Domain Prestige - June 22, 2022

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PRESTIGE THE BEST IN AUSTRALIAN PROPERTY

STRIKING GOLD Shining suburbs of Ta smania

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Starting from $2,595,000 Drift devotes an entire level to resident well-being and recreation with exclusive access to a heated pool and magnesium spas, a cold therapy pool, infrared sauna and steam room. Residents also benefit from a fully-equipped gymnasium, yoga centre and massage rooms. An outdoor BBQ area and lounge with fireplace are ideal for entertaining friends and family.

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Visit the Drift Display Suite 18 Tedder Avenue, Main Beach | Monday to Sunday, 10am-4pm SCAN FOR LISTING

FOR MORE INFORMATION

Corey Gilmore — 0416 217 774 Duncan McInnes — 0418 761 822

B y K ATE FARRE LLY

West Hobart Hobart 328 Liverpool Street $2.45 million + J OSE PHIN E H U YN H

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Expressions of interest Agent: Peterswald for Property, Ed McKay 0423 741 767 Australia’s island state had always been a destination I wanted to tick off

Set within a historic precinct, this 1880s Victorian

the bucket list, but the call of European summers was always so undeniable

home has been beautifully maintained, retaining

that I took for granted what was waiting to be explored at our feet. The

high, ornate ceilings, fireplaces, Tasmanian oak

pandemic made me truly appreciate the land we’re lucky to call home.

flooring and a widow’s watch tower. There’s an

Earlier this year I finally made the trip to Tasmania and I remember one

eat-in timber kitchen, formal lounge and dining

moment so vividly – standing in the middle of Freycinet National Park,

rooms and a fully fenced garden with fruit and

overlooking the blue waters of Great Oyster Bay, the Hazards mountain

nut trees and space for dining al fresco.

range as the backdrop. It’s where time stands still and your cares wash away with the soft sound of crashing waves. I’m counting down the days until my return, but for now have settled for reliving it through this special Tassie edition. We bring you the best homes on the market on the Apple Isle and hope its lifestyle wins you over as much as it did me.

O U R COVE R 4 Commonwealth Lane, Campbell Town Listed by Circa Heritage and Lifestyle Property Specialists PAG E 6

Editor: Josephine Huynh josephine.huynh@ domain.com.au Editorial producer: Paige Tonna Group picture editor: Kylie Thomson Senior designer: Colleen Chin Quan Graphic designer: Nicole Gauci National magazine editor: Natalie Mortimer National managing editor: Alice Stolz Chief marketing officer: Rebecca Darley Chief executive officer: Jason Pellegrino Residential sales: Queensland Amanda Vaughan 0413 370 004 New South Wales Caitlin Hao 0430 938 214 Victoria & Tasmania Ray van Veenendaal 0438 279 870 Western Australia, South Australia & Northern Territory Jeroen van de Peppel 0427 292 797 Digital edition Visit domain.com.au/ digitaledition

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HOT PROPERTY

GETTY IMAGES

FEATURE STORY Prices soaring down south

LIVING IN Village charm with first-class perks

THE PROPERTY INVESTOR Is the price still right?

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Deloraine Meander Valley 39 West Barrack Street $1.15 million

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Private sale Agent: Key2 Property, Kate Woods 0404 710 296 The gardens are a highlight of this heritage-listed home, putting on a show for each of the four seasons. Within walking distance of town amenities, the house has been renovated throughout and offers bespoke timber cabinetry, a Bosch-appointed kitchen, double-glazing and zoned air-conditioning.

Newstead

West Hobart

Launceston 14 Ivy Lane

Hobart 22 Fielding Drive

$2.245 million

$1.29 million +

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Private sale

Private sale

Agent: Insitu Property, Kristi Seymour 0409 330 696

Agent: Petrusma Property Sandy Bay,

Enjoy single-level living at this five-year-old home set on a 2528-square-

Sam Towns 0405 107 542

metre block a five-minute drive from Launceston town centre and just 15

Capturing panoramic views over the Derwent,

minutes from the airport. The open-plan living spaces extend to a north-

this two-storey home boasts cathedral ceilings,

west-facing deck and a generous lawn with a sunken, landscaped fire pit.

a timber kitchen and a self-contained studio.

