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Double Bay Tops ATO List as Australia’s Wealthiest Postcode

The Australian Taxation Office (ATO) has disclosed the latest figures on the nation’s wealthiest and least affluent postcodes, with Sydney’s harbourside suburb of Double Bay once again securing its place as Australia’s richest locality.

The suburb, affectionately nicknamed ‘Double Pay,’ saw its residents earn an average of $354,308 during the 2021-22 income year, a figure significantly surpassing the national average income of $72,327.

Double Bay’s substantial average income underscores its elite status, with the area’s earnings more than four times higher than the national average. This prestigious neighbourhood has consistently topped the wealth rankings, maintaining its allure and affluence over the years.

*Photo Credit: Screengrab from Google Map*

Following Double Bay, Perth’s affluent locales of Cottesloe and Peppermint Grove, which share the postcode 6011, ranked second on the list. The residents of these areas reported an average income of $295,283. These suburbs are notable for being home to some of Australia’s most influential figures, including billionaire mining magnate Andrew ‘Twiggy’ Forrest, former CEO of Fortescue Metals Group.

Sydney continues to dominate the upper echelons of the income ladder, with Darling Point, Edgecliff, and Point Piper (postcode 2027) securing the third spot. The average income in these harbourside suburbs reached $269,777. Among its notable residents is former Prime Minister Malcolm Turnbull, who resides in a waterfront mansion in Point Piper with his wife, Lucy.

In addition to highlighting the wealthiest postcodes, the ATO report also sheds light on the highest-earning professions. Surgeons led the pack with an impressive average income of $460,356. Anaesthetists came in second, earning an average of $431,193. Financial dealers were the only non-medical professionals to feature in the top six, with an average income of $373,733.

While these affluent figures reflect the earnings of top-tier professionals, the average taxable income for Australians in the 2021–22 period stood at $72,327. However, the median income, which provides a more accurate representation by excluding extremely high and low incomes, was recorded at $53,041.

The disparity between the highest and median incomes highlights the economic divide within the country, underscoring the concentration of wealth in specific areas and professions. As Sydney and Perth’s elite suburbs continue to thrive, these figures paint a vivid picture of Australia’s economic landscape.

Published Date 24-June-2024

New Residential Record Set in Vaucluse

A new residential record has been achieved in Vaucluse with the $11 million sale of a semi-detached home at 146a Old South Head Road.

The four-bedroom, two-bathroom property was quietly shopped around off-market by David Malouf of Highland Property Double Bay.

While an $11 million price tag is typical for Vaucluse, it surpasses the previous record for a semi in the harbourside enclave, set last year when 4a Greycliffe Avenue sold for around $10 million.

The Old South Head Road semi occupies half of a 684-square-meter block, featuring a large terrace with views of the city skyline and Sydney Harbour Bridge.

Malouf also handled another headline sale recently — 5a Vaucluse Road fetched $17.3 million at auction, defying the current cooling conditions in Sydney’s high-end market. The renovated 1960s home attracted six registered bidders, with the opening bid coming in at $14.5 million before the hammer fell over $2 million above the $15 million price guide.

According to CoreLogic research director Tim Lawless, properties in the top 25% have shown the slowest growth over the past year as borrowing capacity and affordability impacted demand.

The Vaucluse Road property, previously featured as a “House of the Week,” is in original mid-century condition with multiple living areas, three bedrooms, a pool, sundeck, and courtyard.

Vendors Nagi and Kate Mikhail, who ran the World News newsagency in Darling Harbour, purchased it for $3.6 million in 2013 along with DA-approved plans by local architect Phillip Mathieson to modernise and enhance harbour views.

If executed, the unique DA would create a 502-square-meter grand family home — a rarity, according to Malouf, as it would typically require a 1,000-square-meter block under current guidelines. The four-bedroom design includes an infinity pool, wine cellar, elevator, and security system with sweeping views of Sydney’s iconic landmarks.

Published 10-June-2024

The Yard Gym Bares New Plans After Double Bay Opening

With the opening of its new location in Double Bay, boutique fitness chain The Yard Gym announced its plan to open 400 new stores worldwide by 2025.

Founded by Daniel Bova in Sydney’s southern region during the peak of the COVID-19 pandemic, the gym has rapidly gained momentum, marking its first step towards international expansion.

