Domain Prestige - September 25, 2019

25 SEPTEMBER / 2019

PRESTIGE THE BEST IN AUSTRALIAN PROPERTY

SUNNY OUTLOOK Good time s ahead

B y K ATE FARRE LLY

Sylvania Sydney 2-4 Venetia Street $9 million + J E N M E LO CCO

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For sale: By expressions of interest Agent: DJW Property, John Basa 0400 650 351 There are top-class boating facilities at this With spring underway, the property market is hotting up and that includes

waterfront pad, but it may prove difficult to drag

the world of luxury residences. In our feature story today, we look at how

yourself away from the gas-heated pool, designer

the high-end market is faring across the country. Meanwhile, we look at the

gardens and private sandy beach. There’s no

home ownership journey of federal Opposition Leader Anthony Albanese

shortage of luxury inside with finishes in marble,

in Property Path. While there have been plenty of upgrades along the way,

limestone and wrought iron, a Miele kitchen with

the Labor leader has kept to a patch of Sydney’s inner west. In Living In,

cool room and a rumpus room with wet bar.

we head to bayside Brighton in Melbourne and look at the healthy lifestyle that it offers, along with its impressive homes. Along with established larger free-standing homes, townhouses and boutique apartment blocks are now

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being built as downsizers look for a more manageable home in an area they

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already love. And for those looking for the right car to park in their garage,

to view listing

we review the Aston Martin DB11 Volante in Luxe Life.

Editor: Jen Melocco Jen.Melocco@domain. com.au Editorial producer: Isabelle Chesher Managing editor: Alice Stolz Senior designer: Colleen Chin Quan Graphic designer: Emma Staughton Chief executive officer: Jason Pellegrino Chief consumer officer: Jason Chuck Residential sales: Queensland Brad McLeod, 0429 571 826 New South Wales Belinda Sinclair 0414 580 903 Victoria & Tasmania Mitch Armstrong 0438 820 767 Western Australia, South Australia & Northern Territory Jeroen van de Peppel 0427 292 797

HOT PROPERTY

NIC WALKER

PROPERTY PATH Anthony Albanese’s moving story

FEATURE STORY Spring in the market

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Digital edition Visit domain.com.au/ digitaledition

O U R COVE R 66 Tingira Crescent, Sunrise Beach.

ISTOCK

LIVING IN Bayside Brighton

Listed by Tom Offermann Real Estate PAG E 3

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LUXE LIFE Flying start

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Use the Domain app codes to see more of your favourite properties

Elwood Melbourne 67 Ormond Esplanade $4.5 million

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For sale Agent: Follett & Co., Ryan Fisher 0424 846 822 The fabulous keyhole windows and doorways are a highlight of this 1920s beachside beauty which also boasts vaulted ceilings, parquetry flooring, open fireplaces and tree-filtered water views. There are three living zones, two terraces and a pool, all set close to village shops and schools.

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Caulfield North

Sunrise Beach

Melbourne 23 Bambra Road

Sunshine Coast 66 Tingira Crescent

$11 million-$12 million

Auction

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For sale: By expressions of interest

Auction: October 5

Agent: Marshall White Stonnington, Marcus Chiminello 0411 411 271

Agent: Tom Offermann Real Estate,

Halstead House comes with a hearty serve of history. Believed to be

Milan Markanovic 0401 008 138

Caulfield’s oldest residence, the 1857 colonial home sports a three-storey

Beachfront bliss is yours at this stylish home

tower and grand living spaces. The established gardens play host to a tennis

which enjoys front-row views of the Coral Sea

court and stables converted to self-contained accommodation.

from the living spaces and the main bedroom.

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The ultimate Gold Coast sanctuary

CONSTRUCTION HAS COMMENCED!

Situated just 350m from the Gold Coast’s iconic Broadwater, Summit is a boutique collection of 83 apartments cleverly orientated to capture stunning water and hinterland vistas.

