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Australia's highest home price smashed: $140 million

Sydney Harbour Bridge as seen from the most expensive home in Australia. (Image: Lendlease)

The record for the most expensive residential real estate in Australia has been smashed with a $140 million sale of a two-storey Sydney penthouse.

The apartment is located at the top of the under-development One Sydney Harbour building in Barangaroo South. It sold off-the-plan to an Australian purchaser, according to Nine.

Yahoo Finance has contacted developer Lendlease for comment.

The penthouse was bundled with the sub-penthouse immediately below for the sale. The apartment has nine bedrooms, sweeping harbour views and the new owner will reportedly live in it.

The record for highest price for a home was previously held by the house Fairwater in the eastern suburbs of Sydney. Atlassian co-founder Mike Cannon-Brookes bought that property for $100 million last year.

Lendlease property executive Kylie Rampa told Nine that the sale was a historic moment for Australian real estate.

"The sale of the penthouse at One Sydney Harbour is a paradigm shift for the Australian property market with an apartment claiming the title of Australia's most valuable residential property for the first time, a title historically reserved for significant houses."

The lucky new resident of this penthouse will not miss having a backyard though, as the flat features its own rooftop swimming pool and gym.

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