National Housing Affordability Declines
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National Housing Affordability Declines

However, New South Wales and South Australia saw improvements in affordability in the quarter.

By Kanebridge News
Wed, Jun 2, 2021 4:37pmGrey Clock < 1 min

Both housing and rental affordability has declined, the Real Estate Institute of Australia’s Housing Affordability Report has found.

Although housing affordability improved in New South Wales and South Australia and remained steady in Western Australia and the Australian Capital Territory, it declined in Victoria, Queensland, Tasmania and the Northern Territory.

REIA President Adrian Kelly stated that housing affordability across Australia has declined, with the proportion of income required to meet loan repayments increasing to 34.7%, a rise of 0.1 percentage points over the quarter.

However, when compared to the same quarter of 2020 – housing affordability improved by 0.5 percentage points.

Meanwhile, rental affordability declined with the proportion of income required to meet median rents increasing to 24.4%, an increase of 0.4% over the March quarter and an increase of 0.7% over the past 12 months.

Mr Kelly added that the number of first home buyers had decreased by 4.4% over the quarter, but a rise of 62.6% over the last 12 months. Now, first home buyers make up 40.% of owner-occupier dwelling commitments.

“Over the March quarter, the average loan size grew to $506,340, an increase of 1.0% over the quarter and a rise of 2.6% over the past 12 months. During the quarter, the average loan size increased in all states and territories except New South Wales and South Australia. Over the past 12 months, the average loan size rose in all states and territories, ranging from 2.3% in Victoria to 10.8% in Tasmania,” Mr Kelly said.



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This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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Property of the week: Penthouse, 601/12 Baptist St, Redfern

A Sydney site with a questionable past is reborn as a luxe residential environment ideal for indulging in dining out

By KIRSTEN CRAZE
Fri, Oct 18, 2024 2 min

Long-term Sydney residents always had handful of not-so-glamourous nicknames for the building on the corner of Cleveland and Baptist Streets straddling Redfern and Surry Hills, but after a modern rebirth that’s all changed.

Once known as “Murder Mall” or “Methadone Mall”, the 1960s-built Surry Hills Shopping Centre was a magnet for colourful characters and questionable behaviour. Today, however, a $500 million facelift of the site — alongside a slow and steady gentrification of the two neighbouring suburbs — the prime corner property has been transformed into a luxury apartment complex Surry Hills Village by developer Toga Group.

The crowning feature of the 122-apartment project is the three-bedroom penthouse, fully completed and just released to market with a $7.5 million price guide.

Measuring 211sqm of internal space, with a 136sqm terrace complete with landscaping, the penthouse is the brand new brainchild of Surry Hills local Adam Haddow, director of architecture at award-winning firm SJB.

Victoria Judge, senior associate and co-interior design lead at SJB says Surry Hills Village sets a new residential benchmark for the southern end of Surry Hills.

“The residential offering is well-appointed, confident, luxe and bohemian. Smart enough to know what makes good living, and cool enough to hold its own amongst design-centric Surry Hills.”

Allan Vidor, managing director of Toga Group, adds that the penthouse is the quintessential jewel in the crown of Surry Hills Village.

“Bringing together a distinct design that draws on the beauty and vibrancy of Sydney; grand spaces and the finest finishes across a significant footprint, located only a stone’s throw away from the exciting cultural hub of Crown St and Surry Hills.”

Created to maximise views of the city skyline and parkland, the top floor apartment has a practical layout including a wide private lobby leading to the main living room, a sleek kitchen featuring Pietra Verde marble and a concealed butler’s pantry Sub-Zero Wolf appliances, full-height Aspen elm joinery panels hiding storage throughout, flamed Saville stone flooring, a powder room, and two car spaces with a personal EV.

All three bedrooms have large wardrobes and ensuites with bathrooms fittings such as freestanding baths, artisan penny tiles, emerald marble surfaces and brushed-nickel accents.

Additional features of the entertainer’s home include leather-bound joinery doors opening to a full wet bar with Sub-Zero wine fridge and Sub-Zero Wolf barbecue.

The Surry Hills Village precinct will open in stages until autumn next year and once complete, Wunderlich Lane will be home to a collection of 25 restaurants and bars plus wellness and boutique retail. The EVE Hotel Sydney will open later in 2024, offering guests an immersive experience in the precinct’s art, culture, and culinary offerings.

 

The Surry Hills Village penthouse on Baptist is now finished and ready to move into with marketing through Toga Group and inquiries to 1800 554 556.

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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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