Positioned just 10mins from Southport CBD, 20mins from Broadbeach and 40mins from Brisbane, Summit caters to all lifestyles.

cresser.com.au CCJ17586

1 Bed from $350,000

110 Frank Street, Labrador, Gold Coast

2 Bed from $415,000

3 Bed from $605,000

Sales Office: 64 Frank Street, Labrador, Qld 4215 Monday to Friday, 9:00am to 4:30pm 0404 452 731 | projects.broadwater@ljhooker.com.au www.summitlabrador.com.au

Illustrations and plans are illustrative only. Recipients are advised to undertake their own investigations to satisfy themselves as to all aspects of the development. All details were correct at the time of printing and are subject to change without notice.

PROPERTY PATH

B y LU CY MACKE N

NIC WALKER

Just a Marrickville boy at heart Leader of the Opposition Anthony Albanese hasn’t strayed far from the suburb where he bought his first house in 1990.

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f the Labor Party faithful have their way come the next federal election in 2022, party leader Anthony Albanese will be the next prime minister of Australia.

For the Labor leader such a victory would also likely mean moving to the official PM’s residence in Sydney, Kirribilli House, and The Lodge in Canberra, making it the first time he has lived outside of the inner west.

Albo, as he is affectionately known, comes from Camperdown, more specifically 41 Pyrmont Bridge Road, where his late singlemother Maryanne raised him in a councilowned housing estate.

In early 1990, Albanese was all of 26 when he debuted on property title records as a “political party official” buying a two-bedroom semi in Marrickville for $146,000. He has come a long way in the party since then, but remains firmly

entrenched in Marrickville’s riverside neighbourhood.

In 1995, Albanese went to work as a senior adviser to then-premier Bob Carr and sold the Marrickville semi so he and his then-girlfriend, Marrickville deputy mayor Carmel Tebbutt, could buy a house up the road for $242,000.

They did well on the purchase, making a capital gain of almost $200,000 when, as a newly elected federal MP six years later, he sold it.

The darlings of Labor’s left married in 2000 and bought a double-fronted worker’s cottage in Newtown for $646,000 – well above Newtown’s then-median of $340,000. It was a brief stay in the grand scheme of things. Six years after they bought in Newtown they sold for $755,000 to return to Marrickville.

The Federation bungalow with a contemporary rear extension and a swimming pool that the

recently separated couple bought in 2006 for $997,500 – about 200 metres up the road from his first buy – remains his primary residence.

Albanese has shown he shares that very Australian penchant for property investment, buying an investment house down the road from his Marrickville home in 2012 for $1.115 million and another investment in Dulwich Hill in late 2015 for $1.175 million.

The Labor Party lost the May 18 election – due, many claim, to its housing market policies which are now under review – but Albanese kept his safe Labor seat for the seventh election in a row. Four months ago he was elected unopposed as the party’s leader.

STEVEN WOODBURN

Anthony ‘Albo’ Albanese, leader of the Australian Labor Party and MP for Grayndler, above; Marrickville in Sydney, left.

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Prime time to ring in spring sales

FEATURE STORY

Australia’s high-end property prices are holding their own as the world battles economic headwinds. B y SU E WILLIAMS

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conomic headwinds sweeping the world are failing to dent the prestige property market, with prices in most Australian capital cities showing growth over the past year and projections the rate will increase over 2020.

“There’s still a difference between the mainstream market, which fell into negative territory, and the prime market,” says Knight Frank research director Michelle Ciesielski.

“The prime market has really held up, being less reliant on funding and now, in spring, we’re seeing a lot of activity. There’s a lot more confidence now post-election and with interest

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rate cuts, and that’s flowing into prestige property,” he adds.

Sydney’s prime market prices grew by 2.5 per cent over the past year, and are expected to advance 3 per cent over 2020, Melbourne’s are up 2.1 per cent, Brisbane 2.2 per cent and the Gold Coast 1.1 per cent, says Ciesielski.

Her optimism is supported by strong auction clearance rates for homes in high-end areas, according to Domain Group research analyst Eliza Owen.

“We’re seeing the property cycle moving back into an upswing in Sydney and Melbourne, and

generally we see the higher end of the market moving first,” she says.

