Are you curious about where to find the most expensive house in Australia? Well, grab a cold one and get ready to be blown away because we’re about to take a deep dive into the opulent world of real estate.
The most expensive house in Australia sold for a staggering $130 million in 2022 and that still holds the record. The property is the stuff of dreams, with sprawling living spaces, lush gardens, a tennis court, a swimming pool, and even a media room.
And it’s located in the prestigious suburb of Point Piper in Sydney, the most expensive suburb in Sydney.
But this isn’t the most expensive home ever sold, nor is it the only expensive house on the block. So, we’ll also be checking out five other jaw-dropping properties that will leave you feeling green with envy.
And, if you’re curious about the cost of living in Point Piper, the current suburb median house price sits around a cool $17 million. Yep, you read that right.
While there are expensive suburbs in Queensland and expensive houses in Gold Coast, they don’t hold a candle to the eye watering prices we see in Sydney. So, sit back, relax, and let’s take a tour of the most expensive homes in Australia.
5 most expensive houses in Australia
Let’s take a tour of the most expensive houses ever sold in Australia before we dive into other expensive properties here.
#1 most expensive house sold in Australia – $130 million
- 29 Wentworth Street, Point Piper, NSW 2027
- Sold date: 2022
- Sale Price: $130 million
- Buyers: Atlassian’s Scott Farquhar and Kim Jackson
The most expensive house in Australia was sold for $130 million in 2022 to Atlassian billionaire, Scott Farquhar.
Australian real estate market witnessed a landmark transaction with The purchase of Uig Lodge was a a landmark transaction in the Australian real estate market, establishing a new peak in luxury property sales.
This Scottish baronial mansion, nestled in Sydney’s affluent Point Piper, captured headlines for its unparalleled price and exquisite features.
Key features of Uig Lodge:
- Location: Prestigious Wentworth Street, Point Piper
- Architecture: Scottish baronial mansion
- Luxury Amenities: Four bedrooms, offering breathtaking views of Sydney Harbour from Point Piper’s highest vantage point
How this sale impacts the real estate market in Point Piper
The transaction underscores Point Piper’s dominance in the Australian luxury real estate market, setting house price records that surpass the suburb’s already extraordinary standards.
This makes Wentworth Street one of the most expensive streets in Sydney and of course, part of billionaires row Sydney.
- Previous Record: Surpassed the $100 million sale of Fairwater, another Fairfax family property in Point Piper.
- Noteworthy Comparisons: The sale of Edgewater for $95 million further cements Point Piper’s status at the pinnacle of expensive property sales in Australia.
What do we know about the buyers of Uig Lodge?
Farquhar and Jackson, already prominent figures in the luxury real estate scene, expand their portfolio, emphasizing their impact on and contribution to the market’s dynamics.
This sale of Uig Lodge not only marks a historic moment in Australia’s real estate history but also highlights the exclusive allure of Point Piper, attracting elite buyers and setting new benchmarks in luxury living.
Explore more amazing real estate in Point Piper NSW.
#2 most expensive house sold in Australia – $100 million
- 560 New South Head Rd, Point Piper NSW 2027
- Sold date: 2018
- Sale Price: $100 million
- Buyers: Mike Cannon-Brookes and Annie Cannon-Brookes
In 2018, Fairwater, a prestigious property in Sydney, set a record with its $100 million sale to Atlassian co-founder Mike Cannon-Brookes and his wife Annie. This transaction not only captured public attention due to the staggering sale price but also for ending the Fairfax family’s century-long ownership of the estate.
Key features of Fairwater:
- Location: Largest privately held property on Sydney Harbour
- Size: 1.12-hectare estate
- Heritage: Listed on the New South Wales State Heritage Register
Historical Significance:
- Ownership History: Transitioned from Fairfax family after more than 100 years
- Construction Period: Between 1882 and 1970, under various owners
- Cultural Significance: Noted for its historical architectural design
This sale of Fairwater not only marks a high point in Sydney’s luxury real estate market but also highlights the cultural and historical value of such properties, securing a place in Australian history while showcasing the appeal of exclusive Sydney harbourside living.
