Prestige Property: 10-12 Rowland Street, Kew, VIC

Built in the tradition of palatial European architecture comes this remarkable villa and its breathtaking dimensions, craftsmanship and drama.

The 5-bedroom, 4-bathroom, 4-car garage manse is located on 1979sqm of land in Melbourne’s sought-after suburb of Kew.

Here, the magnificent pile is finished with the finest imported details elevating the home to a new level of luxury.

Stepping inside the home one is immediately awestruck by the cathedral scale of the reception hall and its black and white marble floors, hand-crafted plasterwork and soaring skylit dome.

French silk wall coverings and oak parquetry floors distinguish the formal dining room – complete with a marble gas fire – while the refined executive office and fitted library feature bespoke timber panelling.

Often the centrepiece of the home, the kitchen is an entertainer’s dream featuring swathes of Calacatta marble, stainless steel work island, Ilve ovens, integrated Liebherr fridge/freezer, and a butler’s pantry with integrated Miele coffee machine at one’s disposal.

Here, bi-fold doors open the living area to an expansive undercover alfresco entertaining terrace with a barbecue kitchen, pizza oven, heaters and all-weather screens for use all year round.

It’s an opportunity to soak in the beauty of the Paul Bangay designed gardens, replete with a stunning water feature.

In the opposite wing and also leading out to the garden is a gas-heated indoor pool and spa with sauna, steam room, bathroom and gym.

A staircase leads to the main bedroom suite complete with an opulent dressing room and marble adorned ensuite.

Two additional bedrooms with walk-in robes, desks and stylish ensuites are further accompanied by two bedrooms with built-in robes and a shared bathroom.

Elsewhere, the fully fitted home theatre boasts French silk wall coverings and is complemented by the full-sized billiards room served by a bar-room complete with a wine fridge for entertaining. The basement also sees a cellar.

The home presents a heady amalgamation of old-world European charm, with grand fixtures such as Venetian chandeliers paired with CCTV, video intercom, C-bus lighting, zoned heating and more.

The listing is with Marshall White Stonnington’s Nicole French (+61 417 571 505) and has a price guide of $17 – 18.5 million; marshallwhite.com

The Australian housing market is rapidly evolving, with new research revealing changing activity in regional and city areas.

The latest Regional Movers Index from the Commonwealth Bank showed the exodus from Australian cities to the regions is significantly exceeding pre-COVID movements, sitting at 19.8 percent higher. Even more revealing is data which showed relocations are 1.8 percent up on the average recorded during the height of the lockdowns. At the same time, people in regional areas are staying put.

The report is a partnership between the Commonwealth Bank and the Regional Australian Institute. RAI CEO Liz Ritchie said the regions have become the permanent home of choice for more Australians.

“The inter-regional migration index —which tracks regional to regional relocations — has fallen by 5.1 percent, suggesting that more regional residents are content to stay where they are. With the continuing strong jobs market across regional Australia, increasing city property prices and ongoing cost-of-living pressures, it’s no surprise the regions remain desirable,” Ms Ritchie said.

She said this had significant implications for planners, with a better understanding of infrastructure needs required by planners.

“Regional Australia is truly the nation’s new frontier. There are so many opportunities in our regional communities, but likewise we know there are challenges. Housing for example remains a key ongoing concern in many communities,” she said. “Regional Australia is growing and for that to continue we need adequate foundations. The time to lay them is now.”

Among the areas to benefit from this shift over the past quarter was the Hunter Valley city of Maitland in NSW which saw a 3.4 percent increase in net migration from the cities and other regional areas. Long seen as the less desirable locale in the wine growing region, Maitland has attracted more buyers looking for an affordable home with lifestyle benefits. CBA Executive General Manager Regional and Agribusiness Banking Paul Fowler said it was an area on the rise.

“There is significant development happening around Maitland, with extensive land releases for residential, industrial, commercial and retail fuelling strong employment and construction industry opportunities,” Mr Fowler said.

“Maitland is also set to benefit from major investments in the area including the nearby Newcastle Airport which will welcome international flights from 2025, further enhancing the region’s accessibility and economic profile.”

And while Melbourne property prices continue to experience a lull, it’s a different story outside the capital, with regions closer to main city centres performing particularly well.

“A move to regional Victoria remains on trend among those relocating, with the state’s regional areas experiencing the largest surge in popularity in the 12-month period to September 2024, with its share of net regional inflows rising from 21 percent to 30 percent,” Mt Fowler said. “Trending scenic LGAs like Queenscliffe on the coast, as well as Moira, Wangaratta and Strathbogie located further north, offer attractive and more affordable lifestyle opportunities for many Australians.

“With more corporate employers setting up or relocating to Geelong, Queenscliffe’s proximity to Greater Geelong and the Melbourne CBD means more regional Australians can enjoy diverse employment opportunities while living in a beautiful location with enhanced lifestyle opportunities.”

Prestige Property: 10-12 Rowland Street, Kew, VIC

A grand way of life in Melbourne’s inner east.

Buyers are moving there in their droves while existing residents know they’re on a good thing