Developers List Custom Rose Bay Masterpiece with Massive Price Expectations

The former waterfront block of Easybeats guitarist Harry Vanda in Rose Bay has been transformed into one of Sydney’s most expensive modern residences.



Property developer Stuart Rose and his wife Irina wrapped up a four-year construction marathon on the site, swapping a modest 1980s dwelling for a glass-wrapped compound. Decades earlier, the block belonged to Harry Vanda, lead guitarist of legendary rock outfit The Easybeats, before changing hands in 2015. Now, the finished product stands as a heavy-hitting contender ready to test the absolute ceiling of the eastern suburbs housing market.

Panoramic harbour views anchor every level of the five-storey floor plan. Real estate agents handling the campaign point out that the dwelling sits directly in the path of the Sydney Opera House and Harbour Bridge. 

Instead of traditional brick walls, massive panes of glass frame the skyline, pulling the outside scenery straight into the living spaces. A private lift whisks residents from the lower recreational depths right up to a flexible top floor that easily converts into a self-contained apartment.

Beneath the sleek surfaces lies an entertainment complex built for high-end hosting. A subterranean level houses a private cinema, a full music and library room, a games room, and an auxiliary kitchen. Next door, a temperature-controlled wine lounge centres around a custom fireplace and bar.

Stepping outside reveals a mosaic-tiled infinity pool that spills toward a manicured lawn, complete with a private boathouse and a harbourside loggia for aquatic arrivals.



Cooking enthusiasts get a double dose of luxury via a central marble kitchen with hidden appliances and a separate butler’s pantry boasting dual Wolf ovens. Health and wellness take over a dedicated fitness wing featuring an integrated spa zone overlooking the water. With seasoned agents Brad Pillinger and Michael Pallier steering the campaign, local observers are watching closely to see if this coastal masterpiece can officially join Sydney’s ultra-exclusive nine-figure club.

Published Date 23-September-2026

Rose Bay Among Sydney Suburbs with Double-digit House Price Decline

Whilst a few suburbs have managed to defy the downward trend and post price growth over the 12-month period ending in December 2018, the slumping Sydney housing market saw several of its suburbs, like Rose Bay, record double-digit median house price decline, as revealed by the latest data from Domain Group.

Rose Bay is among the Sydney suburbs that recorded a sharp year-on-year median house price decline, the Domain House Price Report – December Quarter 2018 said. The median house price in Rose Bay for the 12-month period ending in December 2018 is at $3,375,000. That’s a decline of 17.50 percent from the year before.

The latest data from realestate.com.au, on the other hand, shows the median house price in Rose Bay at $3,600,000, based on 66 houses sold from 1 Feb 2018 to 1 Feb 2019, still higher than the NSW median of $700,000.

Penshurst was the hardest hit suburb with a year-on-year decline of 19.70 percent for a median house price of $1,060,000. Following Penshurst was Lane Cove (-18.2%), Glebe (-17.7%), Rose Bay (-17.5%), Redfern (-16.8%), Castle Hill (-16.6%), North Bondi (-16.1%), Peakhurst (-15.8%), Lindfield (-15.7%), and Forestville (-15.6%).

Video Credit: Domain / YouTube

Over the year to December 2018, Sydney’s median house price dropped 9.9 percent to $1,062,619, its steepest decline in two decades, pushing house prices back to mid-2016 levels. In the December quarter alone, prices have fallen 3.2 percent and many regions recorded double-digit year-on-year declines, led by the South with a 14.80 percent median price decline.

Prospects for the Sydney market recovering anytime soon remain uncertain as experts are split on when the downward trend will bottom out. Contraction was triggered by reduced foreign buyer demand and more supply flooding the market, coupled with strict lending conditions and jitters over possible tax changes.

Coming from a bullish market that saw prices skyrocketing in mid-2017, the contraction  in the Sydney housing market is seen as a welcome relief for first-time buyers as houses and units become more affordable. Increased affordability could help bring buyers back, but declines should remain at a slower pace to keep peak-to-trough price fall under 20 percent, experts say.