It’s hard to believe that without the Urban Renewal Taskforce, established in 1991, the Woolstores and the beautiful residences we have the pleasure of representing today would be a heap of crumbling ruins along the river.
A brand new mural on the Florence Street side of Winchcombe Carson offers passersby a small glimpse into the storied, industrial path of the Woolstores. Commissioned by a local resident and former member of the Urban Renewal Taskforce, MCRT Studio have created a compelling illustration of the original conditions inside the working Woolstores.
Next time you’re grabbing a coffee or matcha from Little Florence Coffee, wander a few steps down toward Commercial Road to take a look at this new addition to the back of the Winchcombe Carson Woolstore!
On the front of the same building, Unit 76 has sold for $1,320,000. Spanning 116 SQM across a single level, this property will be the perfect inner-city base for the buyers who were ready to downsize.
On the top floor of the Dakota Woolstore, Unit 424 too has sold for $2,100,000. This light-filled residence with brilliant city views will equally make the perfect home for the new owners, who fell in love with the building while renting in it during the sale of their family home in the suburbs!
On the top-floor of the Mactaggarts Woolstore, Unit 143 has just hit the market. Renovated with taste as well as practicality in mind, this property is the perfect property to move into, or hold as an inner-city investment opportunity.
Speaking of investing into property, since the last RBA announcement, Australia’s median home value increased by 0.4 per cent in February. The last interest rate cut improved affordability, and buyer confidence has driven renewed demand and ensuing price growth, with market sentiment continuing to improve.
That having been said, the RBA chose to refrain from cutting rates at their meeting on Tuesday. Despite Aussies having high hopes for a second consecutive cut, the cash rate remains unchanged at 4.10 per cent. Along with everyone else, the RBA is keeping a close eye on announcements from the White House, waiting with baited breath to see what Trump’s next tariff move will be, while trying to gradually reduce inflation across the nation.
Despite this uncertainty, economists continue to predict more rate cuts later in 2025. In the meantime, lenders have been busy making changes to a range of products – now is a good time to reach out to a mortgage broker to check if there may be a more suitable option for you! Let me know if you need a recommendation!
Talk soon,
Ben
