Prestige Property: 17 Truro Place, City Beach, WA
A contemporary exercise in raw refinement.
2 min
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
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
Capital cities lead the way as median home values see clear upswing
2 min
Home values continue their upwards trajectory, recording the strongest monthly growth in 18 months, CoreLogic data shows.
The property data provider reports that their Home Value Index has noted a third consecutive rise in values in May, accelerating 1.2 percent over the past month. This is on the back of a 0.6 percent increase in March and 0.5 percent rise in April.
Sydney recorded the strongest results, up 1.8 percent, the highest recorded in the city since September 2021. The fall in Sydney’s home values bottomed in January but have since accelerated sharply by 4.8 percent, adding $48,390 to the median dwelling value.
Melbourne recorded more modest gains, with home values increasing by 0.9 percent, bringing the total rise this quarter to 1.6 percent. It was the smaller capitals of Brisbane (up 1.4 percent) and Perth (up 1.3 percent) that reported stronger gains.
CoreLogic research director Tim Lawless said the lack of housing stock was an obvious influence on the growing values.
“Advertised listings trended lower through May with roughly 1,800 fewer capital city homes advertised for sale relative to the end of April. Inventory levels are -15.3 percent lower than they were at the same time last year and -24.4 percent below the previous five-year average for this time of year,” he said.
“With such a short supply of available housing stock, buyers are becoming more competitive and there’s an element of FOMO creeping into the market.
“Amid increased competition, auction clearance rates have trended higher, holding at 70 percent or above over the past three weeks. For private treaty sales, homes are selling faster and with less vendor discounting.”
Vendor discounting has been a feature in some parts of the country, particularly prestige regional areas that saw rapid price rises during the pandemic – and subsequent falls as people returned to the workplace in major centres.
The CoreLogic Home Value Index reports while prices appear to have found the floor in regional areas, the pace of recovery has been slower.
“Although regional home values are trending higher, the rate of gain hasn’t kept pace with the capitals. Over the past three months, growth in the combined capitals index was more than triple the pace of growth seen across the combined regionals at 2.8% and 0.8% respectively,” Mr Lawless said.
“Although advertised housing supply remains tight across regional Australia, demand from net overseas migration is less substantial. ABS data points to around 15% of Australia’s net overseas migration being centred in the regions each year. Additionally, a slowdown in internal migration rates across the regions has helped to ease the demand side pressures on housing.”
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
