Luxury Homes Continue To Jump In Sales And Price Growth

Australia’s major cities continue to see robust growth in the luxury residential market, according to a report from Knight Frank released Tuesday.

There were 1,971 prime sales—the top 5% of homes in a market—recorded in the third quarter of 2021, a 119% rise compared to the same time in 2020, according to data from the estate agency. The sales number is the second-highest on record.

Australia’s Gold Coast, an area south of Brisbane on the country’s east coast, saw the biggest spike in sales in the third quarter, up 156% annually, followed by Brisbane itself, where sales jumped 135%, according to the report.

In addition, the average number of days a prime property stayed on the market in Australia was 105 in the third quarter, down from 114 days during the second quarter.

Meanwhile, prices for luxury properties across the country rose 9.1% year over year in the third quarter, the figures show. Quarter over quarter, prime prices ticked up 1.5%.

“Australia’s prime annual growth was led by Sydney (10.7%), Gold Coast (10.5%) and Perth (10.4%),” according to the report. “Brisbane followed (8.4%), then Melbourne (6.5%).”

Prices are expected to have grown as much as 11% by the end of 2021, and another 8% in 2022, the report said.

Rents have also increased across Australia, and the country saw a 5.2% year-over-year increase in rates in the third quarter, the data showed. Perth saw the largest growth, registering an annual jump of 11.8% between June and September.

Former Aussie Rules player Jeff Chapman’s dream beach house, which has had its praises sung by The Independent in the UK, is back on the market with a revised – and more competitive – price guide.

The contemporary pavilion-style residence Alinghi, created by celebrated architect James Grose, was voted one of the top five beach houses in the world by the British newspaper and has been operating as a luxury holiday rental earning up to $7000 a week.

The one-time Melbourne forward and founder of Bennelong Funds Management, and his wife Carena Shankar, listed the five-bedroom getaway back in mid 2024 with hopes of about $8 million. The prestige property is now back with new agent Pauline Karatau of Ray White New Farm and the amended guide now sits at $6.5 million.

As part of the private 5ha Rocky Point estate, at the southern end of the Great Barrier Reef overlooking Honeymoon Bay, the glamorous holiday home shares not only a private beach with just four other neighbours, but also a 30m saltwater pool, a full-size tennis court, a beach cabana with barbecue facilities and a full-time live-in caretaker on site.

Alinghi seemingly floats against the cliffs of North Queensland’s Capricorn Coast consisting of two pavilions and shallow reflections pools for ultimate serenity. Residence number 5 is home to a two-storey main pavilion with large living spaces spilling onto semi-enclosed areas framing enviable ocean views. Upstairs there are four bedrooms, including two with ensuites. The second pavilion is a private retreat housing the main bedroom suite with an additional study or wellness space.

Crafted by Grose to leave minimal impact on its natural environment, the house features external materials sourced locally including rich cedar, plus glass and Travertine stone specifically chosen to blend and weather with the landscape over time.

The low maintenance property is also relatively self sufficient thanks to water tanks collecting the region’s abundant rainfall. Despite it’s northern Queensland address air-conditioning is an after-thought due to the clever cross-ventilation design principles and deliberate orientation capturing ocean breezes that flow through the large footprint.

Alinghi’s external lightning has also been carefully designed to be low voltage with minimum impact upon the local wildlife including wallabies, echidnas, goannas, turtles and even a diverse range of native birds. From the private terraces throughout winter, homeowners can also track the migratory whales.

Alinghi is a 90-minute drive away from Agnes Waters and its sister town of 1770 (also known as Seventeen Seventy). It is approximately 120kms from Bundaberg, which is home to a well-serviced domestic airport.

Alinghi is listed for sale with a price guide of $6.5 million via Ray White New Farm agent Pauline Karatau on 0418 733 773.

Luxury Homes Continue To Jump In Sales And Price Growth

Prices rose 9.1% across the country in the third quarter of 2021, with Sydney registering the biggest gains.