Holiday home buyers who have long gravitated to Queenstown’s alpine setting are increasingly looking for low-maintenance apartments that allow them to lock up and leave, while still generating income when they’re away.

For Wendy, who had spent years visiting the Queenstown and Arrowtown region, <a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>’s Mountain Oak Apartments provided the opportunity to formalise what had previously been a recurring holiday pattern.

“We always had Queenstown in the back of our minds to buy something there as a holiday home,” she says. “We love the Queenstown and Arrowtown area.”

<img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/658d4f_48c3ec1ae5df4a2cab7d23c07c7f51b3~mv2.jpg?VersionId=27K8oQ4ExDN8Yu70VHDa9Olq59XU36m3" />

Time spent visiting her sister-in-law, who owns in Arrowtown, along with regular stays at Millbrook Resort, had already shaped a strong personal connection to the region.&nbsp;

Rather than approaching the purchase purely as an investment play, Wendy’s starting point was lifestyle.

“We were more thinking about ourselves and where we could stay, and then the rental aspect was second.”

Mountain Oak Apartments, located within the masterplanned Remarkables Park precinct in Frankton, aligned with that thinking. The ability to secure the apartment with a deposit and settle on completion made the timing work.

“The fact that we could put a deposit down with the balance on completion was a bonus for us,” she explains.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Wendy selected a two-bedroom, two-bathroom penthouse, a configuration that supports both private use and guest flexibility.

“The two-bedroom, two-bathroom configuration appealed from both a rental viewpoint and for the ability to have friends stay while we are there,” she says.

Across the development, two-bedroom apartments range from 64sqm to 78sqm, with two-bedroom plus flexi options from 71sqm to 75sqm, each with an allocated car park. The flexi layouts introduce an additional space suited to work or hobbies, reflecting demand from buyers who split their time between leisure and remote work.

Apartments include underfloor heating in bathrooms, heat pumps to living areas, and joinery positioned to maximise natural light and mountain outlooks. The Remarkables Park precinct is known for its extended winter sunshine hours, water frontage and open views toward The Remarkables.&nbsp;

Units come in light and dark interior colour schemes.

<img alt="Mountain Oak Apartments draws holiday home buyers to Queenstown" data-entity-type="file" data-entity-uuid="fd685a22-3b95-43a1-87cb-48fdd42bb4ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_f9f89107c2704ebbbe5a6b36da508cb3~mv2.jpg?VersionId=MigFIEm6b.mrANANwxSmwHvC4RdJUuyR" />

While lifestyle was the primary driver, the fundamentals of the Queenstown market added reassurance.&nbsp;

“Proximity to the airport and tourism being the main attraction all year round,” Wendy says, when asked what stood out from an investment perspective.

Mountain Oak sits just eight kilometres from Queenstown’s CBD and around a two-minute drive from Queenstown Airport.&nbsp;

For Wendy, that airport proximity carries practical value.

“The airport proximity is a bonus, we think that being so close will be an attraction for the convenience side.”

Residents are also a short drive from Coronet Peak, Jack’s Point Golf Course, New World Supermarket, Five Mile Shopping Centre, and the dining, medical, gym, cinema and library amenities within the town centre, as well as the seasonal Remarkables Market.

Importantly, the purchase does not lock owners into a single use. Mountain Oak offers the flexibility to opt for short-term visitor accommodation or longer-term residential rental management, with 365-day visitor accommodation consent in place. Owners can utilise Safari Group’s 24/7 on-site management service or appoint their own provider, and do not need to decide on a strategy immediately.

“It was a bonus that we can rent it out as well as use it for ourselves,” she says.

Additional buying options, including furniture packages and storage units available for purchase within the building, further support a lock-and-leave model suited to interstate and overseas owners.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Mountain Oak Apartments comprises 141 residences, ranging from one-bedroom configurations through to larger apartments and penthouses. One-bedroom apartments are currently priced from NZ$639,000, with three-bedroom options from NZ$1,299,000.

With 365-day visitor accommodation consent, the development is structured to respond to Queenstown’s established four-season tourism economy, spanning winter ski traffic and summer hiking, cycling, golf and lake-based activity.

Although Wendy acknowledges the strength of rental demand, her approach remains long term.

“We’re not planning to sell it anytime soon, so we are keen to hang on to it, but the passive income will be a bonus.”

Confidence in the developer also influenced her decision. Before proceeding, Wendy sought feedback within the local building community.

“We asked around and Safari Group had a good reputation,” she says.

Safari Group has delivered more than 2,000 hotel units and residential apartments across over 18 developments nationwide, with more than 25 years’ experience in the sector.

With completion anticipated by mid-2027, Mountain Oak is attracting a cross-section of buyers, from yield-focused investors to lifestyle purchasers seeking a foothold in one of New Zealand’s most tightly held alpine markets.

For Wendy, it represents both a future holiday base and a long-term asset within Queenstown’s year-round tourism economy.

Joel Robinson

How Mountain Oak Apartments draws holiday home buyers to Queenstown

Eduard Litver's Capitel Group is seeking to redevelop Chatswood's Mandarin Centre in the heart of the burgeoning suburb.

Capitel Group, in a joint venture with Metis Group, has filed a State Significant Development Application (SSDA) to demolish the Mandarin Centre and construct a 32-storey tower designed by Skidmore, Owings &amp; Merrill (SOM) with 325 apartments.

The 3,524 sqm site at 61A-65 Albert Avenue will also home extensive retail amenity, both at street-level and across a four-level podium.

