The Sydney property facing its past in style
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The Sydney property facing its past in style

This renovation of this estate-style Art Deco property is a masterclass of old meets new

By KANEBRIDGE NEWS
Thu, Feb 16, 2023 11:44amGrey Clock < 1 min

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



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The two Australian states where it’s a buyers’ market

Property values have experienced strong growth around the country, but there are two highly desirable areas where oversupply is putting downward pressure on sales

By Bronwyn Allen
Tue, Jun 18, 2024 2 min

While property values are rising strongly in most markets across Australia, it’s a vastly different story in Victoria and Tasmania, new data from CoreLogic shows. Over the 12 months to May 31, the median house price lifted just 1.8 percent in Melbourne and fell 0.6 percent in regional Victoria. The median dipped 0.1 percent in Hobart and ticked 0.4 percent higher in regional Tasmania. This is in stark contrast to Perth, where values are up 22 percent, and regional Western Australia, up 14.8 percent; as well as Brisbane, up 16.3 percent, and regional Queensland, up 11.8 percent.

CoreLogic Head of Research, Eliza Owen says an oversupply of homes for sale has weakened prices in Victoria and Tasmania, creating buyers’ markets.

On the supply side, there has been more of a build-up in new listings than usual across Victoria, even where home value performance has been relatively soft,” Ms Owen said. Victoria has also had more dwellings completed than any other state and territory in the past 10 years, keeping a lid on price growth. The additional choice in stock means vendors have to bring down their price expectations, and that brings values down.”

Melbourne dwelling values are now four percent below their record high and Hobart dwelling values are 11.5 percent below their record high. Both records were set more than two years ago in March 2022. The oversupply has also affected how long it takes to sell a property. The median days on market is currently 36 in Melbourne and 45 in Hobart compared to a combined capitals median of 27. It takes 55 days to sell in regional Victoria and 64 days in regional Tasmania compared to a combined regional median of 42 days.

Changes in population patterns have also contributed to higher numbers of homes for sale in recent years. Since COVID began in early 2020, thousands of families have left Melbourne because working from home meant they could buy a bigger property in more affordable areas. While many relocated to regional Victoria, a significant proportion left the state altogether, with South-East Queensland a favoured destination. Meantime, Tasmania’s surge in interstate migration during FY21 was short-lived. Data from the Australian Bureau of Statistics shows the island state has recorded a net loss of residents to other states and territories every quarter since June 2022.

Record overseas migration has more than offset interstate migration losses, thereby keeping Victoria’s and Tasmania’s populations growing. However, the impact of migrants on housing is largely seen in the rental market, so this segment of population gain has done little to support values. Growth in weekly rents has been far stronger than growth in home values over the past year, with rents up 9 percent in Melbourne and 4.8 percent in regional Victoria, and up 1 percent in Hobart and 2.7 percent in regional Tasmania.

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