Historic heritage Freemantle home on the market

The numbers 8 8 8 gracing the facade at Fremantle’s former Trades Hall aren’t a mark of the historic building’s address, or even the year of construction.

The digits are a nod to the labour movement’s motto of eight hours work, eight hours rest and eight hours leisure. It’s a symbolic welcome to a heritage home with a big story to tell and plenty of space to work, rest and play.

Few residences capture the spirit of a city quite like 6 Collie St, in Fremantle’s vibrant West End. Since its foundation stone was laid in 1901 by Western Australia’s first Premier, Sir John Forrest, the period property has lived several colourful lives.

Originally the headquarters of the trades and labour movement, the 701 sq m site was sold for $21,000 in 1968, when it became a popular music hall. By the early 1980s, it had been turned into a landmark restaurant known as Zorba the Buddha, operated by the Rajneeshee – aka the controversial Orange People.

Then the block became Club Le Maschere, a high-society Italian restaurant and bar, made famous after the America’s Cup win, when, in December 1986, it even earned a glowing review in the LA Times. Later, the two-storey building served as a convention centre until it was transformed into one of Fremantle’s most iconic private residences in 2009.

The Collie St home last sold in 2022 for $5.5 million, but is now seeking new custodians. Michael Harries and Kat Goddard of Ray White Dethridge Groves have listed it via an expressions of interest campaign, expecting in the “high $7 millions”.

Beyond the marble-floored portico, arched niches still display the workers’ organisations that once filled the hallowed halls. The remainder of the home, however, has been transported into the 21st Century through a sophisticated interior makeover.

At ground level, there is a ballroom-sized multipurpose workspace framed by tall curved windows, intricate pressed tin ceilings, stately bookcases salvaged from the old Battye Library, a kitchenette, and a bathroom. The vast space flows out to a private courtyard with sheltered seating and a sculptural pond.

Across the hallway, the main bedroom features a fireplace and a palatial ensuite with a freestanding tub. The same floor also houses two more bedrooms, a media room, and a laundry room.

Upstairs, via a meticulously restored sweeping jarrah staircase, the primary living level is a grand open-plan lounge and dining zone with cathedral-style ceilings. The contemporary commercial-grade kitchen features a large butler’s pantry and two work islands.

Additionally, there is another bedroom with an ensuite, an internal deck with a plunge pool overlooking Esplanade Park, plus three Juliet balconies.

In total, there are four bedrooms, with the possibility of a fifth, artwork lighting systems, CCTV security and alarm, climate control, electronic blinds, and off-street parking for three cars.

Sitting across the road from the Esplanade Hotel, this rare residence is also within walking distance of Bathers Beach, museums, galleries and sought-after restaurants.

The unique heritage home at 6 Collie St, Freemantle is for sale via an expressions of interest campaign with Harries and Kat Goddard of Ray White Dethridge Groves.

By any traditional measure, Australia’s property market should be moving in sync. Instead, it is fragmenting.

New research from MaxCap, led by Head of Research Bruce Wan, paints a picture of a market no longer defined by national trends, but by sharp regional divergence, where performance gaps between cities are widening, and the smartest capital is moving accordingly.

At the top end of the ladder, Perth and southeast Queensland are surging ahead. At the other, Melbourne and Auckland are only just beginning to recover from recent downturns. And sitting squarely in the middle is Sydney, steady but constrained.

The takeaway is clear: the era of relying on headline markets is over.

The rise of the unexpected leaders

Brisbane and the broader southeast Queensland region have emerged as standout performers, driven by population growth, infrastructure investment and a sustained undersupply of housing.

According to the report, housing values in the region have continued to accelerate, supported by long-term tailwinds including the 2032 Olympic Games and a decade of relatively subdued price growth prior.

Perth is telling a similar story, albeit for different reasons. Once heavily tied to commodity cycles, the Western Australian capital is now benefiting from a broader base of economic drivers, including defence spending and sustained resource sector strength.

The result is a housing market that remains one of the strongest in the country, even as price growth begins to ease from its peak.

Sydney holds, but doesn’t lead

For Sydney, the story is more nuanced.

While prices continue to climb and the city remains Australia’s most expensive market, affordability constraints are clearly limiting its pace. Residential growth, while positive, lags behind smaller capitals, and commercial sectors are being held back by softer demand in key industries.

There are, however, signs of momentum building. New infrastructure, including the western Sydney Airport and expanded rail networks, is expected to unlock development opportunities and support future growth, particularly in emerging precincts.

Still, the report positions Sydney firmly in the “middle of the pack”, no longer the automatic frontrunner for investors.

Melbourne’s slow reset

Melbourne, once a consistent performer, has spent recent years recalibrating.

Extended lockdowns, combined with new state property taxes, have weighed heavily on investor sentiment and pricing, particularly across the commercial office sector. Residential values have also underperformed, though for different structural reasons.

Now, there are early signs of recovery.

Improved affordability, population growth and a stabilising economic backdrop are beginning to draw buyers back into the market, with both residential and commercial sectors showing tentative signs of improvement.

Auckland’s turning point

Across the Tasman, Auckland has faced its own challenges, particularly from an outflow of younger workers to Australia, which has dampened demand and stalled price growth.

But here too, the tide appears to be shifting.

A return to positive migration, lower interest rates and policy changes — including the easing of foreign buyer restrictions — are expected to support a gradual recovery, alongside renewed interest from offshore capital.

A market that rewards precision

If there is one unifying theme, it is this: broad-brush strategies no longer work.

MaxCap’s research highlights that the most compelling opportunities are increasingly found outside the traditional powerhouses of Sydney and Melbourne, requiring investors to take a more targeted, locally informed approach.

“Given these persistent performance gaps, there is plentiful scope for alpha returns, just by picking the right locations and market segments,” the report notes.

In other words, success in this market is no longer about being in property — it is about being in the right property, in the right place, at the right time.

And increasingly, that place may not be where you expect.

Historic heritage Freemantle home on the market

A landmark Trades Hall reborn as a grand private residence, 6 Collie St blends century-old heritage with bold contemporary luxury in the heart of the West End.

New research shows a widening divide across Australia and New Zealand’s property markets, with investors increasingly forced to look beyond traditional strongholds to find real returns.