Everyone’s Over ‘Quiet Luxury.’ Here’s What’s Next
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,772,586 (-1.37%)       Melbourne $1,067,610 (-0.75%)       Brisbane $1,252,235 (+0.21%)       Adelaide $1,096,871 (-0.03%)       Perth $1,115,947 (-0.62%)       Hobart $856,823 (-1.05%)       Darwin $869,933 (+2.90%)       Canberra $1,023,542 (-3.85%)       National Capitals $1,196,722 (-0.89%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $816,280 (-0.49%)       Melbourne $558,306 (+0.91%)       Brisbane $786,172 (-1.28%)       Adelaide $614,935 (+3.21%)       Perth $678,721 (-0.64%)       Hobart $564,040 (-3.02%)       Darwin $474,639 (-4.37%)       Canberra $507,558 (+1.52%)       National Capitals $647,102 (-0.51%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 14,153 (+610)       Melbourne 17,219 (+534)       Brisbane 7,746 (+200)       Adelaide 2,819 (+82)       Perth 5,967 (+13)       Hobart 842 (-5)       Darwin 139 (+9)       Canberra 1,157 (-62)       National Capitals 50,042 (+1,381)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 9,300 (+142)       Melbourne 6,908 (-18)       Brisbane 1,589 (+130)       Adelaide 422 (+9)       Perth 1,281 (+48)       Hobart 169 (+4)       Darwin 192 (+18)       Canberra 1,211 (+10)       National Capitals 21,072 (+343)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $850 ($0)       Melbourne $600 ($0)       Brisbane $700 ($0)       Adelaide $650 ($0)       Perth $750 ($0)       Hobart $650 (+$8)       Darwin $820 (+$100)       Canberra $750 (+$10)       National Capitals $730 (+$16)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 (-$20)       Melbourne $580 (-$5)       Brisbane $650 ($0)       Adelaide $550 ($0)       Perth $705 (+$5)       Hobart $520 ($0)       Darwin $640 ($0)       Canberra $590 (-$5)       National Capitals $641 (-$4)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,479 (+95)       Melbourne 6,899 (+123)       Brisbane 3,695 (+69)       Adelaide 1,393 (-60)       Perth 2,293 (+24)       Hobart 205 (-19)       Darwin 43 (0)       Canberra 400 (-26)       National Capitals 20,407 (+206)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 8,584 (+122)       Melbourne 4,561 (-54)       Brisbane 1,909 (+21)       Adelaide 421 (-9)       Perth 664 (+5)       Hobart 73 (-6)       Darwin 88 (+14)       Canberra 687 (+37)       National Capitals 16,987 (+130)                HOUSE ANNUAL GROSS YIELDS AND TREND       Sydney 2.49% (↑)      Melbourne 2.92% (↑)        Brisbane 2.91% (↓)     Adelaide 3.08% (↑)      Perth 3.49% (↑)      Hobart 3.94% (↑)      Darwin 4.90% (↑)      Canberra 3.81% (↑)      National Capitals 3.17% (↑)             UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.10% (↓)       Melbourne 5.40% (↓)     Brisbane 4.30% (↑)        Adelaide 4.65% (↓)     Perth 5.40% (↑)      Hobart 4.79% (↑)      Darwin 7.01% (↑)        Canberra 6.04% (↓)       National Capitals 5.15% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 1.5% (↑)      Brisbane 1.2% (↑)      Adelaide 1.2% (↑)      Perth 1.0% (↑)        Hobart 0.5% (↓)       Darwin 0.7% (↓)     Canberra 1.6% (↑)      National Capitals $1.1% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 2.4% (↑)      Brisbane 1.5% (↑)      Adelaide 0.8% (↑)      Perth 0.9% (↑)      Hobart 1.2% (↑)        Darwin 1.4% (↓)     Canberra 2.7% (↑)      National Capitals $1.5% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 33.9 (↑)      Melbourne 33.2 (↑)      Brisbane 31.3 (↑)      Adelaide 26.9 (↑)      Perth 37.6 (↑)        Hobart 27.5 (↓)       Darwin 20.8 (↓)     Canberra 33.4 (↑)        National Capitals 30.6 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND       Sydney 32.4 (↑)      Melbourne 31.2 (↑)        Brisbane 28.7 (↓)     Adelaide 25.0 (↑)      Perth 37.2 (↑)      Hobart 33.6 (↑)      Darwin 32.9 (↑)      Canberra 40.5 (↑)      National Capitals 32.7 (↑)            
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Everyone’s Over ‘Quiet Luxury.’ Here’s What’s Next

Cosy silhouettes and sumptuous fabrics were throughlines of the fashion collections shown last week in Milan

By RORY SATRAN
Tue, Feb 27, 2024 8:32amGrey Clock 3 min

“Quiet luxury” has become a bit of a dirty phrase in Milan. To some at the Italian brands that embody the term , it’s reductive—an overly TikTok-ified way of describing classic, refined clothing. Many fashion industry people roll their eyes when it comes up.

