Prestige Property: 18 Macgregor Avenue, Portsea VIC
This coveted coastal home boasts the ultimate pool house.
2 min
Located in one of Portsea’s most coveted streets, this elegant coastal home — designed by legendary Australian architect, Guildford Bell — is privately set back from the street with farm gates and a white pebble drive giving nothing away.
Beyond the Moonah trees, atop the cliff, appears the 5-bedroom, 5-bathroom, 2-car garage home, built upon approximately 2965sqm of land only minutes’ walk to Shelley Beach.
The inspiring entrance — with an internal courtyard — provides a sense of arrival for what is a meticulously presented single level home, with a classic coastal getaway feel.
The property features the main house, complete with 4-bedrooms and 4-bathrooms, and boasts light-timber floors and panelling on the walls, with a vaulted ceiling in the living room further adding to the home’s coastal allure.
Here, the home’s airy design — courtesy of the light palette of white and blonde — hosts a luxurious entertaining space dominated by the kitchen, which features a combination of blonde timbers and stone veneers. Also here, the living space sees a fireplace for chillier nights while sliding glass doors allow for seamless access to the outdoor entertaining area.
Elsewhere, the home’s accommodation is broken up into wings, with one flank of the house holding three bedrooms, two of which hold their own ensuites. The opposite side of the house sees the master suite complete built-in robes, expansive coastal themed ensuite and private study.
Outside is a scene from a Mediterranean village, with the alfresco entertaining area adorned by bougainvillea and a stretch of rolling green turf.
Beyond the immediate outdoor area, the property is privy to its very own, resort-style pool house. Completely equipped and self-contained, the pavilion sees its own sunken lounge —ideal for relaxing with a Mai Tai — alongside the pool itself. The accommodation features its own open living space with fireplace, galley style kitchenette and bedroom with ensuite.
Further features offered by the property include the double lock up garage, with off-street parking for four additional cars, CCTV, fully irrigated garden with bore water, garden lighting, wired in audio system and more.
The listing is with Patrick Skin (+61 418 378 759) and Rob Curtain (+61 418 310 870) of Peninsula Sotheby’s International Realty. Price guide; $8.75 million – $9.5 million. Melbournesothebysrealty.com
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
New research suggests spending 40 percent of household income on loan repayments is the new normal
3 min
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.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
