A dream beach house on the coveted Byron Bay coast – which shares a property line with the Hemsworths – has set the August house price record in a $36 million deal.

The Broken Head home is one of five New South Wales residences to take out the national top five last month.

Aside from the glamorous coastal retreat in the state’s far north, Sydney unsurprisingly swept the floor with the next four most expensive sales recorded on realestate.com.au last month – all priced above $20 million.  

Jump ahead to see the most expensive homes to sell in August:

• National top five
• Victoria
• Queensland
• South Australia
• Western Australia
• Tasmania
• Northern Territory
• ACT

1. Broken Head oceanfront retreat with famous neighbours

Ohana House, a seven-bedroom beachside oasis at 433 Seven Mile Beach Rd, Broken Head took home the top price gong, selling for $36 million on August 11.

Commissioned in 2014, the 9ha estate features a beach house designed by the renowned architect, Virginia Kerridge, with interiors by Iain Halliday.

The retreat was inspired by Richard Neutra’s celebrated Kaufmann Desert House in Palm Springs, and is surrounded by National Park, Seven Mile Beach, and one of the Byron Bay region properties held by the Hemsworths.

In addition to the contemporary house, the property has an off-form concrete pool, a floodlit tennis court with entertainment pavilion, a covered outdoor gym, yoga or meditation space, garden sculptures, and a separate caretaker’s cottage.

The recently inked deal was marketed through Cullen Royle’s Deborah Cullen and Richard Royle.

“Ohana House is one of Australia’s best and most iconic coastal homes and the interest reflected that. Purposefully designed for our vendors by Virginia Kerridge, it was designed to host a few guests or many. There are not many homes that sleep 28!” Ms Cullen said. 

The Sydney-based vendors were the former chairman of deep-water oil-drilling business Benthic Geotech, Russell Staley, and his wife, Jennifer.

“We were thrilled to show through some very high-profile families, both Australian and from overseas, to inspect this very private and luxurious compound. The best home in Byron Bay achieved the record sale price of the region and it very much deserved it!”

Some reports had revealed that pro-golfer Greg Norman was among the potential buyers, but not the eventual purchaser, rumoured to be an expat.

2. Tightly-held harbour home

It last traded for $275,000 in 1976, but the waterfront family home at 2 Cove St, Watsons Bay sold on August 23 for an eye-watering $28.4 million through PPD principal Alexander Phillips after only one week on the market.

The new owners of the 1970s pad are reportedly bespoke tailor Patrick Johnson and interior designer Tamsin Johnson, who plan to renovate the five-bedroom house. The vendor is an 80-year-old downsizer who called the extraordinary address home for close to half a century.

On a 800sqm block with 24m frontage to Cove St, the property takes centre stage with an absolute waterfront position fronting Watsons Bay and has views over the harbour to the city, a private jetty and a rare tidal beach. 

The house is close to Watsons Bay’s popular restaurants and the 20-minute ferry to Circular Quay.

3. Former Lendlease boss sells designer Eastern Suburbs manor 

A contemporary Bellevue Hill house crafted by BKH Architects was the third priciest home to trade last month.

Sold on August 27 by Ben Collier of The Agency, 33 Streatfield Rd fetched $24.5 million within two weeks of listing with a $25 million guide.

Owned by Melissa and Matthew Banks, a trained architect and property industry executive who previously held top jobs in both Lendlease and Macquarie Group, the Bellevue Hill property last changed hands – prior to the current home’s construction – back in 2001, when the pair bought an original cottage for $2.37 million.

Mr Collier said the modern build on 980sqm would likely be difficult to replicate.

“With the cost of construction today, I think people wouldn’t do it, you probably couldn’t even get the house through council today,” he said.

The house features a gallery style reception area, a stainless steel and marble kitchen and a spacious living and dining room that spills out to a wraparound terrace. 

Added extras of the trophy home include a palatial main suite with dressing room and bath ensuite, a grand rumpus room with kitchen, a barbecue patio, a level lawn and 12.5m pool.

