Property Of The Week: 21 Davidson Street, Balmain, NSW
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Property Of The Week: 21 Davidson Street, Balmain, NSW

A stylishly renovated terrace is headed to auction.

By Terry Christodoulou
Wed, Sep 29, 2021 1:21pmGrey Clock < 1 min

Sydney’s Balmain is a particularly fashionable outpost, and here is a stylishly renovated home set within a charming Victorian terrace.

The interiors of the 2-bedroom, 2-bathroom home have been reinvented with designer flair and sees custom joinery and marble adornments combine to form a striking contemporary residence.

Home has been intelligently designed to feature natural light throughout and sees an abundance of clean modern lines in its design, further punctuated with the aforementioned custom joinery and polished concrete flooring.

The kitchen sees a sky-light above – adding swathes of light – and is fitted with Smeg appliances and marble benches.

The marble benchtops are a recurring theme throughout the home, adorning the living space that bleeds out to the outdoor courtyard through floor-to-ceiling glass doors.

The elongated rear courtyard sees easy-to-manage synthetic turf underfoot and a built-in barbecue, bar and seating area.

The upper level hosts the master retreat, with large built-in robes and balcony access. Also here is the ensuite, with twin vanities and double shower replete with more of the matching marble. The lower level hosts the second bedroom.

Further mod-cons include a gas fireplace in the living and dining area, built-in sound system a coordinating bathroom on the lower level, period details such as the patio and balcony.

The home is located in a walk-everywhere address between Punch Park and Balmain’s village heart.

The listing is headed to auction on October 9, and is managed by BresicWhitney. Buyer’s Guide $1,800,000; bresicwhitney.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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