Gold Coast beachfront mansion sold for all-timer $27.5 million price tag

Queensland has recorded one of its biggest-ever residential sales, with a Gold Coast mansion selling off-market for an astounding $27.5 million.

Seated in Mermaid Beach’s ‘Millionaires’ Row’, the beachfront home at 127 Hedges Ave was last bought in 2021 for more than $15 million. Only four years later, the property has now sold for almost double the price.

127 Hedges Ave, Mermaid Beach, just sold for one of Queensland’s biggest ever residential sales at $27.5 million.

While selling agent Amir Mian declined to comment on the buyers, it is understood a local family had splashed the staggering amount to acquire the prized parcel.

“A standard-sized block on Hedges Ave will have 10 metres of beachfront,” Mr Mian said. “This is 15m, which gives you an incredible sense of space and the wider width of the beach, as well as close proximity to the amenities of Broadbeach.”

The sale is one of the most expensive ever recorded across both the Gold Coast and the rest of Queensland.

The home was owned by Maria Moy at the time of the sale, and was bought by a local who had been scouting the area. It was previously built for Dreamworld co-founder John Longhurst in 2017.

The house was owned by Maria Moy before the sale, who previously bought the property from owners Michael and Benita Brosnan.

The timber and concrete house was architecturally designed and built in 2017, owned at the time by Dreamworld co-founder John Longhurst.

Featuring two levels, the mansion sports five bedrooms, a resort-style pool, and a beachfront terrace taking residents straight to the sandy shores.

The property had been unchanged since its last purchase in 2021, meaning it almost doubled in value since that sale.

Mr Mian said the 607 sqm property, which had seen touch-ups in 2017, had been unchanged since the 2021 purchase.

“[Years ago], you could buy on Hedges for $6m, knockdown” he said. “Now, Mermaid Beach is pretty much the most expensive suburb in Queensland.”

“On the one side you’ve got the beach, and on the other side … you’re minutes to literally everything. It’s very rare.”

Mermaid Beach’s median house price currently sits at $3.4 million, making it the fourth most expensive suburb in the state.

The site the building was built on, which now features five bedrooms and a terrace taking residents directly to the beach.

Hedges Ave, known as ‘Millionaires’ Row’, is known for massive luxury properties with gigantic price tags, such as Clive Palmer’s $28 million corner property.

But Hedges Ave is known for extravagant sales, with billionaire Clive Palmer reported to have bought a $28m corner property on the same road.

Mr Mian said by the time some of Hedges Ave’s most prestigious properties go on the market, he expected some of them to fetch tens of millions more.

“Those sales will pop up, if one of those vendors is to sell,” he said. “If that happens then I think that’s the only area on the Gold Coast which will be attracting those [massive] prices.”

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Legal experts say RESPA suit against Zillow is ‘going nowhere fast’

Zillow’s legal workload became even heavier on Friday when homebuyer Alucard Taylor filed a class action lawsuit against the real estate behemoth over its Premier Agent and Flex programs. 

The lawsuit, which was filed in U.S. District Court in Seattle, alleges both the Washington Consumer Protection Act and the Real Estate Settlement Procedures Act (RESPA) violations. According to the complaint, by directing consumers to a Zillow-affiliated buyer’s agent instead of a property’s listing agent when they click the “contact agent” button, consumers are forced to pay higher home prices due to the “hidden fee” the buyer’s agent must pay Zillow for the referral. 

While the real estate industry is no stranger to high profile lawsuits, the reaction to the Taylor suit has been mixed. On the one hand, consumer policy advocates, who have been campaigning for clearer disclosures of referral fees agents pay to lead generation sources, are at least pleased to see some action, but legal experts are not optimistic about the lawsuit’s chances. 

Pros for protecting consumers

“The lawsuit makes the valid point that the large ‘contact agent’ button at the top of the page can easily mislead buyers into thinking that they are contacting the listing agent,” Stephen Brobeck, a senior fellow at the Consumer Policy Center (CPC), wrote in an email. “Even though this agent is named — in small print farther down the page — the button would be more accurate if it read, ‘contact a buyer agent.’”

Wendy Gilch, another fellow at the CPC, agrees, adding that the lawsuit is important because it is forcing the industry to ponder whether or not agents are getting “true informed consent” from consumers when sometimes close to 50% of their commission is going to a third-party referral source.

“Every referral program should be asking themselves right now whether their clients really understand where their money is going,” Gilch wrote in an email. “If they truly feel that they are offering consumers something worth thousands of dollars in commission costs, then they should have no problem being upfront about how they make money to their users.”

