The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

Joel Robinson

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

&nbsp;

[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.

The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.

The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.

Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.

The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.

The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.

Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.

"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.

"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.

Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.

"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.

"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."

Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.

"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.

Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."

The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.

NSW expands Pre-sale Finance Guarantee to unlock more affordable and regional housing

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

Title Tattle

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The Baker brothers have listed their barn residence at Exeter with $1.85 million hopes.
It last sold through Drew Lindsay at Drew Lindsay Real Estate at $860,000 in 2011. 
No ordinary abode as it was style queen Maggie Tabberer who was its last owner.
<img class="attachment-big wp-post-image" src="https://www.drewlindsay.com.au/wp-content/uploads/2015/05/Original-Barn-front-640x360.jpg" alt="The Barn, Exeter" title="The Barn, Exeter">
But the New England-style barn at Exeter goes back further having been bought by Maggie in 2001 from acclaimed singer Anthony Warlow for $425,000.
<a href="https://www.drewlindsay.com.au/?property=the-barn-exeter" target="_blank">The three-bedroom, lavender-grey barn</a> is on 2050 square metres of established gardens with high hedges.
It was built by Tony and Michelle McAuslan in the early 1990s. 
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jchancellor-FAypfDUnLy

Maggie Tabberer's former Southern Highlands barn for sale

Channel 7 sports reporter Tom&nbsp;Browne knocked back $2.06 million when his renovated 1890s Toorak home went to spring auction last year.

It was listed with reported price expectations of $1.9 million, but its reserve price was revealed post auction as $2.3 million by Kay &amp; Burton.

The settlement documents lodged last week indicated he secured $2.2 million.

[smartcode_project:default project_id=7363 project_image_fid=41840]

The double-storey terrace, with 136 square metres living space, on a 374 square metre block at&nbsp;<a href="https://www.realestateview.com.au/Real-Estate/5-canterbury-road-toorak/Property-Details-buy-residential-7679160" target="_blank">5 Canterbury Road</a>&nbsp;includes three bedrooms, a study, a formal lounge and a huge open-plan casual living area.&nbsp;

Browne, son of former Nine managing director&nbsp;Jeff&nbsp;Browne, bought the house in 2007 for $1.2 million. He has since renovated it.&nbsp;

Jeff Browne <a href="/news/television-executive-jeff-browne-sells-bondi-beach-apartment">recently sold his Bondi Beach apartment</a>.

Tom quit his job as a lawyer to follow his media dream, learning the ropes at WIN TV in Bendigo. He has been at Seven since 2010.

Tom Browne's Toorak home sale at $2.2 million

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The former Network Nine boss Jeff Browne has sold his Bondi Beach triplex apartment located opposite the Bondi Icebergs for around $4 million.
A New Zealand buyer flew into Sydney last month exchanging the same day through Paul Langsam, of Raine &amp; Horne Bondi Beach.
The apartment in the Graham Humphrey-designed triplex on <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/386349" target="_blank">Notts Avenue</a> failed to sell when listed last October.
It cost $3.2 million in 2011.
The north-facing apartment with ocean views was developed in 2004 by the Elterman family.
The block's penthouse set a Bondi Beach apartment record when bought in 2006 for $9 million by Spencer Young, founder and until recently chairman of hedge fund holding firm HFA.
Brown, who was Eddie McGuire's right-hand man in the brief stint at the Nine Network, is a former AFL lawyer and passionate Collingwood Magpies fan. He retains a base in Melbourne at his South Yarra sub-penthouse. 
In late 2010 he paid $5 million for a luxury apartment within Fridcorp's South Yarra complex on the north-west corner of 709 Chapel Street, near the southern end of the Church Street Bridge.
Tresor, a curvaceous and distinctive Elenberg Fraser-designed glass tower with 99 apartments, was approved despite concerns it would overshadow the abutting Melbourne High School and increase traffic to the already-busy Chapel Street and Church Street, Richmond, retail strips.
Browne is returning to Nine to run its AFL and NRL broadcasting right negotiations, according to the Australian media diary columnist Sharri Markson.
 
