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VOL 4 JUL-SEPT ‘19 ISSUE#04

NEW FARM/TENERIFFE PROPERTY MAGAZINE

WHAT’s inside

DARWON’S THEORY

QUARTERLY PRICE REPORT

STUDIO 15B INTERVIEW Featured Property: 388 Bowen Terrace New Farm, QLD 4005

SCOTTDARWON.RAYWHITE.COM


A

s always, buyer sentiment continues to be heavily influenced by the combination of local area market conditions and the overall macroeconomic environment.

The highest growth rate in jobs for more than a year, rebounding iron ore prices and the ASX-200 near an 11-year high has not changed the financial market’s view that the Reserve Bank will have to cut rates again next month. The economy created 42,300 new jobs last month – outstripping economists’ expectations of a gain of 16,000 new positions, but it was not enough to change the unemployment rate of 5.2 per cent, pushing the chance of another 0.25 percentage point rate cut next month to more than 65 per cent. Driven by a rise in the participation rate to an all-time high of 66 per cent, the unemployment rate has remained stubbornly above the rate the Reserve Bank believes is necessary to lift wages and inflation.

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DARWON’s

theory Scott darwon

Job cuts, such as those announced by Telstra and Coles in the last fortnight, along with a sluggish forward employment indicators in the NAB Business Survey do not bode well for the direction the unemployment rate needs to take. The unemployment figures have been the main focus guiding the Reserve Bank’s monetary policy; it cut the official interest rate to a record low of 1.25 per cent, from 1.5 per cent, last week mainly to support employment growth and to try to kickstart wage growth. On Wednesday 12th June, the RBA’s assistant governor Luci Ellis suggested the level of unemployment needed to lift wage growth and inflation to within the bank’s target would now need to be below 4.5 per cent after previously expecting it to be 5 per cent.

New Farm Ray White M: 0401 151 090 T: (07) 3358 0607 E: scott.darwon@raywhite.com W: scottdarwon.raywhite.com A: 612 Brunswick Street, New Farm, Queensland 4005, Australia 3 RAY WHITE MAGAZINE SEPTEMBER 2019


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FEATURED INTERVIEW

ALLISON SMITH

Can you tell us a little bit about yourself and Studio 15b? Studio 15b – Architecture + Interior Design, is a boutique New Farm practice that works with our Clients to create custom designed homes, perfect for their needs. As Director and Architect, I founded the business in 2013, to establish a genuine, down-to-earth service where Clients could trust us with their significant investment. I’m very approachable and enjoy building relationships to fully understand our Clients unique needs. The Studio 15b team enjoys organising what is really important to each Client, into a design that works functionally, while having architectural beauty and flair. We are greatly inspired when working with existing homes, transforming them in practical ways through our unique designs, to adapt them to modern needs. Whether a Client’s dream home is existing or they have a new home opportunity - we will work with the unique features of their site, their lifestyle and their own personal style, to produce a design that is refined, light filled & refreshing. Studio 15b takes on only a small number of select projects at a time, which allows the delivery of a totally personalised service, giving individual attention to each project. We guide the Client through the process at each stage. Though most of our work is in the area of high end, bespoke housing, Studio 15b also have decades of experience in business fit-outs and multi-residential projects.

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What was your inspiration behind the design of XX Byram Street, your New Farm home? My own New Farm home has recently undergone a big transformation. As an architect, it’s extremely exciting working on your own home - from the very beginning searching for a property, to living in the house and working through the infinite possibilities of the space with initial design thoughts, then taking the design right through construction. On this project, the overarching brief was for a flexible family home, with separate zones for work, recreation and rest. This resulted in a modern solution that was, at the same time, sympathetic to the original Queenslander retained on the compact, sloping site. The existing pre-1946 house has been raised and built-in below, which can sometimes lead to a disconnect between the old and the new, yet the additions work seamlessly with the old house. The interior design blends the two time periods, by carrying the existing dark stained timber trims, windows and doors through to the extension in a modern interpretation, adding twenty first century conveniences while giving a nod to the building’s history.

What were some of the challenges you had to overcome during the build? The first challenge overcome on the build was moving out of the house! On the up side, this gave us a chance to declutter. Finding somewhere local to rent made attending site meetings as simple as a stroll down the road. We were heavily involved during the house construction, working with the Builders to solve problems on a day to day basis. Renovating a 100 year old home always poses challenges, requiring the architect to think flexibly at all times. With a few reshuffles in response to some difficult existing conditions, the home came together consistently with the initial concept design. We love the final result.

With the site sloping down, away from the street, I saw an opportunity to create a split lower level. A change in level is a great tactic for separating different zones in the home and, in this case, had the side benefit of providing lovely high ceilings in the kitchen, living and dining space at the rear. This also allowed the addition of high level glazing to enjoy copious amounts of natural light and ventilation in the space. These newly created living spaces are my favourite part of the home. Externally, this area is framed by a thick metal capping which gives the project its name of “Black Ribbon House”.

Based on your wealth of experience both personally and advising clients through the process, what would your advice be to anyone who is looking to renovate or develop their property? If you were looking to renovate or develop your property, I suggest doing your research to find the right professionals for you and your project. Studio 15b can help guide you through this process from the very beginning, putting you in touch with the best people for town planning advice, cost estimation and engineering services. We are also able to assist in prioritising a brief to suit a specific budget, can give you guidance on how best to use your funds for maximum impact and will guide you through the approval processes. At the end of the design and documentation stage, we can also assist with finding the right builder. Our assistance during the construction phase ensures the original design intent is successfully carried through to the built outcome of your home.

