Former media power couple Lisa Wilkinson and Peter FitzSimons are readying to move into a new luxury $15m penthouse, following the sale of their Mosman mansion.

It was revealed on Monday, Wilkinson and FitzSimons had finally sold their long-time Mosman home after it failed to sell at auction followed a $24.5m vendor bid.

The home was listed in August with a price guide of $23 and it is believed to have sold much closer to that figure rather than its auction high.

The former Channel 9 presenter and Nine Media columnist are moving mere minutes away, preferring to stay in the exclusive confines of the affluent Sydney North Shore suburb of Mosman.

They have snapped up a four-bedroom, two bathroom penthouse with a massive 534m of floor space.

It’s a move the couple have been planning for a while, with property records indicating the home was sold in February.

The home was snapped up for $15m – around 17 times the average price for a Sydney unit.

FitzSimons recently wrote on X: “The gap between rich and poor has been getting ever wider”.

The home is a ”Landmark residence with a spellbinding harbour panorama” according to the listing, it is the first time the property has changed hands in over 20 years.

“Gracing the top level of a heritage-exterior sandstone building constructed in 1914, it revels in a stunning showcase of timeless elegance blending effortlessly with contemporary luxury across an impressive 534 sqm.

“Sun-drenched interiors wrapped in expansive wall-to-wall sliding windows frame the extraordinary harbour views magnificently and provide the ultimate scenic backdrop to the expansive open-plan living.

“With refined modern appointments and lavish accommodation this showpiece residence also has an expansive full-length rooftop. Bathed in a 360-degree panorama stretching from Mosman Bay to the Eastern Suburbs, CBD and beyond this spectacular backdrop becomes even more animated during celebrated events like the New Year’s Eve fireworks, Sydney to Hobart yacht race, where sails dot the horizon in a setting of unrivalled splendour.

“Sharing the iconic building with only five other residences, this prestigious opportunity is steps from the Circular Quay-bound ferries of Mosman South Wharf and moments to Mosman Village.

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Regional Australia’s property boom has outpaced the national average by 14.1 per cent in the past decade, and that growth is being driven by two powerful forces.

Research by Ray White senior data analyst Atom Go Tian found that people escaping expensive city prices for lifestyle benefits, and the boom-bust cycles of commodity markets, were behind the rapid growth in regional home prices.

“The affordability story started before the pandemic, as Sydney and Melbourne buyers sought coastal and country alternatives,” he said.

“The pandemic accelerated this trend when remote work made regional living more viable for city workers.

“The commodity story is different as it is tied to global demand for Australia’s resources like iron ore, coal, and lithium.

“When prices are up, mining towns boom. When they fall, these communities struggle.”

Mr Tian said that for the first half of the last decade, price growth between regional and national Australia were relatively similar with regional Australia performing only 2.4 per cent better than national.

However, the pandemic was a key turning point.

“From 2020 onwards, house price growth in regional Australia began to diverge from national house price growth as a combination of affordability-driven lifestyle migration and commodity cycle booms,” he said.

“Between 2015 and 2020, regional house prices have grown 98.8 per cent to $688,000, while national house prices have grown only 84.7 per cent to $950,000.

“As it stands regional house prices represent just 72 per cent of national house prices, up from around 65 per cent historically and the closest this price gap has ever been.”

Looking forward, Mr Tian said that the transformation of regional Australia from 2015-2025 revealed two distinct growth engines rather than a single regional market.

“Affordability-driven migration powered NSW and Victoria’s early success, then spread to South Australia as those markets became expensive,” he said.

“Buyers seeking lifestyle benefits at lower prices have driven sustained demand in coastal and country areas.

“Commodity cycles created the dramatic swings in Queensland and WA’s mining regions. These areas declined when prices fell, then surged when global demand for Australia’s resources recovered.

“As regional prices rise closer to city levels, successful regional markets are becoming less about being cheap alternatives and more about offering genuine economic opportunities alongside lifestyle benefits.”

