<a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a> has announced that its <a href="https://www.apartments.com.au/new-townhouses/lovedale-farm-1054-1184-wine-country-drive-lovedale-nsw-2325">Lovedale Farm</a> residential, resort and golf project has secured $24.6 million in sales in just three weeks since the opening of its display home, underscoring the appetite for premium lifestyle property in the Hunter Valley countryside.

The sales milestone has been driven by a diverse mix of buyers, including owner-occupiers and investors from Sydney, Newcastle and the local Hunter region, purchasing both land-only lots and house and land packages across the development.

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="e173edc9-e60e-4f19-a060-9dc4421a3233" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/LovedaleFarm_20250215-1.jpg?VersionId=1LY6CvOaD.Dzrt8tWpWxXtPyfchixNIo" />

&nbsp;

The result builds on the momentum generated at the display home opening on 22 March, which attracted more than 460 attendees.

With house and land pricing from $1.14 million, Lovedale Farm continues to attract strong interest from buyers seeking a premium lifestyle offering at a compelling price point. The development’s vision, a championship golf course, future epicurean village and access to the Hunter Valley’s celebrated wine country, has resonated with a broad buyer profile, from first-time investors to those looking to make the move and call the Hunter Valley home.

<img alt="Lovedale Farm records $21.4 million in sales in three weeks" data-entity-type="file" data-entity-uuid="b358e789-e1eb-40ed-8105-ed5c8297136f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--6.jpg?VersionId=6GUO8TNnxuELONrsM6n9imDB6oc82Bor" />

Jim Hunter, Managing Director of Capital Corporation said the response since opening the display home has been encouraging.

"To reach $24.6 million in sales in just three weeks speaks to the genuine demand for a lifestyle community of this calibre in the Hunter Valley," Hunter says.

"We’re seeing buyers from across the region and beyond, including investors who recognise the long-term value, and owner-occupiers who simply want to live somewhere truly special.

“Lovedale Farm is two decades in the making, and the market’s response is everything we hoped for. We’re excited to see these first buyers become part of the Lovedale Farm story from the very beginning."

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="54d985cf-2ac2-400b-ac02-4401f3421ac7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--5.jpg?VersionId=3866bPoqpLZsm.3ACg9EafAr1W3miC_f" />

&nbsp;

Spanning 240 hectares on Wine Country Drive in <a href="https://www.apartments.com.au/developments/lovedale-nsw-2325">Lovedale</a>, the $1 billion development is expected to deliver around 1,250 jobs during construction and inject more than $300 million into the local economy. The first 200 homes and championship 18-hole golf course are anticipated for completion in late 2027.

Capital Corporation has also lodged development plans for the Lovedale Farm clubhouse, set to become a vibrant hub for residents and the wider Hunter Valley community. Further releases are planned for later this year.

[smartcode_project_cta:default project_id=14476]

Joel Robinson

Lovedale Farm display home opening triggers $24.6 million in sales in three weeks

Prominent Malaysian developer <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a> has unveiled <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">Aura</a>, the next stage of its $3.5 billion Melbourne Square precinct in Southbank, continuing its push into wellness-led, amenity-rich apartment living.

The $800 million tower, planned for 7 Hoff Boulevard, will rise 67 storeys and deliver 673 apartments, with COX Architecture drawing on both Japanese design principles and Australia’s natural landscape to shape the building’s identity. A rectangular grid aesthetic defines the building’s exterior, with COX drawing design cues from New York high-rises and Tokyo’s skyline.

Aura builds on a growing trend in high-density living, where wellness is no longer an add-on but central to the product. The development is structured around four key pillars, combining calm, minimalist residences with layered communal spaces, landscaped gardens, and a suite of wellness amenities designed to support both physical and mental wellbeing.

[smartcode_project:default project_id=151921 project_image_fid=367465]

At the core of the project is what OSK describes as a vertical wellness ecosystem, a multi-level approach to amenity that integrates health, lifestyle, and social spaces throughout the building rather than confining them to a single level.

The main resident hub, the Aura Club on level seven, will include a pool, cold plunge, spa, gym, Pilates and yoga studios, alongside more lifestyle-driven inclusions like a golf simulator, music rooms, library, and work-from-home spaces. Above, a series of higher-level amenity zones, including the Meridian Club and Cumulus Club, introduce more refined, social and retreat-style environments, with private dining, lounges, and premium wellness spaces positioned to take advantage of city views.

