The Australian property market recovery is in “full swing” but many are still priced out of buying a home. Half of all Australian adults are expected to buy a ticket in the Powerball for a chance to win the record-breaking $200 million prize, allowing them to break out of the cost-of-living crisis. With a peak expected today as people rush to get in before the draw closes today at 7.30pm AEST.
An expert told Yahoo Finance what you should and shouldn’t buy if you win, but the jackpot would give you the cash to buy one of Australia’s most prestigious homes. So, what’s on the market right now to snap up?
Here’s 6 properties many could only dream of buying.
Boasting 11 bedrooms and 6 bathrooms, you’re essentially buying a home set on a private island sprawling across 31 majestic hectares in the eastern end of the Gippsland Lakes.
There’s no car spaces but that’s because you’re more likely to need a helicopter (or a boat) to get there.
You’d have to take a big chunk out of your budget though as it’s guiding over $150 million.
This contemporary 5 bedroom, 6 bathroom, trophy comes in an exclusive suburb with commanding views of Sydney Harbour. You can look over the water from your dining room, bedroom, huge stone bathtub or the infinity pool.
You will need to part with a fat chunk of cash to land it, with a price guide of $70 million.
Still in Sydney, this “world-class” minimalist residence is propped right on top of a beach, and you still get views of the Sydney Harbour Bridge and the city skyline.
It’s got 4 bedrooms, 5 bathrooms and 3 car spaces, and is guiding $60 million to buy.
In one of Melbourne's most exclusive suburbs, this landmark historic home is nestled on Brighton’s ‘Golden Mile’ and has only had two owners in its 100-years.
The grand estate has rolling greens, a tennis court, housekeepers cottage and pool overlooking the bay. With as many car spaces as bedrooms and bathrooms combined, you can get a slice of “your own botanic paradise” for upward of $41 million.
Back in Sydney, Domain’s list continues. This multi-story home is “perfectly positioned” to give you views including of the Opera House, Harbour Bridge and skyline. The 4 bedroom, 6 bathroom house is 771 square metres, and while smaller than those listed above, it’s not a home many would turn their nose up to if offered. Particularly if you consider what the land is valued at alone. Price guide is $40 million.
If the east coast isn’t for you, you can snag a “masterpiece” in Perth. With 4 bedrooms and 5 bathrooms, it doesn’t skimp on the opulent extras you’d expect for a multi-million dollar purchase. It’s got the wine cellar, tennis court, infinity pool and river views, plus your neighbour is a golf course.
For the cheapest on the list, agents are guiding this 1,768 square metre parcel of prime land, for $32 million.
An expert told us to warn potential winners to be careful of how much you spend. Real estate agent John Melville, from Altas, said you can crack into the prestige market without eating away at too much of your capital.
There are still opportunities to buy luxury homes without spending $50 million,” Melville told Yahoo Finance.
“A Mosman mansion with views over Balmoral Beach sold for $8.5 million, while an architectural masterpiece in Castlecrag on over 5000 square metres and moments from the city sold for $13.1 million."
The Powerball draw is on Thursday night.