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FEATURE STORY

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asmania: unassuming one minute, simply astonishing the next. While the state is legendary as a serene haven of beautiful beaches, pristine nature and the freshest air, they say, on the planet, it’s also home to some of Australia’s most outstanding real estate.

How about a historic Georgian estate that later became the breeding ground for Melbourne Cup winners? Or a Victorian grange planned by our most-admired convict architect?

Then again, check out some of the new avantgarde homes around the island, some with cutting-edge engineering and futuristic design.

“We are very fortunate with the type of property we have,” says Real Estate Institute of Tasmania president Michael Walsh. “We have some of the best heritage houses in Australia and we’ve treasured and protected them over the years.

“Then we also have some remarkable new homes and have had sales over the years of a pretty substantial magnitude. But while we’ve had a lot of price growth over the past couple of years, they’ve come off a pretty low base and

Tasmania, the isle of dreams Property on this stunning island has posted stellar price growth, but is still affordable for mainland buyers.

B y SU E WILLIAMS

still offer value for money, particularly when compared to the eastern states.”

Hobart, for example, has experienced some stellar price growth, with its median house price rising 25.5 per cent in the past year to March 2022 alone – its seventh consecutive quarter of growth – to a record-breaking median of $758,141. The slowing rate of growth suggests, however, that Hobart has passed the peak of late 2021.

Domain chief of research & economics Dr Nicola Powell says house prices have risen 46

per cent since the pandemic began in March 2020 – the highest rate of growth recorded across the capital cities.

“The Hobart unit market has also had the second-best performance, at 31 per cent, behind Darwin,” she adds.

The well-heeled are still buying in Tasmania, however, particularly those from Sydney and Melbourne, and mostly in coastal, lifestyle, inner-city or rural areas close to the main cities.

The top three highest-growth suburbs are now Prospect Vale in the Launceston LGA, where

The Grange, Campbell Town, above; Calstock Estate, Deloraine, above centre; 20 Upper Hilton Road, Claremont, above right and below right.

house prices have risen 53.3 per cent to a median of $575,000, Dodges Ferry in the Sorrell LGA on the south-east coast, where the median has increased 46.3 per cent to $655,000, and West Launceston, with a 38.3 per cent lift to $657,500.

“The mainland influence is still being felt in our market, with sales from there running at about 18 per cent,” Walsh says. “They do tend to favour inner-city suburbs like Sandy Bay and Battery Point in Hobart, Acton in Burnie, and Newstead and East Launceston in Launceston.

“They’re also finding large areas down the Tamar Valley very attractive with all their wineries and yachting and lifestyle facilities.

They seem to hold lots of appeal.”

Less than an hour from central Launceston, for instance, one of the state’s most hallowed properties has just come onto the market – the Calstock Estate, dating back to 1831 and close to the town of Deloraine. At various times a home, a horse racing stables – where Melbourne Cup winners Malua and Sheet Anchor were bred – accommodation and now a home again, it’s a stunning 12-bedroom property.

“For its relatively small population, Tasmania is very lucky with the number of homesteads we have,” says Knight Frank Launceston agent Sam Woolcock. “This one was in the same family for 104 years and the current owners have carried out significant enhancements.”

In Campbell Town, another extraordinary home is for sale – a seven-bedroom, c1847 Gothic former National Trust home designed by convict architect James Blackburn.

“I’d say 95 per cent of the interest in such historic houses comes from the mainland,” says agent Dominic Romeo of Circa Heritage and Lifestyle Property Specialists. “We see strong demand for them, from Sydney especially as they have similar-era architecture.

“We find a lot of people from the mainland are looking for a lifestyle change and Tasmania is so well known for its beautiful environment, fascinating history and great food, wine and gin culture. It was happening even before COVID, and although it was very strong throughout, it still continues now.”

