Domain Prestige - March 13, 2024

Inside this week’s edition, you’ll find homes with characters as richly varied as a best actress line-up for the Oscars: the striking colour and modernity of our cover property in Melbourne’s Hawthorn; a beautiful seaside escape in North East Tasmania to the right; and more. But the winner would have to be our Dream Home: the dazzling Paloma Estate on more than 38 hectares in the NSW Southern Highlands. Word has travelled fast since it splashed on the market and It’s being applauded as one of the area’s most extraordinary residences. So, who’s the seller, you ask. Former Crown chairman and chief executive John Alexander, whose library is lined floor-to-ceiling with collectables and books. All eyes are on the listing to see if there’s a buyer out there willing to say “done deal” to its $40 million price guide, which would smash all previous sale records in the region.

Editor:

Editorial producer: Hailey Coules

Group picture editor: Kylie Thomson

Senior designer: Colleen Chin Quan

Graphic designer: Emma Drake

National magazine editor:

Group content director:

Chief

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By KATE FARRELLY

Chain of Lagoons

North East Tasmania 21036 Tasman Highway

$4 million-$5 million

Expressions of interest

Agent: Harrison Agents Launceston, Tom Harrison 0405 195 431

Boasting 3.4 hectares of seafront land and direct access onto Little Beach, Santosha is the ultimate north-east-coast getaway. There’s a contemporary four-bedroom residence with incredible views from the wraparound deck, and a further two bedrooms attached to a 76-square-metre, purpose-built yoga studio.

Hawthorn

Melbourne 36 Kooyongkoot Road

$12 million-$13 million

Expressions of interest: Close 5pm, March 18

Agent: Marshall White Boroondara, James Tostevin 0417 003 333

With a large pool and spa, tennis court, trampoline, golf practice net and al fresco barbecue zone, this substantial home has your family’s outdoor leisure time covered. On 1858 square metres close to top schools, the arts and crafts/Tudor-style property includes casual and formal living spaces.

Point Piper

Sydney 69 Wolseley Road

Expressions of interest

Agent: Ray White Double Bay, Adam Reichman 0418 479 904 There’s plenty to love about this elegant home in Sydney’s most exclusive street, starting with the postcard-perfect views across the harbour to the city skyline. Architect Michael Suttor is behind the beautifully updated living spaces, and credit goes to Annie Wilkes for the parterre garden.

Toorak

Melbourne 6-7 Kilsyth Avenue $15

Expressions of interest: Close 3pm, March 19

Agent: Kay & Burton Stonnington,

Grant Samuel 0403 132 095

The imposing facade is a fitting introduction to this Nicholas Day-designed residence which offers a lesson in no-nonsense luxury.

DESIGN DIGEST

Sunny side up

Playful patterns, vivid hues and echoes of travels fill these treasures with joy, sprinkling cheer around the home. Compiled by PAULINE MORRISSEY

FEAST YOUR EYES

Celebrate vibrant dining with Fenton & Fenton’s Sicilia Festa

Plates, a quartet of porcelain dinner plates from the limited Life in Colour collection. Each plate features a unique design with handpainted gold trim, capturing the essence of a well-travelled life.

fentonandfenton .com.au

BLUE-STRIPED BLISS Elevate poolside sessions with King’s splendid range of Pool Floats, including the 1977 and Reef selections. Crafted from premium, machine-washable materials for durability and ease, these curved floats sport classic blue stripes, embodying coastal elegance. kingliving.com.au

WAVY WARMTH Anchor living spaces with Bonnie and Neil’s luxurious Curls Golden Wool Rug, crafted from premium New Zealand wool. Featuring original artwork by Bonnie Ashley, its playful curl motif adds cheer to any room. bonnieandneil.com.au

RETRO RECLINER The Al Fresco Sun Loungers by Business & Pleasure Co. flaunt a vintage allure elevated for modern living. They feature four adjustable recline positions and a versatile side table that can sit left or right. businessandpleasureco.com.au

FEATURE STORY

Australia’s top 10 suburb median house prices add up to more than $55 million, which is a figure likely to surge further throughout 2024.

