La Gemme A Southern Highlands Showpiece For Sale
A European-inspired country estate reimagined with couture-level detail, La Gemme sets a new benchmark for Southern Highlands luxury.
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La Gemme Estate, a grand getaway meticulously reimagined by The Property Stylist founder Kyara Larcombe, has debuted on the coveted Southern Highlands property market with a price guide of $30 million.
Kyara and her husband Clayton, founder of PAC Capital and Pacific Partners, bought the Bowral estate in 2021 and collectively set about curating a stately country compound that would feel at home alongside the heritage chateaux of Europe.
The finance and design duo purchased the 40ha property as a luxury weekender, then in 2024 held their wedding (after eloping in Lake Como, Italy) at the 40ha estate – a glamorous event later covered in Vogue magazine.
Deborah Cullen and Richard Royle of Cullen & Royle are marketing La Gemme through an expressions-of-interest campaign, closing on March 10 at 5pm.
“It is an absolute divine experience to wander around this estate. The detailing and finishes are on another level,” Ms Cullen said.
“Excitingly, we have had some very well-known families reach out to learn more.”
Over four years, Kyara – whose team has styled private homes worth as much as $100 million and iconic venues such as the Sydney Opera House – exercised her design prowess to bring the dream project to life. Alongside Clayton, the globetrotters travelled throughout Europe to gather inspiration and acquire unique antique pieces to furnish La Gemme.
Rather than a renovation, Ms Cullen said the finished result is a custom-made mansion with all the must-haves of the 21st Century.
The brand-new estate was designed for offshore investors and high-net-worth homebuyers, with a focus on architectural excellence and complete privacy.
La Gemme Estate can house up to 24 guests in the five-bedroom main residence and a separate two-bedroom guest house.
In the primary house, each bedroom has its own ensuite, and there is an additional attic suite. There are formal lounge and dining spaces, a study, a library and lift access.
Designer elements include a bespoke marble kitchen with two large island benches, a Lacanche stove, butler’s pantry with integrated appliances, reclaimed French oak floors retrieved from a historic church in Normandy, Joseph Gilles hardware, and 18th and 19th-century French chandeliers and mirrors.
Modern features include a climate-controlled wine cellar, underfloor heating, ducted air conditioning, a Lutron home automation system and security, and an integrated Bose sound system.
La Gemme Estate is also home to a 14m heated swimming pool and spa with a cabana and limestone-paved courtyard terrace, an outdoor fireplace and a wellness centre with a fully equipped gym and sauna.
Gardens designed by Richard Haigh feature a long driveway lined with mature plane trees, an abundance of established Australian natives, and a koi lake. Additionally, DA approval has been granted for a luxury stables complex and covered arena, ideal for equestrian enthusiasts.
The property, which is about 120 kms from Sydney and 185 km from Canberra, is accessed via two gated entrances; either from Range Rd, Mittagong or Kimberley Dr, Bowral.
La Gemme at 31 Kimberley Dr, Bowral is listed with Cullen Royle via an expressions of interest campaign closing on March 10 at 5 pm.
The 1860s Darlinghurst mansion Stoneleigh could become Sydney’s most expensive home ever sold under the hammer when it goes to auction. Clint Ballard is giving buyers a $28 million guide for the heritage-listed mansion on Darley Street, opposite Iona, the former home of Hollywood royalty Baz Luhrmann. Stoneleigh is being offered for sale for the …
Set on one of the city’s last absolute riverfront sites, The Riversdale by Mosaic combines irreplaceable waterfront ownership with one of Brisbane’s most significant residential opportunities.
The US housing market remains under pressure as high mortgage rates continue to weigh on affordability and demand. Industry leaders say 2026 has been one of the toughest years for home sales, with slower price growth, weaker mortgage activity, and fewer buyers entering the market. However, experts say reduced competition and more price cuts could create opportunities for well-prepared buyers.
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The typically busy spring season for the housing market was a dud, and the summer isn’t looking much brighter.
Housing services companies like Zillow Group and Rocket RKT +3.78% were loud and clear last week on earnings calls: Rocket CEO Varun Krishna called the quarter through June “one of the toughest spring housing markets in years.”
Jeremy Hofmann, Zillow’s chief financial officer, said on a conference call that the company predicted earlier this year that the market for mortgages would be flat. “We actually now think it’s going to be down low-to-mid-single digits,” he said.
The rest of 2026 will remain challenging for mortgage origination volume, says KBW analyst Bose George. The question now is what happens in 2027. “If mortgage rates remain [around] 6.75%, I think that’s going to be challenging even for next year,” he says.
But what’s bad news for mortgage companies could be a positive for bargain hunters. Buyers can expect prices to grow more slowly—or mildly decline—with less competition as long as mortgage rates remain unpredictable.
Mortgage rates at the beginning of the year were solidly below year-ago levels, notes Zillow senior economist Kara Ng. But they surpassed last year’s levels recently, she adds, referencing Freddie Mac’s weekly survey of 30-year fixed mortgage rates. Last week’s reading, at 6.69%, was higher than year-ago levels for the first time in 2026.
“From the affordability point of view, it’s going to get more challenging in the second half of the year,” she says. “And when affordability gets more challenging, that impacts sales and home price appreciation.”
Mortgage application data tracked by the Mortgage Bankers Association has cooled since the beginning of the year. The trade group expects that the number of mortgage originations in the remaining two quarters will lag behind last year’s levels, after exceeding 2025 levels in the first half.
Rocket’s early-stage data—which the company told Barron’s it derives from its brokerage Redfin, demand for its mortgage products, and signs in its servicing portfolio that a homeowner is preparing to refinance or move—“leads us to expect the third quarter mortgage market to be smaller than the second,” Chief Financial Officer Brian Brown, said on the company’s call. He added that such an occurrence is “something the industry has not seen since 2022.”
Prices will be about flat nationally, Ng says. Zillow’s most recent forecast, which shows how values are expected to change in the year ending June 2027, show them dropping in roughly half of the 100 largest U.S. metros for which data is available.
Buyers aren’t rushing in at a time when mortgage costs are rising and unpredictable. But those with the right combination of patience and cash could stand to benefit. “If you are financially qualified to buy a starter home, you are facing less competition and you’re more likely to get a price cut,” Ng says.
The grand harbourside residence combines sweeping Sydney Heads views, resort-style entertaining and refined designer finishes with a reported $36 million price guide.
Set on one of the city’s last absolute riverfront sites, The Riversdale by Mosaic combines irreplaceable waterfront ownership with one of Brisbane’s most significant residential opportunities.