Collaborating with franchise co-owners Rebecca Cutler, Mike Case, and Talitha Case, the Double Bay branch sets the tone for The Yard Gym’s global expansion strategy.

Mr Bova revealed that the Double Bay outlet is just one among the 70 new franchise locations already sold as part of the broader plan to establish 200 new sites in Australia and an additional 200 in the United States, United Kingdom, Europe, New Zealand, and Asia.

Emphasising their commitment to offering a unique fitness experience, Ms Cutler, co-owner of The Yard Gym Double Bay franchise, highlighted the gym’s member-centric philosophy and community engagement initiatives.

The gym aims to differentiate itself by providing an unparalleled group training experience, offering extra services, and maintaining a luxury boutique gym aesthetic tailored to the Double Bay community.

The Yard Gym in Double Bay prides itself on offering its members a comprehensive range of services. With over 40 classes catering to various fitness levels and age groups, the gym ensures something for everyone.

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A post shared by THE YARD GYM DOUBLE BAY (@theyardgym_doublebay)

Additionally, the gym’s commitment to convenience extends to providing services during weekday morning classes, allowing parents to pursue their fitness goals while their children are supervised.

The Yard Gym traces its roots back to Mr Bova’s backyard training sessions over a decade ago, where he fostered a passion for fitness among his peers. From humble beginnings, the gym has expanded to include two operational sites in the United States, with plans for further growth.

Follow The Yard Gym Double Bay via Instagram for more updates.

Published 21-February-2024

Double Bay’s New and Enhanced Wharf Unveiled

Photo Credit: Facebook / Marjorie O’Neill - Member for Coogee

In a significant development Double Bay now has a newly transformed wharf, aligning with the community’s needs for safer, more accessible ferry access through the State’s Transport Access Program.

The revamped structure, designed after consulting locals, addresses the diverse requirements of ferry-goers and smaller vessel enthusiasts. Through a substantial investment, a modern dual-sided pontoon and gangway now offer step-free access, ensuring a seamless journey from street to ferry.

Enhancements go beyond mere functionality. The wharf’s makeover includes a covered waiting area, weather-protected seating, and improved lighting, promising a comfortable and secure experience.

Photo Credit: Facebook / Marjorie O’Neill – Member for Coogee

Crucially, these upgrades also champion inclusivity. Catering to various needs, the wharf now accommodates individuals with mobility challenges, as well as commuters with luggage or prams. Such considerations reflect a commitment to making public transport universally accessible.

Collaboration underpinned the success of this project. Working in conjunction with Woollahra Council, landside improvements have transformed the area. Footpath upgrades and accessible car parking on Bay Street complement the wharf’s renovations, enhancing the overall accessibility of the precinct.

Adding depth to the transformation is the infusion of indigenous narratives into the wharf’s design. Gweagal artist Shane Youngberry’s work, intricately etched into the connecting structure, weaves a tapestry of indigenous stories. Themes of meeting places and campsites now grace the wharf, celebrating cultural heritage.

Transport Parliamentary Sec Marjorie O’Neill lauded these upgrades, recognising Double Bay Wharf’s status as an iconic facet of Sydney Harbour. Expressing gratitude to the community for their patience, she emphasised the pivotal role of accessibility in enhancing public transport experiences.

Published 4-January-2024

Cybersecurity Breach Rocks Affluent Eastern Sydney Suburbs’ Public Libraries

Library patrons in some of Sydney’s richest neighbourhoods may have had their personal information and partial credit card details stolen in a pre-Christmas cybersecurity breach. The library systems breach, encompassing affluent harborside neighborhoods like Double Bay and Point Piper, was discovered on December 15th.

Cybersecurity breach

The council confirmed that hackers may have accessed library users’ names, contact details, encrypted passwords, and partial credit card information through a software system used for library functions.

The affected libraries are located in the suburbs of Double Bay, Watsons Bay, and Paddington. Woollahra Council has not confirmed how many residents were impacted.

Investigations underway

Council is working with cybersecurity agencies to investigate the incident and has implemented fixes to secure the compromised system. They have begun notifying affected library patrons about the potential breach.

GM Craig Swift-McNair apologised for the attack, emphasising that the council takes privacy and data protection seriously. He encouraged concerned residents to be vigilant about identity theft and potential scams using their information.

