Aussies Paying World-Leading Premiums For Waterfront Properties
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Aussies Paying World-Leading Premiums For Waterfront Properties

By Kanebridge News
Thu, Aug 11, 2022 10:30amGrey Clock < 1 min

New research from Knight Frank’s International Waterfront Index shows waterfront properties are costing more than double their inland counterparts in Sydney while in Melbourne waterside properties attract a 40% premium.

Australia’s coastline attracts some of the highest waterfront premiums in the world with Sydney topping the index — an average premium of 121% — compared to an equivalent home set away from the water.

Auckland ranked second on the list of 17 international locations — a premium of 76%. The list saw Gold Coast (71%), Perth (69%) and the Cap d’Antibes (59%) on the French Riviera round out the top 5.

Australia continued to feature prominently in the research with Brisbane’s waterfront premium coming in at 55%, with Melbourne also in the top 10 at 39%.

According to Knight Frank Australia’s head of residential research, Michelle Ciesielski, there has always been strong appetite for Sydney’s waterfront homes.

Australia’s luxury residential market has advanced, it lacks the depth of prestige markets in more established global cities said Cieselski.

“As a result, our Australian cities can achieve a significantly higher premium on the waterfront compared to a similar property inland without access to, or a view of, water,” she said.

“Also, Australia is known for its balmy outdoor lifestyle, so many buyers in this super-prime space are willing to pay a premium to secure the ideal position along the waterfront.”

The data also suggests that beachfront homes were most desirable, commanding a premium of 63% compared to harbour locations fetching 62% premium and coastal homes with a 40% premium.



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The home in the village of Sagaponack has plenty of balconies to take in the surrounding water views

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A waterfront home in the Hamptons village of Sagaponack, New York, is on the market for the very first time.

Asking $25.95 million, the gray shingle-style home was built in 2008 by the seller and has since been available as a summer rental, but it’s never been up for sale.

Designed by architect Faruk Yorgancioglu, the “waterfront home offers privacy and panoramic beauty that cannot be duplicated under today’s zoning laws,” said co-listing agent Marilyn Clark of Sotheby’s International Realty – Bridgehampton Brokerage.

Jaime Lopez for Sotheby’s International Realty

The seller bought the property, which at the time had two small structures, at auction in 2005 for approximately $2 million, according to co-listing agent Deborah Pirro of Daniel Gale Sotheby’s International Realty. Mansion Global could not contact the seller.

The home hit the market Thursday, and in addition to Clark and Pirro, it is co-listed by Raquel Lopez of Sotheby’s International Realty – Bridgehampton Brokerage and Diane Anderson of Daniel Gale Sotheby’s International Realty.

Spanning 6,000 square feet, the home is filled with bright interiors, which were designed by New York-based interior designer Steven Gambrel. The open gourmet kitchen flows into a casual dining area and a living space with a fireplace, which is one of two double-sided fireplaces in the home, Pirro said.

A sunroom overlooks the water.
Jaime Lopez for Sotheby’s International Realty

“The placement and scale of fireplaces throughout the home is perfection,” she added.

A separate dining room has French doors that open onto a deck, listing photos show.

There are six en-suite bedrooms, including two primary bedrooms. The larger of the two is its own private retreat, outfitted with a fireplace, a sunroom and a large balcony, offering a space to watch the sun set over Sagaponack Pond, according to Sotheby’s.

Jaime Lopez for Sotheby’s International Realty

The home sits on a little more than an acre of waterfront land, bordering Sagaponack Pond, where there’s a private dock, and looking out at the Atlantic Ocean in the distance.

“The location on the pond with the view of the ocean waves breaking is spectacular and unique,” Clark said. “You are close to beaches and the Sagaponack General Store. It is a quick paddle to the famous Sagg Main Beach.”

Other outside amenities include a gunite swimming pool and a hot tub, which are surrounded by a spacious deck, as well as a pool cabana, which has a full bathroom, changing rooms and a sauna. There’s also multiple balconies, decks and a screened porch overlooking the pool, striking a balance between indoor and outdoor living.

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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

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