HOW THE REGIONS COMPARED

Regional NSW: “Growth has slowed”

Regional NSW was an early standout performer, growing 18.3 per cent between 2015 and 2019, the research found.

Sydney’s high prices drove buyers to seek coastal and country alternatives in areas like the Southern Highlands, Byron Bay, and Newcastle.

“Strategic infrastructure investments helped accelerate this trend,” Mr Tian said.

“The Rebuilding NSW program, Pacific Highway improvements, and regional rail upgrades made these areas more accessible and attractive to city buyers.

“This early momentum paid off during the pandemic, with regional NSW achieving strong 51.7 per cent growth as the lifestyle shift accelerated.

“Post-pandemic, growth has slowed but remains solid at 13.0 per cent between 2023 and 2025.”

Regional Victoria: “Market exhaustion”

Regional Victoria saw the strongest pre-pandemic growth of any regional market with 24.2 per cent increase in house prices from 2015 to 2019.

Like NSW, Melbourne’s affordability pressures drove buyers to areas like Geelong, Bendigo, Hume, and Ballarat.

“Early infrastructure investments also worked to position Victoria perfectly for the pandemic lifestyle boom, matching NSW with virtually identical 51.5 per cent growth,” Mr Tian said.

“However, Victoria now shows clear signs of market exhaustion.

“Post-pandemic growth has been the weakest nationally at just 3.1 per cent between 2023 and 2025.

“This sharp decline reflects Melbourne’s broader market cooling that has reduced the metropolitan spillover effect that drove much of the regional demand.

“Victoria faces more severe capacity constraints than NSW’s more geographically diverse regional markets.”

Regional Queensland: “Exploded”

Regional Queensland’s house market tells two distinct stories: the boom-and-bust cycles of mining towns and the steady rise of premium coastal areas.

Before the pandemic (2015-2019), the region barely grew at just 1.5 per cent.

The Gold Coast and Sunshine Coast performed well with 12 per cent and 14 per cent growth respectively.

But mining areas like Central Queensland, Townsville, and Mackay declined by around 10 per cent.

“During the pandemic, coastal markets exploded,” Mr Tian said.

“The Gold Coast and Sunshine Coast saw massive growth of 56 per cent and 58 per cent. “Mining regions also bounced back strongly with 31 per cent growth as the economy shifted.

“After the pandemic, coastal growth continued but slowed to a more sustainable 26 per cent for the Gold Coast and 22 per cent for the Sunshine Coast.

“Meanwhile, mining regions hit their stride. As commodity prices recovered, these areas saw their best performance in a decade with 50 per cent growth between 2023 and 2025.”

Mr Tian said that this combination of coastal stability and mining recovery drove overall regional Queensland post-pandemic growth of 37.4 per cent, positioning it to become Australia’s most valuable regional property market.

Regional Western Australia: From population exodus to housing shortage

Regional WA demonstrates dramatic commodity cycle volatility.

The state shows the strongest post-pandemic growth at 45.2 per cent following a severe pre-pandemic decline of -11.8 per cent.

“When iron ore prices collapsed from 2014-2019, it devastated regional economies,” Mr Tian said.

“Towns that relied on mining services and agricultural exports to China saw their populations shrink.

“The current surge reflects iron ore recovery and WA’s emergence as a critical lithium supplier for global battery production, alongside traditional agricultural export strength.

“Regional WA communities that experienced population exodus now face acute housing demand from returning mining workers, creating genuine supply-demand imbalances driving price growth.”

Regional Tasmania: Like Victoria, the market is exhausted

Regional Tasmania saw the second-strongest pre-pandemic growth nationally at 30.2 per cent between 2015 and 2019.

This growth began as part of Australia’s broader trend of affordability-driven lifestyle migration.

“Mainland buyers, particularly from Sydney and Melbourne, found they could access significantly lower house prices in regional cities like Launceston, Burnie-Ulverstone, and Devonport with strong lifestyle appeal,” Mr Tian said.

“This early momentum accelerated dramatically during the pandemic, with regional Tasmania recording the highest pandemic growth of 74.4 per cent.

