What is the most expensive house in Sydney?

  • Only Hong Kong has a more expensive housing market than Sydney
  • Point Piper alone has a median home price of $10 million
  • Two properties have sold for more than $100 million each in the past five years

Sydney is home to some of the most expensive real estate in the world.

Boss Hunting recently named Sydney the second most expensive real estate market in the world, only beaten by Hong Kong.

Demographia’s International Housing Affordability (2022 edition) notes that the median house price in Sydney is 15 times higher than the average household income. By comparison, Hong Kong is 23 times the average household income.

Asking prices for houses in Sydney have risen significantly since the start of the last decade, although they have fallen recently, but are still around $1.6 million for houses, according to SQM Research.

Greater Sydney

But what about the high end of the market?

These two cities are famous for hosting some of the most expensive suburbs in the world.

While Hong Kong has The Peak, Sydney has a range of very high value suburbs, including Point Piper, which has hosted many of Sydney’s best sellers over the past decade.

Due to the secrecy surrounding many sales in the area, it is not as easy to get an accurate median or average sale price. However, CoreLogic estimates the median price for homes in Point Piper to be around $10 million, with unit and apartment prices around $4.33 million.

So if you had enough money for a unit or apartment in Point Piper, you could also buy a few mid-priced houses in Sydney.

What is the most expensive house in Sydney?

In 2019, a penthouse and sub-penthouse at Lendlease’s One Sydney Harbor (main image) sold in a single line for $140 million – an Australian record.

Despite Covid, Lendlease Head of Apartments and Development at Lendlease, Dan Dugina, said The Property Tribune he believes the record still stands, noting that most of the residences in the multibillion-dollar development have been sold.

“One Sydney Harbor has established itself as one of the most luxurious residential addresses in the world, achieving sales comparable to the most exclusive apartments in New York and London,” said Mr Dugina.

“Since (the sale), we have continued to receive solid and steady sales success, with Residences One and Two sold over 85%, which includes all penthouses and skyhomes.”

The property features nine bedrooms, over 1,600 square meters of organized lube space, and an eight-meter-high ceiling. The buyer was a local and the selling price equates to more than $100,000 per square meter.

“Our newly acquired development at One Circular Quay will once again elevate Sydney’s property market onto the world stage and further strengthen the sales momentum of the neighboring port of One Sydney.

Dan Dugina. Image – LinkedIn.

“The success of One Sydney Harbor is a testament to the strength and resilience of Sydney’s residential market and demonstrates the strong demand from buyers who recognize this once-in-a-generation opportunity.”

Sydney’s most expensive house in 2021

Apartment on Castlereagh Street, Sydney, NSW

Reagh Castle Street
Castlereagh Street Apartment. Image – Domain.

The most expensive property sold in 2021 was actually not the house, but rather an apartment on Sydney’s Castlereagh Street.

Located at the top of the ANZ commercial office tower, the three-storey, four-bedroom apartment spans 2,400m² and has its own private car park and express lift. As well as a rooftop pool, it has a cabana lounge and views of Sydney Tower.

rooftop pool sydney
The apartment has a rooftop swimming pool – next to Sydney Tower. Image – Domain.

It was bought by Ian Malouf, founder of waste management company Dial-A-Dump which he sold in 2018 for $578 million. Mr Malouf bought the apartment for $60million, making it the highest paid for a completed penthouse in Australia to date.

Sydney’s most expensive house in 2020

42 Route de Vaucluse, Vaucluse

42 Vaucluse
You can either watch TV in the living room or watch the harbour. Image – real estate.com.au

According to data from realestate.com.au, the most expensive house sold in 2020 was 42 Vaucluse Road, Vaucluse, which sold for $24.6 million on September 26, 2020.

The five-bedroom, five-bathroom property sits on a 1,085m² plot offering 180 degree views of Sydney Harbor including the Harbor Bridge, Opera House, Skyline and North Sydney.

With three floors of living space, the residence has a tennis court, heated indoor/outdoor swimming pool and tropical gardens.

The property previously sold for $11.33 million in July 2013 — a relatively small loss — considering it sold for $11.7 million in June 2012, according to Proptrack.

lap pool
The swimming pool of the Vaucluse property. Image – real estate.com.au

Sydney’s most expensive house of 2019

22a Tivoli Avenue, Rose Bay

22a avenue de tivoli
Living room at 22a Avenue Tivoli. Image – real estate.com.au

Another five-bedroom, five-bathroom home took the top spot in 2019 as the most expensive sale of 2019.

22a Tivoli Avenue, Rose Bay sold in May 2019 for $22.6 million. The sale price represents a nice return for sellers, given that it was acquired for $13.5 million in September 2009 after being on the market for 183 days.

