Darling Point has Sydney’s most expensive waterfront property.
Darling Point is followed by Bellevue Hill ($5.72 million), Vaucluse ($5.39 million), Double Bay ($4.76 million) and Woolwich ($4.2 million).
Rounding out the top 10 are Mosman ($4.1 million), Toorak, Rose Bay ($3.9 million) and Dover Heights ($3.7 million).
The Merlo house at 8 Ottawa Road, Toorak, Melbourne, sold for $25 million.
In September last year, an Australian buyer paid $95 million for a breathtaking waterfront mansion in Point Piper, the second-highest home sale on record.
Atlassian co-founder Mike Cannon-Brookes bought the nearby Fairwater mansion for $100 million in 2018. This is the most expensive home sale in Australia.
Meanwhile, Adelaide’s northern suburbs had the lowest median house price of the year. Elizabeth North had a median price of $176,386, followed by Elizabeth South ($188,116), Da Warren Park ($194,903) and Elizabeth Downs ($195,511).
Eliza Owen, head of Australia research at CoreLogic, said Australia’s $7.2 trillion residential property market was “remarkably resilient” despite COVID-19 causing the biggest economic downturn since the 1930s.
“The Best of 2020 report highlights the resilience of Australia’s luxury market, where the highest median house price is again in Darling Point, and Point Piper also has the highest median house price, similar to 2019,” she said. the same year,”.
“That’s not to say these communities haven’t been affected by the pandemic; in fact, the top end of the Sydney market is generally more vulnerable to changes in economic conditions.
“However, this volatility also tends to return quickly as mortgage rates lower and consumer confidence improves.”
Ms Owen said the rapid recovery in the luxury market was due to lower interest rates and improved consumer confidence.
She also predicts that the housing market will remain stable next year due to record-low mortgage rates, deferrals in mortgage repayments for households affected by COVID-19, support for low-income households and grants and concessions for own-use purchases.