WATERFRONT ICON RETURNS TO MARKET
A landmark Beaconsfield Parade residence blending heritage elegance with bold contemporary design has listed for the first time in more than two decades, with price hopes of $14 million to $15 million.
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Anyone familiar with Port Phillip Bay knows the eclectic mix of prime properties along the popular waterfront strip of Beaconsfield Parade. Now one of the coveted residences has come to market for the first time in more than 20 years.
Carnane is an address with the best of both worlds – art deco charm blended with contemporary sophistication.
Originally built around 1915 as four smaller flats, the property has been transformed behind its period facade to reveal a modern designer interior crafted for family living.
Reimagined by Buro Architects and interiors, the five-bedroom, four-bathroom house was shortlisted back in 2008 for an Australian Interior Design Award and subsequently appeared in multiple design magazines.
Last sold in 2005 for $2.32 million, Carnane is now listed with a price guide of $14 million to $15 million. The expressions of interest campaign, via Ben Manolitsas, Melissa Turner, and Thomas Wilson of Marshall White Port Phillip, closes on April 9.
What anchors the historic bayside home in the 21st century is the moody, cantilevered steel staircase set just inside the entry foyer. Sculptural in every sense of the word, the “floating” stairs make a bold statement at first sight and even discreetly conceal a refrigerated wine cellar and bar.
The long 580 sq m footprint and three-story layout allow for a convenient separation between entertainment and accommodation zones. In the shell of the original Art Deco facade, there are two sitting areas framed by deep bay windows.
Beyond the iconic stairs, a gallery walkway leads through to the dining room and show-stopping kitchen. A design statement in itself, the sleek black kitchen has Gaggenau appliances, hidden storage, a grand island bench, a casual meals area, and a vast butler’s pantry with a second entry to cater for any sized soirée.
This ground level has marble floors, Venetian-plastered walls, and full-height glazing, as well as the mammoth rear extension. The stylish addition dishes up another large living room, warmed by an ethanol fireplace, and enormous timber-framed sliding doors that open onto the private north-facing pool deck and lush landscaped gardens.
An internal courtyard offers homeowners a bonus green space, separating the formal and informal dining zones.
Upstairs, there is yet another living area and an adjoining study that mirror the bay windows below and capture sweeping views of the bay. There are two bedrooms with built-ins sharing a palatial family bathroom, as well as the main bedroom with a walk-in Polyform wardrobe, extra built-ins, motorised blinds, and an ensuite with a shower.
One more floor up, a top-level guest or teenager retreat with a bathroom, kitchenette, living area, and a huge water-facing terrace. Additionally, the triple garage, accessed via Ashworth St, has its own fully independent studio.
The Beaconsfield Pde home also has spotted gum floors, a video intercom, an alarm, an integrated sound system, abundant storage, and zoned heating and cooling, all within walking distance of Middle Park village, Albert Park Lake, and city-bound transport.
Carnane at 245 Beaconsfield Pde, Middle Park is listed with a price guide of $14 million to $15 million through Marshall White Port Phillip via an expressions of interest campaign closing on April 9.
Victorian auction buyers will soon receive a piece of information that has traditionally been withheld until bidding reaches it: the vendor’s reserve price. Under new property-sale and underquoting laws, agents must publish the agreed reserve at least seven days before an auction or fixed-date sale. Most changes begin on 1 October 2026 and apply to …
Continue reading “Victoria’s New Auction Rules Will Force Reserve Prices Into the Open”
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New detached-home sales fell 10% nationally in August, led by a 27% decline in Victoria, raising concerns about construction starts in 2027.
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Australia’s hoped-for recovery in housing construction is losing momentum before it has had time to close the national supply gap.
Sales of new detached homes fell 10 per cent nationally in August, according to the Housing Industry Association’s survey of major volume builders across the five largest mainland states. It was the fourth consecutive monthly decline.
The fall was broad rather than isolated. Victoria recorded the largest retreat, down 27 per cent, followed by Queensland at 20.2 per cent, New South Wales at 17.5 per cent, South Australia at 10.8 per cent and Western Australia at 8.2 per cent.
Across the three months to August, sales were 19.3 per cent below the preceding three-month period and 7.7 per cent lower than the equivalent period a year earlier.
New-home sales matter beyond the immediate fortunes of volume builders. They are an early indicator of future starts: buyers sign contracts, finance is finalised, approvals are secured and construction follows months later. A sustained sales decline during the middle of 2026 is therefore likely to weaken commencements during 2027.
The slowdown reflects the collision of several pressures. Households have absorbed multiple interest-rate rises, reducing borrowing capacity and increasing the repayment cost attached to a new build. Established-home prices have softened in some markets, weakening the relative appeal of waiting through a construction period. Builders continue to face elevated labour and material costs.
The Reserve Bank’s August analysis showed new-dwelling construction prices increased 1.8 per cent during the June quarter and 5.3 per cent over the year. It attributed part of the pressure to oil-derived building products and other conflict-related costs.
Policy uncertainty can also cause buyers and investors to defer large commitments. But the precise contribution of any single tax or regulatory change is difficult to isolate from rates, confidence, land prices and construction costs. The HIA survey should be read as an indicator from large builders rather than a complete count of every dwelling sale.
The figures complicate progress towards the Housing Accord target of 1.2 million homes. The National Housing Supply and Affordability Council reported 308,000 completions since the Accord began and 244,000 dwellings under construction in the March quarter. Approvals and commencements had improved, but falling sales risk undermining the next wave.
For developers and governments, the warning is that planning approvals alone do not create homes. Projects need finance, viable construction pricing and buyers able to settle. If one part fails, approved supply can remain on paper.
Data box
National August new-home sales: Down 10 per cent
Three months to August: Down 19.3 per cent from the preceding three months
Year-on-year three-month comparison: Down 7.7 per cent
Victoria: Down 27 per cent
Queensland: Down 20.2 per cent
New South Wales: Down 17.5 per cent
South Australia: Down 10.8 per cent
Western Australia: Down 8.2 per cent
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