Boutique development and construction firm <a href="https://www.apartments.com.au/developers/hsn-property-group">HSN Property Group</a> is the latest to seek a new apartment development through the NSW Government's&nbsp;Housing Delivery Authority.

They've filed a State Significant Development Application for a nine-storey building across nine consolidated lots on <a href="https://www.apartments.com.au/new-apartments/2-16-spencer-street-rose-bay-nsw-2029">Rose Bay's Spencer Street</a>, just 400m from the centre of the affluent suburb.

“The site’s location and context make it well suited to support a more diverse and sustainable residential offering in the area,” the developer stated in community consultation materials.

&nbsp;

The plans are for 54 apartments, 14 of which will be dedicated to affordable housing. There will be a mix of two- and three-bedroom apartments.

The proposal aims to contribute to housing diversity in the Woollahra Local Government Area while taking advantage of recent Low and Mid-Rise Housing Reforms introduced under the NSW Housing SEPP, according to the Scoping Report prepared by Urbis.

The architecture, led by <a href="https://www.apartments.com.au/architects/mhn-design-union">MHNDU</a>, reflects a "contemporary design approach sensitive to the character of Rose Bay." Communal amenities will include a wellness area with a pool and sauna, a gym, a wine lounge, and landscaped spaces with barbecue facilities.&nbsp;

“The proposed development will offer a suite of premium communal amenities designed to enhance resident wellbeing, foster social connection, and promote a healthy lifestyle,” the project team notes in its public materials.

Three levels of basement parking are planned, and EV charging facilities will be included, aligning with sustainability and transport objectives. A comprehensive traffic study is underway to assess and manage local impacts.

With 54 apartments, the proposal by HSN will be one of the largest developments in Rose Bay for decades. It tops the 50 apartments soon to launch by Orosi on <a href="https://www.apartments.com.au/new-apartments/the-avenue-rose-bay-1-the-avenue-nsw-2029">The Avenue</a>, near the Royal Sydney Golf Club.&nbsp;

Joel Robinson

First look: HSN plans Spencer St, Rose Bay apartment project

Lendlease’s Barangaroo South precinct is officially complete, marking the culmination of a 15-year urban regeneration project that has revitalised Sydney’s harbourfront.&nbsp;

In 2009, the NSW Government’s Barangaroo Delivery Authority appointed <a href="https://www.apartments.com.au/developers/lendlease-development">Lendlease</a> as developer to transform what was once an inaccessible container port on the western edge &nbsp;of Sydney’s CBD into one of the city’s most thriving mixed-use destinations. Today, Barangaroo South is home to more than 1,800 residents, 23,000 workers, 95 retailers and welcomes 33,000 visitors each day. The precinct stands as an international benchmark for large-scale urban regeneration.&nbsp;

International Towers Sydney, the three flagship commercial buildings at the centre of &nbsp;Barangaroo South, together with engineered timber buildings Daramu House and &nbsp;International House, attracted major corporate tenants from the outset, including Westpac, &nbsp;PwC and KPMG, who are still there today. These workplaces remain some of the most &nbsp;sought after in Sydney’s CBD with over 95 per cent occupancy– a testament to the appeal of world-class, modern infrastructure alongside the precinct’s dining and entertainment that &nbsp;are a drawcard for businesses.&nbsp;

One Sydney Harbour, the three luxury residential towers designed by world-renowned architect Renzo Piano, has achieved more than $4 billion in sales since its launch in 2019, while setting new Australia property price records. This includes the three-level penthouse that crowns Residences One which sold for more than $141 million in 2019 – the most expensive individual residential property ever sold in Australia. &nbsp;

[smartcode_project:default project_id=139801 project_image_fid=349150]

Barangaroo South is also Australia’s first mixed-use carbon-neutral development, an accolade achieved through energy-efficient and innovative infrastructure, including a district cooling plant with a harbour water heat rejection system, a recycled water &nbsp;treatment plant, onsite solar and an embedded electricity network.

The precinct has maintained its Climate Active Carbon Neutral certification since 2019, affirming its &nbsp;reputation as the gold standard in large scale, sustainable urban renewal. Additionally, its &nbsp;world leadership status has been validated by the Green Building Council of Australia’s &nbsp;6 Star Green Star Communities recertification (Pilot v.2).

[smartcode_project:default project_id=139801 project_image_fid=349157]

First Nations cultural values were embedded throughout the planning and delivery of the project. The precinct honours Barangaroo, a prominent First Nations woman, through its &nbsp;name. Public art, street names, and design elements across the precinct reflect and &nbsp;celebrate First Nations cultures and connections to Country.&nbsp;

The project's completion positions Barangaroo South as a legacy urban transformation delivered through long-term partnerships and world-leading urban regeneration and placemaking capabilities. &nbsp;

[smartcode_project:default project_id=139801 project_image_fid=349154]

Tony Lombardo, Group CEO Lendlease, said&nbsp;Barangaroo South represents one of the most significant urban regeneration projects in Australia.

