With all the controversy around the sale of a $4 million Victorian mansion in Adelaide, and with an offer of $5 million for a Brisbane home that was auctioned off in November, it’s a good time to reflect on which properties are the most valuable in Australia.
The value of the houses in question range from a modest 1.1 million to a staggering $11 billion.
But just how much are they worth?
The most expensive house in Australia, according to ANZ, is a 4.5 million-square-foot Georgian house at 535 Northgate Drive in Adelaide.
It’s the most luxurious home in Australia and the most sought-after property in the state.
It is currently listed at $5.6 million, according the auction house.
A $1.5-million Victorian mansion at 27 Southbourne Drive in Brisbane was the second most expensive property in Australia on the same day the listing went public, but is now down to $1 million.
Brisbane’s $3.5m house at 27 Northgate Dr is currently the third most expensive in the country.
Melbourne’s $2.7m house in Fitzroy Park is now the fifth most expensive home in the city, and its listed at a whopping $4.7 million.
Adelaide’s $1m Georgian house, which sits on the corner of South Kensington and South Melbourne Streets, is currently being sold for $1million.
All of these properties are located in the inner city of Melbourne, which is a major tourist hub and home to a large number of international events.
While the Victorian mansion and the Brisbane home are likely to fetch higher prices than other properties in Melbourne, the property at Fitzroy is in a less desirable location and is less well known than the other properties.
An ANZ report published last year said Melbourne’s house price index is “extremely volatile”, and that Melbourne had “a number of significant property price increases over the last few years”.
The median price of a Melbourne house is now $3 million, down from $3,500 in 2015.
Meanwhile, the average price of an Adelaide house is down by more than $300,000 from $2 million in 2015 to $2,000 in 2019.