close
close

From Toorak to Rowsley: Victoria’s most expensive house sales of the past financial year revealed

From Toorak to Rowsley: Victoria’s most expensive house sales of the past financial year revealed
From Toorak to Rowsley: Victoria’s most expensive house sales of the past financial year revealed

The family of politician Sir William Charles Angliss sold this Rowsley estate for $80 million, the highest house sale this financial year.


Victoria’s super-rich have ignored the cost of living crisis over the past 12 months, spending sky-high sums of $40 million to $80 million on homes across the state.

New tech entrepreneurs and crypto millionaires compete against super-rich internationals for some of the most illustrious addresses around, with amenities like the swimming pools and tennis courts you’d expect, as well as indoor basketball courts and speakeasy bars.

But from business magnates to billionaires, many of the sellers have seen their hopes of even bigger deals dashed as some of the city’s most expensive homes have sold for millions less than initially hoped – despite industry claims that the pricier properties remained “robust”.

RELATED: Jefferson Ford Founder’s Mansion Sets New Record

Justin Timberlake Sells $11 Million Home Amid Falling Popularity

Regions where a Melbourne home ‘pays for itself’

Whiskey baron and businessman David Prior let go of his five-bedroom home at 14 St Georges Rd in February for around $40 million, but it was initially listed with a price expectation of $46 million to $50 million.

And the Toorak mansion belonging to the family of the late billionaire and horse racing enthusiast David Hains also sold for around the same price, despite a price tag of $40 million to $45 million when the mansion was first put on the market.

The largest deal recorded in the financial year was the sale of an $80 million estate owned by the family of the late Sir William Angliss.

This opulent 148-year-old estate in Rowsley, near Bacchus Marsh, was owned by the family of leading businessman and politician Sir William Charles Angliss for 90 years. It was then sold for $80 million.


This mansion in St Georges Rd, Toorak, was sold in September 2023 by whisky baron David Prior.


Kay & Burton director Andrew Sahhar, who has sold several properties for more than $20 million in the past year, said Melbourne’s luxury residential market had maintained robust momentum over the past 12 months.

“Demand and prices have increased dramatically with both domestic and international buyers competing for premium properties, while there is a continued shortage of luxury homes,” Mr Sahhar said.

“New buyer demographics, particularly from the technology and crypto sectors, have injected new dynamism into the local market.”

He added that there is also a growing demand for house-sized apartments, reflecting a preference for a low-maintenance lifestyle.

This 10-bedroom mansion on Albany Rd. in Toorak was owned by the late billionaire David Hains.


It appears the wealthy Zagame family of Melbourne have quietly sold this Toorak mansion designed by celebrity chef Shannon Bennett.


Mr Sahhar said he was seeing a revival of generational estates changing hands in the Stonnington area.

“These historic homes were often foreclosed with multiple parties vying to become the next custodians, demonstrating the depth of interest in the $20 million-plus segment,” he said.

Marshall White chief executive Simon Jovanovic said there was strong interest from local buyers looking for family homes.

He said there has been a big change at the higher end of the market in recent years as buyers value prestigious Melbourne real estate.

“We regularly see transactions north of $20 million, $30 million (and) $40 million, which reflects the quality of the real estate we have to offer and also the depth of buyers in the market,” Mr Jovanovic said.

Frank Walker, founder of National Tiles, and his wife Rhonda sold this house on Clendon Rd, Toorak, after their daughter Amy Spargo restored the home.


The clifftop residence “Rovina” offers extensive views over Portsea’s Weeroona Bay and was designed by architect Geoffrey Sommers in the early 1960s.


Robert Fletcher, director of Forbes Global Properties, said that while the upper end of the market remained positive, there was a shortage of available land in Toorak to build new homes and larger houses with tennis courts.

Mr Fletcher added that Forbes’ European partners had also reported interactions with Australian buyers looking for properties in Greece, Cyprus, Italy, the UK and Portugal.

Sold just days before Christmas 2023, the palatial country house “La Verna” was built around 1888 on Sackville St, Kew.


This gigantic house on Ottawa Rd, Toorak, was built in the 1930s and has a garden designed by famous landscaper Jack Merlo.


Morrell and Koren buyer advocate Matthew Cleverdon said the top market remained a world where privacy was often as important as the sales price.

“As the world enters some challenging times, people are looking to return to the top end of town in Australia, while expats are returning in numbers,” Cleverdon said.

The family behind Bevilles Jewelery sold this house on Wherndside Ave, Toorak, in November.


This five-bedroom house in Hopeton Rd, Toorak, has a four-car garage, a swimming pool and a tennis court.


Liz Jensen, director of Kay & Burton Portsea, said she had seen an influx of buyers on the Mornington Peninsula who had recently made their fortunes and viewed and purchased the Sorrento and Portsea clifftop properties, which rarely changed hands.

Ms Jensen said the past six months had been “much livelier” than normal, with more generational homes listed following recent land tax increases, giving first-time buyers more choice.

Sam Hatzistamatis, senior vice-president of the Real Estate Institute of Victoria, said a number of “smaller homes” in the top 20 largest sales this year were also notable, with four- and five-bedroom homes overtaking the previously more popular six-bedroom townhouses.

TOP 20 RESIDENTIAL SALES FY24 IN VICTORIA

Rank. Address – Price

1. 565 Glenmore Road, Rowsley – $80 million

2. 14 St Georges Rd, Toorak – about $40 million

3. 35-39 Albany Road, Toorak – about $40 million

4. 43 Lansell Rd, Toorak – approximately $31 million

5. 50 Clendon Rd, Toorak – $23,351 million

6. 3808 Point Nepean Rd, Portsea – $23.23 million

7. 39 Sackville St, Kew – $22.5 million

8. 9 Ottawa Road, Toorak – $21.25 million

9. 11 Whernside Avenue, Toorak – $21 million+

10. 2 Hopetoun Rd, Toorak – approximately $21 million

11. 4445 Frankston-Flinders Rd, Flinders – $20.5 million

12. 17 Balmerino Ave, Toorak – $20 million

13. 35 Harcourt St, Hawthorn East – approximately $20 million

14. 111 Sackville St, Kew – $19.18 million

15. 9 St James Place, Toorak – $19 million

16. 25 Hopetoun Road, Toorak – $18.68 million

17. 22 Stonnington Place, Toorak – approximately $18.5 million

18. 37 Mary St, Hawthorn – $18.15 million+

19. 4 Bromley Court, Toorak – $18 million

20. 257 St Kilda St, Brighton – approximately $18 million

Sources: agencies, PropTrack, CoreLogic, industry sources


Sign up for the Herald Sun Weekly Real Estate Update. Click here to receive the latest news from the Victorian property market direct to your inbox.

MORE: Superwog boys take over Moonee Ponds mansion

What $5 Million Can Buy You in Elwood?

Catholic group makes mega-millions on Brighton waterfront

[email protected]