Despite her support of the premise of the lawsuit, Gilch said she believes that the lawsuit feels a bit targeted. 

“There are probably 50+ other companies running similar undisclosed referral programs, some of which also use listings,” Gilch wrote. “The selective targeting here, especially after Zillow’s pocket listing restrictions, suggests this might be as much about industry politics as consumer protection. If we really care about informed consent, why not go after the whole ecosystem?”

Legal skeptics as law firm “completely forgot the terms of the NAR settlement”

Although the lawsuit may have the support of consumer policy advocates, legal experts are skeptical. 

In a post on LinkedIn, Tanya Monestier, a law professor at the University of Buffalo, wrote that the suit is “going nowhere fast.” 

“I was struck by how the law firm that negotiated the National Association of Realtors’ settlement seemed to completely forget the terms of the NAR settlement. The point of the NAR settlement was to decouple commissions — sellers pay the listing agent, buyers pay the buyer’s agent,” Monestier wrote, referencing the fact that the suit was filed by attorneys at Hagens Berman Sobol Shapiro LLP and Cohen Milstein, who represented plaintiffs in the Moehrl commission lawsuit. “Yet, this Complaint says the opposite. There’s so much wrong with this complaint. But it’s shocking that the lawyers seem to have overlooked the terms of their own settlement.”

According to the complaint, the seller signs a listing agreement with the listing agent that specifies “the total commission that a home seller will pay to the seller broker and also specifies the amount earmarked to be paid to the buyer broker (in the event the buyer has a broker).” 

“When a buyer retains a broker, the buyer enters into a contract with that broker. The contract typically discloses that the buyer will be compensated by receiving a commission from the seller broker. If the buyer has a broker, the seller broker pays the buyer broker a commission out of the total commission paid by the seller,” the complaint states.

False allegations, say experts

Francis X. Riley, a partner at Saul Ewing LLP., takes things a step further, stating that the “complaint makes utterly false allegations that any reasonable investigation would reveal to be untrue.”

One such false allegation Riley, who specializes in RESPA compliance, highlights is the suit’s claim that the referral fee agents pay Zillow for the lead constitutes an illegal kickback under RESPA. While RESPA makes referral fees between real estate agents and settlement services providers illegal, it contains a carve out for fees paid between brokerages, and although Zillow does not have any of its own licensed agents, it is a real estate brokerage. 

“Real estate broker-to-broker cooperative brokerage referral agreements are completely legal,” Marx Sterbcow, the managing attorney at Sterbcow Law Group and a RESPA compliance expert, said. “There is a carve out in RESPA for these fees.” 

Additionally, Sterbcow noted that guidance from federal agencies including the Consumer Financial Protection Bureau (CFPB) and the Department of Housing and Urban Development (HUD) reinforces this.

“Guidance affirms that ‘one real estate broker may freely refer a client to other real estate brokers without violating RESPA, so long as the real estate brokerages do not share a fee or commission.’ Where such a share occurs in a cooperative context — as in success-based cuts tied to the agent’s post-closing efforts — it falls squarely within the exemption, absent evidence of vertical integration or required-use coercion under Section 8(b). Plaintiffs’ failure to grapple with this statutory bulwark renders their Section 8(a) theory untenable on its face,” Sterbcow wrote. “Post-NAR, such suits may serve as clickbait, but they risk chilling lawful innovation without advancing RESPA’s consumer-protection mandate.”

Although this lawsuit may not pass muster in the courtroom, experts still feel it may make some waves in the greater housing industry. 

“I can see this trickling into relocation programs at some point. One broker recently told me that the relocation company they work with has it in their contract that they are not allowed to tell the client how much the relocation company is taking. That same broker also told me that he was exploring different business models in the wake of the settlement and was working with a flat fee,” Gilch wrote. “But when he has relocation clients, he has to increase that flat fee to offset the almost 50% that the relocation company takes.” 

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How much you can save buying in NYC if you’re willing to give up some typical must-haves

Most buyers think in terms of must-haves when apartment hunting in New York City, like private outdoor space, in-unit washer/dryer, doorman, and elevator.

But what if you flip that equation? What if you thought about buying in terms of subtraction, or in other words: How much could you save as a NYC buyer if you forgo private outdoor space, an in-unit washer/dryer, doorman, elevator or even a dishwasher?

That was the math lesson in a recent Linkedin post from broker Scott Harris, founder at Magnetic. “Want to save $500,000 on your apartment? Buy one in a building that doesn’t allow washer/dryers to be installed. We have seen equivalent units trade at a difference of a half a million dollars when one had a washer and dryer, and one didn’t,” Harris wrote.