[smartcode_project:default project_id=151921 project_image_fid=367467]

The residences themselves will largely include balconies, a key design move in a market increasingly focused on natural light, airflow, and connection to the outdoors. Views will extend across the CBD, the Arts Precinct, Royal Botanic Gardens, and beyond.

Aura also introduces approximately 1,600 sqm of retail across the lower levels, further activating the Melbourne Square precinct, which already includes Kennedy Park, a Woolworths, childcare, and a growing mix of hospitality operators.

[smartcode_project:default project_id=151921 project_image_fid=367474]

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after <a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>," says&nbsp;OSK Property CEO Chong Boon Woon.

“We have been very encouraged by the market’s response to the BLVD offering, and we know there is a strong demand for the level of amenity, service and design that the Melbourne Square precinct is known for.

“Complemented by work-from-home lounges for professionals, family friendly outdoor garden spaces, and state-of-the-art fitness and wellness facilities, Aura will continue our focus on maximising physical, emotional, and mental wellbeing,” he said.&nbsp;

[smartcode_project:default project_id=151921 project_image_fid=367475]

The project follows the strong performance of BLVD, which is now around 80 per cent sold, and reinforces OSK Property’s long-term commitment to Melbourne Square as a fully integrated, mixed-use precinct.

Construction is expected to commence in late 2026.

[smartcode_project_cta:default project_id=151921]

OSK unveils AURA, the latest stage in Southbank's $3.5 billion Melbourne Square precinct

National developer Time &amp; Place appears to have settled on a design for its long-anticipated Potts Point project.

After several years of back and forth with local council and the NSW Government, the developer, which has spent seven years targeting the former The Chimes site on Macleay Street, has now progressed its plans.

Following a concept design submission last year by SJB, Time &amp; Place has lodged a full State Significant Development Application with the NSW Government, this time for a scheme designed by Kerry Hill Architects.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="504d2a27-d65f-4227-8189-1e35e3376e62" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.38.24%E2%80%AFAM.png?VersionId=_XqFKATYHF30KnVByPxhaI9UBzmkmfn7" />

The 16-storey proposal includes 44 apartments, 21 of which will be build-to-sell. These will comprise 19 three-bedroom apartments and two four-bedroom penthouses.

More than 50 per cent of the development will be dedicated to affordable housing, with 23 studio apartments to be delivered in line with the NSW Government’s Housing SEPP.

Kerry Hill Architects said the proposal is driven by a strong response to place.

“Our proposal for a new residential building for Potts Point in Sydney is driven by a deep consideration of place,” the practice said in its submission.

“This operates on multiple levels, including a landscape approach that reinstates endemic flora of the Sydney peninsula and provides a ground-floor garden for residents, reconnecting the site to its pre-European history. A brick podium further strengthens this relationship to context, integrating planting and fine bronze detailing that references the predominant material language of Macleay Street.”

The three-level podium will be topped by a communal resident space, featuring a covered pool designed to receive direct afternoon sun in winter, a neighbouring reflection pool, dining and event areas oriented to maximise sunset views, and an outdoor exercise zone.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="8d3eedc1-babb-44a3-bd96-d8a42f3adf1f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.37.48%E2%80%AFAM.png?VersionId=Ii7.4dvqNatu5GQi6bhqNjAswrMB998." />

The design also incorporates highly crafted shopfronts and a clearly defined residential entry to activate the street. Juliette balconies to the podium residences will provide passive surveillance and a strong sense of habitation.

Above, the larger apartments are housed within a light-coloured masonry and bronze tower.

“The tower steps back in a series of gently curved volumes that reference the rich Art Deco context of Macleay Street,” the architects said. “Carefully calibrated vertical fins frame the views while providing privacy and a sense of refuge.”

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="6fab60f4-3140-4469-b47a-48c781e0a30b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.28.44%E2%80%AFAM.png?VersionId=e5XxrM3kzdASdKlcIACHAHbOSZhSKC9O" />

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in South Melbourne.

The developer has approval for The Burke, a mixed-use project in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;being delivered in partnership with Woolworths. The 60 apartments, positioned above a new Woolworths supermarket, are expected to launch in the coming months. Time &amp; Place is also progressing plans for the redevelopment of&nbsp;<a href="https://www.apartments.com.au/developments/northcote-vic-3070">Northcote</a>&nbsp;Plaza, and have recently submitted plans for a <a href="https://www.apartments.com.au/news/vic/time-place-unveils-plans-22-storey-south-melbourne-tower">22-storey tower</a>, another in South Melbourne.

