One Sydney Harbour ‘Skyhomes’ Unveiled | Kanebridge News
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One Sydney Harbour ‘Skyhomes’ Unveiled

Step inside Australia’s most expensive new project.

By Terry Christodoulou
Wed, Feb 24, 2021 1:01amGrey Clock 2 min

The shimmering One Sydney Harbour development has today unveiled its latest ‘Skyhome’ penthouses.

The luxurious three-tower Lendlease project – designed by Pritzker award-winning architect Renzo Piano and which informs the city’s rapidly expanding Barangaroo precinct – is already home to the country’s most expensive residence,  last year’s $140-million-plus sale of the premiere OSH penthouse not only smashing sales records but ultimately setting a new luxury agenda.

Now, two further penthouses – so-called Skyhomes – have hit the market, occupying the top two floors of the 68-storey Residences Two.

Spanning a full floor each and ranging from 540 to 670 square metres with 3-metre high ceilings throughout, each boasts private lift and rooftop terrace (80 – 100 sqm) with entertaining space, swimming pool and panoramic views across Sydney and its various architectural icons, as well as to the Blue Mountains in the west.

One Sydney Harbour Skyhomes

“All places have a story to tell, you just have to listen to that story and I think Sydney has a great story to tell,” offers Piano.“In this case, I think it’s very much about this, about making something that tells the essence of this city that is about sense of lightness, a sense of light, the sense of transparency.”

Skyhomes interiors will be crafted by leading designer Daniel Goldberg, founder and creative director of State of Craft, in consultation with the owners.
Goldberg previously collaborated with Piano on London’s The Shard and Shard Place in 2012.

“We wanted to create two unique, world-class homes in the sky that capture the essence of living high above Sydney Harbour,” says Goldberg. “The experience of being in the Skyhomes was inspired by life on board private yachts with their seamless transition from inside to outside spaces, and the feeling of freedom and elegant comfort.”
As originally published on Robb Report Australia & New Zealand.
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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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