STUDIO 15B / ALLISON SMITH

What were some of the challenges you had to overcome during the build?

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CLASSIC

NEW FARM These restaurants exist not because of trends or fads but simply because the market demands they do, they look after many local empty stomachs and in return the locals offer their complete faith! These few are all quality in their own right, you will not see their names in the restaurant gossip columns but if you haven’t been to them, you need to get with the local programme.

HIMALAYAN CAFÉ 21 Barker St, New Farm QLD 4005 Heading further East on the map, Himalayan Café produces exceptional Tibetan and Nepalese cuisine. Wowing Peninsular foodies for over 10 years, you will not be disappointed by the range and quality presented; boasting vegetarian, vegan, gluten free and BYO! So, grab your friends and your favourite bottle of wine and enjoy the authentic feel and flavours that the Himalayan Café offers.

CASA ITALIA COMMUNITY CENTRE 26 Gray St, New Farm QLD 4005 The next on our list has been around for what seems like, and almost has been, a lifetime! Starting as a meeting place for post war migrants from Italy, it now has a long-standing reputation for amazing Italian cuisine. Casa Italia is the perfect place to grab a quick bite, take the whole family or play some pool while sipping back some delicious house wine.

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CONTINENTAL CAFÉ 21 Barker St, New Farm QLD 4005 A long-standing favourite of New Farm, Continental Café has been serving unfussy, honest and well executed food for over 17 years. Combining influences from France, Spain, Italy and Switzerland, you have a wide range of ‘conti classics’ you can choose from or one of their more eclectic monthly special dishes. For me, I can’t go past the pan-fried lamb’s fry and bacon, it is absolutely beautiful!

TAJ MAHAL 722 Brunswick Street, New Farm QLD 4005 Serving exquisite curries for more than 12 years, Taj Mahal, is a must-do. Adorned with Indian art and encapsulate with an easy-going vibe, the hardest decision you’ll have to make is whether or not you choose the Butter Chicken or Chicken Tikka Masala. It is clear to see why Taj Mahal has become a long-lasting restaurant for the Peninsular.

VINE RESTAURANT BAR Shop 5, 158 Moray Street, New Farm, QLD 4005 Vine is the older brother of Mosconi, which we featured in an earlier addition. Having been open since 2005, it has established a cult following from local owners to out of area diners. Combining tradition with local produce, it’s no wonder Vine has proven itself to be at the forefront of Brisbane dining. For you next visit, try the tortellini, it is phenomenal!

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july to september 2019 house sales map

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Your Personal Broker

Paul Hixon

Here at Ray White New Farm we are lucky to have our own in-house broker

In light of recent changes to the financial climate we thought we would catch up with one of the best in the business to chat all things lending!

ABOUT PAUL

Q1: In light of recent interest rate reductions and general economic strength, where do you see interests going in the future? NEGOTIATIONS

The power to negotiate a competitive The major banks economists are predicting a further cut inPaul interest rates before theadviser end of the and we’re Hixon is a mortgage whoyear works deal rates with over 35 banksinand lenders already seeing fixed dropping anticipation of this. Whether rates drop or not, the competition for for Loan Market and is based in the beautiful you know and trust new home loan business means there are amazing rates out there, better than pride I’ve seen in 10 years of lending. New Farm. He takes in offering clients a

Q2: With the recent APRA changes to the market?

personalised and bespoke service which will guarantee the best borrowing capacity howresults. do you see this affecting

Paul and his team take pride in turning your mortgage approval around in 48 hrs, which As we write thereSERVICE is a battle between the banks and APRA totake dropthe servicing rates. A servicing rate is the helps stress out of buying. He will interest a bank stress tests a loan against, this is currently 7.25% for most lenders, so they’re basically also guide you fully through the mortgage testing Amazing service that won’t put you to see if you can afford home loan ifpaid interest 7.25%. The bankstoare saying this is an unrealistic application process ensure you‘re out of the pocket as we’re by therates go to number currentlybanks especially with the way they’re are having to analyses the servicing rates completely on living boardexpenses. the wholeIfway.

drops then people will be able to borrow more again. It won’t be a huge increase but it will help first home Throughout the loan application process and buyers and investors reach their goal purchase price. even after the sale or refinance has gone through, Paul will keep in touch with you, to Q3: Whats some of the best deals in the market at the moment? ensure the package you went for was the right one for your needs. He will check that it Home loan ratesFAMILY are now inVALUES the early 3%’s with several lenders under 3.4% for owner loans. The has continued to enable you tooccupied live Loan Market is not owned by a bank, best deals are currently available for investors who a couple of years ago got a nasty jump in their comfortably into the future. It’s that kind of interest led byinvestment a family for over 20 from years 3.43% Principal rates. We’re nowbut seeing rates and that Interest andPaul 3.69% Interest Only. These extra mile makes a great mortgage drops in investment rates will certainly help the rent received cover the mortgage repayments. Not all loans broker.

are available in all areas but we help to sort the best deal for clients depending on their circumstances and the property location.

Elite

Performer 2016

GET IN TOUCH

Paul Hixon Mobile: 0424 080 341 PAUL HIXON Email: paul.hixon@loanmarket.com.au MOBILE: 0424 080Website: 341 loanmarket.com.au/paul-hixon/ EMAIL : paul.hixon@loanmarket.com.au Australian Credit License: 390222 WEBSITE: loanmarket.com.au/paul-hixon/ AUSTRALIAN CREDIT LICENSE: 390222



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