There are also many more modern homes on the market. Claremont, on the northern fringes of Hobart, for example, has a new, ultramodern, three-bedroom house elevated on stilts to make the most of the water views.

“It’s the most stunning listing I’ve had in the past nine years,” says 4one4 Property Co. agent Suzanne Wiltshire. “While it’s a very high price for this area – and will set a record – others will find it very affordable. It’s an absolute architectural masterpiece.”

Apart from choosing exceptional homes, most of the more affluent buyers will tend to choose the suburbs of Hobart that offer both substantial homes and views of water or, as second-best, of kunanyi/Mount Wellington.

At the top of the wish list are Battery Point, with Hobart’s highest house price median at $1.85 million, Sandy Bay at $1.4 million, Rose Bay at $1.3 million, Taroona at $1.21 million and West Hobart at $1.175 million.

“Most of the mainland buyers are looking at that inner-city ring where they can find character houses and views,” says buyers agent Angie Roberts of My Hobart Home.

“While we’ve had substantial price growth in the past three to four years, by comparison they’re still very affordable and you can upgrade to a sizeable family house or a large apartment with impressive views and [which is] accessible to the city, of the type most wouldn’t be able to afford in Sydney or Melbourne.”

Campbell Town Northern Midlands The Grange, 4 Commonwealth Lane $2 million +

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Private sale Agent: Circa Heritage and Lifestyle Property Specialists, Dominic Romeo 0438 500 277 One of Tasmania’s most romantic estates, this rustic 19th-century Gothic home is the work of renowned convict architect James Blackburn.

Deloraine Meander Valley Calstock Estate, 14746 Highlands Lake Road Circa $10 million

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Expressions of Interest Agent: Knight Frank Launceston, Sam Woolcock 0400 813 033 The elegance of period design defines the interior spaces of this home. Across the gardens you’ll find two self-contained apartments.

Claremont Glenorchy 20 Upper Hilton Road $1.3 million +

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Private sale Agent: 4one4 Property Co. Suzanne Wiltshire 03 6273 7414 This dark and moody home sports a striking “floating” design and is proudly elevated on almost 400 square metres of land.

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FINALIST

WINNER

(Urban Land Institute 2022 Asia Pacific Awards)

(The Common - West Village) HIA, 2021

MIXED USE PRECINCT

OUTDOOR PROJECT

WINNER

APARTMENT COMPLEX

(Arcadia North - West Village) HIA, 2020

FINAL PENTHOUSE RELEASE

Indicative render only and an artist’s impression. These images have been produced for the purpose of communicating a design intent in a concept presentation. They are an artistic representation, do not represent the final approved or documented design and detailing, or construction methodology, is subject to change without notice and may vary from the property as built. Intending buyers should refer to the terms of the contract of sale for the property.

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LAUNCESTON GETTY IMAGES

Northern Tassie’s Launceston is a magnet for foodies, outdoor types and lovers of Georgian houses. B y PAU LIN E M O RRIS SE Y

YOU MAY LIKE ...

Launceston

While Launceston is Tasmania’s second-largest

continually remain a big selling factor for many

city, it appears more like a big village with plenty

people,” Harrison says. “This, along with the city’s

Launceston 165 George Street

of charm, where winding rivers meet, majestic

natural beauty, convenience and quality schools,

$2.199 million +

mountains loom, and heritage streetscapes add

has contributed to Launceston topping the

a sense of delight.

charts nationally regarding capital growth from

One of Australia’s oldest cities, it has talented and passionate residents who breathe fresh and vibrant energy into its close-knit community. This

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November 2020-21, with houses experiencing a median price increase of 39 per cent.”

has resulted in a first-class food and wine scene

Life in Launceston

that has rightly garnered much praise, including

The city also has a slew of fabulous retail, like

being named a UNESCO City of Gastronomy.

Ecoco, founded and owned by Diane Loone.