“Remote work made the island’s geographic isolation irrelevant for many professionals, while its clean environment and outdoor lifestyle became highly desirable during lockdowns.”

However, like Victoria, Tasmania now shows signs of market exhaustion.

Post-pandemic growth has slowed to just 2.4 per cent between 2023 and 2025, the second-weakest performance nationally after Victoria.

“This decline reflects Tasmania’s unique constraints,” Mr Tian said.

“Unlike mainland states, the island has limited land suitable for development, restricted transport links, and a small local economy.

“At current prices of $553,000, still below national house prices but up dramatically from pre-pandemic levels, regional Tasmania has priced out many local buyers while reaching affordability limits for mainland migrants.

“The market appears to have absorbed the initial wave of lifestyle-seeking buyers, with few new arrivals to sustain growth momentum.”

Regional South Australia:Escape valve

“SA represents a third distinct pattern within Australia’s regional narrative,” Mr Tian said. “Regional SA’s minimal pre-pandemic growth (0.06 per cent) reflects economic challenges including disproportionate impact from automotive industry closures, sustained population outflow to eastern states, and limited economic diversification.

“Before the pandemic, regional SA remained largely stagnant as young people migrated to higher-opportunity markets.”

However, current acceleration (43.0 per cent post-pandemic) positions SA as the affordability escape valve for buyers priced out of NSW and Victoria’s regional markets, the research said.
“As those markets matured and became expensive, buyers discovered SA offered comparable lifestyle benefits at substantial discounts while maintaining economic stability,” Mr Tian said. “The evolution of wine regions like Barossa Valley toward premium products, combined with defence industry expansion in centres such as Adelaide Hills, has created diverse economic foundations supporting sustained demand.”

Regional NT: Stuck on Struggle Street

Regional NT represents Australia’s most challenged regional market, with consistently weak performance including pre-pandemic decline (-3.3 per cent), the lowest pandemic growth nationally (14.5 per cent), and near-stagnant post-pandemic performance (0.9 per cent), the report revealed.

“Unlike SA’s successful positioning as an affordability alternative, NT’s low house prices at $467,000 haven’t translated into buyer interest,” Mr Tian said.

“Suggesting that affordability alone cannot drive regional market performance without accompanying lifestyle amenities, economic opportunities, or geographic accessibility that characterise successful regional markets elsewhere.”

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ANALYSIS

The RBA left the cash rate on hold as expected today.

It had no choice. A cut would have been very out of character for the central bank, because its two favourite moves are a hold and a hike, followed by daylight in third and then a reduction. A hike would not have been a surprise.

In fact, murmurs are growing louder that a cash rate rise will be the next RBA move. It could happen before Christmas, or in February, as Aussies are recovering from peak spending season.

As the RBA keeps telling us, its job is to keep inflation under control. And if the September quarter CPI surge turns out to be a trend, rather than a one-off, the cash rate will be hiked again.

Inflation is another dilemma in a crowded field of problems for Australia’s property market, which, if we’re fair dinkum, is a sh*t show right now, with a horror year awaiting buyers, sellers, borrowers, developers and the workforce.

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Price growth surge

Falling interest rates have played a part in boosting demand for homes and pushing prices up. But they haven’t fallen enough to make property any more affordable.

Ray White’s October House Price Report revealed annual growth in house prices has hit 10.6 per cent, passing double digits for the first time since the exaggerated price boom of the Covid-lockdown era, when the cash rate was 0.1 per cent.

Ray White group chief economist and report author Nerida Conisbee said growth has accelerated faster than anticipated.

“In our September report, we noted that double-digit annual growth was likely to be confirmed by the end of the year,” Ms Conisbee wrote. “That milestone has come sooner than anticipated, driven by stronger-than-expected October gains and continued tight supply across most markets. This underscores how resilient demand has remained through spring.”

Flood of demand

Property markets all over Australia already have a supply and demand imbalance, with nowhere near enough stock to go around.