“So in Sydney, for instance, we saw the lower north shore with a rate of 80 per cent for August – compared to the general rate of 72 per cent – and in Melbourne’s inner east 77 per cent against the main 70 per cent. We’re also seeing more auctions happening, with volumes rising and less time on market.”

Brisbane and the Gold Coast prestige markets are still lagging behind, Owen says, but are expected to stabilise by the end of the year.

That all means the outlook is healthy for properties like this five-bedroom, multi-level harbourview home on Coolong Road in Sydney’s Vaucluse, now on the market for $12 million.

“We’re finding the prestige market is strong for good-quality property at the moment, especially in the $10 million to $15 million range,” agent Randall Kemp of Ray White Woollahra says.

It’s a confidence mirrored by Savills Victoria state director Clinton Baxter in Melbourne.

“There’s been a real uplift in confidence throughout the market, and particularly in

YOUR AGENT Randall Kemp, Ray White Woollahra

“There’s a lot of active buyers in that top market around now, and we had four offers on this property in the first five days. People like it as it’s very private from the street and has stunning views.”

prestige, over the past couple of months with strong auction results,” he says.

“Transactions are now occurring a lot more rapidly and FOMO [Fear of Missing Out] is kicking in, and the impact of social unrest in Hong Kong is being felt, with the uber-rich in Hong Kong and China looking at prestige property here.”

A record 26 per cent of global ultra-high net worth individuals are beginning to plan for emigration this year, according to Knight Frank’s latest Australian Prime Residential Review, with the preferred destinations the US, Canada, the UK and Australia.

In addition, an increasing population of uberrich Australians is proving another key driver of the prestige market. Our ultra-wealthy population grew by 12 per cent over the past five years and is projected to grow by 20 per cent over the next five, according to the report.

The only major challenge is the level of uncertainty in the global environment, generated mainly by Brexit, Hong Kong and US President Donald Trump’s trade wars with China.

“That uncertainty means people don’t want to leave themselves too exposed with too much high-end property,” says Angie Zigomanis, senior manager at BIS Oxford Economics.

“The forecast for the next 12 months is that economic headwinds will still blow.”

Vaucluse Sydney 27 Coolong Road $12 million

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For sale: By expressions of Interest Agent: Ray White Woollahra, Randall Kemp 0415 818 966

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LIVING IN

37.912° S, 144.985° E

BRIGHTON ISTOCK

It’s all about the beach for Brighton residents with landmark bathing boxes and sea-baths on the doorstep. B y K ATE FARRE LLY It’s one of Melbourne’s wealthiest suburbs

travel for work. “They come here to catch their

and the first place that springs to mind for a day

breath and quiet their minds,” he says.

at the beach. Residents of Brighton love living

agent Jason Gill grew up in Brighton and was

nature alongside a cosmopolitan lifestyle.

keen to return to the suburb after getting married

“We seem to be happiest when we’re by the

and having children. “I wanted the kids to grow

water,” says Matthew Paynter. “We joke about

up here, it’s such a good place to raise families,”

it, but it’s probably a place where we feel safe,

he says. “You’ve got all the local schools, all the

connected and can relax.”

sporting clubs, you’re very close to the water and

Club, Paynter is in a good position to comment.

When he took the reins in 2008, the venue was

Brighton Melbourne 5 Windermere Crescent $5.4 million-$5.94 million

Club member and Hodges Real Estate Brighton

bayside where they enjoy a happy dose of

As director of the iconic Brighton Baths Health

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there’s nothing better than going for a walk along the beach on a nice day.”

The beach plays host to another bayside

in a state of disrepair, with a focus on the cafe

landmark, the colourful Brighton bathing boxes,

and restaurant but no love spared on the gym

which regularly attract prices in excess of

or sea-baths.

$300,000 on the rare times they come to market.