Harris pointed out that some co-op buildings change their policies on allowing washer-dryers, so you could get a missing washer/dryer discount and then eventually be able to install one. He went on to list some real-life NYC co-op hacks, including giving a super $25,000 to look the other way and let you install a washer/dryer, netting a savings of $475,000. “I’m not saying I know people who have done that. But I know people who have done that,” he wrote.

Or you could pay for a laundry service: “$500,000 would cover a lot of trips to the laundry room,” he said.

Pricing your compromise

Some kind of compromise is common when buying in NYC, even for luxury buyers, but for buyers on a budget, say looking for a two bedroom under $1 million, a starker trade-off is a given—like a doorman vs. a preferred location. “Something has to give,” Harris told Brick.

Putting a price tag on what you are doing without can soften that blow.

For example, a two-bedroom co-op on a fifth floor could be $800,000, but with a terrace the price could be double, he said.

Still, there are lots of “caveats and disclaimers” when taking a menu approach to buying, Harris said, especially when talking about private outdoor space, because there’s a wide range of what’s available, from small terraces to deep backyards. Some private outdoor spaces can be accessed via a living room or kitchen, or a bedroom, factors that add or detract from its value.

“It’s the rare buyer who can say outdoor space is an absolute must,” Harris said. “The litmus test is: ‘Are you are a gardener?’ ‘Do you entertain?’ Because the fantasy of looking out from your terrace while sipping your coffee is fine but you could also walk your dog on the street have a nice experience too.”

Seeing places in person can help you refine your wish list. You may find out that the private outdoor space that seemed so attractive in the online listing “really doesn’t do anything for you,” Harris said. (He has a new book coming out next month: “The Pursuit of Home: A Real Estate Guide to Achieving the American Dream.”)

Case in point: Harris has a client who was very excited about the private outdoor space that came with his new $7 million Chelsea pad, “but he barely uses it.”

Calculating the value of outdoor space

If you’re comparing two places and one has private outdoor space, there are ways to break out that cost.

Jonathan Miller, president and CEO of appraisal firm Miller Samuel, measures it in relation to the price per square foot of the apartment’s interior space, he previously told Brick.

The value of one square foot of outdoor space is equivalent to about 25 or 50 percent of the price per square foot for the apartment, Miller said. To find out how much a patio or terrace adds to the price of a co-op or condo, multiply the total square footage of the exterior space by 25 to 50 percent of the price per square foot of the apartment. (To decide which percentage to use, consider the usability and views and whether it is a high-end space or not.) 

For an apartment that costs $1,500 per square foot, a 500-square-foot terrace could add as much as $750 per square foot to the purchase price. That is $375,000, or $750 per square foot multiplied by 500 square feet.

Real estate analytics firm UrbanDigs uses a different calculation to find the value of private outdoor space.

The firm adds $50,000 to $75,000 to the valuation of an apartment with a balcony under 100 square feet. For terraces and gardens, it adds from $200 to $600 per square foot for spaces that range from 100 square feet to over 500 square feet, depending on the space’s utility and size relative to the apartment.

For Manhattan co-op and condo sales during the past 12 months, UrbanDigs found that having a balcony or terrace added 41 percent to the median sales price. The median sales price for units in a building with a small private outdoor space was $1,200,000 vs. $850,000 in buildings without.

Typical must-have

Median price with

Median price without

Percentage difference

Doorman

$905,000

$670,000

35%

Elevator*

$865,000

$600,000

44%

Private outdoor space**

$1.2 million

$850,000

41%
*In buildings with six floors or less.  **Balcony/terrace
Source: UrbanDigs. Manhattan co-op/condo sales September 2024 to August 2025

Creative ways to compromise

You can’t always get what you want, but sometimes you get what you need, as the Rolling Stones sang.

For example, instead of private outdoor space, Charles McDonald, an agent at Brown Harris Stevens, points some buyers them toward buildings with shared roof decks.

Most of the time, “your neighbors never use it and it becomes semi-private,” he said.

Similarly, buildings with a virtual doorman mean you get some service without paying a premium for a staffed building. A unit in a doorman building can sell for 10 to 15 percent more than an identical unit without a doorman, he said.

Another hack may not work for everyone: Take the stairs. “We advise people to be open to walk ups,” McDonald said.

“To most people paying one million for a walk up almost sounds absurd,” but that strategy paid off for his client who bought a fifth-floor walkup at 23 West 16th St. for $1,175,000. That’s well under $1,000 per square foot, “a rarity for this neighborhood,” he said. A few months later, the third floor sold for $2.45 million, he said.