In&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw">Sydney</a>, the developer has two projects in Manly: Two Tides, which is currently under construction, and an ultra high-end building on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach. It is also continuing to work through the redevelopment of The Chimes building on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as Marlborough House, the redevelopment of the original David Jones warehouse building in&nbsp;<a href="https://www.apartments.com.au/developments/surry-hills-nsw-2010">Surry Hills</a>.

First look: Time & Place settles on design for The Chimes, Potts Point redevelopment

<a href="https://www.apartments.com.au/developers/develotek">Develotek</a> is joining the likes of TOGA, Deicorp, and One Global Capital, betting on a boom in Five Dock ahead of the 2032 mooted opening of the Five Dock Metro Station.

Develotek, which is currently developing Bianca on the Drummoyne waterfront and has plans approved for a tower in Chatswood, has filed a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/79-81-queens-road-five-dock-nsw-2046">two-building project in the evolving Kings Bay precinct</a>.

The buildings, one more boutique just five storeys and the other 26 storeys, will rise from an 3,158 sqm site across&nbsp;79–81 Queens Road and 2–8 Spencer Street, will home 134 one-, two-, and three-bedroom apartments, above ground-floor retail and five basement levels of parking.

A key component of the proposal is the inclusion of 15 per cent of residential floor space as in-fill affordable housing, unlocking additional height and density under the Housing SEPP.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="3ee31bf7-75ba-4bc5-b190-49885193219f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_2.png?VersionId=730UbrduuwK3C1sO28RHjiLPUPqXqjkh" />

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the scheme adopts a podium-and-tower configuration, with a five-storey street wall along Queens Road transitioning to a 26-storey tower set deeper into the site. The ground plane prioritises activation and permeability, with retail frontages and a new through-site link connecting Queens Road to Spencer Street.

At the upper levels, the tower façade has been conceived using a modular system to support prefabrication and reduce construction waste, while improving build efficiency. The splayed form draws on the geometry of surrounding industrial rooftops, reinterpreting the area’s heritage in a contemporary expression while also helping to reduce solar heat gain to east and west-facing apartments.

“This project aspires to transform a former industrial site into a connected, resilient and people-focused urban community, grounded in Country, shaped by history, and designed to enrich everyday life within the evolving Kings Bay Precinct,” said John Walsh, Principal at Plus Studio.

The proposal reflects the broader transformation of the Kings Bay Precinct under the Parramatta Road Corridor Urban Transformation Strategy, marking a shift from its industrial past to a higher-density, mixed-use urban neighbourhood.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="abde734c-1e31-4a97-a1d2-fa9bcf31c380" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/building%20podium.png?VersionId=fNUupP6u146yEytQT31kKVRxwtACgPpP" />

Develotek is emerging as an active participant in the state’s affordable housing-led uplift pathway. The developer recently secured approval for a 34-storey mixed-use tower in Chatswood, where it similarly leveraged the in-fill affordable housing provisions to increase scale and deliver a 101-unit scheme with dedicated affordable apartments.

Their entry into Five Dock places them alongside a growing list of developers targeting the suburb ahead of its anticipated transport uplift, with Sydney Metro set to extend into the area. Major players including TOGA, Deicorp, and One Global Capital are all progressing large-scale precinct-style developments nearby, collectively reshaping the low-rise industrial fabric into a higher-density mixed-use corridor.

The Five Dock site sits within the Kings Bay Precinct, a key renewal area under the Parramatta Road Corridor Urban Transformation Strategy, where planning controls support significant uplift tied to affordable housing delivery. The consolidated 3,158 sqm site is currently occupied by low-rise industrial uses, including warehouses and vehicle workshops, earmarked for transition.

First Look: Develotek joins in Five Dock apartment boom

Ascot’s Racecourse Road continues to be a hive of activity for Brisbane developers.

Following Fortis and GRAYA, which are both preparing new projects along the key strip connecting Kingsford Smith Drive and Eagle Farm Racecourse, local developer <a href="https://www.apartments.com.au/developers/skyhold">Skyhold</a> is the latest to lodge plans for its own development.

The group is proposing One One Two Residences, a boutique project comprising just seven apartments, named after its address at 112 Racecourse Road.

The proposal outlines a five-storey building on an 810 sqm site. The built form slightly exceeds the four-storey expectation under the neighbourhood plan, aligning instead with the emerging character of the strip. As the planning report notes, “the locality is characterised by a transition toward medium-rise residential development, with a number of recent developments… above the stipulated height limits.”

