Property Of The Week: 82 Annesley Street, Leichhardt, NSW
A stylish Sydney pad is up for auction.
A stylish Sydney pad is up for auction.
This charming character residence has been architecturally transformed to deliver a truly spectacular sense of style and space.
The 4-bedroom, 2-bathroom home combines a light-filled contemporary layout across 202sqm with modern finishes throughout and an ‘oasis’ outdoor area that makes entertaining easy.
The modern refit sees cleverly designed spaces injected with moments of industrial interest through exposed brick walls, floorboards, curving surfaces, steel beams, and elevated ceiling heights.
Inside the home sees the interiors open out to the outdoor area – replete with sandstone paving, for a seamless indoor-outdoor flow.
A testament to the home’s entertaining prowess comes the deluxe chef’s kitchen with stainless steel benchtops and gas cooking.
The home features four bedrooms and includes an upstairs main with a walk-in and private reading space. The other bedrooms arrive with built-in wardrobes.
Further, the main bathroom arrives in a vibrant blue – adding contemporary appeal to the home.
Elsewhere a generous attic and lock up shed provide boundless storage options.
Located in the highly desirable suburb of Leichhardt, the property is nearby to cafes, shops, and transport along the renowned Norton street.
The listing is with Hudson McHugh and is heading to auction on July 1, 6pm; hmch.com.au
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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
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.
Alexandre de Betak and his wife are focusing on their most personal project yet.