Property Of The Week: 7A Australia Street, Camperdown NSW
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Property Of The Week: 7A Australia Street, Camperdown NSW

Low-maintenance living in Sydney’s inner-west.

By Kanebridge News
Wed, Oct 20, 2021 11:13amGrey Clock < 1 min

Embracing the tranquillity of park-side living comes this stylish 2-bedroom, 2-bathroom, 1-car parking terrace in Sydney’s desirable inner-west locale, Camperdown.

The recently built set of townhouses retains the character façade of the previous grain refinery site before its rejuvenation.

The layout sees full-height glazing bring in streams of light across a split-level design that provides a heady combination of outdoor areas, accommodation and a study enclave.

The two-level residence sees an “entertainer’s” level that promotes fluent connections between indoor and outdoor living with the courtyard flowing to the kitchen – fitted with Smeg appliances — out to the dining and living space and onwards to the decked, and covered terrace.

Upstairs, the bedrooms feature built-in robes with the master suite providing its own balconette alongside an ensuite. Here, the ensuite is adorned in marble and sees premium fittings, matching the main bathroom.

This residence offers the opportunity to enjoy the best of Camperdown’s cafes, Camperdown Park, quick and easy access to universities, Newtown’s bustling King Street and more.

The property is headed to auction on Saturday, November 13 and is managed by Belle Property Annandale; belleproperty.com

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Data reveals house values have continued to decrease, but the rate has slowed as the RBA Board prepares to meet next week

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Thu, Dec 1, 2022 2 min

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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