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Point Piper Suburb Profile
The suburb of Point Piper sits on Sydney Harbour, beside the suburbs of Rose Bay, Bellevue Hill and Double Bay and is regarded as Australia’s most expensive suburb. If we analyse from the mid 70’s, Vaucluse was Sydney’s number one suburb by price, with Point Piper featuring sporadically with landmark sales such as ‘Paradis – Sur – Mer’ in the late 90’s and ‘Altona’ which has changed hands a number of times over the last 40 years. However, the last 10 years has definitely brought Point Piper into prominence at the very top end. There are now six Point Piper properties that feature in Australia’s top 10 sales of all time, so it’s clearly one of the most prestigious suburbs in the country.
The first landmark purchase by Asian interests in the last decade was by Mei Jiong from Packer confidant Ben Tilley of ‘Craig-y-Mor’ for the then Australian record of $32.4M which was an astonishing figure for an inland property, although it does face directly to the Bridge. Since then we have seen significant sales with the very top end examples being 550 New South Head Rd for $71M, ‘Altona’ sold twice for $52M and $61.8M, 63 Wolseley Rd sold twice for $39.9M, ‘Mandalay’ for $3.9M, 98-100 Wolseley Road for $44M, 9 Wolseley Crescent for $33M, and 29A Wentworth Street for $16.1M.
The top 5 Suburb sales are as follows:
550-550A New South Head Road, Point Piper
Sale Price $71,000,000
3 Wingadal Place, Point Piper
Sale Price $60,660,000
98-100 Wolseley Road, Point Piper
Sale Price $44,000,000
16 Longworth Avenue, Point Piper
Sale Price $39,900,000
1 Wentworth Place, Point Piper
Sale Price $39,000,000