Residential Magazine June 10 by CommunityNewspaperGroup

residential WESTERN SUBURBS WEEKLY

ISSUE 17 • JUNE 10 • 2008

European style by the seaside Grand beachside mansion offers all the splendour of a luxurious boutique hotel

INDEX

residential WESTERN SUBURBS WEEKLY

ISSUE 17 • JUNE 10 • 2008

European style by the seaside Grand beachside mansion offers all the splendour of a luxurious boutique hotel

It’s all about our passion and taking the next step

NEWS

THANK you for all the positive feedback on Western Suburbs Weekly’s new real estate magazine Residential. Support from both readers and advertisers has been overwhelming since the magazine was launched four months ago. Now that we have set the industry standard for real estate in the western suburbs, we would like to raise the bar by providing even more stories and information about market trends and people in the industry. In this week’s edition, prominent western suburbs realtors discuss a winter lull in the property market, and advise how vendors can help their property sell in what is becoming an

2, 3, 6

COVER STORY

Panoramic ocean views, framed by palm trees, are enjoyed from the front of this superb property. One of the main highlights through the home is a climate-controlled undercroft wine cellar, which has handcrafted wrought iron gates.

REVIEWS

7-18

PROPERTIES FOR SALE

JUST LISTED

NEW HOMES

FORM & FUNCTION

COAST AND COUNTRY

‘We would like to raise the bar a little higher’ ANDREW GREGORY Editor

increasingly tough market. On the other side of the transaction, mortgage man Gavin Cox offers some sound advice to prospective homebuyers on how to avoid over-borrowing, and the hidden advantage of buying in Perth. The New Homes section has all the latest figures and forecasts from the

residential construction sector, where an industry research company has predicted that the shortage in new dwellings in Australia will last 10 years or more. Group Real Estate and Money Editor Stephen Miles examines rising levels of mortgage stress, in both younger borrowers and those in their 40s and 50s, as recent interest-rate rises and falling property values take their toll. Residential’s Form & Function writer Donna Coleman explores a growing trend in home design called integrated kitchens. As always, Residential reviews the latest prestige properties to hit the marke, plus the most luxurious homes available in the Southwest. ■

CONTACTS

23-28

DOLLARS & SENSE

Group Real Estate Editor: Stephen Miles (08) 9237 1540 Stephen.Miles@communitynews.com.au Residential Editor: Andrew Gregory (08) 9237 1487 Andrew.Gregory@communitynews.com.au

120 Roe Street, Northbridge WA 6003 Phone: (08) 9237 1630 Fax: (08) 9237 1059 residential@communitynews.com.au Published by: Community Newspaper Group, 120 Roe Street, Northbridge, WA, 6003 and printed by West Australian Newspapers Limited, 54 Hasler Road, Osborne Park, WA, 6017

Writers:

Romena Manning (08) 9237 1464 Romena.Manning@communitynews.com.au Lucy Rickard (08) 9237 1464 Lucy.Rickard@communitynews.com.au Jane Evans (08) 9237 1464 Jane.Evans@communitynews.com.au Courtney Notte (08) 9237 1464 Courtney.Notte@communitynews.com.au

Advertising Manager: Jenny Weir

(08) 9237 1602

Advertising Representatives: Karen Martin (08) 92371569 or 0413 444 011 Karen.Martin@wsweekly.com.au Kerrie Allen

(08) 92371030 or 0413 444 073 Kerrie.Allen@communitynews.com.au

Office Co-ordinator: Fiona Hart

(08) 9237 1630

Staff Photographers: Will Russell, Andrew Ritchie Editorial Designers: Michelle Pierre, Jody Castrianni For requests for property reviews, please e-mail: residential@communitynews.ccom.au Fax: 08 92371055

H O M E S FOR LEASE CITY BEACH

$700 p/w

CLAREMONT

$2000 p/w

CLAREMONT

$800 p/w

DOUBLEVIEW

$430 p/w

Boscombe Avenue Walk to the Beach

180 DEGREE VIEWS OF THE RIVER Victoria Avenue

BREATH TAKING RIVER VIEWS Victoria Avenue

A HOME FOR YOU AND YOUR FAMILY Holbeck Street

Refurbished 3x1 open plan home in quiet street. Walking distance to beach and nature reserve.

Mindblowing river views. This 4 Bed, 3 Bath executive home has all the boxes ticked.

Luxurious one bedroom apartment is river front living at its best.

This light & bright 3bed, 1bath home. Feats A/C, good sized rooms & lock up garage.

Del Potter

Tegan Sutton

Del Potter

Tegan Sutton

NEDLANDS

$900 p/w

NEDLANDS

$230 p/w

WEMBLEY

$240 p/w

FANTASTIC FAMILY HOME Florence Road

SMALL BUT SPACIOUS Hampden Road

WOW! WHAT A LOCATION Herdsman Parade

Spacious 5 bed 2bath character home with gourmet kitchen & beautiful outdoor entertaining area.

This is a great bedsit/studio apartment in a fantastic location close to cafes, uni & transport.

Partially renovated 2 bed apartment. Feats laundry & bathroom. All amenties on your doorstep.

Tegan Sutton

LIKE YOUR INVESTMENT PROPERTY HANDLED BY EXPERTS? Make the switch to Airey & Associates today. Call Today for a FREE management appraisal.

9384 0077 rentals@airey.com.au

9384 0077 www.airey.com.au

NEWS

Uncertainties blamed for winter lull in property market Stamp duty changes, interest rates and conflicting media reports contributing to buyers’ wait-and-see approach. By ANDREW GREGORY WESTERN suburbs’ real estate agents have confirmed a winter lull in the property market as buyers wait on stamp duty cuts amid continuing uncertainty over interest rates. Outspoken real estate agent Gordon Davies said the State Government should have slashed stamp duty immediately, when it announced the changes to the State Budget in May, rather than delaying Gordon Davies them until the new financial year. “If they are going to do these things, they should do it straight away,” Mr Davies said. “The banks do it straight away when they are putting up rates. “This waiting period has caused an artificial lull in the market. However, that is only a minor contributor to the sluggish conditions.” Mr Davies blamed conflicting media reports of extreme property price predictions for some of the uncertainty among prospective buyers. “If the press would just shut up, it would allow the market to take its natural course,” he said. Borrowers breathed a sigh of relief on Tuesday when the Reserve Bank of

Australia kept interest rates on hold for the third consecutive month. RBA governor Glenn Stevens said there was evidence the substantial tightening in financial conditions since mid-2007 was helping to reduce a strong growth in demand in the economy. “While labour market conditions to date have remained strong, indicators of household spending have recorded subdued outcomes over recent months, and credit expansion to both households and businesses has weakened significantly,” he said. Mr Stevens said the central bank’s rate rises, independent rate rises by lenders and stricter borrowing criteria have also helped to moderate demand. Still, property market heavyweight CB Richard Ellis has predicted tougher times ahead for the Perth residential market, including the normally immune $1 million-plus bracket. CBRE residential valuations director Michael Veletta pointed to the latest figures, which showed more than 17,600 properties Michael Veletta on the market, with an average sale time of 71 days.

“Price alone does not appear to be the sole contributor to these changing market conditions, with buyers adopting a wait-and-see approach given uncertainty around interest rates and housing affordability,” Mr Veletta said. Robbie Young, of Schwenke Young & Co, said he was surprised some buyers were not aware of the looming cuts to stamp duty for residential property Robbie Young in WA. The ignorance was not limited to buyers at the lower end of the price scale and included prospective buyers of premium homes. “I think there is a lull but I don’t know if it is 100 per cent to do with the economic climate, or if it’s all to do with these stamp duty changes,” he said. “It’s a bit of both. “The introduction of the stamp duty changes may trigger a miniature property bubble that would be over in less than a month. “I think you will see a little bubble initially in the first two to three weeks, but after that we will be back to normal market conditions.” ■

Expert: Seller’s asking price needs to grab attention SPOILT-for-choice buyers are shunning all but the cheapest properties in their target area, according to Geoff Baldwin Group managing director Geoff Baldwin. He said the cheapest 5 per cent of properties attracted eight times more inquiries than the next 5 per cent. Inquiries for properties outside the cheapest 15 per cent were almost nonexistent.

FLOREAT Melanie Fear

“Many sellers continue to argue that their house is bigger or better and this may be the case,” Mr Baldwin said. “However, in this market it is all about price and if the property isn’t priced to grab attention, it will simply not attract buyers as they simply have too much from which to choose.” Mr Baldwin estimates there is just one genuine buyer for every 30 properties currently listed.

$1,085,000

“Another significant factor is that agents in this market are unlikely to risk losing a buyer by showing houses that are not comparatively well priced as to do so may cost them a potential sale and lose the confidence of the buyer.” “Like buyers, agents are naturally going to focus on those properties that are priced to sell and are also tending to get closer to the asking price on these properties,” he said. ■

TOP PROPERTY TIPS FOR TODAY YOUR backyard makes a statement about your home, but gardens can sometimes be left to fall by the wayside when it comes to making improvements to a property. Maintaining outdoor areas to ensure they are well presented will not only make a house more appealing to prospective buyers, but offer a space to enjoy alfresco entertaining. Here are a few tips from gardening and landscaping professionals on how to improve a backyard. 1. Consider installing one or more raised garden beds. They can be planned to occupy any available space and used to grow your own organic herbs and vegetables. Raised garden beds can be made from limestone blocks, timber sleepers or corrugated iron. A specially blended garden soil is available to fill them. Gardeners Direct offer a big range of raised garden beds, suitable soil and the organic products for the entire project which can all be delivered to your home. Phil Redding, managing director, Gardeners Direct 2. Water is essential to your garden. To get the best from your garden, make sure to fertilise every change of season. Phil Kavenagh, owner, Botanic Lawns and Landscaping 3. A general tidy-up is always effective. Pruning and trimming your hedges and flowers, mulching garden beds and simple things like pressure-cleaning paving areas can spruce the area up. Planting colourful flowers and plants can also fill empty spaces and improve the overall look of your garden. Lawrence Ferrari, director, Bayside Grasshoppers Landscape Design and Construction 4. The most important thing is soil improvement. If your plants are worth $5 then your soil should be worth $10. Amanda Lyndon-James, owner, Platinum Landscaping 5. It is a good time to spray your gardens to protect lawns from clover, winter grass and other weeds. I recommend Weed & Feed Lawns. You should also make sure your reticulation is turned off for winter. Tom Phillips, maintenance supervisor, Martin Cuthbert Landscapes

A GEM BEHIND THE WALL

SUPERB SUBI LOCATION

This stunning home is truly a hidden treasure. Behind the wall lies a beautiful 1950’s residence with polished floorboards, a recently renovated kitchen and bi-fold doors that lead out to an entertainment deck overlooking the tranquil reticulated gardens.

