<a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a> is one of Melbourne's longest standing architecture firms.

Founded in Melbourne in 1853 by Joseph Reed, the firm began as Reed &amp; Barnes and has evolved through various partnerships before adopting the Bates Smart name in the 20th century. With a continuous presence spanning more than 170 years, the practice has played a pivotal role in shaping Melbourne’s architectural identity.

In the 19th century, Bates Smart designed several of Melbourne’s enduring landmarks, including the Royal Exhibition Building (1880), a UNESCO World Heritage site, and the Melbourne Town Hall. The firm’s influence continued into the 20th century with notable works such as Ici House (1958), considered Melbourne’s first modern skyscraper and a milestone in post-war Australian architecture.

One of their landmark designs was&nbsp;The First Church of Christ, Scientist, at 336-340 St Kilda Road. The building, which is listed on the Victorian Heritage Register, was designed by Bates, Peeble and Smart with construction completed in 1922. Architecturally, the building is significant as a rare example of early twentieth century classicism applied to a religious building. Historically, the building is significant as the first church of the Christian Science movement.

Melbourne developer Time &amp; Place decided to bring Bates Smart back to the area to design their next residential apartment project, Park Modern.

[smartcode_project:default project_id=138453 project_image_fid=2138]

<a href="https://www.urban.com.au/new-apartments/park-modern-south-melbourne-1-middleton-lane-south-melbourne-vic-3205">Park Modern</a>, on one of the largest island sites on the Melbourne CBD fringe, bordered by Dorcas Street, Wells Street, and Middleton Lane, will comprise two sculptural towers. It is being positioned as a design-forward response to evolving owner-occupier preferences in the Domain precinct.

Tim Price, Director at <a href="https://www.apartments.com.au/developers/time-place">Time &amp; Place</a>, says&nbsp;Bates Smart have got a footprint on this city, probably like no other architect.

"It’s a really nice kind of next chapter story, that they created from a design perspective so long ago," Price told Apartments.com.au.

Park Modern will be the third time Time &amp; Place has worked with Bates Smart, having successfully designed and delivered Collins House and Opera on St Kilda Road together.

The brief focused on creating a built form that would feel contextually appropriate while offering a contemporary evolution of inner-city apartment living.

[smartcode_project:default project_id=138453 project_image_fid=2137]

The focus for Park Modern is squarely on owner-occupiers.

“It’s not always about downsizing," Price says.

"Sometimes it’s just about creating a space which is easily maintained, lock up and leave, reflecting people’s aspirations, whether they’re entertainers, big dining room spaces, big open terraces, they’re important parts of any design consideration.”

The building includes a mix of one, two and three-bedroom apartments, as well as penthouses, with layouts and floor plans designed to suit a broad demographic. The architecture has been shaped to capture&nbsp;view corridors to the Botanic Gardens, Port Phillip Bay and the CBD skyline.

Each apartment has been oriented to maximise natural light and provide a clear outlook, elements often cited by owner-occupiers as key criteria.

[smartcode_project:default project_id=138453 project_image_fid=351806]

Rather than defaulting to a generic luxury offering, the amenity strategy at Park Modern reflects specific insights into how residents want to live. The ground floor will include co-working areas, wellness facilities, and a concierge-led lobby that blends indoor and outdoor design cues.

“Wellness has become a more thoughtful consideration, not just gyms or lap pools, but things like magnesium plunge pools, saunas, daybeds, and studio spaces for Pilates and the regular cardio workout,” says Price.

One notable inclusion is a substantial porte-cochère, a covered vehicle drop-off zone integrated into the site plan. It’s a feature rarely seen in inner-urban developments and speaks to the team’s emphasis on ease of arrival and departure for residents and guests.

A display suite for Park Modern is now open by appointment, giving prospective buyers an early look at the project.

[smartcode_project_cta:default project_id=138453]

Joel Robinson

100 years on, Bates Smart returns to South Melbourne's Domain Precinct to design Park Modern

One of the most significant beachfront projects ever proposed for the small suburb of Miami on the Gold Coast, has taken a major step forward.&nbsp;Monaco Property Group has secured approval for <a href="https://www.apartments.com.au/new-apartments/nalu-miami-122-marine-parade-qld-4220">NALU</a>, a $500 million development comprising just 45 ultra-luxury residences on the iconic former Nobby’s Outlook site.

Acquired by <a href="https://www.apartments.com.au/developers/monaco-property-group">Monaco Property Group</a> in 2024 for $70 million, the rare 7,238 sqm Marine Parade parcel boasts more than 80 metres of uninterrupted ocean frontage.

With approvals now secured, Monaco Property Group will move NALU into its delivery phase. The project has been designed by&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, who collaborated with&nbsp;<a href="https://www.apartments.com.au/landscape-architect/ldg-landscape-architecture">LDG Landscape Architecture</a> and <a href="https://www.apartments.com.au/interior-designers/tom-mark-henry">Tom Mark Henry Interiors</a>&nbsp;to create the low-rise building, its landscaping, and interiors.

<img alt="NALU" data-entity-type="file" data-entity-uuid="3fdf578e-7cc4-4b17-bbc2-ba853522a5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/122_Marine_Parade_002.jpg?VersionId=zFhJWVzX0jmCO.5iIIxNELImHesTjWS4" />

Residences will range from 237 sqm layouts to beachfront homes exceeding 1,400 sqm.

At the heart of the project is a 2,200 sqm lifestyle precinct with a bathhouse, fitness centre and resort-style pool, elevated by a concierge service.

Jonathan Grasso, Co-Founder of Monaco Property Group, said the council approval marks an exciting milestone for NALU, which will launch in Q1 2026.

“The project will now progress toward construction, working alongside our world-class collaborators to bring NALU to life," Grasso said.

“Our vision is to create a legacy project for the Gold Coast, one that not only honours the history of the site but also elevates its future, setting a new standard for coastal living in Australia. NALU embodies the pinnacle of design and location and will stand as an enduring icon of prestige and liveability.”

