In 2023, a flower wholesaler made headlines by purchasing Australia’s most expensive house for $76 million. This extravagant property offers panoramic views of the Sydney Harbour Bridge and the Opera House, boasting eight bedrooms, eight bathrooms, and six car spaces.
The palatial property was a staggering 9,500 times the selling price of Australia’s cheapest house, which was just $8,000 and situated in the remote Western Australian town of Kambalda East.
Leo Lynch, the former chief executive of the Lynch Group, emerged as the buyer of Australia’s priciest house. The purchase occurred in May, but settlement didn’t happen until November, coinciding with the month when the Reserve Bank raised interest rates for the 13th time in 18 months.
The heritage-listed house, known as ‘Leura,’ boasts a construction date of 1891 and is situated on Victoria Road in the ritzy Bellevue Hill.
In 2023, a flower wholesaler made headlines by purchasing Australia’s most expensive house for $76 million. Situated in Bellevue Hill, the property offers panoramic views of Sydney Harbour, featuring eight bedrooms, eight bathrooms, and six car spaces.
Melbourne made its mark on the list, securing third place with a nine-bedroom house on Shakespeare Grove in Hawthorn, which sold for a whopping $41 million in March.
The sole regional entry was a mansion, nestled on 50 hectares of land, boasting six bedrooms, eight bathrooms, and eight parking spaces at Picadilly Hill Road in Coopers Shoot, just 10km from Byron Bay. This property sold for $33.65 million in April, securing its place in eighth position.
Victoria Road in Bellevue Hill, home to the property that sold for $33 million, is so prestigious that it secured three spots in the national top ten. Nearby, Kambara Road in the same suburb also claimed two places, further solidifying the area’s desirability and high property values.
Sydney’s eastern suburbs dominated with seven places in the top 10, while Melbourne’s east secured two spots. The Byron Bay hinterland in the far north of New South Wales claimed one place.
Notably, Queensland’s Sunshine Coast, Sydney’s Northern Beaches, the Lower North Shore, and Perth’s Swan River postcodes were absent from this year’s list. Consequently, renowned areas such as Noosa, Palm Beach, Mosman, and Cottesloe did not make an appearance on the elite list as they typically do.
Bellevue Hill was the location of Australia’s second most expensive house, featuring a home on Kambara Road with four bedrooms, four bathrooms, and four car spaces, which sold for $61.5 million in May.
Melbourne made its mark with a nine-bedroom house on Shakespeare Grove in Hawthorn, selling for $41 million in March, securing third place on the list.
Another property in Vaucluse claimed seventh spot with a sale price of $36.2 million in July. This home, boasting four bedrooms, five bathrooms, and six car spaces, is conveniently located a short walk from Nielsen Park.
The only regional entry was a mansion on 50 hectares of land at Picadilly Hill Road in Coopers Shoot, 10km from Byron Bay. Selling for $33.65 million in April, this property secured ninth place on the list, featuring six bedrooms, eight bathrooms, and eight parking spaces.
Melbourne’s second entry on the top ten list was a $33.5 million house on Whernside Avenue in Toorak, with three bedrooms and two bathrooms. This sale in April placed it in tenth position.
Rounding out the top 11 was a seven-bedroom, seven-bathroom house on Victoria Road in Bellevue Hill, which sold for $33 million in May 2023.
In nearby Vaucluse, a five-bedroom house with four bedrooms situated right on Sydney Harbour was sold for $39 million in October. This Queens Avenue home claimed the sixth spot on the list.