<img alt="First look: Metis and Capitel unveil $1.2bn+ plan to redevelop Chatswood’s Mandarin Centre" data-entity-type="file" data-entity-uuid="905976ea-08cd-409f-8a4c-33a3fb8bf351" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1771923441002.png?VersionId=f_xI2ejpxQvEm4fPqGji01RY9_AWVY6O" />

In its early stage Design Report submitted to the NSW Government's Housing Delivery Authority, SOM describes the ambition for the project as one that “aims to revitalise and reactivate an important corner of the Chatswood CBD.”

The architects note that the existing shopping centre “has a lack of vertical connection between its five levels of retail and a cumbersome pedestrian access from the street to the second-level transit connection,” framing the redevelopment as an opportunity to reconfigure circulation and better integrate with surrounding transport infrastructure.

The design adopts a single tower configuration, shaped through early testing to respond to neighbouring buildings and key public spaces.

Retail activation is concentrated at ground and lower podium levels, with a focus on food and beverage, lifestyle and wellness tenancies. The intent is to create a more permeable ground plane and improve connections between Albert Avenue, Victor Street and the Chatswood transport interchange, located within walking distance of the site.

<img alt="First look: Metis and Capitel unveil $1.2bn+ plan to redevelop Chatswood’s Mandarin Centre" data-entity-type="file" data-entity-uuid="b1e0c8cb-ee9b-41c1-97ac-0455c043b9e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1771923442914.png?VersionId=y.Kbo.9bzLIbOabeygYts8Uf9imI.Dqh" />

The site occupies a prominent position on the southern edge of the Chatswood CBD core, bounded by Albert Avenue and Victor Street. It sits near the rail and metro interchange and within close proximity to Chatswood Chase, Westfield Chatswood, Chatswood Oval and a range of commercial office towers and residential buildings.

Chatswood has been one, and continues to be, of the most popular suburbs for developers in recent years. The most recent tower to launch is Hyecorp's Celine on Archer Street, which followed The Anderson by Changfa and Huirong.

Soon to launch is Coronation's Archer &amp; Albert nearby the new proposal.

Chatswood boom continues with Capitel and Metis’s $1.2 billion Mandarin Centre redevelopment

Apartment development applications continue to tally up in Rose Bay following the NSW Gov's 2025 update to the Low and Mid-Rise Housing Policy.

&nbsp;

Some $200 million worth of developments were filed in the space of four weeks at the back end of last year, with the likes of Fyve, HSN, Luxcon and Fortis all seeking to creating new apartment buildings.

The latest plans are for an amalgamated 3,105 sqm site across Conway Avenue, Fernleigh Avenue, and Carlisle Street. Developer Mathieson Property is planning <a href="https://www.apartments.com.au/new-apartments/dian-2-6-conway-avenue-rose-bay-nsw-2029">Dian</a>, 70 apartments across a new eight-storey building, perched on a ridgeline within walking distance of Rose Bay Town Centre.

The State Significant Development Application (SSDA), includes one-, two-, three- and four-bedroom configurations. Over 15 per cent will be dedicated as affordable, as per the NSW Government's push for affordable housing. The 17 apartments will be managed by a community housing provider for 15 years following completion of the building.

<img alt="First Look: Mathieson Property unveils eight-storey infill housing proposal ‘Dian’ in Rose Bay" data-entity-type="file" data-entity-uuid="f99c21d9-e69d-4a23-ae35-3244cfa0b4ae" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Rose%20Bay%20site_0.png?VersionId=67KSZfecJ3fvn1ewo9xxKrneRT.Nsjwd" />

MHNDU has designed the building around three central cores, with lower-level apartments arranged to maximise corner balconies and cross-ventilation. Upper levels are configured with dual north–south aspects to capture harbour views and solar access.

Private open space is a key feature of the scheme, with generous balconies and terraces throughout. Five ground-floor apartments would include private pools, while one upper-level residence will feature a rooftop terrace and pool. A communal room and adjoining landscaped outdoor terraces provide shared open space for residents.

<img alt="First Look: Mathieson Property unveils eight-storey infill housing proposal ‘Dian’ in Rose Bay" data-entity-type="file" data-entity-uuid="dd2e275f-c270-4eb1-9a02-2b573b8eb540" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Rose%20Bay%20front_0.png?VersionId=Us5jNEG6iLFLLMfQSzVBVdILYobBj.g9" />

The site sits around 365 metres walking distance of Rose Bay Town Centre and around 312 metres from regular bus services on New South Head Road, meeting the accessible area criteria under the Housing SEPP.

In early 2025, the NSW Government implemented significant changes to its Low and Mid-Rise Housing Policy, altering planning controls to allow greater density for new apartment projects within an 800-metre walking distance of stations and town centres in the&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025">Woollahra</a>&nbsp;Local Government Area, overriding existing local controls. Buildings are now permitted to rise up to six storeys within 400 metres of a station or centre, or eight storeys where affordable housing is incorporated, and up to four storeys within the 401 to 800 metre radius, which can increase to six storeys with affordable housing.

Mathieson Property unveils Dian Rose Bay apartment development

Lower North Shore developer <a href="https://www.apartments.com.au/developers/hyecorp-property-group">Hyecorp</a> is preparing to launch <a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine</a>, its new apartment development in Chatswood.

Set within a blue ribbon location on Archer Street, Celine will rise on a quiet, tree-lined enclave on the edge of the South Chatswood Heritage Conservation Area, a short walk from the connectivity which Chatswood is famous for.

