Three Melbourne Penthouses For Sale
A look inside the pinnacle of Melbourne’s luxury apartment market.
3 min
True to form, Melbourne’s luxury penthouse market is awash with effortlessly appointed elegant abodes.
Here, we’ve collated three of the best on the market right now.
Level 59, Aspire Residences, 299 King Street, Melbourne
Arriving in timeless style is this full-floor 5-bedroom, 5-bathroom, 4 car garage residence. Located above Aspire Melbourne, the upper-most 14 levels are dedicated to some of the most luxurious apartment living on offer, with level 59 – listed here – offering the full floor.
Uninterrupted views of Flagstaff Gardens, Melbourne CBD, Port Phillip Bay and beyond are at hand, while the residence’s central location puts it at the fingertips of the best Melbourne has to offer.
Inside, cutting-edge contemporary style permeates the 639sqm apartment, which has been designed by acclaimed interior architect David Hicks. Here, the lift opens to the apartment’s private lobby and formal lounge, dining room, cocktail lounge, complete with a fireplace.
The open plan kitchen arrives with the butler’s pantry and includes top of the range Gaggenau appliances and fully integrated Sub-zero refrigeration.
Elsewhere the master bedroom offers views across Melbourne CBD and Port Phillip Bay and features expansive customisable robes as well as a master ensuite with custom curved bath and double vanity.
The luxurious penthouse is set for completion early 2023 with an asking price of $9,983,000; aspireresidences.com.au
The Penthouse, 7 Bowen Crescent, Melbourne
Located in a prestigious Gurner development that encompasses the city skyline arrives yet another David Hicks penthouse.
The spectacular in scale entrance foyer features dark stained parquetry floors that leads one through to the open plan living, dining and entertaining space surround by 270-degree full height glass affording sensational views.
From here, the living area extended to a mammoth private sun-terrace, perfect for entertaining.
The premium kitchen is a chef’s delight arriving in Carrara marble with Gaggenau and Liebherr appliances throughout.
A lavish main bedroom lands with a dressing room, marble ensuite alongside two additional bedrooms with coordinating ensuites and built-in robes.
Up the curved staircase, or via the private lift, one arrives at the 4th bedroom or retreat with a built-in robe.
Situated within walking distance to the Botanic Gardens, the Domain a, Albert Park and more, the home features a 4-basement car space and access to Albert Place’s hotel-style amenities.
The listing is with Marshall White’s Nicholas Hoo with a price guide of $7-$7.7 million; marshallwhite.com.au
Residence 6.01/409 St Kilda Road, Melbourne
Positioned on the corner of Toorak Road West and St Kilda road this podium floor residence arrives with sweeping north facing views of the CBD, Botanic Gardens and Fawkner Park.
The oversized, 3-bedroom, 5-bathroom, 5-car parking podium Penthouse offers 530sqm of internal living plus a further 200sqm external. Arriving with soaring ceilings, the main living space is decorated with European oak timber flooring in a herringbone pattern and floor to ceiling windows to take in those expansive views.
Also here is the large, luxuriously appointed kitchen featuring stunning oak cabinetry, top-grade marble, Gaggenau and Sub Zero appliances and a Christopher Boots pendant light as a feature.
The bedroom wing is informed by a large master with marble ensuite and bathtub, walk-in robes, while two more large bedrooms with ensuites while a guest room rounds out the offering.
Residents of The Muse will have the ability to access hotel-style services and facilities including 24/7 concierge services, 5-star wellness centre including spa, retreat, gym, swimming pool and also a luxurious club lounge with private meeting room facilities.
The listing is managed by Daniel Cashen, with an asking price of $16,500,000; themusemelbourne.com.au
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Ray White’s chief economist outlines her predictions for housing market trends in 2024
2 min
Ray White’s chief economist, Nerida Conisbee says property price growth will continue next year and mortgage holders will need to “survive until 2025” amid expectations of higher interest rates for longer.
Ms Conisbee said strong population growth and a housing supply shortage combatted the impact of rising interest rates in 2023, leading to unusually strong price growth during a rate hiking cycle. The latest CoreLogic data shows home values have increased by more than 10 percent in the year to date in Sydney, Brisbane and Perth. Among the regional markets, price growth has been strongest in regional South Australia with 8.6 percent growth and regional Queensland at 6.9 percent growth.
“As interest rates head close to peak, it is expected that price growth will continue. At this point, housing supply remains extremely low and many people that would be new home buyers are being pushed into the established market,” Ms Conisbee said. “Big jumps in rents are pushing more first home buyers into the market and population growth is continuing to be strong.”
Ms Conisbee said interest rates will be higher for longer due to sticky inflation. “… we are unlikely to see a rate cut until late 2024 or early 2025. This means mortgage holders need to survive until 2025, paying far more on their home loans than they did two years ago.”
Buyers in coastal areas currently have a window of opportunity to take advantage of softer prices, Ms Conisbee said. “Look out for beach house bargains over summer but you need to move quick. In many beachside holiday destinations, we saw a sharp rise in properties for sale and a corresponding fall in prices. This was driven by many pandemic driven holiday home purchases coming back on to the market.”
3 key housing market trends for 2024
Here are three of Ms Conisbee’s predictions for the key housing market trends of 2024.
Luxury apartment market to soar
Ms Conisbee said the types of apartments being built have changed dramatically amid more people choosing to live in apartments longer-term and Australia’s ageing population downsizing. “Demand is increasing for much larger, higher quality, more expensive developments. This has resulted in the most expensive apartments in Australia seeing price increases more than double those of an average priced apartment. This year, fewer apartments being built, growing population and a desire to live in some of Australia’s most sought-after inner urban areas will lead to a boom in luxury apartment demand.”
Homes to become even greener
The rising costs of energy and the health impacts of heat are two new factors driving interest in green homes, Ms Conisbee said. “Having a greener home utilising solar and batteries makes it cheaper to run air conditioning, heaters and pool pumps. We are heading into a particularly hot summer and having homes that are difficult to cool down makes them far more dangerous for the elderly and very young.”
More people living alone
For some time now, long-term social changes such as delayed marriage and an ageing population have led to more people living alone. However, Ms Conisbee points out that the pandemic also showed that many people prefer to live alone for lifestyle reasons. “Shorter term, the pandemic has shown that given the chance, many people prefer to live alone with a record increase in single-person households during the time. This trend may influence housing preferences, with a potential rise in demand for smaller dwellings and properties catering to individuals rather than traditional family units.”
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
