Latest news with #AtomGoTian
Daily Telegraph
11 hours ago
- Business
- Daily Telegraph
Price shock: Luxe Aussie mansions now start at $2.52m
AustAsia's luxury property sales are booming with the price tag for a bougie home now starting at $2.52m – up 72 per cent from 10 years ago, new data shows. According to Ray White's second Australia's Luxury Report, Sydney remains Australia's most expensive market with buyers needing to find a cool $4m to afford a home with all the trimmings. The Gold Coast ranked second at $2.6m, pushing ahead of Melbourne's $2.49 million entry point. The Sunshine Coast in Queensland also ranked in the top five at $2.4m, followed by Brisbane and Perth, where the average luxury home now costs $2.1m. Meanwhile, the starting point for a bougie home in Adelaide and Canberra has climbed to $1.9m, with Darwin the only capital remaining to offer luxury living under $1m. RELATED Mansion that hosted Rolling Stones, Frank Sinatra sells for mega price Telenet CEO pays $12.1m 'record price' for house with no parking Record warehouse seller emerges as $15m buyer of rare penthouse Luxury homes are generally defined by their use of premium materials and exceptional finishes, including finest marble countertops, rare hardwood floors, and custom cabinetry. 'More than just a price point, luxury represents the pinnacle of craftsmanship, attention to detail, and scarcity within a market,' Ray White senior data analyst Atom Go Tian said. 'It varies dramatically by location; what's considered standard in Sydney might be exceptional elsewhere in Australia. 'From a national perspective, luxury properties in Australia now command prices exceeding $2.52 million, representing a 72 per cent increase from $1.49 million a decade ago.' RELATED: Rose Bay mansion with James Packer link has $90m hopes Mr Go Tian said a staggering $663 million changed hands across just 20 transactions over the past year, revealing not only where Australia's wealthiest choose to live, but also who they are and how their wealth was created. 'Eastern Sydney continues to be the place to be, with the Double Bay-Bellevue Hill and Rose Bay-Vaucluse-Watsons Bay enclaves accounting for more than half of all top transactions,' he said. 'Bellevue Hill alone appears five times on the list, while Vaucluse claims four spots. Beyond Sydney's harbour views, Melbourne's old-money suburbs of Toorak and Brighton each secured positions, while lifestyle destinations like Noosa Heads, Byron Bay, and Portsea also featured prominently.' MORE NEWS: Bulldozed Toorak block asks $40m+ for dirt The crown jewel of these transactions stands as 'Alcooringa,' a Spanish Mission-style residence perched majestically at 27 Victoria Road, Bellevue Hill. Top agent Ashley Bierman of Ray White Double Bay negotiated this off-market sale. The architectural masterpiece commanded an eye-watering $80 million; a figure that towers over even its closest competitor by $30 million. Mr Go Tian said expensive homes are changing hands in new ways. 'Today's ultra-luxury property buyers are primarily self-made business owners, especially those who built digital and tech companies, rather than corporate executives who once dominated this market,' he said. 'The wealth behind these purchases now comes from a much wider range of industries, with online businesses and technology ventures leading the way.' MORE NEWS: Musician snaps up one of nation's most popular homes An analysis of this year's top 20 sales reveals today's luxury purchasers are predominantly self-made entrepreneurs from diverse sectors including e-commerce, property development, financial services, fashion, and technology. The report shows the architectural and landscape features of Australia's most expensive homes reveal sophisticated investment priorities, with wellness facilities, sustainable elements, and indoor-outdoor integration now considered essential rather than optional. Properties with comprehensive wellness features command price premiums of 10-25 per cent, reflecting a fundamental shift in what constitutes luxury in today's market.
