The Sydney property facing its past in style
This renovation of this estate-style Art Deco property is a masterclass of old meets new
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It’s one of the hottest looks right now, but Art Deco properties as beautiful as this are in short supply.
The residence at 19-21 Ellsmore Avenue in leafy Killara on Sydney’s north shore sits on a 1,517sqm block surrounded by carefully maintained parterre gardens and generous lawns.
Ideal for larger families, there are five bedrooms on offer, including four on street level and a fifth bedroom that could serve as a guest room or in-law accommodation on the lower floor.
With a generous, light-filled entry foyer and multiple living spaces, this is the perfect home for entertaining, whether it’s a casual get together with family or a more formal event.
The back of the house faces north east, with a formal pool the full length of the northern side of the property. There’s also an outdoor kitchen for alfresco dining.
Those accustomed to working from home will also appreciate the spacious home office with views to the garden.
However, while the floorplan ticks all the boxes in terms of practicalities, it’s the original Art Deco features that really set this property apart. Thoughtfully renovated to combine the best of old and new, the full-brick residence has retained, restored and gently updated features such as the curved lines, leadlight glass, coffered ceilings and marble fireplaces.
A state–of-the-art kitchen, floor-to-ceiling curtains, period architraves and a neutral palette recall the glamour of the period, ideally suited to 21st century living.
Located a stone’s throw from Killara Golf Club and within walking distance of schools, Lindfield Station and Harris Farm market, this is one property to keep on the radar.
Address: 19-21 Ellsmore Avenue, Killara
For sale
Open for inspection: 2pm Saturday, February 18
Agent: Jason Roach – 0448 455 556 The Agency, theagency.com.au
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.
New research suggests spending 40 percent of household income on loan repayments is the new normal
3 min
Requiring more than 30 percent of household income to service a home loan has long been considered the benchmark for ‘housing stress’. Yet research shows it is becoming the new normal. The 2024 ANZ CoreLogic Housing Affordability Report reveals home loans on only 17 percent of homes are ‘serviceable’ if serviceability is limited to 30 percent of the median national household income.
Based on 40 percent of household income, just 37 percent of properties would be serviceable on a mortgage covering 80 percent of the purchase price. ANZ CoreLogic suggest 40 may be the new 30 when it comes to home loan serviceability. “Looking ahead, there is little prospect for the mortgage serviceability indicator to move back into the 30 percent range any time soon,” says the report.
“This is because the cash rate is not expected to be cut until late 2024, and home values have continued to rise, even amid relatively high interest rate settings.” ANZ CoreLogic estimate that home loan rates would have to fall to about 4.7 percent to bring serviceability under 40 percent.
CoreLogic has broken down the actual household income required to service a home loan on a 6.27 percent interest rate for an 80 percent loan based on current median house and unit values in each capital city. As expected, affordability is worst in the most expensive property market, Sydney.
Sydney
Sydney’s median house price is $1,414,229 and the median unit price is $839,344.
Based on 40 percent serviceability, households need a total income of $211,456 to afford a home loan for a house and $125,499 for a unit. The city’s actual median household income is $120,554.
Melbourne
Melbourne’s median house price is $935,049 and the median apartment price is $612,906.
Based on 40 percent serviceability, households need a total income of $139,809 to afford a home loan for a house and $91,642 for a unit. The city’s actual median household income is $110,324.
Brisbane
Brisbane’s median house price is $909,988 and the median unit price is $587,793.
Based on 40 percent serviceability, households need a total income of $136,062 to afford a home loan for a house and $87,887 for a unit. The city’s actual median household income is $107,243.
Adelaide
Adelaide’s median house price is $785,971 and the median apartment price is $504,799.
Based on 40 percent serviceability, households need a total income of $117,519 to afford a home loan for a house and $75,478 for a unit. The city’s actual median household income is $89,806.
Perth
Perth’s median house price is $735,276 and the median unit price is $495,360.
Based on 40 percent serviceability, households need a total income of $109,939 to afford a home loan for a house and $74,066 for a unit. The city’s actual median household income is $108,057.
Hobart
Hobart’s median house price is $692,951 and the median apartment price is $522,258.
Based on 40 percent serviceability, households need a total income of $103,610 to afford a home loan for a house and $78,088 for a unit. The city’s actual median household income is $89,515.
Darwin
Darwin’s median house price is $573,498 and the median unit price is $367,716.
Based on 40 percent serviceability, households need a total income of $85,750 to afford a home loan for a house and $54,981 for a unit. The city’s actual median household income is $126,193.
Canberra
Canberra’s median house price is $964,136 and the median apartment price is $585,057.
Based on 40 percent serviceability, households need a total income of $144,158 to afford a home loan for a house and $87,478 for a unit. The city’s actual median household income is $137,760.
This stylish family home combines a classic palette and finishes with a flexible floorplan
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