Healthy living

Diverse dwellings

Keen to share the lifestyle benefits of the

Beyond the beach, Brighton offers two cinemas,

For sale

beachfront club with a more diverse group and

galleries, a strong restaurant and cafe culture

Agent: Hodges Real Estate Brighton,

capitalise on the superb location, Paynter has

and excellent public transport alongside a wide

Jason Gill 0411 801 831

grown the membership from fewer than 200

mix of housing.

Beautifully configured to make the most of the

to 1000 members and expanded the club’s offerings to provide a more holistic program.

“We’ve dialled down the boys’ club mentality

Gill says there are still plenty of character

north-facing back garden and pool, this family

homes as well as big contemporary homes and

home on 1410 square metres has three living

new medium-density offerings. “The townhouse/

spaces plus a covered deck with built-in

and introduced yoga, meditation and pilates,”

apartment market is really gaining momentum,”

barbecue and gas fireplace.

he says. “Then there’s the Icebergers, the gym,

he says. “There’s a large population of long-term

personal training, kayaking, stand-up paddle

established Brighton residents who don’t want

A bayside feature: the

boarding and beachfit classes.”

to leave the area but want to downsize, so there’s

Brighton bathing boxes,

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very good demand for single-level townhouses

which rarely come onto

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and apartment-style living.”

the market.

to view listing

Paynter says members include locals, city workers and even people who live interstate and

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LUXE LIFE GARAGE

Chelmer

Flying first class on the open road

Brisbane 47 Longman Terrace $8 million-$10 million

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B y S TE PH E N CO RBY

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here are many names for cars that can drop their tops – Convertible, Cabriolet, Roadster, Boxster, Spider and, weirdly, Spyder – and while I find the fact that my daughter calls them all “Car No Roof!”, I must admit that “Volante” has got to be the best of all.

Tell someone you’ve just bought yourself a Volante and they may well be confused, particularly if they speak other languages.

In Italian it means “flying”, in Brazil it refers to a midfielder in football, and in the language of music it means “moving with light rapidity”.

Aston Martin’s DB11 Volante is certainly all about rapidity, with a zero to 100km/h sprint of 4.1 seconds, but the only relation it has to light is that you can get a suntan while driving it.

While many car companies aim for performance via light weight, Aston Martins always feel like baroque furniture with wheels.

This is a car “Hand Built in England”, and everything about the way it looks and feels – from the heft of the doors, to the unbelievable solidity and plushness of the folding roof –

brings to mind the term “coach building”, as opposed to mere car making.

In this DB11, Aston Martin wisely focuses on the look and feel side of things, and buys in a suitably bespoke engine from Mercedes-Benz AMG; a barrel-chested and throaty 4.0-litre twin-turbo V8 that makes 375kW and 675Nm. It’s enough to make even a car as stolidly solid as this feel effortless, at any speed.

No, this DB11 is all about cruising while oozing visual appeal. From any and every angle it is a beautiful and muscularly proportioned piece of motoring architecture, and the fact that you can drop the roof only increases the feeling that this is a car you buy to be seen in.

It costs significantly more to show your face to other road users, however, with the Volante adding around $30,000 to the price of the DB11 coupe, taking the sticker to a hefty $398,495.

Owners of the coupe, however, don’t get to experience the pleasure of explaining to people what a Volante is, nor the subtle joy of just saying the word. Volante!

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For sale Agent: McGrath Paddington, Alex Jordan 0410 424 749 Sometimes it can be difficult to find a home that’s good enough for your car. Not just a garage big enough (this Queensland pile has space for your Aston plus seven more) but a house that’s as visually splendid as your vehicle. No such problems with this stunning home, though.

The Aston Martin DB11

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Volante is a drop-top to

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be seen in.

