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.

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[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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McGrath Estate Agents now expects more than $850,000 for Lara Bingle's Darling Point apartment.
The agency initially was quoting more than $825,000 for the stylish one-bedroom that is set for <a href="https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/225301/?searchID=39312079" target="_blank">14 June auction through Richard Bonouvrie</a>. 
The model bought it from interior designer Blainey North for $882,000 in 2010, soon after her break-up with Test cricket captain Michael Clarke.
It is a Goomerah Court company title art deco apartment apartment with city and harbour views from most of its 65 square metre space. 
There have been two other McGrath sales in the block when $925,000 was secured for <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/76865" target="_blank" style="line-height: 1.3em;">a two bedroom unrenovated listing</a> and then a <a href="https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/193910/?searchID=38820498" target="_blank" style="line-height: 1.3em;">renovated two bedroom sale last October</a> at around $800,000 which Title Tattle suggests would explain the initial pricing estimate.
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jchancellor-FAypfDUnLy

Lara Bingle Darling Point apartment gets upward price guidance revision

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Leichhardt has a new suburb record with the current record-holder home selling on the long weekend for $3.05 million.
Set on 658 square metres, the four-bedroom, four-bathroom home <a href="https://www.realestate.com.au/property-house-nsw-leichhardt-116876611" target="_blank">sold through Ray White Inner West's David Eastway</a>. With that much land it is about three times bigger than the typical Leichhardt block.
It was sold by the banker Ashley Salter and his wife, Paspaley Pearls creative director, Christine Salter.
{qtube vid:=ZXtDXy8QCE}
The former Victorian fire station had been renovated by French antique furniture importers Bob and Helen Hargreaves, of Le Forge, who sold in 2007 for<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-leichhardt-nsw-2040/50202" target="_blank"> a record $2.45 million</a> through McGrath.
Title Tattle gleans the highest sale in the interim was $2.25 million on <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-leichhardt-nsw-2040/121074" target="_blank">Henry Street</a> in 2011 through McGrath who had unfulfilled $2.65 million hopes for the colonial home.
The Queens Birthday weekend auction offering came with a swimming pool, Annie Wilkes-designed gardens, separate guest house and French manor-inspired interiors.
The manor home was originally the suburb's 1895 fire station. The property, with frontage on Carlisle and Marlborough streets was bought by the Hargreaves from the army in 1993 for $326,000. It was an army drill hall during World War I. 
Sydney agents secured 73.7% success rate from the initial 300 results. There are another 93 results yet to be tabulated by Australian Property Monitors.
Melbourne agents secured a 69.9% result with the top sale at $1.74 million at Brighton.
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Leichhardt forges another residential record for former fire station

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It was a bit like a five setter, but tennis star Lleyton Hewitt has finally sold his long-vacated $3 million West Lakes house in Adelaide.
The home in Adelaide’s west had been listed through <a href="https://www.harcourts.com.au/Property/534402/SSM081008/29-Martin-Court" target="_blank">Harcourts Aqua agent Steve von der Borch</a>.
His hometown Adelaide property was first listed in November 2008 with a $2.95 million to $3.24 million price range.
It has been sold for about $2.5 million, Fairfax Media reported. The 29 Martin Court property with its 801 square metre block was bought in 2003 for $3.2 million.
It has been vacant for most of the time with Hewitt and his wife Bec having no plans to return to the luxury home. The poolside mural featured on Property Observer's recent roundup of <a href="/expert-insights/should-you-paint-over-that-artwork-before-selling-your-home-five-examples-of-murals-currently-on-the-market">homes with murals currently on the market</a>.
RP Data puts the <a href="/developments/west-lakes-sa-5021">West Lakes</a> median house price at about $610,000.<a href="/news"> </a>
The home was delisted last October when Hewitt’s parents Glynn and Cherilyn Hewitt gave permission to upload interior photos of the 29 Martin Court property as part of the marketing.
“We’re not selling a secret anymore and we can make a bit of noise about it, so we’ve put it up online and will put it up on an international website and very likely it will form part of what we’ll take to China for a property exhibition in Shanghai in December,” Mr von der Borch told the local paper.
The family live in Nassau, in the Bahamas, with their three children — Ava, Cruz and Mia. They retain homes at Kenthurst and Palm Beach in Sydney. Their St Kilda Road, Melbourne apartment on the 19th floor of Yve is quietly for sale.
The home with 700 square metres of living space has five bedrooms, four bathrooms, an indoor lap pool, spa, and sauna area with mural, rock wall water feature.
<a href="https://www.propertyobserver.com.au/images/stories/2013/10/02/west-lakes-oct-2-floorplan-big.gif" title="Click to enlarge" rel="shadowbox"><img src="https://www.urban.com.au/images/stories/2013/10/02/west-lakes-oct-2-floorplan-small.gif"></a>
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Lleyton Hewitt sells long vacated West Lakes, Adelaide former home for a loss