Celine will deliver 122 one, two, three, and four-bedroom residences, designed to accommodate a broad range of buyers, from owner-occupiers to investors.

[smartcode_project:default project_id=149594 project_image_fid=362610]

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/fuse-architecture-0">Fuse Architects</a>, the 29-storey tower has been shaped to respond to its Archer Street setting, with a defined podium and slender upper levels.&nbsp;

The building incorporates a two-storey residential lobby at the corner, double-height retail fronting Bertram Street, food and beverage tenancies along a through-site link, and two levels of commercial office space.&nbsp;

A landscaped pedestrian connection between Archer and Bertram streets will provide a publicly accessible link through the site, extending activity at ground level beyond the building footprint.

[smartcode_project:default project_id=149594 project_image_fid=362606]

Inside, Hyecorp is emphasising scale and flexibility. Most residences will incorporate multipurpose rooms, allowing buyers to configure additional living, study or guest space within their floorplan.&nbsp;

Kitchens have been designed with proportions more commonly associated with standalone homes, complemented by Gaggenau and Miele appliances, integrated refrigeration, Miele laundry appliances, Taj Mahal stone and bronze tapware.&nbsp;

Buyers will also have the option to tailor aspects of their home through the developer’s “Live Your Way” personalisation service.

Resident amenity will include an outdoor pool, gym and sauna, as well as barbecue and lounge areas designed for shared use. Upper levels are oriented to capture eastern outlooks towards the Sydney CBD and surrounding greenery.

[smartcode_project:default project_id=149594 project_image_fid=362633]

The location places future residents within 800 metres of Chatswood Interchange, providing access to metro and rail services, and within walking distance of Westfield, Chatswood Chase and the Chatswood Concourse. Parks including Chatswood Park and Beauchamp Park are nearby, along with a cluster of schools and private hospitals.

Celine continues Hyecorp’s focus on the Lower North Shore. The Australian, family-owned developer has been operating locally for more than 30 years, with recent projects including Audrey in St Leonards, now nearing completion, and Juliet in Roseville. With registrations expected to open soon, Celine represents the group’s latest addition to the Chatswood apartment market.

[smartcode_project_cta:default project_id=149594]

Hyecorp unveils Celine, a striking new apartment tower in the heart of Chatswood

International development company <a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> has kicked off construction of the $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a>, one of the highest value developments to get underway on the Gold Coast in more than a decade.

Located on a 1.15ha site stretching from Surfers Paradise Boulevard to Ferny Avenue, Paradiso Place, when completed, will deliver 845 residences across three residential towers. &nbsp;

Paradiso Place has been several years in planning by SPG, which has now pushed the green light on construction to meet pent-up demand from investors and owner occupiers.

&nbsp;

[smartcode_project:default project_id=106566 project_image_fid=185858]

The move follows minor amendments to the original design to cater to buyer demand, including the provision of more premium residential amenity, including private dining, lounge and events spaces for residents to entertain guests.

The three towers, comprising 41, 40 and 44 levels, will bring to the market 845 apartments with each tower boasting its own podium level interconnected skybridge to create a unique elevated ‘beachside village’ for residents.

[smartcode_project:default project_id=106566 project_image_fid=362500]

The <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed development will bring a broad range of residences to the market, most offering ocean views and all enjoying five-star hotel amenities with world-class facilities and the convenience ground level retail precinct.

&nbsp;

Construction of Paradiso Place has been made possible by SPG’s newly established SPG Built division partnered with experienced project management group Eastview Australia, a company that has supported the development of a raft of major projects on the Gold Coast over the past two decades.

[smartcode_project:default project_id=106566 project_image_fid=362499]

“It’s a very exciting time for Paradiso Place as we start construction,” said SPG Land Chairman David Wang.

“We have spent our energy refreshing design and assembling the best team and waiting for what we believe is the right time to start construction on one of the most exciting mixed-use developments to proceed on the Gold Coast since Oracle in Broadbeach and Circle on Cavill in Surfers Paradise. &nbsp;

“The local and interstate downsizer market is getting stronger, and we see Paradiso Place as the right project for our times right now. Our company has the capacity to deliver large-scale projects, and we are thrilled to be bringing this vision to reality.”

&nbsp;

[smartcode_project:default project_id=106566 project_image_fid=185861]

SPG Invest, a company founded in Australia in 1998 with a focus on high-end real estate and premium hospitality assets, has delivered 56 projects in the Asia-Pacific region over the past twenty-five years, including The Peninsula Hotel Shanghai and the Global 188 twin-tower project in Suzhou and Cambridge Residences at Robina.

Paradiso Place will deliver a range of new apartments with two-, three- and four-bedroom layouts, as well as a collection of sub-penthouse and penthouse apartments across three levels. Prices start from $950,000.

[smartcode_project:default project_id=106566 project_image_fid=185852]

“We have a very strong vision for Paradiso Place – we are creating a unique beachside residential community where contemporary design &amp; architecture and luxury materials combine with five star residents’ amenities and the convenience of a premium retail precinct on the ground floor”, said SPG Land CEO Dr Ying Rao&nbsp;

“We are confident that the community will recognise that this is more than just another development. Paradiso Place will bring a much-needed retail precinct and lifestyle hub to northern Surfers Paradise with premium retail, lifestyle and food and beverage options,” Said Dr Rao&nbsp;

“The retail precinct is critical to enhancing the lifestyle amenity for residents and guests, so SPG will retain control of this precinct to curate a premium retail offering that will support this thriving new community.

