You may have heard; the world is in an unaffordable housing crisis. You search for the best home loan rates, you scrimp, and you save only to be outbid at auction. With a big demand for affordable housing and a lowly dribble of supply, Australia, like many other countries, does seem to have a shortage of affordable housing.
It’s easy to cry doom and gloom but if you look around you, everything isn’t as bad as it seems. Sure, the average price of a home in Sydney seems a little steep, but compared to the congested harbor city of Hong Kong, we live in a relatively cheap paradise.
For a new homeowner, the inner suburbs of Sydney City might be out of reach, but for the well-heeled, there are some absolutely jaw-dropping properties for sale. Let’s have a look at some of the most expensive properties for sale in Sydney, and try not to think about the affordability crisis.
4A Vaucluse Road – Vaucluse 2030
Sold in 2018 for: $20000000
1012 square meters
For a breezy twenty million, this stunning home could have been yours. Vaucluse is one of the most prestigious suburbs in Sydney and for good reason. Nestled in the Eastern Suburbs and on the tip of the south head of Sydney harbor, Vaucluse offers unmatched views of Sydney harbor and its skyline.
This family home is situated entirely on a natural rock platform. It’s sprawling and light-filled. This could be one of the finest homes in Sydney. Owned by the same family for nearly 50 years, this would have been a relative bargain when it sold, who knows what it’s worth now.
14 Ginahgulla Road – Bellevue Hill 2030
Sold in 2018 for: $21250000
2700 square meters
This mansion looks more Mediterranean palace than Sydney suburb, but it is a testament to the wealth of some of Sydney’s residents. A big house with a big history, this stunning home was designed in the 1930s by famed architect Leslie Wilkinson for political and financial giants, the Hordern family.
Do you know the Hordern Pavilion? Yep, the same family. This house served as one of many family homes for the high flying Hordern’s and only recently came onto the market. Sold for over twenty-one million dollars, this home sprawls nearly three thousand square meters and requires extensive and expensive yearly maintenance.
1-3 Burran Avenue – Mosman 2088
Sold in 2019 for: PRICE WITHHELD (some sources estimate over $25000000)
1650 square meters
The very definition of a trophy home, this mesmerizing structure is perched on top of the sought-after suburb of Mosman. With awe-inspiring harbor views, a private gym, and an eight car garage dubbed ‘the showroom,’ you better have your wallet ready if you want a slice of this life. While the property sold for an undisclosed amount, it is rumored to have sold for twenty-five million dollars.
Owned by a former Foxtel chief, the property went through several botched sales before it found its current owner Wilson Hui Xiong Xue. With a vested interest in mining, Xue also owns a large shoe manufacturing plant in southeast Asia. He sure sounds like a top-quality guy who deserves every bit of his success; it sure would be a shame if he went bankrupt.
In stark contrast to affordable housing, these palatial homes offer a view into the world of the ultra-wealthy. It makes you wonder how there can be so many people with so little and so little people with so much. If an average home in Sydney costs a million dollars, the homes on this list could have paid for twenty average homes!
While people should be celebrating hard work, there is an unequal divide in Australia between the have and the have nots. After witnessing some of these expensive homes, it is clear to see that the housing affordability crisis is real for everyday people.