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="ec577631-8c51-4163-960e-e7b3a77d655b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot.png?VersionId=iAzQ46D4Uu1UqiS0mVnlcy9jeFKBpJIj" />

Designed by 111 with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/paul-bangay-garden-design">Paul Bangay Studio</a>, the scheme adopts a layered architectural approach with strong articulation and a subtropical response. Deep balconies, integrated planters, and a mix of masonry and textured finishes define the façade, while upper-level setbacks reduce perceived bulk. The architectural statement describes “a series of horizontally expressed layers, defined by deep balconies and a consistent robust material palette,” aimed at delivering a refined streetscape presence.

Apartments are configured as large-format residences, including multiple three-bedroom layouts and a full-floor penthouse, supported by ground-level parking. A rooftop terrace will provide communal amenities including a pool and landscaped recreation areas. The design prioritises privacy, natural ventilation, and greenery, with planting integrated across all levels to soften the building form and contribute to the public realm.

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="1e1219bd-b45a-4d7f-bbc7-7207d7b2fc94" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot%20entry.png?VersionId=JIoUOLMgQ5xWpEF0etEI3ffIoIVjD7gO" />

The proposal sits within the Racecourse Road precinct, a key mixed-use spine in Ascot that continues to attract renewed development interest.

Later this year national developer Fortis will launch its own boutique development, which, pending council approvals, will be 16 apartments designed by Koichi Takada Architects, just down the street.

“Racecourse Road is going through a massive revitalisation and we’re proud to be a part of that transformation,” said Fortis's QLD General Manager, Dan Boman.

Nearby, GRAYA is advancing its larger-scale The Gallery, a mixed-use shop-top housing project designed to act as a “catalytic project for Racecourse Road.”

First Look: Racecourse Road, Hamilton revitalization to continue as Skyhold joins the party

Expensive Housing

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Australia has a new richest postcode, Palm Beach the pricey peninsula playground.
It the first time in seven years that the Sydney Northern Beaches location has dethroned the Point Piper, Edgecliff, Darling Point postcode, according to Australian Taxation Office statistics released late on Thursday.
The 1,279 tax filers in Palm Beach's 2108 postcode reported an average income of $230,330 for 2016/17, while the 6,089 tax filers in Edgecliff's 2027 postcode made an average of $187,769.
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<div class="advert" data-module="article.ad" data-ad-type="MEDIUM" data-loc="MOBILE" data-max-width="727" data-sticky-class="" data-sticky-offset="0">Postcode 2027 had ranked as Sydney's highest earning postcode since 2009/10.</div>
<div class="advert" data-module="article.ad" data-ad-type="MEDIUM" data-loc="MOBILE" data-max-width="727" data-sticky-class="" data-sticky-offset="0"> </div>
<div class="advert" data-module="article.ad" data-ad-type="MEDIUM" data-loc="MOBILE" data-max-width="727" data-sticky-class="" data-sticky-offset="0">Although in 2016/17 it also ranked behind Melbourne's 3142, where the 10,044 filers in Toorak made an average of $193,904.</div>
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Palm Beach's 2108 postcode also includes Scotland Island, Coasters Retreat, Great Mackerel Beach and Currawong Beach.
The rankings reflects the trend in the past few years of owners turning Palm Beach holiday homes into principal residences.
It is not the first time a beach retreat location has ranked at the top of the ATO list as in 2008/09 the postcode 3944 - the Mornington Peninsula suburb of Portsea - was the top-earning postcode, with an average income of $197,987.
WA's 6011 was the richest postcode in Western Australia, with the 6,431 tax filers living in Cottesloe and Peppermint Grove on Perth's western suburbs made an average of $155,264.
In ACT, the 2603 was richest, with 6,650 tax-filers in Forrest, Griffith, Manuka and Red Hill earned an average of $110,394.
In Queensland, 4007 took the top spot, with 9,278 residents of Ascot, Hamilton and Hamilton Central in northeast Brisbane earning an average of $107,478.
South Australia's top postcode was 5061, where 6,587 residents of Hyde Park, Malvern and Unley in inner-southern Adelaide made an average of $93,871.
In the Northern Territory, 885 residents in the mining town of Alyangula - postcode 885 - made an average of $83,343.
Tasmania's top postcode was 7258, where the 571 residents of the Launceston suburbs of Breadalbane, Relbia and White Hills made an average of $68,621.
The lowest-earning postcode was 2308, covering Newcastle University and Callaghan, with an average taxable income of $20,589.
The second-lowest was 4611 in Queensland, where Marshlands and Mondure residents earned an average of $23,225.
Queensland had five of the bottom 10 postcodes, with 4611 recording the second lowest average income nationally of $23,225.
The report also showed that surgeons were once again the top-earning profession, making an average of $394,866.
Anaesthetists came second, earning $367,343 on average.
Out of 1,100 occupations recorded, there were 72 where women made more than men, including authors, future traders, magistrates, pro surfers and illustrators, the ATO statistics showed in 2016/17.
The Herald Sun reported female futures traders in Australia earn nearly 4 per cent more than their male counterparts, with an average income of $315,197.
This year’s stats present an overview of 16.5 million 2017 income tax returns for 13.9 million individuals, 970,000 companies, as well as super funds, partnerships and trusts. 
Australians reported donating $3.5 billion in charitable donations with an average gift size for those who did donate of $770.
The most generous state was Western Australia, with 30 per cent of residents claiming an average deduction of $1190. 
Northern Territory residents recorded the lowest charitable donations, with 34 per cent of residents claiming an average deduction of $405.
 
