I currently live in Melbourne. From what I've read up in the newspapers, Point Piper 2027 is, without question, the MOST EXPENSIVE place to live in Australia. Waterfront estate price tags are shockingly astronomical. For comparison's sake, Melbourne's most expensive suburb is Toorak- the record currently held is $24 million. Two mansions sold last year, one was to a Melbourne businessman the other a Chinese buyer. Both were in the vicinity of $20 million.
I wrote this given that what you would need to pay for a mansion in Point Piper would need to be twice, let alone three times, as what one would pay for a similar mansion in Toorak. Consider this- good properties in Toorak with a swimming pool & tennis court would set one back $10 million+ the very best being $20-25 million. In Point Piper alone, a typical mansion would set one back $20 million. As for property with panoramic 360 views of the Sydney Harbour and waterfront- don't start me here. If you had to ask me, (I am not a qualified real estate agent, just someone who is interested in property hehe), well you cannot afford it unless one has got $40-50 million+.
Point PIper is home to Westfield billionaire Frank Lowy, Aussie Home Loans founder John Symond and Liberal Party powerbroker Malcolm Turnbull. It is also becoming popular with wealthy Chinese buyers. Last year, Altona sold for $53 million and another property entitled "Bang & Olufsen" sold for $33 million.
Streetwise- you simply cannot go past Wolseley Road. This 1km stretch of waterfront is just simply the ultimate address in Australia. To own a piece of luxury, one must be either a successful businessperson. The other option would be to play USA Megamillions/Powerball. I would suggest waiting until the advertised jackpot reaches $500-600 million+ (after federal/state taxes you'll be left with $200-250 million+; enough to buy a nice waterfront property within Australi's most prestigious suburb). Alternatively, play Euromillions, (jackpot needs to be 100 million+ euros approx. $147 million AUD- largest was 190 million euros or $280 million AUD).
And records are set to be smashed since the Fairfax family placed their waterfront estate entitled "Elaine" on the market. The final price tag?
An eye-opening, jaw dropping & mouth watering $100 million!
Hopefully as a Melbournian I've helped you with some information regarding what I consider to be Australia's ultimate residentail suburb!