Point Piper

But Sydney's a shit market apparently.

But I guarantee if I offered anyone a house in Point Piper or 20 houses in Townsville or fucking 10 apartments in Darwin, I know which one they'd choose.

It's got nothing to do with the market.

There's good buying, I guess, in that prestige market, right? You're seeing serious drops in value.

Maybe they could

sell his Point Piper mansion instead of Victoria Barracks.

You'd pick up a

few, Bob, for that? Sell the big palace! Yes.

He actually is the son of mega wealthy pub magnate Kim Maloney and Sydney socialite Di Maloney.

Now, when he's not partying, he's DJing at his mum's Point Piper mansion and her plaza hotel.

So he's a rich boy, basically.

A very rich boy.

Now she came out earlier this year and denied the claims, but recently the company that her properties are held within went into external administration and her hotel that Ryan DJ's at has been listed for sale under Receiver's troll.

Where's he going to DJ at now? Is

someone going to throw him a bone? Well you'll be happy to know that despite all these financial troubles being made public he actually held a very lavish party at his mum's Point Piper mansion earlier this month.

Now he promoted the party and dubbed it Rush and it's been reported that that party cost $200,000.

We're talking about areas where there's markets within markets and asset types within asset types.

And so you got houses in absolutely supreme suburbs that, you know, if you take Point Piper, for example, and these type of places where the ultra-rich live, they're not gonna be impacted because, you know, certain people are gonna live in those.

But you're gonna see sort of segments in the Sydney market, which are roughly between that sort of 2 million to 10 million mark, which are gonna be severely impacted during this particular time.

But if we look in absolute terms and we look at a 10% sort of drop in these areas, like, you know, the numbers look pretty scary.

Yeah

... 'cause we live at Point Piper overlooking Double Bay.

Yes.

And there's this lovely cruiser.

Yeah

... where Toby was at Point Piper.

It was, it was knackery out there.

That was a bit different.

It's called Why Common Sense Tax Reform Is Vital to Australia's Future, and I talk about sort of reforming GST, cutting income tax, capping the main residence CGT exemption.

Maybe not popular, but again, goes to the point of, you know, if someone's selling a, a home in Point Piper and makes a, a $100 million gain, surely they can afford to pay a, a little bit of tax.

Yeah, and th- that's the sort of commentary.

So I'm not arguing for not increasing taxes in some situations and/or arguing that, you know, people that have more wealth or more income can afford to pay more.

But as part of the mix was Michael McGurk, who had been charged with firebombing the very same house at the center of the dispute.

So we write this story about the $17 million lawsuit, the firebombing, Point Piper, and of course-

Mm

... um, Wolseley Road is not just the most expensive strip of real estate in Australia, it's the 10th most expensive street in the entire nation, in, sorry-

Everyone's Magazine in 1931 believed it held the record for the number of city revivals.

George Musgrove built Dinah Gwyn in Point Piper, New South Wales for Nellie in 1913, naming it after her most famous role of Nell Gwyn.

She lived there until 1930.

A lean period followed, and the effect of World War I on the theaters led to Nellie losing practically all of her savings.