Expensive and Luxurious Homes in Australia

Have you ever wondered about millionaire and billionaire homes in other parts of the world? In today’s global economy, it is interesting to compare real estate prices and residential structures to see what money will buy. Today we’re going to take a snapshot of Australia’s top properties and real estate trends.

According to the RP Data Rismark 5-city housing price index, prices are going up in three of the five major cities. The increased values in Sydney, Melbourne and Adelaide over the past twelve months have brought the country’s average values up 3.99 percent, which is not a bad 2014 1st quarter report. Perth and Brisbane have not had the volume to keep up, but projections are good unless the looming rate hike from 2.25% to 2.75% happens later in the year. Mega-homes and mansions, of course, are in a different pricing category altogether and have experienced a slight decline.

The properties below are five of the most luxurious and expensive sold homes within the past couple of years. Each of the super-rich owners actually had to reduce their asking prices to get the homes to sell, which might be due to outrageously high price points in the beginning. Take a look and let us know what you think of these prime Australian properties.

1. Ben Doyle’s Vaucluse Mansion – Sydney

Three levels, 6,500 square feet, nine bedrooms and ten bathrooms, this pricey mansion in Sydney is one of the most expensive residential properties in Australia. Evidently, its location is in the same neighborhood as business mogul’s James Packer and Justin Hemmes – yet not in an elite enough area to command it’s $60 million asking price, according to Australian real estate experts. Although in late 2013, Angelina Jolie, Brad Pitt and their six children moved into a nearby 1920s Vancluse mansion – so things could be looking up for Doyle.

2. Chris Ellison Mosman Park Mansion – Perth

Mining heiress, Angela Bennett’s riverside mansion was purchased a few years ago by Chris Ellison, Aussie mining magnate. The asking price was actually $70 million, but after watching the property sit, the price was reduced to a much smaller price tag of $57.5 million, which is still more than most millionaires can handle. The estate is close to 25,000 square feet and includes a cinema, three buildings, tennis court and a private jetty.

3. Altona Mansion: Point Piper – Sydney

 

This mansion located on the harbor at Point Piper had to reduce its $57.5 million asking price to move the property’s sale. The eight-bedroom, seven-bathroom home finally sold for $54 million after being on the market for several years. The purchaser’s name remained under the radar, however newspapers guessed that it is now owned by Shandong-born businessman, Xiuzhen Ding – owner of Chaimovich Investments, which is located in Melbourne. It’s anyone’s guess.

4. Ric Stowe’s Devereaux Farm – Perth

Mr. Luke Herbert, one of Australia’s youngest rich, according to BRW’s Young Rich List of Australians who are aged 40 and under. In late 2013, he became the proud owner of the Devereaux Farm, located in Perth’s outer metropolitan are. The property is amazing and luxurious with five on-premise residences, two helipads, a polo field and something every farm should have – an airfield and runway. The property was valued at $68 million four years ago when it went into receivership after then owner Ric Stowe private empire collapsed in 2010. It’s pretty clear that Luke just made a fortune on this property when he puts it on the market someday in the future.

5. Virginia Avenue Waterfront Property – Brisbane

This spectacular three-level riverfront home is located a couple miles from the city center of Brisbane. Six-bedrooms, five-bathroom mansion is situated on 5,426 square feet of prime property. It’s a great price for all that this property includes, such as a six-car garage with lift, a boat shed, media room, video security, riverfront patio and a 49-foot pontoon boat. Last selling price: $7.5 million.