This last trick seems a bit messy: buying a place without a dishwasher.

It’s rare for buyers “to admit to being open to compromise on this,” McDonald said. But he recently sold a one bedroom that lacked this appliance because the prewar building said it hit its maximum electrical load and did not allow owners to install them.

“The buyer was nervous going into listing, but we got two offers and both buyers said it wasn’t an issue. They didn’t plan on cooking,” he said.

Buying in older buildings

Often the buildings that lack elevators are prewar, pointed out William Yau, a broker at Coldwell Banker Warburg. While location is important factor, units can be anywhere from 5 to 10 percent less than comparable places with an elevator, he said.

A recent report from PropertyShark compared the cost of units in new vs. old buildings and found that properties built in the past decade are nearly 60 percent pricier than older ones.

For places that lack a dishwasher, an upgrade may be in your future and eat into your cost savings.

“An apartment without a dishwasher likely means the condition is older and needs a fair number of updates. There aren’t really direct savings, since it likely means the home will require a fair amount of renovation,” Yau said.

When location matters

This strategy is not a good fit for buyers who value a specific location above everything else, said Becki Danchik, a broker at Coldwell Banker Warburg.

“I have been working with buyers who want to stay within a 10-block radius of Lincoln Center, and pricing has been all over the place. It is less about compromising on the ‘nice-to-haves’ and more about the exact location, the building itself, the amenities offered, and, in the case of private outdoor space, it is largely about the view,” she said.

Her buyers are deciding between two co-ops; both are in doorman buildings and are in similar condition. 

One has a private balcony with views of the city and a slice of Central Park from the 26th floor, asking $1.1 million. The building has a large staff, roof deck, gym, driveway, and good-sized lobby. 

The other property is more basic with less appeal, and the apartment has a balcony with partial river/city views from the 15th floor, asking $875,000.

“The question for a buyer who really wants a home with private outdoor space becomes, are you willing to save some money with an alright view in an alright building vs. paying top dollar for a spectacular view in a full-service building?” Danchik said.

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Brisbane vs Geelong: Which AFL city is winning the property price battle?

The MCG will host Saturday’s Grand Final but the real game was played in the property market.

Both Geelong and Brisbane represent two of the strongest connections between sporting success and real estate performance.

Both teams arrive as genuine Grand Final contenders, but their property stories reveal which city has already claimed victory.

The Fagan effect

The Lions’ transformation under Chris Fagan mirrors one of the most dramatic property turnarounds in recent memory.

Between 2005 and 2018, Brisbane averaged 13th on the ladder while their housing market crawled along with just 18 per cent growth over 14 years.

The team was mediocre, the city’s confidence was flat, and property investors looked elsewhere.

Then everything changed. As the Lions roared back to relevance with preliminary finals, grand final appearances, and now another shot at September glory, Brisbane house prices have exploded 107 per cent over the past six years.

When your team consistently delivers September thrills, your city becomes more attractive, more confident, more valuable.

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AFL Preliminary Final - Collingwood v Brisbane

(L-R) Cam Rayner, Darcy Fort and Darcy Wilmot of the Lions celebrate during the AFL First Preliminary Final match between the Collingwood Magpies and the Brisbane Lions at the Melbourne Cricket Ground on September 20, 2025 in Melbourne, Australia. (Photo by Michael Willson/AFL Photos via Getty Images)

Supplied Real Estate Source: Ray White Group

Source: Ray White Group

The Geelong standard

The Cats have written the playbook on how sporting excellence drives property growth. Sixteen top-four finishes in the last 20 years, including premierships in 2007, 2009, 2011, and 2022, have helped transform Geelong from industrial town to lifestyle destination.

Each September run brings national media attention, each premiership delivers civic pride that attracts investment and tourism.

The football success became inseparable from the city’s economic development story, with the team serving as the city’s best marketing asset for attracting the population and investment growth that powered property appreciation.

The connection runs so deep that when the Cats had their worst season in decades (12th in 2023), property prices dropped 3 per cent – one of only two declines in the past 20 years. When Geelong struggles, the market notices.

Geelong training

Geelong training at GMHBA Stadium .Mark Blicavs of the Cats . Picture: Michael Klein

Supplied Real Estate Source: Ray White Group

Source: Ray White Group

The real winner

Here’s where it gets interesting.

Since 2018, Brisbane house prices have surged 106 per cent compared to Geelong’s 35 per cent.

