One Of Hawthorn's Finest Hits The Market | Kanebridge News
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One Of Hawthorn’s Finest Hits The Market

Inspired family living in a coveted Melbourne location.

By Terry Christodoulou
Sat, Dec 5, 2020 3:27amGrey Clock 2 min

In Hawthorn’s most desirable street, less than 15 minutes from Melbourne’s CBD and nearby to the Yarra River, leading schools and local dining precincts, this three-storey home is set on approx. 886sqm, offering 5-bedrooms, 5-bathrooms and space for seven cars.

Designed by Charles Salter, of Salter Architects, with interiors by Jessie Cook of Cook Gordon Architects, the home finds Harper & Sandilands oak flooring underfoot while bespoke panelling and brickwork arches come to define the home’s aesthetic.

The kitchen boasts Miele appliances and a Liebherr built-in double door fridge, marble benchtops, and a butler’s pantry while the connected living, meals and alfresco dining area is elevated with the aforementioned timber panelling and a fireplace.

A formal dining, study, laundry and powder room are also found here.

Also on the ground level is the master suite, which sees private access to the verandah, another fireplace, large walk-in-robe and ensuite decorated in marble with twin vanities, dark timber cabinetry and a standalone bath.

The combination of marble and dark timber cabinetry extends to the powder room, while marble is replaced with a granite vanity in the upstairs, pool house and lower ground family bathrooms.

Upstairs sees the other four bedrooms, one of which is privy to an ensuite, private balcony and walk-in-robe.

On the lower ground floor arrives an expansive family room which houses a cellar servicing 144 bottles. Elsewhere, the showroom style garage houses five vehicles and boasts its own rear-lane access. A further two car spots are also available on the property

The outdoor area truly impresses with an incredible in-ground heated pool alongside a pool house which acts as a covered resort-style pavilion complete with its own bathroom. It is further complemented by the alfresco dining area – ideal for entertaining – arriving with an in-built BBQ, tap, sink and mini-bar fridge, detailed with stone benchtops.

The home is fitted with multiple CCTV security cameras, with back to base monitoring, accessible via mobile while a 14 zone Sonos sound system is found throughout.

1 Shakespeare Grove, Hawthorn, Melbourne is listed with Jock Langley (+61 419 530 008) and Emma Pierson (+61 409 182 310) of Abercromby’s Real Estate and is set for auction Friday 11 December. Price guide; $8.8 million.

Abercrombys.com.au

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House values continued to fall last month, but the pace of decline has slowed, CoreLogic reports.

In signs that the RBA’s aggressive approach to monetary policy is making an impact, CoreLogic’s Home Value Index reveals national dwelling values fell -1.0 percent in November, marking the smallest monthly decline since June.

The drop represents a -7.0 percent decline – or about $53,400 –  since the peak value recorded in April 2022. Research director at CoreLogic, Tim Lawless, said the Sydney and Melbourne markets are leading the way, with the capital cities experiencing the most significant falls. But it’s not all bad news for homeowners.

“Three months ago, Sydney housing values were falling at the monthly rate of -2.3 percent,” he said. “That has now reduced by a full percentage point to a decline of -1.3 percent in November.  In July, Melbourne home values were down -1.5 percent over the month, with the monthly decline almost halving last month to -0.8%.”

The rate of decline has also slowed in the smaller capitals, he said.  

“Potentially we are seeing the initial uncertainty around buying in a higher interest rate environment wearing off, while persistently low advertised stock levels have likely contributed to this trend towards smaller value falls,” Mr Lawless said. “However, it’s fair to say housing risk remains skewed to the downside while interest rates are still rising and household balance sheets become more thinly stretched.” 

The RBA has raised the cash rate from 0.10 in April  to 2.85 in November. The board is due to meet again next week, with most experts still predicting a further increase in the cash rate of 25 basis points despite the fall in house values.

Mr Lawless said if interest rates continue to increase, there is potential for declines to ‘reaccelerate’.

“Next year will be a particular test of serviceability and housing market stability, as the record-low fixed rate terms secured in 2021 start to expire,” Mr Lawless said.

Statistics released by the Australian Bureau of Statistics this week also reveal a slowdown in the rate of inflation last month, as higher mortgage repayments and cost of living pressures bite into household budgets.

However, ABS data reveals ongoing labour shortages and high levels of construction continues to fuel higher prices for new housing, although the rate of price growth eased in September and October. 

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