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Television executive Jeff Browne sells Bondi Beach apartment

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Fashion designer Collette Dinnigan has snappily sold her Paddington trophy home ahead of its scheduled 23 May auction through McGrath agent Ben Collier.
Her four bedroom sandstone Paddington Street house became redundant following her purchase at <a href="/news/collette-dinnigan-buys-watson-bay-trophy-home-from-matthew-csidei">Watsons Bay</a>.
Set well back from the street, <a href="https://www.mcgrath.com.au/buy/house-paddington-nsw-2021/185144/?preview=1" target="_blank">the four bedroom double-fronted residence </a>on 379 square metres cost Dinnigan $4.45 million in 2009.
It has been reported she secured around $6 million for the 1880s home, but Title Tattle gleans around $6.5 million was secured.
Dinnigan and her partner Bradley Cocks had it briefly listed in 2010. The property was sold by Ben Collier in conjunction with Will Manning at Ballard Property.
Title Tattle recalls it was bought from Peter Bracher who had bought the farmhouse cottage in 1989 for a then record $1,075,000.
It had been bought in 1975 for $82,000 by Hinke Zieck, the longtime Sydney ragtrader-cum-decorator and her husband Walter.
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Collette Dinnigan sells in smart time in Paddington

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Geoff Harris, the co-founder of Flight Centre, spent $12 million to upgrade in Albert Park last year.
And when the opportunity to buy the unrenovated home next door came up at auction today, the chance to expand appeared presumably irresistible.
There were just the two bidders, with local onlookers suggesting the new neighbour may have triumphed.
No confirmation from the selling agent Warwick Gardiner of Greg Hocking Holdsworth after the 302 square metre property sold for $4.21 million, well in excess of the anticipated $3 million plus expectations. 
A Victorian double-fronted, was marketed as the last unrenovated property in the trophy home square. 
Built in 1867, it originally was one of only three houses in the block between Montague Street and Merton Place, its first owner/occupier sailor, William Whitmore. It last sold around eight decades ago. 
Harris sits in 40th place on the BRW Rich List with an estimated $975 million net worth.
His $12 million purchase was of Hollyford, the much admired 1873 neighbouring residence, (pictured below) holds the mantle of the suburb's top sale.
Hollyford was built about 17 years after St Vincent Place was laid out, modelled on the English idea of houses clustered around its central landscaped gardens.
The heritage listed St Vincent Place home comes with rear Nicolas Murray-designed extension on its 480 square metre block.
The project involved restoring the front four rooms of an Italianate Victorian double fronted house along with a full width linear pond which marks the transition to the modern more informal living spaces which flows onto the garden and lap pool.
It previously sold in 2002 at around $2.2 million.
<img src="/images/2014/05/13/albert%20park%20may%2013%20two.jpg" alt="">
Hollyford, which has its 1873 construction date on its gorgeous vined facade, was the home of the mariner, Thomas Mowbray Hutchinson, according to the land title documents that Property Observer has researched. He owned the holding from 1867 to 1875, there with his wife, Honora and six children. He died in 1888 in Chusan Street, St Kilda with a subsequent 1899 court case over his estate.
<img src="/images/2014/05/13/albert%20park%20may%2013%20one.jpg" alt="">
Then pawn broker James Healy owned Hollyford for just 14 months. The Hammond family held the property from December 1876 until its sale to the Ryan family from Tipperary in 1899. It seems they gave the house its name as Hollyford is a small village in County Tipperary. The best known family member was George Ryan, who died in 1986, and was old enough to recall the picket fence left over from St Vincent Place's days as a racecourse. The Ryans sold around 2002.
Harris quit full-time duties at Flight Centre in 1998, and left the board in 2008. He remains a large shareholder of the company and has had subsequent success with Retail Zoo, the company behind Boost Juice  and Salsas Fresh Mex Grill.
His redundant Albert Park abode for $5,808,000, a five bedroom, tri-level Kerferd Road house.
He bought premises in inner Melbourne Collingwood which has been now rented out at $5 a year to the Reach Foundation, and then in 2013 the Victorian-era Collingwood former bordello building, Cromwell Manor, was made available to <a href="https://www.streat.com.au/cromwell" target="_blank">STREAT, an organisation that trains and employs homeless young people</a>, for just $5 a year for the 50 years. Cromwell House was bought for $2,585,000.
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Flight Centre's Geoff Harris extends wings on St Vincent Place, Albert Park?

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The Toorak home of Tony Suhan, the Australian importer and distributor of Advanti alloy wheels and Nexen tyres, has been listed.
It is a townhouse designed by Nicholas Day. There's three bedrooms, a home cinema, living and dining spaces and a private north-facing garden and an internally accessed basement double garage. 
It is a short walk to Toorak Village from its location.
 Marshall White agents Marcus Chiminello and Nicole French holds the <a href="https://www.marshallwhite.com.au/7e-woorigoleen-road-toorak-174607/" target="_blank">7E Woorigoleen Road listing</a>. There have been reported $2.7 million hopes for its May 9 auction, though Property Observer has been more recently advised they are anticipating buyer interest in the early to mid $2,000,000 range.
It cost $2.7 million in 2011.
There is around 310 square metre space in the 1999-built townhouse that first sold at $1.11 million.
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Toorak townhouse by Nicholas Day listed

