Australia’s Multi-Million-Dollar Suburbs Double
Luxury homes are continuing to lure buyers with the number of Australian multi-million-dollar suburbs expected to double again this year.
The number of suburbs with a median over $3 million doubled in 2020 and could double 2021 according to the latest REA Insights report.
The luxury property market was propelled by an increase in total household wealth, which saw the Australian Bureau of Statistics report a record high in November 2020.
Almost all of the 30 high priced suburbs are located in Sydney with the exception of Forrest in Canberra which entered the list for the first time with prices growing by 16.4 per cent in 2020.
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CANBERA (dpa-AFX) - The New Zealand dollar that initially fell against its major counterparts recovered immediately in the Asian session on Wednesday, after the Reserve Bank of New Zealand left
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Tax reform required to keep house prices in check
The Property Council of Australia has urged whoever is appointed the next Treasurer of Western Australia to commit to a comprehensive review of all property taxes by 2025.
The call comes as Perth’s rental vacancy rate has hit its lowest level in 40 years and with house prices tipped to increase by up to 15 per cent over 2021.
According to Sandra Brewer, WA Executive Director, the challenge now facing the State is to ensure the tax regime does not create affordability challenges as the economy and property values grow.
“Our most recent ANZ/Property Council Confidence Survey recorded an uptick in confidence in the WA residential property market,” Ms Brewer said.
Inside the compound : Incredible mansion hidden behind a unique façade boasts a marble kitchen, Bali-inspired swimming pool, a VERY edgy cinema with a cocktail bar and a car lift in the basement
An architect has created a unique luxury mansion just metres from the sand of Melbourne s Brighton Beach
The masterpiece , designed by Rodney Eggleston of March Studio, has won a slew of sought-after awards
Standout features include a marble kitchen, Bali-inspired swimming pool, gym and cinema with cocktail bar
The upstairs is shrouded in angled copper sheets which provide privacy from passersby on the street