Rose Bay House: Sydney’s newest waterfront mansion
A $20 million rebuild is set to reshape Rose Bay’s dress circle, with Tribe Studio proposing a sustainable, sculptural mansion to replace the existing trophy home and reclaim its coveted harbour views.
2 min
What happens in one of Sydney’s most affluent suburbs when a neighbour’s trees block your panoramic views of the Harbour? You build a new $20 million house.
That’s the reality in Rose Bay, where there are plans for a knockdown rebuild of the trophy home Indah on the dress circle Bayview Hill Road. That last sold for just over $27 million in 2015 when it was bought by barrister Georgina Black.
Two years ago, Black sought to have four recently planted palm trees on her neighbour’s property removed because they obstructed her view of the Sydney Opera House.
Council rejected the application, so Black took the matter to the Land and Environment Court. They also sided with her neighbour.
Now a new four-level home is planned for the prime 888 sqm block. The documents suggest it will be more in keeping with its location than the existing five-bedroom, glass-swathed mansion.
In its Design Statement submitted to Woollahra Council, Tribe Studio Architects described Rose Bay House as an “ambitious project.” They said they aim to set a high watermark for sustainable and Country-centred design.
Ironically, the report notes that, in a traditional sense, they are “being a good neighbour to the surrounding sites.”
“We are honouring shared views, we are creating landscape buffers, and we have liaised closely with neighbours where possible to secure their support for the proposal,” the report states.
They also say they are driven by being a “good neighbour” to the Harbour.
“In this prominent location, the house is a shared foreshore for everyone using the Harbour. The design reinstates a sandstone, bushy foreshore and reduces the sense of highly reflective, large glass spans that dominate the existing dwelling.”
“We hope to inspire a new generation of luxury that is not reliant on imports and extraction, but rather is inventive, crafted and responsible.”
The elements of the home are categorised for longevity to manage maintenance, upgrades, and overall durability. Permanent elements are designed to last for hundreds of years.
The new home will span four levels. The entry level will feature an open-plan kitchen, living, and dining area opening to gun-barrel views of the Harbour.
Two levels will sit below ground. The lowest level includes a natural pool and a quarry-like, double-height outdoor dining area and undercroft pool zone. Tribe drew inspiration from the Ca’n Terra House by Ensamble Studio in Menorca, Spain, converted in 2020 from an abandoned limestone quarry.
The entire top level will be a dedicated master suite with a dressing room and ensuite. In total, six bedrooms are proposed, along with several home office spaces and lounge areas.
It would be realistic that given the purchase price of the home a decade ago, and a $20 million rebuild, the new trophy residence would become one of the priciest in Rose Bay.
The current Rose Bay record was set earlier this year when a harbourfront home on Tivoli Avenue, with three separate residences on the 1,138 sqm block, sold for a reported $82.5 million.
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Australia’s capital city housing markets have continued to record price growth, although higher interest rates and economic uncertainty are beginning to temper momentum.
3 min
Capital city home prices have continued to rise in April despite higher interest rates and ongoing uncertainty about the outlook for inflation and the global economy.
Growth rates, however, have eased, reflecting the usual subduing effect of the lengthy April holiday month.
The national capital city median house price increased marginally by 0.2% over the April quarter to $1,297,798 compared to the March quarter, according to the latest data from My Housing Market.
Annual national house prices are, however, 10.2% higher and have now increased for 14 consecutive months.
Most capitals reported house price increases over the month, with Brisbane and Perth the top performers, each higher by 1.3%, followed by Hobart and Darwin, both up 1.2%, Adelaide up 0.2%, with Sydney steady. Melbourne prices, however, fell 0.7%, while Canberra prices fell 1.7%.
Most also report strong annual house price growth in excess of 10%, with Perth, Darwin, Brisbane, and Adelaide clearly the highest, up by 25.7%, 21.6%, 20.0% and 14.2% respectively.
National unit prices were also higher in the April quarter than in the March quarter, rising by 0.5% to $728,459, and have now increased by 8.2% compared to the April quarter 2025 result.
Brisbane was the top monthly performer in April, with unit prices rising by 1.7%, followed by Perth up 1.0%, Melbourne and Canberra each up 0.9%, Adelaide up 0.6%, and Hobart up 0.1%. Sydney unit prices were steady over the month; however, Darwin unit prices were down 0.8%.
Similar to houses, Perth, Brisbane, Adelaide and Darwin continue to record the highest annual unit price growth to April 2026, at 30.1%, 27.8%, 12.9% and 11.8%, respectively.
Analysis
Capital city housing markets have generally reported higher home prices in April, although growth rates have eased compared to March.
Easing housing markets reflect the usual dampening effects of the lengthy April holiday month, although higher interest rates and increased uncertainty about the economic outlook have weighed on affordability and confidence.
Robust annual home price growth, however, continues for most capitals with Perth, Darwin, Brisbane, and Adelaide still reporting boomtime results.
Although 2026 is still set to see home price growth generally in most capitals, the rising spectre of further interest rate increases and elevated uncertainty over the outlook for inflation and the economy will continue to dampen affordability and confidence.
Brisbane, Adelaide, Perth and Darwin, however, are again set to lead capital city outcomes for both houses and units, but are unlikely to match the extraordinary 2025 results.
Brisbane, Perth and Adelaide continue to record higher median house prices than Melbourne, with Perth now closing in fast on Brisbane and set to lead all but Sydney.
Underlying drivers will continue to support overall housing market activity, although the outlook for RBA interest rates is more problematic, with inflation set to accelerate and economic activity to decline as a consequence of the recent sharp increase in oil prices.
The economy, however, remains strong, with a steady, still-low jobless rate, falling unemployment, continued robust job growth, and a high participation rate.
Housing demand continues to outpace a low and diminishing housing supply, and although high post-COVID migration levels have recently eased, numbers remain strong and will add to chronic housing undersupply, supporting high rents and low vacancy rates generally in capital city rental markets.
Following a period of easing in rental growth, the latest data continue to show extraordinarily low home rental vacancy rates and clear signs that rents are on the rise again.
High rents and higher prices continue to provide clear incentives for first-home buyers and investors chasing solid investment returns.
Ongoing government initiatives to support first-home buyers will increase demand and place further upward pressure on prices.
Capital city housing markets generally recorded higher house and unit prices over 2023, 2024 and surged over 2025, fuelled by rising buyer and seller confidence through sharp cuts to interest rates.
Although 2026 is again likely to see higher home prices, significant uncertainty has recently emerged about the near-term outlook for already-high interest rates and economic activity, which will generally dampen buyer and seller confidence.
Early signs are emerging in the recent weakening of home auction market clearance rates, particularly in Sydney and Melbourne.
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