<img alt="NALU" data-entity-type="file" data-entity-uuid="6ae8545b-87ca-4dea-90ed-ac273ec6515d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Image7.jpg?VersionId=Wnmie4bu3x2WQonnG4Pwmh39NdZVKeOV" />

Originally developed in the 1970s as Nobby’s Outlook and later refurbished in 2019 as Nalu, the property has long held a place in the local community’s coastal identity. The new vision will build on this legacy, creating luxury residences that capture ocean views while fostering a lifestyle defined by wellness, connection, and ease.&nbsp;

Beyond its residential offering, NALU will deliver significant economic benefits to the Gold Coast through job creation and opportunities for local suppliers and contractors. Construction is anticipated to commence in early 2026, with completion expected in Q3 2028.

Monaco Property Group approved for $500 million NALU apartments on Miami beach

The most elevated residential tower in Palm Beach, <a href="https://www.apartments.com.au/new-apartments/corallo-palm-beach-5-palm-beach-avenue-palm-beach-qld-4221">Corallo</a>, has officially launched this week, however only a handful of buyers will have an opportunity to buy in to the 17-storey project.

The $200 million mixed-use project includes ground floor dining and retail and is considered so valuable its developer, <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a>, will be staging its release of one-, two- and three-bedroom apartments and penthouses to the market.

[smartcode_project:default project_id=112194 project_image_fid=806]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> International, Director, David Higgins, said the development’s location just metres from the beach on the corner of Palm Beach Avenue and the Gold Coast Highway influenced the sculptural design by the acclaimed Plus Architecture studio.

“<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> locals understand the rare opportunity here at Corallo, particularly being the tallest building in the suburb and its proximity to the beach and local restaurants, and they’ve represented the bulk of pre-launch enquiries,” Higgins said.

“The orientation of the apartments captures views of the coastline from Surfers Paradise to Currumbin, and the diversity of floor plans and apartment types provide an exceptional level of choice.

“The first release includes just 59 one-, two and three-bedroom apartments and two half-floor penthouses, with flexible use designed to appeal to both owner-occupiers and investors."

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=799]

In addition to the ground floor amenity, residents will also have access to a private dedicated wellness level offering 734 sqm of resort-style amenities including a pool, cold plunge, wet deck, steam room, sauna, gym, day bed, fire pit, barbecue area, dining area and yoga/stretch deck.

The project is located within walking distance of Tallebudgera Creek, Burleigh Heads village, Currumbin Alley and Palm Beach Currumbin High School. The Gold Coast Airport is under 10 minutes away.

[smartcode_project:default project_id=112194 project_image_fid=814]

Higgins said Palm Beach remained a hotly contested suburb for home buyers, with prices doubling in the past five years.

“What makes Corallo so appealing to the local market is the diversity of apartment types and pricing, with one-bedroom apartments starting from $841,000 and two-bedroom apartments starting from $1.34 million,” he said.

“The ground floor retail and dining offering will further expand on Palm Beach’s village atmosphere and create a meeting place for locals, and those opportunities for connection are highly valued.”

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=807]

The on-site sales display, which includes a fully fitted kitchen, bathroom and bedroom, will be open until early works commence in Q1 2026. Each residence at Corallo will feature premium finishes including natural stone, artisanal brickwork, and warm copper accents.

Changfa Group has a two-decade history of delivering premium developments in Australia and internationally, having recently completed its collection of premium townhomes at Lyra, Hope Island, as well as apartment projects in Leichhardt, Carlingford, and Chatswood in New South Wales.

[smartcode_project_cta:default project_id=112194]

$200 million Corallo Palm Beach launches with limited apartment release

In a move that aligns with NSW's accelerated planning incentives for affordable housing, developer&nbsp;<a href="https://www.apartments.com.au/developers/the-one-collection">One Collection</a> has revised its Hills District apartment plans, and taken it to the NSW Government, to secure approval.

The developer, which is currently delivering Horizon Hurstville, is seeking to add 80 more apartments to its <a href="https://www.apartments.com.au/new-apartments/the-one-castle-hill-16-dawes-avenue-nsw-2154">Castle Hill development</a> near Castle Towers. They already have approval for 280 apartments across eight six-storey buildings.

<img alt="One Collection" data-entity-type="file" data-entity-uuid="b3c298ba-1cc5-4db7-9872-607c75f8ceca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.22%E2%80%AFAM.png?VersionId=wN9KpFIu5ENSGZLLsaZgXQHrXcwEO3Vd" />

Now on the desks of the NSW Department of Planning is 360 apartments, 48 of which will be dedicated to affordable housing.&nbsp;Affordable housing is to be “fully integrated within the building and visually indistinguishable,” according to the planning submission.

The 15,697 sqm block, an amalgamation of 16 sites, spans across Dawes Avenue, Hughes Avenue, and Camdan Crescent, sits 550m from Hills Showground Metro Station.&nbsp;

"The existing context is quickly changing from free-standing homes into residential flat buildings in line with the Hills Showground Precinct planning framework," Place Studio noted.

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="3ec24948-c185-48fa-af8b-ed25adf302bf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.04%E2%80%AFAM.png?VersionId=zNDX.IeRROX1RlDeYcS38xn8w_dqgU2t" />

They said the design was informed by the site's unique condition of having three street frontages and was developed to to respond sensitively to iots surrounding context.

"The design adopted a conventional perpendicular alignment to the primary street frontage. The massing of the development was carefully modulated to align with the evolving character of the neighbourhood. The design ensured that the scale was not excessive or out of context, but instead contributed to a cohesive urban form consistent with emerging developments in the area."

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="f83ffdaa-f960-469d-b6fe-abcece57c9ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.09%E2%80%AFAM.png?VersionId=4oKlCyfaKes7jLi1_EMoqa46w2h_YvDZ" />

The apartment mix will be 46 one-beds, 168 two-bed apartments, and 146 three-bedroom units, with 631 parking spaces proposed.

Along the street frontages, the building heights are four storeys with a 7.5 metre setback, and eight storeys with an 11.5 metre setback. It should cost about $150 million to build.

One Collection works hand-in-hand with the respected development and construction firm Masscon, which has built a reputation for leveraging its expertise in the built environment to take on developments others can't. That's what they're achieving at Horizon Hurstville, having taken over the project to deliver it.

