Sprawling estate in Geelong has long history
A sprawling estate in Geelong surrounded by picturesque landscaped grounds, Raith has a long history as the home to a local merchant, a former mayor and a popular AFL star.
2 min
A sprawling estate in Geelong surrounded by picturesque landscaped grounds, Raith has a long history as the home to a local merchant, a former mayor and a popular AFL star.
Listed via an expressions of interest campaign with McGrath’s David Cortous, the palatial Victorian-era residence on 6434sq m has come to market with a price guide of between $8.5 million and $9.3 million. If it hits the mark, the sprawling property promises to break its own 2021 price record of $6.3m and hold the title of Geelong’s most expensive home.
Raith, located on Raith Terrace in the heart of scenic Newtown, was also formerly known as Malboona and Atlantis Heights during its 160-year lifespan. Erected in stages, the original modest dwelling was designed by Snell and Prowse Architects in 1864 for Frederic Bauer, an importer and merchant.
By 1881, Geelong architect Joseph Watt designed extensive alterations and additions including an encircling iron veranda for JH Grey, a solicitor at Taylor, Buckland & Gates and nine-time Mayor of Newtown and Chilwell. The colourful character later left Geelong and was eventually arrested in Fiji on a charge of misappropriating the funds of his clients. He was eventually brought back to Sydney and faced charges in Melbourne, according to a 1901 article in the Geelong Advertiser.
Decades later, footballer Bob “Woofa” Davis – affectionately known as The Geelong Flier – lived at Raith. The Geelong Cats player represented the team in the 1940s and 1950s and then went on to coach the Cats in the 1950s and 1960s.
Fast forward to the 21st century, and architect David McDonald curated a modern day extension with sympathetic renovations and a commitment to sustainable design principles.
Today the five-bedroom, five-bathroom homestead with a separate three-bedroom cottage is an idyllic representation of a Victorian estate, blending country elegance with contemporary class.
When it comes to great first impressions, Raith takes the architectural cake. Upon entry there is a grand cathedral ceiling which sets the scene for the remainder of the stately home. All the hallmarks of yesteryear have been carefully retained with stained glass windows, ornate fireplaces and iron lacework.
With such a significant footprint, the house has multiple living zones for either intimate family living or large-scale entertaining.
At centre stage, the open-plan living and dining space houses a state-of-the-art kitchen with stone surfaces, a vast eat-at island, and a big butler’s pantry.
A substantial entertainer’s pavilion opens out to manicured gardens with an additional glasshouse-style wellness zone that is home to a heated 25m swimming pool, plus a sauna, spa, and gym.
In the main bedroom there is a large walk-in wardrobe as well as a luxury ensuite.
A separate wing means children have their own space, complete with a games room and three bedrooms, each featuring walk-in wardrobes and ensuites.
Added extras include a newly renovated office, a music room or fifth bedroom, and an expansive underground wine cellar, hydronic heating and air conditioning throughout, an integrated multi-room Sonos sound system, video surveillance, two four-car garages plus two large storage sheds.
For visitors, or an additional income stream, the property also has a self-contained three bedroom guest house with private veranda.
Raith Terrace is close to Fyansford Common, Queens Park, Elderslie Reserve and local schools.
Raith at 2a Raith Terrace, Newtown is listed with McGrath Geelong agent David Cortous. The price guide is $8.5 million to $9.3 million via an expressions of interest campaign closing on July 21.
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Australia’s housing affordability crisis is being fuelled by chronic undersupply, planning delays and rising development costs, as politicians continue to focus on the wrong solutions.
3 min
Australia’s housing crisis will not be solved by first-home buyer incentives or tax changes alone, with leading property figures warning governments must tackle supply constraints if affordability is to improve.
Speaking at the Kanebridge Quarterly Property Leadership Summit in Sydney last week, expert project marketing specialist Sam Elbanna, property investor and fund manager Paul Miron and property consultant Karla McNeice said that a lack of housing supply remained the central issue facing the market.
Elbanna, Director of CPM Realty with more than 30 years’ experience in project sales, argued that successive governments had focused too heavily on stimulating demand rather than addressing the barriers preventing new housing from being delivered.
“The misconception is that politicians think the way to solve the housing crisis is to drive demand,” he said.
“The reality is that’s not the way. This is a supply-side problem, and it needs to be solved on the supply side.”
Drawing on his experience in project sales, Elbanna said policies designed to help first-home buyers often had unintended consequences, pointing to previous grants that ultimately flowed through to higher property prices.
Instead, he said developers were facing increasing red tape, approval delays and rising costs, which were discouraging new housing supply.
“In the absence of stock, demand exceeds supply,” he said.
Miron, a Co-Founder and Fund Manager of Msquared Capital, said the housing debate had become overly focused on tax policy while overlooking broader structural issues.
He argued that affordability challenges stemmed from a combination of factors, including planning constraints, supply shortages, migration levels and interest rates.
“No-one can be 100 per cent certain on the real reason for property prices is going up,” he said.
“The reason why property prices are higher is a combination of interest rates, lack of supply, migration, vacancy rates and maybe taxes play a role.”
Miron was critical of recent federal housing policy changes, warning they could reduce the number of new homes being built and further constrain supply that was even highlighted in the budget.
He also highlighted the importance of the property sector to the broader economy, noting that residential real estate and related industries employed more than one million Australians.
McNeice, who advises developers on sales strategy and market intelligence, said understanding buyers had become increasingly important as affordability pressures intensified.
While affordability remained a major consideration, she said today’s buyers were focused on value rather than simply price.
“People are looking for value for money,” she said.
She said buyers were increasingly evaluating factors such as transport connections, walkability, nearby amenities and flexible living spaces that could accommodate changing family needs.
“What infrastructure is going on? Can I walk to the shops? Can I meet people at the local cafe?” she said.
The panel also discussed the mounting pressures facing developers, with Elbanna arguing that many projects become financially unviable from the moment a site is purchased.
“The viability of a development happens at the moment the site is bought,” he said.
He said rising construction costs, higher interest rates and overly optimistic feasibility assumptions had left some developers exposed as market conditions changed.
While acknowledging the growing number of smaller and first-time developers entering the market, Elbanna said property development required expertise across finance, construction, marketing and legal disciplines.
“It is actually a business that requires a level of expertise,” he said.
Looking ahead, the panel agreed opportunities remained in the market despite current challenges.
Miron said property should continue to be viewed as a long-term investment and cautioned against trying to time short-term market movements.
McNeice said success would increasingly depend on identifying projects that genuinely met changing buyer expectations.
Elbanna said affordable housing remained achievable, but developers needed to deliver more than just homes.
“We can provide affordable housing in this country,” he said.
“But we’ve got to wrap that affordable housing with the things that people want.”
As Australia’s housing affordability debate intensifies, the panellists agreed on one point: without a meaningful increase in housing supply, demand-side measures alone are unlikely to solve the nation’s property challenges.
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