Prestige Property: 17 Truro Place, City Beach, WA
A contemporary exercise in raw refinement.
A contemporary exercise in raw refinement.
Located at the highest point of south City Beach comes this inspiring, Hillam architects designed residence atop an expansive 948sqm plot.
The striking, three-storey, 6-bedroom, 7-bathroom, 9-car garage residence is a bold architectural statement utilising a restrained palate of materials including a mixture of raw and polished concrete, natural stone and local hardwoods.
A yellow string bark pathway leads to a ground floor entry foyer which leads to the ground floor living, cabana, bedrooms and gym wing while showcasing the staircase replete with Jarrah hardwood steps and reo bar stair rods.
Upstairs to the first floor, the orientation of the living spaces is designed to absorb the views of the Indian Ocean. The flow continues into the kitchen, family living, butler’s pantry, herb garden, theatre room and connected alfresco entertainment space – alongside private access to the master suite.
The kitchen is fitted with a unique blend of aged chestnut and satin black timbers, concrete and porcelain worktops alongside designed appliances from Sub Zero, Wolf, Siemen and Miele.
The family living space retains the restrained aesthetic with chestnut timber cabinetry, textured concrete and stone mosaics decorating the space. The full-height glazing opens to the ocean views, pool area and balcony entertainment space.
Elsewhere on the first level sees the master suite which is replete with dressing room and an enormous master ensuite complete with a 7-metre long lightwell, Falper sinks and custom cut, bookmatched tiles.
Pietra Oscura Natural matte porcelain tiles ooze luxury across the main levels, with areas of underfloor heating, touch curtains and motorised blinds adding the long-list of mod-cons available.
The ground floor sees a granite alfresco area with pool, spa, and cabana zone as well as a large office enjoys.
Accommodation is providing in the form of three bedrooms that flow to the rear with combinations of ensuite, bathrooms and walk-in-robes while an additional guest suite is available here.
The basement sees yet another guest suite with walk-in-robe, and ensuite alongside a music room, cellar area, and a 9-bay parking garage.
The residence enjoys close proximity to Perth’s beaches, open air cafes while still being 10km from Perth’s CBD.
The listing is with Edison McGrath’s Christopher Dee (+61 413 133 499); POA. edisonmcgrath.com.au
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
Data reveals house values have continued to decrease, but the rate has slowed as the RBA Board prepares to meet next week
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.
Rocket, the parent of Quicken Loans, has surged 28% this week.