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Kulumadau, a grand Ascotian residence in the heart of blue-chip Ascot, Queensland has hit the the market for the first time in 60 years. 
The Queenslander at <a href="https://www.realestate.com.au/property-house-qld-ascot-133118434" target="_blank">30 Ormond Street</a> has had only 2 owners since it was built in the 1930s. 
The double story house sits on three separately titled lots totalling 1215sqm with swimming pool, established gardens and side access to the garage.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/16/ascot%202.jpg" alt="">
It comprises four bedrooms, formal and casual dining/living, and timber entertaining deck off main living area.
Other highlights include original timber flooring, stained glass windows, VJ panelling and high ceilings. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/16/ascot%203.jpg" alt="">
There’s potential to renovate the lower-level self-contained accommodation which would flow out to the pool.
The home is situated within walking distance to leading schools, cafes, Oriel Park and public transport.
Christine Rudolph of Ray White New Farm has the listing. 
The property goes to auction on April 4 on-site with award-winning auctioneer Haesley Cush.
 
 
 
 
 
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j.ballantyne1990-6AQqhLzZaK

Ascot trophy home on 1,215sqm up for auction

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Walsholme, one of the current crop of Centennial Park parkside listings, has been sold.
It is the Addams Family styled home with ornate flagstaff tower, one of the only to be built in the early 1900s housing estate.
The 1908 Federation Romanesque styled Lang Road home with 12-foot pressed metal ceilings had initially been listed through Ballard Property with $12 million hopes, but recently by Ben Collier at The Agency with a $9.5 million price guide.
Designed by Archibald Fenton Spencer, the home has been bought by Penny Kyros who lives in Paddington.
It’s been owned by the Donnan family since 2003 when they paid $3.9 million.
Walsholme was the Centennial Park residence of Fred Walsh.
"An especially appropriate house for a patent agent was the garish high Victorian," Michael Cannon noted in his book, (pictured below) Our Beautiful Homes N.S.W.
The fiercely-mustachioed Walsh also acted as consul-general for the Honduras.
For some years he donated the Fred Walsh Special Prize for Invention at the Sydney Royal Show to encourage technical education.
This article first appeared in the Sunday Telegraph.
.
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Walsholme, Centennial Park sells

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The Bathla Group has expanded its operations with the lease of a second premises in Sydney’s west.
The western Sydney’s construction companies has taken a three-year lease on 3 Augusta Street, Blacktown, for a gross rent of $300,000, plus GST.
The agreement on the 4,500 sqm site includes an additional three-year option, to accompany the existing base it owns in the nearby Girraween.
A 2,000 sqm, freestanding building with access via three rollers doors is complemented by an expansive yard and easy access to the Great Western Highway, M7 and M4.
CBRE’s Matthew Alessi and Brendan Wein managed the campaign with James Reeves from Knight Frank.
“Bathla Group desperately needed additional space, having outgrown their existing facility,” Mr Alessi said.
“This site suited them due to the large hardstand area, proximity to their current Girraween base and the quick availability of the property.” 
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Bathla Group leases new Blacktown site