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A Lovett Bay property once owned by the legendary actor Chips Rafferty has been listed for sale with $3.5 million plus hopes through Unique Estates.
The property, on Pittwater's western foreshore, was rebuilt the house into a modern residence cantilevered over the water by the retired businessman and yachtsman John Dunn and his wife, Bernice.
The couple had bought Laffing Waters for $550,000 in 1987.
Title Tattle recalls in 1949, Chips Rafferty and his wife, Ellen, bought the block for £1,205 and built their house.
Accessible only by boat, ferry or water taxi, the house has 180-degree views from every room, including the living room and the main bedroom suite, which has a sitting room and study. There's also a private deep water jetty and pontoon.
In 1998, the Dunns bought the neighbouring Sturdee Lane property for $350,000, extending the block to 2538 square metres.
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Laffing Waters, Chips Rafferty's former Pittwater home listed

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In 83rd place, the expatriate veteran Australian billionaire hedge fund trader Michael Hintze again tops the list of London's wealthy who have strong Australian links, in the latest Sunday Times 1000 Rich List.
Hintze ranked 92nd last year with an estimated worth of £1.23 billion, up from £175 million. He doesn't have a home in Sydney but has been particularly active in his NSW and Queensland rural property acquisitions.
His rapidly expanded east coast farming portfolio has been deemed an investment not just looking for capital gain from the properties but seeking solid returns on production.
The London-based hedge fund founder has amassed one of Australia’s fastest-growing farm portfolios, with acquisitions totalling about 50,000 hectares since 2007.
His private pension fund, MHPF, spent about $142 million on the land and water purchases.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">With an estimated worth of £1 billion, Urs Schwarzenbach, the Swiss-born financier based in Britain, and his Australian wife, Francesca, rank the second highest when it comes to those with strong Austalian links in the 2015 Sunday Times 1000 Richest in Britain list.
Title Tattle reckons we can call them both Australian's as the Schwarzenbach's are occasional Balmoral clifftop house occupants. They have extensive southern NSW rural interests having spent more than $35 million in rural property, mostly between Harden and Jugiong, which includes showpiece polo-playing estate Garangula, and Redbank, the homestead briefly owned by impresario Robert Stigwood. The couple maintain Redbank, the $5.1 million Jugiong property purchased in 1999, as the pastoral company's headquarters.
Of course Redbank was held by the Osborne family for 145 years before being sold for $2.8 million in 1981 to the Stigwood, who bought the property on Rupert Murdoch's recommendation while in Australia attending the premiere of the movie Gallipoli. It sold again in 1984, and again in 1988, for $4.69 million. Redbank hosted England's Prince Harry as a jackaroo in 2003.  The son of a print shop owner, Schwarzenbach made his fortune from foreign exchange trading after founding his own company, Intex Exchange. Urs sits at 108 in this year's Sunday Times list, up from the 115th place last year.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">Mike Cannon-Brookes, the 35-year-old IT entrepreneur - and Australia’s equal richest self-made billionaire under 40 – has debuted on the Sunday Times list in 189th place. Having co-established the software company Atlassian 12 years ago, Cannon-Brookes only recently spent $12 million of his wealth<a href="/news/braelin-the-mystery-12-million-centennial-park-trophy-home-sale"> to upgrade</a><a href="/news/braelin-the-mystery-12-million-centennial-park-trophy-home-sale"> to a 1918 Centennial Park trophy home</a> (pictured below). The Sunday Times gives his wealth at £591 million. His business partner Scott Farquhar sis a 192nd place with a £586 million estimated wealth.
<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/2015/03/12/centennial%20park_0015_16.jpg.jpg" alt="Braelin, the mystery $12 million Centennial Park trophy home sale?">
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34" style="line-height: 1.3em;">Danny Hill sits in 586th spot, with a £196 million wealth, down £37 million.  Monaco-based Hill left Belfast for Australia after school and built a fortune in property, mining and investments. He was involved in Perth record setting house deals back in the very early 1980s. As Title Tattle once noted Swan River mansion mania is not new. It was the house that theatrical entrepreneur Michael Edgley sold in Dalkeith for $2.1 million in 1979 to Japanese buyers. The Jutland Parade house sold again in 1980 for about $4 million, setting another Australian record through estate agent Willy Porteous, when bought by the mining speculator Danny Hill who at the time operated the El Caballa Blanco in the hills behind Perth. Apparently much of his wealth comes from providing housing in Queensland.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">Lord Glendonbrook, formerly Sir Michael Bishop, with a current steady wealth of £200 million, ranks 476th. He was the chairman of BMI, the Midlands-based airline now owned by British Airways. Lufthansa took it over in 2009, paying £223 million for his stake. The Tory peer, 71, made £32 million from the 1998 flotation and 2001 sale of British Regional Airlines. Lord Glendonbrook lives in Darling Point for a substantial part of the year. Lord Glendonbrook was born in the village of Bowdon, near Manchester, and raised the only child of an Englishwoman, Lilian, and an Australian, Clive, who, as a teen, escaped an unhappy childhood in Melbourne, headed north and landed in Glendonbrook, to work on a farm. In 2010 he was appointed a peer of the realm in the UK, but with so many Bishops already in the House of Lords, he decided to take another title. His thoughts turned to the NSW Hunter Valley hamlet he first visited in 1965. He received permission to call himself Baron Glendonbrook of Bowden in the county of Chester.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">In 420th place is young gun fund manager, Hilton Nathanson the co-founder of Marble Bar Asset Management, who sold his stake in 2007 to a Swiss bank for about $245 million. He hails from Melbourne. His worth is put at £230 million.