The hardworking design feature setting up this Brisbane home for entertaining
It’s business at the front and party at the back in this transformation of a classic Queenslander
It’s business at the front and party at the back in this transformation of a classic Queenslander
T o homeowners in other east coast capitals, the inner suburbs of Brisbane are quite the surprise. Just minutes from the heart of the city, they are consistently populated with traditional Queenslanders positioned on generous sites. So generous, in fact, that the 500sqm or so block that this home in Paddington sits on is considered on the smaller side.
Architect Alexandra Buchanan was called in before the owners had even purchased the property in the highly desirable suburb to see if it had potential for renewal without having to sacrifice its original charm. Still in ‘very original’ condition, the three-bedroom weatherboard cottage had been virtually untouched over the years but was deemed in sound enough condition to make the transition into the 21st century.

Characterised by lightweight timber construction, decorative timberwork and verandas to keep out the sun, Queenslanders are most notable for being built on ‘stilts’. Constructed from the mid 1800s to after WWII, the increased air flow under the house helped to manage the climate, as well as mitigate flood risk and make it easier to build on uneven terrain.
The new owners, who were experienced builders and developers, were keen to let the original house shine while creating a significant contemporary extension at the rear that would make the most of the subtropical environment.
“It was a classic ‘worst house on the best street’ scenario in a tricky spot in the low point on the street,” Buchanan says. “In Brisbane there are overland flow issues which we had to overcome because this house is sitting in a low point.”
As demonstrated by the 2022 floods, Brisbane is on the Brisbane River floodplain. While Paddington is just under 5km from the CBD, it is subject to overland flow flooding which Brisbane City Council defines as ‘run-off that travels over the land during heavy rainfalls’ with depth and impact depending on the prevailing local conditions.
Safeguarding the house against future flooding was a top priority.
“It’s a low set, single-storey house with a lovely big back garden that raked up away from the street at the back of the property,” Buchanan explains.
“It’s on an elevated slab so the water way is still on the lower level under it. We don’t impede the water flow, the house is sitting above it so that you don’t know anything about it at all.”
Rather than continue with the traditional weatherboard construction at the front of the house, Buchanan specified a mix of concrete, stone and natural timber to create the two-storey extension to the rear. At the heart of this is a dramatic void above an open plan living space that takes in the kitchen, dining and living room.
“A lot of the design was about making sure we had good access to natural light while opening up the side of the house,” she says. “That’s why it has that beautiful void space in the heart of the house.
“When you come through the front door it reveals itself to you and it’s quite a dynamic space as the light tracks across it during the day.”

The articulated floorplan includes a second living space on the ground floor, specifically designed to have quite a different feel.
“We wanted to close off the second living space that addresses the garden because it’s a TV space,” Buchanan says. “It’s more intimate with a lower ceiling.”
Upstairs, there’s a library, as well as a spacious balcony off the main bedroom suite overlooking the garden and pool below.
But perhaps the real drawcard is the flow between indoor and outdoor spaces. Using the upper floor as an overhang, Buchanan designed a paved alfresco dining space that leads onto an outdoor living area that almost feels like an internal courtyard. Key to this is a large concrete planter that extends beyond the footprint of the upper floor to wrap around the outdoor living area. Built by master builders BBH Projects, landscaping by local firm Brooke’s Blooms has further enhanced the site by selecting a combination of architectural and hanging plants so that it’s hard to discern where the house ends and the garden begins.