First look: One Collection advances plans for Castle Hill apartments

At Yarra’s Edge, <a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>’s newest tower under construction, <a href="https://www.apartments.com.au/new-apartments/trielle-at-yarra-s-edge-docklands-16-point-park-crescent-docklands-vic-3008">Trielle</a>, sets a new benchmark for elevated living. Rising 45 storeys, 12.5 metres from the Yarra River, the landmark building offers residents access to a private wellness retreat and spa, a resident-only golf simulator, and an elegant lounge, dining and bar complete with a self-playing piano, all without ever having to leave home.

Now, that sense of elevation has reached new heights with the Aerus Sub-Penthouses, a limited release of half-floor riverfront residences on the Collins St axis where the sought-after street meets the Yarra River.

Each Aerus Sub-Penthouse, located across levels 42 and 43, represents the most expansive offering within Trielle, aside from the yet-to-be-revealed crowning penthouses. Spanning between 269 and 301 sqm, these residences are designed to capture natural light and uninterrupted views of the city skyline, Yarra River, and Port Phillip Bay.

[smartcode_project:default project_id=114216 project_image_fid=3784]

Among the collection are three-bedroom sub penthouses, complemented by a media room, and expansive four-bedroom layouts. All include panoramic living areas and oversized master suites with luxury ensuites reminiscent of a five-star hotel, complemented by dedicated dressing rooms finished in timber and natural stone.

The interiors have been crafted by <a href="https://www.apartments.com.au/architects/mirvac-design">Mirvac Design</a>, the developer’s award-winning in-house architecture and design team. Every material has been chosen for quality and longevity, from sculpted stone island benches with feature soft wash LED lighting to bespoke joinery and chevron timber oak flooring.

Kitchens are fitted with a BORA induction cooktop with integrated downdraft extractor, alongside Gaggenau appliances, including a fridge, freezer, and wine fridge. The adjoining butler’s pantry incorporates the exclusive Gaggenau Minimalistic Series including oven, steam oven, microwave, coffee machine and warming drawer, all concealed behind handleless glass panels for a clean, integrated presentation. Bathrooms feature custom Apaisar freestanding baths and basins and natural stone benchtops, continuing Mirvac’s design emphasis on tactile, timeless materials.&nbsp;

[smartcode_project:default project_id=114216 project_image_fid=353085]

Michael Wiener, Design Director at Mirvac, says The Aerus Sub-Penthouse embodies the apex of Mirvac’s design ethos.

“Moving through your home is like walking on air - a private sanctuary where the craftsmanship is refined, the proportions generous, and the flow so effortless, you feel completely at ease in the sky,” Wiener says.

“In Aerus, we wanted to create a sense of weightlessness - a home that feels suspended in the skyline, full of light, grounded in luxury.”

[smartcode_project:default project_id=114216 project_image_fid=3777]

The Aerus Sub-Penthouses are expected to attract a mix of local and international buyers seeking a long-term residence of scale and quality in a riverfront setting, from returning expats to established families and business owners who value privacy, craftsmanship, and convenience within walking distance of the CBD.

With an unmatched suite of amenities, Trielle is the most extensively appointed development Mirvac has created to date at Yarra’s Edge. Within the tower will be The Oasis, a 900 sqm podium rooftop wellness retreat designed in collaboration with spa expert Naomi Gregory. Located seven storeys above the Yarra River promenade, it features a 25-metre lap pool, spa and sauna, hot magnesium spa, biophilic gym, yoga and Pilates studio, cold-pail contrast treatment, and day spa treatment rooms. Further amenities include a piano lounge, bookable dining room, cinema room, golf simulator studio, games room, teppanyaki bar, dog wash bay, and two flexible work hubs, The Biblioteca library and Mills Place office space, catering to residents’ evolving lifestyle needs.

Construction of the $350 million tower is underway through Mirvac’s in-house construction arm, with completion anticipated for mid-2027.

[smartcode_project_cta:default project_id=114216]

Sky-high sanctuaries: Mirvac unveils The Aerus sub-penthouses at Trielle

Prestige Market

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EXPERT OBSERVER
Have you ever wondered what it takes to own a property in the top two percent of the market?
Nationally, you’ve made it into the 98th percentile if you own a house worth at least $2.16 million (roughly $1.6 million above the national median house value) or a unit worth $1.43 million (about $930k higher than the national median unit value) or higher.
Although the national entry point to the top 2% club looks extremely high for most of us, the national figure is skewed higher by Sydney and Melbourne where housing values are much higher.
A 98th percentile house would set you back at least $3.21 million in Sydney ($2.3 million above the median) and $2.53 million in Melbourne ($1.8 million above the median), while in more affordable areas such as regional South Australia, the top 2% of the market is a much lower $553,790.
<img src="https://www.urban.com.au/images/2019/10/25/2%20CL%201.JPG" alt="">
Darwin is the only capital city where the 98th percentile for a house is less than $1 million, at $878,100, while across the regional areas of each state, every area apart from Regional NSW and Regional Qld, shows a 98th percentile lower than $1 million.
The top two percent of the market is lower for units, with every capital city except Sydney and Melbourne showing a 98th percentile below $1 million.
Sydney’s 98th percentile unit value was $1.88 million in September ($1.17 million above the median) and Melbourne’s 98th percentile unit value was $1.20 million ($651k above the median).
But what if being a national or city wide two percenter isn’t quite enough? Across New South Wales the municipality with the highest 98th percentile is Woollahra at $8.16 million, followed by Mosman ($7.79 million) and North Sydney ($6.04 million). Outside of Sydney, the Byron Shire has the highest 98th percentile house value at $1.8 million.
<img src="https://www.urban.com.au/images/2019/10/25/2%20CL%202.JPG" alt="">
In Victoria, the Stonnington council has the most exclusive 2% of houses with a 98th percentile of $6.88 million, followed by Melbourne ($3.94 million) then Boroondara ($3.90 million). Across the regional parts of the state, the Surf Coast has the highest 98th percentile value at $1.33 million.
In Queensland, the highest 98th percentile house value can be found at Noosa on the Sunshine Coast, tracking at $1.87 million in September, followed by Brisbane ($1.52 million) and Gold Coast ($1.33 million). Outside of South East Queensland, the highest 98th percentile house value can be found at Douglas (north of Cairns) at $9.43 million.
South Australia’s Burnside council shows the highest 98th percentile at $1.66 million, with Unley ($1.66 million) and Walkerville ($1.55 million) taking up the second and third positions. Across the regional areas of the state the council of Yankalilla tops the 98th percentile at $708k.
Western Australia’s most expensive municipalities all show a 98th percentile for houses above $3 million, led by Peppermint Grove at $3.82 million and followed by Cottesloe ($3.35 million) and Nedlands ($3.11 million). Although housing values have dropped by more than 20% across Perth, these three areas remain in the national top 20 for the highest 98th percentile house value.
Outside of Perth, the highest 98th percentiles are at Busselton as well as Augusta-Margaret River, both at $1.4 million.
Across Tasmania, the only municipality with a 98th percentile house value over $1 million is Hobart, at $1.25 million. Kingborough ($874k) and Clarence ($816k) round out the top 3.
Outside of Hobart, the Huon Valley council area tops the 98th percentile at $667k. Across the Northern Territory, Alice Springs tops the 98th percentile rankings at $961k, followed by Darwin at $953k.
TIM LAWLESS is the CoreLogic Head of Research
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tlawless-5VLUrbAk9s

