Melbourne’s multimillionaire mansion buyers had their pick of homes for sale in 2024, as long as they had deep pockets. The top sale of the year reached close to $70 million for a stunning contemporary Toorak residence, but by the year’s end, several high-end listings remained available and looking for the right buyer. The contemporary Toorak home sold for close to $70 million.
Credit: Forbes And Melbourne is still waiting to see who will break the $100 million barrier, as the Myer family’s historic home Cranlana continues to seek the best custodian to take it into its next chapter. But for the most sought-after homes there was scant time to waste, and some were whisked off the market in as little as a week. Top-end buyer’s agent David Morrell, of Morrell and Koren, described the year as a tale of two halves.
“Those [sellers] that went to the market in February, March, looked like heroes, and those that went to the market late in the year have got doughnuts,” he said. “It’s not to do with interest rates at the top end – there’s global uncertainty, general instability. “I’ve never seen the gap so wide between what a vendor will accept and what a buyer will pay, and I think that gap is getting wider.
” He is making offers, but not willing to overpay. Buyers were mindful of vacancy taxes and the state government’s land tax on secondary properties, he said. The agent who handled the highest deal of the year was Mike Gibson at Forbes Global Properties, a.