"[It] demonstrates what can be achieved through an ambitious vision, innovative placemaking, long-term commitment and strong partnerships. The precinct has changed the face of Sydney's waterfront, established new benchmarks &nbsp;for sustainable development, and provided a model for urban regeneration that continues &nbsp;to inform our approach to creating places that deliver long-lasting value.”&nbsp;

Tom Mackellar, CEO Development Lendlease, said&nbsp;Barangaroo South has reconnected the city to its harbour in a way that seemed unimaginable 15 years ago and turned it into a thriving precinct where people can live, work and gather on the harbour’s edge.&nbsp;

“This precinct is the result of countless contributions, led by the NSW Government who set the ambition, supported by investment partners who believed in Lendlease’s vision, imagined by architects and designers, shaped by consultants and artists, and brought to &nbsp;life by our dedicated construction teams. &nbsp;

“What we’ve created here is more than buildings – it’s the best of placemaking, sustainability, arts and culture and quality design. Barangaroo South has become an integral part of Sydney that will serve our city and economy for generations.”

Staff Writer

Barangaroo South’s 15-year transformation of  Sydney’s waterfront officially complete

CBE Asia Pacific has lodged plans for a prominent corner site in Fitzroy North, with a proposal that integrates state-significant affordable housing alongside heritage adaptation and new retail.

The application covers a consolidated 2,024 sqm parcel at 201–215 Queens Parade and 6–12 Dummett Crescent. The site includes the heritage-listed Former Clifton Motor Hill Garage, fronting Queens Parade, and vacant land to the rear abutting Dummett Crescent.

According to planning documents prepared by proUrban, the proposal seeks approval for a 12-storey residential building comprising 98 apartments, including a component of affordable housing, over a ground floor retail podium integrated within the heritage structure. Approximately 780 sqm of retail space will occupy the ground floor, while residents will have access to over 850 sqm of communal amenity.

The built form presents as two connected volumes: a 12-storey tower addressing Dummett Crescent and a five-storey volume fronting Queens Parade, the latter consistent with a separate Heritage Victoria permit granted in 2023. The tower reaches a maximum height of 38.26 metres, with upper-level setbacks of 14 metres from the western boundary to reduce visual bulk. A 1.5-metre footpath widening is proposed to Dummett Crescent Lane.

Parking is provided across four basement levels, accessed via Dummett Crescent, with a total of 142 car spaces and 143 bicycle spaces.

The architectural response by <a href="https://www.apartments.com.au/architects/cht-architects">CHT Architects</a> is framed by a need to reconcile new density with a sensitive heritage overlay. The Former Clifton Motor Hill Garage, identified as a place of State heritage significance, will retain its key façades, with demolition and reconstruction limited to approved elements.

As noted in the Heritage Impact Assessment, the proposal remains consistent with the Heritage Victoria permit, which allows "partial demolition, reconstruction and new works, involving the construction of a five-storey multi-use development and three basement levels".

Affordable housing has been embedded into the proposal under Clause 53.23, with specific apartment allocations aimed at enhancing housing diversity within the Queens Parade Activity Centre.

"The proposal is generally consistent with the relevant policy objectives and the intent of the Yarra Planning Scheme," proUrban states in its planning assessment, citing its alignment with strategic documents including Plan Melbourne and Victoria’s Housing Statement.

CHT Architects' plans emphasise a tiered design that acknowledges the site's varied interfaces—from the elevated Heidelberg Road ramp reserve to the recently built Clifton Views aged care facility to the north-east.

CBE Asia Pacific has not been previously active in this precinct, but the project joins a wave of higher-density residential proposals along the Queens Parade corridor, spurred by Melbourne’s broader push to increase affordable housing in well-connected inner-urban areas.

The site benefits from direct access to the Queens Parade tram corridor and proximity to Clifton Hill Station (approximately 200 metres), as well as green open spaces including Mayors Park and Raines Reserve. Clifton Hill Primary School and the Queens Parade retail village lie within walking distance.

First look: CBE Asia Pacific plans 100-apartment Jenkin House on Queens Parade, Fitzroy North

ALT Pasta, one of Melbourne’s most beloved inner-city pasta bars, has been confirmed as one of the first tenancies for the highly anticipated <a href="https://www.apartments.com.au/new-apartments/comme-prahran-182-194-commercial-road-prahran-vic-3181">Comme Prahran</a> development, marking an exciting next chapter for the cult favourite as it prepares to expand into the heart of <a href="https://www.apartments.com.au/developments/prahran-vic-3181">Prahran</a>.

Fresh off being named National Best Italian Restaurant at the 2025 Restaurant &amp; Catering Hostplus Awards for Excellence, ALT continues to solidify its reputation as a quietly confident leader in Melbourne’s dining scene. Lauded for its reinterpretation of Italian pasta through a Korean and Japanese lens, the restaurant has grown into a staple since opening three years ago, and its new Prahran outpost will only deepen its local impact.

“From the very beginning, ALT has been about respect - for tradition, for ingredients, and for the process,” shares Mino Han, ALT’s founder, a Korean-Australian chef whose vision is shaped by cultural duality and craftsmanship.&nbsp;

“We’re not trying to reinvent the wheel, just make something beautifully familiar, feel quietly special,” added Han.

