RARE DIAMOND BAY FRONT-ROW HOME HITS MARKET
This Vaucluse duplex is one of only six residences enjoying a never-to-be-built-out position above the Pacific, ahead of its March 19 auction.
2 min
Considered one of Sydney’s coastal gems, Vaucluse is famous for its multimillion-dollar water views. Only a handful of homes, however, have the luxury of an uninterrupted panorama over Diamond Bay Reserve looking directly out to the Pacific Ocean horizon.
The dramatic cliff-top park is a sought-after neighbour and a popular spot among locals, thanks to its breathtaking boardwalk that snakes through the exclusive suburb.
Once home to a dairy depot, the green space was formerly frequented by horse-drawn carts rather than today’s SUVs. It was gazetted to be a public space by the mid-1800s.
Craig Ave is a rare slice of Eastern Suburbs real estate bordering the elevated Diamond Bay parkland, where just half a dozen residences can claim that never-to-be-built-out front row position.
Back in 2015, the original bungalow at number five was replaced with a contemporary pair of residences, allowing for a duo of homeowners to lay claim to the enviable outlook.
Now one of the modern parkside duplexes is back on the market with Alan Fettes and Jack Smith of Ray White Double Bay. Prior to its scheduled March 19 auction, the four-bedroom house has a price guide of $7.25 million to $7.5 million.
On the ground floor, the three-storey property is freestanding to the north and has a spacious, free-flowing living zone that combines a more formal front lounge room with a state-of-the-art gas kitchen featuring induction cooking and a vast eat-at island bench.
A dining area and casual living space spill out via sliding doors to a covered barbecue deck and private lap pool surrounded by established gardens.
Up via an internal lift, the accommodation level houses four bedrooms with built-ins, including two with integrated desks. In the primary suite, there is a palatial ensuite featuring a bidet, bathtub and twin vanities.
This main bedroom also opens onto a full-width balcony, with the ocean outlook primed for picturesque sunrises.
Built with entertaining in mind, the Vaucluse home also has a lower ground-floor breakout space for teenagers or movie nights for the parents. The large rumpus room adjoins a combined bathroom and laundry with loads of additional under-house storage and direct access to the double lockup garage.
Added extras at the Craig Ave home include a fireplace in the family room, tiled living areas, floorboards in the bedrooms, bespoke joinery throughout and ducted air-conditioning.
The Vaucluse duplex is not only sitting opposite a stunning cliff-side reserve, but is within walking distance of Christison Park, Diamond Bay Bowling Club and the Macquarie Lighthouse, with Vaucluse boutiques and eateries just 750 metres away.
Alan Fettes and Jack Smith of Ray White Double Bay will auction 5 Craig Ave, Vaucluse on March 19 at 6pm.
Travellers are swapping traditional sightseeing for immersive experiences, with Africa emerging as a must-visit destination.
Wealthy Aussies are swapping large family homes for high-end apartments, with sales of prestige units tripling over the past decade.
Strong population growth, major infrastructure spending and comparatively affordable property are expected to cement Melbourne’s position as Australia’s most attractive long-term real estate market.
2 min
Melbourne is poised to become Australia’s largest city within the next decade, with strong population growth, infrastructure investment and relative affordability driving long-term property demand.
A new research report from Knight Frank argues the Victorian capital remains one of the country’s most compelling markets for investors, businesses and residents.
The report highlights the city’s rapidly expanding population, diverse economy and major infrastructure pipeline as key factors underpinning future property growth.
Knight Frank Managing Director Victoria, Dominic Long, said Melbourne’s fundamentals continue to position the city strongly for long-term investment.
“Melbourne continues to stand out as one of Australia’s most compelling real estate markets,” he said.
“It is Australia’s strongest long-term growth city with the fastest growing population, the most diversified economy, world-class liveability and the most affordable major market for office, industrial and residential property.”
Population growth driving demand
Melbourne’s population has grown at an average rate of 1.8 per cent per year since 2000, faster than any advanced global economy, according to the research.
In the year to June 2025 alone, the city added about 123,500 residents, the largest annual increase of any Australian capital.
Population growth is expected to remain one of the key drivers of demand across residential and commercial property markets, including housing, offices and logistics space.
The report forecasts Melbourne’s population will overtake Sydney’s by the 2030s, reinforcing its position as the country’s fastest-growing major city.
Office market offering value
Melbourne’s CBD office market is also attracting renewed attention from investors.
Prime office rents remain significantly lower than in competing cities, with CBD office space about 46 per cent cheaper than Sydney and around 13 per cent cheaper than Brisbane.
That relative affordability is expected to drive long-term demand from occupiers and investors seeking value in Australia’s largest office markets.
The city’s office sector is also showing signs of recovery, with effective rents rising in 2025 and demand increasing for high-quality buildings in premium locations.
Industrial market benefiting from scale
Melbourne’s industrial sector continues to expand, supported by strong population growth, e-commerce demand and the scale of the city’s logistics network.
The city already hosts the country’s largest industrial market, with about 34 million square metres of warehousing stock and significant land available for future development.
Industrial rents remain competitive compared with other capitals, while Melbourne’s port handles the largest container volumes in Australia, further supporting demand for logistics space.
Infrastructure pipeline supporting growth
More than $200 billion in transport infrastructure investment between 2014 and 2036 is also expected to reshape the city and support future property values.
Major projects include the Metro Tunnel, the West Gate Tunnel, the North-East Link and the Suburban Rail Loop, which together will improve connectivity across Melbourne and its growth corridors.
Knight Frank’s Head of Research & Consulting, Victoria, Dr Tony McGough, said these investments would play a key role in supporting the city’s economic expansion.
“Melbourne is Australia’s most economically diverse city and has delivered stable growth for more than two decades,” he said.
“With strong population growth, a highly educated workforce and unprecedented infrastructure investment, Melbourne is well placed to remain one of Australia’s most attractive long-term property markets.”
From Tokyo backstreets to quiet coastal towns and off-grid cabins, top executives reveal where they holiday and why stepping away makes the grind worthwhile.
Ophora Tallawong has launched its final release of quality apartments priced under $700,000.
