The Australian penthouse with the lot – no really
Even the price is a pleasant surprise
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When people talk about premier property, they might focus on location, size or even alfresco space. But few on the market come with the lot.
This property in Mandurah Marina, south of Perth, is a two-level corner penthouse positioned on absolute waterfront on Marco Polo Drive. Along with four bedrooms, four bathrooms and living areas on both floors, it has commanding 270 degree views of the marina and Indian Ocean all the way to Rottnest Island.
Internal floor space of 332sqm is complemented by 316sqm of wraparound balcony space on both levels. Ducted reverse cycle aircon and remote control blinds offer complete light and temperature control with kitchens on both levels for easy entertaining.
Residents also have full access to building facilities including the heated pool, sauna, spa and gym, while the penthouse sale includes three side-by-side car bays and 6sqm of storage.
Mandurah is known for its natural environment and stunning beaches and was awarded Western Australia’s Top Tourism Town Award last year.
Address: 1401/3 Marco Polo Drive, Mandurah
Price Guide: $2m to $2.5m
Agent: John Phillips 0408 954 901 The Agency
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.
Excluding the Covid-19 pandemic period, annual growth was the lowest since 1992
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Australia’s commodity-rich economy recorded its weakest growth momentum since the early 1990s in the second quarter, as consumers and businesses continued to feel the impact of high interest rates, with little expectation of a reprieve from the Reserve Bank of Australia in the near term.
The economy grew 0.2% in the second quarter from the first, with annual growth running at 1.0%, the Australian Bureau of Statistics said Wednesday. The results were in line with market expectations.
It was the 11th consecutive quarter of growth, although the economy slowed sharply over the year to June 30, the ABS said.
Excluding the Covid-19 pandemic period, annual growth was the lowest since 1992, the year that included a gradual recovery from a recession in 1991.
The economy remained in a deep per capita recession, with gross domestic product per capita falling 0.4% from the previous quarter, a sixth consecutive quarterly fall, the ABS said.
A big area of weakness in the economy was household spending, which fell 0.2% from the first quarter, detracting 0.1 percentage point from GDP growth.
On a yearly basis, consumption growth came in at just 0.5% in the second quarter, well below the 1.1% figure the RBA had expected, and was broad-based.
The soft growth report comes as the RBA continues to warn that inflation remains stubbornly high, ruling out near-term interest-rate cuts.
RBA Gov. Michele Bullock said last month that near-term rate cuts aren’t being considered.
Money markets have priced in a cut at the end of this year, while most economists expect that the RBA will stand pat until early 2025.
Treasurer Jim Chalmers has warned this week that high interest rates are “smashing the economy.”
Still, with income tax cuts delivered at the start of July, there are some expectations that consumers will be in a better position to spend in the third quarter, reviving the economy to some degree.
“Output has now grown at 0.2% for three consecutive quarters now. That leaves little doubt that the economy is growing well below potential,” said Abhijit Surya, economist at Capital Economics.
“But if activity does continue to disappoint, the RBA could well cut interest rates sooner,” Surya added.
Government spending rose 1.4% over the quarter, due in part to strength in social-benefits programs for health services, the ABS said.
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.