The nation’s blue-chip postcodes were in huge demand during 2023, and with little new supply coming onto the market, property prices generally remained high and are now being predicted to grow strongly this year.

Seven of the top 10, according to the Domain House Price Report for the last quarter of 2023, are in Sydney’s eastern suburbs, with two on the city’s lower north shore and only one from another state – Melbourne’s Toorak.

Ben Collier of The Agency says 2023 “was a strong year for the [Sydney] eastern suburbs property market”. And, with similar fundamentals underpinning the market in 2024, “we don’t expect a significant change”.

“A constant factor has been the continued rise of the prestige property market, from luxury apartments to record-breaking houses,” he says. And, the further we get into 2024, “this sector seems to remain as strong as ever.”

Sydney dominates the blue-chip list

Melbourne’s Toorak is the only non-Sydney suburb to make the top-10 list of areas with the highest median house price.

By SUE WILLIAMS

“That’s because prestige buyers are typically unaffected by interest rate rises, which may have slowed down other market segments.

“There is also a significant undersupply of these types of properties, compared to the enormous demand.”

Sydney’s Bellevue Hill tops the list with a median house price of an eye-watering $9.17 million – up 3 per cent on the previous year and 60.2 per cent in the past five. Next comes the nearby suburb of Vaucluse, which

has a median of $7.9 million, down 12.2 per cent on the year, although up 46.6 per cent over the past five years.

It should be mentioned that one of Sydney’s typically most expensive suburbs, Point Piper, did not officially register a median house price according to Domain data last year as a minimum of 50 sales for the year is required to calculate a meaningful median price. This accounts for its notable absence from the top 10 list.

Vaucluse has the second-highest median price, above; Bellevue Hill is first on the list, top right; and Toorak is the only “outsider” to make the list, right.

Domain records show just five houses changed hands in Point Piper last year – one sold for $68 million and the other for $60 million.

Domain chief of research and economics

Dr Nicola Powell says that even though a few of the top suburbs registered a price drop over the past 12 months, that often came on the back of earlier meteoric rises.

“You tend to find these premium locations leading price cycles,” she says. “They tend to see price growth sooner than other areas and experience greater rates of price growth.

“By the same token, they tend to see deeper declines when prices then fall.

“So, they can be strong in an upswing but vulnerable in a downturn.”

Knight Frank’s Global Prime Residential Forecast predicts that Sydney will have the highest growth in luxury residential property prices of all the Australian cities in 2024, with values growing by an anticipated 5 per cent.

Among these will be Bronte, which is the country’s third-most-expensive suburb, with a median price of $5.8 million, up 13.4 per cent over the past year and a massive 78.2 per cent on the previous five.

The next highest price was on the other side of the harbour, in Mosman, with a median of $5.013 million, up 5.8 per cent in the past 12 months and 33.2 per cent in five years.

In fifth place was Melbourne’s Toorak, with a median of $4.725 million, slightly down by 4.1 per cent in the last year and up only 6.8 per cent in the past five.

That’s a suburb that Kay & Burton managing director Ross Savas deals with regularly.

“We’ve had 25 sales from August 15, 2023, to December 15 in excess of $10 million, and ranging up to $65 million, although a lot of those sales go under the radar,” he says.

“But it’s not a high-turnover market. We don’t see a massive amount of new properties coming

onto the market. We had a tiny jump at the end of last year, but that’s all. Melbourne tends to be more conservative and people stay in their homes longer.”

Although Toorak owners are less likely to be affected by interest rates, when they do fall, Savas believes that will inject new impetus into the market.

“People will have more confidence to spend,” he says. “But the next six months won’t see a lot of turnover, so prices will continue to grow.”

The next five places on the top 10 are taken up by Rose Bay, with a median of $4.7 million, Northbridge at $4.65 million, Clovelly at $4.56 million – up a stunning 23.7 per cent on the year – Woollahra at $4.35 million and North Bondi at $4.275 million.

Simon Exleton of the Pillinger prestige sales team on the eastern beaches says demand for those suburbs has far outweighed supply, especially since the start of the pandemic when suddenly everyone craved a beachy lifestyle.