The cost to own a property in the top 2% of the market: Tim Lawless

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Being a regional area, the Coffs Coast realistically sees the prestige market as starting at the $1 million mark which is predominantly driven by out of town buyers, according to the November report from valuation firm Herron Todd White.
HTW found that the largely discretionary type buyer to whom prestige property greater than $1 million appeals can be greatly impacted by changed economic conditions. Plus this market is also heavily influenced by the performance of the capital city markets as these areas traditionally provide the majority of buyers for prestige housing on the Coffs Coast.
Market conditions have continued to swell for properties over $1 million in recent years as confirmed by the increased sales numbers for both beachside and rural residential properties over $1 million, however the majority of sales occur within the $1 million to $1.5 million price bracket.
However, the higher the value, the thinner the market and historically there have been very limited sales over $2 million.
"Sale volumes for prestige beachside property in the Coffs Harbour region (encompassing the beachside suburbs and townships including Coffs Harbour, Korora, Sapphire Beach, Emerald Beach, Sawtell, Woolgoolga, Safety Beach, Arrawarra Headland, Moonee Beach, Boambee and Mullaway) show a total of 11 sales recorded over $2 million since 2007 and we recently cracked the $3 million mark for 147 Edinburgh Street, Coffs Harbour at $3.25 million (multi level, architectual dwelling with ocean and harbour views located within the sought-after Jetty precinct)," according to HTW Property Valuer Grant Oxenford.
"Notwithstanding this figure, we are now experiencing a spike in the prestige market which has been fuelled by the COVID pandemic."
"The changing face of the way we live and work plus the willingness of city dwellers to relocate to regional areas to escape COVID restrictions has created a definite increase in demand."
"The majority of this prestige activity has been in the rural residential sector with notable sales including 1-9 Tidal Crescent, Moonee Beach for $2.4 million (five dwellings set on 1.22 hectares with extensive estuary views), 123-125 Featherstones Road, Sherwood for $2.4 million (five dwellings on 70 hectares with extensive infrastructure), 606 Valery Road, Valery for $2.1 million (two dwellings on 51 hectares, fully renovated and landscaped) plus the most recent transaction which has broken all records for rural residential property at $3.3 million for 110 North Island Loop Road, Upper Orara (prestige architectural dwelling with second original cottage set on 42 hectares)," he added.
The rural township of Bellingen (35 kilometres south-west of Coffs Harbour) has been a historically strong performer with the 'out-of-town' market and has seen four rural residential sales in excess of $1.5 million within the past four months.
It is interesting to note that the majority of the properties mentioned above have been marketed for in excess of 12 months and in some cases three years which is also an indicator of the traditional thinness of this market and the recent increase in demand as a result of the COVID pandemic.
Mr Oxenford said, "the question one must ask is whether these values are sustainable or is this a bubble created by a false market driven by the pandemic. The answer to that is not simple and without a crystal ball, no one really knows, other than to comment that this is not a normal property cycle."
"As a result of the market primarily being driven by out of town buyers, personal preferences, presentation and motivation of both the purchasers and vendors will impact the ultimate sale price and can result in wider market parameters than those experienced for lower priced properties."
"At this point in time, we can only hang on and enjoy the ride; great if you are a seller, not so good for the buyers," he concluded.
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j.ballantyne1990-6AQqhLzZaK