In an enviable Subiaco location, this recently renovated 3 bedroom 2 bathroom home is definitely worth a look. With two living areas, a sizeable backyard, front and side courtyards, reverse cycle air-conditioning this home is perfect for young families.

121/2

0421 383 089 113 Claremont Crescent, Swanbourne WA 6010 Office: 9284 6777 www.altusrealestate.com.au

SUBIACO David Fear

fr $950,000

0403 052 222 113 Claremont Crescent, Swanbourne WA 6010 Office: 9284 6777 www.altusrealestate.com.au

NEWS

Guide for borrowers Mortgage man has a wealth of experience to call on when contemplating a home purchase, ANDREW GREGORY reports MORTGAGE Advice Plus director Gavin Cox brings a wealth of experience to the table when guiding his clients through the financial maze of buying a property. The job title of mortgage broker does little justice to Gavin, who has an extensive knowledge of mortgage finance gained from 11 years working in the lending department of BankWest. He said this experience in the banking sector had drummed the “Captain Conservative” approach into his business ethic, enabling him to steer his clients well clear of any financial grey areas. Mr Cox told Residential he spent a lot of time educating would-be borrowers on the formulas and principles that guide lending institutions when they assess mortgage applications. “The reason why I show customers how affordability is worked out is that it gives

LO C AT I O N Set among the beautiful parklands and river surrounds of East Perth, Verde offers true inner-city convenience. Just steps from the café strip, it’s just 1500 metres to the shopping, theatres, restaurants and galleries of Perth’s CBD.

them a bit of an understanding of whether they are ‘maxing’ themselves out or not,” he said. “It is important to realise the difference between the sums of money that some institutions will lend and the amount that a borrower can afford to repay each week, fortnight or month.” Mr Cox believes the sub-prime crisis and credit crunch would not harm a typical person’s chances of securing finance for a home or investment property. “I don’t necessarily think it will affect the average borrower with a full-time job, because the average borrower is what the bank wants,” he said. After five years running a mortgage broking business in Melbourne, Mr Cox now appreciates that Perth residents have a better range of options when they choose to buy, compared with the Victorian capital. “The big thing over there is the added pressure on purchases,” he said, “having to go to auction more often than not, with no conditions, usually no building report and an expectation of a 10 per cent deposit. “It is a lot more purchaser-friendly over here. Buyers can make an offer for a property on their own terms.” ■

Upbeat on downturns KEYSTART chief executive Ivor Byrde will explore the effects of rising interest rates, falling property prices and the tightening financial market on the property development industry at an Urban Development Institute of Australia lunch meeting next week. Mr Byrde, who runs the WA Government’s affordable housing initiative, will speak on the movement of purchasers away from non-bank lenders to traditional sources of housing finance. Satterley Property Group chief executive Nigel Satterley will explain how the market has reacted to downturns in the past. The boss of WA’s biggest independent property firm will reveal how long the industry took to recover from similar downturns in the past, and share his lessons in survival from three decades in the industry. The institute’s Affordability: Getting the Money event will be in the grand ballroom of the Burswood Entertainment Complex on June 19 from noon. Single tickets cost $95 for UDIA members and $100 for non-members, with tables of eight available for $730 and tables of 10 for $900. Contact the UDIA’s WA branch on 9321 1101 or visit www.udiawa.com.au for further details. ■

NEW RELEASE: LIMITED OFF-THE-PLAN OPPORTUNITY

LIFESTYLE Verde provides comfort, space and security, as well as an on-site pool and gymnasium. G R E E N I N I T I AT I V E S Verde incorporates a range of money-saving, earth-friendly sustainability initiatives. HILLAM ARCHITECTS Conceived by award-winning architect David Hillam, Verde combines intelligent design with unique style. LIMITED RELEASE Choice of two - and three bedroom apartments, priced from $780 K to $1.24 M . Secure yours now – construction commencing soon.

Go green at Verde, and enjoy eco-friendly, sustainable, y living g. inner-city living.

apartments verde70.com.au 70 Wittenoom Street East Perth

Miller Group Real Estate 1, 31 Hood Street Subiaco WA 6008

Dee Seed Real Estate 41 Broadway Nedlands WA 6009

Harcourts Central 182 Bennett Street East Perth WA 6004

Jessica Miller T (08) 9388 0112 F (08) 9388 0114 M 0414 748 175

David Arnold T (08) 9386 6777 F (08) 9386 6697 M 0413 610 570

John Lagdon T (08) 9268 9088 F (08) 9268 9099 M 0411 080 999

jessica@millergroupre.com.au

david@deeseed.com.au

john.lagdon@harcourtscentral.com.au

www.millergroupre.com.au

www.deeseed.com

www.harcourtscentral.com.au

10/10

is our median score. How do we know? Because we listen.

113 Claremont Crescent, Swanbourne WA 6010 Office: 9284 6777 www.altusrealestate.com.au

O U R AREA

An older suburb, there is much to recommend West Leederville, reports AMANDA RANKIN

West Leederville ALTHOUGH known informally by the name for many years, West Leederville was only officially gazetted as a suburb in 1998. It was originally founded by the sale and subdivision of the estate of William Leeder from 1891. Most of West Leederville was well established by 1925 and many of the original residences still stand, lovingly renovated, alongside newer homes. AVERAGE HOUSE PRICE: West Leederville has enjoyed steady growth

and the median house price is $865k (Year to Dec 2007). ON SALE NOW: With glorious views of Lake Monger, a four bedroom, two bathroom 1970s home is on sale for $3.99m. The hefty price tag is due to the land, a whopping 1769sqm of it, zoned Residential 30 and with the potential to be developed into five dwellings. In Northwood Street a beautifully renovated and extended federation home is on the market with a starting price of $1.35m. While the front

maintains many of the original features, the two-storey back extension has a high 'wow' factor with white polished concrete floors and sleek, modern finishes. DEMOGRAPHICS: West Leederville has about 3500 residents with an average age of 37 years. The median weekly household income is $1265 and the median monthly mortgage repayment is $1700. The average weekly rent is $190 and 39 per cent of homes are being rented. Homes are fully

owned by 29 per cent and 32 per cent are being purchased. SCHOOLS: West Leederville Primary School. PARKS: Although officially in the suburb of Wembley, Lake Monger Reserve is within walking distance of West Leederville. Tiny Cowden Park offers a peaceful spot of green. RETAIIL: The newly-built Coles in Cambridge shopping centre has given West Leederville locals easy access to a major supermarket, medical practitioners and retail outlets. DINING: Luckily the eating spots and night-life of Subiaco and Leederville are close by as West Leederville is not a mecca for fine dining. PUBLIC TRANSPORT: Until the 1950s, a tramline ran down Woolwich Street, one of the steepest tramlines in the city. Today the suburb is serviced by buses along Cambridge Street and by the Leederville train station. LOCAL ATTRACTIONS: In June 2007 local residents started a community garden on Cambridge Street near the bowling club. The garden provides locals with an opportunity to grow fresh food in a pesticide-free environment and be part of a community-building experience. There are garden allotments for rent and also a communal garden space, giving people who may not have a garden the chance to experience the health benefits of growing greens.

FOR SALE DALKEITH

$3,900,000

KEEN VENDOR - REDUCED BY 5% TO SELL! s 12 yo home on 878sqm block s 4 bedrooms, 4 bathrooms + study s Master bedroom with 2 WIRâ&#x20AC;&#x2122;s, spa ensuite, balcony and retreat s Formal lounge & dining room s Large second lounge upstairs

s s s s s s

Gourmet kitchen/family/meals area Overlooks Nedlands golf course New pool with glass safety fence Reticulated garden from bore Electronic vehicle and pedestrian gates Double remote garage

Gordon Davies Pager 9480 9385 www.gdre.com.au

REVIEWS 6

HILLARYS OFFERS FROM $5.85 MILLION

4 MERANDA COURT

FEATURES Guest bedroom includes kitchen, bathroom and spa; large office with American oak timber cupboards, dedicated theatre room, large gym with bathroom; 2 adjoining gas-heated pools; French, climate-controlled wine cellar, Swedish sauna; Monitored alarm system including TV cameras, fully wired house audio system AGENT Altitude Real Estate - Subiaco CONTACT Team Tonich on 9388 3911

Take a dive into the lap of luxury The builders and developers took a hands-on approach with the construction of this mansion. By CASSANDRA DE WIND meticulous planning, the business researched intricate fixtures and fittings from both local and international sources to complete the residence to the highest degree of excellence. Panoramic ocean views, framed by palm trees, are enjoyed from the front of the property. One of the main highlights through the home is the climate-controlled undercroft wine cellar, which has handcrafted wrought iron gates. Other standout features in the undercroft area include a gymnasium, bathroom, studio

and a lift. A grand entrance into the foyer combines materials of marble, stone and ceramic together, providing a feature centre point to the house. Impressive living areas display elaborately finished cornices with gold trimming and ornately furnished ceilings. Window treatments add a classical touch to these lavish areas. Each of the bedrooms includes built-in wardrobes and an ensuite, and the guest bedroom is self-sufficient with its own

MAYLANDS - ONLY 8 LEFT

NORTH BEACH

Be Part of the New Evolving Maylands 3 BED, 2 BATH TOWNHOUSE Brand new architecturally designed 2 storey strata titled townhouses. Main bdrm/ensuite/powder room downstairs. 2 dble bdrms, 1 bathroom upstairs. Living/dining opens onto alfresco courtyard. Caesar stone benchtops, European appliances, quality ﬂoor coverings, light ﬁttings, landscaped and reticulated gardens.