“We’ve had a really good run of sales, and from COVID, properties were probably selling 20 per cent over the odds,” he says.

“Supply of property is so limited in these areas, and the lifestyle is so highly desirable, with great beaches and good schools, that demand constantly pushes prices up.

“We also have a lot of expats coming to the beaches when they move back … and, depending on how strong the Australian and American dollars are, they can often afford big money.”

One area that is up-and-coming enough to one day creep into the top 10 is Centennial Park, Collier says. He recently had three sales over $20 million on Lang Road and had people buying houses for $12 million, $13 million and $14 million, and then spending $5 million to $6 million on renovations.

“Then they’ll also sell for around $20 million,” he says. “We’re currently seeing a big generational shift with older families moving out and downsizers coming in and buying.”

GREG BRIGGS

WOOLWICH

Its peninsula location is just one of the reasons why Woolwich is tightly held and deeply cherished. By

Once upon a time, Woolwich was a hidden gem accessible solely by boat – a telling clue to its distinctive position hugged by the Lane Cove and Parramatta rivers.

Today, this peninsula suburb proudly maintains strong ties to its surrounding waters. Locals are frequently spotted setting sail from the Hunters Hill Sailing Club, savouring meals at the waterside Deckhouse cafe, picnicking in the park, or exploring the scenic trails that meander to The Goat Paddock park.

Woolwich’s waterfront wonders

Steven Chen from The Agency Eastern Suburbs says Woolwich is a seamless blend of old-world charm and modern luxury, earning its status as a tightly held and deeply cherished area.

“Woolwich may be compact, but it boasts some of Sydney’s most prized real estate, with waterfront mansions and parklands that are highly sought after,” he says. “These areas house a mix of breathtaking heritage-listed mansions alongside modern residences, all enjoying unspoiled views of Sydney Harbour.”

Chen highlights the suburb’s appeal for those looking to upscale their living situation, drawn by its generous land plots and proximity to Sydney’s CBD, just 11 kilometres away.

“Showcasing the height of luxury in Woolwich, properties like 26 Gale Street boast private

PAULINE MORRISSEY

waterfronts, extensive jetties and secluded beaches, delivering breathtaking vistas and personal havens,” he adds.

“Compared to those in the eastern suburbs, these properties could command triple the price, highlighting the suburb’s significant potential for future capital gains.”

Sisters shaping the future

Beyond its residential allure, Woolwich’s heritage also shines in its commercial buildings.

An example is the former chemist’s cottage at 96 Woolwich Road, now transformed into the contemporary spaces of Shipman Interiors and Rise Up Pilates & Wellness, two businesses operated side by side by sisters Louisa Shipman and Laura Oliveri.

“Living over two decades on the lower north shore, with a view of Woolwich from my Lane Cove River home, I’ve always been captivated by the area,” Shipman says.

“Its vast green spaces are great for picnics and boat watching, with Clarkes Point being a prime spot for viewing Sydney Harbour.”

Oliveri says she is “incredibly grateful for the opportunity to operate my business in the serene Woolwich peninsula”.

“The warmth and support from the locals are heartwarming,” she adds, “made lovelier by my scenic commute on Woolwich Road.”

The house at 26 Gale Street is one of Woolwich’s many waterfront mansions.

YOU MAY LIKE ...

Woolwich

Sydney 26 Gale Street

$36 million

5 5 6

Expressions of interest

Agent: The Agency Eastern Suburbs, Steven Chen 0412 959 959

This waterfront property hosts a stately home with postcard-worthy views. It spills out to landscaped gardens, a mosaic-tiled circular pool, and a private jetty and beach.

Exceptional finishes

By LOU SWEENEY

Lavish sustainability

It’s

not often those concepts live in harmony, but Paloma in the Southern Highlands has navigated the design challenges.

If you wanted your fill of lush Australian landscape, you could do worse than head towards Robertson in the NSW Southern Highlands. Here are escarpments, waterfalls and green plains gathering themselves up into rolling hills and forests. The farms are both picturesque and productive.

Elemental beauty also abounds at Paloma Estate, where (nearly) 40 hectares showcase a diversity of textures, levels and shades.