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We are a country that has become richer than we possibly ever could have imagined. We have had 29 years of unprecedented, <a href="https://www.austrade.gov.au/news/economic-analysis/australia-on-course-to-celebrate-30-years-of-growth-says-oxford-economics#note-1" target="_blank">world-record holding</a> economic growth.
Although economically things are a little <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-02-27/government-budget-surplus-threatened-by-coronavirus/12002704" target="_blank">precarious</a> in the midst of the coronavirus outbreak and our worst bushfires in recorded history, ahead of the first gross domestic product (GDP) announcement for the year, it’s worth acknowledging this remarkable achievement.
But what has it meant for people’s lives? The figures tell us little about <a href="https://www.theguardian.com/commentisfree/2020/feb/23/fiona-stanleys-2020s-vision-please-can-we-move-beyond-gdp" target="_blank">whether life is getting better</a>.
In 1991, the last time GDP went backwards for two consecutive quarters, 258,226 babies were born in Australia.
Samantha and Andrew
Let’s call one of them Samantha, born in Bently, an area of high socioeconomic disadvantage in Western Australia, and the other Andrew, born in the suburb of Griffith in the Australian Capital Territory.
During the first two years of their lives, around one in 10 families with children were in a <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/2f762f95845417aeca25706c00834efa/855e6f87080d2e1aca2570ec000c8e5f!OpenDocument" target="_blank">jobless household</a>.
Andrew’s parents had jobs. Samantha’s didn’t.
By the time Samantha and Andrew were 25, in 2016, average household disposable income was twice what it had been when they were born, even after accounting for higher prices.
But it’s not hard to see that, despite economic growth, their lives were different.
Samantha had less education, was underemployed, in housing stress and skipping meals to feed her kids. Andrew had higher education, was employed full-time, lived with high-income parents and was saving for a deposit for a place of his own.
While economic growth made us wealthier as a country, it hasn’t been good for all of us.
We need a measure that sits alongside gross domestic product that tells us whether we are actually getting better off.
<h2>What matters is whether we are really better off</h2>
The idea of a broader measure of social progress isn’t new – a collaboration called the <a href="http://www.andi.org.au/" target="_blank">Australian National Development Index</a> has been underway a few years now, and the Australian Bureau of Statistics used to publish “<a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/1370.0%7E2013%7EMain%20Features%7EAbout%20MAP%7E2" target="_blank">Measures of Australia’s Progress</a>” until budget cuts in 2014.
<a href="https://treasury.govt.nz/publications/wellbeing-budget/wellbeing-budget-2019-html" target="_blank">New Zealand</a> introduced a “well-being budget” last year, targeting mental health, child welfare, Indigenous reconciliation, the environment, suicide, and homelessness, alongside traditional measures of productivity and investment.
Labor’s treasury spokesman, <a href="https://www.smh.com.au/politics/federal/measure-what-matters-labor-s-plan-to-track-the-nation-s-wellbeing-alongside-gdp-20200219-p5426n" target="_blank">Jim Chalmers</a>, has <a href="https://jimchalmers.org/media/speeches/measuring-what-matters/" target="_blank">promised</a> to do the same when Labor is next in office.
<a href="https://amplify.csi.edu.au/social-progress-index/" target="_blank">Australia’s Social Progress Index</a>, launched last month by the <a href="https://amplify.csi.edu.au" target="_blank">Centre for Social Impact</a> at UNSW Sydney and the <a href="https://www.socialprogress.org/" target="_blank">Social Progress Imperative</a> will go further, and much further than the national accounts to be released today.
It will enable the well-being and opportunities to be ranked and compared by location and time.