Even more telling: Brisbane’s membership has tripled from 24,867 to 75,115, while Geelong’s grew just 44 per cent to 92,379.

This season alone, Brisbane added 18 per cent more members while Geelong managed just 1.7 per cent growth.

Geelong may still be pulling rank on the field, but they’re stagnating where it matters most: community engagement and market confidence.

Brisbane brings explosive momentum from a city rediscovering its sporting soul, while Geelong represents a mature market that’s already captured most of its upside.

It should be painfully obvious that Saturday’s winner has already been decided.

Geelong Cats Training Session

Crowds watch on during a Geelong Cats Training Session at GMHBA Stadium. (Photo by Morgan Hancock/Getty Images)

The Brisbane Lions carry the momentum of a market riding high on sporting resurgence, explosive membership growth, and house price gains that have outpaced every expectation.

A victory this weekend would cement their dynasty, but the truth is that reaching a third consecutive Grand Final has already delivered the confidence boost Brisbane homeowners needed.

The data tells the story: Brisbane has already won where it matters most.

Saturday’s game? That’s just the victory lap.

Of course, we may be getting ahead of ourselves, but isn’t that part of the madness of Grand Final week?

Both these clubs have given us incredible stories of success, community, and the magic that happens when a city truly gets behind its team.

For now, we wish the Brisbane Lions and Geelong Cats massive congratulations for reaching the pinnacle of our beautiful game.

– By Atom Go Tian, Senior Data Analyst, Ray White Group

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Oakbank home earmarked for controversial motel hits the market

A well-known Oakbank home earmarked for a controversial 28-room tourist motel has hit the market.

The sandstone home on two titles at 209 Onkaparinga Valley Rd, which is known for its cut-outs of the Queen and Daniel Craig’s James Bond in its front windows, is being sold as a “golden opportunity” with “absolute future prosperity”.

It attracted controversy last year when designs for a motel proposed on the site were submitted to Adelaide Hills Council.

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209 Onkaparinga Valley Rd, Oakbank.

209 Onkaparinga Valley Rd, Oakbank.

209 Onkaparinga Valley Rd, Oakbank.

Next door to the Oakbank Hotel, the plans revealed 28 modern, one-bedroom tourist apartments, each with a living and bedroom area, a kitchenette and a bathroom.

Some community members were critical of it on Facebook because it was “out of character” for the town, “hideous and out of place”, and an “eyesore”.

Artist impressions included in the listing show changes have since been made to the proposed development.

Selling agent Chris Weston, of Weston Properties, said it had also largely been accepted by the community now.

“There was a little bit of controversy … but actually there’s a general acceptance now they see what’s being built,” Mr Weston said.

“It’s going to be fantastic for the Hills and the town.”

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209 Onkaparinga Valley Rd, Oakbank.

209 Onkaparinga Valley Rd, Oakbank.

209 Onkaparinga Valley Rd, Oakbank.

Mr Weston said a growing interest in the Adelaide Hills and a lack of accommodation, even for Airbnbs, meant it was a much-needed project and one developers were keen to deliver.

“I’ve had 35 direct inquiries but four of them I would call strong industry inquiries,” he said.

“The owner’s not in the industry, he’s just happy selling it to an investor.”

He said the character home wasn’t likely to remain on the 3001sqm site because “it keeps cracking, it’s a problem in itself”.

Property records show the two sites last sold together in 2007 for $500,000.

It is being sold via an expressions of interest campaign that closes at noon on October 24, unless sold prior.

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Convict-built pub seeks new innkeeper

The Old Hamilton Inn will be sold under the hammer. Picture: Supplied

It’s an opportunity that doesn’t come along every day. And one best suited to someone with a passion for history.

Howell Property Group agent Nick Hay has listed The Old Hamilton Inn for sale, along with an adjoining large brick barn.

He described them as “survivors of a bygone era” and an opportunity to restore a piece of Tasmanian colonial history.

However, it will be a project that will come with its challenges. The barn needs a lot of work, and the home — the former inn — will also need attention.

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No.7 George St, Hamilton.

No.7 George St, Hamilton.

No.7 George St, Hamilton. Picture: Courtesy of the property owner

“It has caught the eye of a few people from Hobart and others from interstate,” Mr Hay said.

“There is a scarcity of this type of historic property.

“But it will be a Restorations Australia-style project.

“In many rooms, the old inn features original wallpaper, original horsehair plaster, and a cobblestone bathroom/washroom.

“Working with Heritage Tasmania’s guidance and recommendations will be key.

“A Heritage assessment plan is available with the property.”