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COLLAROY BASIN 1 & 2/9 Florence Avenue 'HINEMOA' TWO LUXURY BEACHFRONT HOMES A rare opportunity to secure two of only fourteen absolute beachfronts located in one of Sydney's most exclusive and tightly held enclaves. These beautifully crafted residences enjoy custom high end finishes throughout creating a mood of laid-back luxury. Grand kitchens and open plan living areas open onto alfresco entertaining decks with direct beach access, complete with a large underground carpark.

belleproperty.com/62P4468

4 4&3a 0 3 2v 3&3b 2&2 View By Private Appointment For Sale Expressions of interest Closing Thursday 17th October Brendan Pomponio 0411 845 119 Joshua Perry 0420 941 220 Daniel Hindmarsh 0423 125 501

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255 Monaco Street, Broadbeach Waters

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LUXURY ICONIC MANSION ON MAIN RIVER Situated on a sprawling 3296 metre block on prestigious Monaco street this magnificent home offers the quintessential Gold Coast lifestyle.

The property represents an opportunity to own one of the most iconic homes in the city.

The open plan indoor areas flow effortlessly to multiple outdoor entertaining terraces.

The interiors approximately 1300sqm in total space.

A 17 metre resort style pool & tranquil water features will give you a holiday feel every day.

Massive 15 metre pontoon will cater for a large boat & several jet skis.

luxure.net.au

For Sale $13,750,000

AGENT Sonja Smith 0412751921 sonja@luxure.net.au

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ED OW NE TO RS SE CO LL MM IN IT G T

Broadbeach Waters 15 Cleland Crescent Main River Modern Masterpiece on North Facing Double Block Expressions of Interest Closing 5pm 22 October, 2019 5

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30.5m

821m2*

1,176m2

The epitome of exquisite craftsmanship and exceptional design beckons with this modern industrial masterpiece.

Indulge in 821m2* of luxury living and entertaining. Showcased by dramatic 18ft ceilings, a stone-clad fireplace and floor to ceiling expanses of glass, it integrates effortlessly with the outdoors, where a bespoke concrete beam borders this captivating alfresco space. Complete with a built-in outdoor kitchen, solar heated pool and spa plus a panoramic outlook towards the glittering Gold Coast skyline. This is a rare offering not to be missed.

View Saturday 11:00am - 11:30am Michael Kollosche 04111 888 15 | Ryan Ward 0405 309 359

kollosche.com.au

*approximate

One and Only Chance Single standing home of 322sqm with a NNW orientation that captures the winter sun and protects you in summer.

One of only 14 this is the latest development on the island.

Complex comprises of 28 metre wet edge pool with direct access to its own sandy beach. All large bedrooms are en-suited with dual living and balcony areas upstairs and down stairs with panoramic views over the Whitsunday Islands. Property comes fully furnished, buggy and large holiday letting bookings of over $180,000 gross income within 6 months of marketing.

Perfect lifestyle and investment opportunity.

Offers from $2,150,000 W yne Singleton 0416 024 168 Wa wayne.singleton@qldsir.com

www.queenslandsothebysrealty.com

3A 3B 1D E

6/6 Acacia Drive Hamilton Island

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Accelerating success.

Reach more people - better results faster.

FAR NORTH QUEENSLAND MASTERPIECE FORMAL OFFER closing Thursday 10 October at 4pm CAIRNS, QLD

PRESTIGE RESIDENTIAL

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Stunning city, rainforest & mountain aspect

Private 6,800m2* freehold estate

1,400m2* of living across 2 levels

Multiple lounge, dining & entertaining areas + gym, offices & music room

6 bedrooms, including self-contained 2 bedroom guest quarters

7 bathrooms including ensuite to each bedroom

8 car underground garage

colliers.com.au/208575

Tom Quaid 0400 773 444 Jay Beattie 0428 551 062 *Approx

colliers.com.au

SALE BY EXPRESSION OF INTEREST Closing Monday 7th October 4pm

2901/3 YARRA STREET, SOUTH YARRA

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Penthouse perfection with spectacular views This spectacular South Y Yarra penthouse by Mim Design captures mesmerising city skyline views for the ultimate in sophisticated living.

CONTACT Sean Cussell +61 425 787 979 Natalie Frid +61 419 999 659 prestigehomes.com.au

Approx. 600sqm of flawlessly designed spaces comprise vast kitchen and openâ&#x20AC;&#x201C;plan living, four bedrooms with ensuites and WIRs, bar, three living areas, private plunge pool. southyarrapenthouse.com.au