4. Fashion industry couple trade in Mosman home

Surfection founders Chris and Amanda Athas, who started their now national surfing store chain in 1985 with a single shopfront in Mosman, have sold their long-time family home.

Last month, the fourth most-expensive Australian home sold for $23 million on August 11 with Michael Coombs and Tia Naris of Atlas Lower North Shore.

The dynamic retail duo bought the property at 1B Hopetoun Ave in 2001 for $3.965 million, then later engaged Burton Katon Halliday to create a modern Mosman entertainer. 

The north-facing four-storey residence on what locals call Mosman’s ‘Golden Mile’ is only 250m from Chinamans Beach, has an enviable outlook over Middle Harbour, multiple indoor and outdoor living areas, a deep terrace, a Gaggenau and Miele kitchen, an 800-bottle humidified wine cellar, mature landscaping, a wet-edge infinity pool, plus a pool house. 

5. Period property with potential

Another Bellevue Hill address made the country’s top five deals for August, selling on the 13th for just over $21 million at a private auction night.

The 1930s five-bedroom home at 41 Drumalbyn Rd, also known as Fernlee, had hit the market with Steven Zoellner of Laing+Simmons Double Bay with a $13 million to $14.3 million guide.

There were 19 registered bidders vying for the deceased estate, with some keen parties making single bids in increments of $500,000.

Ripe for renovation, the property last exchanged in 1990 for $2.3 million, according to title records.

On a 930sqm block with 180-degree harbour views, Fernlee has 412sqm of internal living space with original interiors featuring high ceilings, polished parquet floors, timber joinery, elegant arches, sandstone columns, terraced gardens and an almost 20m street frontage within minutes of sought-after private schools. 

Victoria

The top transaction in Victoria last month was a heritage home at 1-3 Sackville St in Kew.

Sold on August 8, the Melbourne mansion with a heritage facade and a surprising skate ramp out the back was listed in May with a $10.5 million to $11.5 million price guide. The eventual sale price remains undisclosed.

An Italianate manor, the house was designed in the late 1800s by prominent architect John Beswicke, whose work shaped Melbourne’s early suburban character. Beswicke was responsible for more than 300 buildings across Victoria, including the Hawthorn, Brighton and Essendon town halls built in the boom era of the 1880s.

Sitting on a vast 2484sqm block, the property has been partially restored and renovated using plans designed by Peter Barton.

Across three levels, the house has period detailing throughout, including arched verandas, high ornate ceilings, and a stained glass window illuminating the central staircase. 

Outdoors, the property features a courtyard overlooking the pool and gardens, with provision for a tennis court.

Queensland

In the millionaire’s playground of Noosa Heads, a modern trophy asset at 11 Little Cove Rd sold for $13.25 million on August 6, cementing it as Queensland’s priciest deal of the month.

A collaborative effort of Damien Davidson Builders and architect Chris Clout, the contemporary hideaway is framed by Noosa National Park, and is a short walk to Hastings St.

“The concept of an elevated and openly engaged residence in harmony with its surrounds was integral to the brief,” said agent Tom Offermann in his description of the four-bedroom residence.

“It also aligns perfectly with the idyllic sub-tropical climate, in a form designed to open and close as needed to allow for free flow ventilation,” added co-agent, Nic Hunter.

It features polished rendered walls, travertine and American oak floors, a freeform stone fireplace and double-height glass walls. There is also a covered terrace with outdoor kitchen and a pool. 

South Australia

Sold on August 4 by Toop and Toop agents Sally Cameron and Makeeley Abraham, 34 Cudmore Ave in Adelaide’s Toorak Gardens ranked as the top sale in South Australia.

Although the agent was unavailable for comment regarding the sale price, the affluent suburb has undergone a 26% price jump over the past 12 month according to PropTrack data, placing the house median at $2.488 million. Only seven houses sold in Toorak Gardens in August.

The four-bedroom, three-bathroom, home on 1508sqm has modern updates, a classic facade, European-inspired gardens, a full-sized tennis court, a pool and two-car garage.

