Prestige Property: 3804/439 Collins Street, Melbourne VIC
Lofty living in the heart of Melbourne’s CBD.
2 min
Spread over two dramatic levels inside Melbourne’s landmark residence, the Collins Arch, comes the luxurious ‘Penthouse 3804’.
Located in the centre of Melbourne’s CBD, the penthouse arrives with 371.5sqm of internal living and a further 113.5sqm located on the external terrace. Throughout the 3-bedroom, 3-bathroom, 4-car garage residence, full-height windows take in the views of Melbourne’s skyline, with the accommodation arranged to maximise the availability of natural light.
With the interiors designed by Woods Bagot, the penthouse sees the use of ambient natural stone, oak flooring underfoot, brushed nickel finishes and custom joinery throughout.
Entering through the lower-level formal entry, complete with private lift, the penthouse extends to a formal living area with the aforementioned north-facing views of Melbourne’s skyline alongside heady swathe of built-in cabinetry and a marble fireplace.
Taking the spiral staircase, which is carved from marbled stone (no-less), sees one arrive at the primary upper-level living.
The residences upper level is split into two distinct pods. Here, the bedrooms encompass the entire eastern wing of level 39. The master suite offers commanding views and direct terrace access alongside further bespoke cabinetry and decadent ensuite. There is a further two bedrooms found here.
Elsewhere, the intelligently zoned living areas features a beautifully appointed kitchen complete with a Cote d’Azure marble used for the splashback and island bench alongside a butler’s pantry.
Marble also adorns the bathrooms throughout the residence while feature lighting is understood to be sourced from local brands, with bathroom feature lights from Articolo and kitchen pendant by Rakumba.
There are perks to being on the top, with the Arch privy to a three-level atrium style rooftop skygarden atop the building – which the penthouse has direct access to.
Further mod-cons within the $1.2 billion build include a 25-metre swimming pool, gym, yoga room, wine cellar, entertaining lounge and terrace (not that you’ll need that), and two private dining or conference rooms.
Located in the heart of the CBD, there is unsurpassable connectivity to the city and its surrounds.
The listing is with Colliers Sam Nathan (+61 4 075 552 922), price guide $7.85m; collinsarch3804.com.au
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Ray White’s chief economist outlines her predictions for housing market trends in 2024
2 min
Ray White’s chief economist, Nerida Conisbee says property price growth will continue next year and mortgage holders will need to “survive until 2025” amid expectations of higher interest rates for longer.
Ms Conisbee said strong population growth and a housing supply shortage combatted the impact of rising interest rates in 2023, leading to unusually strong price growth during a rate hiking cycle. The latest CoreLogic data shows home values have increased by more than 10 percent in the year to date in Sydney, Brisbane and Perth. Among the regional markets, price growth has been strongest in regional South Australia with 8.6 percent growth and regional Queensland at 6.9 percent growth.
“As interest rates head close to peak, it is expected that price growth will continue. At this point, housing supply remains extremely low and many people that would be new home buyers are being pushed into the established market,” Ms Conisbee said. “Big jumps in rents are pushing more first home buyers into the market and population growth is continuing to be strong.”
Ms Conisbee said interest rates will be higher for longer due to sticky inflation. “… we are unlikely to see a rate cut until late 2024 or early 2025. This means mortgage holders need to survive until 2025, paying far more on their home loans than they did two years ago.”
Buyers in coastal areas currently have a window of opportunity to take advantage of softer prices, Ms Conisbee said. “Look out for beach house bargains over summer but you need to move quick. In many beachside holiday destinations, we saw a sharp rise in properties for sale and a corresponding fall in prices. This was driven by many pandemic driven holiday home purchases coming back on to the market.”
3 key housing market trends for 2024
Here are three of Ms Conisbee’s predictions for the key housing market trends of 2024.
Luxury apartment market to soar
Ms Conisbee said the types of apartments being built have changed dramatically amid more people choosing to live in apartments longer-term and Australia’s ageing population downsizing. “Demand is increasing for much larger, higher quality, more expensive developments. This has resulted in the most expensive apartments in Australia seeing price increases more than double those of an average priced apartment. This year, fewer apartments being built, growing population and a desire to live in some of Australia’s most sought-after inner urban areas will lead to a boom in luxury apartment demand.”
Homes to become even greener
The rising costs of energy and the health impacts of heat are two new factors driving interest in green homes, Ms Conisbee said. “Having a greener home utilising solar and batteries makes it cheaper to run air conditioning, heaters and pool pumps. We are heading into a particularly hot summer and having homes that are difficult to cool down makes them far more dangerous for the elderly and very young.”
More people living alone
For some time now, long-term social changes such as delayed marriage and an ageing population have led to more people living alone. However, Ms Conisbee points out that the pandemic also showed that many people prefer to live alone for lifestyle reasons. “Shorter term, the pandemic has shown that given the chance, many people prefer to live alone with a record increase in single-person households during the time. This trend may influence housing preferences, with a potential rise in demand for smaller dwellings and properties catering to individuals rather than traditional family units.”
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