The <a href="https://amplify.csi.edu.au/social-progress-index/" target="_blank">online tool</a> enables anyone to explore how we are tracking on <a href="https://amplify.csi.edu.au/social-progress-index/methodology/" target="_blank">12 components </a> grouped into three domains: basic human needs, foundations of well-being, and opportunity.
<a href="https://images.theconversation.com/files/318218/original/file-20200303-18270-7wakux.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/318218/original/file-20200303-18270-7wakux.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Finding the components wasn’t easy.
We needed to consider data availability, data detail, sample sizes, and reliability. We considered more than <a href="https://amplify.csi.edu.au/social-progress-index/methodology/" target="_blank">400 possibilities</a>.
While it is by no means the only (or perfect) way of understanding Australian living standards, it pushes us significantly beyond GDP.
It asks and answers universally important questions, such as:
• Do people have adequate housing with basic utilities?
• Do people have access to an educational foundation?
• Are people free to make their own life choices?
• Is this society using its resources so they will be available to future generations?
<h2>Economic growth doesn’t tell us much</h2>
The results show a stark disconnect between economic and social progress. While our GDP has been rising, we have fared poorly on environmental quality and access to information and communications.
At a state and territory level, despite having high gross state product per capita, <a href="https://www.jtsi.wa.gov.au/docs/default-source/default-document-library/wa-economic-profile---february-2019.pdf?sfvrsn=538731c_4" target="_blank">Western Australia</a> and the <a href="https://nteconomy.nt.gov.au/economic-growth" target="_blank">Northern Territory</a> ranked 7th and 8th on most of the indicators.
The rising tide has not lifted all boats.
This is evident in Andrew and Samantha’s lives (the Australian Capital Territory ranks first overall, Western Australia 7th) and also in the aftermath of the bushfires.
People were cut off from <a href="https://www.theguardian.com/australia-news/2020/jan/01/australia-bushfire-towns-supplies-power-houses-the-lot" target="_blank">power</a>, information, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/rural/2020-01-13/are-australias-telecommunication-up-to-the-new-kind-of-megafire/11860238" target="_blank">communication</a>, and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-01-06/fire-cuts-food-supplies-to-nsw-south-coast-towns-and-families/11842382" target="_blank">access to resources</a>. Many <a href="https://www.health.nsw.gov.au/news/Pages/20191113_00.aspx" target="_blank">struggled to breathe</a>. We lost much of our ecosystem.
The economy is fundamental to improving our well-being and fuelling our social progress, but it isn’t everything and it isn’t necessarily inclusive.
If we had inclusive growth we wouldn’t be able to predict babies’ futures by the postcodes in which they were born. We would be able to meet basic human needs regardless of how much was spent and earned each quarter.
Today’s national accounts will be important, as a spur to asking other important questions, rather than as the final answer.<img src="https://counter.theconversation.com/content/132739/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/kristy-muir-158422" target="_blank">Kristy Muir</a>, Professor of Social Policy / CEO, Centre for Social Impact, <a href="https://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>; <a href="https://theconversation.com/profiles/isabella-saunders-981654" target="_blank">Isabella Saunders</a>, Research Assistant at the Centre for Social Impact, <a href="https://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>, and <a href="https://theconversation.com/profiles/megan-weier-151162" target="_blank">Megan Weier</a>, Research Fellow, <a href="https://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/todays-gdp-figures-wont-tell-us-whether-life-is-getting-better-heres-what-can-132739" target="_blank">original article</a>.
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Today's GDP figures won't tell us whether life is getting better -- here's what can

