6 days Ago
Alan Kohler's former Melbourne mansion sold at a devastating loss after the ABC finance presenter exposed the real reason for Australia's housing crisis READ MORE: Annastacia Palaszczuk's Brisbane pad expected to fetch $1.77m By A. JAMES FOR DAILY MAIL AUSTRALIA Published: 22:31 EDT, 14 April 2025 | Updated: 22:32 EDT, 14 April 2025 e-mail View comments The gorgeous former Melbourne home of the ABC's finance expert Alan Kohler has been resold at a loss of $525,000.
Kohler, 72, offloaded the palatial five-bedroom, three-bathroom vintage pad in ritzy Hawthorn for a whopping $8.7million in May 2024. According to the listing, the home went under the hammer again in February.
On Sunday, The Australian reported that the new buyers paid $8.175million, a six per cent drop for prestige properties in up-scale Hawthorn. Buyers agent Mal James told the publication that the market for A-list pads has 'stalled'.
'Prices of many homes – not all, but a lot – have recently felt like they’re rolling along on half-flat tyres,' he said. The gorgeous former Melbourne home of the ABC's finance expert Alan Kohler (pictured) has been resold at a loss of $525,000 - indicating that even 'prestige' pads are not immune to the housing crisis Kohler, 72, offloaded the palatial pad in ritzy Hawthorn for a whopping $8.7million in May 2024.
On Sunday, The Australian reported that the new buyers paid $8.175million, in February, a six per cent drop for prestige property's in up-scale Hawthorn The Edwardian-era home features five bedrooms and three bathrooms Kohler, alongside his wife, author Deborah Forster, lived on the Hawthorn property for 21 years after snapping it up for a mere $1.725million in 2003.
Originally built around 1912, the Kohler's splashed another $300,000 on renovations supervised by interior designer Geraldine Maher in 2013. Situated 7km from the CBD in the Grace Park Estate, one of Melbourne's most sought after neighbourhoods, highlights on the two-storey home include a private library and cellar. Design features include Carrara marble benches in the kitchen and a private 'retreat' on the first floor.
There's also a pergola, pool, and a gym that also can do double duty as a studio. Other highlights include a 'family' room and a home office. It comes after Kohler recently pointed the finger at politicians fearful of offending 'not in my backyard' (NIMBY) home owners for Australia's housing affordability crisis.
'Australia's housing crisis is the result of decades of failure by the nation's political classes,' he said. Originally built around 1912, the Kohler's splashed another $300,000 on renovations in 2013 The home is situated 7 km from the CBD in the Grace Park Estate, one of Melbourne's most sought after neighbourhoods. Pictured: One of several living areas Read More Mummy blogger Constance Hall puts Margaret River home on the market after fashion business goes bust He told 7.
30 in February that homes would only become affordable again if there was an oversupply of properties with a backyard. 'To solve housing affordability, we need to not just meet demand but surpass it,' he said. 'In my view, there has to be an oversupply of houses in the inner suburbs, the outer suburbs and the middle.
'That oversupply should ease rental pressures, and maybe even stop house prices rising.' But Kohler said politicians were reluctant to upset NIMBYs, who wanted to continually get strong capital growth and were opposed to the development of new apartments in their neighbourhoods. 'The question is, are those with a mortgage or owners like me prepared to see the value of their biggest asset flatline or even fall?' he asked.
'Making housing more affordable won't be easy - our suburbs will be more crowded, and your house and my house won't be worth as much, so I'll leave that to our political leaders to tackle.' High-rise apartments in places such as Sydney's lower north shore and Melbourne's bayside would destroy the garden suburb character of leafy postcodes. But they would also increase the supply of new homes, giving more choice to prospective buyers wanting to live near the city.
Sydney's median house of $1.474million now costs more than 14 times the average, full-time salary of $102,742, before a 20 per cent mortgage deposit is factored in. Someone would need to earn $227,000 to even get a loan - and still be in mortgage stress despite being among the top 2.
3 per cent of income earners. In Melbourne the median house price for a four-bedroom home is $930,000. Melbourne Share or comment on this article: Alan Kohler's former Melbourne mansion sold at a devastating loss after the ABC finance presenter exposed the real reason for Australia's housing crisis e-mail Add comment Comments 0 Share what you think No comments have so far been submitted.
Why not be the first to send us your thoughts, or debate this issue live on our message boards. Add your comment Enter your comment By posting your comment you agree to our house rules . Submit Comment Clear Close Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual.
No Yes Close Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.
You can choose on each post whether you would like it to be posted to Facebook. Your details from Facebook will be used to provide you with tailored content, marketing and ads in line with our Privacy Policy ..