Old world meets new

offering a carefully curated range of homewares,

Harrison Agents Launceston director Tom

furniture, and many other treasures, focusing on

Harrison says this riverside city has always

sustainability and quality workmanship,” Loone

punched above its weight regarding food and

says. “My ideal day off would involve a Saturday

wine, with favourites like Stillwater, the Black Cow

morning visit to the Harvest Market, stopping for

Bistro and Novaro’s Italian Restaurant.

coffee and breakfast at Cafe Mondello, and an

Private sale

afternoon drive to nearby Tamar Valley, winding

Agent: Living Here Launceston,

through vineyards to sample local produce.”

Thomas Baird 0400 247 272

“Although a lot of the attention has been on Hobart over the past few years, Launceston is now capturing its fair share of interest, with

“Our store mimics Launceston’s enduring style,

The unique natural formation of Cataract Gorge

Reimagined by interior designer Geoffrey Brown,

buyers from all corners of the globe inquiring

Reserve sits just a five-minute drive or a

this Victorian residence is one of Launceston’s

about our properties,” Harrison says. “More

15-minute walk from the city centre.

best trophy homes. Its rooms include dining,

people are starting to recognise and appreciate

“This is our own piece of wilderness, with

the natural attractions Launcestonians enjoy.”

walking tracks, a public swimming pool, a scenic

He says the town’s Georgian architecture is

chairlift ride, plus a historic suspension bridge,”

living, family, kitchen, breakfast and a library.

often high on interstate buyers’ bucket lists, with

Loone says. “It’s a special place, especially when

Kings Bridge crosses the

many wanting their own slice of its rich history.

water gushes through the gorge or when it forms

South Esk River at the

Hover your camera over the

the backdrop for a spectacular lighting show

mouth of Cataract

code to see Domain listings

during MONA’s summer festival, MONA FOMA.”

Gorge in Launceston.

in Launceston

“These stunning period properties are often the first thing recognised by newcomers and

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A S I N G ULAR VI S I O N

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THE PROPERTY INVESTOR

ISTOCK

When will Tassie’s ‘purple patch’ end?

Our most southerly state has been the apple of the investor’s eye recently, but there are signs a slowdown is looming.

B y SU E WILLIAMS

E

Tasmania remains the picture of an idyllic and healthy lifestyle, but the outlook for property price growth may be a little less rosy.

ight years ago, Hobart offered the cheapest rents of all Australian capital cities. Today, the Tasmanian capital has the fourth most expensive.

That makes it an enticing city for investors looking to buy houses or units, but it also comes with a caveat: don’t buy the kind of expensive property the locals can’t afford to rent.

Agent Nick Bond of Harcourts Huon Valley warns there’s a rental sweet spot from $300 to $400 a week.

“If the rent is more than that, or is too much over, say, $500, then a tenant might as well buy [a property] themselves for the same weekly payment,” he says. “We don’t have a lot of people on higher incomes. We have a lot on the minimum wage or on government benefits who can’t afford to pay too much.”

Many of those are hurting after house rents rose by a steep 8.3 per cent over the past year to a record high of $520 a week, and units increased by 7.1 per cent to another recordshattering $450, according to the latest Domain Rent Report.

The vacancy rate is now an extremely tight 0.4 per cent, although it’s up from its recent rock bottom of 0.3 per cent, meaning there’s also a stark undersupply of accommodation.

And there’s not much relief in sight, Bond believes.

“We’ve had a huge uptake postCOVID of people investing here.”

“There aren’t many large subdivisions being rolled out at as fast a rate as is needed,” he says.

“With building costs going up so much, too, there are not so many new builds either, and some builders are going broke.”

But with the peak of house price growth now having passed, buyers appear to be mostly

interested in Hobart property that they can rent out for the next few years while they prepare to relocate and work from home or retire to the Apple Isle.

“We’ve had a huge uptake post-COVID of people investing here, before planning to live here and work remotely,” says Barry Wheeler of PRD Hobart. “I think Tasmania has been pushing the cost-of-living benefits of retiring here, too.

“You can buy a good property for under $500,000 in some places and, in some suburbs, you can still get a 4.5 per cent gross return on a rental investment, which is amazing.”