Western Australia

Coming in as the highest price paid in Western Australia last month, 24 Saunders St, Mosman Park sold on August 19 for $22.75 million via Justin Davis and Kylie Mann of Space Real Estate Cottesloe.

The grand four-bedroom house has a long list of modern must-haves, located on a north-facing orientation 1313sqm block with panoramic river and city views.

It features two kitchens equipped with Gaggenau and Sub-Zero appliances, a 600-bottle climate-controlled wine cellar, a solar-heated magnesium pool, steam room, Sonos sound system, mood lighting, a 13-person private elevator, a security system, number plate recognition cameras, a five-car garage, an EV charger, and security gates. 

Tasmania

On the Apple Isle, a vineyard estate in the Relbia wine region near Launceston sold for an undisclosed amount in August, but was seeking “offers over $3.75 million” prior to selling on August 22 with Kristi Seymour of Insitu Property.

On Glenwood Rd, the 7.97ha estate stakes its claim as the oldest vineyard in the region and has direct access to the North Esk River.

Known locally as Glenbothy Estate, the property also features a near new five-bedroom, five-bathroom home designed by Cumulus Studio that incorporates the original cellar door.

There is a detached games room or studio, paved terraces with a wood-fired soaking, and the grounds still boast around 5.5ha under vines, making a beautiful and profitable backdrop. 

Northern Territory

Selling for $2 million on August 20, 14 Minahan Rd in the Top End town of Ross was the standout deal last month by Drew Hendricks of Alice Springs Realty.

Sitting on 8.09ha against the backdrop of the East MacDonnell Ranges, the estate and its modern outback mansion are approximately 15 minutes from Alice Springs.

Completed in 2022 at a build and land cost of $2.85 million, according to the agents, the contemporary home was built with sustainability in mind.

The main house has four bedrooms and four bathrooms featuring Italian tiles and marble basins, while the separate studio has a kitchenette and an ensuite. On the property, there is also a covered and heated magnesium pool.

ACT

An Arkitex-designed residence in Griffith was the biggest transaction the capital last month, however no final sale price is confirmed for the four-bedroom single-level modern home marketed through Hive Property’s Michael Morris. 

According to PropTrack data, the 12-month median four-bedroom house price in Griffith was $2.25 million.

Sold on August 12, the north-facing house at 9 Hartog St, Griffith has clear view lines to Black Mountain Tower and is within walking distance of Canberra Grammar.  

With interior design by JMD, the spacious home features 337sq m of internal living on a 851sq m corner block. There is customised indoor and outdoor joinery, bespoke stone bench tops, feature strip lighting, a Smeg kitchen with a butler’s pantry, plus a pergola with a remote-controlled louvre system, luxury outdoor kitchen and barbecue as well as a heated saltwater pool.

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Sydney is officially operating over capacity.

Inadequate housing supply, transport facilities and clogged infrastructure mean one of the nation’s most popular destinations is overpopulated, a new study has revealed.

Research from Monash University and their Institute of Transport Studies has revealed the optimal number of residents an Australian city must maintain for peak sustainability and liveability.

It revealed the ideal capacity where housing, jobs, transport and services are balanced to fit the number of residents, with Sydney deemed to have more residents than its infrastructure and amenities could support.

The Monash analysis figures showed Sydney was the seventh most overcrowded city in the country and was operating with just under 5 per cent more people than it should.

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With the city home to around 5 million people, according to the Australian Bureau of Statistics, the findings would suggest Sydney has about 250,000 more residents than the optimal number.

The Gold Coast was deemed the most overcrowded, with the population 12 per cent above capacity. The Central Coast, Murray Bridge, Newcastle, Sunshine Coast and Melbourne also had more residents than the optimal number.

Cities like Perth and, in South Australia, Port Pirie were found to be operating close to their ideal size.

The study determined the “magic number” for a city’s size by using four measures of growth and function: capital city status, access to jobs, the mix of services and how well it’s connected.

Cities with population over capacity tended to have higher costs and infrastructure strain, as seen in Sydney.