[smartcode_project:default project_id=108413 project_image_fid=353585]

Positioned at the entrance to Comme Prahran and directly opposite the iconic Prahran Market, the new venue will celebrate the interplay between casual comfort and elevated detail. Designed in collaboration with Rooftop Architecture, the same team behind ALT’s flagship city location, the space will mirror the neighbourhood’s laid-back energy while staying true to the brand’s understated refinement.

Diners can expect a frequently changing menu that takes advantage of the market’s daily produce, along with set menu offerings exclusive to this location. A distinctive chef’s table and open kitchen format are also in the works, allowing guests to experience ALT’s signature intimacy and transparency in a new light.

ALT Prahran won’t replace the original venue; rather, it complements it.

“Our city site is like our heritage bottle; it’ll age gracefully. Prahran is where we’ll play, explore new ingredients, and bring something special to the community,” Mino notes.

[smartcode_project:default project_id=108413 project_image_fid=353584]

For Comme Prahran, a boutique development by Leeka that blends heritage with multi-dimensional wellness, ALT Pasta’s arrival signals a meaningful addition to its vision of cultural connection, food-first living, and local engagement.

“Being part of Comme is more than just opening a second venue. It’s about contributing to a neighbourhood with character, history, and a strong sense of community. That’s something we deeply relate to,” says Mino.

Sustainability and cultural identity are deeply embedded in the ethos of ALT. From ingredient sourcing to interior design, the new location will reflect both environmental mindfulness and a spirit of inclusion, embodying the values of Melbourne’s diverse, forward-thinking culinary scene.

Comme Prahran is scheduled for completion in late 2027, with ALT Pasta expected to be among the first tenancies to open its doors shortly after.

[smartcode_project_cta:default project_id=108413]

National best Italian restaurant ALT Pasta to open at Comme Prahran, bringing refined familiarity to Melbourne’s culinary heart

National BEST Italian restaurant ALT Pasta to open at Comme Prahran

&nbsp;Boutique development and construction firm Ryser has filed plans for its debut apartment building.

Ryser, founded by Jonthan Ryan and Wil Prosser, has sought to develop <a href="https://www.apartments.com.au/new-apartments/sorelle-4a-fern-place-woollahra-nsw-2025">Sorelle</a>, 28 new apartments at 4a Fern Place, Woollahra.

The&nbsp;750 sqm site on the edge of Bondi Junction falls within the Grafton Precinct Heritage Conservation Area, though it is currently vacant and not identified as a contributory item.&nbsp;

<a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> has been commissioned to design Sorelle, creating an eight and a nine-storey building with six apartments dedicated to affordable housing to support essential workers&nbsp;under the NSW Government’s low and mid-rise housing policy.

The dwelling mix includes 12 one-bedroom units, six one-bedroom affordable units, six two-bedroom units, and four three-bedroom residences.<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="86626941-772d-49c5-8d31-a8e42f44cdcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20st.png?VersionId=tWIzXYX9gD60nP1L3..Z0BFbY5mafb36" />

According to the planning documents submitted to the Woollahra Council, the development responds to the complex interface of heritage fabric and urban infrastructure with two mid-rise residential buildings oriented to the north and designed to capitalise on sweeping views over Sydney Harbour and Bellevue Hill.&nbsp;

“The proposal aims to hero some of the brick detailing of Woollahra, celebrating the existing datums of Fern Place, whilst embracing the strong verticals of the Holy Cross Church and Bondi Junction with a nod to the historic iron works and iron rich soils of the area,” Woods Bagot noted in their Design Report.

&nbsp;

Only three car parking spaces are proposed, alongside 33 bicycle bays, in a move that leverages the site's proximity to Bondi Junction train station, just 400 metres away.

Architecturally, the material palette incorporates Corten steel and face brickwork to reference the site’s industrial past and local geological character. Landscaping features include a communal garden bridging the two buildings at ground level, landscaped setbacks to protect visual privacy, and a small corner park intended to soften the public interface.

<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="f71766d6-aa14-44df-9bc5-42f91890fd4a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20rear.png?VersionId=uh7u1rJ6NJF5OqyRs9iNJcy6R9ssgaXU" />

Ryser said Sorelle "brings together the best of both worlds, the intimacy of village life with the amenity and luxury of modern design."

The developer said the project marks the first of three developments they will be announcing shortly, a key step in their&nbsp;evolution as a builder-developer delivering meaningful, high quality urban outcomes across Sydney.

The expectation is the Woollahra LGA will become popular for developers with the signal from the NSW Government they will deliver&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw" target="">Sydney</a>’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025" target="">Woollahra</a>&nbsp;and&nbsp;<a href="https://www.apartments.com.au/developments/edgecliff-nsw-2027" target="">Edgecliff</a>&nbsp;stations.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/next-stop-woollahra-train-station-delivering-up-to-10-000-new-homes-in-the-heart-of-sydney">Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney&nbsp;</a>

First look: Ryser plans two apartment buildings on Woollahra, Bondi Junction border

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

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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
 
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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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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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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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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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