The Australian home sector outperforming the rest
Pandemic fuelled renovations have only strengthened prices at this end of the market
3 min
Luxury houses have experienced a far stronger rate of capital growth than the rest of the market over the past 10 years, according to a historical analysis by Australia’s largest agency network, Ray White. Family houses at the median price point have increased by 78 percent in value over the past decade, while prestige houses priced within the top five percent of homes have doubled in value.
Ray White chief economist Nerida Conisbee said land was a large component of prestige homes’ value and this created stronger rates of capital growth.
“There are only so many properties you can build in our most expensive suburbs, which tend to be located close to beaches, bays and rivers,” Ms Conisbee said. “Anything with even more unique characteristics that are hard to replicate, such as a view or close proximity to the water, are likely to have increased even further.”
Strong renovation activity during and after the pandemic accelerated capital growth.
“Luxury homes have become even more expensive over time as more investment has taken place,” Ms Conisbee said. “And while it is not possible to measure, it is likely a higher proportion of well-located luxury homes have been renovated than the rest of the market and almost certainly true that more has been spent on them.”
Luxury apartments have also grown in value at a much higher rate than average units. Ms Conisbee said this indicated the rising popularity of apartment living among wealthy Australians. Developers are increasingly catering to this trend by producing high-quality lifestyle apartments with large floorplans, many luxurious inclusions and access to world-class amenities and services.
Ms Conisbee said prestige home values also had a higher rate of appreciation because Australia’s rich were getting richer.
“A recent report from Oxfam has found that the wealth of Australia’s richest people has increased at a rate of $1.5 million per hour since 2020,” she said. “A lot of this wealth has been invested in luxury homes around Australia.”
The most expensive homes in Australia
CoreLogic data shows the most expensive suburb in Australia for houses is Bellevue Hill in Sydney, with a median value of $9.73 million. Nearby Point Piper is the most expensive suburb for apartments with a median of $3.32 million. In 2023, Australia’s top five sales occurred in Bellevue Hill, nearby Vaucluse and Hawthorn in Melbourne, ranging from $39 million to $76 million.
In regional Australia, the most expensive suburbs are Sunshine Beach in Queensland with a median house price of $2.38 million, Gerroa in NSW ($2.34 million), Surfers Paradise in Queensland ($2.27 million), Burradoo in NSW ($2.25 million) and Noosa Heads in Queensland ($2.24 million).
During the pandemic, the highest capital growth was seen in the most desirable and expensive regional markets, as wealthy city dwellers bought large lifestyle homes and holiday residences in prime seachange and treechange areas. Last year, this trend reversed, with the greatest capital gains seen in more affordable regional coastal towns, according to a new CoreLogic report released today.
The report shows that 35% of Australia’s regional coastal markets had record-high median values at the end of 2023, despite rising interest rates and cost of living pressures. The study analysed 368 coastal markets located at least 50km from the nearest capital city to reveal the top 20 gainers. All of these suburbs had a median value well below $1 million and Western Australia dominated the list.
CoreLogic Research Director Tim Lawless said: “The performance of those with the largest gains and the highest growth rates are not the glamorous hot spots that rose to prominence during COVID. The past 12 months has seen markets that offer a combination of value and lifestyle attributes, such as commuting distance to a major city, great beaches, and quality housing at a more affordable price point, outperform more well-known areas.
“Suburbs in areas such as Western Australia and more northern regions of Queensland where it’s still possible to make a seachange for less than $1 million were the strongest performers last year. Although home values in these regions are mostly at record highs, they remain relatively affordable for seachangers selling out of more expensive metro markets.”
Highest annual capital gains in 2023 – regional coastal towns
Source: CoreLogic
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Mount French Lodge offers a rare mix of privacy, scale and hospitality potential as demand grows for prestige estates beyond beachside hotspots.
2 min
Mount French Lodge, one of the most remarkable private estates in Queensland’s Scenic Rim, has been brought to market, offering a glimpse into the growing appetite for high-end lifestyle properties beyond the state’s traditional beachside enclaves.
Located in the tiny locality of Charlwood, around 100km inland from Brisbane and home to just 146 residents at the 2021 Census, the estate stands in stark contrast to its quiet surroundings. Set across nearly 100 acres and positioned some 600 feet above sea level, the property occupies a commanding vantage point beneath the escarpments of Mount French.
It’s this combination of elevation, scale and seclusion that defines the estate, not just as a private residence, but as an experience-led destination. Mount French Lodge has been recognised in both the 2024 and 2025 Best of Queensland Experiences, reflecting a broader shift towards luxury rural retreats that blur the line between home, hospitality and investment.
Last sold for $3.65 million in 2021 to Brisbane-based entrepreneur Tim Woodhouse, the estate has since evolved into a multifaceted holding. At its core is a central lodge, complemented by guest accommodation, entertaining spaces and resort-style amenities spread across two distinct plateaus.
In total, the property comprises 12 bedrooms configured across eight self-contained apartments within multiple lodges. At its heart is the Great Room, a central gathering space anchored by a large living area and fireplace. Nearby, a fully equipped outdoor pavilion with barbecue facilities sits alongside the estate’s swimming pool.
The property is being marketed as a private compound, ranch, corporate retreat and a wedding venue, highlighting its potential as a lifestyle asset with income-generating capability. This kind of flexibility is increasingly resonating with buyers, particularly as demand grows for properties that can serve as multigenerational homes, wellness retreats or boutique accommodation offerings.
Despite its sense of isolation, Mount French Lodge remains within relatively easy reach of Brisbane, around an hour by road or just minutes by helicopter. That balance of accessibility and privacy underscores the broader appeal of the Scenic Rim, which continues to emerge as a quiet achiever in Queensland’s prestige property market.
The listing is being handled by Queensland Sotheby’s International Realty agents Sandy Davies and Nicholas Miranda, and is expected to attract interest from both domestic and international buyers.
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