{"id":41310,"date":"2022-12-28T09:36:02","date_gmt":"2022-12-27T20:36:02","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=41310"},"modified":"2022-12-28T09:36:02","modified_gmt":"2022-12-27T20:36:02","slug":"the-life-of-the-rich-famous-inside-sydneys-priciest-homes-of-2022","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/the-life-of-the-rich-famous-inside-sydneys-priciest-homes-of-2022\/","title":{"rendered":"THE LIFE OF THE RICH & FAMOUS: Inside Sydney\u2019s priciest homes of 2022"},"content":{"rendered":"

PHOTO: There were 28 Sydney properties sold for above $20m in 2022. NEWS.COM.AU<\/strong><\/p>\n

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It\u2019s been a strange year for Sydney<\/a> real estate \u2013 prices fell across most of the market, but there were also 28 properties that sold for over $20m.<\/p>\n

\"Fergs<\/a><\/p>\n<\/div>\n

The staggering spending spree resulted in one of the biggest years of top-end property sales on record.<\/p>\n

\"Luxe<\/a><\/div>\n
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Luxe Listings Sydney star reveals how much commission agents make from their sales<\/a><\/h2>\n<\/header>\n<\/div>\n

And it flew in the face of the rest of the market, which was\u00a0plunged into a downturn\u00a0when the Reserve Bank began the biggest succession of interest rate hikes in 30 years.<\/p>\n

A review of the year\u2019s highest residential property sales showed six properties were snapped up for prices over $50 million.<\/p>\n

Two of these mega sales occurred this month for undisclosed sums that industry insiders reported were about $60 million and $70 million, respectively.<\/p>\n

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\"An<\/div>\n

An artist\u2019s impression of One Circular Quay, where a unit was reported to have sold for about $70m.<\/strong><\/em><\/p>\n<\/div>\n

The circa $70 million property \u2013\u00a0a sub-penthouse bought off the plan\u00a0in the under construction building One Circular Quay<\/a> in the CBD \u2013 was the highest residential sale of the year.<\/p>\n

It was followed by the $62.75 million sale of a 2400sqm luxury estate on Wentworth Rd in Vaucluse to the owners of China\u2019s largest Toyota dealership.<\/p>\n

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A three-level house perched on the southern side of Manly Beach<\/a>, allowing for uninterrupted ocean and beach views, was the highest sale by auction at $21.5 million.<\/p>\n

There were an additional 26 sales above $20 million spread mostly across Sydney\u2019s harbour enclaves, coastal suburbs and north shore.<\/p>\n

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\"This<\/div>\n

This Wentworth Rd, Vaucluse house sold for nearly $63m.<\/strong><\/em><\/p>\n<\/div>\n

Among the buyers behind some of the year\u2019s top sales were fashion designer Nicky Zimmermann and partner Chris Olliver, who spent $60 million on a waterfront property on Coolong Rd in Vaucluse.<\/p>\n

And in Point Piper, Sydney FC managing director Scott Barlow and wife Alina paid $45 million for the waterfront mansion Akuna, the previous home of musician Warren Daly and wife Karen, the author of popular fitness series Fats & Figures.<\/p>\n

Medical entrepreneur Glenn Haifer snapped up Tirrikee, a Darling Point mansion, for $60 million, taking it off the hands of Lisa Allen, the wife of yachtie Matt Allen.<\/p>\n

Included in the top Sydney sales of 2022 were multiple properties that changed hands for millions more than their already lofty 2021 and 2020 prices.<\/p>\n

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\"3<\/div>\n

3 Lindsay Ave, Darling Point sold for $60m.<\/strong><\/em><\/p>\n<\/div>\n

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\"This<\/div>\n

This Vaucluse on Coolong Rd sold for $60m.<\/strong><\/em><\/p>\n<\/div>\n

Many of their buyers, who often made the purchases in cash, were reported to be content to pay these premiums due to the scarcity of homes on waterfront blocks or other coveted positions.<\/p>\n

It\u2019s come as prices in the Sydney market as a whole dropped nearly 6 per cent this year, with some regions such as the northern beaches recording even larger average falls of about 14 per cent, or $330,000.<\/p>\n

Experts attributed the falls to a cocktail of interest rate hikes, declining buyer sentiment and record housing unaffordability reducing participation in the housing market.<\/p>\n

SQM Research director Louis Christopher said the top-end of the housing market \u201coutperformed\u201d because it was largely immune to the forces pulling down prices in the rest of the market.<\/p>\n

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\"11<\/strong><\/em><\/div>\n

