This Toorak Mansion Could Break The Victorian Record
Blair House presents itself as a once-in-a-lifetime opportunity.
2 min
Discreet and luxurious, Blair House is unquestionably one of Melbourne’s most significant estates.
Set within approx. 7800sqm of botanic parklands in what is Toorak’s most coveted boulevard comes a solid brick three-storey Georgian Revival pile of 10 bedrooms, 7 bathrooms and 4 car parking.
The home was originally designed in 1836 by architects Hughes and Orme and occupies what once was the grounds of Victoria’s first Government House.
The grounds themselves see the home sit behind a high-walled garden and a row of rare Alnus Glutinosa trees line the drive leading to the home.
The grandeur of the home is met with warm oak flooring, timber panelling, Georgian windows and simple arches that accentuate the home’s refined elegance.
Here, the reception hall at the centre of the home leads to a series of formal and family rooms – each with its own garden outlook. Elsewhere, a drawing room is fitted with a fireplace, as is the sitting room while a stunning garden room all embraces the glorious north-facing hedged garden.
Further, the grand formal dining room (with yet another fireplace) is serviced by a separate kitchen featuring an AGA oven, breakfast room and a butler’s pantry.
Built to entertain, the reception hall flows outwards towards a large terrace with views of the grounds and a sprawling Oak tree.
Upstairs, via a broad staircase sees an abundance of accommodation including three double bedrooms — each with ensuites and robes — and four additional bedrooms, a fourth bathroom and two dressing rooms. Also upstairs is a library area, retreat and a study.
Up a third level and overlooking the garden through dormer windows comes a palatial living room, studio or bedroom, accompanied by a large dressing room and bathroom.
Also on the property is a double-storey converted stable that provides an additional 2/3 bedroom self-contained family or guest accommodation with its own car access from Dalriada Street.
Additionally, the gardens too are split into a series of “rooms”. For example, the north-south lawn tennis court, the Victorian glasshouse, a rose garden and kitchen gardens serve as separate spaces.
This listing is only the second time that “Blair House’ has become available, and such a unique opportunity is unlikely to be seen in Toorak within this lifetime. As such, the price guide for the property is set at a record-breaking $65 million – $70 million.
For more information contact Marshall White’s Marcus Chiminello (+61 411 411 271) or Sonja Sendin (+61 406 811 040); marshallwhite.com.au
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Ray White’s chief economist outlines her predictions for housing market trends in 2024
2 min
Ray White’s chief economist, Nerida Conisbee says property price growth will continue next year and mortgage holders will need to “survive until 2025” amid expectations of higher interest rates for longer.
Ms Conisbee said strong population growth and a housing supply shortage combatted the impact of rising interest rates in 2023, leading to unusually strong price growth during a rate hiking cycle. The latest CoreLogic data shows home values have increased by more than 10 percent in the year to date in Sydney, Brisbane and Perth. Among the regional markets, price growth has been strongest in regional South Australia with 8.6 percent growth and regional Queensland at 6.9 percent growth.
“As interest rates head close to peak, it is expected that price growth will continue. At this point, housing supply remains extremely low and many people that would be new home buyers are being pushed into the established market,” Ms Conisbee said. “Big jumps in rents are pushing more first home buyers into the market and population growth is continuing to be strong.”
Ms Conisbee said interest rates will be higher for longer due to sticky inflation. “… we are unlikely to see a rate cut until late 2024 or early 2025. This means mortgage holders need to survive until 2025, paying far more on their home loans than they did two years ago.”
Buyers in coastal areas currently have a window of opportunity to take advantage of softer prices, Ms Conisbee said. “Look out for beach house bargains over summer but you need to move quick. In many beachside holiday destinations, we saw a sharp rise in properties for sale and a corresponding fall in prices. This was driven by many pandemic driven holiday home purchases coming back on to the market.”
3 key housing market trends for 2024
Here are three of Ms Conisbee’s predictions for the key housing market trends of 2024.
Luxury apartment market to soar
Ms Conisbee said the types of apartments being built have changed dramatically amid more people choosing to live in apartments longer-term and Australia’s ageing population downsizing. “Demand is increasing for much larger, higher quality, more expensive developments. This has resulted in the most expensive apartments in Australia seeing price increases more than double those of an average priced apartment. This year, fewer apartments being built, growing population and a desire to live in some of Australia’s most sought-after inner urban areas will lead to a boom in luxury apartment demand.”
Homes to become even greener
The rising costs of energy and the health impacts of heat are two new factors driving interest in green homes, Ms Conisbee said. “Having a greener home utilising solar and batteries makes it cheaper to run air conditioning, heaters and pool pumps. We are heading into a particularly hot summer and having homes that are difficult to cool down makes them far more dangerous for the elderly and very young.”
More people living alone
For some time now, long-term social changes such as delayed marriage and an ageing population have led to more people living alone. However, Ms Conisbee points out that the pandemic also showed that many people prefer to live alone for lifestyle reasons. “Shorter term, the pandemic has shown that given the chance, many people prefer to live alone with a record increase in single-person households during the time. This trend may influence housing preferences, with a potential rise in demand for smaller dwellings and properties catering to individuals rather than traditional family units.”
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