“SPG will also retain short-term holiday letting to control premium and luxury outcomes in line with our vision.”

Construction of Stage 1 Paradiso Place is expected to be completed by end of 2029.

[smartcode_project_cta:default project_id=106566]

Construction commences on $1.5 billion Paradiso Place development in Surfers Paradise

Luxury Homes

Siskas is the final release of Gary Dempsey Developments&rsquo; coveted Taskers development in Perth&rsquo;s North Fremantle.

Designed by ZMH Architecture and Craig Steere Architects, the residence features a collection of two, three and four-bedroom apartments.

The broader Taskers project has won numerous industry awards for excellence in construction and development, with recognition from the Master Builders Association and the Urban Development Industry of Australia.

We recently spoke with Gary Dempsey Developments&rsquo; very own Gary Dempsey to discuss the luxury development.

[smartcode_project:default project_id=7864 project_image_fid=142655]

MK: What are the highlights of&nbsp;Siskas&nbsp;at Taskers and what is attracting buyers to the project?&nbsp;&nbsp;

GD: Undoubtedly buyers are attracted to&nbsp;Siskas&rsquo;&nbsp;unique location between the Indian Ocean and the Swan River and the lifestyle that comes with that. It promotes the best of our enviable laidback WA lifestyle but is within easy reach of Fremantle, the CBD and some of Perth&rsquo;s best schools and colleges.

As well as the location, our buyers know that with GDD they are buying an unmatched level of construction quality and sophistication &ndash; in terms of the features you do see, but also those you don&rsquo;t including rooftop solar, double glazing, acoustic plumbing, the extensive use of natural stone and European appliances across the project as well as a range of resort style, residents&rsquo; only amenities.&nbsp;&nbsp;

[smartcode_project:default project_id=7864 project_image_fid=142658]

MK: What was the design brief for the architect Fred&nbsp;Zuidefeld (ZMH Architects)?&nbsp;

GD: The architectural brief focused on creating a sophisticated, timeless development that fostered a connection with its&nbsp;waterfront location combining the use of the highest quality materials and finishes with the latest in innovation technology and sustainability features.&nbsp;

MK: Where have the buyers comes from and who is it appealing to?&nbsp;

GD: Our buyers and prospective buyers span a range of demographic but tend to be downsizers from the local area wanting to move from larger family homes but stay in the area in which they have grown up in and have established connections.

[smartcode_project:default project_id=7864 project_image_fid=142657]

We&rsquo;re also seeing growing demand from young professionals who value the waterfront location and the range of amenities on their doorstep.&nbsp;Overall&nbsp;we are seeing buyers who want quality in terms of the finish but also the construction and the features you don&rsquo;t see. Our development is dominated by owner occupiers rather than investors which also appeals across our buying demographic.&nbsp;&nbsp;

MK: What else does&nbsp;Siskas&nbsp;at Taskers offer residents?&nbsp;

GD: Additional resident features include a wine room, workshop, 3000sqm of&nbsp;established&nbsp;private gardens &ndash; unseen in any comparable apartment development &ndash; a 25m lagoon style pool,&nbsp;alfresco dining/ entertaining spaces, yoga/ pilates and massage room,&nbsp;gym,&nbsp;sauna and onsite caf&eacute;.&nbsp;

MK: Why did you choose North Fremantle Does this area offer strong investment opportunities?&nbsp;&nbsp;

GD: North Fremantle is primarily dominated by older&nbsp;free standing&nbsp;homes on larger blocks with limited development but plenty of potential.&nbsp;It&rsquo;s&nbsp;also a standout location in terms of its access to river and ocean, Fremantle, Claremont and Cottesloe. The annual growth rate is 4.3% and properties tend to be very tightly held, making it a very&nbsp;sought after&nbsp;suburb.&nbsp;&nbsp;

[smartcode_project:default project_id=7864 project_image_fid=142670]

MK: Where is current buyer enquiry coming from?&nbsp;

GD: It tends to be dominated by those from the local area however we are seeing an increasing level of both interstate and overseas enquiry as a growing number of people post-COVID&nbsp;realise the unbeatable lifestyle WA offers.&nbsp;&nbsp;

Designed by ZMH Architecture and Craig Steere Architects, the residence features a collection of two, three and four-bedroom apartments

max.kwok_55688

What buyers need to know about North Fremantle’s Siskas at Taskers: Urban chats with Gary Dempsey Developments

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Architect Paul Buljevic, from PBD Architects, and his wife, now call the Clovelly project that once appeared on ABC's Grand Designs as their home.
It fetched $7 million through Phillips Pantzer Donnelley agency which had a $6.5 million price guide.
It sold just before the onset of COVID-19 when the estate agency reported there'd been a quick 10 to 15 percent price fall by mid-April.
The agency then sent shockwaves with its forecast that coastal prestige prices would fall another 10 to 20 per cent and not recover for five to seven years.
The Clovelly home was featured in Grand Designs Australia in 2012 when built by Prebuilt in Melbourne as four modules.
The pods were trucked to Sydney in a convoy and lifted into position to create the uber modern, two storey residence.
Now featuring a jet black exterior, the zinc and timber clad customised home, which has undergone a renovation in recent years, has four bedrooms and a home office.
It was architect Pleaser Perkins who designed the home which sold for $6 million in 2017 to car dealer Steve Nasteski, who has made a $12 million sea change with his acquisition of the Wategos beachfront reserve, Whalewatchers from Salmat co-founder Peter Mattock and his wife Pam.
This article first appeared in The Sunday Telegraph
 