Coffs Harbour prestige market seeing pandemic spike: HTW

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Buyers in the prestige sector can probably choose to live in any of Australia’s major capitals, but those who select Brisbane are often pleased at the calibre received at that price point, according to the November report from valuation firm Herron Todd White.
HTW found that back toward the end of last year and heading into 2020, there were early signs the market was about to surge, particularly for detached housing in the inner-city. But the pandemic saw property markets slow from March through to July, with transaction numbers grinding to a crawl.
Owners who didn’t need to sell their homes were holding off listing and buyers, who were filled with uncertainty, were also scarce, however, this seems to have turned a corner in recent months.
David Notley, HTW's Brisbane Director said, "Queensland’s successful suppression of the virus coupled with our functioning economy has resulted in more action across the prestige sector from August through to present. And it looks to be sustainable, with our market sources saying current activity is similar in Queensland momentum to that experienced prior to the pandemic’s grip. It also appears that prices are holding… and even increasing in some instances. Many will be surprised by this result."
"Typically, an anxiety-inducing global event like COVID-19 would have severe impacts on the property market, and the prestige sector in particular given the discretionary nature of its buyers and sellers. Instead, Brisbane’s upper-price sector has remained resilient. There’s good demand from local owner-occupiers of course, but interest from interstate appears to be surging too. It seems the chance to relocate to our city, with its excellent lifestyle and relative freedoms (compared to Melbourne, for example) is a magnet for the moneyed up. In fact, once state borders open fully, there’s widespread expectation we’ll see an even stronger market in these upper price points with new Queenslanders looking to come on up and settle both in our capital and on the coasts."
"Digging down a little and a comparison of prestige property performance in 2020 to the 2019 calendar year reveals very similar numbers of sales in that upper price echelon. Our analysis shows that in Brisbane there were 15 detached dwelling sales above $5 million during 2019. In 2020 to date, there have been 10 confirmed sales with another seven under contract."
"It’s worth factoring in that 2019 wasn’t a standout year in the $5-million-plus bracket. This was the result of a number of macro financial changes instigated by Australian regulators which constrained available credit, the impact of the recent Royal Commission into the banking sector and the implementation of its findings, the unsure nature of the federal election in early 2019 and the negative media emerging from the southern states throughout this period."
"The outcome in 2019 was longer selling and marketing periods for properties and, in some instances, a softening in asking prices. But 2020 has proved resilient – even sparkling – and there is an optimism in the air about the coming year. Let’s hope it proves out," Mr Notley concluded.
Here are a few examples of $4 million-plus apartment sales in Brisbane this year.
350/1 Newstead Terrace, Newstead is under contract for $7.35 million. This fifth-level penthouse is in Pier South.
The property is a fourbedroom, four-bathroom, four-car apartment with a total area of 527 square metres. Apart from the usual high-end fitout and spectacular river views, the Pier South development comes with an onsite concierge service… as you do.
Another cracking sale was 3511/30 Hollins Crescent, New Farm which is under contract for $4.81 million. This is a fifth level apartment in the Mitchell building with views taking in the CBD, Story Bridge and the Brisbane River. The apartment is over 350 square metres in area and provides four-bed, threebath, four-car accommodation.
Also on the luxury apartment list is 3/81 Moray Street, New Farm which sold this year for $4.8 million. The property is on level three of the AQUILA development which has a total of ten one-per-floor residences. It has a prime location, luxe fitout and sweeping CBD views available.
The apartment provides for four-bed, three-bath, three-car accommodation all across 418 square metres of living area.
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Brisbane prestige market surge has arrived as forecast: HTW

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Geelong’s property market is diverse and consists of a variety of property types appealing to all sorts of buyers, according to the November report from valuation firm Herron Todd White.
HTW found that residential property in Geelong has continued to exceed expectations as it becomes an increasingly desirable place to live. This has become evident with suburbs across the region breaking sales records throughout the year.
Lorne has recorded a new residential sales record with 1 Roadknight Street selling for $7.25 million earlier this year. Three bidders competed for the property in a private auction. Set on a north-facing 1,800 square metre block, the architectural home designed by Spaces Design Group and built by GD Constructions offers a private, resort-like compound with five-bedrooms and five-living spaces.
Lorne has proven to be one of the most sought-after locations, recording its second highest ever residential sale when 77-79 Smith Street sold for $5.75 million in March. The suburb has seen six properties exceed the $2 million mark across the year.
Opportunities to buy in Lorne are present in a number of off the plan residential developments including...
There are xxx developments available or soon to be across Lorne.
One property in Jan Juc recently hit the open market, 7 Seahaven Place. It is architect-designed and offers panoramic ocean views.
Tipped to sell for roughly $4 million, it features a U-shaped design.
Closer to the city centre, the highest current listing is 27 The Esplanade. Known as Carmyle, the property sits on Geelong’s front row, with uninterrupted waterfront views, situated on a 1,500 square metre block.
Built in 1929, the art deco influence is prevalent with period details throughout and is currently listed at $4.5 million.
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Geelong prestige property continues to break records: HTW

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The lower north shore prestige market experienced a fluctuating year in 2019, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
 The report notes the market started very slowly with the number of transactions significantly down, although the second half of the year saw a notable improvement in market activity. 
"We expect there to be continued high buyer confidence in 2020 within this sector of the market, barring any unforeseen financial or international turmoil. 
"We believe that transaction numbers and sale prices throughout the year will remain strong, although not at the levels seen during the peak of the market cycle," the valuation firm said. 
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The report notes Mosman could well see its suburb record sale price broken this year.
 It was previously set in 2018 with a $25 million sale on Hopetoun Avenue. 
The property as <a href="https://www.realestate.com.au/property-house-nsw-mosman-131588450" target="_blank">2 Rosherville Road, Mosman</a> (pictured below), set on 1473 square metres of waterfront land, is currently on the market with a reported asking price of around $30 million (news.com.au).
<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/2020/2/10/mosman%202.jpg" alt="">
 
"This property has been on the market since the middle of 2019 so we will wait to see if market conditions this year support the property transacting at this price level."
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"The inner Sydney prestige market will continue to be buoyed throughout 2020 by the current projects being constructed in the Circular Quay precinct and further development of Barangaroo," the valuation firm said. 
In late 2019 it was reported that a penthouse, two apartment amalgamation, had sold to an individual purchaser for $140 million. 
Benchmark sales such as this add to confidence in this sector of the market as the media broadcast such notable sales nationally and even internationally. This promotion attracts the attention of potential buyers in this top end prestige sector and the limited supply of such units can help spur continued strong sales. 
"We expect this to be the driver of high-end sales in the new development areas in inner Sydney throughout 2020," the valuation firm said. 
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"The eastern suburbs prestige market roared into gear in the second half of 2019 after a subdued first half of the year," the valuation firm continued. 
Over 20 trophy homes, with asking prices above $15 million, are currently listed for sale across the prestige suburbs of Point Piper, Vaucluse, Bellevue Hill, Darling Point and Elizabeth Bay.
 On top of this, there is an increasing number of prestige property owners who utilise the expertise and contacts of well-regarded local agents working within this space to sell their properties off market. 
"We are expecting the strong finish to last year to continue in 2020," the valuation firm stated. 
"In the south, the record of $10.86 million for the Sutherland and St George region, set by a property in Kangaroo Point in 2018, is under threat," the valuation firm said. 
A large three-storey waterfront home on over 3000 square metres of land at <a href="https://www.realestate.com.au/property-house-nsw-blakehurst-132201354" target="_blank">4 Townson Street, Blakehurst </a>(pictured below) boasts six bedrooms, eight bathrooms, a tennis court, indoor and outdoor pools, slipway, jetty and garaging for up to 15 cars.
<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/2020/2/10/blakehurst.jpg" alt="">
 The property was listed in October through Black Diamondz Property.
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Sydney prestige market to see high buyer confidence in 2020: HTW residential 

