Inside the Aussie homes that smashed price records in 2024

Record amounts of money were spent on homes in parts of the nation throughout 2024, despite interest rate hikes strangling borrowing power and dwindling household savings.

Analysis of home sales in the past 12 months reveals multiple properties sold for more than double the previous record prices in their suburb — a trend likely to continue in 2025.

Many of the previous records had been set in 2020 and 2021 when interest rates were at all-time lows and families had a glut of savings to put toward deposits after being shuttered indoors during lockdowns.

A SNAPSHOT OF RECORD SALES IN 2024:

NEW SOUTH WALES:

This house at 95 Fairfield Street in the southwest suburb of Yennora changed hands for $3.55m.

YENNORA – Among the properties to smash records in Sydney this year was a house on 4700 sqm at 95 Fairfield Street in the southwest suburb of Yennora, which changed hands for $3.55m — more than double the previous suburb record of $1.68m.

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MARRICKVILLE – Marrickville secured a record $6m sale with ‘Roma’ — a four-bedroom, five-bathroom 1894 property at 148 Livingstone Rd. The single-storey house on a 827sq m block was listed in July with a modest $4.3m guide. The previous suburb record was set in February by the ‘Coiled House’ on Neville St, which fetched $4.9m.

Marrickville secured a record $6m price following the sale of Roma on Livingstone Road.

GREENHILLS BEACH – In the Sutherland Shire suburb of Greenhills Beach, near Cronulla, a designer home at 66 Shorebird Parade sold for $15.7m, smashing the previous $9.8m record set in 2021.

This property at 66 Shorebird Parade, Greenhills Beach, sold for $15.7m, a new suburb record.

QUEENSLAND:

GUMDALE – In Queensland, a five-bedroom house on more than 10,000 sqm at 305 Formosa Rd, Gumdale, fetched $6.512m just months after the previous record was set at $5.55m in April.

This property at 305 Formosa Road, Gumdale, sold for a record suburb price through Tyson Clark of Queensland Sotheby’s International Realty.

COOROY MOUNTAIN – A luxury mansion sold for $11m this year after four years on the market. The sale of the five-bedroom home at 430 Cooroy Mountain Road, known as ‘Stonelea’, eclipses the previous suburb record set in September 2023, when a property at 146 Solar Road sold for $10m.

Stonelea, 430 Cooroy Mountain Rd, Cooroy Mountain.

MOUNT MARROW – The $1.2m sale of 203-211 Thagoona Haigslea Road set a new benchmark for the rural suburb of Mount Marrow in the Ipswich region. The four-bedroom family home and its 3.46ha block sold for almost twice as much as the suburb’s previous record of $635,000.

Record breaker: 203-211 Thagoona Haigslea Road, Mount Marrow, Qld, sold for $1,200,000 on May 1, 2024.

VICTORIA:

PORTSEA: A sprawling Portsea estate at 3808 Point Nepean Rd centred on an old bluestone cottage built in the early 1960s changed hands for an eyewatering $23.23m in 2024, breaking the wealthy coastal hamlet’s previous record by $3.4m.

This property at 3808 Point Nepean Rd, Portsea, sold for a suburb record in 2024.

ELWOOD – A five-bedroom home at 9 Bendigo Avenue overtook the suburb’s previous sale price record of $14.2m when it sold in February for a whopping $17.05m.

This property at 9 Bendigo Avenue, Elwood, sold for a record price in 2024. Picture: Supplied.

SUNSHINE NORTH – An opulent mansion in the heart of Sunshine North overtook the previous suburb record sale by nearly $200,000. The palatial five-bedroom palace at 63 Suffolk Rd sold for $1.835m in February. Just down the road, the previous record had been held by a five-bedroom residence at 147 Suffolk Rd.

This property at 63 Suffolk Rd, Sunshine North, sold for a new suburb record in 2024.

SOUTH AUSTRALIA:

GOLDEN GROVE: A Hollywood-style mansion has set a new price record for Golden Grove, blowing the previous benchmark away by $890,000. The six-bedroom, five-bathroom home at 4 Everglade Court sold for $2.8m just last month, breaking the previous record held by a five-bedroom home on Seaview Rd.

Supplied Real Estate 4 Everglade Court, Golden Grove

This property at 4 Everglade Court, Golden Grove, set a new suburb record in 2024.

CHAIN OF PONDS – A four-bedroom homestead at 197 Tippett Road in Chain Of Ponds sold for $1.15m earlier this year — more than doubling the previous suburb record of $510,000.

This four-bedroom homestead at 197 Tippett Road in Chain Of Ponds sold for $1.15m in 2024.

SOUTH BRIGHTON – Adelaide’s South Brighton — about 15km from the CBD — also set a new record. The four-bedroom home at 181 Esplanade traded hands for $6.375m in April, up from the prior suburb record of $3.709m.