</body></html>

firstname1-iYD4UYzvBa

Steve Nasteski's Clovelly home sold for $7 million

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Luxury residential price growth in Australia is highest in Sydney and Melbourne, according to the results of the Prime International Residential Index (PIRI 100) in Knight Frank’s The Wealth Report 2020, released.
The PIRI 100, which tracks the movement of luxury residential prices in 100 cities and second home markets globally between December 2018 and December 2019, found four Australian cities were ranked in the top 60 for luxury residential market performance over the past year. 
Sydney was the top ranked city in Australia, coming in at number 27 with 3.7 per cent annual growth, with Melbourne second at 44 (2.2 per cent growth).
The Gold Coast was ranked 55 (1.8 per cent), Brisbane was ranked 57 (1.4 per cent) and Perth came in at 63 (0.9 per cent)
“Globally, the 100 locations covered by Knight Frank’s Prime International Residential Index recorded average price rises of 1.8 per cent, up from 1.3 per cent in 2018, although down from the 2.8 per cent recorded in 2013", according to Michelle Ciesielski, Knight Frank’s head of residential research Australia.
“Despite record low interest rates and wealth growth continuing in most advanced economies, there were some factors preventing global price growth from reaching previous highs, including the slowing global economy, rising property taxes and in some cases, a surplus of luxury homes on the market.
“But global price growth is firmly on the way up, with a shift away from the moderating price growth that has prevailed since 2013. We found 78 of the 100 locations in PIRI registered flat or positive growth in 2019. 
“In Australia, Sydney and Melbourne recorded growth above the global average, and Sydney is leading the five domestic markets with prices underpinned by constrained supply, a resilient stock market and three interest rate cuts in 2019.
“Arguably unrivalled for lifestyle, Sydney combines all the first-class amenities of a tier-one city with an outdoor lifestyle in a waterfront location.”
Shayne Harris, National Head of Residential, Knight Frank said, “Demand for luxury property in Sydney has further strengthened, with demand growing and momentum building from 2019 into 2020. 
“We know from The Knight Frank Attitudes Survey that one-third of Australian ultra-high-net individuals (UHNWIs) wealth portfolios are made up of their principal place of residence and second homes.
 “Sixteen per cent of Australian UHNWIs are planning another residential home purchase and this doesn’t include those properties for investment purposes. The main reason for their next purchase will be led by upgrading the family’s main residence, downsizing or retirement and a new family home in a sunny location.  
“Globally, 21 per cent of UHNWIs are planning another home purchase in 2020. When ranking the countries for the next purchase, Australia came in third place, behind the United Kingdom and the United States despite non-residents without an investor visa being restricted to new-build purchases only.
“Looking at relative values across the globe, you can essentially buy 50 sqm of prime luxury internal floorspace in Sydney with US$1 million, when compared to 21 sqm in Hong Kong or just 16 sqm in Monaco. 
“Your US$1 million extends even further when buying in Melbourne (96 sqm), Perth (117 sqm), Brisbane (123 sqm) and 136 sqm on the Gold Coast.”
Ms Ciesielski said ongoing high demand for luxury residential property in both Sydney and Melbourne was expected to result in higher growth rates in prices next year.
“Both cities have performed better than expected over the past 12 months, exceeding expectations for prime residential price growth, with Sydney’s actual growth of 3.7 per cent almost double the forecast 2 per cent and Melbourne’s growth of 2.2 per cent more than double the forecast 1 per cent.” 
“Knight Frank’s The Wealth Report forecasts that Sydney luxury residential property prices will grow by 4 per cent in 2020, while Melbourne will see growth of 3 per cent. The other cities of Brisbane, Perth and the Gold Coast are forecast to see growth of 2 per cent over this time.” 
Australian cities included in Knight Frank’s PIRI 100:
<table style="width: 632px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="179">
City
</td>
<td valign="top" width="113">
2019 Ranking
</td>
<td valign="top" width="113">
 per cent Change 
(Dec 2018 to Dec 2019) 
</td>
<td valign="top" width="113">
2018 Ranking
</td>
<td valign="top" width="113">
 per cent Change (Dec 2017 to Dec 2018) 
</td>
</tr>
<tr>
<td valign="top" width="179">
Sydney
</td>
<td valign="top" width="113">
27
</td>
<td valign="top" width="113">
3.7 per cent
</td>
<td valign="top" width="113">
30
</td>
<td valign="top" width="113">
3.1 per cent
</td>
</tr>
<tr>
<td valign="top" width="179">
Melbourne
</td>
<td valign="top" width="113">
44
</td>
<td valign="top" width="113">
2.2 per cent
</td>
<td valign="top" width="113">
41
</td>
<td valign="top" width="113">
2.2 per cent
</td>
</tr>
<tr>
<td valign="top" width="179">
Gold Coast (= with Verbier, Switzerland)
</td>
<td valign="top" width="113">
55=
</td>
<td valign="top" width="113">
1.8 per cent
</td>
<td valign="top" width="113">
42
</td>
<td valign="top" width="113">
2.1 per cent
</td>
</tr>
<tr>
<td valign="top" width="179">
Brisbane
</td>
<td valign="top" width="113">
57
</td>
<td valign="top" width="113">
1.4 per cent
</td>
<td valign="top" width="113">
31
</td>
<td valign="top" width="113">
3.0 per cent
</td>
</tr>
<tr>
<td valign="top" width="179">
Perth
</td>
<td valign="top" width="113">
63
</td>
<td valign="top" width="113">
-0.9 per cent
</td>
<td valign="top" width="113">
42
</td>
<td valign="top" width="113">
2.1 per cent
</td>
</tr>
</tbody></table>
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j.ballantyne1990-6AQqhLzZaK

