Sydney Housing Boom May Be Over
Sydney house values fell in February for the first time since October 2020.
< 1 min
Sydney house values fell 0.1% in February, marking the first monthly decline since September 2020 according to the latest data from CoreLogic.
Melbourne’s values also stagnated over the month following on from similarly dour results in December and January with mortgage rate hikes, rising listings and poor affordability takings its toll on the market.
According to Time Lawless, CoreLogic’s director of research, the February home value index showed capital city and broad regions recorded a slowing trend in price growth.
“Sydney’s price drop is a pretty stark reminder that the boom in Sydney is over, and potentially we are looking at a marketplace now that is levelling out, potentially even moving into its downward phase earlier than what we expected,” he said.
“This could be the start of price falls,” Mr Lawless added.
Across the nation, housing values rose by 0.6% — the lowest monthly growth rate since October 2020 and is down from 1.1% in January and a cyclical peak of 2.8% in March 2021.
While smaller capitals continued to power ahead with Brisbane and Adelaide marking 1.8% growth and 1.5% respectively their growth rates have also been tempered.
In February, Brisbane recorded a 2.3% lift while Adelaide added 2.2%. Elsewhere, Canberra slowed to 0.45 and Hobart by 1.2%, Perth by 0.3% and Darwin by 0.4%.
According to Mr Lawless, the smaller markets have been resilient to the slowing conditions but now we’re seeing it affect the market.
“I’m quite certain that Brisbane and Adelaide will continue to be the standout performers across the capitals, but they’re not immune to a slowdown on the back of higher mortgage rates and worsening sentiment.”
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.
The four-bedroom home “blends historic architecture, soaring open-plan living spaces and every possible contemporary comfort”
2 min
A unique home on the outskirts of London within a former chapel that had a starring role in the hit TV series “Call the Midwife” is on the rental market for £39,000 (US$48,568) per month.
The four-bedroom home was carved out of St Joseph’s Missionary College, which, founded in 1871, trained young Catholic priests to work as missionaries abroad, according to listing agency Dexters.
Before its conversion to a lavish private residence, the college’s chapel had a starring role as nursing convent Nonnatus House in the first two seasons of the feel-good BBC show, which focuses on a church-funded midwifery in the 1950s and 1960s, based on the bestselling memoirs of Jennifer Worth, a former London nurse.
When the historic college was sold for redevelopment in 2013, and production of “Call The Midwife” transferred to a studio set, the chapel—along with the rest of the building—was born again.
Dexters
Still going by the apt moniker of the Chapel, the home is the centrepiece of the site, which is now a gated development known as St Joseph’s Gate, said Dexters, which brought the home to the market in late February.
The home spans almost 10,000 square feet and “blends historic architecture, soaring open plan living spaces and every possible contemporary comfort,” said Andy Christophi, director of Dexters Finchley.
The chapel’s nave is now the dramatic heart of the home, complete with a 45-foot high vaulted timber ceiling.
The vast open-plan area—which also has columns and gothic-style arches—has a handcrafted kitchen, temperature-controlled wine storage, a curved living area with Victorian windows and enough space to easily host 30 at a dinner table, the listing said.
Above, a mezzanine bedroom has been constructed to appear as though floating above the main living area below.
The home also has a gym, a spa area with a sauna and steam room, and a media room.
“Perfect for a family that loves to entertain, its use as a filming location…makes it particularly iconic, and means you’ll never run out of dinner party conversation,” Christophi said.
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
