Property Of The Week: 74 Beatrice Street, Hawthorne, QLD
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Property Of The Week: 74 Beatrice Street, Hawthorne, QLD

An expansive Queenslander heads to auction.

By Terry Christodoulou
Wed, Oct 6, 2021 3:36pmGrey Clock < 1 min

Combining its timeless appeal and character charm with modern fixtures comes the stunning period home in a premier Hawthorne pocket.

Offering street presence via a gabled roof, leadlight glass and traditional fretwork the home opens into an expansive family home with multiple living zones, 5-bedrooms, 3-bathrooms and 2-car garage set upon a 799sqm block.

The expansive upper level sees an open and airy lounge and dining area, fitted with timber flooring, vertical joinery on the walls, soaring ceiling heights and bi-fold doors.

The space seamlessly connects with the modern family kitchen while simultaneously guiding on to the side and rear decks for a perfect entertainer’s layout.

Also on the upper level is the master suite, complete with built-in robes and ensuite, alongside two other bedrooms – one of which enjoys a walk-in robe.

The ground floor sees two other bedrooms with built-in robes alongside a rumpus and laundry area as well as a 2-car garage and workshop space.

The lower level also enjoys further alfresco dining space and is complete with a stunning pool.

The homely property is just a short walk away from Lourdes Hill College and is nearby the riverfront, cafes and transport. It’s also conveniently 10-minutes away from the CBD.

The property is headed to auction and is managed by Belle Property Bulimba; belleproperty.com



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The crafty workarounds would-be buyers use to get into the market

First time buyers determined to enter the Australian property market are taking creative approaches as interest rates steady

By Bronwyn Allen
Thu, Mar 28, 2024 2 min

Aspiring first home buyers are increasingly pooling their resources, adopting new strategies and making compromises to get themselves onto the property ladder, according to research from Westpac. About 56 percent of buyers surveyed are planning to buy their first property jointly with their partner compared to 40 percent three years ago. Three in four buyers say they are willing to compromise on location, up nine percent from three years ago, and 47 percent are willing to pay lenders mortgage insurance to buy their first home sooner.

Additionally, one in two first home hopefuls are considering ‘rentvesting’, whereby they purchase an investment property first ahead of a home for themselves. In this scenario, buyers typically continue renting in expensive lifestyle locations where they want to live and buy an investment property in more affordable locations, often on the outskirts of major cities or in regional areas.

The 2024 Westpac Home Ownership Report, released this month, is based on a survey of 2,015 Australians conducted in January. The report revealed increasing intentions to buy among all types of buyers, with 44 percent intending to buy in the next five years, up from 35 percent in July 2023. This may reflect expectations that interest rates have peaked, with the Reserve Bank keeping rates on hold since December.

Among first home buyers specifically, there was a slight decline in purchasing intention over the next five years, with 86 percent delaying buying a home due to cost-of-living pressures. The survey also found that more people are planning to buy an investment property, which is reflected in recent finance data from the Australian Bureau of Statistics showing a 20 percent increase in the value of investor loans issued over the past year. Additionally, more people are planning to upsize their homes or renovate their existing homes.

Westpac managing director of mortgages Damien MacRae said first home buyers “are becoming more ruthless with their goals”. “They understand it’s a big task, but they are determined to break into the market and are willing to compromise to get there,” Mr MacRae said.

Buyers still prefer houses, but there has been a five percent decline in this preference since 2021 and a seven percent increase for apartments. Preference for a townhouse, or house and land packages, has increased markedly. “Buyers are casting their expectations wider, willing to compromise on location and are forgoing everyday luxuries like food delivery. They are also more inclined to relocate and move to apartment living.”

The latest Westpac-Melbourne Institute Consumer Sentiment Index released this week shows the ‘time to buy a dwelling’ index rose 4.9 percent to 77.8 out of 100 this month, which is a 15-month high, but still relatively weak overall. Buyer sentiment is notably stronger in Victoria at 84.3, with Westpac senior economist Matthew Hassan pointing to softening home values over the past four months.

In contrast, the NSW index is at 73.3 out of 100, likely reflecting affordability challenges in Australia’s most expensive market. “Nearly 70 percent of consumers expect housing prices to continue rising in the year ahead,” Mr Hassan added.

 

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

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