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The COVID-19 coronavirus is spreading across the world. Initially the epicenter was China, with reported cases either in China or in travellers from China. There are now at least four further epicenters: Iran, Italy, Japan and South Korea.
Although the World Health Organisation believes the number of cases in China has peaked and should fall, case reports are climbing from countries previously thought to be resilient due to stronger medical standards and practices.
In a strongly connected and integrated world, the impacts of the disease will go beyond mortality (deaths) and morbidity (people incapacitated or caring for the incapacitated and unable to work).
Companies across the world, irrespective of size, depend on inputs from China – much more so than during the 2002-04 China-centred Severe Acute Respiratory Syndrome (SARS) pandemic.
In 2003 China accounted for less than one twentieth of world trade. It now accounts for one seventh, making it the world’s biggest importer and an integral part of most global production chains.
Just as important to the world economy, panic is distorting spending. Global stock markets have plunged.
<h2>Fear is as important as trade</h2>
Entire cities in China have closed and travel restrictions have been placed on people entering from infected countries.
The fear of an unknown deadly virus is similar in its psychological effects to the reaction to terrorism threats and produces a high level of stress, often with longer-term consequences.
A large number of people feel at-risk at the onset of a pandemic, even if their actual risk of dying is low.
The International Monetary Fund expects COVID-19 to knock 0.4 points off China’s economic growth target of 5.6% and 0.1 points off global growth, an assessment it will continue to update.
On Monday the Organisation for Economic Co-operation and Development sliced 0.8 points off its forecast for China’s growth and <a href="https://www.oecd-ilibrary.org/docserver/7969896b-en.pdf?expires=1583190648&amp;id=id&amp;accname=ocid194681&amp;checksum=0394E7E583C8F97E4F5F8D9B7B14AE8E" target="_blank">0.5 points</a> off its forecast for Australian growth.
As part of a large research project in the Centre for Excellence in Population Ageing Research (CEPAR) at the Australian National University, we have applied experience gained from evaluating the impact of SARS for the World Health Organisation in <a href="https://www.lowyinstitute.org/sites/default/files/pubfiles/WP_5_03_Globalization_and_disease_FINAL_1.pdf" target="_blank">2003</a> and <a href="https://cama.crawford.anu.edu.au/pdf/working-papers/2006/262006.pdf" target="_blank">2006</a> to <a href="https://cama.crawford.anu.edu.au/publication/cama-working-paper-series/16221/global-macroeconomic-impacts-covid-19-seven-scenarios" target="_blank">seven scenarios</a> for COVID-19:
<a href="https://images.theconversation.com/files/317991/original/file-20200302-18287-19xav3t.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/317991/original/file-20200302-18287-19xav3t.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The scenarios vary the attack rate (the proportion of the total population contracting the virus), the mortality rate (the proportion of total population who dies), whether epidemic is a one-off (essentially temporary) or recurrs each year (essentially permanent), and whether it spreads globally or is largely confined to China.
<h2>Australian faces a significant hit to GDP</h2>
We find that in the four scenarios where the epidemic goes global, Australia’s GDP which in the 12 months to December grew just 1.7%, would suffer a hit in the first year of between 2% and 7.9%, most likely sending GDP backwards (a recession).
In all countries the sharp hit to growth would be followed by a gradual recovery.
The results are very sensitive to the assumptions used, including government responses in each country.
In the short term, central banks and treasuries will need to make sure disrupted economies continue to function.
<hr>
Australia: percentage change in real GDP
<a href="https://images.theconversation.com/files/318203/original/file-20200303-18308-16ajz12.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/318203/original/file-20200303-18308-16ajz12.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Percentage deviation from business as usual. <a class="source" href="https://cama.crawford.anu.edu.au/publication/cama-working-paper-series/16221/global-macroeconomic-impacts-covid-19-seven-scenarios" target="_blank">Source: McKibbin and Fernando, March 2020</a>
<hr>
While cutting interest rates is an option, the shock will require a mix of monetary, fiscal and health policy responses. Quarantining affected people and reducing large scale social interaction would be an effective response.
Wide dissemination of <a href="https://www.brookings.edu/opinions/simple-steps-to-reduce-the-odds-of-a-global-catastrophe/" target="_blank">good hygiene practices</a> can be a low cost and highly effective response that can also reduce the extent of contagion and keep down the social and economic cost.
The longer-term responses are even more important.
Many governments have been reluctant to invest sufficiently in their health care systems, especially in public systems in less developed countries where many infectious diseases are likely to originate.
<h2>Investments in overseas public health matter</h2>
The idea that any country can be an island in an integrated global economy is being proved wrong.
Poverty kills people. However, the outbreak of COVID-19 shows that diseases, potentially generated in poor countries due to overcrowding, poor public health and interaction with wild animals, can kill people of any socioeconomic group in any country.
There needs to be vastly more investment in public health and development in the richest but also, and especially, in the poorest countries.
Our study suggests big economic costs in countries such as Australia can be avoided through global cooperative investment in public health in all countries.
We have known this for decades, yet politicians continue to ignore the scientific and economic evidence about the role of global public health in improving the quality of life and driving economic growth for us all.<img src="https://counter.theconversation.com/content/132759/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/warwick-mckibbin-9129" target="_blank">Warwick McKibbin</a>, Chair in Public Policy, ANU Centre for Applied Macroeconomic Analysis (CAMA), <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292" target="_blank">Crawford School of Public Policy, Australian National University</a> and <a href="https://theconversation.com/profiles/roshen-fernando-982432" target="_blank">Roshen Fernando</a>, PhD Student in Economic Policy, <a href="https://theconversation.com/institutions/australian-national-university-877" target="_blank">Australian National University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-first-economic-modelling-of-coronavirus-scenarios-is-grim-for-australia-the-world-132759" target="_blank">original article</a>.
Main Photo by <a class="owner-name truncate" href="https://www.flickr.com/photos/jeena/" target="_blank" title="Go to Jeena Paradies's photostream" data-track="attributionNameClick">Jeena Paradies</a>.
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The first economic modelling of coronavirus scenarios is grim for Australia, the world