From the modernist elegance of the main home surrounded by a heather-like carpet of grasses to the flat fields accommodating livestock below the sweeping rise, this is a masterwork of utility alongside urbanity.

Belle Property’s Monique Napper describes Paloma as “the best of the best – it’s like the Gaia of the Southern Highlands”, comparing it to the lavish Byron Bay wellness retreat.

“The battery plant here is the first of its kind built in Australia,” Napper says.

New Zealand architects at Fearon Hay –renowned specialists in sustainable, climatespecific design – conceived this low-slung, linear beauty in the best modernist tradition.

Its elemental brawn – glass, steel, concrete –is effortlessly beautiful, shaped into the environment and able to hold its own against the vagaries of the highlands seasons.

Inside, while the finishes are exceptional –imported marble baths, a knockout kitchen, swathes of sliding glass onto gardens – the opulence finds its best expression in the exquisite library.

“It’s worthy of a movie set,” Napper says, describing the truly eye-popping array of books on shelves that reach to the ceiling and curl around corners.

complements the broader surroundings but handsomely marks out the residential domain.

There are three other dwellings on this verdant spread. One is a pretty two-storey, threebedroom cottage with a terraced vegetable garden. Two studios, with bedrooms, bathrooms and beautiful views, are slotted into the green on opposite sides of the rise. A stable, riding area and round yard are also on offer. Napper says enquiries have come from everywhere, adding: “This is a one-time-only kind of property. International interest is very strong.”

Robertson

Southern Highlands Paloma Estate $40 million

9 7 6

Private sale Agent: Belle Property Berry, Monique Napper 0423 491 538

Paloma Estate,

“It’s absolutely gorgeous and it’s top of the line in sustainability,” she adds.

There certainly is abundance here, not the least in that comprehensive sustainability that allows the estate to operate completely off-grid.

Outside, the Myles Baldwin Design landscape does a stellar job of delineating areas.

Ponds, running water, hunks of smooth stepping stones, and tall sculptural grasses add to the serenity and create a frame that

Two

739/61 NOOSA SPRINGS DRIVE, NOOSA HEADS

Designed by Paul Clout, a superlative albeit handsome residence offers a beguiling blueprint which looks beautifully to the past and future for its design credentials, by cleverly combining Art Deco’s eye-popping curvaceous lines with lavish spaces, timeless style, and never leaving glamour at the door. The design is on par with excellence with a northerly aspect, views from most rooms and has a 36m golf

course frontage which seemingly melds with the 5th and 7th holes of world class Noosa Springs Golf Course. Central to the residence, is an over generous, lofty ceilinged living/dining space, drenched with natural light, a fireplace with sandstone feature, and curved walls of glass.

Price $7.45M

4

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Agent

Clare Sherwood

0402 903 733 clare@offermann.com.au

Agent

Patrick Sherwood

0413 889 130 patrick@offermann.com.au

18 COORAN COURT, NOOSA HEADS

If escaping to year-round forever summers of tranquillity to a top of the class waterfront residence, with its own white sand beach, space for two boats and only a short walk to Hastings Street, sounds too good to be true, start packing. Swoon over the expansive living areas boasting a sunny design-forward aesthetic, also the extensive deck, which appears perched on the 20-metre water’s edge. Note there are only four steps to the white sand tidal beach, so easy for launching a kayak into the shimmering river. The jetty is perfect for sundowners, yet long enough for a power boat requiring deeper water. Access to the Noosa River and the Everglade is close.

4 4 3

Auction Saturday 23 March 12pm

Agent Nic Hunter 0421 785 512 nic@offermann.com.au

offermann.com.au

Agent Julie Bengtsson 0418 980 247 julie@offermann.com.au

‘COLONGULAC’

103 SACKVILLE STREET KEW, VICTORIA

a 6 b 5 c 6 d f e g 2166 sqm*

An expansive Sackville Ward family sanctuary offering grandeur, luxury and resort style excellence.

Expressions of interest

16 April at 5pm

Sam Wilkinson

0400 169 148

Garrick Lim

0424 439 242

Isabella Maugeri

0438 096 720