Sydney Morning Herald
27-05-2025
- Business
- Sydney Morning Herald
Who's the breadwinner? In Perth, it's probably your house
Perth is the only place in Australia where houses earned more than people, with average prices surging by $95,022 over the past year – climbing from $812,482 to $907,504. Ray White Group senior data analyst Atom Go Tian said Perth residents seemed to have the best of both worlds. 'Not only do they earn the second-highest annual income across the country, but their houses made the biggest gains in the last 12 months,' he said. 'Even Canberra with annual incomes of $93,351 couldn't match what Perth houses made.' Tian said in Adelaide it was neck and neck with both annual personal income and house price growth sitting at just over $63,000. Brisbane homeowners were just keeping their noses in front, earning roughly $2000 more than their houses appreciated. 'However, the gap widens from here with Melbourne and Canberra having the greatest disparity between personal income and house price growth,' he said. 'Melburnians made 5.5 times more than their properties, while Canberrans pulled in five times what their houses did.' At a suburb level Perth dominated the list of suburbs where houses earn more than people. Carabooda-Pinjar, which has a median house price of $1.58 million, recorded the largest difference between annual house price gain and income with a net positive increase of $95,272. It was closely followed by Nedlands-Dalkeith-Crawley ($93,000), City Beach ($80,514) and Claremont ($63,293). 'Even among Perth's strongest performers, house prices remain relatively accessible compared to Sydney and Melbourne,' Tian said.
Sydney Morning Herald
27-05-2025
- Business
- Sydney Morning Herald
The locations where houses make more money than their owners
Sydney's house prices jumped $52,006, compared to annual earnings of $78,512. In Brisbane, there was just a $2411 difference in house price gains and wage income, while in Adelaide the gap was only $227. The last time wages outstripped house prices was during the market slowdowns in 2023 and 2019, senior data analyst with Ray White Group Atom Go Tian revealed. Ray White chief economist Nerida Conisbee said the Sydney and Melbourne markets had been a lot more sensitive to interest rate rises than out west. Sydney and Melbourne had been hit by affordability issues, meaning house price gains fell behind wages, especially in more expensive areas. Loading 'The top end of the market is definitely seeing a slowdown,' Conisbee said. 'We normally think of people buying expensive houses not needing big mortgages, but some do, and interest rate rises now mean it's harder to get finance.' But Perth's housing market seemingly shrugged off the challenges as a lack of new housing created more competition over properties for sale in Perth, meaning prices kept booming, she said. Perth's market was also buoyed by its recovery after the mining boom and bust, she said. 'There is a lack of houses in Perth because of the really big construction problems,' Conisbee said. 'Construction costs have continued to increase … and there have been a lot of competing demands. 'There's been a bit of catch up as well because for 10-15 years house prices fell in Perth, so prices have jumped to get back to where they should have been.' The last time Sydney and Melbourne were in a property boom three years ago, data showed some wealthy neighbourhoods recorded house price rises of more than $1 million, earning more than 10 times pay packets. But the opposite was now happening, with home owners most likely to earn more than their houses in affluent suburbs such as Victoria's Toorak and South Yarra, and Sydney's Balmain, the Ray White research showed. House price gains also trailed incomes in regional areas in NSW, Victoria, Queensland and Western Australia. Loading Regional NSW's house prices jumped $26,712 while wages sat at $60,073. Regional Victoria's house prices were up by a more subdued $11,920 with wages at $62,300. AMP chief economist Dr Shane Oliver said property markets in Sydney, Melbourne, Hobart and Canberra had been weaker over the past 12 months as they had hit their peaks much earlier than Perth. With 13 interest rate increases between May 2022 and September 2023, and only two decreases this year so far, it was unclear whether any further cuts would have a big enough impact for house price gains to eclipse wages there over the next 12 months, he said. House prices had kept rising due to a lack of supply and strong population growth, albeit at a slower pace than during the COVID boom, he said. But he had a warning for the still relatively affordable west coast market. 'Affordability was already worse in these [east coast] capitals so it left them more vulnerable to higher interest rates,' Oliver said. 'Perth will start to run into trouble as affordability issues hit.'
