How about $60 million. In May 2021, The Boyd Residence in Sydney's ANZ building set the record for the most expensive apartment in Australia.
$60 million: A look inside the most expensive property sold in Australia in 2021. This Sydney CBD apartment sold for $60 million, making it the most expensive apartment sold in Australia in 2021.
The buyer behind a luxury penthouse which has set a record for Melbourne's most expensive apartment has been revealed as a millionaire in his mid-30s. Adrian Portelli forked out $39 million for the apartment set atop towers called Sapphire by the Gardens on La Trobe St in the CBD.
The (approximately) 190 square metre penthouse's $24 million price puts it at $126,316 per square metre. That sits well above the previous record held by a penthouse in Sydney city's brutalist Sirius building, which achieved $118,012 per square metre when it sold for $19 million in June 2021.
In the first place, as Sydney's most expensive property sold in the 2022/23 financial year, was on 29 Wentworth Street in Point Piper – also known as UIG Lodge. The waterfront mansion sold for an astonishing $130 million in December last year in what was the biggest record-smashing sale since 2018.
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.
Melbourne has some of the richest suburbs in the country and Toorak is considered the most expensive one. The median price for units and houses is highest in Toorak. The market average price for houses and units is higher in Toorak, East Melbourne, Main Ridge, Brighton, and Middle Park.
Domain's Rent Report for the December 2022 quarter reveals Canberra remains the country's most expensive city to rent a house at the median rate of $690-per-week.
Overall, new luxury Australian apartment prices increased by 6.7 per cent over 2020 to an average of about $25,000 a square metre. Recently in Sydney's Elizabeth Bay a three-bedroom, three-bathroom penthouse sold for $8.5 million, about $2.5 million above its price guide.
🇺🇸 U.S. Singapore and New York City tied for the first rank amongst the world's most expensive cities in 2022, pushing Israel's Tel Aviv from the first place in 2021 to the third place in 2022. Both these cities had high inflation and a strong currency. Surprisingly, this is the Big Apple's first time atop the ranking.
The Principality of Monaco is the undisputed leader in the global real estate market. The value of housing is due to the combination of a tiny area with a high population density.
To date, the title for the most expensive house in the world is held by the Buckingham Palace in London. The larger-than-life property (which cannot be sold) is over 200 years old and is currently owned by King Charles III after the demise of the Queen of England, Elizabeth II.
Over on Sydney's lower north shore, Hunters Hill and Woolwich are situated on a small peninsula that separates the Lane Cove and Parramatta Rivers. Aside from some of Sydney's richest, the area is also home to a number of heritage buildings and impressive houses.
Sydney Is Still Australia's Most Expensive Place To Live, but Melbourne and Brisbane Are Not Far Behind. Singapore and New York have tied for the title of world's most expensive city in this year's Worldwide Cost of Living report. Perth seems to be the only Aussie capital bucking the trend.
Of the top 10 richest postcodes, 1 is located in Western Australia, 1 is located in Victoria and the remaining 8 are all located in some of the most exclusive spots across Sydney. At the top of the list is Western Australia's 6011 postcode, which comprises Cottesloe and Peppermint Grove.
The average annual salary in Australia is $68,900 and $35.30 per hour. It is just the average salary for basic workers but skilled and experienced workers also earn around $108,980 annually. The average salary also varies depending on the field of work and the job role of workers.
Bellevue Hill, Sydney
In the centre of Sydney's east, some of Sydney's most awe-inspiring properties are nestled within Bellevue Hill's green hills. It takes out the title as the most expensive suburb in Australia, and for good reason. A meander through the suburb's spectacular streets says it all.
Sydney is the only Australian city that made it to the top 10. 126,900 resident millionaires, 184 centi-millionaires, and 15 billionaires live in it. Bellevue Hill, Darling Point, Mosman, Point Piper, and Vaucluse are some of the world's most exclusive residential suburbs, all belonging to Sydney.
And the winner is… St Georges Road. All thanks to a brilliant $80 million sale in 2022. The Toorak mansion at 29-31 St Georges Road topped the Victorian price benchmark as the most expensive home in the area, selling for an astounding $80,000,088 in an off-market deal.
In May, Melbourne's median house value was 29.6% below Sydney's, a dollar equivalent of roughly $382,500. The percentage of household income spent on rent was also much higher in Sydney than in Melbourne, 31.7% compared with 26%.
Sydney is considered more of a leisure city than Melbourne. While it may not have the coffee culture that Melbourne has, it is home to some of the country's best restaurants. It even has a cosmopolitan cocktail scene with famous bars like Maybe Sammy and Old Mate's Place.