DOUBLE-DIGIT HOUSE PRICE GROWTH ARRIVES AHEAD OF EXPECTATIONS
Australia’s housing market defies forecasts as prices surge past pandemic-era benchmarks.
2 min
Australian house prices are surging again, delivering double-digit annual growth months ahead of schedule.
Nationally, the median house price climbed 1.1 per cent in October to $940,000, lifting annual growth to 10.6 per cent, the first double-digit increase since the 2021–22 property boom.
Market Resilience Surprises Analysts
The acceleration comes earlier than expected, according to Ray White Group Chief Economist Nerida Conisbee, who says the milestone was originally forecast for the end of the year.
“Stronger-than-expected October gains and continued tight supply across most markets have pushed growth ahead of schedule,” Conisbee said. “This shows how resilient demand has remained through spring.”
Perth (+14.8 per cent), Brisbane (+12.5 per cent) and Adelaide (+10.8 per cent) continue to lead the charge among capital cities, while Sydney (+8.6 per cent) and Melbourne (+6.5 per cent) show steady, consistent increases.
Regional Markets Extend Their Lead
Beyond the capitals, regional Australia is powering ahead, particularly in the resource states.
Regional Western Australia jumped 16.4 per cent year-on-year, and regional Queensland followed close behind at 14.5 per cent, as population growth and affordability continue to drive demand.
Units Outperform Houses
Unit prices rose even more sharply in October, up 1.4 per cent to $710,000, marking 9.2 per cent annual growth. Conisbee said affordability pressures, new first home buyer incentives, and a lack of available stock are pushing more buyers into the apartment market.
“Units are now seeing stronger monthly gains than houses, reflecting both affordability constraints and renewed first-home-buyer activity,” she said.
The biggest monthly jumps were in Perth (+1.6 per cent), Adelaide (+1.5 per cent), and Brisbane (+1.4 per cent). Melbourne’s unit market also firmed, up 1.6 per cent, as buyers returned to lower price brackets.
Spring Demand Defies Higher Listings
Despite an influx of spring listings, new stock has failed to match the intensity of buyer demand. Nationally, house prices have now risen every month since February, and unit prices every month since March.
“The pace of growth shows demand hasn’t been dampened by higher supply,” Conisbee said.
Outlook: Steady Growth Into 2026
The data comes as the Reserve Bank prepares for its Melbourne Cup Day meeting, where rates are expected to remain on hold at 3.6 per cent.
With inflation easing only gradually and unemployment sitting around 4.5 per cent, analysts expect monetary policy to stay steady for now.
Ray White’s forecast suggests 2025 will close with high single- to low double-digit annual growth nationally, with smaller capitals and regional areas tipped to outperform well into 2026.
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At the northern tip of Point Piper, hidden from the street and positioned directly on Sydney Harbour, “Radford” combines cinematic views, rare waterfront access and a fascinating connection to one of Australia’s most storied estates.
The five-bedroom residence occupies land once belonging to Paradis Sur Mer, the celebrated three-block waterfront estate that made Australian property history in 1982. The original mansion became the country’s first home reported to have sold for more than $5 million—and may also have inspired one of its fastest and most profitable resales.
Property developer and yachtsman Bernard Lewis purchased the estate at auction for $5.25 million, only to sell it within hours to English betting magnate and thoroughbred breeder Robert Sangster. Lewis reportedly made a $500,000 profit in the process.
Sangster renamed the property Toison D’Or—French for “Golden Fleece” and the name of one of his racehorses—and established it as a Sydney base with his then-wife, Susan. The estate subsequently changed hands and identities again, becoming Paradis Sur Mer, or “Paradise on the Sea”, during Susan’s marriage to financier Sir Frank Renouf.
After another headline-making sale near the peak of Sydney’s late-1980s property boom, the original mansion was eventually demolished and the waterfront holding subdivided. “Radford” now stands on one of those prized parcels, carrying a thread of that extraordinary history into the present day.
Harbour views take centre stage
Designed by award-winning architect Victor Berk and constructed in the early 1990s, the three-level modernist residence has been planned around its exceptional position.
Panoramic views stretch from the Sydney Harbour Bridge across Shark Island and Rose Bay to Manly. A prized northerly aspect fills the home with natural light, while bedrooms and living spaces open to decks, balconies and terraces overlooking the water.
The main living areas flow to a broad alfresco entertaining terrace, sunny swimming pool and level harbourfront lawn. Beyond the garden, a private jetty completes the quintessential Sydney waterfront lifestyle.
Inside, generous proportions make the home equally suited to private family life and large-scale entertaining. The formal dining area can accommodate up to 14 guests, while a Gaggenau-appointed kitchen incorporates an island, walk-in pantry and casual breakfast area opening to the poolside deck.
A fireplace anchors the principal living space, complemented by high ceilings, travertine floors and expansive glazing that keeps the harbour present throughout the home.
A private sanctuary on every level
The main bedroom is accompanied by two walk-in wardrobes, a sitting area and an ensuite featuring a spa bath, separate shower and twin basins. Three further bedrooms each have an ensuite, while a gym with its own kitchenette, built-in storage and bathroom can serve as a fifth bedroom or private guest retreat.
Additional spaces include a fitted home office, an upper-level family area, sauna, two powder rooms and a substantial laundry. A lift connects all three levels, and the central staircase sits beneath an atrium-style glass roof fitted with an electric retractable blind.
Ducted and zoned air-conditioning, extensive storage and a security alarm add everyday practicality. Internal access leads to an oversized secure double garage, with additional driveway parking.
Set in an elite cul-de-sac on one of Australia’s most prestigious waterfront streets, “Radford” is close to Lady Martins Beach, Prince Edward Yacht Club, the Royal Motor Yacht Club, Rose Bay’s marinas and leading schools. Double Bay’s restaurants, boutiques and village amenities are only minutes away.
It is an exceptional harbourfront residence in its own right—but its connection to the record-breaking Paradis Sur Mer estate gives it a place within the wider story of Sydney real estate.
Property details
Address: Wolseley Road, Point Piper, NSW
Bedrooms: Five, including a flexible gym or guest suite
Bathrooms: Five, plus two powder rooms
Parking: Oversized double garage and additional driveway space
Key features: Northerly aspect, panoramic harbour views, private jetty, swimming pool, level waterfront lawn, lift, sauna, home office and Gaggenau kitchen
Architect: Victor Berk
Agents: Michael Pallier, Sydney Sotheby’s & Brad Pillinger, Pillinger
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