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Wing House, the Byron Bay trophy home designed by architect Peter Stutchbury, has been sold for $5.9 million to a local buyer.
Overlooking Wategos Beach, the four-bedroom house comes with 20 metre lap pool.
The hillside location cost $1.35 million in 2001, with the Stutchbury-build in 2012.
It was sold by Robert and Deborah Wild <a href="https://uniqueestates.com.au/buy-residential-real-estate/house-59-brownell-drive-byron-bay-nsw-13058110346" target="_blank">through Nicolette Wijngaarden of Unique Estates</a>.
Wing House, which takes its name from its wing-shaped roof, was originally listed with hopes above $7 million, but was then revised to offers over $6 million. 
The Wilds, joint directors of the Australian College of Massage, have bought <a href="/news/tom-misner-secures-byron-bay-8-million-small-acreage-record-sale">a </a><a href="/news/tom-misner-secures-byron-bay-8-million-small-acreage-record-sale">luxury home at Coopers Shoot </a>with an infinity pool and views across Byron Bay for $7.9 million (pictured below).
<img src="/images/2014/03/17/byron-bay-march-17-breakout.jpg" alt="Tom Misner secures Byron Bay $8 million small acreage record sale">
Last month at the hotly contested Asia Pacific Property Awards 2014-2015, Unique Estates Australia was among the winners in the categories of best Australian real estate agency marketing and also best Australian real estate agency <a href="https://uniqueestates.com.au" target="_blank">website</a>.
<img src="/images/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34" style="float: left;">Title Tattle gleans a residential record was set within the Byron township last week, but it wasn’t beachfront.
Set in the old part of Byron Bay, a home on a 1,000 square metre lot at <a href="https://www.realestate.com.au/property-house-nsw-byron+bay-115104447" target="_blank">60 Kingsley Street</a> (pictured below) sold at the $3.5 million asking price through Graham Dunn and Jeremy Bennett at Byron Bay Property Sales to Melbourne buyers. It last sold at $840,000 in 2002, with the rebuild winning a HIA renovation award.
<img src="/images/2014/06/06/byron%20bay%20june%206%20one.jpg" alt="">
 
"They had been looking for about 18 months. They had done their homework, they saw the market was moving so they jumped in," Dunn told Title Tattle. 
The prior township record was $2,705,000 on Cooper Street which also sold through Byron Bay Property Sales.
<img src="/images/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34" style="font-size: 14px; margin: 5px; float: left;">
Escaping the southern winter cold, Melbournite Ned Rockman recently purchased through Byron Bay Property Sales. “I’ve loved it up here for many years” he says.
It is a five hectare holding at Newrybar which cost $1.75 million last year. “I’m almost 45 and I don’t want to spend the second half of my life in Melbourne. I want to spend it here”.
Rockman is not the only well-known Melbourne purchaser of late. Portland House director Stephen Hains, son of intensely private Melbourne billionaire investor David Hains, has also bought into Byron Bay. 
Hains spent nearly $2.77 million on a beach house at Belongil, despite nearby coastal-erosion issues. He got a three-bedroom 1962 coastal shack on 1922 square metres on Childe Street. 
Flight Centre co-founder Graham Turner's wife Jude also bought a beach shack for $2.77 million on the Belongil peninsula, on the edge of the Byron township in 2012.
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Wing House, the Peter Stutchbury-designed Byron Bay trophy house sold

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Catherine Verschuer, wife of Westpac's managing director of foreign exchange and commodity Paul Verschuer, has emerged as the $5.2 million buyer of the Reserve Bank's Kirribilli property, Eversley. 
<a href="/expert-insights/buying/rba-sells-kirribilli-mansion-securing-impressive-7-8-annual-price-growth">It sold at March auction</a> through Kingsley Yates of Ray White Lower North Shore.
The couple own a nearby Victorian terrace on Peel Street which cost $2,775,000 in 2007.
Last year Title Tattle featured the Verschuers when they bought <a href="/news/nsw/notting-lane-cottage-point-waterfront-with-disco-sold-for-3-35-million-by-drew-muirhead">the Cottage Point mansion</a> of entrepreneur Drew Muirhead for $3.35 million.
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Westpac foreign exchange dealer buys RBA's Kirrbilli mansion