While Wheeler believes Tasmanian property prices show a historic tendency to flatline after a boom – as other states’ prices decline – the prospect of little capital growth in the future doesn’t worry those investors too much.

“I find it difficult to predict that prices will go up much more into the future,” says Empower Wealth buyer’s agent Bryce Holdaway.

“Prices in Tasmania have had a good run and I think that was probably a real purple patch. So, investors won’t be chasing much capital growth there now.

“But certainly lifestyle is still an attraction.

COVID made it possible for people to move and work from home in ways they weren’t able to before. So, people may well be interested in investing in areas they would like to live themselves one day, and certainly, even bluechip areas of Hobart are still very affordable.”

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APARTMENT 6501

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Private Beachfront, Northern Queensland Internationally celebrated architect, Andy Hall, designed Astoria House with a brief to create a luxurious resortstyle beachfront residence. The knockout views of Double Island and across the Great Barrier Reef are unrivalled.

Astoria House is discretely nestled on the same beach as Palm Cove with its bounty of cafes, restaurants, and shops – accessible by bicycle or walking along the beachfront leisure trail. Constructed with sustainability and modern technology in mind, Astoria House is a one-off architectural masterpiece.

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‘Astoria House’, 50 Kewarra Street Kewarra Beach, North Queensland For Sale $6.8M View Inspection by Appointment Barbara Wolveridge +61 418 760 004

NOTHING COMPARES. queenslandsothebysrealty.com

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Penthouse B27-1/75 Brighton Parade, Southport Scan for Listing

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Contact Agent 4

Contact for a Private Viewing Duncan Longmore 0419 611 792 Claire Dai 0432 318 746

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865m2*

The ultimate penthouse entertainer beckons in Rivage Royale with this luxury tri-level sky home.

Occupying the 27th, 28th and 29th levels and boasting a supersized 865m2* floorplan, step inside and bask in panoramic views of the Broadwater, Hinterland, Marina Mirage, Main River, and the sweeping Surfers Paradise skyline. Effortlessly elegant interiors with quality finishes, cook up a feast in a kitchen fit for a MasterChef and grab a bottle from the glass faced wine cellar, preparing a drink from the sleek and stylish wet bar. There’s also 4 king sized bedrooms with ensuites plus a 3rd floor where, from sunrise to sunset, you’ll witness mother nature at her finest.

Fitted with a kitchenette, sauna, and sprawling rooftop terrace with pool, BBQ and a weather sensor vergola, it’s an unrivalled option for entertaining or relaxation against the backdrop of the city and coastal skyline. The owner will consider all offers and terms. *approximate

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21,000 Macadamia Tree Commercial Farm

*Indicative Only

Scan for Listing

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13 Edward Place, Knockrow, NSW Contact Agent Main Residence

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Farm House

3

150 acres*

Contact for a Private Viewing Rob Lamb 0405 608 601 Michael Kollosche 04111 888 15

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170 acres*

Sweeping coastal vistas. Sustainable living. Serenity and seclusion. This idyllic 320-acre* Northern Rivers Hinterland estate offers it all. Peaceful and private, it’s where you can indulge in the organic and artisan delights of nearby Newrybar or Bangalow. Grab your board and within 10 minutes surf some of the best East Coast breaks of Lennox Head and Broken Head or in 20 minutes soak up Byron Bay’s famous surfing spots Wategos, The Pass and Tallows. Just 15 minutes from the airport, ‘Ballyshaw Farm’ is a thriving 21,000 macadamia tree commercial farm offering a main residence with a distinctively relaxed feel, as well as a 4 bedroom home - a perfect base to run the farm business.

All the restored timber and artefacts are hand-picked to evoke a sense of ‘Australiana’ that make the home feel like it’s been a part of the land for decades. *approximate Nicholas James Dunn (Stock and Station Licence No. 1481104) (McGrath) in conjunction with Kollosche Pty Ltd ATF Kollosche Trust (Kollosche).