Explore more real estate in Point Piper NSW.
#3 most expensive house sold in Australia – $95 million
- 92 Wolseley Road, Point Piper, NSW 2027
- Sold date: 2020
- Sale Price: $95 million
- Buyer: John Changjin Li
Despite global uncertainties in 2020, Edgewater, a prime waterfront mansion in Sydney, sold for an impressive $95 million, making it the third highest residential transaction in Australia’s history.
This sale underscores the enduring appeal and resilience of the high-end real estate market.
Key details of Edgewater:
- Waterfront: Rare 40-metre harbour frontage
- Amenities: Tennis court and deepwater jetty
- Neighborhood: Near residences of notable figures like Westfield’s Frank Lowy
Previous Ownership:
- Acquired by Joseph Brender and Sam Moss of Katies retail chain for $5 million in 1985.
- Architect Stephen Gergely was commissioned to transform it into two strata homes for their families.
Edgewater’s sale not only reflects the strength of Australia’s luxury market but also the property’s unique value, boasting unparalleled views and amenities in one of Sydney’s most exclusive suburbs.
Explore more real estate in Point Piper NSW.
#4 most expensive house sold in Australia – $80 million
- 29-31 St Georges Rd, Toorak VIC 3142, Australia
- Sold date: 2022
- Sale Price: $80,000,088
- Buyer: Ed Craven
According to The Age, the most expensive house in Toorak and the Victorian price benchmark was the property at 29-31 St Georges Road Toorak, which sold for an astounding $80,000,088. This also made St George Street the most expensive street in Melbourne and this the most expensive house in Melbourne.
The property was acquired through an off-market deal by the crypto king Ed Craven, despite its almost dilapidated state. Despite this, Craven has plans to completely overhaul the property and build a new home on the 7,200 square metre block.
Check out more real estate in Toorak VIC.
#5 most expensive house sold in Australia – $71 million
- 550 New South Head Road, Point Piper, NSW 2027
- Sold date: 2021
- Sale Price: $71 million
- Buyer: Scott Farquhar
In 2021, Scott Farquhar, co-founder of Atlassian and a known figure in the tech industry, made headlines with the purchase of Elaine, a landmark Fairfax family estate.
If the name sounds familiar to you, it’s because you just saw it under the number one most expensive house sold in Australia – Uig Lodge. That’s right – the billionaire currently sits on over over $200 million worth of Sydney heritage real estate.
Key details of Elaine:
- Size: 6986 square metres
- Luxury Amenities: Seven bedrooms and five bathrooms
- Historical Significance: Held by the Fairfax family since 1891
Elaine represents the pinnacle of luxury living, combining historical heritage with modern-day opulence in one of Sydney’s most sought-after locations. Its extensive grounds and sophisticated design underscore its status as a premier property in Australia’s luxury market.
Explore more real estate in Point Piper NSW.
Most expensive apartments in Australia
$140 million – Tower/100 Barangaroo Ave, Barangaroo NSW 2000, Australia
- Tower 1, One Sydney Harbour, Barangaroo South
- Sold date: 2019
- Sale Price: $140 million
- Buyer: Not made public
In a surprising twist, an apartment has set the record for the most expensive home ever sold in Australia.
This isn’t just any apartment, but a lavish two-story penthouse at the pinnacle of the Tower 1 development in One Sydney Harbour, Barangaroo South.
This sum reflects the combined value of 2 separate units, the penthouse and sub-penthouse.
Design of One Sydney Harbour Penthouse
- Architect: Designed by Renzo Piano, known for creating spaces that blend art and architecture.
- Size: The main bedroom rivals the size of many family homes, offering unprecedented luxury.
- Features: Top three floors, rooftop swimming pool, spa, gymnasium, and nine bedrooms
This penthouse redefines luxury living, offering a blend of sophisticated design, expansive living spaces, and exclusive amenities. With its eye-watering price tag, it promises to be a landmark property within Sydney’s evolving skyline, embodying the height of urban opulence.
