Own This Coveted Southern Highlands Escape

The allure of the NSW Southern Highlands is more acutely felt in the winter months, and here, in the coveted outcrop of Bowral, comes a desirable masterpiece of design and style boasting expansive views of the region.

Found on almost six acres and comprised of two spectacular adjoining homes (and a free-standing one-bedroom studio), the 7-bedroom, 6-bathroom, 7-car parking property is surrounded by an established garden and pastoral grounds.

After undergoing award-winning renovations in 2017-18, the original home saw the addition of a contemporary extension with soaring ceilings, burnished concrete floors and the heady use of timber — through bespoke finishes — that sees the home’s focus now on passive solar design, energy efficiency and thermal performance.

Within the main home contains a large home office, media room, playroom, open-plan dining, sunken lounge and kitchen with an additional large butler’s kitchen.

Also found in the main home sees 4-bedrooms and 4-bathrooms with an enormous home office designed to house a golf simulator.

Throughout the home comes the aforementioned concrete floors with both heating and cooling capacity in the new wing.

Outside comes a wed-edge mineral salt plunge pool and spa with an integrated electric Remco pool cover and a floodlit tennis court overlooking Bowral.

Further, the residence’s grounds feature extensive automated garden lighting and watering systems and a productive orchard of large mature fig trees, quine and beurre bosc pear.

Elsewhere on the grounds, the freestanding 1-bedroom, 1-bathroom studio features a kitchenette with spectacular views and is privately situated away from the house. Currently, it is used as an Airbnb.

Just three-minutes’ drive to the Bowral township, the property offers an extraordinary slice of serenity.

The home is listed with Corina Nesci (+61 416 523 155) of Drew Lindsay Real Estate, EOI; drewlindsay.com.au

Requiring more than 30 percent of household income to service a home loan has long been considered the benchmark for ‘housing stress’. Yet research shows it is becoming the new normal. The 2024 ANZ CoreLogic Housing Affordability Report reveals home loans on only 17 percent of homes are ‘serviceable’ if serviceability is limited to 30 percent of the median national household income.

Based on 40 percent of household income, just 37 percent of properties would be serviceable on a mortgage covering 80 percent of the purchase price. ANZ CoreLogic suggest 40 may be the new 30 when it comes to home loan serviceability. “Looking ahead, there is little prospect for the mortgage serviceability indicator to move back into the 30 percent range any time soon,” says the report.

“This is because the cash rate is not expected to be cut until late 2024, and home values have continued to rise, even amid relatively high interest rate settings.” ANZ CoreLogic estimate that home loan rates would have to fall to about 4.7 percent to bring serviceability under 40 percent.

CoreLogic has broken down the actual household income required to service a home loan on a 6.27 percent interest rate for an 80 percent loan based on current median house and unit values in each capital city. As expected, affordability is worst in the most expensive property market, Sydney.

Sydney

Sydney’s median house price is $1,414,229 and the median unit price is $839,344.

Based on 40 percent serviceability, households need a total income of $211,456 to afford a home loan for a house and $125,499 for a unit. The city’s actual median household income is $120,554.

Melbourne

Melbourne’s median house price is $935,049 and the median apartment price is $612,906.

Based on 40 percent serviceability, households need a total income of $139,809 to afford a home loan for a house and $91,642 for a unit. The city’s actual median household income is $110,324.

Brisbane

Brisbane’s median house price is $909,988 and the median unit price is $587,793.

Based on 40 percent serviceability, households need a total income of $136,062 to afford a home loan for a house and $87,887 for a unit. The city’s actual median household income is $107,243.

Adelaide

Adelaide’s median house price is $785,971 and the median apartment price is $504,799.

Based on 40 percent serviceability, households need a total income of $117,519 to afford a home loan for a house and $75,478 for a unit. The city’s actual median household income is $89,806.

Perth

Perth’s median house price is $735,276 and the median unit price is $495,360.

Based on 40 percent serviceability, households need a total income of $109,939 to afford a home loan for a house and $74,066 for a unit. The city’s actual median household income is $108,057.

Hobart

Hobart’s median house price is $692,951 and the median apartment price is $522,258.

Based on 40 percent serviceability, households need a total income of $103,610 to afford a home loan for a house and $78,088 for a unit. The city’s actual median household income is $89,515.

Darwin

Darwin’s median house price is $573,498 and the median unit price is $367,716.

Based on 40 percent serviceability, households need a total income of $85,750 to afford a home loan for a house and $54,981 for a unit. The city’s actual median household income is $126,193.

Canberra

Canberra’s median house price is $964,136 and the median apartment price is $585,057.

Based on 40 percent serviceability, households need a total income of $144,158 to afford a home loan for a house and $87,478 for a unit. The city’s actual median household income is $137,760.

Own This Coveted Southern Highlands Escape

Just three-minutes’ drive to the Bowral township, the property offers an extraordinary slice of serenity.

New research suggests spending 40 percent of household income on loan repayments is the new normal