Prestige Property: 5/383 Mandalay Road, Airlie Beach QLD
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Prestige Property: 5/383 Mandalay Road, Airlie Beach QLD

An expansive mansion at the edge of the Coral Sea

By Terry Christodoulou
Fri, Jul 9, 2021 4:46pmGrey Clock < 1 min

Private and palatial, Mandalay House is one of Australia’s finest waterfront residences set on the sweeping Coral Sea and backed by National Park.

The Mediterranean inspired residence – complete with Venetian plastering, sandstone outdoor tiling and terracotta inspired roof –  took 3.5 years to construct and rests on a 4242sqm plot with 2649sqm of living offering 7-bedrooms, 9-bathrooms, 5-car garage.

The north-west facing home sees magnificent gardens, terraces and a resort-inspired horizon pool that overlooks the waters towards the Great Barrier Reef and Whitsunday Islands.

Inside, the home is opulently appointed with marble finishes, parquet inspired tiling, high ceilings, custom joinery, expansive living and sitting areas and banquet-sized dining.

Further, the home’s kitchen offers a marble-topped space complete with Miele appliances, a butler’s pantry and cold room.

Upstairs the home is complete with a 144sqm master retreat with lavish ensuite, further views a fireplace and 52sqm of robes with dressing room.

Elsewhere, six king-sized bedrooms with ensuite and sitting, car accommodation for five and lift access between all the levels rounds out the home’s offerings.

Enjoy the location with a private marina with rock walls, jet ski bats, private boatshed and helipad – ideal for hopping between all the islands.

Back within the confines of the home sees a home theatre with tiered seating and a gymnasium while a climate-controlled cellar alongside a tasting room and games room.

A caretaker’s cottage is also found on the grounds.

New owners will be able to fly to any of the three airports nearby and enjoy the world-famous Dent Island golf course, idyllic surrounds of the Great Barrier Reef and all the Whitsundays has to offer.

The listing is with Ray White Whitsunday’s Mark Beal and Christie’s International’s Ken Jacobs (+61 407 190 152), price guide; over $20 million. raywhitewhitsunday.com / prestigehomes.com.au



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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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How much income is required to service a mortgage? It depends on where you live

New research suggests spending 40 percent of household income on loan repayments is the new normal

By Bronwyn Allen
Thu, Apr 25, 2024 3 min

Requiring more than 30 percent of household income to service a home loan has long been considered the benchmark for ‘housing stress’. Yet research shows it is becoming the new normal. The 2024 ANZ CoreLogic Housing Affordability Report reveals home loans on only 17 percent of homes are ‘serviceable’ if serviceability is limited to 30 percent of the median national household income.

Based on 40 percent of household income, just 37 percent of properties would be serviceable on a mortgage covering 80 percent of the purchase price. ANZ CoreLogic suggest 40 may be the new 30 when it comes to home loan serviceability. “Looking ahead, there is little prospect for the mortgage serviceability indicator to move back into the 30 percent range any time soon,” says the report.

“This is because the cash rate is not expected to be cut until late 2024, and home values have continued to rise, even amid relatively high interest rate settings.” ANZ CoreLogic estimate that home loan rates would have to fall to about 4.7 percent to bring serviceability under 40 percent.

CoreLogic has broken down the actual household income required to service a home loan on a 6.27 percent interest rate for an 80 percent loan based on current median house and unit values in each capital city. As expected, affordability is worst in the most expensive property market, Sydney.

Sydney

Sydney’s median house price is $1,414,229 and the median unit price is $839,344.

Based on 40 percent serviceability, households need a total income of $211,456 to afford a home loan for a house and $125,499 for a unit. The city’s actual median household income is $120,554.

Melbourne

Melbourne’s median house price is $935,049 and the median apartment price is $612,906.

Based on 40 percent serviceability, households need a total income of $139,809 to afford a home loan for a house and $91,642 for a unit. The city’s actual median household income is $110,324.

Brisbane

Brisbane’s median house price is $909,988 and the median unit price is $587,793.

Based on 40 percent serviceability, households need a total income of $136,062 to afford a home loan for a house and $87,887 for a unit. The city’s actual median household income is $107,243.

Adelaide

Adelaide’s median house price is $785,971 and the median apartment price is $504,799.

Based on 40 percent serviceability, households need a total income of $117,519 to afford a home loan for a house and $75,478 for a unit. The city’s actual median household income is $89,806.

Perth

Perth’s median house price is $735,276 and the median unit price is $495,360.

Based on 40 percent serviceability, households need a total income of $109,939 to afford a home loan for a house and $74,066 for a unit. The city’s actual median household income is $108,057.

Hobart

Hobart’s median house price is $692,951 and the median apartment price is $522,258.

Based on 40 percent serviceability, households need a total income of $103,610 to afford a home loan for a house and $78,088 for a unit. The city’s actual median household income is $89,515.

Darwin

Darwin’s median house price is $573,498 and the median unit price is $367,716.

Based on 40 percent serviceability, households need a total income of $85,750 to afford a home loan for a house and $54,981 for a unit. The city’s actual median household income is $126,193.

Canberra

Canberra’s median house price is $964,136 and the median apartment price is $585,057.

Based on 40 percent serviceability, households need a total income of $144,158 to afford a home loan for a house and $87,478 for a unit. The city’s actual median household income is $137,760.

 

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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

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