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Tasmania continues to lead the country in many property indicators, according to a recent Herron Todd White (HTW) residential report. 
The report notes that in comparison to some of the larger mainland markets, the premium price segment to some extent remains ‘affordable’.
The highest ever residential sale was in 2011 for in excess of $8 million.
To date the highest sale of 2019 has been for $3.7 million being a riverfront holding positioned between Wrest Point and the Royal Hobart Yacht Club at <a href="https://www.realestate.com.au/sold/property-house-tas-sandy+bay-130594658" target="_blank">358 Sandy Bay Road, Hobart</a>.
It comprises a dual level holding with five-bedrooms, three-bathrooms and a double carport. 
"As would be expected its fully secured with an electronic gate and features its own jetty," the valuation firm said. 
<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/2019/12/4/sandy%20bay.jpg" alt="">
The talk of the town however is the construction of a family residence at Tinderbox, just south of Blackmans Bay.
CoreLogic have reported a construction cost of $17 million on realestate.com. Records show the land was purchased for just over $3 million.
"Comprising a riverfront holding over dual levels with a floor area in excess of 1200 square metres of living. Anyone for a small hotel?" the valuation firm said. 
The HTW report notes up north in Launceston a sale was settled at the start of the year for $3.25 million.
This was located at <a href="https://www.realestate.com.au/sold/property-house-tas-launceston-129370374" target="_blank">1 Brisbane Street </a>(pictured below) virtually within the CBD and known as Glenfruin.
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Promoted as a historic Italianate style home it is positioned overlooking City Park on a 1482 square metre lot.
The house is built over three levels, and is a fully renovated 1880s home with four-to-five bedrooms.
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Tasmania's premium price segment remains 'affordable' compared to larger mainland markets: HTW residential 

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The latest Herron Todd White (HTW) residential report says there's been an upswing in buyer activity. 
There were 13,830 total listings as at mid-October 2019 - 15% lower than the same week in 2018 - with the majority of the activity is in the sub-$1 million range.
It noted while the market has been subdued overall, there have been some spectacular properties sold throughout the year across the state.
"To get some perspective on the magnitude of the properties we are about to discuss, the median house price in Perth is currently $485,000," the report said. 
Some extraordinary properties have traded in 2019 in Perth, HTW noted.
This 1,428 square metre riverfront estate at <a href="https://www.realestate.com.au/sold/property-house-wa-mosman+park-129708566https://www.realestate.com.au/sold/property-house-wa-mosman+park-129708566" target="_blank">1 Chidley Way </a>in Mosman Park (pictured below) is named Anuket, the original Egyptian goddess of the River Nile.
It went under contract in April 2019 for $12.05 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/1%20childley%20way.jpg" alt="">
In comparison, the median house price in Mosman Park settled at $1,277,000 for the June quarter 2019.
The property was on the market for 183 days, taking expressions of interest at around $16 million and was previously owned by the owner of a Perth-based commercial and residential development group with completed projects valued in excess of $1.5 billion.
Originally built in 1987, this limestone wonder has since had a number of restorations and alterations both internally and externally.
It features five bedrooms, six bathrooms, four living areas, a four car garage with extra parking spaces, grand entry lobby and an infinity lap pool overlooking the Swan River.
"Applecross is known as an affluent riverside suburb situated six kilometres from the CBD on the Swan River," the valuation firm said.
"The median house price in Applecross settled at $1.525 million for the June quarter 2019, the eighth highest suburb median in greater Perth."
This property at 22 Duncraig Road (pictured below) sold for $10.5 million in November 2018 after 151 days on the market.
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On a 1,839 square metre allotment, this gated estate is situated at the highest point of Duncraig Road, providing expansive views of the Swan River and Perth CBD.
Originally built in 1988 its features include a double staircase entry, formal quarter with large void up to the coffered ceilings, dining and wine room, four bedrooms, each with an en suite, a detached one-bedroom maid’s quarters, gourmet kitchen, large terrace, pool and spa, basement level four car garage and private media room
The property was previously purchased in 2001 for $6.5 million by a Perth couple who won $30 million in what was then the country’s biggest lotto jackpot.
The new purchasers are not new to the area as they also own a property at The Strand, Applecross which was bought in May 2017 for $6.9 million.
They also sold another property in November 2018 at Flanagan Road, Applecross for $3 million.
"Another notable sale this year was this Margaret Street property in Cottesloe," the valuation firm added. 
Built in 2011 on a 652 square metre allotment, it comprises five bedrooms, five bathrooms and a double garage.
It was purchased in June 2019 for $8.5 million by a West Australian billionaire.
"The new owner also owns multiple properties in Mosman Park, Peppermint Grove and Swanbourne with an estimated total spend of just under $30 million – not a bad portfolio!" the valuation firm said. 
The median house price in Cottesloe settled at $2.225 million for the June quarter 2019, the third highest suburb median in Western Australia.
This property at 167 Waratah Place, Dalkeith sold for $7.25 million in December 2018.
Originally built in 1985, this three-level Tuscan inspired residence has been substantially renovated since and comprises five bedrooms, four bathrooms, an infinity pool, wine cellar, and panoramic views of Freshwater Bay.
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Dalkeith’s median house price settled at $2,265,000 for the June quarter 2019, coming in as the second highest suburb median in Western Australia.
"The Elizabeth Quay Towers has been one of Perth’s most talked about development projects over the past few years," the valuation firm said. 
Situated along Geoffrey Bolton Avenue and Barrack Square at Elizabeth Quay, the first completed tower encompasses 105 apartments over 28 floors with views of Perth City, Kings Park, Langley Park and the Swan River.
Prices range from about $650,000 all the way up to $12.5 million for the penthouse suite.
Some of the amenities include multiple pools, private lounges and a gym.
The neighbouring tower also includes the Ritz-Carlton Hotel with over 200 rooms due for completion in November 2019.
The complex features operable walls whereby a panel in the external wall is able to be opened as a tilt panel window – a unique feature for apartments in Perth.
The most recent sale in the Towers was actually one of its better apartments on offer.
On floor 26, the 289 square metre suite is currently under contract for $4,046,000 and has expansive views reaching around 240 degrees.
"One notable sale our valuers recall was back in May 2017 and it remains a topic of discussion!" the valuation firm said. 
A 1920s renovated character dwelling in Wembley sold for $2.5 million comprising four bedrooms, three bathrooms, a three-car garage, self- contained studio and the most interesting feature – an underground half-size basketball court! Not something that our valuers come across every day.
"If you happen to be in the market for a multi- million-dollar property, then do not fret, there is still a plethora of prestige stock ready for a willing buyer."
A Dalkeith vacant allotment of 1,600 square metres is on offer by Mack Hall Real Estate for a cool $9 million or $5,625 per square metre and backs directly onto the Swan River.
A Cottesloe home was originally built in 1893 and has recently been extensively restored by the renowned Zorzi Homes.
According to the realestate.com.au listing, this three-storey Federation Queen Anne style property comprises five bedrooms, five bathrooms, lift access, custom-made cornices, architraves, mouldings and skirtings, a restored original fireplace, full home automation and security system, manicured front garden, bar room, games room, alfresco entertaining area, ten car below ground garage and a wine cellar.
<img src="blob:https://www.urban.com.au/965d4fb2-1e51-459b-aeb2-874faee0780b" alt="page38image5816672" width="0.500000" height="0.500000">On offer by The Agency, this property is currently taking offers of interest and has been on the market for 237 days.
It was last purchased in 2009 (before its restoration) for $4.25 million.
Brown Street, East Perth is a mammoth penthouse apartment.
The listing currently displays price upon application, however there was a previous price guide listing back in September 2018 for a whopping $20 million.
It had been on the market for 544 days when this article was being written.
Built in 2014, the two-storey penthouse comprises eight bedrooms, eight bathrooms, three kitchens, maid’s quarters, lap pool, Bali inspired alfresco, steam room, outdoor spa bath, gym, home office with a fireplace, wine cellar, private lift access, secure eight car accommodation and cinema room. The terrace has views of the city, Claisebrook Cove, Optus Stadium and Crown Casino.
With a living area of 898 square metres, balcony and terrace of 774 square metres, storeroom of five square metres and car accommodation equalling 220 square metres, the floor area comes to a total of 1,897 square metres!
"We thought we would save one of our favourite listings for last. This waterfront property is situated at the end of Watkins Road in Dalkeith and has quite an interesting history, but before we get into the history let’s go over the luxurious features," the valuation firm said. 
Spanning over six separate titles and situated on a 6,406 square metre allotment, this dwelling at <a href="https://www.realestate.com.au/property-house-wa-dalkeith-132131590" target="_blank">89 Watkins Road</a> (pictured below) has 2,930 square metres of internal living space over four levels.
Features include six bedrooms, eight bathrooms, a 21-seat cinema, function room for 400 plus guests, two caterers’ kitchens, walk-in cool room, separate pizza, teppanyaki and bbq house, commercial bar and games room, full sized gym with pummel massage shower room and sauna, full size squash court, floodlit tennis court, 230 square metre swimming pool with a 12-seat swim-up bar, 10,000 bottle cellar and tasting room, designer gardens, boat storage and private boat launch with private boat mooring available and underground parking for 12 cars.
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The property has been on the market for 541 days.
"As you would imagine, the pool of potential buyers is somewhat limited," the valuation firm added. 
According to an article by Domain.com.au, the property was designed by Perth architect Geoffrey Summerhayes in 1978 and originally built for the late Alan Bond in time for the 1983 America’s Cup. 
CoreLogic’s property data suite, RP Data, shows that a gold mining magnate purchased the property in 1995 from the Bond family trust company for $7.3 million. He then sold it four years later after extensive renovations. The property was then sold in 2011 with a price tag of $39 million and is again available for purchase.
"To wrap up, there have been some impressive transactions over the past couple of years and as the recovery phase gathers pace, we would expect to see many more such transactions," HTW said. 
"There is a feeling of pent up demand in the market place as the majority of potential buyers have been sitting on their hands for the past few years.
"Our valuers are reporting surges of activity in sought after localities at most value bands, however these surges are often short lived and fail to maintain traction.
"Further improvement in consumer sentiment could lead to the traction the market has been expecting for some time." 
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Upswing in Perth prestige market activity: HTW residential 