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Lead study author, associate professor Liton Kamruzzaman, revealed solutions around transport, job locations and fair land-use rules could help cities evenly distribute to find “the Goldilocks rule”: capacity at the “just right” size.

“When a city grows too big, the signs are clear; longer commutes, traffic jams, soaring rents, and overcrowded services,” Mr Kamruzzaman said.

“But when it’s too small, valuable infrastructure and opportunities go to waste.

“Using this research as a benchmark new cities could be designed with a population range that avoids the pitfalls of over- or under-capacity, while existing ones can be recalibrated through policy levers like transport links or decentralised jobs.”

He stressed the size of the city alone did not determine if it its infrastructure was stressed.

“This study shows it’s not about being large or small,” he said. “It’s about whether a city’s population matches what its systems can handle. That’s the key to sustainability.”

Sydney is already feeling the effects, with Aussies concerned the governments housing targets won’t be met.

The National Cabinet expects Australia to build 1.2 million new homes by 2029, but building approvals are slowing, falling by 8.2 per cent in July 2025, the ABS revealed. Only 188,727 new dwellings were built nationally in the year to July 2025.

Master Builders chief economist Shane Garreete said construction progress has been too slow and the circa 188,000 homes built over the year to July was not enough.

“We’re likely to have suffered a 60,000-home shortfall during the Housing Accord’s first year so we need to average 255,000 homes annually over the remaining four years of the Accord,” he said.

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Ante and Helen Boras started preparing their Port Melbourne home to get the best price possible from a spring sale when they brought in an architect.

The family worked with the professional to design plans to expand the property into a three-bedroom, two-bathroom home, giving buyers a clear vision for future growth.

But they’ve still spent the past few months styling the home to ensure it’s at the top of buyers’ shopping lists, and enlisting kids Vivienne and Leonard to keep it looking its best.
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The kitchen, which they have updated over time, became the focal point.

“We updated it and it became the heart of the house,” Mrs Boras said.

The family’s favourite space, the open-plan living area which flows from the kitchen island bench through to the lounge and out to the courtyard, has also been restyled.

“It’s generous, open, and everything connects,” Mr Boras said.
“It’s where we always congregate as a family.”

The other big factor they think will win over buyers is the bayside location, which lured them to relocate from Geelong when they grew tired of commuting for work.

“We’ll always love Geelong, it’s where our roots are,” Mr Boras said.

“But this area suits us perfectly, the beaches, the schools, the hustle and bustle, the community.
“Even during Covid, when we couldn’t see family in Geelong, this community became like a new family for us.”

They’re selling the home as they prepare to upsize and get more space for their growing family.

Their advice to other families considering a move to South Melbourne was to immerse themselves in the area.

“Spend some time renting first, get a feel for the neighbourhood,” Mr Boras said.
“And connect with a good local agent makes the process smooth.
“Honestly, the lifestyle speaks for itself.”

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The Block 2024 winners Maddy and Charlotte Harry are looking to flip their recently completed New Lambton project. The sisters believe they can reap a $1.2m to $1.32m sale outcome on the project they began in May.

The three-bedroom, one-bathroom weatherboard home is the fourth renovation they have undertaken in the Newcastle region.

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Set on 399sq m, the house was bought at a March auction for $809,000 when it was offered for the first time in four decades. It was bought in Charlotte’s name.

The project was budgeted to cost $216,000, with their original goal price being set as $1.18m – marking a $155,000 gross profit.

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“No TV-sized budget, no huge production,” the duo advised when announcing the project on YouTube.

“Just us, working with a mid-range budget and showing what’s achievable for everyday Aussies.”

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They originally planned a 13-week challenge for the residence, hoping to be ready for market by the end of July.

However, its progress was slowed, in part, by a holiday to Europe.

Unlike the Channel 9 show, the duo have attracted significantly fewer viewers with their weekly postings.

They have between 2000 to 8000 views per video on their YouTube channel.

Their minor changes to the floor plan included swapping the living room and bedroom.

The pair were aged 22 and 24 when they won The Block series, with take-home prize windfall from their house renovation on Victoria’s Phillip Island being $1.65m.