Brunello Cucinelli , one of the kings of natural textiles, prefers the term “gentle luxury.” At his fall presentation in Milan this past week, the (extremely expensive) clothing at which he excels looked especially touchable. Cashmere sweatsuits were layered with blanket-like scarves and silky suiting hung in loose pleats. Even an evening look, composed of a black sweater tucked into a feathered skirt, appeared comfy. Holding a pillowy bag, one Brunello disciple called it “accogliente”—Italian for “cozy.”

One step beyond coziness is protection, and there was plenty of that in Milan, too. Chalk it up to an uncertain luxury market , the roiling geopolitical climate or global warming, but using clothing as a sanctuary seemed to be on many designers’ minds. For some, like the excellent Brioni La Donna and Loro Piana collections, that means impeccable tailoring and forever-worthy double-breasted coats. Others, like Luke and Lucie Meier at Jil Sander, took the cocooning more literally, making succulent, quilted floor-length capes.

Not everyone is swaddling themselves in shearling. Architect Bianca Censori, who joined her companion, the rapper Ye, at the Marni show, wore a mere scrap of leather that failed to cover her buttocks among other body parts. No protection needed—except her bodyguard.

The Look of Love at Prada

Miuccia Prada and Raf Simons, the co-creative directors of Prada, are on quite a roll. If you were feeling hyperbolic, you might even say that they’re making fashion history. The duo’s fall collection started with thinking about love, explained Simons backstage, but “all the elements of love,” including loving your home, or even loving your sheets. There’s that theme of comfort again.

That manifested in a romance for different eras of fashion, remixed: A Jackie O. linen shift dress shot through with a streak of shearling. A leather bomber jacket embellished with “1913,” the year Prada was founded. A twin set in shocking red and ultraviolet. High-tech nylon jackets in midcentury couture shapes.

“There is no way to think about the future unless you have a good understanding of the past,” said Simons.

Everyday Allure at Bottega Veneta

In less than four years, Matthieu Blazy has completely renewed Bottega Veneta, making it a cult spot for creative types that want unique clothing and accessories with plenty of craftsmanship. Without succumbing to naked dresses and other revealing gimmicks, the brand appeals to a broad demographic, as shown by front-row neighbours Julianne Moore, 63, and A$AP Rocky, 35.

The fall collection, Blazy said backstage, was a “celebration of the everyday.” He found himself thinking about the allure of everyday clothing on his nightly dog walks. This meant recognisable pieces like peacoats, skirts and sweaters, reduced to their essential essence but rendered fabulous through textile innovation and fabrication. A simple yellow evening dress had a shirred-fabric fraying (not unlike recent work by Phoebe Philo ) and a long column skirt boasted leather plumes.

Blazy wanted to express resilience, he said, like flowers blooming in the desert. Fittingly, he designed giant Murano glass cactus flowers to decorate the show space.

Womblike Sumptuousness at Jil Sander

Real life crept into the fashion bubble on the day of Jil Sander’s show, when guests were confronted with a triple-whammy of rain, traffic and multiple public protests that closed the streets. Supermodel Mariacarla Boscono, like several models and editors, had a harrowing trip from Dolce & Gabbana to Jil Sander, and was swept right into hair and makeup and then onto the runway. Wearing the first look, a cocoon-like rounded red suit, Boscono was worth the wait.

Jil Sander put forward an extensive 68-look collection chock-full of satisfyingly sumptuous pieces. Chunky knitwear was sheathed in fine netting, tailored pieces were lined in silky quilting. Coats in deer leather and Himalayan goat fur looked like outerwear for an Icelandic wedding.

Androgynous Realism at Tod’s 

At conservative Italian stalwart Tod’s, Matteo Tamburini executed an impressive debut. Upon arriving from Bottega Veneta in December, the first thing Tamburini discussed with Tod’s group boss Diego Della Valle was the need to create “desirable objects.” “You don’t want to have a big fashion show and then find nothing in the store,” said Tamburini after the show.

So in just a few short months, Tamburini was able to create a tightly edited women’s collection full of androgynous separates and light, appealing accessories. Stylist Brian Molloy, who’s also worked with The Row and Hermès , worked magic with restraint. One supersoft foldable tote big enough for a laptop had a slit at the top so it could fit under your shoulder—easy stuff that merits a high price tag.



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Former New Hampshire Gov. Chris Sununu delivered a warning to Treasury Secretary Scott Bessent during a recent visit to Washington: Already-high airfares will surge if the war in Iran doesn’t end soon.