The last month has seen a further surge in demand, brought on by the October commencement of the extension to the federal government’s Home Guarantee Scheme, which allows more first-home buyers (FHBs) into the market with just a 5 per cent deposit.

Data from Loan Market, Australia’s largest mortgage aggregator, revealed an instant 40 per cent surge in FHB applications, when comparing average weekly application volumes to the previous three months.

Loan Market broker Max White said the scheme had caused an immediate enquiry boost.

“As soon as news came out that the changes to the Scheme would be introduced in October rather than next year, first-home buyers reached out to get pre-approved with lenders who participate in the Scheme,” he said. The FHB influx into the market adds to the demand from high immigration rates in recent years and the upgraders who have extra borrowing power thanks to recent rate cuts.

And while all this demand sounds like good news for sellers, most of them do become buyers after they sell.

Supply disaster

SQM Research has revealed an October surge in property listings, with homes on the market up 10.9 per cent month on month.

But before we get too excited, it’s important to note listings remain 0.3 per cent down year on year.

SQM research director Louis Christopher noted that it was a big monthly listings jump, “even for spring”, as vendors appear more confident of finding buyers.

That level of supply, however, is not enough to meet demand and the challenges around developing new property remain dire.

After the first full year of the federal government’s national housing accord- the five year target of 1.2 million homes built- ABS data showed we are already 60,000 homes behind target.

Meanwhile, new ABS data has revealed new build costs have hit record highs in NSW, Qld and South Australia, putting further pressure on the sector and making further interest rate cuts- very much needed by developers- more unlikely.

Housing Industry Association senior economist Tom Devitt said that on current forecasts, “we are expecting that detached housing will get close to 600,000 over five years… But the shortfall is mostly in the medium and high density that needs to do the other half.”

Financial pressure

A survey by Digital Finance Analytics revealed rising mortgage stress levels across Australia, even in a year with three rate cuts.

Rises in electricity, insurance and grocery costs had outpaced any savings banked from falling mortgage interest rates, leaving more than 50 per cent of borrowers in some states under mortgage stress.

Adding to the financial pressure, is the sticky inflation, which came in far higher than the RBA forecast in the September quarter; and the recent rise in unemployment to 4.5 per cent, which would have until quite recently presented a strong case for a November rate cut. Now, if anything, it has served as a reason not to hike, or an excuse for the RBA to do its other favourite thing… wait for the next data set.

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Brisbane’s ‘Gucci mansion’ has sold for a new suburb record after the owners snapped up a luxe waterfront home on the Sunshine Coast for $16.95 million earlier this year.

Mark Seery of MDS Accounting & Financial Services and his wife, Lisette, bought 29 Laidlaw Parade in East Brisbane for $12.55 million in May 2022, setting the suburb recor dback then.

While the latest sale has not been disclosed, it is understood to have sold for north of $13.1 million on November 1.

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The couple listed the striking residence, dubbed the Gucci mansion, after purchasing 78 Noosa Parade at Noosa Heads in July.

The tri-level East Brisbane residence was marketed by Ray White New Farm agents Matt Lancashire and Will Blewitt, and was described as a “modern palazzo”.

“Masterfully designed by the renowned Greg Natale and constructed by CHS Building, the predominantly dark palette is dramatic, curated, and imbued with rich layers and refined textures,” the listing said.

“Sculpted curves, traversing arcs, and marble motifs exude modern indulgence, while stucco walls, designer wallpapers, and luminous brass elevate the enduring elegance.”

North-facing with 15m of absolute river frontage, the 920sq m residence sits on a 597sq m block and has five bedrooms, 6.5 bathrooms, a study, a master suite with a fireplace retreat, dressing room and ensuite, a library/piano room, poolside living spaces, a theatre and a wellness centre with a gym, sauna, steam room and a marble bathtub for cold plunges.

It was one of several big sales over the weekend for Lancashire and Ray White auctioneer Haesley Cush, who called auctions for a number of high-end properties on Saturday at The Calile Hotel.

