Wed Nov 2

5 of Sydney’s Most Expensive Houses

The property market feeding frenzy that engulfed Australia (and particularly Greater Sydney) also included some high-profile buyers and sellers for those luxury addresses - you know the ones that come with their own name rather than a street address?

Australian celebrities and overseas multimillionaires added their bids to the mix to see some record-breaking property prices, some of which were paid for in cash.

Here are five of Sydney’s most expensive houses

#1. Fairwater, Point Piper

If you want a $100 million property in Sydney these days you have to be quick. This property sold in 2018 in just over two weeks, incredible speed when you consider that most waterfront properties take years to move. Now though, Sydney waterfront properties are in high demand with both Australians and overseas millionaires and billionaires looking to purchase an elite address.

Part of this sale speed comes from keen buyers who want a piece of the trophy home action. Mike Cannon-Brookes moved in next door to Atlassian tech co-founder (see next listing) after their purchase one year prior. He and his wife were keen to move into the heritage-listed home and establish the property for their family for generations to come, just as the Fairfax family had before them.

#2. Elaine, Point Piper

Located next door to Fairwater, the marine villa Elaine was previously owned and held for generations by the Fairfax family. While it has been a little neglected due to being unoccupied for many years, the property still managed to notch up a sale price of $71 million in 2017.

With renovation works underway for the next few years to bring it up to contemporary levels, the tech billionaire owner Scott Farquhar is looking to invest another $30 million in the 1863-built home to turn it into a contemporary dream house combining irreplaceable historic grandeur with modern fashion and timeless charm.

#3. La Mer, Vaucluse

If you are looking to sell a property that’s on the slightly larger side, you'll love the record sale for La Mer in Vaucluse. Previous owner James Packer built the property himself using amalgamated land purchases from either side. He started with an $18 million purchase for the Guildford Bell-designed residence then established his estate with the addition of two neighbouring houses, one at $6.55 million, the other at $5.5 million winding up with a 3300 square metre holding on the hillside.

While the $70 million was a record breaker for Sydney in 2015, in all Paker spent almost that much on the combined land and three-year construction of the mega-mall house or gigantic properties including a cinema for 20 and garage space for 20 cars and multiple entertainment rooms with sweeping bay views.

#4. Phoenix Acres, Vaucluse

For those who like their Sydney waterfront mansions to resemble palace living you can’t get a more perfect property than Phoenix Acres. The property, located at 38B The Crescent, Vaucluse was purchased in 2017 by Chio Kiat Ow for a stylish $65.25 million.

Bespoke finishes and grandeur abound, from the incredibly rare 81-metre wide water frontage to the stunning master bedroom. The property comes complete with a jetty and private boathouse as well as stunning water frontage and entertainment areas that take full advantage of the uninterrupted views of Sydney Harbour Bridge and the city skyline.

#5 Ganedan, Vaucluse

Ganedan spent three years on the market before finally finding a buyer willing to pay the $62 million for a non-waterfront Sydney address. When listed in 2019 it was the most expensive listing for the year. What the property lacks in waterfront it makes up for in grandeur with two internal lifts, seven bedrooms, three kitchens, home cinema, gym, two swimming pools and a 20-car garage. Of course, you also get sensational views of Sydney Harbour including the iconic Bridge and Opera House.

While the market may have softened slightly, the desire for trophy homes is firmly set and property will continue to move and be well-regarded in Sydney, since the celebs and international billionaires are telling everyone loud and clear, this is the place to be. Get in touch with an experienced Sydney property valuer.