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The sale of the Potts Point Georgian villa Rockwall House appears a little less mysterious, with word from the neighbourhood that an Elizabeth Bay mining tycoon is its buyer.
It sold for an undisclosed $10.2 million last month, the suburb's third-highest house price.
The biggest clue came when the contents of the 1830s-era house were recently auctioned through Mossgreen Auctions.
Title Tattle noticed the keenest bidding came from mining industry magnate, Stephen Turner, a non-executive director of Iluka Resources Limited, the world’s largest producer of zircon, and his wife, Phi Phi, aka FiFi.
<img src="/images/2014/06/05/potts-point-june-5-one.jpg" alt="">
Stephen and Phi Phi Turner at the Rockwall House, Potts Point contents auction
 Stephen Turner has delivered resource projects in Australia, Southern Africa, Fiji, New Caledonia and the Solomon Islands. 
He headed International Ferro Metals Limited for seven year, which produces over 3% of global ferrochrome supply. He's non-executive chairman of Vantage Goldfields Limited, an Australian gold company operating in South Africa. The charter accountant was a founding director of the Australian subsidiary of PSG Investment Bank, then South Africa’s fifth largest investment bank.
The property developer Mirvac, who built the adjacent Rockwall apartment complex, had its restoration overseen by heritage architect Howard Tanner.
The heritage-listed villa designed by architect John Verge last traded in 1999 when bought it for $2 million.
Relisted last December <a href="https://www.blacketglasgow.com.au/property/Potts%20Point/Rockwall/listing" target="_blank">through Peter Blacket of Blacket &amp; Glasgow</a>, it was offloaded by antique enthusiast Lilian Barclay-Rollason, the partner of solicitor John Rollason, who first sought to secure its sale in 2011 with $13 million hopes.
The couple married at the house on April 26 in 2008, though the title remained in her name only.
John Cameron Rollason was for a number of years a partner at Gadens and then a contractor consultant to Lane &amp; Lane from 1996.
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Miner Stephen Turner mooted Rockwall House, Potts Point trophy home buyer

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The Australian Ballet School has spent $4.7 million on a Melbourne mansion. It was assisted by a one-off grant of $1 million from the Federal Government. 
<a href="https://www.propertyobserver.com.au/https://twitter.com/LeighJohns/status/472275709360996353" target="_blank">The Federal Arts Minister George Brandis has been photographed standing with Australian Ballet School representatives in a tweet</a> outside the 'sold' sign in front of the Parkville mansion.
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There was also a $1 million donation from a benefactor to assist in the purchase of the Queen Anne home set on 2,025 square metres at 262 The Avenue.
The six bedroom, two bathroom house was sold after it passed in at late May auction at $4.7 million <a href="https://www.jelliscraig.com.au/property/PARKVILLE-262-The-Avenue/7014409/#.U4-Tq1xK6qQ" target="_blank">through Ryan Currie and John Morello of Jellis Craig Kensington</a>.
It was marketed initially with around $4 million price expectations.
Renovations will be required to turn it into a boarding residence, housing students enrolled at the Australian Ballet School which is based at Southbank.  
Full-time students of The Australian Ballet School, aged between 13 and 18 years, come from all over Australia and a small number from overseas.
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Some 80% of students come from outside Victoria; a further 5% of students are from outside metropolitan Melbourne. 
Each year approximately 10% to 15% of offers to enter the school are declined often due to accommodation issues.
Close to 75% of the funds needed to complete the project are banked, with the school to now launch a further funding campaign chaired by Betty Amsden.
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The residence will be ready for habitation in 12 to 18 months. 
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Australian Ballet School buys $4.7 million Parkville mansion 

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The bookish television personalities, Andrew Denton and Jennifer Byrne have sold the Double Bay property.
It sold just prior to last night's scheduled auction, after their busy Sydney Writers' Festival, but allowing the couple to be at home to watch The Book Show.
The price has not been disclosed by the <a href="https://rwdbgroup.com/nsw/double-bay/1134573/" target="_blank">Ray White Double Bay selling agent James Keenan</a>.
Buyers were being told to expect to pay $4 million plus after initial $3.8 million plus indications.
They have owned the house since 1998 when the 506 square metre property cost $1.845 million after moving from McMahons Point where they sold in 2001 for $1.57 million.
With four bedrooms, four bathrooms, the property also comes with a self-contained apartment on the lower ground floor.
The celebrity duo’s Tudor-look private oasis has formal and informal spaces and a billiard room showcasing high ornate ceilings and original fireplaces.
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Andrew Denton and Jennifer Byrne sell Double Bay home