500 METRES TO THE BEACH - BRAND NEW 3 BED, 2 BATH TOWNHOUSE Open plan living opening to sun ﬁlled northern c/yard, upper living area, brilliant ﬁt-out and European appliances, ducted air con, double lock-up gge and sep store room. Walking distance to shopping centre and beach. Lifestyle and investment opportunity.

Marg Henderson 0417 957 191

9388 3333

kitchen. Fitted with the latest technologies in heating, lighting and cleaning, the two adjoining swimming pools include spas and exhibit resort-style quality. The structure of these pools reflects the alfresco areas well, which incorporate cooking, dining and Swedish-styled sauna facilities. The residence is fitted with high-end electrical equipment, wiring and lighting controls. A comprehensive security system adds to the calibre of the home.

$950,000 SUBIACO

Lyn 0418 932 946

$1,375M

PREMIUM PRECINCT A host of period charm with a spacious modern kitchen and family room under glass atrium extension. 3 double beds, 2 bath, classic brick & iron character Gloster Street home of generous proportions. Timber ﬂoors, heritage ﬁreplace, ducted aircon, terraced garden with mature trees. Garage plus parking for 2 cars off ROW. Lyn Sedgman 0418 932 946

CENTRAL ESTATE AGENTS

1045351.08

A MIXTURE of European influences and architectural design detail this sumptuous seaside residence, which is reminiscent of a luxurious boutique hotel. Featured in the Building & Design Yearbook in 2008, the property represents a perfect interpretation of opulent living on an elevated coastal block. Builders and developers Euro Form Constructions decided to take a hands-on approach towards the construction of the home. Renowned for their quality and

REVIEWS

Something different in family living

$1,695,000

SUBIACO 56 PRICE STREET

This home exudes style, reports JANE EVANS THE interior of this Subiaco corner residence exudes sophistication, elegance and class. A grand entry hall sets the tone for the classic and spacious family home with a formal lounge to the right. The lounge features travertine flooring, a built-in feature fireplace and windows overlooking the quiet street. Steps lead down to the free-flowing dining and kitchen area, which opens out to a

AGENT Dee Seed Real Estate CONTACT Peter J Turner, 0412 912 612 or 9386 6777

spacious north-east facing alfresco courtyard with a water feature, ideal for entertaining for up to 30 guests. A kitchen and recessed laundry area provide easy access to the big double remote garage with entry from the rear. The kitchen features granite Caesarstone bench tops and stainless steel appliances. A powder room off the dining area has floor to ceiling porcelain tiling. The home is just over three years old and

was owner-built. The owner said the corner block was chosen for its northeast facing position allowing plenty of light in, one of the most important features of the home. A carpeted staircase leads to the second level where a centrally positioned informal entertainment or study area provides a feeling of spaciousness. The owner is particularly fond of this room and described it as a “relaxing cocoon for easy living”.

Sliding doors open out to a generous balcony with views over the street. To the right of this area, the big master suite features a walk-in robe and ensuite complete with a corner spa and double vanity. At the other end, two generously sized minor bedrooms share a well-appointed second bathroom. The property has reverse cycle airconditioning and an alarm system. ■

Now everyone can live the good life. If living the good life by the ocean’s edge seems like a distant dream, take a closer look at the new homesites at Cambridge Private Estate Busselton. With the white sands and pristine blue waters of Busselton’s beaches just 300 metres away, you’ll think you’re in paradise every day. But with homesites starting at just $245,000 you can stop dreaming and start living the good life now. Cambridge is a quality residential estate, close to the beach, town, schools and all the attractions of the south-west.

Where everyone can live the good life.

Call Ron Cook 0413 006 000 www.cambridgeestate.com.au

STAGE 4 NOW SELLING www.cambridgeestate.com.au

WH 32131

9388 3911 www.altitudere.com.au

VIP Seat!!!

Best Buy!

The FRONT ROW is always hard to get!!

This property MUST BE SOLD!!

This neat home gives you the choice to livein, invest or build your OCEAN FRONT dream.

Seize the opportunity to secure your CHUNK of Blue Chip soil at below market price. Your choice is to live in, rent out or build your dream home.

TEAM TONICH 0409 517 001

68 Chipping Road, City Beach From $2.45 Million

Golden Soil ! * LD1 day O S *In only 2

JULIE PEDULLA 0419 440 093

TEAM TONICH 0409 517 001

You choose the destiny of this 721sqm site. Renovate or detonate! JUST DON’T BE LATE!!

28 Kylie Street, Wembley Downs From $1.27 Million

DEAN BRADLEY 0411 110 779

Inner city...

Green Title

...with character and charm!

Stunning two storey home...

This renovated home is situated just minutes from Leederville’s exciting cafes, restaurants, bars & clubs!

... boasting open plan living, secure off street parking and much more.

TEAM TONICH 0409 517 001

8 Goonang Road, City Beach From $1.599 Million

... block and character home.

with inviting family home.

Blue Chip...

1012sqm duplex block

18 Leicester Street, Leederville From $639,000

243 Jersey Street, Wembley $790,000 - $830,000

TEAM TONICH 0409 517 001

140 Carr Street, West Perth From $529,000

PROPERTIES FOR SALE WEMBLEY

11B RESERVE STREET

CABANA WITH THERAPEUTIC SPA AT REAR A DOUBLE-door entry entices you inside this four-bedroom Wembley home. Features include blackbutt timber flooring and a kitchen with Corian benchtops, lots of pot drawers and stainless-steel appliances. There is direct access to an alfresco outdoor kitchen under the main roof. The backyard has a freestanding cabana, housing a heated therapeutic spa, surrounded by landscaped gardens. A fourth bedroom and a bathroom are downstairs as well as the open-plan informal living area. Upstairs are a study, the main bedroom and two more bedrooms.

$1,575,000

AGENT The Property Exchange CONTACT Jillian Jeffery, 0409 301 654 or 9388 3988

MOUNT CLAREMONT

5 NORFOLK RISE

LOVELY VIEWS OF VALLEY FROM BIG BLOCK SURROUNDED by landscaped gardens, this split-level family home is on a 1100sqm block in a cul-de-sac. It offers lovely views of the valley. Built in 1992, the house was recently renovated to include a new kitchen and bathroom. The four bedrooms are double sized, and there is a study. The central kitchen overlooks the openplan family and meals area which lead out to an alfresco patio. There is a separate teenage retreat with a study area.

WEST PERTH

140 CARR STREET

SUBIACO

183 PARK STREET

FROM $2,000,000

AGENT Abel McGrath CONTACT Adrian Abel or Simon McGrath, 0410 564 304 or 0418 918 678 or 9286 3655

NORTH PERTH

11B SELDON STREET 3

$1,159,000 AGENT Billyard Property CONTACT Peter Wheeler, 0418 242 240 or 9201 2998

THE private courtyard of this home is accessible from inside or the single carport. FROM $529,000 The kitchen has overhead AGENT Altitude Real Estate cupboards and a servery CONTACT Team Tonich, hutch into the meals area. 0409 517 001 or All bedrooms are upstairs 9388 3911 and have built-in-robes.

NATURAL light floods through this inviting terrace home in one of the best $1,200,000 streets in Subiaco. AGENT Property People It has a formal lounge, and CONTACT Lorraine Thorpe, the open-plan family and 0414 593 360 or 9208 dining room opens to an 1999 entertaining area.

CLAREMONT

SHENTON PARK

23 THOMSON STREET

THIS stylish two-storey home is in a tranquil location close to the river and would $1,850,000 be perfect for entertaining. AGENT Mack Hall & Associates It has high ceilings, lightCONTACT Linda Sullivan, flooded rooms and honey0439 926 688 coloured wooden floors and or 9286 5555 doors.

THIS residence, which overlooks a park, has a theatre room, a central atrium, and an open-plan kitchen and family area. It has split-system airconditioning, smart wiring, ducted valet vacuum system and security.

29 HENRY STREET

$1,250,000 AGENT Altus Real Estate CONTACT Kaye Maskiell, 0418 908 934 or 9284 6777

BEHIND a brick and wrought iron front fence, this impressive home has cathedral-style high ceilings, a modern lounge and an openplan living and kitchen area. Upstairs, the main bedroom has a big balcony.

COTTESLOE

$4,000,000 AGENT Mack Hall & Associates CONTACT Frank Torre, 9286 5555

BRYAN WAY

THIS Overman and Zuideveld-designed townhouse is close to the main beach and has sweeping ocean views. The ground floor has a central courtyard. All living areas have teak floors.

REVIEWS

A modern drawcard in Nedlands It has a treed outlook and glimpses of the CBD, Kings Park. By ROMENA MANNING

$1,575,000

NEDLANDS 32 LUPIN HILL GROVE AGENT The Property Exchange CONTACT Niki Peinke, 9388 3988 or 0411 428 117

A CHOICE of living areas and a great location are two things the owner of this new house counts as drawcards for the property. Developers made the most of the old Hollywood High School site, creating a handsome streetscape near parklands, including this wellconstructed three-bedroom property. Elevated from the road, it has a small courtyard at the front, with a treed outlook and glimpses to the CBD. A balcony upstairs provides more extensive city views and views to Kings Park. Owner Jonathan Chow said he liked the way the main living room and front yard connected, opening the indoor

space. This room incorporates a dining area, with a double-height void overhead that has double automaticopening skylights. Mr Chow said he loved that there was a choice of living areas, with a tiled family and kitchen area at the back easily separable from front areas. The kitchen has unique stone benchtops, double underslung sinks, glass splashbacks, integrated dishwasher, Miele appliances, gloss white drawers and feature timber grain finish on island bench cabinetry. Upstairs a mezzanine floor overlooks the lounge and dining room, and opens at one side to a main bedroom and to minor bedrooms at the other.

