Prestige Property: 4 Lindsay Place, Bicton, WA
A heady combination of supreme architecture and sublime views.
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Designed by John LeClare Joseph of Superseed Architecture comes this three-level, 560sqm, 4-bedroom, 4-bathroom, 4-car garage pile set on 730sqm of cliff-face.
The spectacular home features uninterrupted water views across the Fremantle Harbour, Rottnest Island and the Indian Ocean — through swathes of double-glaze windows throughout the home — without forgoing feelings of privacy.
The home takes its design cues from the sleek forms of yachts and features expansive of pacific teak decking and cladding, white-painted steel elements, curved walls and sculptural skylights and ties it to a contemporary, airy feel with streams of light, concrete flooring and intelligent use of stone.
Built to entertain, the home offers numerous zones for hosting including the central balconies and sun halls – accessed by a custom-made sliding door – to create multiple indoor-outdoor spaces.
On the lowest level is a 150sqm alfresco entertaining area complete with built-in barbecue, kitchenette, imported Spanish bricks, a tropical themed landscaped garden, concealed outdoor shower and access to the infinity edge saltwater pool.
Back inside the house, on the uppermost floor is the open-plan living, dining and spacious kitchen – the centrepiece of which is a sculptural stone island complemented by the skylight above.
The home’s accommodation includes four bedroom suites with a guest suite by the pool on the lower level, two bedrooms on the middle level and an ultra-private main suite on the uppermost floor. Here, the main suite offers more views of the river and includes a spacious stone-adorned ensuite, walk-in dressing room with a freestanding bath.
Further additions to the home include a privately located study, with views outward to the river, an internal lift servicing all three levels, large capacity wine cellar and four-car stacker garage with a viewing window.
The home is listed with William Porteous Properties International’s Olivia Porteous (+61 423 557 438); POA. porteous.com.au
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Philip Lowe’s comments come amid property industry concerns about pressures on mortgage holders and rising rents
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Leaders in Australia’s property industry are calling on the RBA to hit the pause button on further interest rate rises following yesterday’s announcement to raise the cash rate to 4.1 percent.
CEO of the REINSW, Tim McKibbin, said it was time to let the 12 interest rate rises since May last year take effect.
“The REINSW would like to see the RBA hit pause and allow the 12 rate rises to date work their way through the economy. Property prices have rebounded because of supply and demand. I think that will continue with the rate rise,” said Mr McKibbin.
The Real Estate Institute of Australia today released its Housing Affordability Report for the March 2023 quarter which showed that in NSW, the proportion of family income required to meet the average loan repayments has risen to 55 percent, up from 44.5 percent a year ago.
Chief economist at Ray White, Nerida Conisbee, said while this latest increase would probably not push Australia into a recession, it had major implications for the housing market and the needs of ordinary Australians.
“As more countries head into recession, at this point, it does look like the RBA’s “narrow path” will get us through while taming inflation,” she said.
“In the meantime however, it is creating a headache for renters, buyers and new housing supply that is going to take many years to resolve.
“And every interest rate rise is extending that pain.”
In a speech to guests at Morgan Stanley’s Australia Summit released today, Governor Philip Lowe addressed the RBA board’s ‘narrow path’ approach, navigating continued economic growth while pushing inflation from its current level of 6.8 percent down to a more acceptable level of 2 to 3 percent.
“It is still possible to navigate this path and our ambition is to do so,” Mr Lowe said. “But it is a narrow path and likely to be a bumpy one, with risks on both sides.”
However, he said the alternative is persistent high inflation, which would do the national economy more damage in the longer term.
“If inflation stays high for too long, it will become ingrained in people’s expectations and high inflation will then be self-perpetuating,” he said. “As the historical experiences shows, the inevitable result of this would be even higher interest rates and, at some point, a larger increase in unemployment to get rid of the ingrained inflation.
“The Board’s priority is to do what it can to avoid this.”
While acknowledging that another rate rise would adversely affect many households, Mr Lowe said it was unavoidable if inflation was to be tamed.
“It is certainly true that if the Board had not lifted interest rates as it has done, some households would have avoided, for a short period, the financial pressures that come with higher mortgage rates,” he said.
“But this short-term gain would have been at a much higher medium-term cost. If we had not tightened monetary policy, the cost of living would be higher for longer. This would hurt all Australians and the functioning of our economy and would ultimately require even higher interest rates to bring inflation back down.
“So, as difficult as it is, the rise in interest rates is necessary to bring inflation back to target in a reasonable timeframe.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