Their first house project at Wallsend, on the outskirts of Newcastle in 2020, cost $510,000.

It was in Maddy’s name after she saved for a deposit – while a student at Brigidine College St Ives – by babysitting, tutoring and working shifts at McDonald’s.

The post The Block 2024 winners Maddy and Charlotte Harry chase $1.3m house flip bonanza appeared first on realestate.com.au.

A chunk of money to help buy a house is the financial gift of a lifetime. But a growing number of parents accept that they won’t ever be paid back.

The bank of mum and dad might be one of the biggest mortgage lenders in the country, but they are increasingly giving up hope of ever being paid back. 

The term, used to describe the financial support provided by parents to their adult children, especially when it comes to helping them buy their first home, can take various forms.

From private loans, monetary gifts, co-ownership arrangements or parent guarantor loans, the bank of mum and dad is a blessing for those able to afford to help their children into the property market. 

Parental support

The bank of mum and dad is responsible for approximately $35 billion annual in property purchases in Australia, according to recent data from Digital Finance Analytics. This is an eye-watering figure that shows just how tough it is for first home buyers to get into the property market. 

While the money used to be offered as a loan to help their kids get into the property market is now increasingly being handed over in a lump sum given without the expectation of the money being paid. 

First home buyers usually opt to live at home with their parents, curb their spending on eating out and take on a second job to bolster the size of their deposit.

But without a little help from their parents, getting into the property market given that the median price for a home in Australia is $790,000 is nearly impossible on an average salary these days.

Mortgage brokers report that parents are providing bigger pots of money for a deposit in a clear sign that many parents view home ownership as so unattainable that the only way to get their children into the property market is to provide a financial gift to make it happen. 

Pot of money 

Perth-based Mortgage Choice broker Shannon Hassett notes a huge uptick in the number of parents providing generational wealth to their adult children over the last 12 months as house prices continue to grow. 

“We often work with parents with teenage kids in high school who want to learn how to help their kids by buying an investment property now to be able to hand over to their kids later,” Hassett says.

“We’re definitely seeing early inheritances coming from wealthy from parents for their kids to purchase their first home as well. We’re seeing parents gift growing amounts, anything from $50,000 to $1 million dollars being given to their kids to get into the property market,” Hassett says.  

In one recent case, she recalls an adult child being gifted $2 million for a deposit on their first house. 

Earn interest 

Hassett advises first home buyers receiving a financial gift from their parents to make sure they keep the money in a bank account that’s earning interest while they search for the right property to purchase. Any interest above 4.5% is a good rate in the current market, which will allow the money to grow over time thanks to the wonders of compound interest.

“Some lenders will require buyers to hold the funds in their own name for a three-month period for it to be considered genuine savings, while other lenders allow them to use the money straight away,” she says.

Highfield Private group director Steven Tropoulos often works with younger clients receiving financial help from their parents, whether through lump sums drawn from superannuation or savings, or by accessing equity from the family home. 

He says: “In some cases, parents are structuring their financial contribution to secure a share in the property, with the understanding that they’ll be repaid down the line when their children’s financial position improves.

This approach can provide a balance, allowing parents to assist while also safeguarding their own retirement plans.” 

Word of warning 

While parents might have the best intentions to help their kids, before lending money to family, it’s important to seek out some legal advice. 

Providing a lump sum payment for a property or acting as guarantor can derail a parents’ own retirement plans, so it’s important to get the agreement clearly mapped out on paper after speaking with a lawyer and also potentially a financial adviser. 

Tropoulos warns parents not to financially overextend themselves when helping their children into the property market.

“While the intention is always to support, it’s vital that parents first assess what a comfortable lifestyle and retirement look like for them. From there, they can determine what level of financial support is realistic and sustainable, ensuring they don’t compromise their own future wellbeing in the process,” he says. 

“Stretching their finances too far can undermine their long-term security and, in some cases, result in a situation where the children end up needing to support their parents in the future.”

This article first appeared on Mortgage Choice and has been republished with permission.

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