In only five sales last year, $240 million worth of Australia’s mansions changed hands. That’s nearly a quarter of a billion dollars tied up in five houses; albeit five of the most fabulous piles the country has to offer.
All those homes were in a pocket handkerchief of Sydney’s affluent eastern suburbs — Vaucluse, Point Piper and Double Bay, with the list topped by the $70 million sale of James Packer’s ultra-mansion, La Mer.
It was only in 2002 that a $20 million sale rated as Australia’s most expensive, when Boomerang at nearby Elizabeth Bay sold. (View original article)