11 Collins Ave, Rose Bay sold for $29m.<\/strong><\/em><\/p>\n<\/div>\n

He explained that the continued demand for high-end properties in Sydney highlighted the city\u2019s robust economy, continued Covid recovery and enduring status as a global destination for the wealthy.<\/p>\n

\u201cThe economy is running hot,\u201d Mr Christopher said. \u201cThe RBA is lifting interest rates because the economy is actually overheated, which as a result, is stoking inflation.<\/p>\n

\u201c(Top end) buyers are more affected by the state of the economy \u2026 such buyers are normally business owners, CEOs and other high net worth individuals who do best when their businesses and other income earning assets do well.<\/p>\n

\u201cSuch businesses and assets thrive under strong economic conditions, such as what we are having now \u2026 This is why the top end of the housing market has been outperforming in 2022.\u201d<\/p>\n

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\"This<\/div>\n

This Palm Beach sold for the highest price on the northern beaches at $27.5m.<\/strong><\/em><\/p>\n<\/div>\n

Ray White economist William Clark said there was a drop in luxury sales this year and this kept the market for mansions elevated.<\/p>\n

\u201cThere is nothing forcing owners at the top end to go to market,\u201d he said. \u201cIt\u2019s often the case that the wealthy don\u2019t need to sell and there is hardly any of that kind of stock on the market.\u201d<\/p>\n

Sothebys Sydney director Michael Pallier, who sold many of this priciest properties, said the rise of highly profitable tech industries had created a larger wealthy class in Sydney than decades before.<\/p>\n

This meant more buyers with the eye watering budgets to be able to afford prices over $20 million, Mr Pallier said.<\/p>\n

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\"This<\/div>\n

This home on Rupertswood Ave, Bellevue Hill sold for $26.5m.<\/strong><\/em><\/p>\n<\/div>\n

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\"This<\/div>\n

This Stanley Ave property was Mosman top sale. It sold for $33m.<\/strong><\/em><\/p>\n<\/div>\n

Despite this year\u2019s high sales, it was the first year in close to a decade that the nation\u2019s priciest home sale was not in Sydney. Instead it was in Melbourne suburb Toorak, where crypto king Ed Craven paid $80 million for a large mansion. He was reported to be planning a knockdown-rebuild.<\/p>\n

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SYDNEY\u2019S TOP RESIDENTIAL SALES FOR 2022<\/b><\/p>\n

Sub-penthouse, One Circular Quay $70,000,000*<\/p>\n

38A Wentworth Rd, Vaucluse $62,750,000<\/p>\n

Tirrakee, 3 Lindsay Ave, Darling Point $60,000,000<\/p>\n

Coolong Rd, Vaucluse $60,000,000<\/p>\n

Sub-penthouse 2, One Circular Quay, $60,000,000*<\/p>\n

Belhaven, Victoria Rd, Bellevue Hill $52,500,000<\/p>\n

Akuna, Wolseley Rd, Point Piper $45,000,000<\/p>\n

Rothesay, Cranbrook Rd, Bellevue Hill $37,000,000<\/p>\n

Woodlands, Wallarong Rd, Woollahra $35,000,000<\/p>\n

Stanley Ave, Mosman $33,000,000<\/p>\n

Wentworth Rd, Vaucluse $31,000,000<\/p>\n

Iluka Rd, Mosman $30,500,000<\/p>\n

Collins Ave, Rose Bay $29,000,000<\/p>\n

167 Pacific Rd, Palm Beach $27,500,000<\/p>\n

Pinehill Ave, Double Bay $26,800,000<\/p>\n

Rupertswood Ave, Bellevue Hill $26,500,000<\/p>\n

83 Pacific Rd, Palm Beach $26,500,000<\/p>\n

Carrara Rd, Vaucluse $26,290,000<\/p>\n

Burran Ave, Mosman $25,000,000<\/p>\n

5a, 5, 7, 9-1 Crane Rd, Castle Hill $24,000,000<\/p>\n

Chamberlain Ave, Rose Bay $23,000,000+<\/p>\n

Raglan St, Mosman $23,000,000<\/p>\n

The Crescent, Vaucluse $22,000,000<\/p>\n

Reddall St, Manly $21,500,000<\/p>\n

50 Kampala Rd, Bellevue Hill $21,500,000<\/p>\n

Gardyne St, Bronte $21,000,000<\/p>\n

Land Rd, Centennial Park $20,500,000<\/p>\n

53 Kampala Rd, Bellevue Hill $20,500,000<\/p>\n

42 Wentworth Rd, Vaucluse $19,500,000<\/p>\n

Lennox St, Mosman $19,500,000<\/p>\n

Originally published as\u00a0Inside Sydney\u2019s priciest homes of 2022: all the 28 properties sold for $20m+<\/a><\/p>\n

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