La Gemme A Southern Highlands Showpiece For Sale
A European-inspired country estate reimagined with couture-level detail, La Gemme sets a new benchmark for Southern Highlands luxury.
2 min
La Gemme Estate, a grand getaway meticulously reimagined by The Property Stylist founder Kyara Larcombe, has debuted on the coveted Southern Highlands property market with a price guide of $30 million.
Kyara and her husband Clayton, founder of PAC Capital and Pacific Partners, bought the Bowral estate in 2021 and collectively set about curating a stately country compound that would feel at home alongside the heritage chateaux of Europe.
The finance and design duo purchased the 40ha property as a luxury weekender, then in 2024 held their wedding (after eloping in Lake Como, Italy) at the 40ha estate – a glamorous event later covered in Vogue magazine.
Deborah Cullen and Richard Royle of Cullen & Royle are marketing La Gemme through an expressions-of-interest campaign, closing on March 10 at 5pm.
“It is an absolute divine experience to wander around this estate. The detailing and finishes are on another level,” Ms Cullen said.
“Excitingly, we have had some very well-known families reach out to learn more.”
Over four years, Kyara – whose team has styled private homes worth as much as $100 million and iconic venues such as the Sydney Opera House – exercised her design prowess to bring the dream project to life. Alongside Clayton, the globetrotters travelled throughout Europe to gather inspiration and acquire unique antique pieces to furnish La Gemme.
Rather than a renovation, Ms Cullen said the finished result is a custom-made mansion with all the must-haves of the 21st Century.
The brand-new estate was designed for offshore investors and high-net-worth homebuyers, with a focus on architectural excellence and complete privacy.
La Gemme Estate can house up to 24 guests in the five-bedroom main residence and a separate two-bedroom guest house.
In the primary house, each bedroom has its own ensuite, and there is an additional attic suite. There are formal lounge and dining spaces, a study, a library and lift access.
Designer elements include a bespoke marble kitchen with two large island benches, a Lacanche stove, butler’s pantry with integrated appliances, reclaimed French oak floors retrieved from a historic church in Normandy, Joseph Gilles hardware, and 18th and 19th-century French chandeliers and mirrors.
Modern features include a climate-controlled wine cellar, underfloor heating, ducted air conditioning, a Lutron home automation system and security, and an integrated Bose sound system.
La Gemme Estate is also home to a 14m heated swimming pool and spa with a cabana and limestone-paved courtyard terrace, an outdoor fireplace and a wellness centre with a fully equipped gym and sauna.
Gardens designed by Richard Haigh feature a long driveway lined with mature plane trees, an abundance of established Australian natives, and a koi lake. Additionally, DA approval has been granted for a luxury stables complex and covered arena, ideal for equestrian enthusiasts.
The property, which is about 120 kms from Sydney and 185 km from Canberra, is accessed via two gated entrances; either from Range Rd, Mittagong or Kimberley Dr, Bowral.
La Gemme at 31 Kimberley Dr, Bowral is listed with Cullen Royle via an expressions of interest campaign closing on March 10 at 5 pm.
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Australia’s capital city housing markets have continued to record price growth, although higher interest rates and economic uncertainty are beginning to temper momentum.
3 min
Capital city home prices have continued to rise in April despite higher interest rates and ongoing uncertainty about the outlook for inflation and the global economy.
Growth rates, however, have eased, reflecting the usual subduing effect of the lengthy April holiday month.
The national capital city median house price increased marginally by 0.2% over the April quarter to $1,297,798 compared to the March quarter, according to the latest data from My Housing Market.
Annual national house prices are, however, 10.2% higher and have now increased for 14 consecutive months.
Most capitals reported house price increases over the month, with Brisbane and Perth the top performers, each higher by 1.3%, followed by Hobart and Darwin, both up 1.2%, Adelaide up 0.2%, with Sydney steady. Melbourne prices, however, fell 0.7%, while Canberra prices fell 1.7%.
Most also report strong annual house price growth in excess of 10%, with Perth, Darwin, Brisbane, and Adelaide clearly the highest, up by 25.7%, 21.6%, 20.0% and 14.2% respectively.
National unit prices were also higher in the April quarter than in the March quarter, rising by 0.5% to $728,459, and have now increased by 8.2% compared to the April quarter 2025 result.
Brisbane was the top monthly performer in April, with unit prices rising by 1.7%, followed by Perth up 1.0%, Melbourne and Canberra each up 0.9%, Adelaide up 0.6%, and Hobart up 0.1%. Sydney unit prices were steady over the month; however, Darwin unit prices were down 0.8%.
Similar to houses, Perth, Brisbane, Adelaide and Darwin continue to record the highest annual unit price growth to April 2026, at 30.1%, 27.8%, 12.9% and 11.8%, respectively.
Analysis
Capital city housing markets have generally reported higher home prices in April, although growth rates have eased compared to March.
Easing housing markets reflect the usual dampening effects of the lengthy April holiday month, although higher interest rates and increased uncertainty about the economic outlook have weighed on affordability and confidence.
Robust annual home price growth, however, continues for most capitals with Perth, Darwin, Brisbane, and Adelaide still reporting boomtime results.
Although 2026 is still set to see home price growth generally in most capitals, the rising spectre of further interest rate increases and elevated uncertainty over the outlook for inflation and the economy will continue to dampen affordability and confidence.
Brisbane, Adelaide, Perth and Darwin, however, are again set to lead capital city outcomes for both houses and units, but are unlikely to match the extraordinary 2025 results.
Brisbane, Perth and Adelaide continue to record higher median house prices than Melbourne, with Perth now closing in fast on Brisbane and set to lead all but Sydney.
Underlying drivers will continue to support overall housing market activity, although the outlook for RBA interest rates is more problematic, with inflation set to accelerate and economic activity to decline as a consequence of the recent sharp increase in oil prices.
The economy, however, remains strong, with a steady, still-low jobless rate, falling unemployment, continued robust job growth, and a high participation rate.
Housing demand continues to outpace a low and diminishing housing supply, and although high post-COVID migration levels have recently eased, numbers remain strong and will add to chronic housing undersupply, supporting high rents and low vacancy rates generally in capital city rental markets.
Following a period of easing in rental growth, the latest data continue to show extraordinarily low home rental vacancy rates and clear signs that rents are on the rise again.
High rents and higher prices continue to provide clear incentives for first-home buyers and investors chasing solid investment returns.
Ongoing government initiatives to support first-home buyers will increase demand and place further upward pressure on prices.
Capital city housing markets generally recorded higher house and unit prices over 2023, 2024 and surged over 2025, fuelled by rising buyer and seller confidence through sharp cuts to interest rates.
Although 2026 is again likely to see higher home prices, significant uncertainty has recently emerged about the near-term outlook for already-high interest rates and economic activity, which will generally dampen buyer and seller confidence.
Early signs are emerging in the recent weakening of home auction market clearance rates, particularly in Sydney and Melbourne.
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