The Age
27-05-2025
- Business
- The Age
Who's the breadwinner? In Perth, it's probably your house
Perth is the only place in Australia where houses earned more than people, with average prices surging by $95,022 over the past year – climbing from $812,482 to $907,504. Ray White Group senior data analyst Atom Go Tian said Perth residents seemed to have the best of both worlds. 'Not only do they earn the second-highest annual income across the country, but their houses made the biggest gains in the last 12 months,' he said. 'Even Canberra with annual incomes of $93,351 couldn't match what Perth houses made.' Tian said in Adelaide it was neck and neck with both annual personal income and house price growth sitting at just over $63,000. Brisbane homeowners were just keeping their noses in front, earning roughly $2000 more than their houses appreciated. 'However, the gap widens from here with Melbourne and Canberra having the greatest disparity between personal income and house price growth,' he said. 'Melburnians made 5.5 times more than their properties, while Canberrans pulled in five times what their houses did.' At a suburb level Perth dominated the list of suburbs where houses earn more than people. Carabooda-Pinjar, which has a median house price of $1.58 million, recorded the largest difference between annual house price gain and income with a net positive increase of $95,272. It was closely followed by Nedlands-Dalkeith-Crawley ($93,000), City Beach ($80,514) and Claremont ($63,293). 'Even among Perth's strongest performers, house prices remain relatively accessible compared to Sydney and Melbourne,' Tian said.
The Age
27-05-2025
- Business
- The Age
The locations where houses make more money than their owners
Sydney's house prices jumped $52,006, compared to annual earnings of $78,512. In Brisbane, there was just a $2411 difference in house price gains and wage income, while in Adelaide the gap was only $227. The last time wages outstripped house prices was during the market slowdowns in 2023 and 2019, senior data analyst with Ray White Group Atom Go Tian revealed. Ray White chief economist Nerida Conisbee said the Sydney and Melbourne markets had been a lot more sensitive to interest rate rises than out west. Sydney and Melbourne had been hit by affordability issues, meaning house price gains fell behind wages, especially in more expensive areas. Loading 'The top end of the market is definitely seeing a slowdown,' Conisbee said. 'We normally think of people buying expensive houses not needing big mortgages, but some do, and interest rate rises now mean it's harder to get finance.' But Perth's housing market seemingly shrugged off the challenges as a lack of new housing created more competition over properties for sale in Perth, meaning prices kept booming, she said. Perth's market was also buoyed by its recovery after the mining boom and bust, she said. 'There is a lack of houses in Perth because of the really big construction problems,' Conisbee said. 'Construction costs have continued to increase … and there have been a lot of competing demands. 'There's been a bit of catch up as well because for 10-15 years house prices fell in Perth, so prices have jumped to get back to where they should have been.' The last time Sydney and Melbourne were in a property boom three years ago, data showed some wealthy neighbourhoods recorded house price rises of more than $1 million, earning more than 10 times pay packets. But the opposite was now happening, with home owners most likely to earn more than their houses in affluent suburbs such as Victoria's Toorak and South Yarra, and Sydney's Balmain, the Ray White research showed. House price gains also trailed incomes in regional areas in NSW, Victoria, Queensland and Western Australia. Loading Regional NSW's house prices jumped $26,712 while wages sat at $60,073. Regional Victoria's house prices were up by a more subdued $11,920 with wages at $62,300. AMP chief economist Dr Shane Oliver said property markets in Sydney, Melbourne, Hobart and Canberra had been weaker over the past 12 months as they had hit their peaks much earlier than Perth. With 13 interest rate increases between May 2022 and September 2023, and only two decreases this year so far, it was unclear whether any further cuts would have a big enough impact for house price gains to eclipse wages there over the next 12 months, he said. House prices had kept rising due to a lack of supply and strong population growth, albeit at a slower pace than during the COVID boom, he said. But he had a warning for the still relatively affordable west coast market. 'Affordability was already worse in these [east coast] capitals so it left them more vulnerable to higher interest rates,' Oliver said. 'Perth will start to run into trouble as affordability issues hit.'
