High-end shoppers looking for a safe haven from the pandemic have searched for mansions in some of the country’s most exclusive zip codes.
Sydney topped the bestsellers again, with buyers prioritizing waterfront views.
Still, the country’s most expensive property, a Point Piper mansion that sold for $ 95 million in September, was only enough to rank as Australia’s third most expensive home.
That record went to a nine-bedroom penthouse at One Sydney Harbor in Barangaroo, which sold for $ 140 million last year. It broke the $ 100 million mark set by Atlassian co-founder Mike Cannon-Brookes for a Point Piper estate in Fairwater in 2018.
However, the Wolseley Road property has a rare 40m harbor frontage, has one of the few tennis courts in the suburb, and sits in a popular location directly across from the Sydney Harbor Bridge and the Opera House. There’s also a deep-water jetty, an entertainment level that includes a kitchen and an indoor pool.
But the new owner won’t hit the ball until 2022, when the deal is expected to be done.
The four-story building, known as Edgewater, has been split into two separate apartments by its owners, Katies women’s fashion chain co-founders Joe Brender and the late Sam Moss. They bought the property as a concrete shell for $ 5 million in 1985.
But history will be made once the deal is done. The mansion will steal the record for the most expensive housing consolidation for a single buyer, with the new owner planning to convert it into a single residence.
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Point Piper was a popular suburb with another harborfront mansion selling for $ 51 million in April, according to Core Logic. With views of Shark Island and the Manly skyline, the property has five bedrooms, a library, a home theater with wet bar, and a poolside kitchenette.
Guests or staff can hide in self-contained quarters, while the basement is large enough for seven cars, a workshop, home gym, and air-conditioned 5,000-bottle wine cellar.
These Point Piper mansions were so exclusive they weren’t advertised. But there were more people looking for properties above the $ 10 million mark – likely because we were all stuck at home and luxury homes are a good distraction, the economist says. head of realestate.com.au Nerida Conisbee.
The most expensive properties listed on realestate.com.au have all broken the $ 17 million mark.
The site’s bestseller, which also broke the record for the most expensive house sold at auction, was a five-bedroom Vaucluse house. He went under the hammer for $ 24.6 million – smashing his reserve of $ 10.6 million.
Nine of the most expensive properties featured on realestate.com.au were in Sydney, while a Queensland waterfront area at Mermaid Beach was also on the list when it sold for $ 22.6 million.
It’s no surprise that real estate in Sydney continues to rank so high, says Ms Conisbee.
“Sydney is a much more expensive city than anywhere else in Australia and the places that tend to see incredibly high prices aren’t just beautiful homes – they’re usually on the waterfront and in the city center and that also determines prices, ”she told news.com. at.
“You can build the most beautiful, gorgeous house in the middle of nowhere and you won’t get the price you make if you build in central Sydney on the waterfront – that’s where you get these incredible prices.
The Australian market has also been fortunate to keep prices high due to its low level of COVID-19 infections, Conisbee adds, although the current outbreak in northern beaches has shown the situation can be fragile.
“Australia has done very well throughout the pandemic economically and that has trickled down to luxury properties as we haven’t had a severe foreclosure and we’ve been able to get through much better than d ‘other places,’ she said.
“Also, the buyers of these high priced properties quite often come from overseas, they may be Australian residents, but they are doing quite well from an income and wealth perspective as they have gone global. with their businesses.
“There are a lot of expat buyers and that keeps the prices high and the reason expats want to buy is that Australia has not been as affected by COVID as the rest of the world.”