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EXPERT OBSERVER
So it’s 1946 and we’re about to see the largest increase in birth rates the country has seen for some time until 1965, roughly 5.5 million Aussies were born. 
Post the depression and war, our guys and gals got together and lovingly created what we now know as the baby boomer generation. The Boomers have been known throughout history to be a real bunch of trend setters, not just because of their teenage antics throughout the swinging 60’s and 70’s but due to the sheer size of the cohort and their housing preferences they have had an impact on property markets worldwide. 
Now when you think about it logically, most of us aspire to live the great Australian dream and buy a property one day, a house with a yard would be good and while it’s not always the first property you buy it is often a house that was home to the Boomers and their growing families. 
Fast forward 55 years and you’ve now got a group of people that are 55 – 74 years old, have already or are near to exiting the workforce and typically own their homes. I’m sure you’ve got a fair idea about what happens next… 
Well it’s not as obvious as you might think, given the rising costs of living and aged care options that are now available we’re seeing more and more boomers simply stay put. 
Let’s say you were hanging up the shingle and putting yourself out to paddock (retiring), one of your first thoughts might be around whether you have enough money/assets to live out your retirement years. 
We don’t discuss financials but often we see clients factor in the value of their home as part of their retirement strategy and you get the call, “Hey Chris, can you come over and tell me what the house is worth”. 
So we establish what the house might be worth and then you start to wonder where you’re going to live if you did sell; a luxury apartment, over 55’s resort, buy some wheels and do the Grey Nomad thing or just plain old downsize to a run of the mill apartment. Let’s be real about it, you’re going from a house to something smaller and while you’re wanting something cheaper to put some cash in your pocket you’re probably not wanting to jeopardise your lifestyle. 
This is where it gets tricky when you’re then looking at apartments in and around where you already live, often we find that the price variance between large-ish or luxury apartments that downsizers typically go for are not all that much cheaper than the houses they’re moving from when you factor in all the costs. 
So is it worth it?  
Well not always and that’s why we are seeing an increase in the number of Boomers that are choosing to ‘Age in place’ which has had a flow on effect in the property markets supply. 
As a direct result of less detached homes coming to market there’s essentially less people upgrading because there isn’t the supply to do so, house prices have typically held fairly strong in recent times and are continuing to rise in capitals due to low supply in contrast to apartments in the same markets. 
With more and more apartments being delivered in metro areas to meet demand, we are fast moving toward a unit economy in the big cities whereby the great Australian dream hasn’t been lost, it’s just become more realistic to consider apartment living. 
So when you’re wondering why there’s not the same volume of property on the market compared to past years, I guess you need to ask yourself the question. Is this the new normal?
CHRIS ORR is the Residential Director at Savills
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Is this property market the new normal? Savills Chris Orr