The big main bedroom has smoked glass built-in wardrobes around an entrance to its ensuite, which has double semi-recessed basins and a deep bath with park views. A southerly courtyard opens via long sliding doors from the family room and has stone garden features and a planter box. An industrial-style staircase leads to a separate studio at the back, on top of a double garage, which has a kitchenette matching the main kitchen, a contemporary ensuite and airconditioning. The garage and studio are accessible from a back lane. The house is on a 232sqm block. â&#x2013;

www.deeseed.com Burswood

South Perth 70-72 Goodwood

4/17 Hardy Street

From $1,000,000 Burswood Heights Development

$1,200,000

High location with views over Burswood Peninsula, golf course, Swan River and Perth City. Spacious 3 bedroom designs from 176m to 221m of living area. Balconies and double garages in addition. Each townhouse has comtempory lines with top fitout and stylish colour schemes.

Hot & new to market subpenthouse apartment spread over 2 floors exuding style and comfort only a stroll to the Mends St Cafes and Bars. City & River Views, secure complex with pool, 98sqm of outdoor living spread over 4 balconies and 171sqm of internal living.

Magnificent Manhattan

Sam & Joanne (08) 9386 6777

Mark Hales 0415 915 967

East Perth

West Perth 18 Wittenoom Street

38/4 Dehli Street

$1,649,000 Supreme Quality / Perfect Size

$780,000

Quality built and proudly presented home on sizable 234sqm block with high ceilings and elongated windows to absorb the winter sun. Features 3 bed, 2 bath, study, functional balconies, private rear terrace and magnificent walk in wine cellar. This home has the lot!

Spacious 3 bedroom, 2 bathroom apartment in secure complex. Fully furnished and equipped, stone bench tops, stainless steel appliances & 3 split system airconditioning units!! Currently tenanted to 17/01/09. Call for your private viewing today!

Executive Living

David Arnold 0413 610 570

Kristine Carr 0405 482 894

Why compromise? 41 Broadway, Nedlands WA 6009

Phone: (08) 9386 6777

Fax: (08) 9386 6697

Email: deeseed@deeseed.com.au

REVIEWS

SATURDAY, JUNE 14 AT 11AM ON SITE

DALKEITH 24 DAVIES ROAD AGENT Mack Hall & Associates CONTACT Peter Burns, 9286 5555 VIEW Saturdays and Wednesdays 10:30-11:30am or by appointment

Residence offers the best of two worlds The house is sprawled over a big double block in a dress circle location. By COURTNEY NOTTE A COMBINATION of classical and French style interior decor adds grandeur and warmth to the central living areas of this home. A sophisticated colour palette and ornate features complement the elegant residence, to which the owners have paid meticulous attention to detail. Offering unrivalled opulence and style, the house is sprawled over a 1753sqm double block with a 39 metre frontage. The imposing facade of the colonial style home casts an impressive shadow. Expansive gardens and entertainment areas surround the home, evoking feelings of a stately

country estate. Mature trees extend along the length of the perimeter fence, creating a shady canopy over the front yard and infusing the garden with colour. Definitive character features extend from front to back. Wide floorboards and ornate fretwork under the return verandah give a subtle hint at the prominence of character traits within, such as high, decorative ceilings with ornate cornices and generously proportioned rooms. Hand-painted stripes and a dado rail adorn the lower half of the walls in the entry vestibule, which branches off to the formal living areas and luxurious master suite.

Along with the informal living areas, the lounge and dining rooms have been positioned to take advantage of the northfacing courtyard, with a vine-covered pergola next to a pool with glass safety fencing, and a water feature with tiled backing. For ease of entertaining, a decked summerhouse with low lattice privacy screens is situated in a corner that overlooks both the pool and a large grassed area with a cobbled path and circular-hedged garden feature. Textured walls, a fireplace and handmade tiles on the floor and kitchen benches define the kitchen, family room and casual meals

area. The children’s bedrooms are in a wing at the back of the house, central to which is a carpeted activity room with French doors to the verandah. Through a dressing room with slimline floor-to-ceiling cupboards is a modern ensuite bathroom with a contemporary dual vanity and the main bedroom, with extra hisand-hers built-in wardrobes and french doors to the vanity. One minor bedroom connects to a semiensuite. There is also an outdoor workshop or studio with roller door access to the double carport. ■

Two-storey townhouse encapsulates the style and contemporary living of today’s lifestyle A MODERN facade hints at the stylish decor to be found inside this stylishly appointed townhouse. Situated on a rear of a 470sqm block, it offers 255sqm of internal living space. Double doors, with frosted glass insets, open to a foyer with polished wood floors. They continue through the living areas on the ground floor. High ceilings and a light, bright

colour scheme emphasise the spaciousness of the open-plan living zone, with glass doors to a paved central courtyard for outdoor entertaining. A shade sail protects the alfresco area, which has a water feature and limestone benches with timber slatted seats. A theatre room with built-in cabinetry has two-way access from the main living areas. ■

FROM $799,000

KARRINYUP A/54 FRANCIS AVENUE AGENT Altitude Real Estate CONTACT Team Tonich, 9388 3911

24 Davies Road, Dalkeith

Gracious Family Estate An elegant Colonial style home positioned across a rare 1,753sqm double block with 39 metre frontage.

Auction Saturday 14th June, 2008 On Site at 11am

Inspections Saturdays & Wednesdays 10.30 to 11.30am

An imposing property, with a combination of classical and French interiors complemented by a sophisticated palette of colours & superior ornate features throughout. Expansive gardens and entertainment areas including summer house and swimming pool. A striking family home comprising 5 bedrooms, 3 bathrooms, formal lounge, formal dining, kitchen, informal dining and family, activities room, workshop, storage shed and double carport.

Linda Sullivan M: 0439 926 688

Peter Burns F: 9286 5566

M: 0418 925 012 1046378.10

T: 9286 5555

Q Air-conditioned villa for over 55s in a delightful fully landscaped setting Q Comprises two bedrooms + 3rd bedroom/ sunroom/study, large living dining area, carport and enclosed sunroom Q Facilities include pool, library, dining room, bowling green and community centre Q Close to public transport, golf course, parks, ocean and convenient shopping. Suitable for owner occupiers or investors

Auction on site 10.30am Saturday 28th June 40/80 Mooro Drive Mount Claremont

For inspection and details contact

9225 4300

CONTEMPO

SHANGRI - LA

NOW FOR SALE OPEN SAT + SUN 2-4PM 65 VERDUN ST, NEDLANDS.

OPENING SOON IN DOUBLEVIEW.

CLAREMONT 9/54 Gugeri St 1 bed, 1 bath $350k Unit Airey & Associates 0407 659 599 22 Davies Rd 4 bed, 2 bath $1.325m House Mack Hall & Associates 0419 831 393 COTTESLOE 34 Railway St 3 bed, 1 bath $1.25m House WA Prestige Properties 0404 316 262 FLOREAT 104 Birkdale St 3 bed, 1 bath $890k House Property Connection WA 0402 347 853 8 Crosby St 2 bed, 1 bath $1.25m House Acton North 0418 928 040 3 Mead Gr 3 bed, 3 bath $825k House Bexley's Real Estate 0411 694 996 MOSMAN PARK 7/6 Albert St 2 bed, 1 bath from $369k Unit Altitude Real Estate 0414 363 068 4/6 Albert St 2 bed, 1 bath From

$385K Unit Altitude Real Estate 0414 363 068 NEDLANDS 1 Loneragan St n/a $939k Block Airey & Associates 0410 215 283 32 Lupin Hill Grove 4 bed, 3 bath from $1.65m House The Property Exchange 0411 428 117 SHENTON PARK 5 Evans St 4 bed, 2 bath from $2m House The Property Exchange 0411 524 211 SUBIACO 22 Price St 4 bed, 3 bath $1.85m House Paxton Hoad 0419 195 873 22 Loretto St 3 bed, 1 bath $749k Paxton Hoad 9485 763 73/100 Subiaco Rd 1 bed, 1 bath $264k Paxton Hoad 0419 195 873 1 Tipperary Mw 3 bed, 2 bath $1.75m House The Property Exchange 0411 524 211 SWANBOURNE 262 Marine Pde Auction Land Mack Hall & Associates 0417 744 600 WEMBLEY 97a Pangbourne St from $675k Land Property Connection WA 0417 969 700 47 Herdsman Pde 2 bed, 1 bath $239k Unit Bexleys Real Estate 0419 944 337

47 McKenzie St 4 bed, 2 bath $1.39m House Bexleys Real Estate 0417 986 589 55 Keane St 3 bed, 2 bath $1.25m House Bexleys Real Estate 0417 986 589 14/54 Moondine Dr 2 bed, 1 bath $295k Unit WA Prestige Properties 0411 617 345 125 Herdsman Pde 2 bed, 1 bath $310k-$315k Unit Bexleys Real Estate 0419 944 337 27/409 Cambridge St 1 bed, 1 bath $212k Unit Property People 0414 593 360 WEST LEEDERVILLE 5A Joseph St 3 bed, 2 bath from $1.1m Townhouse Bexleys Real Estate 0417 944 047 10a Joseph St 4 bed, 2 bath $1.375m House The Property Exchange 0409 301 654 8/145 Cambridge St 2 bed, 1 bath $349k Apartment Property People Floreat 0407 950 588 WEST PERTH 10 Florence Pl 1 bed, 1 bath $680k-$720k Apartment Altitude Real Estate 0419 440 093 26a Cleaver St 3 bed, 3 bath from $840k House Property People 0438 933 634 140 Carr St 3 bed, 1 bath from $529k Townhouse Altitude Real Estate 0409 517 001

TERRAZZO NOW FOR SALE OPENING JULY IN FLOREAT.

