Oceans of light and world class views await in this seaside apartment
A thoughtful floorplan captures more than the sea breeze to take this apartment to the next level
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There’s a reason why Sydney is a world class city. Along with its bustling CBD and thriving satellite cities, it’s a place of unparalleled natural beauty, offering stunning views and exceptional recreational opportunities.
This two-bedroom apartment at 5/150 Ocean Street Narrabeen is in a boutique block just two minutes’ walk from popular Narrabeen Beach on Sydney’s Northern Beaches.
Built circa 2006, the light-filled apartment has been designed to capture the sea breezes and comes with everything required for easy modern living, including built-in robes in the bedrooms, Smeg appliances in the kitchen and beautiful, easy care Caesarstone benchtops.
Located on the upper floor of the two-storey block named Seascape, the apartment has a spacious balcony directly off the living area facing towards the ocean, as well as another balcony at the rear, looking towards Narrabeen Lagoon.
There’s also a large private rooftop ideal for entertaining larger groups of friends or just enjoying the views.
In addition to the living spaces, the property also has a secure undercover car space and storage cage in the basement.
While this would make an ideal home for professionals, it could also be a significant investment opportunity for the right buyer.
Address: 5/150 Ocean Street Narrabeen
Price guide: $1.6m to $1.75m
Next open for inspection: Wednesday, April 26 4.30pm-5.15pm
Agent: Anthony Malek 0467 064 270 Blueprint Property
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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