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Luxury residential price growth in Australia is highest in Sydney and Melbourne, according to the results of the Prime International Residential Index (PIRI 100) in Knight Frank’s The Wealth Report 2020, released.
The PIRI 100, which tracks the movement of luxury residential prices in 100 cities and second home markets globally between December 2018 and December 2019, found four Australian cities were ranked in the top 60 for luxury residential market performance over the past year. 
Sydney was the top ranked city in Australia, coming in at number 27 with 3.7 per cent annual growth, with Melbourne second at 44 (2.2 per cent growth).
The Gold Coast was ranked 55 (1.8 per cent), Brisbane was ranked 57 (1.4 per cent) and Perth came in at 63 (0.9 per cent)
“Globally, the 100 locations covered by Knight Frank’s Prime International Residential Index recorded average price rises of 1.8 per cent, up from 1.3 per cent in 2018, although down from the 2.8 per cent recorded in 2013", according to Michelle Ciesielski, Knight Frank’s head of residential research Australia.
“Despite record low interest rates and wealth growth continuing in most advanced economies, there were some factors preventing global price growth from reaching previous highs, including the slowing global economy, rising property taxes and in some cases, a surplus of luxury homes on the market.
“But global price growth is firmly on the way up, with a shift away from the moderating price growth that has prevailed since 2013. We found 78 of the 100 locations in PIRI registered flat or positive growth in 2019. 
“In Australia, Sydney and Melbourne recorded growth above the global average, and Sydney is leading the five domestic markets with prices underpinned by constrained supply, a resilient stock market and three interest rate cuts in 2019.
“Arguably unrivalled for lifestyle, Sydney combines all the first-class amenities of a tier-one city with an outdoor lifestyle in a waterfront location.”
Shayne Harris, National Head of Residential, Knight Frank said, “Demand for luxury property in Sydney has further strengthened, with demand growing and momentum building from 2019 into 2020. 
“We know from The Knight Frank Attitudes Survey that one-third of Australian ultra-high-net individuals (UHNWIs) wealth portfolios are made up of their principal place of residence and second homes.
 “Sixteen per cent of Australian UHNWIs are planning another residential home purchase and this doesn’t include those properties for investment purposes. The main reason for their next purchase will be led by upgrading the family’s main residence, downsizing or retirement and a new family home in a sunny location.  
“Globally, 21 per cent of UHNWIs are planning another home purchase in 2020. When ranking the countries for the next purchase, Australia came in third place, behind the United Kingdom and the United States despite non-residents without an investor visa being restricted to new-build purchases only.
“Looking at relative values across the globe, you can essentially buy 50 sqm of prime luxury internal floorspace in Sydney with US$1 million, when compared to 21 sqm in Hong Kong or just 16 sqm in Monaco. 
“Your US$1 million extends even further when buying in Melbourne (96 sqm), Perth (117 sqm), Brisbane (123 sqm) and 136 sqm on the Gold Coast.”
Ms Ciesielski said ongoing high demand for luxury residential property in both Sydney and Melbourne was expected to result in higher growth rates in prices next year.
“Both cities have performed better than expected over the past 12 months, exceeding expectations for prime residential price growth, with Sydney’s actual growth of 3.7 per cent almost double the forecast 2 per cent and Melbourne’s growth of 2.2 per cent more than double the forecast 1 per cent.” 
“Knight Frank’s The Wealth Report forecasts that Sydney luxury residential property prices will grow by 4 per cent in 2020, while Melbourne will see growth of 3 per cent. The other cities of Brisbane, Perth and the Gold Coast are forecast to see growth of 2 per cent over this time.” 
Australian cities included in Knight Frank’s PIRI 100:
<table style="width: 632px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="179">
City
</td>
<td valign="top" width="113">
2019 Ranking
</td>
<td valign="top" width="113">
 per cent Change 
(Dec 2018 to Dec 2019) 
</td>
<td valign="top" width="113">
2018 Ranking
</td>
<td valign="top" width="113">
 per cent Change (Dec 2017 to Dec 2018) 
</td>
</tr>
<tr>
<td valign="top" width="179">
Sydney
</td>
<td valign="top" width="113">
27
</td>
<td valign="top" width="113">
3.7 per cent
</td>
<td valign="top" width="113">
30
</td>
<td valign="top" width="113">
3.1 per cent
</td>
</tr>
<tr>
<td valign="top" width="179">
Melbourne
</td>
<td valign="top" width="113">
44
</td>
<td valign="top" width="113">
2.2 per cent
</td>
<td valign="top" width="113">
41
</td>
<td valign="top" width="113">
2.2 per cent
</td>
</tr>
<tr>
<td valign="top" width="179">
Gold Coast (= with Verbier, Switzerland)
</td>
<td valign="top" width="113">
55=
</td>
<td valign="top" width="113">
1.8 per cent
</td>
<td valign="top" width="113">
42
</td>
<td valign="top" width="113">
2.1 per cent
</td>
</tr>
<tr>
<td valign="top" width="179">
Brisbane
</td>
<td valign="top" width="113">
57
</td>
<td valign="top" width="113">
1.4 per cent
</td>
<td valign="top" width="113">
31
</td>
<td valign="top" width="113">
3.0 per cent
</td>
</tr>
<tr>
<td valign="top" width="179">
Perth
</td>
<td valign="top" width="113">
63
</td>
<td valign="top" width="113">
-0.9 per cent
</td>
<td valign="top" width="113">
42
</td>
<td valign="top" width="113">
2.1 per cent
</td>
</tr>
</tbody></table>
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Melbourne and Sydney dominate luxury residential price growth in Australia: Knight Frank

