Inside Australia’s most expensive home sold in 2022 at Vaucluse, Sydney
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Australia’s most expensive house has seven bedrooms, three kitchens, 13 bathrooms, a cinema, panoramic views of the Harbor Bridge and the Sydney Opera House, and a price tag of $62.75 million.
Sydney was home to seven of the top 10 most expensive homes sold in 2022, with Melbourne taking one spot on the list via a Toorak mansion and Queensland claiming two spots with homes in Noosa on the Sunshine Coast.
Sydney’s eastern suburbs comprised half of CoreLogic’s elite list of the most expensive real estate to change hands this year.
At the top of this list was a mansion on Wentworth Road in the Vaucluse that in February sold for $62.75 million.
Australia’s most expensive house has seven bedrooms, three kitchens, 13 bathrooms, a panoramic view of the Harbor Bridge and the Sydney Opera House, and a price tag of $62.75 million.
The mansion on Wentworth Road in Vaucluse (pictured) sold for $62.75 million in February 2022
That’s 7.9 times Vaucluse’s median price of $7.944 million, already making it Australia’s most expensive suburb.
Chinese car dealer Helen Huang moved into the property in October as a private sale and is listed as owner-occupier, CoreLogic records show.
Your new home, built in 2007, has a 20-car garage, two internal lifts, indoor and outdoor swimming pools, a gym, a cinema, a private internal function area and manicured gardens designed by Australian landscape designer Paul Bangay.
The home sold for $4 million in October 2002 and was previously on the market for 276 days in 2019.
A previous house on the block sold for $895,000 in January 1987.
Melbourne entered the elite list in fourth place, behind three houses in Sydney’s eastern suburbs, with a newly built $38.5m mansion on Orrong Road in Toorak, in the inner east of the city.
Queensland’s Sunshine Coast came in eighth, with a Sunshine Beach house in Noosa selling for $28.5 million in April.
Of the 10 most expensive homes sold in 2022, eight of them sold when interest rates were still at a record low of 0.1 percent and before the Reserve Bank of Australia raised the cash rate in May. for the first time since November 2010. .
Sydney was home to seven of the 10 most expensive homes sold in 2022, including a home (pictured) in Palm Beach that sold for $27.5 million in June.
The remaining two, both in Noosa, were sold in June and July during the RBA’s first two rate hikes during this tightening cycle, which in 2022 posted eight consecutive monthly hikes with more expected in 2023.
The cash rate is now at a 10-year high of 3.1 percent, so a very wealthy person hypothetically borrowing to buy a $62.75 million mansion with a 20 percent deposit, paying a $50.2 million loan, it would get $268,656 a month in repayments, an increase of $75,742 from $192,914 in May.
That’s based on a Commonwealth Bank variable rate that increased from 2.29% to 4.97%, effective December 16.
Queensland’s Sunshine Coast knocked out the two remaining spots on the top 10 list, including a $27 million mansion in Noosa Heads (pictured) that was sold in July
Sydney’s eastern suburbs were home to six of the 10 most expensive suburbs in Australia, including Vaucluse, Bellevue Hill (median price $6.882 million), Rose Bay (median price $5.661 million), Dover Heights ($5.087 million), Double Bay ($4.944 million) and Bronte (median price $4.668 million).
Melbourne made the list in fifth place with Toorak with a median price of $4.956 million.
Other than that, Sydney was home to nine of Australia’s 10 most expensive suburbs, which also included Cremorne Point ($4.944 million median price), Mosman ($4.871 million median price) and Longueville ($4.460 million median price). Dollars).
None of Australia’s most expensive houses fall within a Liberal-controlled federal constituency, but Noosa residents are represented in Canberra by a national parliamentarian.