Meticulous Luxury In A Prized Noosa Location
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Meticulous Luxury In A Prized Noosa Location

This expansive Hamptons inspired home is heading to auction.

By Terry Christodoulou
Fri, Apr 15, 2022 6:00amGrey Clock 2 min

This expansive Gmelli Design home transports the elegant seaside luxury of the Hamptons to Noosa’s tropical waters.

The 5-bedroom, 4-bathroom, 3-car garage home sits atop a prized, dress circle position encompassing 920sqm that is intensely private and boasts 18.5-metres of waterfront.

Inside this summer escape comes bespoke doors that curate seamless indoor-to\-outdoor living, European oak flooring underfoot alongside the iconic blue and white Hamptons aesthetic.

Overhead, expect custom chandeliers, including one from Ralph Lauren, Tahitian fans, custom joinery, wall sconces and three fireplaces, scattered throughout the property.

The home is built to entertain and central to entertaining is the custom kitchen by joinery expert Wyer + Craw. Here, the kitchen features two island benches topped with Carrara marble, porcelain topped cabinetry, high-end appliances and a serious butler’s pantry with Vintec wine storage.

Space to enjoy time with loved ones is aplenty, with the large undercover terraces featuring marble tiling and playing host to a built-in BBQ, kitchen with bar fridge and access to the deepwater frontage with an elongated jetty ideal for sunset drinks.

From here, it’s easy to enjoy the pool house, with its pearl glass mosaic tiles, potted olive trees, bar and custom cabinetry, hidden television and sound system and, of course, the pool itself.

Of the accommodation, the stunning west wing has two master-style suites. Bathrooms are tiled with imported gold inlay Carrara marble tiles. One with access to the northerly terraces has an outdoor stone bath and rain shower also a retreat.

The grand master suite features expansive views and boasts a walk-in-robe over six metres long with a separate make-up room, dresser, marble bathroom, free-standing tub and a shoe room.

Adding to the upstairs amenities comes a library with a custom upholstered daybed embraces the window overlooking the water, a kids’ domain with a media room, a bunk room and a marble bathroom.

The listing is headed to auction with Tom Offermann Real Estate (+61 0412711888) and is expected to sell for circa $10 million. Offermann.com.au



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The crafty workarounds would-be buyers use to get into the market

First time buyers determined to enter the Australian property market are taking creative approaches as interest rates steady

By Bronwyn Allen
Thu, Mar 28, 2024 2 min

Aspiring first home buyers are increasingly pooling their resources, adopting new strategies and making compromises to get themselves onto the property ladder, according to research from Westpac. About 56 percent of buyers surveyed are planning to buy their first property jointly with their partner compared to 40 percent three years ago. Three in four buyers say they are willing to compromise on location, up nine percent from three years ago, and 47 percent are willing to pay lenders mortgage insurance to buy their first home sooner.

Additionally, one in two first home hopefuls are considering ‘rentvesting’, whereby they purchase an investment property first ahead of a home for themselves. In this scenario, buyers typically continue renting in expensive lifestyle locations where they want to live and buy an investment property in more affordable locations, often on the outskirts of major cities or in regional areas.

The 2024 Westpac Home Ownership Report, released this month, is based on a survey of 2,015 Australians conducted in January. The report revealed increasing intentions to buy among all types of buyers, with 44 percent intending to buy in the next five years, up from 35 percent in July 2023. This may reflect expectations that interest rates have peaked, with the Reserve Bank keeping rates on hold since December.

Among first home buyers specifically, there was a slight decline in purchasing intention over the next five years, with 86 percent delaying buying a home due to cost-of-living pressures. The survey also found that more people are planning to buy an investment property, which is reflected in recent finance data from the Australian Bureau of Statistics showing a 20 percent increase in the value of investor loans issued over the past year. Additionally, more people are planning to upsize their homes or renovate their existing homes.

Westpac managing director of mortgages Damien MacRae said first home buyers “are becoming more ruthless with their goals”. “They understand it’s a big task, but they are determined to break into the market and are willing to compromise to get there,” Mr MacRae said.

Buyers still prefer houses, but there has been a five percent decline in this preference since 2021 and a seven percent increase for apartments. Preference for a townhouse, or house and land packages, has increased markedly. “Buyers are casting their expectations wider, willing to compromise on location and are forgoing everyday luxuries like food delivery. They are also more inclined to relocate and move to apartment living.”

The latest Westpac-Melbourne Institute Consumer Sentiment Index released this week shows the ‘time to buy a dwelling’ index rose 4.9 percent to 77.8 out of 100 this month, which is a 15-month high, but still relatively weak overall. Buyer sentiment is notably stronger in Victoria at 84.3, with Westpac senior economist Matthew Hassan pointing to softening home values over the past four months.

In contrast, the NSW index is at 73.3 out of 100, likely reflecting affordability challenges in Australia’s most expensive market. “Nearly 70 percent of consumers expect housing prices to continue rising in the year ahead,” Mr Hassan added.

 

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