Federal Budget 2026: what it means for you in the property market

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The trends, features 
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luxury in 2026

49 Reading Street, Paddington was marketed by Ray White Collective selling principal Matt Lancashire and sales agent Josh Brown.

“Governess is an absolute showstopper. It’s easily one of the most significant and meticulously transformed Character homes ever to hit the Brisbane market, and the record-shattering result reflects exactly that,” Mr Lancashire said.

Mr Brown said the property was a piece of Brisbane’s history reimagined to the absolute highest standard.

“To achieve a record-shattering result like this in Paddington proves that there is still an incredible appetite for ultra-premium, character-rich homes when they are executed flawlessly,” Mr Brown said.

For the past year, the owners have lived inside a local fascination - a home so striking that passersbys frequently slow their cars just to catch a glimpse of the Queensland masterpiece.

For the Perron-Gorman’s - a surgeon and a medical manager with a 13-month-old - the journey was always about honouring the home’s original 1860s character while creating a cohesive, modern sanctuary to pass on to the next family as they prepare to downsize.

The renovation was an architectural puzzle; over the decades, the home had lost its way through several disjointed updates, Ms Gorman said.

She described the result of the transformation by award-winning design and construction company Graya as “striking”.

“It took just over a year to renovate the home and it was a labour of love,” Ms Gorman said.

“Graya executed the renovation beautifully and it’s quite surreal to live in such a stunning home.”

At the heart of the home there is a kitchen designed for the ultimate foodie and entertainer, Ms Gorman said.

“A massive 4.5-metre marble island anchors the space, surrounded by windows that wrap around the house, offering leafy views even from deep within the butler’s pantry.

“This flow extends naturally to the outdoor deck and resort-style pool, where the Brisbane city skyline serves as a glittering backdrop for Sunday afternoons.”

A palatial master residence upstairs occupies its own level, and the suite features a private lounge and a signature set of stairs that lead to a bathroom sanctuary.

“There is a fireplace and a skylight positioned over the freestanding bath, allowing the morning sun or evening glow to fill the room,” Ms Gorman said.

Downstairs there is a gym and a tasting room, complete with a cellar, bar and lounge behind thermally insulated glass.

While the Perron-Gorman’s are staying within their beloved Paddington suburb, they are excited to hand over the keys to the landmark 1,634sqm estate.

“Governess is more than just a house; it is a unified vision of Brisbane history and "Graya flair”, ready for its next chapter,” Ms Gorman said.

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