$1bn record: Top 20 Australian home sales of 2024 revealed
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The top 20 Aussie home sales of 2024 tallied a mind blowing $1bn.
It’s been another bumper year for top-end sales across the nation, with a second record-breaking $130m deal and several real estate offices reporting record-breaking turnover.
The top 20 sales total a mind-blowing $1bn.
“I think it’s been fantastic,” says Double Bay prestige agent Brad Pillinger, who was involved in three of the nation’s top sales: $130m (no. 1); circa $85m (no. 2) and $42m (no. 9).
Pallier, another big player this year, was also upbeat.
“In general it’s been a very good year with our offices reporting a record circa $3bn in turnover,” he said, partly due to the number of Sothebys offices increasing across Sydney, the Southern Highlands and Byron Bay.
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The Point Piper mansion ‘Elaine’ on New South Head Road, Point Piper, was the nation’s highest property sale for 2024 at $130m. Picture by Damian Shaw
The Sotheby’s boss reports a dip in sales after July, with a “5 to 10 per cent gap between where the buyers were and the sellers were, which slowed turnover”, but a rebound after the US election.
“Things picked up big time and we’ve had a lot of sales, a very strong end to the year,” Pallier said.
“The US election coincided with the dollar dropping and a low dollar is very good for us, with people transferring money from American dollars, which is of course linked to the Hong Kong dollar.
“And the second thing was that the stockmarket rallied.
“It’s all about affordability, so buyers had more money if they sold their shares.”
Buyer’s agent Simon Cohen, whose company Cohen Handler has offices in Sydney, Melbourne and Brisbane, also reported a record $1.6bn in deals.
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Elaine was unrenovated, apart from a few rooms.
All up, the top 20 Australia home sales of 2024, tallied to a record spend of $1bn.
“We’ve seen records broken in Sydney, but also Brisbane,” Cohen said, who introduced the purchaser in many of the nation’s biggest transactions over 2024.
The top buyer’s agent says property prices are softening for homes priced up to $20m and what happens in 2025 is “entirely dependent on interest rates”.
Two big notable deals didn’t quite make the list, but require a mention: Cohen’s colleague at the Cohen Handler Brisbane office, Jordan Navybox, introduced the buyer to the luxury home of commercial builder Brett Walker at 32 Sutherland Ave, Ascot, that last month sold for $23m — a record for Brisbane, negotiated by Ray White Ascot principal Damon Warat. And an architectural home on a 1214 sqm beachfront block at 41-45 Hedges Ave, Mermaid Beach set a Gold Coast record when it sold for $28m in February to billionaire Clive Palmer, via Amir Mian of Mian Prestige.
AUSTRALIA’S BIGGEST HOME SALES OF 2024
No. 1: Elaine, New South Head Rd, Point Piper, $130M
Tech billionaire Scott Farquhar has sold his Point Piper beachfront mansion for exactly $130m, sources confirmed exclusively to News Corp in October.
He’d broken the national house price record when he bought the crumbling home for $71m in 2017 from JB Fairfax.
This latest deal, via Pillinger and Ken Jacobs of Forbes Global Properties, matches the current $130m national house price record, also set by Farquahar, the Atlassian co-founder, for another Point Piper home, UIG Lodge, in November, 2022.
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Rockleigh, 120-122 Wolseley Road Point Piper in Sydney, sold for circa $85m in June. Picture: Richard Dobson
No. 2: Rockleigh, Wolseley Rd, Point Piper, Circa $85m.
A pale pink home in Point Piper that last traded for $325,000 in 1978 came in at No. 2 with its circa $85m sale via Pillinger and Pallier in June.
Particularly unspectacular from the street, it’s owned by medical specialist Philippa Harvey-Sutton, who inherited the property from her mother, Val Rundle, in 2016.
It’s yet to settle, but it’s understood the buyers are Frank Qiang Geng, a businessman who made his fortune from recycled shopping bags, and his wife Juanjuan Zhao, who will rebuild.
Their current home, a beachfront in Rose Bay, is now listed with Pillinger and Pallier with a $55m guide. That’s a $20m discount on the $75m dream price when it was quietly listed six months ago.
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Alcooringa, a trophy home for sale in Bellevue Hill in Sydney, sold for $80m in August.
3. Alcooringa, Victoria Rd, Bellevue Hill, $80m
Food blogger Stephanie Conley-Buhre’s $80m sale of the Victoria Rd Spanish Mission-style residence Alcooringa sold by Ray White Double Bay director Ashley Bierman in August, with Cohen introducing the expat buyer Hannah Edwards.
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An artist’s impression of One Circular Quay, due to be complete in late 2026.
4. Subpenthouse, One Circular Quay, Sydney CBD harbourfront. $61.75m.
This sold in October, via CBRE chairman Justin Brown.
