Prestige Property: 7 Laura Street, Seaforth, NSW
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Prestige Property: 7 Laura Street, Seaforth, NSW

A private luxurious abode built on the water’s edge.

By Terry Christodoulou
Fri, Jun 18, 2021 3:16pmGrey Clock < 1 min

Fusing Middle Harbour panoramas with vast masses of glass, stone and marble comes this world-class property delivering chic, coastal-inspired minimalism and functional design.

The 5-bedroom, 5-bathroom, 2-garage residence in the gilded seaside suburb of Seaforth was designed by architecture firm Dino Raccanello Design and is positioned in a tightly-held waterfront cul-de-sac with its own private marina.

Spread across 740sqm, the three-level residence offers 579sqm of internal living across open plan living zones. Here, multiple entertainment areas, terraces on every level and vast outdoor spaces make the home ideal for hosting.

This is further complemented by the gourmet kitchen adorned in a light beige Omani stone and fitted with a combination of Gaggenau and Miele appliances alongside Subzero refrigerators.

Upstairs sees the bulk of the bedrooms, including the master suite which enjoys a walk-in robe, ensuite – decorated in Bianco Rocchettaa marble from Italy and tiled in Grigio Bell marble. All bedrooms have access to the terrace.

The lower level of the residence sees a second living area replete with wet bar and access to further terraces alongside a guest bedroom complete with ensuite.

Also here is a home office or gym and a steam room with beige Omani stone custom benches echoing the design of the home.

Outside is where the home truly comes into its own with a gas-heated saltwater swimming pool the feature alongside landscaped gardens guiding one down to the aforementioned private pontoon with boat pen on site.

Further the home enjoys a heady range of mod-cons including heated flooring in the bathrooms and ground floor, a six-person lift to all levels, surround sound by Sonos and Bose. CBUS home automation and a solar panelled roof system.

The listing is with Atlas Property’s Michael Coombs (+61 407 980 443), price guide $17.5 million. Atlas.com.au

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House values continued to fall last month, but the pace of decline has slowed, CoreLogic reports.

In signs that the RBA’s aggressive approach to monetary policy is making an impact, CoreLogic’s Home Value Index reveals national dwelling values fell -1.0 percent in November, marking the smallest monthly decline since June.

The drop represents a -7.0 percent decline – or about $53,400 –  since the peak value recorded in April 2022. Research director at CoreLogic, Tim Lawless, said the Sydney and Melbourne markets are leading the way, with the capital cities experiencing the most significant falls. But it’s not all bad news for homeowners.

“Three months ago, Sydney housing values were falling at the monthly rate of -2.3 percent,” he said. “That has now reduced by a full percentage point to a decline of -1.3 percent in November.  In July, Melbourne home values were down -1.5 percent over the month, with the monthly decline almost halving last month to -0.8%.”

The rate of decline has also slowed in the smaller capitals, he said.  

“Potentially we are seeing the initial uncertainty around buying in a higher interest rate environment wearing off, while persistently low advertised stock levels have likely contributed to this trend towards smaller value falls,” Mr Lawless said. “However, it’s fair to say housing risk remains skewed to the downside while interest rates are still rising and household balance sheets become more thinly stretched.” 

The RBA has raised the cash rate from 0.10 in April  to 2.85 in November. The board is due to meet again next week, with most experts still predicting a further increase in the cash rate of 25 basis points despite the fall in house values.

Mr Lawless said if interest rates continue to increase, there is potential for declines to ‘reaccelerate’.

“Next year will be a particular test of serviceability and housing market stability, as the record-low fixed rate terms secured in 2021 start to expire,” Mr Lawless said.

Statistics released by the Australian Bureau of Statistics this week also reveal a slowdown in the rate of inflation last month, as higher mortgage repayments and cost of living pressures bite into household budgets.

However, ABS data reveals ongoing labour shortages and high levels of construction continues to fuel higher prices for new housing, although the rate of price growth eased in September and October. 

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