THE NAME OSWALD IS SYNONYMOUS WITH STYLE. IT IS A NAME THAT MIRRORS THE ASPIRATIONS OF A SELECT FEW. A NAME THE GOES BEYOND SIMPLY BEING A BUILDER OF FINE HOMES. IT IS A CULTURE. IF YOU WANT A HOME DESIGNED AND BUILT WITH AN UNCOMPROMISING ATTENTION TO DETAIL, BE IT SINGLE OR DOUBLE-STOREY, NARROW LOT, CONTEMPORARY OR TRADITIONAL, CALL 9231 4888 OR VISIT OSWALDHOMES.COM.AU

FOR DETAILS CALL PAULINE CARROLL 0404 646 464, MIKE McDONALD 0416 250 998 OR MARC MARUSCO 0422 269 630.

OSW306310

PRESTIGE OVER 55 VILLA IN MT CLAREMONT

CITY BEACH 24 Windarra Dr 6 bed, 6 bath $5m House WA Prestige Properties 0411 617 345 34 Boronia Cres 5 bed, 3 bath Expressions of Interest (EOI) House Chris Dee Prime Real Estate 0403 344 649

OSWALD STYLE-OSWALD SALE

AUCTION

JUST LISTED

9485 7637

Khaled Garman 0422 388 515

Josh Sumner 0408 055 359

laundry and a sizeable rear courtyard. Perfect for a first home buyer or astute investor as property has proven high rent returns.

ATTADALE $355,000 - $375,000 Situated in a small group, this t/house offers a spac lnge, separate

Michael Hoad

formal lounge with fireplace, modernised kitchen, renovated bthrm, polished Jarrah boards, ornate ceilings and a picket fence.

SUBIACO $999,000 Picture book pretty Jarrah weatherboard/iron cottage. Elegant

313 Rokeby Road, SUBIACO • 9381 9111 www.paxtonhoad.com.au

Carolena Boyd 0418 905 963

Peter Lawrance 0418 923 424

the ocean and marina offer a glittering backdrop from most rooms in this beautiful fully self contained apartment.

MANDURAH $649,000 Seashells Resort enjoys a fantastic location. Breathtaking views of

9485 7637

Spacious lounge and dining, reverse cycle air conditioning throughout, quiet loc, security parking and access on a 414sqm lot.

SUBIACO $879,000 Renovated brick/iron (new roof) 2 bedroom home with sleep out.

Michael Hoad

$1,110,000

Khaled Garman

0422 388 515

and a good size rear garden with access to right of way. This is your chance to invest and enjoy the Subi lifestyle.

appliances. Large formal lounge, amazing polished Jarrah floorboards throughout, high ornate ceilings, ducted reverse cycle air conditioning

This character home offers- 3 spacious double bedrooms and 2 bathrooms, a renovated kitchen with granite bench tops and European

SUBIACO

Real estate agents • Property managers • Auctioneers ‘Do business with the people doing the business’

9485 7637

internally on a 199sqm survey strata lot. Loads of northern light. Walk to all the features that Subiaco has to offer.

Paxton Hoad

9485 7637

Michael Hoad

0419 195 873

Marina Berzins

a prime ‘Old Subi’ location. Large living areas, fabulous north facing deck off bedroom 1, intimate courtyards , cross cut travertine floors,

SUBIACO $1,975,000 A spectacular reconstruction of a Subiaco landmark into a fashionable city home! Splendid finishes throughout and located in

Caesar stone tops in kitchen and laundry, marble in bathroom, European appliances and security entrance.

and more.

home theatre/games room, 4 generous bedrooms, 2 luxury bathrooms plus powder room, exceptional kitchen, double garaging,

SUBIACO $1,850,000 Stylish new tri-level home of excellent quality and superb finishes. This is an ideal entertainers’ home with fabulous living spaces,

$749,000

Very neat 3 bedroom townhouse in a great location near council gardens. Freshly painted externally, own street frontage, 104sqm

SUBIACO

REVIEWS

A grand plan at Subiaco An executive two-storey home takes in lake and park views from all aspects. By JANE EVANS

$2,150,000

SUBIACO 12 JUNIPER BANK WAY AGENT Ray White Centro CONTACT Trevor Neil, 6380 1212 or 0417 771 112

Gidgegannup, Western Australia 315 Reen Road

287 Hectares

In 170 years the biggest change to Maybrook Forest has gone unnoticed.

Barrabadeen Stud Your family’s lifestyle and investment future is assured! Water is the feature

AUCTION

• 40 Minutes from Perth. • 3 Key dams plus 2 spring fed brooks plus 1.2km Gidgegannup Brook. • Duplex designed homestead. Caretakers residence, two additional homes.

• 12 Stable John Silbert Victorian era designed complex. • International dressage arena. • A lifestyle investment with income from breeding, grazing or subdivision.

11am Sunday 22nd June 2008 On the property

John Garland 0418 923 347 Oĸce: (08) 9481 7157 www.johngarland.com.au

With m i n i ma l d i s tu rba nce to the e nvi ro n me nt, Mayb roo k Fores t Es tate i s fu l ly con nected to Du n s boroug h’s town water, power a nd telecom mu n ication s. The huge fores ted homes ites of fe r re s ide nt s a tru ly u n iq ue a nd tra nq u i l e nvi ro n me nt j u s t minutes from town. Th i s i s a n excl u s ive es tate of ju s t 28 pri s ti ne bu s h blocks, s ized from 4 0 0 0 m 2 to 9 9 98 m 2 .

Yours to discover. Seclusion and privacy, so close to town? At Maybrook Forest, you can have it all.

HOMESITES NOW SELLING

maybrook

forest

Ron Cook 0 413 0 0 6 0 0 0 or w w w.maybrook.com. au

WH32126

EUROPEAN style combined with space and practicality makes this executive Subi Centro home stand out. The owner-builder designed the home to capture lake and park views from all aspects. Balconies on both the upper and lower level are ideal for entertaining guests or simply taking in the peaceful surrounds of Subiaco Common. French oak flooring is featured both upstairs and downstairs throughout the living areas, with carpet to the bedrooms. At the centre of the home is a north facing limestone courtyard with sliding door access from three sides. A custom designed glass water feature

hangs from the fourth wall, creating a contemporary focal point. The bottom floor comprises formal lounge and dining as well as a family area and kitchen. Granite bench tops and splashback, stainless steel appliances and plenty of cupboards both overhead and below are just some of the kitchen’s features. There is a shopper’s access from the double automatic garage with room for up to four vehicles. A spiral staircase leads upstairs to another entertaining area and large balcony. A kitchenette on this level adds another dimension to entertaining, with easy access to the balcony and protected barbecue alcove. The kitchenette features a panoramic segmented window creating the illusion of being amidst the trees. Double doors lead through to a separate study, common bathroom and the three bedrooms. The master bedroom is large with a walkin robe and ensuite featuring double vanity basins and a corner spa bath. Italian tiling and marble has been used in both. Having lived in the home with his family for almost seven years, the owner builder had designed the home with practical and easy living in mind. ■

NEW HOMES Housing shortage could last another 10 years ANDREW GREGORY reports THE slump in the home building sector would likely cause a housing shortage lasting 10 years, or more, according to a new report on Australia’s residential building sector. Industry research company Macromonitor forecast another weak year for the sector in 200809, followed by a three-year upturn in residential building. But this forecast rise in

construction would barely keep pace with soaring demand, and the residential housing shortfall would persist for at least a decade, according to the company’s Australian Construction Outlook 2008 – Residential Building report. Report author Nigel Hatcher said two factors were likely to stop housing demand from being satisfied. “First, there will be long-lasting

NUMBER OF DWELLINGS - AUSTRALIA FORECASTS

200,000

UNDERLYING DEMAND

180,000 160,000 Current under building

140,000 120,000

SUPPLY (number of dwellings completed)

100,000 80,000 60,000

DWELLING STOCK SHORTAGE

40,000 20,000 0 00

2008

Source: ABS & Macromonitor

affordability problems, with interest rates expected to remain high, on average, through the economic cycle,” he said. “Secondly, there are supply constraints that would impose a ceiling on any upturn.” Macromonitor estimates that the annual number of home building starts had fallen by 20,000 since 2004, while underlying demand had risen by about 40,000. The report estimated a current shortfall 74,000 dwellings, expected to rise to more than100,000 dwellings a year during the next two years. “We expect the next downward movement in interest rates to occur in mid-2009, and we will then see a large release of previously pent-up demand for housing. We expect an upturn of close to 20 per cent over two years starting in 2009-10,” Mr Hatcher said. “This will finally see the level of building rise above underlying demand. But it is not expected to stay there for long, as the next downturn is expected to start in 2012-13.”

Rise in WA new home sales off a low base, but marginal decline in building approvals nationwide LATEST figures from the residential construction sector showed a rise in new home sales in Western Australia during April and a marginal slide in building approvals across the nation. The Housing Industry

Subiaco

Association said house sales fell 0.2 per cent across Australia in April, while non-house sales rose 2.4 per cent. WA bucked the trend by recording a 21.8 per cent increase in April, following a 4 per cent increase in March.

