Prestige Property: Quamby Estate, Hagley, TAS
One of Australia’s most historic homes hits the market.
2 min
Quamby Estate has adopted diverse and distinguished roles in the rural, cultural and political life of Tasmania.
The historic manse – which dates back to 1828 – remains as one of Australia’s most desirable family homes.
The 10-bedroom, 10-bathroom, 5-car parking pile is surrounded by some 64-hectares of prime farming land, ideal for those who prize privacy, and are searching for a comprehensive escape from city life.
The picturesque homestead – built in an Anglo-colonial style – is a heady mix of art and architectural wonder with an elegant flagstone paved verandah wrapping around the residence to the north and east – bringing beautiful light to the home.
With a distant view of Ben Lomond plateau the house enjoys double-hipped roods and attics and is structured around a transverse hall. Aside from the ballroom, which was added later, the principal rooms open directly onto the verandah through eight-pane French doors in pairs with transom lights.
Upon entry one is led into the hall which sees two evocative reception rooms – each embodying the home’s classic character with French doors and fireplaces and a library wedged between.
Elsewhere, the dining room’s soaring ceiling, floorboards and generous proportions are ideal for entertaining with an adjoining bar and fireplace adding a layer of intimacy to the residence.
The kitchen – which is built to a commercial quality – ensures Quamby has indeed, moved with the times.
The expansive residence is privy to 10 bedrooms, each accompanied by a sophisticated ensuite.
However, the estate is not limited to the historic homestead, with Quamby including its own manicured nine-hole golf course (yes it has its own golf course), complete with its own clubhouse delivered in a converted stables building.
Further Quamby’s light-filled function room, Georgian era coach house and extensive farm outbuildings play to the estate’s adaptability, with many hosting weddings on the grounds.
Built for Sir Richard Dry, who became the first Australian born state premier, the home sits just 10 minutes from the township of Hagley, and only 30 minutes from Launceston.
The listing is with Knight Frank Tasmania’s Sam Woolcock (+61 400 813 033). Price guide, $8-$10 million; knighfranktasmania.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
2 min
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
