Prestige Property: 20 Linlithgow Road, Toorak, VIC
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Prestige Property: 20 Linlithgow Road, Toorak, VIC

Step inside one of Melbourne’s architectural masterpieces.

By Terry Christodoulou
Fri, Apr 23, 2021 10:50amGrey Clock 2 min

 Toorak, Melbourne’s blue-chip locale is filled with a heady array of historic homes and modern mansions, yet few compare to the 950sqm contemporary masterpiece listed here.

Sprawled across a 1270sqm block, replete with low maintenance garden, the Stephen Jolson designed residence boasts 4-bedrooms, 3-bathrooms, 6-car parking across three levels in one of Toorak’s most prestigious positions.

The striking sculptural façade of cantilevered solid concrete ‘blades’ and tall window walls are the most salient features of the home.

Inside, it conceals lavish interiors highlighted by Australian Bluestone walkways, American Oak floors, and a hydronic underfloor heating system.

Arriving via the circular drive and grand bronze porte cochere entry one emerges into voluminous gallery-like spaces that provide sophisticated living, dining, and entertaining.

A central light atrium extends throughout all three floors while northern light pours in through walls of glazing that unfold to the entertaining terrace.

Elsewhere, the Statuario marble kitchen with separate scullery and bar is fitted with Miele appliances, three Vintec wine fridges and a Sub-Zero fridge and freezer.

The casual open living and dining areas include a hidden home theatre, descender TV and gas fire.

The first floor finds a library with yet another kitchenette, study or fifth bedroom while a central bathroom accompanies four retreat-style bedrooms including the palatial master suite with twin deluxe walk-in robes. Also here, a study, stunning open ensuite replete with marble benchtops,  a freestanding stone bath and private terrace all enjoying panoramic valley views.

Downstairs sees a lounge with granite bar, concealed kitchenette, gym, steam room and bathroom complementing the jaw-dropping 20-metre indoor lap pool.

Throughout the home is fitting with smart technology including full CBUS home automation, enjoys access via private lift, boasts an oversized three-car garage (with parking for a further three vehicles) while enjoying Toorak’s conveniences moments from Toorak Village, High Street Armadale and Melbourne’s most esteemed private schools.

The listing is with RT Edgar’s Antoinette Nido (+61 419 654 856) with a price guide of $15.5m-$17m; rtedgar.com

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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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