ULTIMATE LIFESTYLE WITH 360 DEGREE VIEWS IN THE HEART OF ICONIC BURLEIGH HEADS - WORLD HERITAGE SURF COAST! T H E

U L T I M A T E

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L U X U R Y

L I F E S T Y L E

AUCTION 2ND JULY, ON-SITE 1:00PM

24 VANTAGE POINT DRIVE, BURLEIGH HEADS 4

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Contact the Listing Agents

571m²*

Presiding upon a prominent hilltop position, and on one of the highest points in Burleigh, this private and peaceful paradise is your ticket to tranquillity. Wrapped in exquisite 360 degree coastal views stretching from Surfers Paradise to Coolangatta that also take in Tallebudgera Creek and valleys of lush greenery, this sprawling tri-level home on a 571m2 block promises unforgettable living and entertaining. Enriched with Hamptons style interiors, marble bathrooms, high ceilings and galleries of glass to frame idyllic views, it’s also a one-of-kind, with a unique pool that flows indoors to outdoors, guaranteeing all-weather fun. The perfect complement to this is the supersized MasterChef-worthy kitchen, indoor-outdoor BBQ area, alfresco terrace and supersized balconies that also soak up the stunning views.

Amir Mian 0401 470 499 amir@amirprestige.com.au Emma Gregory 0421 342 670 emma@amirprestige.com.au

amirprestige.com.au

WHERE THE LAND MEETS THE CLOUDS

AN ELEGANT AND MAJESTIC RURAL ESTATE WITH EXQUISITE HINTERLAND VIEWS

Trismegistus

ANYTIME BY APPOINTMENT ONLY

88 - 90 MOLLYS GRASS ROAD, TREGEAGLE 14

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8+15

Contact the Listing Agents

57 Acres

This majestically beautiful and quiet rural property is an absolute one of a kind. Spanning 57 acres, three homes, a care-takers cottage, horse stables and arena, two large storage sheds and your own private waterfall and freshwater swimming spot, there is infinite potential for this property. Ideally located only an hour’s drive from the Gold Coast and 30 minutes from Ballina Airport, this private oasis is also interconnected when it needs to be, with national and international travel at your fingertips. Named for its thrice providential standing and sharing the same approbation with the Egyptian and Greek God Hermes Trismegistus, looking out over the stunning rolling landscape leaves no doubt that you are in the land of the Gods.

Amir Mian 0401 470 499 amir@amirprestige.com.au Rochelle Lamers 0407 460 522 rochelle@amirprestige.com.au

amirprestige.com.au

THE ULTIMATE LIFESTYLE -RESIDENCE + COMMERCIAL PRECINCT

Hercules Byron ANYTIME BY APPOINTMENT ONLY AUCTION 9TH JULY, ON-SITE 11:00AM

59 COOPERS SHOOT ROAD, COOPERS SHOOT 11

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Contact the Listing Agents

5.60HA

Hovering 110m above sea level and showcasing Byron Bay’s most exquisite views, “Hercules” is the pinnacle of property perfection. Presiding over a 13.88 east-facing acreage and occupying the largest parcel of flat land along the tightly-held Byron escarpment, there’s simply no comparison to the lifestyle, luxury and tranquillity this world-class estate offers. Draped against endless Pacific Ocean, Broken Head and Cape Byron lighthouse panoramas, it boasts two magnificent residential dwellings, a self-contained studio and three state-of-the-art commercial premises (for training, health and film recording pursuits), making this a cuttingedge, contemporary compound for business and pleasure that cannot be replicated.

Amir Mian 0401 470 499 amir@amirprestige.com.au Isaac & Maria Genc 0416 222 262 | 0416 222 282 gencteam@amirprestige.com.au

amirprestige.com.au

2 61 S TA N L E Y S T R E E T

North Adelaide

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b

4 c 825 f m2

Located in the Dress Circle of North Adelaide, circa 1873 distinction, a rare 825m2 landholding, and a once in a lifetime slice of Stanley Street embracing city and hills views much like Colonel Light's original vision.

Contact Agent Best Offers By 12pm Wednesday 29 June Karen Lombe 0408 886 664 Anne Einarson 0418 812 108

RL A RLA 226409

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