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j.ballantyne1990-6AQqhLzZaK

Shift to residency sees Sydney's Palm Beach top ATO tax payers list

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The top sale of 2017 was the Double Bay harbourfront mansion Elaine (above), sold by the Fairfax family for $71 million through Ken Jacobs at Christies International.
It sold to the billionaire Rich Lister Scott Farquhar and his wife Kim Jackson, who'd been previously content in a Pyrmont apartment.
Farquhar, co-founder of software company Atlassian topped the BRW Young Rich List again this year, along with business partner Mike Cannon-Brookes. Their combined wealth was tallied at just over $6 billion.
The top echelon of Australia's prestige property this year has seen a national price record and three state records. But nothing seemed overly easy.
The cut off for inclusion in the Property Observer national top 25 list was $18 million, based on registered sales, plus those that have sold at undisclosed prices awaiting settlements.
There are sales across four capital cities, Sydney, Melbourne, Perth and Brisbane.
Jacobs suggested that the recently introduced government regulations alienating overseas investment in Australia, meant the trophy home market was needing to be supported by the domestic market.
Elaine had been in the Fairfax family dynasty for 120 years before its sale which took almost three years to secure.
It's initial press commentary - by the Fairfax press - damaged the initial campaign when a silly $100 million prospect price estimate was published based on calculating the foreshore price per square metre capability to the entire 7000 sqm parcel that runs between the premium Seven Shillings Beach and the so-so New South Head Road position.
The unrenovated home had previously traded when bought by Geoffrey Evan Fairfax in the 1890s.
Next door to Elaine is Fairwater, the other Fairfax family home, which is likely to come to market next year following the death of Lady Mary Fairfax.
Mike Cannon-Brookes would rank as a serious a prospect to secure the prized offering.
Elaine's sale topped the previous $70 million house record set in 2015 when Ken Jacobs sold the Vaucluse mansion, La Mer, (below) on behalf of James and Erica Packer to Chinese-Australian businessman Chau Chak Wing. It sold off market.
<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/2017/12/22/700_la_mer.jpg" alt="">
A mid-December sale saw the Singaporean businessman CK Ow's luxury Vaucluse mansion sell at a reputed $67 million (below).
It had been listed with hopes of bettering Sydney's $71 million record price by the chairman of the hotel owner and developer Stamford Land Corporation.
Phoenix Acres, a 3731sq m site with six-bedroom, six-bathroom home, was last traded 22 years ago for $7,001,000 from the Braham family. Craig Pontey of Ray White sold it to Ow.
Despite the hoopla of attracting interest from potential buyers from as far away as New York, India and Beijing, the deal was struck with a local buyer on Sunday some eight weeks after it quietly hit the market.
<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/2017/12/22/VAUCLUSE.jpg" alt="">
The price gain, before costs, reflected 10 percent annual price growth at around $18,000 per sqm.
Agents were hoping to better tycoon James Packer's 3300 sqm non-harbourfront mansion, also in Vaucluse which sold in 2015 for $70 million, and in April this year John B Fairfax family's Elaine estate on 7000 sqm in Double Bay that sold for its still standing $71 million record.
Had Phoenix Acres sold to a foreign buyer it would have incurred around a $700,000 fee to FIRB, plus an extra $10 million in purchase duty and premium property duty payable on foreign buyers, along with a likely annual land tax of around $2 million.
The Phoenix Acres site was originally a public park with a wharf ferry service to Circular Quay before the legendary publisher Ezra Norton built his mansion, then known as Albemere, in the mid-1960s.
It set a record $370,000 price when first sold in 1968, having also been the highest then build costing an estimated 250,000 pounds
The Melbourne and Brisbane markets have been equally buoyant record prices during 2017.The first was in Brisbane when a clifftop Kangaroo Point home sold for $18.48 million, easily eclipsing the prior $14 million record set in late 2014 when mining and farming magnate Gina Rinehart bought a Brisbane riverfront home.
The record-breaker (below), sold by City Motor Auctions Group boss Angelo Russo and wife Sandra, was a three-level Leopard Street home, the work of renowned designer Greg Harris, who created the vast 1445 sqm split level residence.
The home came with five bedrooms, six bathrooms, a home office with adjoining boardroom, a fully equipped gym and steam room, sound proof cinema and a wine cellar.