6 Allora Avenue

Ex Osward display home, tranquil outdoor entertainer’s retreat, top quality finishes, open plan dining/living, 4 brms, 3 bthrms, built in study area & fully equipped home theatre. Magnificent family home not to be missed. Sale $2,090,000 View By Appointment Susan Taylor 0417 771 112 6380 1212 rwsubi.com

Centro

Subiaco

But the association’s executive director John Dastlick said these increases came off a low base, recorded earlier in 2008. Figures showed that new home sales had stabilised in WA after 18 months of decline, thanks to exceptional land

and house packages coming on to the market. “The new home building sector was hit extremely hard in the March 2008 quarter. “Higher interest rates, fuel, and food bills made a further sizeable

62 Rossello Lane

Park and lake on your door step! Brand new contemporary classic. Creative and spacious over two levels plus a loft. 3 bedrooms, 2 bathrooms. Sensational! Sale $2,290,000 View By Appointment Susan Taylor 0417 771 112 6380 1212 rwsubi.com

Centro

Subiaco

dent in housing affordability,” Mr Dastlik said. “The subsequent flat outcome for new home sales throughout Australia in April provides the first evidence that these negative forces will remain throughout the June quarter.” ■

68 Coral Tree Avenue

Designer residence in quiet tree lined location. North facing, opposite small park, living areas open onto central courtyard, kitchen with granite bench tops, Tassi oak floors throughout lower level. Private and secure. Sale $1,650,000 View By Appointment Trevor Neil 0438 354 556 6380 1212 rwsubi.com

Centro

FORM

FUNCTION

Playing hide and seek in the kitchen DONNA COLEMAN discovers a trend is to ‘integrate’ and hide appliances neatly in the kitchen HAVE you found yourself walking through display homes lately and having the feeling that something is missing? There’s no cause for concern. It’s not missing – it is integrated! ‘Integrated’ is the latest buzz word in kitchens. Basically, it means that appliances and fittings that were so proudly displayed in the good old days are now neatly tucked away, so as to seem like elements of the kitchen design. Fully integrated appliances are hugely popular in Europe and we are starting to see a lot more of them here. Nedlands-based kitchen design company Kitchen Choice is one company making a big push into this. Kitchen designer Susanne Morphett said she has put together many kitchens using partial integration. “What’s popular now is integrated dishwashers and we are slowly starting to see appliances like microwaves, coffee machines and rangehoods becoming integrated too,” she said. “The biggest trend at the moment is integrated wine fridges – a lot of customers want a wine fridge included in their kitchen design. “Customers with smaller kitchens who are looking to maximise space are particularly interested in these kitchens as they look sleek, neat and more uniform,” Ms Morphett said. According to experts, hiding appliances behind panels to make them look like just another cupboard is the newest trend. One of the reasons people opt for

integration is to create a kitchen that looks more furniture-like than functional. In a time when kitchens are becoming more integrated into our living spaces – courtesy of open-plan layouts – kitchens need to be easy on the eye. Hiding appliances not only makes a kitchen look less functional, it also provides a more streamlined, luxurious appearance. Integrated appliances make a kitchen more aesthetically pleasing. Without the visual disruption caused by your fridge and dishwasher, a small kitchen can appear larger because it looks less cluttered.

The great thing about the integrating appliances trend is that it can be applied to most kitchens and most styles. Despite the fact that an integrated kitchen instantly makes the room look more

luxurious and expensive than it may be, it does not necessarily have to cost a lot more than your average kitchen. The thing to remember is that you will need to purchase what equates to extra

cupboard doors and cabinets to house your appliances. The next key thing to remember is that if you want an integrated kitchen, you may have to buy a particular appliance that has been designed for integration. While the number of manufacturers producing appliances is increasing, not all offer integrated models. Fridges and dishwashers are the most common appliances to be integrated, but sinks, microwaves, ovens and coffee machines are some of the newest wanting to play the hide and seek game. So while you might think applying this trend will save you cash because you can just make use of your old fridge, the truth is, you have to purchase appliances which have been designed for such use. It’s not as simple as sticking your existing fridge in a cupboard.■

Things to do around home...

When youâ&#x20AC;&#x2122;ve got a beach for a front yard, you tend to re-evaluate your priorities. To secure this irreplaceable opportunity call 1300 20 20 50 or visit www.cevue.com.au Whilst all details have been carefully prepared and are believed to be correct, no warranty can be given either expressly or implied by the vendors or their agents. Intending purchasers must rely on their own enquiries.Photographs and illustrations are for presentation purposes only and are indicative only. They should not be relied upon as an accurate representation of the final product. Specification may change at any time. CEV13957 Produced by www.totocommunications.com.au

BRIGHTON

BEACH

Cnr Brighton Rd & The Esplanade, Scarborough

Artistâ&#x20AC;&#x2122;s impression

The display suite is now open for the very ďŹ rst time. Just 45 limited-edition apartments created by internationally renowned architects Alex Popov and Associates. Boasting exceptional northwest views up to the pines of Cottesloe, this is your opportunity to enjoy the beauty of Leighton Beach every day.

Riverside priced from $1.6m. Beachfront priced from $3.7m. Make an appointment to visit our display suite today. Level 1 The Old Swan Brewery 173 Mounts Bay Road. Call Multiplex Living on 9483 0885 or register your interest at www.multiplexliving.com

Make an appointment to visit our display suite today. Call 9483 0885 www.multiplexliving.com

COASTAL

COUNTRY

Holiday apartments offer oceans of luxury 4

$1,925,000 EACH

DUNSBOROUGH LOT 4 & 5, 700 CAVES ROAD AGENT Stocker Preston CONTACT Louis De Chiera on 9756 8888 or 0418 909 899

Choice of two stylish properties with breathtaking views, BY ROMENA MANNING TAKE your choice of two new luxurious holiday apartments with panoramic views of the ocean. A Zorzi Buildersâ&#x20AC;&#x2122; construction, it has spacious living areas and 350sqm of total living space inside and out. Award-winning architects WA Overman and Zuideveld have incorporated stylish, timeless decor with open spaces on three levels.

Outside, a kitchen with timber cabinetry and built-in barbecue and pizza oven opens to manicured, landscaped gardens. A kitchen on the bottom level opens to dining and family areas, while long glass panes along an outer lounge room wall link it with a terrace and supplies this space with extensive ocean views. Ownership of these apartments provide access to facilities such as a floodlit tennis

court, play area, gym, barbecue area and a swimming pool and spa. There are four bedrooms, each with a built-in or walk-in wardrobe, three bathrooms and a guest powder room. Attractive from the outside, a mixture of materials, glass and lighting give this residence high aesthetic appeal. These two prestigious properties offer a holiday lifestyle, walking distance from the ocean. â&#x2013;

BUSHLAND SETTING CLOSE TO YALLINGUP

FRASER REAL ESTATE SUITE 1, 236 NATURALISTE TERRACE DUNSBOROUGH WA 6281 BRAD FRASER 0418 932 029 Web: www.fraserrealestate.com.au

1072475.01

Almost 6 acres (2.34ha) of soft sumptuous bush. This large pod styled home features 4 exquisite large bedrooms and two living areas. Reverse cycle air-conditioning creates an ambient all round temperature inside the home. Large bi-fold doors open to reveal the large entertaining deck that looks north over private bushland setting. Large 60m2 shed. This home has many unusual features perfect for the down south feel... Call today as owners are keen to sell.

COASTAL & COUNTRY

$1.295M

YALLINGUP

6 BAYFIELD COURT

AGENT JMW Real Estate CONTACT Darryl Sorgiovanni, 0427 767 147 or 9756 8800

A bolthole, far from the madding crowd Nestled in natural bushland, the home takes advantage of winter sun. By LUCY RICKARD stretching around the fully glassed area. Large viewing windows take advantage of the positioning of the home, nestled in the natural bushland. The open-plan living area has the afternoon sun filtering in the north-facing windows, while a retractable roof allows for the winter sun to come in when the house

BUILT by Jarrod Holst in 2000, this home has been cleverly designed to capture the best of its surrounds. Set around a central open garden with a feature pond and skirted by a decked walkway, the home has a peaceful ambience. The living areas contain the central pond, with the kitchen, lounge and dining rooms

cools. The kitchen features stainless steel appliances, with granite benches. Polished jarrah floors are a highlight of the home, flowing through the living areas to the bedrooms. Separated from the central living area by an undercover breezeway, the bedrooms are

set at the opposite end of the home. The home has four double sized bedrooms and one bathroom, which features a unique deep spa, from which you could peek out and look at the bush over the frosted glass. Adjacent to the dining room, a summer entertaining deck overlooks some of the bush block. â&#x2013;

A C TO N DUNSBOROUGH

$1,195,000 3

YALLINGUP RETREAT

Positioned on a beautiful 2.5 acre parkland block in sought after Yallingup Hills, this lovely pavilion style home features a modern, contempory finish. The free flowing 3 bedroom, 2 bathroom home with study is constructed of double brick render. A fully powered shed with verandah has been fitted out with bathroom and small kitchenette great for visiting family and friends. Surrounding the elevated property are picturesque views of vines as well as beautiful bushland reserve which features a lovely winter creek. Simply stroll to Yallingup Woodfired Bakery for fresh bread or Petra Olives for coffee, lunch or breakfast. Surrounded by nature in this outstanding location you will enjoy peaceful country ambience in a modern home with the convenience of being close to Dunsborough township as well as Smiths and Yallingup beaches.

JULIE FAIRCLOUGH 0403 177 977 julie.fairclough@acton.com.au

INTERNET ID# 142585

18 CHAPMAN STREET, DUNSBOROUGH

$1,595,000

EASY LIVING LUXURY IN OLD DUNSBOROUGH

Designed for easy living, you will love living in this home permanently or using it as your down south holiday home. A great investment choice with excellent rental return, just ask and we can give you an expected income return. Great home for a family or a baby boomers delight. The modern double storey, brick rendered and Colorbond home features three spacious living areas, outdoor entertaining areas at the rear and off the kitchen and dining areas, four large double bedrooms, two luxury bathrooms and double lock up garage. The home has superb luxury fittings, appliances and furnishings throughout. An Old Dunsborough address and only a few minutes walk to the beach. A superb investment choice for capital growth and rental income.

