Trophy home sales surge as the rich seek sanctuary
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Australia’s high-end property markets are awash with money and buyers looking for homes that have everything, no matter the cost.
Sydney and Melbourne lead the way with prices reaching $40 million in Point Piper while Toorak has already had five $20 million-plus sales this year compared with just two in the previous three years.
The view from Horizon, a mansion at Flinders, Victoria, which recently sold for almost $25 million.
Big money is also finding an ultra-expensive home in sought-after regional destinations such as Byron Bay, Noosa, Palm Beach, Southern Highlands and Mornington Peninsula.