22a tivoli balcony
Balcony at 22a Avenue Tivoli. Image – real estate.com.au.

Situated on a 1,800m² block, it is one block from the seafront and has views of the Opera House and Harbor Bridge.

Sydney’s most expensive house of 2018

560 New South Head Road, Double Bay

fairwater
Fairwater. Image – Domain.

By far the most expensive property sold in 2018 was Fairwater at Point Piper.

Atlassian’s Mike-Cannon-Brookes and his wife Annie bought the house for $100 million from the Fairfax family, following the death of Lady Mary Fairfax in 2017.

This is the highest price ever paid for a house in Australia. Excluding palaces and similar property types, it is also believed to be one of the most expensive private houses in the world.

Fairwater 2
Picture – WikiCommons.

The 1.12 hectare estate at 560 New South Head Road, Double Bay is heritage listed.

Sydney’s most expensive house sold in 2017

550 New South Head Road, Point Piper

elaine
Elaine. Image – real estate.com.au.

Elaine, owned by fellow Atlassian co-founder Soctt Farquhar, bought Elaine from Point Piper for $71 million. Like the Cannon-Brookes home, it was also owned by the Fairfax family.

The house, built in 1863, has seven bedrooms and five bathrooms and sits on an estate of 6,986 m². The Fairfax family had turned down many higher offers from developers, but John Brehmer Fairfax wanted to sell the property in a single line.

internal elaine
Image – real estate.com.au.

In addition to its own beach, the mansion has a tennis court and ballroom, but unlike the Cannon-Brookes house, it is not listed on the state heritage register or the National Trust.

At the time of purchase, the house would have been vacant for almost 20 years.

Sydney’s most expensive house in 2016

54-56 Wunnulla Road, Point Piper

altona
Image – real estate.com.au.

Altona at Point Piper was purchased in 2016 for $60 million. The 54-56 Wunnulla Road house is coincidentally next to the house of Malcolm Turnbull (left in image above) who was notably Prime Minister at the time of the sale.

The Huang family warned against the title deed after the purchase.

The property was acquired from the Wang family, who bought the house for $52 million in 2013.

sydney harbor
Image – real estate.com.au.

It is an Italianate Victorian style house and sits on a 2400m² property. A proposed $18 million subdivision sale of a vacant tennis court did not proceed due to neighborhood objections.

Sydney’s most expensive house in 2015

40 Wentworth Road, Vaucluse

40 Goworth Road
40 Wentworth Road. Image – Domain.

The most expensive house sold in 2015 was La Mer in Vaucluse, which James and Erica Packer sold for $70 million.

Located at 40 Wentworth Road in the Vaucluse, the property was sold as part of the Packers’ divorce.

The house is six stories tall and was built by architect Gulford Belle, with a redesign conducted by Tzannes Associates.

living room
Wentworth. Picture provided.

Several properties were acquired by Mr. Packer to create the 3,300 m² estate, which is said to have cost $30 million. The construction itself is believed to have cost $40 million, making it unlikely that Mr Packer made a profit on the property.

Sydney’s most expensive house in 2014

63-67 Wolseley Road, Point Piper

63-67 Wolseley Road, Point Piper
63-67 Wolseley Road, Point Piper. Image – real estate.com.au.

Villa Del Mare, 63-67 Wolseley Road, Point Piper, sold in October 2014 for $39 million, Sydney’s most expensive home that year.

The six-bedroom, eight-bathroom home was acquired by Chinese billionaire Hui Ka Yan, but sold after receiving a disposal order from then-Treasurer Joe Hockey due to a rule violation of foreign investment surrounding residential property.

Mr. Hui is chairman of the board and Communist Party secretary of the struggling Evergrande group.

swimming pool sydney
Pool at Point Piper property. Image – real estate.com.au.

Sydney’s most expensive house in 2013

9 Wolseley Crescent, Point Piper

Bang and Olufsen
Bang and Olufsen. Image – Domain.

Known as the “Bang and Olufsen house” because of its resemblance to a hi-fi sound system, this Wolseley Crescent house was the highest recorded in Sydney in 2013.

The 1,414 sq m house was sold for $33.5 million, with the buyer unknown but rumored to be Yafu Qiu of Shandong Ruyi, a Chinese textile giant. Elton John reportedly expressed interest in acquiring the property and is credited with the nickname.

It had previously been purchased for $24 million in April 2006 and $11.25 million in 1990.

Not much is publicly known about the interior of the house, but there is a swimming pool.

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If you liked this article, check out the most expensive houses in Melbourne.

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