The 58-level, $3bn building by Lendlease, with Mitsubishi Estate Asia, is expected to be compete in late 2026.
5. Subpenthouse, One Circular Quay, Sydney CBD harbourfront, circa $60m.
A second sub-penthouse sold in recent months, via CBRE chairman Justin Brown.
Two more subpenthouses sold for $60m and $70m in December, 2022, There are three left to sell, along with a three-level $140m+ penthouse.
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69 Fitzwilliam Rd, Vaucluse sold in November.
6. 69 Fitzwilliam Rd, Vaucluse $52m
The waterfront home of Dawn Lincoln-Smith, which last traded for £19,500 in 1958 when with her late husband Paul Lincoln-Smith, the former chairman of Magnum Gold and Magnum Resources, sold in November through Michael Pallier of Sotheby’s and Highland Double Bay Malouf director David Malouf.
7. Notrella, 142 Wolseley Rd, Point Piper $51.5m
Coolmore Australia boss Tom Magnier sold his circa 1904 Queen Anne Federation-style mansion on a 984 sqm block to Briana and Ben Voltz, Melbourne based co-founder of e-commerce marketing tech company rokt in March. It had been listed with Ken Jacobs of Forbes since October, 2023.
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Monkton, 53-55 Cranbrook Rd, Bellevue Hill, sold in September.
8. Monkton, 53-55 Cranbrook Rd, Bellevue Hill, $43.5m
Stephanie Conley-Buhre and her venture capitalist husband Oskar Buhre snapped up this Espie Dodds-designed five-bedroom mansion on a 1,252 sqm block in September through McGrath Double Bay’s William Manning and Luke Hogan, with buyer’s agent Cohen. It was owned by veteran investment banker Tim Burroughs and his wife Judith, who bought it for $30m in 2022.
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96 Victoria Rd, Bellevue Hill sold in early November.
9. 96 Victoria Rd, Bellevue Hill, $42m
EverBlu Capita founder Adam Blumenthal and his wife Annabelle Shamir sold their trophy home in early November to Monaco-based e-commerce entrepreneurs Olivia Skuza and Heath Wells, who will return to Australia in the New Year.
The six-bedroom mansion at 96 Victoria Rd was listed for just three weeks with a $45m guide via Ray White Double Bay’s Ashley Bierman and Elliott Placks with Pillinger’s Brad Pillinger. Cohen represented the buyers.
10. Kia Lama, Bradleys Head Rd, Mosman, $40m
The Federation mansion of investment banker and Sydney Swans chairman Andrew Pridham set a new Mosman house price record when it sold on the quiet for $40 million via Michael Coombs of Atlas in August. Considered one of Mosman’s finest, it’s on a 2600 sqm block, comes with a tennis court, swimming pool, gym, and views across Mosman to the city. It last traded more than 25 years ago when sold by John and Patricia Gerahty for $6.05m.
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12 and 10 Ian St, Rose Bay sold in March.
11. 10-12 Ian St, Rose Bay, $40m
One of the family homes cost £13,500 in 1959, the other $2.35m in 2014 … the site was sold in March to a developer who’s now planning to build a dozen luxury apartments.
Fortis Group director Charles Mellick confirmed the $40m purchase of the 2000 sqm site.
“We’re planning 10 to 12 large apartments,” Mellick said.
“I’m on my way to New York now to meet with a Chicago-based designer who will be doing the interiors and MHNDU will do the exterior.
It was an amazing outcome for the Adamson family siblings, retired geologist Mark Adamson and his sister.
The sales agent, Raine and Horne Double Bay’s Alex Lyons, had had a $30m-$33m price guide. He had no comment about the sale when contacted.
Records show that Mark’s dad, the late Charles Adamson, had bought No. 12 Ian St, Rose Bay for £13,500 in 1959, while their mum, the late Florence Adamson, bought No. 10 for $2.35m in 2014.
14 St Georges Rd, Toorak, designed in the 1920s, sold in February.
12. Karam, 14 St Georges Rd, Toorak, $40m
A Toorak mansion owned by businessman and whiskey baron David Prior sold Melbourne’s highest price for the year in February. an eye-watering $40m.
Designed by architect AJ Ainslie in the 1920s, the impressive five-bedroom digs on a 3000 sqm block feature an Art Deco-inspired swimming pool and spa, tennis court and gym. Paul Bangay created the gardens. Prior bought it for $23.3m in 2014. Kay & Burton’s Ross Savas and Jamie Mi managed the sale. Savas described it as “one of the most iconic homes in Melbourne”. It’s still half the price of the Melbourne record of $80m, set in August 2022 for 29-31 St Georges Rd, Toorak.
35-39 Albany Rd, Toorak, sold in March.
