Queensland Megamansion Set To Fetch Upwards Of $35 Million
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Queensland Megamansion Set To Fetch Upwards Of $35 Million

The sale would set a Queensland record.

By V.L. HENDRICKSON
Mon, Aug 8, 2022 11:32amGrey Clock 2 min

A French manor-inspired megamansion on the Gold Coast hit the market Tuesday, with a guide price of around $35 million. That’s a more than $11 million price jump compared to its last selling price of $23.75 million in March 2021.

Now, the 3437sqm residence—located in Southport, Queensland, about 74km south of Brisbane—could set a record for the Australian state, according to listing agent Rebecca Moffrey from Ray White Burleigh Group. Currently, the record for the priciest sale belongs to a Sunshine Coast home that sold for $32 million last year.

Known as Alston, the six-bedroom, seven-bathroom residence offers views of the Nerang River, the skyline and the Broadwater. It’s also near two popular stretches of sand: Main Beach and Surfers Paradise, according to the listing.

Inside, guests and visitors are greeted by a two-level entrance hall with an imperial staircase and a crystal chandelier.

“The absolute majesty of the home just hits you. You walk in and you’re greeted by this incredible chandelier, and that’s even before you step onto the gorgeous, sun bathed terrace looking back towards the Broadwater,” Ms. Moffrey said in a statement. “The architecture just sweeps you away to the French countryside—you almost forget you’re on the Gold Coast with its stunning beaches just minutes away.”

There’s also a gourmet kitchen with marble bar, a wine room and a walk-in refrigerator, the listing said. Other amenities include a professional-grade wet bar, a study, a two-level library with a spiral staircase, a primary bedroom suite with two terraces and an indoor pool, plus a gym and sauna, the listing said. An elevator services all three levels, and there’s a five-car garage.

Outside, there are several covered terraces for dining and lounging, water features and native plantings. There’s direct access to the water via a sandy beach, and a boat dock and pontoon are included.

The sellers were not available for comment.

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RMIT expert says a conflation of factors is making the property market hard than ever to predict

By Robyn Willis
Thu, Oct 6, 2022 9:52am < 1 min

A leading property academic has described navigating the current Australian housing market ‘like steering a ship through a thick fog while trying to avoid obstacles’.

Lecturer in RMIT’s School of Property Construction and Project Management Dr Woon-Weng Wong said the combination of consecutive interest rate rises aimed at combating high inflation, higher property prices during the pandemic and cost of living pressures such as the end of the fuel excise that occurred this week made it increasingly difficult for those looking to enter or upgrade to find the right path.

“Property prices grew by approximately 25 percent over the pandemic so it’s unsurprising that much of that growth ultimately proved unsustainable and the market is now correcting itself,” Dr Wong says. “Despite the recent softening, the market is still significantly above its long-term trend and there are substantial headwinds in the coming months. Headline inflation is still red hot, and the central bank won’t back down until it reins in these spiralling prices.” 

This should be enough to give anyone considering entering the market pause, he says.

“While falling house prices may seem like an ideal situation for those looking to buy, once the high interest rates, taxes and other expenses are considered, the true costs of owning the property are much higher,” Dr Wong says. 

“People also must consider time lags in the rate hikes, which many are yet to feel to brunt of. It can take anywhere from 6 to 24 months before an initial change in interest rates eventually flows on to the rest of the economy, so current mortgage holders and prospective home buyers need to take this into account.” 

 

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