Australia’s most expensive house in 2020 sold for $51 million

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One of Australia’s most expensive houses of the year sold for $51million – with the price tag including an uninterrupted, panoramic view of Sydney Harbour.

Point Piper, the home base of finance chief executives and the likes of former Liberal prime minister Malcolm Turnbull, is certainly the place for the rich-list set.

The five-bedroom, seven-bathroom, seven-car garage mansion on Wunulla Road in April sold for $51million, or 51 times Sydney’s already-expensive median house price, making it by far the priciest home sold in 2020 in CoreLogic’s Best of the Best 2020 report. 

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Australia's most expensive house this year sold for $51million - with the price tag including an uninterrupted, panoramic view of Sydney Harbour

Australia’s most expensive house this year sold for $51million – with the price tag including an uninterrupted, panoramic view of Sydney Harbour

A five-bedroom, seven-bathroom, seven-car garage mansion in April sold for $51million, or 51 times Sydney's already expensive median house price, making it by far the priciest home exchanged in 2020, CoreLogic data showed.

A five-bedroom, seven-bathroom, seven-car garage mansion in April sold for $51million, or 51 times Sydney’s already expensive median house price, making it by far the priciest home exchanged in 2020, CoreLogic data showed.

The house has views out through the mouth of Sydney Harbour and a panorama that takes in the Eastern Suburbs on one side and the Lower North Shore on the other, with the Manly and Watsons Bay ferries and some yachts in between.

A private jetty and a white cellar the size of a small museum are part of the package, along with a harbourside pool and an expansive waterfront patio. 

For those with a tighter budget another Sydney Harbour house at Elizabeth Bay, a little closer to the city, sold for $33million in March.

That kind of money bought a five-bedroom, six-bathroom, four-car-garage in a Federation mansion overlooking a marina.

The house has views out through the mouth of Sydney Harbour and a panorama that takes in the Eastern Suburbs on one side and the Lower North Shore on the other, with the Manly ferry and some yachts in between

The house has views out through the mouth of Sydney Harbour and a panorama that takes in the Eastern Suburbs on one side and the Lower North Shore on the other, with the Manly ferry and some yachts in between

A private jetty and a white cellar the size of a small museum are part of the package, along with a harbourside pool and an expansive waterfront patio

A private jetty and a white cellar the size of a small museum are part of the package, along with a harbourside pool and an expansive waterfront patio

Sydney’s upmarket Eastern Suburbs took out six spots on the top 10 list of the most expensive houses sold this year, with those postcodes holding the first five places.

Australia’s most expensive houses sold in 2020

1. Point Piper, Sydney’s east: $51million

2. Elizabeth Bay, Sydney’s east: $33million

3. Vaucluse, Sydney’s east: $32.5million

4. Darling Point, Sydney’s east: $32million

5. Vaucluse, Sydney’s east: $30million

6. Dalkeith, Perths’ west: $27.5million

7. Vaucluse, Sydney’s east: $24.6million

8. Newport, Sydney’s Northern Beaches: $24.5million

9. Palm Beach, Sydney’s Northern Beaches: $24million

10. Mermaid Beach, Gold Coast: $22.6million

Source: CoreLogic Best of the Best 2020 report

Vaucluse, with Sydney Harbour and the Pacific Ocean on each side, had three places on the elite list.

Darling Point was the home of Australia’s fourth most expensive house in 2020, with a five-bedroom, seven-bathroom, 10-car garage home overlooking the harbour selling for $32million.

The suburb also had Australia’s highest median house price of $7million. 

Sydney took up eight spots overall with two suburbs on the Northern Beaches, now in Covid lockdown including Palm Beach and Newport, which each sold for more than $24million.

Anthony Walls, a director of boutique real estate consultancy Max Walls International, said buyers were prepared to pay up to $40million for a house on Sydney’s Lower North Shore or Northern Beaches.

‘The upper end in Mosman, we’ve got buyers looking $20million to $40million for houses, right the way up the Northern Beaches,’ he said.

Perth and the Gold Coast each had one place with Melbourne taking out no spots on the elite list.

Though Sydney has Australia’s most expensive real estate, Perth has more billionaires, of the mining variety at least, including Gina Rinehart and Andrew Forrest.

A waterfront mansion in the Swan River area, known locally as the ‘Dress Circle’, in September sold for $27.5million at Dalkeith.

It is also the former home of the late billionaire tycoon Alan Bond.

Western Australia’s most expensive exchanged home in 2020 came with a giant, resort-style pool, with a sunken bar and marble staircases. 

Rounding out the top ten list was a $22.6million ocean-front house at Mermaid Beach on the Gold Coast.

That price included five bedrooms, five bathrooms and a seven-car garage not to mention a pool, media room with a cinema and a marble bathroom with views of the Pacific Ocean.

The house is only a stroll to Surfers Paradise, a popular party place for tourists.  

Sydney had eight positions overall with two suburbs on the Northern Beaches, now in Covid lockdown including Palm Beach (pictured) and Newport, which each sold for more than $24million

Sydney had eight positions overall with two suburbs on the Northern Beaches, now in Covid lockdown including Palm Beach (pictured) and Newport, which each sold for more than $24million

A waterfront mansion in the Swan River area, known locally as the 'Dress Circle', in September sold for $27.5million at Dalkeith. It was also once the home of the late billionaire tycoon Alan Bond

A waterfront mansion in the Swan River area, known locally as the ‘Dress Circle’, in September sold for $27.5million at Dalkeith. It was also once the home of the late billionaire tycoon Alan Bond

Mr Walls said ultra-rich property buyers just wanted somewhere to put their money.

‘A lot of it has got to do with, I hate to say this word but property’s the new mattress,’ he said.

‘There’s nowhere else to put their money. They just want to bring their money home, Australia’s a safe destination.’  

Though $51million was a lot of money for a house in 2020, the Point Piper mansion price was only half the $100million price Atlassian software founder Mike Cannon-Brookes paid for the Fairwater mansion in the same suburb in late 2018.

The CoreLogic list didn’t include a $95million Point Piper mansion on Wolseley Road.

Rounding out the top ten list was a $22.6million ocean-front house at Mermaid Beach on the Gold Coast

Rounding out the top ten list was a $22.6million ocean-front house at Mermaid Beach on the Gold Coast

That price included five bedrooms, five bathrooms and a seven-car garage not to mention a pool, media room with a cinema and a marble bathroom with views of the Pacific Ocean

That price included five bedrooms, five bathrooms and a seven-car garage not to mention a pool, media room with a cinema and a marble bathroom with views of the Pacific Ocean

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