Prestige Property: 29 Eastbourne Road, Darling Point, NSW
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Prestige Property: 29 Eastbourne Road, Darling Point, NSW

Natural beauty in Sydney’s dress circle.

By Terry Christodoulou
Fri, Oct 15, 2021 4:11pmGrey Clock 2 min

Some homes capture the essence of their surroundings. This leafy home – covered in a crawling vine — does just that, with panoramic water views across the Double Bay to Point Piper and waterfront access,  it sees functional elegance and sophistication meet in a combination of free-flowing interior and outdoor spaces.

Anchored by its privileged position in a secluded cul-de-sac in Darling Point, the residence was designed by award-winning firm BKH with interiors customised by Nick Tobias and sees 6-bedrooms, 7-bathrooms, 4-car garage spanning four levels.

Down on the main floor, all living and dining areas – formal and informal – flow onto a wrap-around terrace with magnificent views via floor to ceiling sliding doors accompanied by tall ceiling heights.

It’s here one finds the heart of the home, the kitchen, and adjoining butler’s pantry and wine room. The main kitchen – one of three in the property — is fitted with Calacatta marble benchtops and Miele gas appliances with an integrated Liebherr fridge.

The living area opens to an inground heated pool with swim jets and an outdoor shower connected to an entertaining terrace.

Elsewhere a private office and study area – complete with panelled bookshelves adjoins the formal lounge with a gas fireplace.

The home’s spacious bedrooms exude comfort and style – each with built-ins, ensuites – while the master wing provides ‘his’ and ‘his’ walk-in robes and an exquisite ensuite with a standalone bathtub.

Throughout the home, the bathrooms are fitted with stone benchtops and custom cabinetry.

Down on the lower level sees an independent guest accommodation with an integrated kitchen and a rumpus/home cinema space with access to the courtyard.

Further, a fully self-contained apartment is on title with independent access overlooking the water and makes for an ideal teenage retreat, guest accommodation or caretaker’s residence containing its own kitchen.

Accessing all four levels is made easy by the internal lift and smart home technology with remote access while private stairs to the water’s edge of Darling Point offers the pinnacle of luxury.

The listing is shared between Bill Malouf (+61 411 428 354) of LJ Hooker Double Bay and Steven Chen (+61 412 959 959) of The Agency. Price guide; $30 million. doublebay.ljhooker.com / theagency.com.au

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Mortgage holders should brace themselves for more pain as the Reserve Bank of Australia board prepares to meet this afternoon for the first time this year.

Most economists and the major banks are predicting a rise of 25 basis points will be announced, although the Commonwealth Bank suggested yesterday that the RBA may take the unusual step of a 40 basis point rise to bring the interest rate up to a more conventional 3.5 percent. This could present the RBA with the chance to put further rate rises on hold for the next few months as it assesses the impact of tightening monetary policy on the economy.

The decision by the RBA board to make consecutive rate rises since April last year is an attempt to wrestle inflation down to a more manageable 3 or 4 percent. The Australian Bureau of Statistics reports that the inflation rate rose to 7.8 percent over the 2022 December quarter, the highest it has been since 1990, reflected in higher prices for food, fuel and construction.

Higher interest rates have coincided with falling home values, which Ray White chief economist Nerida Conisbee says are down 6.1 percent in capital cities since peaking in March 2022. The pain has been greatest in Sydney, where prices have dropped 10.8 percent since February last year. Melbourne and Canberra recorded similar, albeit smaller falls, while capitals like Adelaide, which saw property prices fall 1.8 percent, are less affected.

Although prices may continue to decline, Ms Conisbee (below) said there are signs the pace is slowing and that inflation has peaked.

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“Many of the drivers of high prices are starting to be resolved. Shipping costs are now down almost 90 per cent from their October 2021 peak (as measured by the Baltic Dry Index), while crude oil prices have almost halved from March 2022. China is back open and international migration has started up again. 

“Even construction costs look like they are close to plateau. Importantly, US inflation has pulled back from its peak of 9.1 per cent in June to 6.5 per cent in December, with many of the drivers of inflation in this country similar to Australia.”

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