Set on 6146sq m of land, The Inn provides accommodation of three to four bedrooms, a separate kitchen, and a bathroom with a claw-foot bathtub.

No.7 George St, Hamilton.

No.7 George St, Hamilton.

No.7 George St, Hamilton.

The Inn was built around 1834 by convicts for John and Elizabeth Collins.

It has also been known as Langdon’s Pub — named after an early owner — The Hamilton Inn, and the Old Inn.

From October 1835 to October 1939, Henry Benjamin was licensee and after that it was bought by the Langdon family.

It operated as an Inn for about 80 years, finally ceasing to operate as a hotel in 1914.

No.7 George St, Hamilton.

No.7 George St, Hamilton.

Mr Hay said it became a private residence shortly after.

“According to local sources, Walter and Ethel Sonners took possession of the property and lived there for close to 60 years,” he said.

“The Sonners family, Walter and brother, George, ran a carting business and used the barn next door as a depot.

“Their horse-drawn transports were primarily employed in carting goods down to meet the railway at Macquarie Plains.

“But with the arrival of the motor vehicle, the barn was no longer needed as a stable, and it found a newer role as a substantial poultry house.”

No.7 George St, Hamilton.

No.7 George St, Hamilton.

While the campaign is only in its early days, Mr Hay’s hunch is that the property will be purchased by an interstate-based history lover looking for a significant restoration project.

“It will be someone who is excited about the opportunity to restore these historic buildings, to become the next custodian and give the buildings new life,” he said.

No.7 George St, Hamilton will be sold at auction on October 25, at 2.30pm. To obtain a set of auction conditions, contact Howell Property Group.

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Michael Ennis and wife Simone buy new $3.1m Sutherland home

Michael and Simone Ennis arrive for the Dally M Awards in Sydney on Monday, Sept. 28, 2015. (AAP Image/Paul Miller) NO ARCHIVING

Fox Sports commentator, and the newly-confirmed St George Dragons assistant coach, Michael Ennis and wife Simone have been on the move in the Sutherland Shire.

They’ve paid $3.085m in their relocation to Greenhills Beach, having recently offloaded their Lilli Pilli home for $3.19m.

Their former waterfront bushland home with views over Great Turriell Bay on Port Hacking had been bought in 2021 for $2.95m.

Their newly-built four-bedroom acquisition sits inland within the upmarket Greenhills Beach estate where PropTrack calculate the median sale price sits at a record $3.54m after 18 sales over the past year.

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Michael Ennis and the family. Picture: Mark Evans

The house comes with multiple living zones, with a feature fireplace separating the formal dining and living zones. There are no views from the two-level home.

Earlier this month Ennis, who has been at the Manly Sea Eagles for the past two years, was confirmed as joining Shane Flanagan’s coaching staff at the Dragons. The appointment connects Ennis back with Flanagan, who was the head coach at the Sharks in 2016 when the duo won the premiership.

“I’m really excited to be joining the Dragons,” Ennis said in a club statement.

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Michael Ennis and wife Simone have sold at Lilli Pilli and bought at Greenhills Beach. Picture: realestate.com.au

“It’s a proud club with a rich history, and I’m grateful to Shane and the organisation for the opportunity to be part of the coaching staff. I really enjoyed working with Shane during my playing days at Cronulla, and I’m looking forward to linking up with him again. He’s a coach I have enormous respect for, and I can’t wait to contribute alongside him here at the Dragons.”

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The newly-built four-bedroom acquisition sits inland within the upmarket Greenhills Beach estate. Picture: realestate.com.au

Meanwhile, the Greenhills Beach record was almost challenged last month when an award-winning home on dress circle Shorebird Parade fetched $15m.

The house was designed by Chris Clout Design.

It fell just short of the $15.7m record set last year.

The record holder was Acqua Noir, the bespoke home sold early last year by the Khalil family.

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US birth rate hits record low, housing costs weigh on family planning

The U.S. birth rate fell to an historic low in 2024, continuing a nearly two-decade decline that researchers say is shaped in part by rising housing costs.

The Centers for Disease Control and Prevention reported that the national fertility rate dropped below 1.6 children per woman last year.

The replacement level — or rate needed to sustain the population — is 2.1, a rate the U.S. met roughly two decades ago.

The decline reflects broader social and economic shifts, including delayed marriage and parenthood. But economists and demographers cited in a Realtor.com report point to housing costs as a significant factor.

Home prices outpace wages

“Larger homes that can comfortably accommodate multiple children have become increasingly out of reach for many families,” Hannah Jones, senior economic research analyst at Realtor.com, said in the report. “As prices have far outpaced wage growth, couples may delay homeownership or remain in smaller homes longer, limiting the space available for growing families.”