JULIE FAIRCLOUGH 0403 177 977 julie.fairclough@acton.com.au

ACTON DUNSBOROUGH - SHOP 3 DUNSBOROUGH VILLAGE PH: 9755 3555 www.actondunsborough.com.au

104167810

115 SHEOAK DRIVE, YALLINGUP

INTERNET ID# 145478

'XQVERURXJK Â&#x2021; <DOOLQJXS Â&#x2021; (DJOH %D\ Â&#x2021; %XVVHOWRQ 6WXQQLQJ (DJOH %D\ Live the life of luxury, far away from the hustle & bustle of city life in this brand new luxurious 5x3Â˝ residence. Every inch has been brilliantly thought out - magnificent ocean views are seen from both levels. Set on a huge 4351m2 block with professionally landscaped grounds this is the perfect place for the whole family to enjoy the Down South lifestyle. $3,950,000 /HH <RUN

Panoramic Ocean Views â&#x20AC;Śof Yallingup Main Break, all the way to Canal Rocks! Imagine reclining on the decked balcony with a glass of your favourite local wine watching the sunset over one of our most famous surf breaks. This well maintained two storey 3x2 residence boasts 2 separate, spacious living areas, double garage in low maintenance native garden surrounds. Auction 11am Saturday 12th July, 2008 /HH <RUN

-XVW /LVWHG %HDFKVLGH /X[XU\ Just steps to Quindalup beach from this lock & leave 4x3 two storey home. 2 living areas; large bedrooms; r/c air-con; huge deck â&#x20AC;&#x201C; ideal holiday home or permanent residence.

$1,395,000 6WHYH +RSNLQV

www.jenningshopkins.com.au

Shop 1 237 Naturaliste Terrace Dunsborough WA 6281 Tel: 9755 3900 Fax: 9755 3911 info@jenningshopkins.com.au

COASTAL & COUNTRY 4

Live your dream lifestyle all year

$859,000

DUNSBOROUGH

This elegant home, built in 2005, exudes style and modernity, finds SAMANTHA JONES

3 DUFFY PLACE

AGENT Acton Dunsborough CONTACT Debbie Bridges, 0417 186 018

SET on 648sqm of land and lovingly built to capture the northern aspect, this house would be perfect for those looking for a retirement or family home. Built in 2005, this four-bedroom rendered brick and Colorbond house has quality fittings throughout. There is a separate master suite with ensuite, walk-in robe and sliding-door access to the outdoor deck. There are two bathrooms, one of which is connected to the main bedroom. The bathroom has a twin vanity. The house overlooks a private treed park and the dĂŠcor exudes style and modernity. The large, open-plan living area is a key feature. Full-length windows adorning the central living area make the most of the beautiful gardens. Additional features include formal and casual living areas with a stunning kitchen, dining and living area that open onto the covered outdoor deck and gardens and overlook the park. The outdoor deck would be a perfect place to entertain, with timber decking and grassed areas providing a relaxing atmosphere. There is a double lock-up garage and the garden is landscaped and reticulated. The home is in a cul-de-sac with direct park access and is within easy walking distance of the town, school or beach. Dunsborough is a popular tourist area with quiet coves, sandy beaches, nature reserves and scenic walking trails. Many of the South-Westâ&#x20AC;&#x2122;s fine wineries are located just a few kilometres from the centre of the town. With warm summers and cool winters, the buyer will enjoy a range of agreeable temperatures throughout the year.

DUNSBOROUGH / YALLINGUP / EAGLE BAY / MARGARET RIVER

DUNSBOROUGH

$1.395 million DUNSBOROUGH

$1.4 million EAGLE BAY

Style Near the Beach

Luxury & Income

Just completed this stunning 2 storey master built residence with quality fixtures & finishes throughout emcompasses stylish living with a downsouth feel perfect for a permanent or holiday home. Louis De Chiera 0418 909 899 / 9756 8888

This new 5 bed, 3 bath, 5-star fully furnished villa with ocean views is stunning. Situated in the absolute beachfront Regency Beach Club, it has air con, polished timber floors, top class kitchen & bathrooms, timber deck upstairs & patio downstairs. Louis De Chiera 0418 909 899 / 9756 8888

WEST BUSSELTON

Absolute beachfront home

$2.85 million

This magnificent property faces north over the ocean and includes a comfortable 4 bedroom brick home with beautiful water views. So close to the water, you can virtually cast a line to catch tea from your backyard! This is a dream redevelopment site. Louis De Chiera 0418 909 899 / 9756 8888

$2.075 million

Brand New Eagle Bay

Superb exclusive development, Eagle Bay. 3 bed, 2 bath, big living opening onto balcony/bbq area. Extras incl l/up garage, air conditioning, security system, Blackbutt flooring. Perfectly located just across the road from beach. Louis De Chiera 0418 909 899 / 9756 8888

Yallingup Siding

$945,000

Ocean Views with Nature Escape!

Set high above Dunsborough, with ocean view, special rural lots of this calibre are a rarity under a million dollars! This 2.5 acre block offers everlasting ocean views and sweeping natural landscape to take in at any given time of the day! Tony Farris 0417 951 838 / 9756 8888

www.stockerpreston.com.au DUNSBOROUGH

VASSE

COWARAMUP

MARGARET RIVER AUGUSTA

COASTAL & COUNTRY

Looking for the light-er side of life Glow with pride in this attractive sunsplashed retreat with ample space for indoor and outdoor entertaining. By LUCY RICKARD BUILT high on an elevated 4701sqm block, this residence has an imposing stance. Located in the highly sought-after Eagle Bay region, the home is secluded and private, with the partially cleared bush block providing ample space for a holidaying family. A timber deck on the upper level has a pitched roof with down lighting and timber balustrades. A barbecue is set into an outdoor kitchen area, with a stainless steel rangehood and tiled splashback. With ample space for a large outdoor setting, this alfresco area is ideal for entertaining.

Opening up the sliding doors to the dining room, creates a large indooroutdoor entertaining area. A private lounge has a stone fireplace and timber mantel, with additional built-in shelving extending across one wall. The kitchen has stone benches and timber features, including the floors, cabinets and timber-lined feature walls. A tiled splashback reaches behind the five-burner gas cook top and double sink. The main bedroom has a private balcony overlooking the rear of the property, and is light and open with a pitched high ceiling. The ensuite servicing the main bedroom has a bright white, yellow and

$3.85M

EAGLE BAY 19 EAGLE BAY ROAD AGENT Stocker Preston CONTACT Louis De Chiera, 0418 909 899

blue colour scheme, with a single timber vanity and three-quarter tiling. This country-styled home has a timber and limestone exterior, with timber featuring heavily throughout. â&#x2013;

Ideal holiday hideaway for family to escape from hustle and bustle 5

$1.34M

GNARABUP 28 MARMADUKE POINT DRIVE AGENT JMW Real Estate CONTACT David Cross, 0439 496 926

PERFECT for family holidays down south, this property includes three separate selfcontained dwellings. There is a big home with four bedrooms and two bathrooms separated into two separate areas. The lower level comprises three bedrooms and one bathroom. A kitchen, lounge and family room provide ample living space on this floor. Upstairs is one bedroom, one bathroom with a kitchen, living and dining area. Balconies on this level wrap around the

home, adding to the living space and providing a pleasant outlook. Both levels are accessible from the outside, keeping them independent. A separate studio has one bedroom, one bathroom, a kitchen and living room and a laundry. An alfresco area is nestled in the natural vegetation. Ideal for a range of holidaygoers, this property has many options for the buyer. Marmaduke Point Drive is a secluded cul-desac and within walking distance to the beach and a short drive to Margaret River. â&#x2013;

COASTAL & COUNTRY 3

$700,000

DUNSBOROUGH

26 BRIDGES CLOSE

AGENT Acton Dunsborough CONTACT Debbie Bridges, 0417 186 018

Ideal for family with a soft spot for the outdoors Modern and stylish furniture complements this dream home, reports LUCY RICKARD LANDSCAPED gardens provide the perfect backdrop to this home with a creek running through the adjacent bush reserve. A pitched high ceiling opens up the central living area, which comprises the kitchen, dining and lounge rooms. The modern and stylish furniture which includes the red leather couches in the lounge and the timber dining table setting for eight is remaining with the home, . The galley-style kitchen has stone benches

with timber cabinets and stainless steel appliances. Four bar stools are set across the breakfast bar, between the kitchen and living area, providing additional space to enjoy a drink or casual meal. The main alfresco area is accessed from the central living area, with sliding doors leading out to the deck. With a timber-lined ceiling, cafe-style blinds and a pleasant garden aspect, this outdoor space is suitable for year-round

entertaining. A table setting for six is in the centre of the deck, with steps down to a second deck where a pathway leads through the gardens. A second alfresco area has a barbecue, and casual sitting area for four. Also built under the main roof, there is ample outdoor entertaining room for a holidaying family. The main bedroom has a stylish ensuite with a clear-screen double-sized shower and a single white vanity with timber cabinets. â&#x2013;

Selling South West Real Estate

DUNSBOROUGH A FOREST FAIRYLAND

OLD DUNSBOROUGH HEAD TURNER

QUINDALUP ABSOLUTE SECLUSION

MARYBROOK 60M TO BEACH

Featuring 4 bedrooms 2 bathrooms, lounge & an open plan kitchen/living/dining area, this country cottage also includes a totally self contained one bedroom studio, stables & close to town.

Exceptional two storey home with 4 large bedrooms 2 bathrooms, walk-in store room, huge games & 8x3 metre pool. This home is in perfect showroom condition.

Split level fully renovated 4 bedroom 2 bathroom home with two separate living areas. Located on a secluded 2ha bush block close to Goanna Gallery & Happs Winery.

Internally renovated in 2006 providing a new kitchen, timber floors, 3 bedrooms 1 bathroom, kitchen/dining area plus lounge. This property includes two titles of 913sqm & 931sqm.