Melbourne and Sydney dominate luxury residential price growth in Australia: Knight Frank

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The luxury Mosman residence at Stanley Avenue sold at auction for $8,460,000 today. 
The <a href="https://www.realestate.com.au/sold/property-house-nsw-mosman-132853106" target="_blank">four-bedroom, three-bathroom property</a> sold through <a href="https://www.simeonpartners.com.au" target="_blank">Simeon Partners</a> whose price guide was $6.5 million.
According to Richard Simeon, "over the course of the campaign, we had 178 enquiries, 106 inspections, 21 contracts issued, 11 bidders, and one delighted vendor."
Balmoral Beach-front residence is situated on 600 sqm of prime land and was offered to the market for the first time in over 37 years.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/7_FEB22.jpg" alt="">
The tri-level double brick residence features an outdoor multi-entertaining area that overlooks the swimming pool and beach. 
All bedrooms are set on one level with two bedrooms facing the ocean view. 
The residence also has a timber finished kitchen equipped with stainless appliances and a gas cooktop, a gas fireplace, wine cellar, double lock-up garage, and extensive storage space. 
 
 
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Luxury Mosman residence sold for over $8 million

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Five Australian cities have been named in the top 30 best performing luxury real estate growth markets in the world by Knight Frank.
In their Prime Global Cities Index Q3 2019, Sydney, Melbourne, Brisbane, Gold Coast and Perth all made it in to the top 30 which was crowned by Moscow.
In Australia, all but Perth, who ranked 30th, recorded growth higher than the average annual prime price growth of 1.1 per cent across 45 cities globally. 
Sydney ranked 17 with gains of 2.6 per cent, jumping a place from last year. It topped the unmoved Melbourne, placed again at 21st, with two per cent growth.
Melbourne only just edged out Brisbane, ranked 22nd with two per cent.
The Gold Coast ranked 26th with 1.3 per cent gains. It was only last quarter it first appeared on the list. Perth was ranked 30th with growth of 0.7 per cent.
Knight Frank’s Head of residential research Australia Michelle Ciesielski said: “Whilst the Australian mainstream residential markets were progressively being corrected by tightened lending measures, the prime property market continued to experience positive growth given the prestige end of the market was less impacted by funding restrictions throughout this time.
“In fact, the major east coast cities of Sydney, Melbourne, Brisbane and the Gold Coast have now recorded 25 quarters, or more, of positive annual growth," she added.
“Growth in prime property prices closely follows the performance on the stock exchange – and there have been some significant gains made on the Australian sharemarket in 2019. Collectively the Australian prime market has continued to see sustainable growth of 2% in the year ending September 2019, whilst the sharemarket recorded a 7.7% return.
 With equities on an upward growth trajectory, its likely this will follow through to further growth in prime property prices.”
The Prime Global Cities Index increased by 1.1% in the year to September 2019, down from 3.4% in 2018, with slower prime price growth attributable to mounting economic headwinds. 
Knight Frank’s Head of Prestige Residential Deborah Cullen says that the top end of the market slow more consideration and time in transacting.
"There is still strong interest from local and expat buyers for blue ribbon areas and for “best in class” assets, in particular the waterfront areas of Sydney.”
 
 
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jrobinson-rf4aSBido9

Five Australian cities in Knight Frank's top 30 for luxury residential real estate price growth

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Five Australian cities ranked in the top 32 cities around the world for luxury residential price growth, according to the latest research findings from Knight Frank.
The Knight Frank Prime Global Cities Index – Q2 2019, which tracks the movement in prime residential prices (the top 5% of the housing market in most cities, by value) across 46 cities worldwide, revealed Sydney was ranked 18th for luxury price growth.
Following Sydney is Brisbane ranking 20th, Melbourne 21st, the Gold Coast 27th and Perth 32nd.
Sydney has moved back into the top spot for Australia, while Melbourne has moved up the rankings one spot from the previous quarter.
The Gold Coast has been included in the Prime Global Cities Index for the first time in Q2 2019.
Knight Frank says this reflects stability and depth in the city’s established luxury home market, with a solid pipeline of new projects catered towards affluent local and interstate downsizers.
The Prime Global Cities Index – Q2 2019 found three Australian cities - Sydney, Melbourne and Brisbane - all recorded growth in luxury residential prices higher than the overall average annual prime price growth of 1.4% across the 46 global cities in the 12 months leading up to the end of June this year.
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Five Australian cities rank in the top 32 for luxury residential price growth