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">The Lonely Planet founders and philanthropists, Maureen and Tony Wheeler appear in the London list, although generally regarded to have settled in Melbourne's Hawthorn where they paid $1.47 million back in 1999. They rank 842nd with a steady £112 worth. The Belfast-born Maureen  and her husband Tony sold their Melbourne-based Lonely Planet publishing empire for £131 million. Tony and Maureen Wheeler started Lonely Planet after selling 1500 copies of their first book, Across Asia on the Cheap, which arose from their honeymoon trip.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">Seumas Dawes, the London-based Australian merchant banker, who made his fortune at fund manager Ashmore group sits in equal 787th place with a steady £124 million worth on the Sunday Times Richest 1000 list, but down from 739th place last year. Property Observer reported that Dawes had poured splurged some of his net worth in a serious Bronte acquisition. The funds manager and his wife, Rosemary initially spent $12.3 million for a large, modern three-storey residence in 2006. Unquestionably one of the most expensive coastal suburbs in Sydney's east, the <a href="/news">Bronte </a>property sits along the exclusive strip known as The Cutting. It was a modern five-bedroom residence on the ocean side of Bronte Road overlooking the beach and ocean. Then earlier this year the couple splashed out with the $16.5 million purchase of the neighbouring house, which they're set to bulldoze and expand their garden and garaging in grounds prepared by Formed Gardens. The new works which include gym and cabana, improve the neighbouring contemporary houses's north eastern aspect. It's only going to cost $846,000 apparently, which will take their spend to $29.6 million.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">Buying only recently in Sydney, Lord Alli, sits in equal 436th place with a £220 steady worth. The British media entrepreneur and multi-millionaire Baron Waheed Alli purchased an apartment in the Dominion development at Darlinghurst. He is the co-founder of Planet 24, one of Britain’s largest TV production companies, responsible for hit shows such as Survivor. Dominion – developed by Cbus Property – will consist of 108 apartments split across three buildings, each seven levels high close to Oxford Street. Property Observer reported that Lord Alli used his interior designer, Jonathan Adler from New York, to help with the finishing touches of his fifth floor Darlinghurst apartment
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">Len Blavatnik was named Britain's wealthiest man in the Sunday Times rich list with a worth of £13.7 billion, according to the list which had a cut-off wealth of £100 million. The 57-year-old, who became a US citizen in 1984, started an investment company, Access Industries, two years later, eyeing the opportunities offered by the sell-off of Soviet state-owned industry. At his 50th birthday party, she surprised him by dancing with a troupe of professionals in a Ballets Russes adaptation. He owns a £41m mansion in Kensington Palace Gardens and recently paid $77m for a five-bedroom duplex in New York. Blavatnik’s 10 quoted and private company stakes are worth £9bn. With £3bn of cash, £440m of property and other assets, he is worth £13.17 billion.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">Oh and other entreprenuer from our distant corner of the earth was Eric Watson, the now London-based New Zealander, who has assets in finance, property and retail in 386th place with a £259 million worth, up £19 million. He became known when taking a majority stake in NZ Warriors, the Auckland rugby league team.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">The falling rich Mark Creasy lives in Perth's Peppermint Grove, down £177 million. With a £248 million net worth, Mark Creasy, the mining entrepenuer ranks 406, having peaked a couple years back at 173rd on the list. The British-born Creasy, 68, made his fortune prospecting for gold in Australia, selling a claim in the outback for £50 million in 1994. Sirius Resources, a mining company, discovered nickel deposits on a site in Western Australia.  The veteran investor Mark Creasy had been climbing the ranks in Rich List as he was 680th richest person in 2006, with a then personal fortune of £85 million.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">The Scottish-born engineer Bill Paterson - and co-founder of WorleyParsons who went off to run his own engineering consultancy in Sydney - was once ranked at 275 place. But his fortune once estimated at £308 million slipped £90 million to £110, with Paterson in 856th place.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">That high flying hedge fund guru - who took early retirement - Greg Coffey no longer ranks on the list. Some of his fortune was spent when the high-flying Australian finally secured his Balmoral compound, Title Tattle reported. It was sealed with the acquisition of a $3.5 million Burran Avenue holding taking his property consolidation to a four-lot 4,400 square metres that cost $17.8 million. The purchases included a strategic 610-square-metre holding to the hillside compound, which began with the purchase of the Merdjayoun estate in 2005.
<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/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34">Jon Aisbitt, best known for his stint at Goldman Sachs in Sydney, no longer sits on the list which required a £100 million worth. He was really only a nominal Australian with a short stint spent on Sydney Harbour. It was 2002 when the London-bound departing Goldman Sachs co-chairman and his wife, Julie, secured $13.5 million for their Point Piper base. The Wunulla Road house was renovated before and after its $9.6 million purchase in 1999 by architect Luigi Rosselli, who appeared before a subsequent Land and Environment Court hearing to argue for its heritage listing. The house was built for the Rose family in the early 1960s by architect Adrian Snodgrass, who was influenced by the Wrightian style of the Sydney School of Architecture. Aisbitt, 56, chairs the Man hedge fund. He made £50 million from Goldman Sachs' flotation, £15 million from share sales and £55 million from investments in Ocean Rig and Redburn Partners, according to the list.
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Mike Cannon-Brookes arrives, but Sir Michael Hintze again tops Australians on The Sunday Times 1000 Rich List