“The brief was very much about the connection to the garden and having as much garden as we could afford them,” Buchanan says. “We live in subtropical Queensland so that indoor/outdoor flow with beautiful cross flow of air was critical.”
With neighbours to both sides and the rear, it was important to lean into the local landscape as much as possible.
“We had to juggle some proximity to the neighbours,” she says. “They had quite a beautiful, lush garden on their block and around them and their neighbour has some beautiful established trees so we made sure to enhance that to provide privacy.”
Taking on the weight of the hanging gardens would not have been possible without concrete.
“The benefits of having that concrete base allowed us to have the planting to carry the site and provide the screening,” she says. “It also allows for an outdoor fireplace which is embedded in that as well. It’s a very hard working element that integrates front and back.”
While visitors to the house are drawn to the dramatic living space and garden, for Buchanan, it’s the quiet moments in this house that please her the most.
“There’s a gorgeous informal meals area off the side which is one of my favourite spots,” she says. “You can imagine informal catch ups with friends happening there with a glass of wine while you’re in the kitchen. It could have been a dead corner but it gave it activation.”
As housing drives wealth and policy debate, the real risk is an economy hooked on growth without productivity to sustain it.
Limited to 630 units, Lamborghini’s latest Urus Capsule pushes personalisation further than ever, blending hybrid performance with over 70 bespoke design combinations.
As housing drives wealth and policy debate, the real risk is an economy hooked on growth without productivity to sustain it.
For decades, Australia has leaned into its reputation as the lucky country. But luck, as it turns out, is not an economic strategy.
What once looked like resilience now appears increasingly fragile. Beneath the surface of rising property values and steady headline growth, the Australian economy is showing signs of strain that can no longer be ignored.
Recent data paints a sobering picture. Australia has recorded one of the largest declines in real household disposable income per capita among advanced economies.
Wages have failed to keep pace with inflation, meaning many Australians are working harder for less. On a per capita basis, income growth has stalled and, at times, reversed.
And yet, on paper, things still look relatively solid. GDP is growing. Unemployment remains low. But that growth is increasingly being driven by population expansion rather than productivity.
More people are contributing to output, but not necessarily improving living standards.
That distinction matters.
For years, Australia’s economic success rested on a powerful combination: a once-in-a-generation mining boom, a credit-fuelled housing market, strong migration and a property sector that rarely faltered. Between 1991 and 2020, the country avoided recession entirely, building enormous wealth in the process.
But much of that wealth is tied to property. Around two-thirds of household wealth sits in real estate, inflated by leverage and sustained by demand. It has worked, until now.
The problem is the supply side of the economy has not kept up.
Housing supply is falling behind population growth. Rental vacancies are near record lows.
Construction firms are collapsing at an elevated rate. At the same time, massive infrastructure pipelines are competing with residential projects for labour and materials, pushing costs higher and delaying delivery.
The result is a system under pressure from all angles.
Despite near full employment, productivity growth has stagnated for years. In simple terms, Australians are putting in more hours without generating more output per hour. The economy is running faster, butgoing nowhere.
Meanwhile, government spending continues to expand. Public debt is approaching $1 trillion, with spending now accounting for a record share of GDP.
The gap between spending and revenue has been filled by borrowing for decades, adding further pressure to an already stretched system.
This is where the uncomfortable question emerges.
Has Australia become too reliant on a model driven by rising property values, expanding credit and population growth?
As asset prices rise, households feel wealthier and borrow more. Banks lend more. Governments collect more revenue. Migration fuels demand. The cycle reinforces itself.
But when productivity stalls and debt outpaces real income, the system begins to depend on constant expansion just to stay stable.
It is not a collapse scenario. But it is not particularly stable either.
Nowhere is this more evident than in housing.
The National Housing Accord targets 1.2 million new homes over five years, yet current completion rates are well below that pace. With approvals falling and construction costs rising, the gap between supply and demand is widening, not narrowing.
Housing is also one of the largest contributors to inflation, with costs rising sharply across rents, construction and utilities. Yet the private sector, from small investors to major developers, is struggling to make projects stack up in the current environment.
This brings the policy debate into sharper focus.
Tax settings such as negative gearing and capital gains concessions have undoubtedly boosted demand over the past two decades. But they have also supported supply. Removing them may ease prices briefly, but risks deepening the supply shortage over time.
That is the paradox.
Policies designed to make housing more affordable can, in practice, make the shortage worse if they discourage development. The optics may appeal, but the economics are far less forgiving.
It is also worth remembering that most property investors are not institutional players. The majority own just one investment property. They are, in many cases, ordinary Australians using real estate as their primary wealth-building tool.
Undermining that system without replacing it with a viable alternative risks unintended consequences, from reduced supply to higher rents and increased inflation.
So where does that leave Australia?
At a crossroads.
The country can continue to rely on population growth and rising asset prices to drive economic activity. Or it can shift towards a model built on productivity, innovation and sustainable growth.
The latter is harder. It requires structural reform, long-term thinking and political discipline.
But it is also the only path that leads to genuine, lasting prosperity.
The question is no longer whether Australia has been lucky.
It is whether it can evolve before that luck runs out.
Paul Miron is the Co-Founder & Fund Manager of Msquared Capital.
From farm-to-table Thai to fairy-lit mango trees and Coral Sea vistas, Port Douglas has award-winning dining and plenty of tropical charm on the side.
Advertising legend John Singleton unveils an exclusive 16-residence Caroline Bay development, marking his latest high-end property play on the Central Coast.