The end of the financial year has brought renewed momentum and record sales to the luxury property market around Australia.
According to the NAB Luxury Property review, the June quarter saw increased confidence and activity in the market.
During the 2025 financial year, there were new record prices in Sydney and Melbourne for existing dwellings and still-to-be-built penthouse apartments being set, with buyers being influenced by macroeconomic performances and financial markets rather than the broader market’s focus on credit settings and interest rates.
The majority of purchasers in this market are entrepreneurs and buyers in their 40s and 50s. However, there have been more millennials entering the space seeking innovative technologies and homes with sustainability and wellness-focused facilities.
Key amenities are reflecting these trends, with wellness facilities like gyms and saunas becoming a high priority. Sustainability has also become a priority with buyers favouring homes with energy-efficient design and climate-appropriate features.
Sydney has remained the premier luxury location in Australia, despite Melbourne making headway with a joint record-breaking sale in October 2024.
‘Elaine’ in Point Piper sold for $130 million, marking a national property record alongside a home in Melbourne that was initially reported to sell for the same price.
The Coonac estate in Toorak was sold at the start of the calendar year and while it was initially reported to be sold for $130 million, it is now thought to fall short of this price.
Despite this, it is still a record breaker for Victoria, recording the highest sale price and the first residential deal to surpass the $100 million threshold.
South East Queensland is establishing itself as an emerging luxury region, particularly on the Gold Coast.
The largest sale on the Gold Coast sold for $18 million on Marseille Court, Sorrento after spending two years on and off the market.