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The downsizing News Ltd economic columnist Terry McCrann has listed his longtime Camberwell family home.
It last traded in 1980 at $86,250.
It has been listed by Jellis Craig agents Chris and Michael Hingston who are telling inspectees around $2 million is expected at its 16 May auction.
Houses on the road have sold for as high as $2.3 million, with the last sale a $1.95 million in late 2014.
Nothing about picking the potential peak in the ever-confident eastern suburbs Melbourne residential market, just apparently time to permanently move for the family.
Imagine all the columns written in the home office - he reaches a bigger audience than any other columnist in Australia. Educated at Melbourne Grammar and Monash University where he obtained an Honors Degree in Economics, he has worked for the Sun News-Pictorial, the National Times, The Age and then at Rupert Murdoch’s News Corporation ever since 1987.
There was even a time in the crazy days of the late 1980s boom when his Camberwell phone was bugged.
A bugging device was attached to the telephone pole across the road with conversations taped in the secret operation code-named Willeton coming at the height of the Bond Corporation battle against the Holmes à Court cash-rich company, Bell Resources Ltd.
The device on Terry McCrann's phone was discovered by Telecom workers checking the line who reported it to the Federal Police.
Set behind bushy gardens, the four bedroom home comes with free standing studio served by its own bathroom on the 950 square metre block. The McCrann's are likely to live in a city apartment where they will be close to the art galleries where Tittle Tattle often sees the art devotees in between his economic edicts. The latest was <a href="https://www.heraldsun.com.au/business/terry-mccrann/get-used-to-a-year-of-uncertainty/story-fni0d8gi-1227314274966" target="_blank">the economentariat hadn’t got the memo</a>: "2015 was — and still is — going to be the year of month to month uncertainty about interest rates.
"The economentariat was broadly taken by surprise by the opening February rate cut.
"It was again, broadly, surprised — and narked — by the RBA’s “failure” to deliver a second cut in March.
"And then was quite beside its collective self that it again failed to cut in April."
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Downsizing Terry McCrann lists longtime Camberwell home 

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The three-bedroom Bondi Beach apartment in The Bondi of the Fitness First founder Tony de Leede has been listed for sale.
The entrepenuerial Tony De Leede, also founder of Queensland's Gwinganna Lifestyle Retreat, has $4 million-plus hopes through Raine &amp; Horne agent Ric Serreo for the 180 square metre space.
He paid $2,725,000 for <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/doublebaybondibeach/properties/390926" target="_blank">the Campbell Parade PTW-designed apartment</a> in 2010, which comes with limed American Oak floors.
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