 "Raheen" is of historic importance because of its association with Melbourne's elite businessmen through Latham and Wrixon, and illustrates not only the importance of the brewery business and the legal profession in nineteenth century Melbourne, but also the importance of a residence in indicating success and status in society.The house is of historic importance through its association with the Catholic Church and illustrates the status sought by church hierarchy for Melbourne's Catholics and the Church prior to the mid-twentieth century.It is also historically important because of its association with Archbishop Dr Daniel Mannix who played a significant role within the Melbourne Archdiocese, as also in Melbourne politics particularly during the conscription debates of the First World War.