10 Most Expensive Homes in Australia (With Pictures)
The trophy-home market is considered any residential property that sells for $40 million or more. Sales of these properties tend to cause something of a stir when they sell because of the sheer magnitude of the sale.
Whether you’re looking for something to aspire to or are curious about the state of the Australian trophy-home market when compared to other countries around the world, you can view 10 of the most expensive homes in Australia below. However, there are likely to be some properties that don’t make the list because their current value is unknown or because they haven’t sold or changed hands in recent years.
As you can see from the list, the majority of trophy homes are found in New South Wales, which accounts for 9 of the 10 most expensive homes.
The 10 Most Expensive Homes in Australia
Once owned by the Fairfax family, Fairwater sold for a staggering $100 million in 2018 when it was purchased by tech billionaire Mike Cannon-Brookes. The property, which sits on 1.12 hectares, is a listed property and was only on the market for 2 weeks before being snapped up for Australia’s richest house property cost. Cannon-Brookes is the co-founder of the Australian tech company Atlassian.
Also located in the affluent Sydney suburb of Point Piper is Edgewater, which with a $95 million valuation is believed to be the second-most expensive house in Australia. It sold for $95 million in 2020 and was bought by Chinese gold mining magnate John Li. Prior to the 2020 sale, Edgewater did not feature on the list.
Elaine is another property, like Fairwater, that was sold by the Fairfax family and bought by an Atlassian co-founder. This $71 million property was sold in 2017 when it was bought by Cannon-Brookes’ business partner and best friend, Scott Farquhar. When the property did sell, it was reportedly the third most expensive house in the world.
4. La Mer
La Mer was purchased for $70 million in 2015. New owners James and Erica Parker bought the original property as well as two neighboring houses before tearing down the other two homes and having the original extended. Much of the property is located underground and La Mer is said to be a six-story mega-mansion. It is located in Vaucluse and is the first property on the list that is not found in the Point Piper neighborhood.
5. Phoenix Acres
Phoenix Acres was bought for $65.25 million, having originally been put on the market for an, even more, eye-watering $80 million. The property changed hands in 2017, and if it had reached its original asking price, it would have been the most expensive property in Australia at the time.
Altona was built in 1904 by Supreme Court Judge Augustus James for his wife, Altona. It has had multiple owners since that time and most recently sold for $62 million, putting it firmly on the list of the most expensive properties in the country.
Ganeden was first listed for sale in 2019 but it took three years to find a buyer that had the budget to buy this property. Sold by the Landerers, this property has seven bedrooms, 13 bathrooms, three kitchens, two elevators, and a variety of luxury rooms including a cinema and spa. It also has garage space for up to 20 cars. At the time of its sale, in early 2022, it was the sixth-most expensive house in the country.
A Shanghai art collector purchased Portofino, with its breath-taking views of Sydney Harbour, in 2016, paying an impressive $60.66 million at the time. Located in Point Piper, it has some very exclusive neighbours, as well as some equally impressive Tuscan architecture.
9. Shein Family Home
Two waterfront properties in Vaucluse were sold for a total of $60 million, and it is the intention of the new owner to combine them into a single compound. Despite the property’s name, it is now owned by Leon Kamenev, the co-founder of Menulog.
10. Mosman Park Mansion
The only property to make the top ten that isn’t situated in Vaucluse or Point Piper is the Mosman Park Mansion. It sold in 2009 for $57.5 million and probably has a higher value today. It was sold by Angela Bennett, the mining heiress.
All the properties on our list of the 10 most expensive homes in Australia have sold for more than $50 million, and it is likely that some of those will have increased in value since their sale. The list has a combined value of more than $700 million and comprises hundreds of bedrooms, bathrooms, and a host of swimming pools, cinemas, and even spas.
Featured Image Credit: Phillip Minnis, Shutterstock