The cyberattack highlights that even affluent communities are vulnerable to emerging cyber threats. Residents of Woollahra Council, including former PM Malcolm Turnbull, may have assumed their suburbs were insulated from such breaches.

This incident underscores the need for vigilance and proper cybersecurity measures among organisations and governments serving Australia’s neighbourhoods. The council stated it is doing everything possible to contain the attack and assist impacted community members.

Published 30-December-2023

Miraculous Escape for Babies After Car Accident

Photo Credit: Freepik / standret

Two babies narrowly avoided serious injury after a car accident with their pram on New South Head Road in Double Bay. The incident occurred on December 11, 2023 around 9:40 a.m., prompting an immediate response from emergency services.

Site of the crash

The mother, aged 30, was walking with her two children—a two-year-old boy and a one-year-old girl—when the car veered off the road, striking the pram and crashing into a nearby retaining wall.

Eyewitnesses recounted the frightening moment the babies were thrown from the pram due to the impact of the car accident. Miraculously, despite the intensity of the collision, both babies managed to escape severe harm.

Emergency teams swiftly arrived at the scene and attended to the injured. The mother sustained a minor back injury and was taken to St Vincent’s Hospital. She is reported to be in stable condition.

One of the children, the youngest, suffered a minor facial injury and received treatment at Sydney Children’s Hospital in Randwick. Thankfully, the child has since been discharged. The elder sibling was assessed at the scene and did not require hospitalisation.

NSW Police have confirmed that the driver of the vehicle, who emerged unscathed, underwent mandatory testing. As of now, no charges have been laid, and investigations by the Eastern Suburbs police area command are underway to determine the circumstances of the crash.

Following the removal of the vehicle, police and traffic management teams remained at the scene to regulate traffic flow. The incident caused temporary delays for eastbound motorists before the area was cleared by 11 a.m.

Published 12-December-2023

Plans for Knox Street Pedestrian Plaza Postponed

Plans to build a pedestrian plaza on Knox Street have been knocked back indefinitely due to insufficient funding and significant pushback from the community.

By a vote of 8 to 5 members, the Woollahra Council planning committee has recommended the postponement of the project “due in the main to cost escalations and the resultant insufficient funding.”

It cited that requests for additional funding from the Department of Planning and Environment did not deliver a favourable result as “no extra funding is available at present.”

The pedestrian plaza project, however, received a $4.75-million funding commitment from the NSW Public Spaces Legacy Program but it required the project to be completed by the end of 2022.

Council conducted a series of community consultations for this revitalisation between 2021 and 2022. Whilst some residents said the plan will “vibrancy and vitality to the local area,” others counter-argued that Knox Street could be further congested.

Mayor Susan Wayne advocated for the project, which has ignited a debate among the councillors. Cr Sean Carmichael, who formerly supported the pedestrian plaza, reversed his stand after he saw that both residents and businesses on Knox Street were not behind the proposal.

However, the General Manager of Woollahra will still continue to investigate and look for alternative pedestrian plaza projects in Double Bay that could fall under the NSW Public Spaces Legacy Program. Options will be presented in the next Council meeting on the 5th of December 2022.

New Knox Street Pedestrian Plaza Coming Soon

Photo Credit: Woollahra Municipal Council / yoursay.woollahra.nsw.gov.au

A new pedestrian plaza is coming to Knox Street, Double Bay. Despite some opposition, Woollahra Council endorsed the concept design and agreed to push through with the plans.

Amid concerns from residents and business owners, including traffic and loss of parking, the planned transformation of Knox Street into a pedestrianised plaza will push through, utilising the $4.75 million NSW Government grant under its Spaces Legacy Program.

The proposed plan will involve a section of Knox Street between the Bay Street intersection and Goldman Lane. The development will deliver new lighting, planting, public art and seating.

“The new plaza will provide extra space for people to gather, rest and relax in a leafy and welcoming environment. It will also create potential for new events, markets, activations and outdoor dining experiences in an already well-loved and inviting part of Double Bay,” the Woollahra Council page said.