A heated infinity lap pool and spa spans the width of the 1,184 sqm parcel and runs along the cliffs edge, with gun barrel views of the Brisbane River.
<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/2017/12/22/leopard.jpg" alt="">
The marketing through Ray White New Farm agent Matt Lancashire suggested no expense had been spared by the owners, including heated Saint Lorraine marble flooring from Greece used across the living and entertaining area.
Then mid-year came Melbourne's record breaking sale in Toorak.
Reports emerged in July of a new $40 million record house price set by 18 St Georges Rd, Toorak.
The grand 1920s home, known as Mowbray, was bought off-market, with its selling agent yet to claim credit with settlement still to come. 
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Mowbray was sold by former Mirvac director Marina Darling and husband Anthony who acquired it from venture capitalist Roger Allen and his wife Dianne for $4.9 million in 1995, the highest sale in Melbourne of that year. It sold again in 1987 at $3.95 million.
The five-bedroom two-storey residence stretches across around 5000 square metres was built by noted architect Christoper Cowper, though not protected by heritage overlay.
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The sale of the Mowbray estate exceeded the prior record of $26.25 million paid by Netflow managing director Phil Dreaver last year for the modern 9 Towers Road mansion owned by the Besen family.
Mowbray's buyer will be hit with a $5 million stamp duty bill, including a 7 per cent surcharge for foreign buyers in Victoria, which came into effect in July last year.
The mooted FIRB application fee of $412,000 applies for a $40 million home. The buyer also faces the prospect of an annual land tax bill of about $370,000 if the Toorak mansion is not their principle place of residence and another $300,000 in annual taxes from January 1 next year should it remain empty for more than six months in any calendar year.
But Marcus Chiminello says "Melbourne has never experienced such demand in the $10 million to $40 million bracket."
Indeed Chiminello recently advertised his desire for a $50 million home for a local client who has yet to secure their dream home.
The agency launched an advertising campaign this month to find potential sellers. Chiminello estimated there were 50 properties in the leafy inner east that were worth more than $35 million, but all were tightly held.
There was a $19 million Myvore Court, Toorak auction sale, which would've warranted inclusion in the Property Observer top 25 list, but the deal fell over with the resale coming in at $16 million.
Perth secured its highest residential sale in six years with $21.5 million paid in Mosman Park during 2017. It was sold by the Creasy mining family to Alan Tribe.
The Chidley Way home on a 4045 sqm site was designed by architect Robert Cann.
Creasy’s former husband Mark, a mining prospector, had paid the highest price for a WA property when he bought the mansion for $8 million from the late Multiplex Construction boss John Roberts in 1995.
There's already been a good offer on the former Bond home in Dalkeith. 
<a href="https://www.realestate.com.au/property-house-wa-dalkeith-127215174" target="_blank">It is being marketed</a> as among Perth's most expensive houses with $50 million plus hopes.
The Watkins Road mansion sits on the Swan River.
Real estate agent Willie Porteous suggests the four-storey home (below) has gained millions in value since it was bought in 2011 following its extensive renovations, including a complete make-over of the outdoor area.
It has been listed by mining entrepreneur Steve Wyatt and his wife, Sue.
<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/2017/12/21/bond2.jpg" alt="">
The property last traded for $39 million sale in 2011 when sold by businessman Barry Patterson, who was Sonic Healthcare chairman from 1999 to 2010 and previously held gold mining interests.
It last traded in 1999 for $9.5 million, which was to stand as Perth’s record until 2006.
The seven-bedroom riverfront mansion is set across six titles totalling 6,400 square metres.
Gold mining magnate Ross Atkins bought the property in 1993 from the Bond family trust company, Armoy Pty Ltd, for $7.3 million, selling it six years later to Patterson after extensive renovation.
Wyatt’s business associate Chris Ellison set the WA real estate record when he paid $57.5 million for iron ore heiress Angela Bennett's riverfront compound in Mosman Park in 2009.
In Canberra a Deakin home, with views of Parliament House, sold for $5.75 million recently through Luton Properties, the third highest sale in the nation's capital.
The house's 2010 construction to its designed by local architect Terry Ring on its 1710 sqm grounds saw extensive use of dry stack stone walls, marble, natural timber and sandstone.
In Tasmania's Hobart the Sandy Bay mansion Sentosa sold for a $6.5 million record.
