National Don't miss out on the headlines from National. Followed categories will be added to My News. Not even a winning lottery ticket could pay for Australia’s $100m+ mansions — but younger, cashed-up buyers are dropping gaudy nine-figure sums on property.
Some of the country’s biggest residential sales have come from self-made technology moguls, cryptocurrency kings and entrepreneurs under the age of 45. And experts believe the interest from a younger generation is becoming the norm with these trophy homes. Prominent buyers advocate Matthew Cleverdon said a $100m residential sale was not the unicorn it once was.
However, he said the ongoing cost of running a house of this size that was significant. “Even if you won the lottery, often it’s the ongoing cost of running a house of this size that is underestimated,” he said. Black Diamondz Property Concierge director Monika Tu said many of the buyers with $100m ready to splash were much younger than in the past.
She added that lots of these top-end sales usually happened off the market as well. Here are some of the homes around Australia that have sold for, or may soon sell for the lofty $100m mark. VICTORIA Cranlana — Toorak, VIC The stunning Toorak manor is surrounded by landscaped gardens.
Famously owned by the prominent Myer family, ‘Cranlana’ estate was listed for sale at the end of September and could surpass $100m sale price. The lavish property at 62-62A Clendon Rd, Toorak has yet to be given a price g.
