Prestige Property: 8 Wonderland Avenue, Tamarama, NSW
A glamorous slice of L.A. in Sydney’s eastern suburbs.
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If location is everything in real estate, this family residence overlooking Sydney’s Tamarama Beach has it all.
The recently built, 5-bedroom, 4-bathroom, 2-car home – designed by renowned architect Smyth and Smyth – sees spacious light filled, open plan interiors met with wondrous views over Tamarama.
The residence’s free-flowing living and dining areas spill out to expansive private entertainer’s terrace from the gourmet kitchen, connecting to the lawn and poolside space.
The home sees a combination of light, European oak flooring and polished concrete underfoot complemented by floor-to-ceiling glazing that brings the stunning beachside views indoors.
The kitchen is finished with a dolomite natural stone benchtop and Gaggenau appliances and is supplemented with a butler’s pantry.
Elsewhere, the home’s accommodation consists of four bedrooms on the upper level. Here, the master suite offers a walk-in-robe, luxury ensuite – tiled in dogal grey marble – with balcony and ocean views.
On the lower level, adjoining the two-car garage, arrives a separate self-contained apartment with separate entry, kitchen, bathroom, laundry and storage.
Outside, beyond the decking, comes the alkaline swimming pool, spa and poolside cabana complemented by the full bathroom and external hot water shower.
Additionally, a car turntable makes life that little bit easier when leaving.
The contemporary residence is conveniently located within a tightly-held and much sought after family neighbourhood, a short walk to Tamarama Beach, local cafes and public transport.
The listing is with Michael Pallier (+61 417 371 522) and Mary Lin ( +61 401 512 207) of Sydney Sotheby’s International; $18 million. sydneysothebysrealty.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’