The 100 year old home, which was bought by Sydney property developer Piers Dawson Damer and wife Kim, was designed by Marco Linardi. It sits in 2310 sqm of Paul Bangay-designed gardens on Blinking Billy Point.
Knight Frank selling agent Matthew Chugg described Sentosa as one of Tasmania's finest homes.
Sentosa topped the previous $6.06 million record set in 2011 when Waimea House, a Federation Arts and Crafts style on hillside Sandy Bay sold.
Adelaide's record price hasn't budged since 2015 when Ivanhoe, the Gilberton home built in 1889, sold quietly for $7 million, with the top sale so far this year being $4 million.
Ken Jacobs has an unsold Rose Bay estate listed with record setting 2018 aspirations for the Sydney and Australian markets.
Straddling five land titles with a frontage to Rose Bay beach, the 4000 square metre property belongs to Adrienne Dan, the wife of eminent Sydney neurosurgeon Professor Noel Dan.
It comes with two houses, pool and a tennis court.
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The top 25 sales of 2017
1. $71 million: Elaine at Double Bay when local tech billionaire Scott Farquhar bought the prized beachfront from John B Fairfax.
2. $67 million*: Phoenix Acres at Vaucluse where CK Ow fell disappointingly short of taking the mantle as most expensive home ever sold.
3. $45 million*: Deauville, Longworth Avenue, Point Piper when car importer Neville Crichton secured a beachfront home subject to its construction completion.
4. $40 million*: Mowbray, 18 St Georges Road, Toorak when the grand 1920s home was bought off-market by Chinese buyers, with its selling agent yet to claim credit with settlement still to come.
5. $36 million: 110 Wolseley Road, Point Piper when Neville Crichton onsold to property investor Andrew Potter.
6. $33 million: 110 Wolseley Road, Point Piper when Neville Crichton bought from the Zamel family.
7. $30,263,400: Yarranabbe Road, Darling Point when John Roth and wife Jillian Segal bought.
8. $30 million*: Bayview Hill Road, Rose Bay when the home of the late Sonja Lyneham was bought by Samira Jeihooni, wife of property developer Arash Tavakoli.
9. $29 million*: The Boatshed, Wunulla Road, Point Piper which after three years on the market was offloaded by the O’Neil family.
11. $28 million: New Beach Road, Darling Point when the digital entrerepnuer Patrick Grove bought from the Meagher family.
12. $26.5 million: Vaucluse Road, Vaucluse when the media scion Alexander Ma bought the residence of businessman Yaron Remen and his wife Shauna.
13. $22.45 million: Bay Street, Mosman/Beauty Point when the property developer Bryan Rose bought the Pick a Box house.
14. $22.1 million: Vailele, The Point Road, Woolwich when the Salter family sold to the Wang family.
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15. $21.5 million: Chidley Way, Mosman Park. Perth saw its highest sale for six years. 
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16. $21 million+*: Belhaven, Victoria Road, Bellevue Hill when the Brambles chairman Stephen Johns sold Belhaven to Dominic Stevens.
17. $21 million: Coolawin Road, Northbridge when Primo Smallgoods heiress Kristie Ward bought the 3434sqm holding from the Salteri family.
18. $20 million+*: Bonnington, Victoria Road, Bellevue Hill when sold by the executors of the late businessman Neville Christie.
19. $20 million*: Wyuna Road, Point Piper when the LA entrepreneur Andrew Banks made a return to Point Piper.
20. $20 million*: Ashton, Elizabeth Bay Road, Elizabeth Bay when the travel industry entrerepenuer Ray Harris sold the historic Ashton on the loop
21. $20 million: Wunulla Road, Point Piper when the property investor Andrew Potter sold his waterfront to Sarah Mayo.
22. $19.18 million: Fernleigh Gardens, Rose Bay when the Horizon Media owners Semyon and Dina Pinchuk sold to Xia Danrui.
23. $18.48 million: Kangaroo Point, Brisbane. A new home sale set an all-time Brisbane report price through Ray White.
24. $18 million+*: Sundorne, Victoria Road, Bellevue Hill when Cranbrook School sold to the property developer Eduard Litver.
25. $18 million: Bulwarra, Hunters Hill when Cate Blanchett and Andrew Upton sold after an earlier 2016 sale to Chinese buyers fell over.
25. $18 million: Nee Morna, Sorrento when one of Victoria's most historic coastal estates was bought by BRW Rich Lister and property developer Andrew Buxton. Not to far away on the peninsula, and just off the top 25 list was the Good Guys whitegoods boss Andrew Muir purchase of Miramar, the stunning Flinders home built by entrepreneur Daniel Besen and wife Danielle. It just fell shy of inclusion. Settlement records show Muir paid $17 million for the Wood Marsh-designed home that was described as 'land art by the sea' by its selling agent, Peninsula Sotheby's International Realty agent Rob Curtain.
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jrobinson-rf4aSBido9

