Are you curious about 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 at a cool $9,900,000. 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.
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
Sold date: 2022
29 Wentworth Street, Point Piper, NSW 2027
The most expensive house in Australia was sold in 2022 for a mind-blowing $130 million! That’s right, the Scottish baronial mansion Uig Lodge, located in Sydney’s ritzy Point Piper suburb, set a new national house price record, raising the already soaring house prices in Sydney’s eastern suburbs.
This makes Wentworth Street one of the most expensive streets in Sydney and of course, part of billionaires row Sydney.
The lavish four-bedroom property was sold Atlassian founder Scott Farquhar and his wife, investment banker Kim Jackson, who already own one of Australia’s most expensive houses, Elaine, also in Point Piper (we cover this later).
Uig Lodge boasts breathtaking views of Sydney Harbour from its position on the highest point of Point Piper, making it a highly coveted piece of real estate.
The sale of Uig Lodge has smashed all house price records across the country, including the previous national house price record of $100 million set in a property sold in 2018 by Farquhar’s Atlassian co-founder Mike Cannon-Brookes for another Fairfax family property in Point Piper, the 1.1-hectare estate Fairwater.
In fact, Point Piper now claims the three most expensive house sales in the country, including the $95 million sale of Edgewater to gold mining businessman John Li.
So, if you’re looking to break into the top end of the market, you better start saving up your pennies. The most expensive house in Australia is now officially off the market, but there are still plenty of other jaw-dropping properties to marvel at. It’s safe to say that the world of luxury real estate in Australia is not for the faint of heart!
Explore more real estate in Point Piper NSW.
#2 most expensive house sold in Australia – $100 million
Sold date: 2018
560 New South Head Rd, Point Piper NSW 2027
Back in 2018, a $100 million deal was made by none other but the co-founder of Atlassian, Mike Cannon-Brookes, and his wife Annie. When they bought Fairwater, the sale made headlines as it was, at the time, the most expensive house in Australia.
This historic purchase marked the end of more than a century of Fairfax family ownership of the 1.12-hectare estate, which is also the largest privately held property on Sydney Harbour. And get this – the home exchanged hands in just over two weeks for an eye-watering $100 million!
The Fairwater residence is listed on the New South Wales State Heritage Register for its historical architectural design and cultural significance.
It was constructed between 1882 and 1970 under the direction of various owners. But it was the property’s most recent buyer, tech billionaire Mike Cannon-Brookes, who snapped up the property for an absolutely staggering $100 million. It’s no wonder this magnificent home has been a coveted piece of real estate for over a century.
Explore more real estate in Point Piper NSW.
#3 most expensive house sold in Australia – $95 million
Sold date: 2020
92 Wolseley Road, Point Piper, NSW 2027
It seems that even during a crisis, the high-end real estate market was still booming. In 2020, an Australian-based buyer snapped up the stunning waterfront mansion in Sydney’s Wolseley Road for a whopping $95 million – the third-highest house sale ever recorded in Australia!
This magnificent property, known as ‘Edgewater’, boasts a rare 40-metre harbour frontage and is situated in the highly sought-after location of Point Piper, right in front of the iconic Sydney Harbour Bridge and Opera House. Its tennis court on the waterfront and deepwater jetty make it the ultimate luxury residence for any savvy purchaser.
The property was previously owned by the co-founders of the Katies women’s retail clothing chain, Joseph Brender and the late Sam Moss, who purchased it for a mere $5 million back in 1985. They enlisted the help of architect Stephen Gergely to convert it into two strata residences to house the two families.
And get this – the property is located just a few doors down from Westfield billionaire Frank Lowy, who bought his waterfront property for a measly $1.3 million back in 1991. Talk about a shrewd investment!
Explore more real estate in Point Piper NSW.
#4 most expensive house sold in Australia – $80 million
Sold date: 2022
29-31 St Georges Rd, Toorak VIC 3142, Australia
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 Georges street the most expensive street 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 – $75 million
Sold date: 2021
550 New South Head Road, Point Piper, NSW 2027
It looks like Atlassian co-founder and billionaire Scott Farquhar did it first in 2021, snapping up a Fairfax family estate. The stunning historic property, known as Elaine, boasts a whopping 6986 square metres in Sydney’s most expensive enclave.
Located on Seven Shillings Beach, this magnificent property features seven bedrooms and five bathrooms, making it the ultimate luxury residence for any discerning buyer. And get this – the Fairfax family had owned this stunning property since way back in 1891. No wonder it’s such a coveted piece of real estate!
Explore more real estate in Point Piper NSW.
Most expensive homes in Australia
$140 million – Tower/100 Barangaroo Ave, Barangaroo NSW 2000, Australia
Sold date: 2022
Who would’ve thought that the most expensive home ever sold in Australia would be an apartment? But perhaps take peek into this two-story penthouse and you’ll be less surprised.
The deal includes the top three floors of the ultra-modern Tower 1 development of One Sydney Harbour at Barangaroo South, which is still under construction.
The stunning Renzo Piano-designed building will soon be home to a lucky local buyer, who is expected to move into their brand new two-storey penthouse complete with a rooftop swimming pool, spa, gymnasium, and not one, not two, but nine luxurious bedrooms!
And get this – the vast main bedroom is equal in size to many family homes!
While the price tag might make your eyes water, it seems like this savvy buyer is definitely getting their money’s worth when it comes to the sheer scale and luxury of this incredible property.
$60 million – Level 43/163 Castlereagh Street, Sydney, NSW
Sold date: 2021
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.
The lavish penthouse, spanning a whopping 2400 square metres, boasts four bedrooms, five bathrooms, and a private rooftop terrace with a swimming pool offering 360-degree views of Sydney Harbour and the city.
Designed by Blainey North, the interiors of the penthouse feature a blend of Art Deco furniture and modern finishes, while the amenities include an internal lift, conference room, and gym.
The penthouse offers unprecedented levels of privacy, an open living space, and opulence with 24-hour security, and access to the property is via a private lift that opens to a glass wall with built-in champagne storage.
Malouf, who sold Dial-a-Dump for $578 million in 2018, also purchased a $30 million Double Bay pad and a $20 million Northern Beaches holiday home in the same year.
Discover more real estate in Sydney CBD.
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.
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.