Sununu, a Republican who represents some of the biggest airlines as president of the industry group Airlines for America, has for weeks sounded the alarm to Trump administration officials about the economic fallout from high jet fuel prices. The war, Sununu has argued, must come to a close soon, or things will get worse.

Administration officials have gotten the message.

Privately, President Trump’s advisers are increasingly worried that Republicans will pay a political price for the rising fuel costs, according to people familiar with the matter. Many of those advisers are eager to end the war, hoping prices will begin to moderate before November’s midterm elections.

The fallout from the U.S.-Israeli attack in late February has slowed traffic through the Strait of Hormuz, a vital shipping lane, triggering a sharp increase in oil, gasoline and jet-fuel prices.

That means consumers are grappling with high costs ahead of the summer travel season, as they consider vacation plans.

Sixty-three per cent of Americans said they put a great deal or a good amount of blame on Trump for the increase in gas prices, according to a new poll conducted by NPR, PBS and Marist.

More than 8 in 10 Americans said struggles at the gas pump are putting strain on their finances.

Jet-fuel prices roughly doubled in a matter of weeks after the war began, and they have remained high. Airlines have said that will add billions of dollars of additional expenses this year, squeezing profit margins.

U.S. airlines spent more than $5 billion on fuel in March—up 30% from a year earlier, according to government data.

Carriers have been raising ticket prices, hoping to pass the cost along to consumers, and they are culling flights that will no longer make money at higher price levels.

In March, the price of a U.S. domestic round-trip economy ticket rose 21% from a year earlier to $570, according to Airlines Reporting Corp., which tracks travel-agency sales.

So far, airlines have said the higher fares haven’t deterred bookings and they are hoping to recoup more of the fuel-cost increases as the year goes on.

Earlier this week, Trump said the current price of oil is “a very small price to pay for getting rid of a nuclear weapon from people that are really mentally deranged.”

Secretary of State Marco Rubio told reporters that if Iran got a nuclear weapon, the country would have more leverage to keep the strait closed and “make our gas prices like $9 a gallon or $8 a gallon.”

Trump has taken steps in recent days to bring the war to an end. Late Tuesday, the president paused a plan to help guide trapped commercial ships out of the Strait of Hormuz, expressing optimism that a deal could be reached with Iran to end the conflict.

Crude oil prices fell below $100 a barrel on Wednesday, after reports that Iran and the U.S. are working with mediators on a one-page framework to restart negotiations aimed at ending the conflict and opening the strait.

Sununu said Trump administration officials are conscious of the economic fallout from the war: “They get it…and I think that’s why they’re trying to get through the war as fast as they can.”

But he cautioned that it could take months for prices to return to prewar levels.

“Ticket prices won’t go down immediately” after the strait is fully reopened, Sununu said. “You’re looking at elevated ticket prices through the summer and fall because it takes a while for the prices to go down.”

Since the initial U.S.-Israeli attack in late February, Sununu has met in Washington with National Economic Council Director Kevin Hassett, representatives from the Transportation Department and senior White House officials.

A White House official confirmed that Hassett and Sununu have discussed the effect of increased fuel prices on the airline industryThe official said the conversation touched on how the industry can mitigate the impact of high jet fuel prices on consumers.

“The president and his entire energy team anticipated these short-term disruptions to the global energy markets from Operation Epic Fury and had a plan prepared to mitigate these disruptions,” White House spokeswoman Taylor Rogers said, pointing to the administration’s decision to waive a century-old shipping law in a bid to lower the cost of moving oil.

Rogers said the administration is working with industry representatives to “address their concerns, explore potential actions, and inform the president’s policy decisions.”

A Treasury Department spokesman pointed to Bessent’s recent comments on Fox News that the U.S. economy remains strong despite price increases. The spokesman said Treasury officials have met with airline executives, who have reaffirmed strong ticket bookings.

“We’re cognizant that this short-term move up in prices is affecting the American people, but I am also confident, on the other side of this, prices will come down very quickly,” Bessent told Fox News on Monday.

The war has already contributed to one casualty in the industry: Spirit Airlines. Company representatives have said they were forced to close the airline because the sustained surge in jet-fuel prices derailed the company’s plan to emerge from chapter 11 bankruptcy.

The Trump administration and Spirit failed to come to an agreement for the company to receive a financial lifeline of as much as $500 million from the federal government.

Transportation Secretary Sean Duffy has argued that the Iran war wasn’t the cause of Spirit’s demise, pointing to the company’s past financial struggles, as well as the Biden administration’s decision to challenge a merger with JetBlue.

Other budget airlines have also turned to the federal government for help since the U.S.-Israeli attack. A group of budget airlines last month sought $2.5 billion in financial assistance to offset higher fuel costs, and they separately wrote to lawmakers asking for relief from certain ticket taxes.

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