Landscape plan | Photo Credit: Woollahra Municipal Council / yoursay.woollahra.nsw.gov.au

Guilfoyle Square | Photo Credit: Woollahra Municipal Council / yoursay.woollahra.nsw.gov.au

Outdoor Dining Pads | Photo Credit: Woollahra Municipal Council / yoursay.woollahra.nsw.gov.au

Secret garden and Knox Street | Photo Credit: Woollahra Municipal Council / yoursay.woollahra.nsw.gov.au

The concept design was placed in a public exhibition last February 2022 which drew 97 online submissions and 64 submissions via email. Whilst some are supportive of removing cars from the street and giving priority to pedestrians, others expressed concerns over possible traffic congestion and removal of parking.

“The Knox Street Pedestrian Plaza concept design has received support in regards to the design through the public exhibition and it is recommended that Council proceed with detailed design and construction to provide the Double Bay Commercial Centre with a vibrant and engaging space that gives Double Bay an exciting new destination.,” the Council’s Finance, Community & Services Committee Meeting Report said.

The next stage will involve the development of a detailed design and tender process for the construction of the project. The Knox Street pedestrian plaza is expected to be completed in late June 2023.

For more information and updates about the Knox Street Pedestrian Plaza, click here.

New Cinema Complex Coming To Double Bay

Double Bay will score a new local cinema after plans have been revealed that the car park at Cross Street will be demolished to make way for a new cinema complex with retail and community spaces.

Read: New Public Plaza to Open on Knox Street, Double Bay

The new complex is a welcome addition to Double Bay after its only cinema, the Greater Union Cinema, closed back in 2004. Since then, there have been a few proposals to open one in the area but no cinema has opened until now.

The closest ones from Double Bay are the Palace Chauvel Cinema at Oxford St in Paddington and Event Cinemas Bondi Junction.

Aside from a multi-screen cinema complex, the development will also feature a new office space; around 4,000sqm of residential space, including an estimated 18 apartments and car park; a dedicated community space and a new 380-space basement public car park.

The car park will have the same number of public parking spaces, with additional parking for patrons and tenants.

cross st double bay — Public car park at Cross St, Double Bay (Photo credit: Google Street View)

The redevelopment of Cross Street Car Park is a project of Woollahra Council in partnership with Pallas Group, Assembly Funds Management and Fortis.

Craig Swift-McNair, General Manager of Woollahra Council said that the proposal will enhance the Double Bay centre’s social, cultural, and commercial life and affirms the Council’s ongoing commitment to revitalising the area.

“This is a great result for the community, and will complement the significant improvements to Double Bay delivered in recent years by Council, including an award-winning library, the highly-successful Kiaora Place redevelopment, and ongoing revitalisation of the commercial precinct, which has been a major focus for Council,” Mr Swift-McNair said.

“Importantly, the project will be delivered at no cost to Council or ratepayers, while adding valuable new assets which will provide long term benefit to the community.”

The project is now in the planning stage, which involves extensive public exhibition and community consultation at both Planning Proposal and DA stages.

Construction is anticipated to commence in 2024 or 2025.

Customers Express Concerns Over Double Bay Restaurant’s Dress Code

Popular Middle Eastern restaurant Bedouin in Double Bay has instituted a dress code which prohibits people with visible tattoos, heavy jewellery, and designer-labelled clothing from entering the premises.

Read: Melbourne’s Favourite Bakery Opening New Location In Double Bay

The strict dress code, which reads, ‘no visible tattoos,’ ‘no designer labelled apparel,’ and ‘no heavy jewellery’ was posted on a sign near the door.

Some concerned locals, including previous patrons couldn’t help but express their dismay on social media.

“I couldn’t get in because I have tattoos – even though I have no criminal record and have served my country in the army,” said AD Darbs.

Acknowledging the public’s opinions, Woollahra Councillor Richard Shields revealed he does not favour the new policy. Although he’s not a fan of tattoos, he thinks people with tattoos have the right to express themselves in that way.

Despite some criticisms, there are a few who believe Bedouin had the right to set its own house policies, including releasing a dress code.

The restaurant and bar, which opened along Cross Street in 2018, is run by a team of managers who were formerly part of fine dining establishments.

Inside the restaurant (Photo credit: Bedouin Double Bay/Facebook)

Besides their Lebanese-inspired cuisine, Bedouin is known for being frequented by celebrities, having guests such as Nick Kyrgios and Rita Ora as some of their a-list patrons.

The venue boasts a stylish and laidback interior, and Lebanese food given a European twist to match.

With regard to the new dress code, restaurant management said they value their customers and community stakeholders and have always implemented house rules that include a dress policy that discourages intimidating appearances.