Three properties alone sold for a combined $24,225,000 — 247 Kent St at New Farm ($7.625 million), 157 Adelaide St in Clayfield (not disclosed) and 25 Villiers Street in New Farm (sold prior).

But the top sale of the day was 26 Elystan Road in New Farm, which sold under the hammer for an eyewatering and record-breaking residential auction record of $18.5 million.

The 26 Elystan Road property, which was designed by Tim Stewart Architects, attracted 10 bidders.

While the sale price of $18.5 million does not eclipse the all-time New Farm record of $20.5 million, it easily eclipsed Brisbane’s previous residential auction record.

Lancashire posted to social media that his team had achieved a 100 per cent clearance rate, with over $57 million in properties sold.

“To top the day off, we also sold 29 Laidlaw Parade, East Brisbane, setting the new suburb record and a benchmark result for riverfront homes,” he said.

Speaking of the 26 Elystan Rd property, Cush said that: “Bidding opened at $10 million and rolled quickly in $1 million bids to $15 million”.

“Then we moved to $17 million before it broke down – it went on the market at $18 million and the buyer shook his head,” he said.

“On the third call, he went to $18.1 million, and then it went back and forth to $18.5 million.”

The seller worked in construction and the buyer was a local bidding over the phone.

“All the properties today sold to local buyers,” Cush said.

“The excitement in Brisbane and the confidence from locals show exactly where the market is heading. When locals are sensing it; others will follow.”

Meanwhile, a new build at 64 Angliss St in Wilston sold under the hammer for $4.4 million, a townhouse in Balmoral sold for $2.422 million, another townhouse in Paddington went for $1.36 million, and a property at Enogerra changed hands for $1.562 million.

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What do a Sydney investor, a buyer from Queensland and a gentleman from Hawthorn have in common?

They’ve all seen the potential for capital growth in Geelong real estate.

The latest evidence of buyers targeting Victoria’s second city came as a pair of 1950s houses was auctioned for $1.115m.

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The sale well above the $920,000 to $1m price expectations at 1-2 Little Richmond St, Geelong is a further reflection of the fear of missing out on snapping up a comparative bargain as the Geelong region emerges from a two-year downturn in the market.

McGrath Geelong agent Georgie Shaw said the Sydney buyers agent landing the winning bid, edging out the Hawthorn bidder by $5000.

“All the bidders were investors – one from Melbourne, one from Queensland and one from Sydney,” Ms Shaw said.

In fact, nearly 80 per cent of the interest in the property was out of Sydney.

“They have really earmarked Geelong to be a growth spot to be investing in,” she said.

But the property had its own criteria that stood out to buyers.

“The reason it was so popular was it offers a great yield and capital growth,” Ms Shaw said.

“With a lot of investment properties you are holding on for capital gain but not always yield.

“Not on this property, because it had two separate dwellings – both three bedrooms houses.”

The 1111sq m landholding was key to the capital growth, with subdividing and even development further options open to the new owners.

One investor was interested in knocking down the dwellings and building half a dozen townhouses on the site behind Richmond Crescent, she said.

“They were really solid 1950s brick and the land was about 1100sq m so you’re essentially getting two small houses on 500sq m each,” Ms Shaw said.

“You’re getting large grass open spaces, beautiful big trees and a really super-quiet spot where you’re five minutes from the waterfront or from GMHBA Stadium and the train station.

“And the yield was great, so for an investor they’re getting the rental income from two properties on the block. That’s why the strength was there.”

The property had previously been listed for sale in 2024 at $1.29m.

Recent PropTrack data reveals 3 per cent annual growth to $892,000 for the median house value in the suburb of Geelong, with units pegged at $573,000.

In comparison, the median value of units in Sydney is $874,000, while a typical house value is at $1.6m.

Henning Property director and buyers agent John O’Brien said most investment buyers from interstate are drawn to the comparative value available in Geelong, but also see the future upside.

“There’s a feeling at the moment is there’s a mad rush to get in while the state of recovery is happening in our property cycle and 2026 will be the year that really delivers capital growth,” he said.

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