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The wandering eye for grandeur and a prestige address in the greater Darwin area leads in one of two directions – water views or acreage, according to a recent Herron Todd White (HTW) residential report. 
The report suggests long held premium locations of Larrakeyah, Cullen Bay, Fannie Bay and Bayview remain the sought-after water locations with ocean or marina views.
Coming into more prominence are tightly held pockets of Nightcliff that offer Casuarina foreshore views and sections of Stuart Park that overlook Frances Bay and the CBD.
"Knuckey Lagoon still presents as the premium rural residential location of the Darwin market," the valuation firm said. 
"Nearby access to all urban infrastructures balanced with space and country feel are the drivers in this location."
There have been 19 residential sales at arm’s length above $1 million in the 2019 calendar year (to mid-October) for the Darwin, Palmerston and rural residential areas, including a mix of dwelling and strata sales, so a fraction under two per month.
The report notes the market for prestige dwellings in Darwin’s inner suburbs has softened over recent times.
This market has been less volatile than mortgage belt locations and continues to be underpinned by proximity to the CBD and standard of dwelling.
Large allotments and tropical style dwellings have remained popular for purchasers. Without question the ability for owners to hold property in poorer market times has helped these market sections.
"We must highlight that this segment of the market has not been quarantined from the reductions in the wider market; re-sales of the same dwelling have shown reductions in the order of 10 to 15%," the valuation firm said. 
The Darwin prestige market beyond $2 million has been very thinly traded in recent years.
The most activity in the market has been for new builds, where older dwellings have been purchased and demolished.
Notable locations for these projects have included East Point Road in Fannie Bay, Larrakeyah Terrace in Larrakeyah and to the marina in Cullen Bay.
Many of these projects have exceeded land and build of $5 million.
"These projects, while not sale transactions, provide open market evidence to the activity in this market segment and we specifically note this is not uncommon within the local market place which is dominated by owner-occupiers in a very tightly held market segment," the valuation firm said. 
The highest residential sale in the rural residential market this year was achieved in Knuckey Lagoon, an acreage allotment with a number of dwellings and sheds that exceeded $4 million.
The highest strata sale in the Darwin area was for one of the colonial style, stone townhouses at <a href="https://www.realestate.com.au/sold/property-villa-nt-darwin+city-130487262" target="_blank">1/78 Esplanade </a>(pictured below) in the CBD.
<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/2019/12/2/78%20esplanade.jpg" alt="">
The sale was negotiated by Seth Chin of Chin &amp; Associates at $2.3 million in April following an open marketing campaign.
Chin said: "The market in Cullen Bay has been active with enquiry levels remaining consistent from local owner-occupiers. With a number of our key listings ranging from $2 million to $3 million we have seen a significant amount of inspections, however given the price point and current broader market conditions these properties require extended marketing periods."
The HTW report also looked at other eye-catching properties on the market. 
"For those looking at inner city living, there are penthouse units available at Evolution, arguably one of Darwin’s best CBD addresses, with extensive common areas and views that capture the whole CBD. Asking prices are $3.5 million with David Booth Real Estate," the valuation firm said. 
Other attractive listings are located on the Marina and Sea Wall at Cullen Bay, including<a href="https://www.realestate.com.au/property-house-nt-cullen+bay-131914310" target="_blank"> 104 Cullen Bay Crescent</a> (pictured below) with Pacific Property seeking offers over $2.95 million, offering uninterrupted sea views and a large, five-bedroom, three-bathroom dwelling.
<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/2019/12/2/104%20cullen%20bay.jpg" alt="">
"It’s certainly not all doom and gloom in the Darwin market. High quality property is still changing hands and premium builders and architects have projects on the drawing board as we see the shape of the prestige market move to modern homes mixed with the essential tropical touch of our neighbourhood," the valuation firm concluded. 
"Without doubt, there will be more to talk about in 2020 as the Darwin market continues to recover and transition to the next stage of the cycle."
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Water views or acreage - the two directions of Darwin's prestige market: HTW residential 