Median home prices have surged far beyond inflation. In 2006, a single-family home sold for $221,923 on average — equivalent to about $343,806 in today’s dollars.

By 2024, the median price had climbed to $410,100. Over that same span, the fertility rate slid from 2.1 to under 1.6 births per woman.

Research links housing costs to births

A 2012 paper by the National Bureau of Economic Research found a direct link between housing costs and family size.

Economists Lisa Dettling and Melissa Schettini Kearney concluded that a 10% rise in home prices reduces births among non-homeowners by 1% in the average metro area.

Their study examined fertility rates of women ages 20 to 44 across 66 metro areas between 1990 and 2006 — a period when home prices climbed steadily while birth rates remained flat.

The researchers argued that housing represents the single largest cost in raising children, outweighing food, child care and education.

Higher home prices, they wrote, discourage non-homeowners from starting or expanding families.

Conversely, existing homeowners often benefit — using increased equity to support child-related expenses or deciding to have children sooner.

Jones said today’s housing market creates pressure on both sides.

“For prospective parents, the financial stress of competing for scarce, expensive housing can make the prospect of having additional offspring seem less feasible or even risky,” she said.

Housing cycles, geography

Still, housing is not the only driver.

Periods exist when both home prices and birth rates have risen. In the early 2000s, expanding credit and economic growth made larger homes more attainable — and many families had children despite climbing prices.

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But the 2008 financial crisis pushed both housing and fertility down, according to the report.

“The housing bust and Great Recession not only reduced home values but also pushed up unemployment, delaying or derailing the plans of families hoping to buy homes and have children,” Jones said.

Since 2012, home prices have rebounded, but the birth rate has kept falling. Researchers suggest the gap reflects both tighter supply and broader cultural changes — including women delaying childbirth to pursue education and careers.

Geography also matters.

A study by UCLA geography professor William A. V. Clark found that women in costly markets, such as New York and Boston, delay their first child by three to four years.

Clark noted that these regions also have more highly educated women, further pushing back family formation.

Response and outlook

The record-low fertility rate has drawn attention from policymakers.

The Associated Press reported that the Trump administration issued an executive order expanding access to in vitro fertilization and floated “baby bonuses” to encourage more births.

But some researchers say the downturn should not be seen as a crisis.

“We’re seeing this as part of an ongoing process of fertility delay,” said Leslie Root, a University of Colorado Boulder researcher studying fertility and population policy. “We know that the U.S. population is still growing, and we still have a natural increase — more births than deaths.”

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Katie Sweeney, AIME lawsuit escalates as broker group files counterclaims

Katie Sweeney, the former top dog at the Association of Independent Mortgage Experts (AIME) and the current executive vice president of strategy and broker advocacy at Rocket Pro, is denying claims by AIME that she misrepresented her role, concealed conflicts and awarded herself payments she wasn’t entitled to.

Sweeney is suing the trade group for more than $280,000 in unpaid bonus and severance payments. Sweeney originally filed suit in February in Texas’s Tarrant County District Court, claiming that AIME breached a 2024 transition agreement that promised her a $240,000 bonus and $240,000 in severance across 12 months after her March 2024 resignation.

Only Sweeney and AIME are listed as parties in the lawsuits.

Sweeney claims that AIME failed to pay the bonus by its Feb. 29, 2024, deadline and stopped making $20,000 monthly severance installments in January after paying nine of 12 installments. Sweeney made several demands and inquiries regarding the payments, the suit shows.

“On January 31, 2025, AIME responded, acknowledging Sweeney’s January 27th demand letter but advising that AIME is ‘investigating’ the Agreement and that, while its investigation is pending, AIME will not be making any payments to Sweeney,” the suit states.

AIME, however, filed a notice of removal on April 10, 2025, which moved Sweeney’s lawsuit out of the Texas state court and into federal court. The group then fired back with an answer to the complaint on April 17 — outlining several counterclaims and allegations that Sweeney arranged her own exit package, pressured AIME President Marc Summers to sign it, and directed more than $900,000 in payments to herself between 2021 and 2024.

AIME also noted in the April 17 document that Sweeney steered contracts and sponsorships to entities in which she had an interest, including the Broker Action Coalition (BAC) and Brokers are Better, now known as The Mortgage Xchange.

AIME is now asking the federal judge to declare the transition agreement void. It argues that the document violated bylaws that barred compensation for directors and was never approved by its board. AIME is also seeking to rescind payments already made to Sweeney.

