family income required to meet the average loan repayments has risen to 55 percent, up from 44.5 percent a year ago.
Chief economist at Ray White, Nerida Conisbee, said while this latest increase would probably not push Australia into a recession, it had major implications for the housing market and the needs of ordinary Australians.
“As more countries head into recession, at this point, it does look like the RBA’s “narrow path” will get us through while taming inflation,” she said.
“In the meantime however, it is creating a headache for renters, buyers and new housing supply that is going to take many years to resolve.
“And every interest rate rise is extending that pain.”
In a speech to guests at Morgan Stanley’s Australia Summit released today, Governor Philip Lowe addressed the RBA board’s ‘narrow path’ approach, navigating continued economic growth while pushing inflation from its current level of 6.8 percent down to a more acceptable level of 2 to 3 percent.
“It is still possible to navigate this path and our ambition is to do so,” Mr Lowe said. “But it is a narrow path and likely to be a bumpy one, with risks on both sides.”
However, he said the alternative is persistent high inflation, which would do the national economy more damage in the longer term.
“If inflation stays high for too long, it will become ingrained in people’s expectations and high inflation will then be self-perpetuating,” he said. “As the historical experiences shows, the inevitable result of this would be even higher interest rates and, at some point, a larger increase in unemployment to get rid of the ingrained inflation.
“The Board’s priority is to do what it can to avoid this.”
While acknowledging that another rate rise would adversely affect many households, Mr Lowe said it was unavoidable if inflation was to be tamed.
“It is certainly true that if the Board had not lifted interest rates as it has done, some households would have avoided, for a short period, the financial pressures that come with higher mortgage rates,” he said.
“But this short-term gain would have been at a much higher medium-term cost. If we had not tightened monetary policy, the cost of living would be higher for longer. This would hurt all Australians and the functioning of our economy and would ultimately require even higher interest rates to bring inflation back down.
“So, as difficult as it is, the rise in interest rates is necessary to bring inflation back to target in a reasonable timeframe.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