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Townsville’s top end eye candy property is a relatively shallow market with the majority of prestige stock falling within the $1 million to $2.5 million price range, according to the latest Herron Todd White (HTW) residential report. 
The report notes these swoon-inducing properties typically offer elevated aspects and ocean views with well above average levels of accommodation and fit out.
Improvements include features such as pools, architectural design and good outdoor living areas, along with extensive main living areas.
"To date in 2019 the highest settled residential sale recorded was for a property located on Castle Hill, which transacted for just over $1.5 million," the valuation firm said. 
The architecturally designed property at<a href="https://www.realestate.com.au/sold/property-house-qld-castle+hill-130817450" target="_blank"> 37 Yarrawonga Drive</a> (pictured below) offers sweeping views over Cleveland Bay and comprises five bedrooms, three bathrooms and an inground pool.
<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/2019/11/27/castle%20hill%202.jpg" alt="">
There are currently a number of properties listed on the market with asking prices over $1.5 million within the North Ward and Castle Hill areas along with some located on Magnetic Island, the report noted. 
"An exceptionally large architecturally designed house in Annandale comprising six bedrooms and five bathrooms with views over the Ross River is currently on the market with an asking price of $2.4 million negotiable," the valuation firm said. 
The property at <a href="https://www.realestate.com.au/property-house-qld-annandale-131869598" target="_blank">3 Fairlight Crescent</a> (pictured below) is built over three levels with a reported total floor area of over 900 square metre including four-car accommodation, pool, theatre, lift, C-bus electrical system and self- contained living to the lower level.
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Townsville sees shallow top end property market: HTW residential 

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The residential market in the Gladstone region has stabilised over recent years after a very volatile patch, according to the latest Herron Todd White (HTW) residential report. 
The HTW report notes since the beginning of the year there has been limited sales activity of homes on standard residential lots over the $600,000 price point and unit sale prices top out at just over $200,000.
The city of Gladstone is the largest multi- commodity shipping port in Queensland so as a consequence most eye-candy property in the region takes advantage of water views.
"Tannum Sands and Boyne Island are two localities situated on the coast to the south of central Gladstone and seem to have the majority of 2019 residential home sales at the upper end of the market.
"One property worthy of note in this location is<a href="https://www.realestate.com.au/sold/property-house-qld-tannum+sands-128720926" target="_blank"> 5 Di Street, Tannum Sands </a>(pictured below) which has frontage to the Boyne River and sold in July 2019 for $750,000," the valuation firm said. 
The property offers uninterrupted river views from a two storey, four-bedroom, three- bathroom modern home with an inground pool.
<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/2019/11/25/5%20di%20st%202.jpg" alt="">
"When considering eye-candy residential property in Gladstone, it is difficult to go past 2 Parksville Drive, New Auckland," the valuation firm said. 
This modern resort style home won the CQ Master Builders Housing and Construction Awards 2013 for best individual home and swimming pool, outdoor living and landscaping prizes.
Owned by a local builder, the property sold for $1.04 million in May 2019.
Located on a 2,806 square metre block, the architecturally designed home offers four bedrooms, three bathrooms, state of the art kitchen, butler’s pantry, sound proof media room, relaxing urban views over the L-shaped pool and a 165 square metre shed with kitchen, bathroom and mezzanine floor.
The report notes 2019 prestigious unit sales only include a luxurious penthouse apartment in the Aspex complex which sold in April 2019 for $810,000. This is a significant reduction from the previous sale in 2011 at $1.4 million.
The modern apartment offers 302 square metres with four bedrooms, three bathrooms and a sky terrace with views of Auckland Creek Inlet and the Gladstone Marina.
The top end price listing has to be 6 Cormorant Close, South Gladstone (pictured below) with a list price of offers over $1.4 million.
The property has been on the market since May 2019 and is significantly discounted from its previous sale price in 2015 of $1.84 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/25/6%20cormorant%20close.jpg" alt="">
Having a land area of 1,151 square metres, this architecturally designed home offers six bedrooms and three bathrooms over six different levels and three outside entertaining areas.
An L-shaped pool including 12.5 metre lap pool and waterfall blade is also a feature.
Boasting ocean and bush views the home also offers a custom designed art room with 100-year-old recycled timber flooring, gymnasium, wine cellar and mud room.
Internal size is advertised as 672 square metres.
"You had me at wine cellar!" the valuation firm commented. 
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