The 25 most expensive house sales of 2017 across Australia

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A six bedroom, four bathroom home in Bellevue Hill topped this weeks most expensive sales with $7.25 million, according to CoreLogic RP Data.
Sold through Ballard Properties Clint Ballard and James Ball, the home features a swimming pool, a home cinema and a wine cellar.
The second most expensive house was in Collaroy where Brendan Pomponio and Kirsten Bertram of Belle Property sold a five bedroom, four bathroom home for $5.65 million.
The designer sandstone and timber designer home belonged to Fairfax CFO David Housego and features an open fire place beside the swimming pool.
 
Top ten sales of the week
25 Suttie Road, Bellevue Hill, NSW: 6 bed, 4 bath, 4 car house - $7.25 million - Ballard Property Group Woollahra
14 Seaview Parade, Collaroy, NSW: 5 bed, 4 bath, 2 car house - $5.65 million - Belle Property Dee Why
7 Cheyne Walk, Castlecrag, NSW: 5 bed, 4 bath, 3 car house - $4.72 million - McGrath Estate Agents
1/6 Wulworra Avenue, Cremorne Point, NSW: 3 bed, 2 bath, 3 car unit - $4.06 million - McGrath Estate Agents
25a/171 Gloucester Street, The Rocks, NSW: 3 bed, 2 bath, 3 car unit - $3.75 million - Colliers International Sydney
32 Lower Almora Street, Mosman, NSW: 2 bed, 2 bath, 1 car house - $3.7 million - Belle Property Mosman
9 Oxley Avenue, St Ives, NSW: 5 bed, 4 bath, 2 car house - $3.37 million - Savills Cordeau Marshall St Ives
59 Station Street, Pymble, NSW: 5 bed, 3 bath, 2 car house - $3.2 million - LJ Hooker Wahroonga
27 Ruskin Rowe, Avalon Beach, NSW: 4 bed, 4 bath, 5 car house - $3.15 million - LJ Hooker Avalon Beach
8e/171 Gloucester Street, The Rocks, NSW: 3 bed, 3 bath, 2 car unit - $3.12 million - McGrath Estate Agents.
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Fairfax CFO David Housego misses out on the most expensive sale of the week

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Sydney has unsurprisingly dominated the latest most expensive housing suburbs.
The figures, correct as of December, show Centennial Park topping the list with a median value of $6.29 million per house.
Point Piper edges Darling Point after it's $39 million sale of Villa del Mare, $39.9 million of Mandalay and two more on Wunulla Road which sold for $28 million and $18 million.
Peppermint Grove in Perth is the only non-New South Wales suburb.
Vaucluse's surprisingly misses out on the top three despite Jamie Packers $70 million sale of La Mer in August. 
Whale Beach comes in at 10th place. It's latest sales see Google Australia boss Maile Carnegie and her executive consultant husband Charles outlay $3.52 million <a href="https://www.domain.com.au/7-malo-road-whale-beach-nsw-2107-2012010652" target="_blank">on a Whale Beach weekender. </a>
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Maile Carnegie was appointed to head Google in mid-2013, moving across from her role as managing director at Procter &amp; Gamble.
Charles Carnegie heads The Waypoint Group corporate advisory firm. The Malo Road property last traded when bought by the Hatty family for $180,000 around 36 years ago. It was listed through LJ Hooker Palm Beach’s David Edwards.
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<a href="/images/2016/02/04/Screen%20Shot%202016-02-04%20at%2010.49.53%20am.png" target="_blank">Click here to enlarge</a>
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