In an August court filing that answered AIME’s counterclaims, Sweeney denied wrongdoing and said the group already acknowledged her 2023 bonus and approved her transition agreement. She also argued that United Wholesale Mortgage (UWM) chief marketing officer Sarah DeCiantis, not AIME’s president alone, negotiated and revised the terms of her exit.

In its amended answer and counterclaims, filed Sept. 10 in the U.S. District Court for the Northern District of Texas, AIME denied that Sweeney was ever the CEO, describing her instead as board chair.

Several reports published during Sweeney’s time at AIME, however, referred to her as the group’s CEO, including a 2021 HousingWire article announcing Sweeney’s promotion.

Sweeney’s lawsuit seeks damages of $280,000 plus attorneys’ fees and interest.

“For more than 5 years, I dedicated all of my time and energy to helping independent mortgage brokers build stronger, more diverse businesses,” Sweeney said in a statement. “My legal claims are based on facts of a mutually signed agreement, and I will continue to fight back against efforts to intimidate or discredit me.

“This is about standing up to legal bullies and ensuring that brokers and the communities they serve have fair and honest advocates on their side. I look forward to sharing more of my experiences from my tenure at AIME throughout the course of this process.”

Neither AIME nor its legal team responded to HousingWire’s request for comment, nor did UWM, The Mortgage Xchange or Sweeney’s lawyers.

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Luxury townhouses tap in to billionaire’s peninsula boom

Luxury new two and three-bedroom townhouses are on the market at 86 Fenwick St, Portarlington.

Billionaire businessman Paul Little’s investments in Portarlington are driving developers to seize their opportunity in the Bellarine Peninsula lifestyle town.

Much has been made of Mr Little’s efforts in the town, including upgrading the Grand Hotel and introducing a daily ferry service to Melbourne, and luxury apartment and townhouse developments have followed.

The latter is a complex of eight luxury townhouses at 86 Fenwick St.

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Luxury new two and three-bedroom townhouses are on the market at 86 Fenwick St, Portarlington.

The project comprises seven two-bedroom and one three-bedroom townhouses, each spanning two storeys in a gated complex with private decks and gardens.

Shanelle Property director Stuart Atkins said potential buyers were waiting to see the finished product.

“We’ve had people from Melbourne that are moving down, retirees, local people that are just wanting to downsize from a 850sq m block of land that’s an older house and get something new,” he said.

The project is a collaboration between Apex Building Design Studio and Barking Dog Builders, providing a choice of five different layouts over two levels, with each residence featuring an open-plan design, high-end finishes, and a garage.

The kitchen at 8/86 Fenwick St, Portarlington, includes a butler’s pantry.

A timber staircase separates the floors.

Finishes include engineered oak floors and high square-set ceilings, ground-floor living and dining adjoining kitchens appointed with Bosch appliances, stone benchtops and custom joinery.

Mr Atkins said the wide street frontage enabled the design to create bigger spaces, including double-storey homes with back gardens.

“We haven’t been compromised on the size of them, because the average size of the secondary market there – the 50 to 60-year old units, they’re about 80sq m. Our smaller ones are 118sq m, so it’s bigger, more modern,” he said.

“We wanted to achieve something that felt safe and secure. There’s automatic gates at the front and out the back a tall Colorbond fence. You still get the morning sun, but you feel very safe.

The kitchen at 3/86 Fenwick St.

The living space opens to a private courtyard.

“If they want to go away, they can set and forget. And if they’ve got grandkids, the bedrooms are unusually large so you can get a couple of single beds, or a bunk bed in there.”

Fletchers Bellarine agent Ben Roberts said the townhouses have all the bells and whistles to allow people to enjoy the position and the town, that’s surrounded with many attractions.

“They’ve got big bedrooms, good glazing, good light and an architectural design. They’re super courtyards, super-private,” Mr Roberts said.

The homes are a short walk from the main street of Portarlington.

“But also for a lock-up-and-leave weekender, people getting the ferry from Melbourne down to accommodation on the Bellarine, which as we know, is tight.

“You’re 200m from the coffee shops, 500m for a beer at the pub and 700m to the ferry back to Melbourne, so as far location goes without being on the main street, it’s as good as. And it’s a quiet, wide street.”

Fletchers Bellarine agents Ben Roberts and Mary Garrett are marketing the townhouses, which range in price from $895,000 to $980,000 up to $1.35m-$1.45m.

The post Luxury townhouses tap in to billionaire’s peninsula boom appeared first on realestate.com.au.

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