$1,175,000

$2,200,000

$1,195,000

$1,550,000

Joe White 0417 939 715

Darryl Sorgiovanni 0427 767 147

Joe White 0417 939 715

DUNSBOROUGH CENTRAL LOCATION

YALLINGUP LONG WEEKENDER

YALLINGUP SIDING NOTABLE DOWNS

This beautifully presented stylish home is located only 150m to Geographe Bay with 3 bedrooms 2 bathrooms & well appointed kitchen. The perfect residence or lock & leave holiday home.

Cleverly designed country style residence set on 1.3ha amongst a tranquil backdrop, this 4 bedroom 2 bathroom home would make the ideal rural retreat.

Exciting opportunity to secure a perfect Down South Rural Residential block with spectacular views over Geographe Bay. Lot 23 Rapida Rise or 154 Woodbridge Vale

Constructed by Innovest, this home offers 5 double bedrooms, 2 bathrooms, open plan living/ dining & enormous kitchen overlooking an expansive north facing deck. Set on 1.1896ha

$1,095,000

$1,175,000

$825,000 or $775,000

$2,150,000

Darryl Sorgiovanni 0427 767 147

Alan Jones 0418 947 000

238 Naturaliste Tce, Dunsborough WA 6281

YALLINGUP CREAM OF THE CROP

Phone: (08) 9756 8800

COASTAL & COUNTRY

$1.3M

DUNSBOROUGH 218B GEOGRAPHE BAY ROAD AGENT Jennings Hopkins CONTACT Steve Hopkins, 0422 117 121

New beachfront home with balcony views Ideal for family seeking lock-and-leave holiday home, according to listing agent, reports LUCY RICKARD JUST completed, this property is on the beachfront at Quindalup, less than 100 metres to the beach. Built by Tallwood Homes, the house has a contemporary entry that beautifully integrates a stone portico with the otherwise rendered exterior. A balcony protrudes over the garden beds next to the entry, and a paved walkway leads to a secure gate at the side. Corian benches feature in the kitchen, which also has a stainless-steel fridge, coffee

machine, oven/grill, gas cook top and dishwasher. A central island bench that acts as a breakfast bar has extra storage, including a wine store, with pullout drawers providing further space. The kitchen overlooks a big open-plan living area that has downlighting and recessed ceilings. Wide sliding doors lead from this area to the spacious balcony, which has glass balustrades allowing for uninterrupted

views of the natural bush reserve. The home offers two levels with ample living space, which includes an enviable alfresco area with a built-in spa, set into glass fencing. The spa looks out to the adjoining reserve. Tasmanian oak flooring is a feature in the living and main traffic areas. The main bedroom is on the lower level, and has a double-size shower and twin vanities in its ensuite. A sliding door leads

from the bedroom to the alfresco area. Three minor bedrooms share the second bathroom, which has a corner spa. Extras include ducted airconditioning upstairs and split-system airconditioning downstairs. The gardens have lighting, and an automatic reticulation system. The property is low maintenance, and the listing agents says it would be ideal for those seeking a lock-and-leave holiday home. ■

The Beach – Out of Left Field!

Rare chance in popular South-West estate shire council. It was designed to enhance the current dwelling and lovely natural surroundings. With the rural residential infrastructure in place, including electrical run-in from the road, 155,000-litre water tank, septics and driveway, all the hard work has been done. Situated 266km southwest of Perth, the location has a wide selection of attractions, including wineries, breweries, excellent restaurants and most famous of all, the caves and waves. You will love the serenity Yallingup provides. Free from major development and in one of WA’s most desirable areas, this is an extremely rare opportunity. ■

N/A

$1,095,000

YALLINGUP LOT 55 SONNING LOOP AGENT Action Dunsborough CONTACT Julie Fairclough on 0403 177 977

Built circa 1970 and internally renovated in 2006 the shy and retiring exterior belies a new kitchen, timber ﬂoors, 3 bedrooms 1 bathroom (2 toilets), Kitchen/dining area plus separate lounge. The ﬁner points centre around two separate titles of 913m² and 931m² respectively, located at the corner of Smith Street and Caves Road in Siesta Park. Shed, room for a tennis court but most importantly an expansive under populated pristine beach at the foot of Smith Street where the sparkling waters tease you from your back verandah. The beach reserve is quite literally 60m from your boundary.

$1,550,000 9756 8800 238 Naturaliste Tce, Dunsborough jmwrealestate.com.au

Contact: Joe White 0417 939 715

1074692.01

A STUNNING property in the popular Yallingup Hills Estate is on the market. About 8km from Dunsborough township, it is only minutes from Yallingup and Smiths beaches. The one-hectare block has a tranquil outlook over bushland as well as great ocean views from inside the house and its deck. The house has ‘studio style’ accommodation, with one bedroom, bathroom, kitchen, family room and an entertainment deck. The decor has a distinct country feel far away from the pressures and stresses of city life. There are Timberline ceilings throughout the house and the main living area is tiled. There is sliding door access from the paved patio into the main bedroom and the bathroom is tiled, a good size and has a big shower. Outside is an additional rammed limestone building that could provide extra accommodation, an entertaining area or be used for some other purpose. An architecturally drawn house plan for future additions to the house is available and has been approved by the

DOLLARS SENSE

Stress escalating rapidly as higher rates take toll Surveys reveal thousands of homeowners are already 30 days late with payments on their homes, and the figure is increasing. Those under 29 are most at risk of defaulting, but in addition, the group in their late 40s and early 50s are now vulnerable In Perth up to 6% of mortgage holders are seriously behind in their loan payments, figures that do not include the past two rate increases STEPHEN MILES GROUP REAL ESTATE AND MONEY EDITOR

THE Reserve Bank of Australia has gone just about as far as it can go at raising interest rates without seriously damaging the finances of a large number of Australian homeowners, mortgage experts say. Separate polls conducted over the past week reveal that the number of people suffering from mortgage stress has exploded across the country. A survey of almost one million Australian mortgage holders by Fitch Ratings – one of the three big global debt-ratings agencies – found that the proportion of mortgages that were more than 30 days overdue in the six months to 31 March was 1.9% – and growing. However, in some areas – including parts of western Sydney and in Perth – up to 6 per cent of mortgage holders are seriously behind in their home loan payments. And the numbers do not include the influence of the past two official interest rate rises, plus the extra amounts of interest that the big banks have added, so the upward spiral in problem loans will accelerate, as will the fall in house values in the distressed areas. A recent research paper on mortgage stress by Fujitsu Consulting and JP Morgan also predicted that by September, almost 300,000 new households nationally would join the 13 per cent already experiencing mortgage stress, and 40 per cent of those would be under severe stress. According to Mike Young, a financial counsellor with Lifeline, many of the people

who are now in serious financial trouble were doing quite nicely six or seven years ago. Mr Young said at that time, people who would not normally have thought of buying their own home but who had two jobs and worked overtime, decided to borrow up to 100 per cent to buy a house. Now, with a change in the economic environment, things are looking desperate for many of these people. “A lot of people that we see now with serious financial problems are in their late 40s and early 50s and six to seven years ago they were in a good financial position. “Many even bought an investment property. It was the thing to do with the market going up and easy credit.” The Fitch data revealed that financial damage was most severe in areas where property prices were falling. “In these circumstances, highly geared borrowers have few options when they get into difficulty, as refinancing or sale of the security property becomes more difficult,”

Fitch said. “This pattern appears to be evident in Western Australia over recent months, where property prices are falling, leading to distressed borrowers being unable to refinance or sell the property to repay the loans in full.” In another poll, data from Roy Morgan Research estimates there are more than 793,000 Australians in mortgage risk, which is defined as directing 30% to 45% of their household disposable income into their mortgage. However, a lift in interest rates by just 25 basis points would more than double that number – putting more than 1.6 million homeowners at risk of falling behind on their payments. Not surprisingly, mortgagees aged 18 to 29 are at most a risk of defaulting. Roy Morgan estimates 30.3% of mortgage owners in this group are at risk and says this would increase to one-third if rates were to rise again. An estimated 452,000 Australians (13.6% of all home borrowers) would be considered to be at “extreme risk” of mortgage default if

rates were to climb again. The polls came as the ANZ bank delivered one of the most bearish outlooks on interest rates yet seen. ANZ economists forecast that the Reserve Bank would lift official interest rates two more times in the second half of this year. It said a hike of 25 basis points is expected in August, followed by another hike in November. This would lift the official cash rate to 7.75 per cent by the end of 2008 – the highest since November 1991, from a current 7.25 per cent. The commercial banks are expected to pass on the rises, which could push the average standard variable home loan rate of 9.5 per cent up to 10 per cent or more. Based on the results of the surveys, this would be disastrous for both mortgage holders – many of whom are clearly on the brink of insolvency – and the property market, which would see a big increase of distressed sales. One more rate hike may be enough to push both over the edge. ■

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Mandurah by Mirvac has created a bold new vision of coastal living in Mandurah.

Be one of the ﬁrst to experience

Village at Seascapes

The

The Village at Seascapes has been masterplanned by Mirvac Design to bring the Cottesloe lifestyle to Mandurah. Take an early look, at our extraordinary on-site Sales & Information Centre. Over the centre’s two ﬂoors, you’ll be able to explore the features that will make The Village at Seascapes one of Western Australia’s most desirable beachside addresses, including stunning architecturally-designed apartments and homes. The centre will also paint a vivid picture of the cosmopolitan lifestyle created by The Village’s mix of cafés, shops, a brasserie, and elegant public spaces. Step out on the second-storey deck and sample the shimmering blue vista of the Indian Ocean – a view that could be yours. Discover a new side of Mandurah at the Village’s on-site Sales & Information Centre on Seascapes Boulevard.

For more details, contact a Mandurah by Mirvac Sales Consultant on 9424 9989, or visit mandurahbymirvac.com.au Mirvac Real Estate Pty Ltd