$60 million – Level 43/163 Castlereagh Street, Sydney, NSW
The ANZ building in Sydney made headlines in May 2021 when Ian Malouf, founder of waste management business Dial-a-Dump, bought The Boyd Residence penthouse for $60 million, making it one of the most expensive properties ever sold.
- Location: ANZ building, Sydney
- Sold date: 2021
- Sale Price: $60 million
- Buyer: Ian Malouf
Penthouse Highlights:
- Size: 2400 square metres
- Luxury Features: Four bedrooms, five bathrooms, private rooftop terrace with swimming pool, and 360-degree views of Sydney Harbour.
- Design: Crafted by Blainey North, combining Art Deco and contemporary finishes.
- Amenities: Internal lift, conference room, gym, and a private lift entry to a champagne storage-equipped glass wall.
FAQs on Most Expensive House in Australia
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What is the most expensive house in the Australia?
The most expensive house in Australia is the Scottish baronial mansion, Uig Lodge, which was sold for $130 million in 2022 in Sydney’s Point Piper. It is one of the most luxurious houses in Australia. The average house price in Point Piper is currently around $9.9 million.
But, of course, more mansions in Australia come onto the market daily. Be sure to peruse our round up of the most expensive houses in Sydney to get familiar with property prices.
Yahtahlia Manor in Adelaide was almost the most expensive house in Adelaide when it was on the market for $12 million.
Who owns the richest house in Australia?
Atlassian’s Scott Farquhar now owns the most expensive house in Australia and therefore the richest house as well. Uig Lodge is considered one of the most luxurious houses in the world.
Edgewater Point Piper was also one of the richest houses in Australia, which as valued at $95 million when it sold in 2020.
Who owns the biggest house in Australia?
The largest home in Australia is the stunning Fairwater, a 1.12ha estate situated in the highly sought-after suburb of Point Piper in Sydney. Built in 1882, this heritage-listed property is nothing short of grandeur, with its period finishes, stained glass windows, and beautifully painted ceilings.
The mansion also boasts intricate details like decorative mosaic floors, panelled walls, door leafs, and furniture, as well as breathtaking chimney pieces.
Fairwater’s reputation as the largest residential property on the harbour-side is well deserved, and it’s no surprise that the mansion has been one of Australia’s most iconic homes for over a century.
If you’re on the lookout for mansions for sale in Australia, set up your match profile on Soho and we’ll keep you up to date with all the mansions coming onto market.
What is the 1 most expensive house in the world?
The most expensive house in the world is Buckingham Palace in London, valued at around $4.9 billion.
The priciest apartment in the world happens to be situated on top of the tallest residential tower in the world on Billionaires’ Row in New York City. The Penthouse at Central Park Tower is valued at a whopping $250 million.
What sets Point Piper apart as a location for some of Australia’s most expensive houses?
Point Piper is an enclave of exclusivity, offering panoramic Sydney Harbour views, seclusion, and a concentration of affluence. Record-breaking sales like the $100 million Fairwater and the $130 million Uig Lodge showcase the suburb’s standing in Australia’s luxury real estate market.
Want to see more luxury homes across Australia? Check out Soho’s feature on the most expensive house in Perth.
How did the sale of Fairwater in Point Piper impact the Australian real estate market?
The Fairwater transaction set a new luxury real estate benchmark in Australia, spotlighting Sydney’s prime waterfront properties and attracting further interest from affluent local and international buyers.
Is the high price of properties in Point Piper reflective of the overall Australian housing market?
Point Piper is exceptional, with its property values driven by its limited land, prestigious homes, and wealthy residents, which are not representative of the broader Australian housing market.
What makes Uig Lodge stand out in the Australian property market? Uig Lodge’s sale at $130 million exemplifies luxury, with its distinctive Scottish baronial architecture and esteemed location, it is a pinnacle of opulence in the Australian property market.
