Property Of The Week: 68 Mount Gravatt Road, Upper Mount Gravatt, QLD
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Property Of The Week: 68 Mount Gravatt Road, Upper Mount Gravatt, QLD

Contemporary tri-level living in a picturesque location.

By Kanebridge News
Wed, Jun 2, 2021 2:23pmGrey Clock < 1 min

Boasting commanding views of Upper Mount Gravatt and Dittmer Park comes this gloriously appointed tri-level property.

The 3-bedroom, 2-bathroom, 2-car parking home sees elegant timber and carpeted floors paired with lofty ceiling heights and a crisp, white palette adding an acute contemporary feel to the home.

The upper-most level sees the spacious open-plan living and dining area, with a small break housing the kitchen, complete with breakfast bar, AEG appliances and plenty of storage options.

Here, the adjoining expansive terrace arrives with a built-in barbecue and vast amounts of space for hosting guests and enjoying those panoramic views.

Downstairs on the middle level comes the bedrooms. Here, the master comes with a walk-through robe, balcony access and a tidy ensuite. Also here are two additional bedrooms complete with balcony access and built-in robes.

On the lowest level is a self-contained ‘granny flat’ on ground level with separate access, bathroom facilities and a private balcony.

Further, the home sees a low-maintenance grassed rear year with established gardens and shed alongside a secure dual garage and functional workshop area.

The home is mere minutes from Mount Gravatt Plaza and Griffith University’s Nathan campus.

The listing is with Place Property’s Ban Salm, offers around $1,100,000; eplace.com



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Philip Lowe’s comments come amid property industry concerns about pressures on mortgage holders and rising rents

By KANEBRIDGE NEWS
Wed, Jun 7, 2023 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.”

MOST POPULAR

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

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