13. 35-39 Albany Rd, Toorak, About $40m
The 10-bedroom mansion owned by late billionaire David Hains sold in March after getting a $5m haircut from initial hopes. The Albany Rd gem spent close to a year on the market before the sale, which is tipped to be followed by a $10m-$20m renovation. Marshall White’s Marcus Chiminello handled the listing, with a buyer referred by Kay & Burton’s Andrew Sahhar. Hains was a noted horse breeder with notable mounts including Melbourne Cup winner Kingston Rule, and an engineer, but made his money as the founder of Portland House Group hedge fund.
1 Rawson Rd, Rose Bay sold in July.
14. 1 Rawson Rd, Rose Bay, $38,500,000.
A Rose Bay dream home that took six years to build during Covid sold in July via Biller Property’s Paul Biller and Ben Torban. The five-bedroom “architectural masterpiece” designed by Studio Johnston at 1 Rawson Rd hit the market at the start of May. Company director David Pacanowski and his wife, Maxine, bought an old-style five-bedroom home on the 679 sqm block for $6,825,000 in late 2015 with the intention of rebuilding. The reno took six years. The home has five bedrooms and five-bathrooms, a lift, pool and four-car garage.
These amalgamated apartments sold in February.
15. 15A & $15B Dumaresq Rd, Rose Bay, $35m
The sale of two amalgamated apartments at 15a Dumaresq Rd, Rose Bay, for $35m by McGrath Paddington’s Luke Hogan and Frazer Watson stunned the locals in February.
Records show criminal lawyer Chris Watson and his wife Diane Barr-Watson bought one of the homes for $1.15m in 2003 and the other for $2m in 2012.
The amalgamated property apparently needs a complete overhaul, but its waterfront location and uninterrupted Bridge and Opera House views encouraged the buyers, introduced by Goldman Bros buyer’s agents.
44 Bower St, Manly sold in May.
16. 44 Bower St, Manly, circa $35m
In May, a newly built home at Fairy Bower with 180-degree panoramic ocean views smashed the Manly house price record by $10m in what’s the second-highest result ever on the northern beaches. The incredible Madeleine Blanchfield Architects-designed residence, owned by Justine Acret, wife of Chris Acret, the co-founder of mortgage broker Smartline, had a $35m guide when launched to the market two weeks earlier, and sources advise it’s achieved very close to that. The deal was negotiated Michael Clarke and Cherie Humel of Clarke & Humel.
1 Wentworth Rd, Vaucluse sold in September.
17. 1 Wentworth Rd, Vaucluse, $31,750,000
Billionaire coal baron Quentin Flannery and his wife, Kim bought the unrenovated home of mining industry owners Mei Peng and Zhian Zhang, the owner of the mining exploration firm Australia Hualong, in September, via Michael Pallier of Sotheby’s. The Flannerys sold their home at 3 Ginahgulla Rd, Bellevue Hill recently for circa $22m via TRG founder Gavin Rubinstein and Ray White Double Bay’s Ashley Bierman.
81 Fitzwilliam Rd, Vaucluse sold in April.
18. 81 Fitzwilliam Rd, Vaucluse, $30,388,000
The owners of Vaucluse’s famous “Rockpool” were given a big present at Easter in April — the waterfront home sold. The result was a decent price, more than $5m above the $25,275,000 that Marissa Campion, daughter of the late property developer Bob Rose, and her husband, hotelier Graham Campion, paid just two years ago.
But Michael Pallier of Sotheby’s, who sold it in conjunction with Luke Hogan of McGrath, points out the home had an extensive internal reno. The other thing that made it special was its pool in the rocks below, created when a visitor, who’d worked in the Lithgow mines, arrived with a stick of gelignite in the 1950s.
The buyers were the Wan family, introduced by Sean Huang and Leon Xing, of Concierge East buyer’s agency.
7 Collins Ave, Rose Bay, sold in April.
19. 7 Collins Ave, Rose bay, $30m
A crumbling Rose Bay beachfront sold in April for this huge price, despite the owner doing little to it since buying it for $147,000 more than half a century ago. The five-bedroom house on a 676 sqm block sold via Michael Pallier of Sotheby’s. Beverley Freedman had bought the house with her late husband, pharmacist Leo Freedman. She’s moved to a $14.5m duplex on the beachfront nearby, bought from businessman Robert Champion De Crespigny. The buyer is aged care provider Jonathon Kontopos.
46 The Grove, Mosman sold in March.
20. 46 The Grove, Mosman, $30m
ZRL Capital director Enquan Zheng paid cash for the designer home of former pet food company boss David Grant and his wife, Lerida via Michael Coombs and Bo Zhang of Atlas in March. The six-bedroom “architectural masterpiece” had a pool and “million-dollar” harbour views. It had previously traded for $11m in 2018.