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The Simon family have seemingly sold their vast concrete Point Piper harbourfront trophy home for around $30 million, some eight years after the initial listing.
Property Observer gathers its been bought by a current Wolseley Road resident.
It once had $60 million price hopes, reduced to $42 million by 2011, and then $38 million by mid-2013.
One listings<a href="https://www.domain.com.au/property/for-sale/house/nsw/point-piper/?adid=2011013194" target="_blank"> website suggests 130 Wolseley Road is under offer</a> through Sothebys, ending <a href="/news/the-altona-aftermath-buyers-baulking-at-the-ambitious-asking-prices-sydneys-top-20-house-sales-in-2013-he-said-she-said">the peninsula's sales impasse that became embedded with the bullish sale of the $52 million trophy home, Altona in early 2013</a>.
This year's two big trophy home sales have both been in Bellevue Hill.
The 933 square metre Point Piper property last sold in 1996 when the estate of the late FAI chairman Larry Adler secured $12 million from Peter Simon and his wife, Ruth, owners of the light-switch business HPM Industries, then Australia's 99th largest private company with its $170 million annual revenue. Adler's widow, Ethel had decided to stay in their Vaucluse residence which was bought in 1963 for 17,850 pounds.
Mr Adler had built after he bought the Wolseley Road block in early 1988 for $5.1 million from Westfield supremo Frank Lowy.
Frank Lowy had paid $2.675 million for it three years earlier then obtaining permission for a new residence.
The property title is in the name of Marion Richmond, following the death of her parents, Peter, then Ruth Simon.
The vast five-level concrete house now stands in the most verdant patch of Wolseley Road, neighbouring Duff Reserve, a popular fishing location.
The location in the 1950s saw respected architect Douglas Snelling undertake alterations and additions to a Victorian house at 130 Wolseley Road, Point Piper for Bernard Audette.
The six-bedroom, nine-bathroom waterfront, with boatshed, pontoon and electric winch, has Gergely &amp; Pinter Architects-design origins.
It is the architectural firm that is currently at work on the high side of the road.
Demolition began last month on the Wolseley Road, Point Piper mansion owned by the son of a former vice-president of China, Zeng Wei and his wife, Jiang Mei, <a href="/news/chinese-leadership-princeling-demolishes-point-pipers-craig-y-mor-mansion">who are building</a><a href="/news/chinese-leadership-princeling-demolishes-point-pipers-craig-y-mor-mansion"> a $5 million Gergely &amp; Pinter designed house.</a>
 
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Simon family Point Piper sale swings pendulum back to the harbourfront

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The BRW rich-lister Mark Rowsthorn has sold the former Golden Crust bakery in Armadale, in Melbourne’s inner south-east, for $11.5 million.
The bakery, built in 1915, was converted into a luxury five-bedroom residence by architects Jackson Clements Burrows in 2010 (pictured above).
Title Tattle gathers it has been bought by the Toorak couple, Sara and Clark Kirby. He is the chief operating officer of Village Roadshow. Their $2,695,000 plus redundant Toorak offering remains for sale after failing to sell at last month's Marshall White auction.
It was last sold in 2006 at $4.5 million to Rowsthorn and Allison Gibson through Kay &amp; Burton by the antique dealers Edward and Peta Clark who had 69 Sutherland Road as their home and gallery. The Clarks <a href="/news/vic/industrial-era-windsor-factory-abode-listed-with-3-5-million-plus-hopes">moved to Windsor</a>, selling to their interior designer daughter, Tamsin Clark and her husband Patrick Johnson for $3.1 million in early 2013.
Built in 1915, the former Golden Crust Bakery was largely untouched when the Clarks bought the 915 square metre holding in the mid-1980s.
It still bears the original bakery signage on its brick exterior, the Australian Financial Review wrote.
The other bakery sale was at the weekend when 1A College Place, Albert Park (pictured below) sold at $3,705,000 through Greg Hocking Holdsworth to Julian Cress, co-creator of the Channel Nine series, The Block. 
The vendors had bought The Block contestants Kyal and Kara's apartment in last season's finale.
With separate living and dining spaces, <a href="/expert-insights/buying/albert-park-former-1896-bakery-listed-in-the-block-aftermath">the five bedroom property had been tipped to fetch more than $2.9 million at its auction</a>.
<img src="/images/2014/05/20/albert%20park_0000_1.jpg.jpg" alt="Albert Park former 1896 bakery listed in The Block aftermath">
There is an upstairs retreat at the 300 square metre holding with ivy-covered red brick house that was the Albert Park bakery between the 1890s and 1920s. The property originally fronting Kerford Road. 
<a href="https://www.realestate.com.au/property-house-vic-albert+park-116896327" target="_blank" style="line-height: 1.3em;">Warwick Gardiner, of Greg Hocking Holdsworth, had the listing</a> which traded at $860,000 in 1998.
Julian Cress and Sarah Armstrong have been renting in Albert Park.
Super Saturday had 1,159 properties scheduled to go under the hammer, the third highest weekend for auctions this year.
Australian Property Monitors reported Melbourne has conducted more auctions over the first five months of this year than over the same period in any previous year. 
There was a preliminary weekend clearance rate of 74.4%.
Photo of Golden Cruset Bakery, Armadale © Shannon McGrath. Architect Jackson Clements Burrows Pty. Courtesy of Facebook.
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