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EXPERT OBSERVER
Nationally, from the market peak to the end of May ’19, the most affordable quarter has seen values fall by -1.4%, the middle of the market has seen values fall -6.6% and the top quarter has fallen by -11.6%.
The -1.4% fall across the lower quartile is the largest since Sep-18, the -6.6% fall across the middle of the market is slightly down on the previous month while the -11.6% fall across the top quartile is the second consecutive month in which falls have slowed and the smallest annual decline since Dec-18.
Combined capital cities
Low quartile values are -5.1% lower over the year, middle market values have fallen -8.3% and top quartile is -12.4% lower. The -5.1% fall is the largest since September 2008 and the -12.4% fall is the smallest since December 2018.
Combined regional markets
Values across the most affordable quarter of properties are -1.2% lower compared to a -1.6% fall across the middle of the market and a 6.7% fall across the top quartile (the largest fall since January 2012).
<img src="https://www.urban.com.au/images/2019/6/13/Declining%20Values%201.JPG" alt="">
Sydney
The low quartile has recorded a value fall of -2.0% (smallest fall since Oct-18) compared to -11.9% across the middle of the market (smallest fall since Jan-19) and -12.5% across the top quartile (smallest fall since Nov-18).
Regional NSW Values across the most affordable quarter of properties are 0.6% lower (slowest growth since Nov-18), the middle of the market has recorded falls of -4.6% and the top quartile has recorded falls of -9.0%.
<img src="https://www.urban.com.au/images/2019/6/13/Declining%20Values%202.JPG" alt="">
Melbourne
The -13.8% fall across the most expensive quarter of dwellings is the smallest since Nov-18 while the middle of the market has seen values fall -10.1% (smallest fall since Jan-19) and the most affordable quarter has recorded a value fall of -0.9% (smallest fall since Dec-18).
Regional Vic
The most affordable quarter of properties have increased in value by 0.8% while the middle of the market has increased by 1.2% (slowest rate of growth since Sep-16) and the top quartile has fallen by -6.4% (the largest fall since Feb12).
<img src="https://www.urban.com.au/images/2019/6/13/Declining%20Values%203.JPG" alt="">
Brisbane
Values have fallen by -0.7% across the most affordable quarter of dwellings compared to a -3.3% fall across the middle of the market (largest fall since Feb-12) and a -6.2% fall across the most expensive quarter of properties (largest fall since Jan-12).
Regional Qld
The most expensive quarter of dwellings fell - 3.5% compared to a 0.7% fall across the middle of the market and a -0.3% fall across the most affordable quarter of the market.
<img src="https://www.urban.com.au/images/2019/6/13/Declining%20Values%204.JPG" alt="">
Adelaide
The most affordable quarter of dwellings have recorded growth of 0.9% (strongest growth since May-18) while the middle of the market has recorded a 0.3% increase and the top quarter of properties have recorded a fall of -2.7%, their largest fall since Jan-13.
Regional SA
The most affordable quarter of properties have increased by 0.3% over the past year (the strongest growth since Aug-18) compared to a 3.7% increase across the middle of the market and a 0.6% increase across the most affordable quarter of properties.
<img src="https://www.urban.com.au/images/2019/6/13/Declining%20Values%205.JPG" alt="">
Perth
Values across the most affordable quarter of properties are -2.4% lower over the year compared to an -8.9% fall across the middle of the market and an -11.6% fall across the most expensive quarter of properties.
Regional WA
The most affordable quarter of the market recorded a decline in values of -1.8% compared to -7.5% across the middle of the market and a -13.1% fall across the most expensive quarter, the largest fall since Jan-15.
<img src="https://www.urban.com.au/images/2019/6/13/Declining%20Values%206.JPG" alt="">
Hobart
The most affordable quarter of properties recorded a value increase of 4.6% over the year (the slowest rate of growth since Jun-16) compared to a 0.6% increase across the middle of the market (slowest growth since Jun-16) and a -0.5% fall across the most expensive properties (largest fall since Feb-15).
Regional Tas
The most affordable quarter of properties recorded an 8.8% annual increase (strongest growth since Nov-18) while the middle of the market recorded growth of 3.8% and the most expensive quarter recorded 3.0% growth over the year.
<img src="https://www.urban.com.au/images/2019/6/13/Declining%20Values%207.JPG" alt="">
Darwin
The most expensive quarter of properties across the city have fallen in value by -16.8% over the past year (largest fall since May-16) compared to a -17.0% fall across the middle of the market (largest fall on record) and a -14.6% fall across the most affordable quarter of the market (largest fall since Nov-18).
Regional NT The most affordable quarter of properties have recorded an increase of 11.3% over the past year, their largest increase since Apr-17 while the middle of the market has seen values rise 1.9% and the most expensive quarter of properties have fallen by -0.2%.
<img src="https://www.urban.com.au/images/2019/6/13/Declining%20Values%208.JPG" alt="">
Canberra
The most expensive quarter of properties have recorded no change in value over the past year while the middle of the market has recorded growth of 0.7% (slowest growth since Aug-16) and the most affordable quarter has recorded value growth of 1.3% (slowest growth since Jun-16).
<img src="https://www.urban.com.au/images/2019/6/13/Declining%20Values%209.JPG" alt="">
Over the past year, most capital cities and regional markets have been recording value declines. While values are broadly continuing to fall, the rate of these falls on a monthly basis has been slowing.
After having seen much larger corrections than the other two segments (following a larger growth phase), the most expensive segment of the market is seeing its rate of decline slow.
This is a trend that has played out before whereby premium housing values fall the fastest initially but also sees the falls cease earlier than other market segments.
It is still early days but with the housing market expected to trough in late 2019, the premium housing sector may find a floor first and start to show some level of recovery before the other segments.
CAMERON KUSHER  is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/taxonomy/corelogic-people/cameron-kusher" target="_blank">CoreLogic website</a>.
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ckusher-ujnxiKuFQs

