Prestige Property: 26 Hobbs Avenue, Dalkeith, WA
A stunning contemporary home in Perth’s dress circle.
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Driving through the iron gates and up the semi-circular driveway, one is immediately greeted by the sense of scale and enviable luxury provided by this contemporary residence.
The two-storey, 6-bedroom, 6-bathroom, 7-car parking pile features gallery-inspired interiors with porcelain flooring complemented by parquetry-herringbone walnut flooring and Venetian plasterwork throughout.
Moreover, a glamourous blend of granite surfaces and white gloss cabinetry draws one into the kitchen, hosting a full suite of European appliances and a scullery, it is equipped for the largest of soirees.
Soaring ceiling heights demarcates the grand spaces of the home, highlighting three separate living areas split across the two-level home including the library or formal lounge and a first-level winter retreat. Elsewhere, the home is privy to a contained theatre with a split-level design and top-of-the-line surround sound.
However, the residences entertaining ability is where it really shines, with the outdoor, north-facing alfresco dining area complete with an inground swimming pool and built-in barbecue/kitchen. Here, space is accessed seamlessly via completely retractable glass walls.
Away from the bustle of the main quarters, the home’s main bedroom suite is replete with a palatial ‘his’ and ‘hers’ dressing room and glamorously appointed marble-finished ensuite.
A further five bedrooms – including a guest suite and separate pool house – all feature private walk-in robes and ensuite bathrooms, which complete the accommodation.
The home is fitted with three gas fireplaces throughout and many mod-cons including a Savant system home automation, security system, parking for seven vehicles, including the four-car garage,
Within a 2-minute walk of Swan River and desirable proximity to Claremont Quarter and some of Perth’s finest private schools, this luxurious home is found in the enviable Dalkeith, 20 minutes to Perth’s CBD.
The listing is with Ray White Cottesloe Mosman Park’s Jody Fewster (+61 414 688 988), POA. rwcmp.com.au
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.
This may be contributing to continually rising weekly rents
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There has been a substantial increase in the number of Australians earning high incomes who are renting their homes instead of owning them, and this may be another element contributing to higher market demand and continually rising rents, according to new research.
The portion of households with an annual income of $140,000 per year (in 2021 dollars), went from 8 percent of the private rental market in 1996 to 24 percent in 2021, according to research by the Australian Housing and Urban Research Institute (AHURI). The AHURI study highlights that longer-term declines in the rate of home ownership in Australia are likely the cause of this trend.
The biggest challenge this creates is the flow-on effect on lower-income households because they may face stronger competition for a limited supply of rental stock, and they also have less capacity to cope with rising rents that look likely to keep going up due to the entrenched undersupply.
The 2024 ANZ CoreLogic Housing Affordability Report notes that weekly rents have been rising strongly since the pandemic and are currently re-accelerating. “Nationally, annual rent growth has lifted from a recent low of 8.1 percent year-on-year in October 2023, to 8.6 percent year-on-year in March 2024,” according to the report. “The re-acceleration was particularly evident in house rents, where annual growth bottomed out at 6.8 percent in the year to September, and rose to 8.4 percent in the year to March 2024.”
Rents are also rising in markets that have experienced recent declines. “In Hobart, rent values saw a downturn of -6 percent between March and October 2023. Since bottoming out in October, rents have now moved 5 percent higher to the end of March, and are just 1 percent off the record highs in March 2023. The Canberra rental market was the only other capital city to see a decline in rents in recent years, where rent values fell -3.8 percent between June 2022 and September 2023. Since then, Canberra rents have risen 3.5 percent, and are 1 percent from the record high.”
The Productivity Commission’s review of the National Housing and Homelessness Agreement points out that high-income earners also have more capacity to relocate to cheaper markets when rents rise, which creates more competition for lower-income households competing for homes in those same areas.
ANZ CoreLogic notes that rents in lower-cost markets have risen the most in recent years, so much so that the portion of earnings that lower-income households have to dedicate to rent has reached a record high 54.3 percent. For middle-income households, it’s 32.2 percent and for high-income households, it’s just 22.9 percent. ‘Housing stress’ has long been defined as requiring more than 30 percent of income to put a roof over your head.
While some high-income households may aspire to own their own homes, rising property values have made that a difficult and long process given the years it takes to save a deposit. ANZ CoreLogic data shows it now takes a median 10.1 years in the capital cities and 9.9 years in regional areas to save a 20 percent deposit to buy a property.
It also takes 48.3 percent of income in the cities and 47.1 percent in the regions to cover mortgage repayments at today’s home loan interest rates, which is far greater than the portion of income required to service rents at a median 30.4 percent in cities and 33.3 percent in the regions.
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
This stylish family home combines a classic palette and finishes with a flexible floorplan