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A minimalist style house in Battery Point, Tasmania has been sold for $3 million.
The four bedroom, two bathroom house at <a href="https://www.realestate.com.au/sold/property-house-tas-battery+point-132816874" target="_blank">64 Napoleon Street</a>, sits on a 711sqm riverfront block. 
The middle level of the home comprises kitchen, adjacent dining, sun room and master suite. 
The lower level comes with two bedrooms, media room, laundry, cellar and direct access to gardens and parking. 
The upper level features views, attic strong, built in window seat and opening vellum windows. 
The house is located close to schools, Sandy Bay's shopping precinct, cafes, restaurants and beaches. 
Debbie Heron of Charlotte Peterswald for Property Sales had the listing. 
The house last sold for $2 million in 2016. 
 
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Minimalist style home in Battery Point, Tasmania sold 

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An original six-bedroom, five-bathroom Strathfield estate has been listed for March 28 auction.
The <a href="https://www.realestate.com.au/property-house-nsw-strathfield-133058198" target="_blank">Meredith Street</a> home has been listed through Georges Ellis &amp; Co estate agents Joseph Georges and Sam Georges.
Their price guide is $3,750,000.
Set on a 1,858 sqm block, the property has a picturesque garden, tennis court and solar heated pool. 
The master ensuite bedroom includes a walk-in dressing room, and the home features four children bedrooms, grand, formal and informal living areas, high ceilings and headlight windows. 
Built in 1900, this home is one of many first grand mansions built in Strathfield.
While "many of those that remain have been carved into apartments or now house private schools", reports this is one of the few that remain.
With DA approval, the estate has a detached block from the main house.
This estate was last sold in 2014 for $2.5 million.
A similar six-bedroom home on South Street in the area was sold last month for $4,420,000. 
 
 
 
 
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Original estate in Strathfield for sale

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The REIV is forecasting a busy auction weekend in Melbourne.
1,144 auctions are currently scheduled in Victoria, well up from the 410 that took place last week during the the Moomba/Labour day festivities.
This volume is higher than the 186 auctions that took place during tast year. 
The number of auctions scheduled this weekend are up from the 920 which took place this week last year.
<img src="blob:https://www.urban.com.au/4007fef7-4524-4a55-bd6a-977e2aecd973">
Clearance rates reached 68.6% last week.
Sydney is seeing a slowdown in auction volumes this week with 753 auctions scheduled to go under the hammer, down from 830 last week.
However that is still higher than this time last year when 638 auctions took place.
Across the smaller auction markets, Perth is expecting fewer auctions week-on-week.
Howevere Adelaide, Brisbane, Canberra and Tasmania will all see volumes rise over the week, according to CoreLogic.
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Melbourne auction volumes surge following Moomba long weekend

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

Joel Robinson

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Staff reporter

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