Rate of value decline on the most expensive properties slowing: Cameron Kusher

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Four Australian capital cities rank in the top 23 cities around the world for luxury residential price growth, according to the latest global research from Knight Frank.
The Knight Frank Prime Global Cities Index – Q1 2019, revealed Brisbane was ranked 14 for luxury price growth, followed by Sydney (18), Melbourne (22) and Perth (23).
Overall the index increased by 1.3% in the year to Q1 2019, its lowest average annual rate of growth since Q4 2009, and down from 1.8% in the previous quarter.
Knight Frank’s Head of Residential Research Australia Michelle Ciesielski said although it was still rising, prime global residential price growth had continued to moderate due to political and economic headwinds, the rising cost of finance and more property market regulations around the world.
“The Australian luxury market continues to perform well, with Sydney, Melbourne, Perth and Brisbane all recording growth in luxury residential prices higher than the overall average of 1.3% in the 12 months leading up to the end of March this year."
“Despite a recent cooling of the market in Sydney and Melbourne, these markets recorded yearly price growth of 2.4% and 1.8% respectively, while Brisbane recorded year-on-year growth of 3.2% and Perth recorded growth of 1.8%.”
Ms Ciesielski added, Australia’s luxury residential markets were expected to continue to perform well going forward, particularly Sydney and Melbourne, where the number of high-net-worth individuals – those with a net worth of more than US$1 million, excluding their primary residence – was expected to grow by 21% from 2018 to 2023 to reach a total of 116,049 in Sydney and 68,888 in Melbourne.
<img src="https://www.urban.com.au/images/2019/5/16/Knight%20Frank%20Wealthy%20People.JPG" alt="">
“Over the past five years four millionaires were created every day in Sydney,” she said. “This is expected to rise to 11 millionaires per day over the next five years."
“In Melbourne, we saw three millionaires created per day over the same period, with projections it will rise to seven millionaires a day over the next five years."
“Perth’s millionaire numbers are expected to double from two per day over the past five years to four per day over the next five years, while for Brisbane the figures will triple from one to three millionaires being created every day over the same timeframe," Ms Ciesielski concluded.
Knight Frank Partner &amp; Head of Residential Australia Sarah Harding said, “Not only will there be more people with more money to buy luxury residential property in Australia, but we have found the majority of buyers in the prestige market across the country are not under the same pressures experienced by those in the mainstream market of minimal wage growth and restrictions on finance from the banks.
“Sydney is continuing to see positive growth in the prestige market, with limited luxury properties suitable for high-end buyers."
“They’re looking not only for superb quality finishes, but smart technology and high levels of privacy within their luxury residences."
“With competition for limited stock, we expect to see positive price growth for luxury homes, albeit at a more sustainable pace than in previous years,” Ms Harding concluded.
European cities accounted for seven of the top 10 rankings for annual growth.
Berlin was the top ranked city, with 14.1% annual growth, while Moscow placed second with 12% growth.
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Berlin leads as Australian luxury property price growth outpaces global average: Knight Frank

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The Sovereign Islands estate Villa Blue Waters remains listed for sale on Queensland's Gold Coast.
It's the glamourous Paradise Point property which comes with a $9.99 million asking price by the longtime luxury boat broker Grant Torrens. 
It is for sale through <a href="https://www.realestate.com.au/property-house-qld-sovereign+islands-126134314" target="_blank">Ali Mian at Ray White.</a>
It was built originally by a Japanese owner as a corporate retreat with five king-size en suite bedrooms, nine bathrooms, a day spa and an eight-car internal garage, along with approvals in place for an extra level to the home.
<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/2018/1/5/sov2.jpg" alt="">
It was last bought for $3.45 million in 2013 from Christian Ainsworth.
Villa Blue Waters had previously traded in 2010 for $7.2 million when sold by Gary McPherson.
With a 1950 sqm waterfront holding, the estate boasts a 64 metre straight line private marina frontage and a 70 metre super yacht marina berth, the largest in Queensland.
The are nine bathrooms and five kingsize bedrooms, one coming with a firework style bed head.
The property features a Versace Italian mosaic hydrotherapy room, a Turkish plunge spa and a waterfront gymnasium.
There is also fully sell contained Teppanyaki Cabana close to its 12 metre resort style mosaic pool.
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Villa Blue Waters, Paradise Point relisted at $9.99 million

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A bespoke four-bedroom sky home located in the Brisbane suburb of New Farm has just sold for $6.150 million.
Situated at 10/70 Bowen Terrace, its Darwin-based owner Brooke David purchased two apartments to create the the sky home, which was designed over 12 months by architect Justin O’Neill. 
The 670 sqm residence featured four-bathrooms, and was considered to be "next-level luxury" by Ray White New Farm duo Matt Lancashire and Christine Rudolph, who brokered the sale.
The luxury master bathroom centred around its bathtub, which was positioned under a magnetised crystal halo of lights, and enabled a view over the Story Bridge through the floor-to-ceiling glass walls.
“It was a home, yes it was definitely a sky home. I wanted a Manhattan-style apartment to take advantage of that view,” David said of the property.
“The bathroom really was huge and I had always planned to stay in Brisbane every second week but in the end I was only getting to Brisbane for three days of every month, so it was madness to keep it,” said the semi-retired owner.
"I’m sad to let it go but I’m happy it’s sold. It didn’t realty take that long in the end to sell.”
The sale was coordinated between Ray White New Farm along with Place Estate Agents duo Damian and Sarah Hackett.
"We ran an amazing campaign national campaign and we secured this buyer together in a sign of great coordination between some of Brisbane’s best leading agents," Lancashire said.
"Homes like this two-level luxurious apartment are in high-demand. It's as big as a prestige residence but without the maintenance," he said.
"We have many high net worth clients looking for very similar properties around Brisbane." 
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