Property Of The Week: 6 Desaumarez St, Kensington Park, SA
An inviting character home heads to auction.
< 1 min
Located on the quiet, English Oak tree-lined Desaumarez street in the eastern suburbs hot spot of Adelaide’s Kensington Park is this warm, character residence reborn.
Built circa 1926, the home has been extensively renovated and sees 3-bedrooms, 2-bathrooms and 1-garage.
On arrival, one notes the privacy offered through manicured hedges and the handbuilt wooden slate gate. Here, entering into the driveway is a Japanese inspired, professionally landscaped garden, replete with Volcanic Basalt pavers, walls and feature boulders.
Upon entry, the home’s charm and immediate warmth is apparent – provided by the polished Tasmanian Oak floorboards and the sunny aspect.
The home meanders from room to room – echoing the kind of serenity found in the gardens. Here, a wide entrance – replete with feature lighting – guides one through to the dining area, which overlooks the established gardens.
The main living spaces are home to a custom “library wall”, gas fireplace in the main lounge, and German designed Paarhammer custom tilt-and turn windows.
It’s also here the kitchen lands, complete with Falcon gas cooker, oven, overhead pot filler and Miele appliances.
A Sonos audio system serves the rear garden, kitchen and dining area, bathroom and main bedroom.
The home is also privy to three bedrooms, with the master bedroom complete with built-in robe, more custom joinery (which houses VAF speakers).
Kensington Park is close to The Parade’s boutique shops, cafes, cinemas, Burnside Village, Marryatville shopping precinct and elite schools including Pembroke, Marryatville and Norwood Morialta.
The listing is headed to auction on June 5 and is managed by Stephanie Williams (+61 413 874 888) of Williams Real Estate. Williamsproperty.com.au
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
New research suggests spending 40 percent of household income on loan repayments is the new normal
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.
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
