Price of 'fairytale' French mansion lays bare Sydney housing nightmare

Sydney properties are selling for millions of dollars and you can pick up mega-mansions in France for the same price. (Source: Ray White/James Edition)

It's no secret Sydney's housing market is a rough ride for anyone trying to get onto the property ladder. The harbour-side city was among three other Australian capital cities that hit record property prices again in the latest Domain's report released Thursday.

Recent research even revealed the picturesque city is set to remain unaffordable until at least 2031. But it's even more depressing when you realise how far your dollar can go in France.

A 19th-century chateau that comes with a casual 74,200 square metres and 12 rooms (including six bedrooms) just three and a half hours from Paris recently sold for AUD$1.14 million.

Compare that to a 57 square metre one-bedroom no-parking terrace in Sydney's Surry Hills that recently sold for $1.29 million. And that price is with the pleasure of using an outside toilet.

This Surry Hills property recently sold for nearly $1.3 million while this 19th-century French chateau can be bought for a little less. (Source: LJ Hooker/Le Nail)

LJ Hooker agent Aaron Del Monte was in charge of that property and told Yahoo Finance that the market is showing no sign of slowing down, despite the average house price jumping 1.3 per cent to $1.66 million.

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"There's a genuine appetite... We're getting buyers like first-time buyers, we're getting downsizes, we're getting people from regional markets who want to just get a bit of a city hold where they can Airbnb it, stay in it when they're in town," he said.

But this isn't the only comparison worth looking at between Sydney and France.

Chateau in France vs humble home in Sydney

A 17th-century chateau surrounded by moats that comes with 20 rooms and is less than an hour away from Paris is up for sale for AUD$3.62 million.

That's no small price to pay, but it looks and sounds heavenly.

This French chateau can be yours for the low, low price of $3.62 million and it comes with its own moat and Saltburn-style interior. (Source: James Edition)

"Behind the first entrance gate, the driveway leads to a stone bridge, which spans the moats filled with water," the listing states.

"At the end of it, the main gate surmounted with a coat of arms and wrought-iron décor opens onto a cobbled courtyard, which is organised around a central circular lawn."

If you were desperate to live in Sydney and had a similar budget then you could have snapped up a three-bedroom house in Glebe for $3.7 million last month.

This property in Glebe recently set a buyer back $3.7 million (Source: BresicWhitney)

But it needs a lot of work at the back. (Source: BresicWhitney)

But it's not exactly a turnkey home.

Dubbed a property with "future potential", the freestanding cottage apparently offered "endless options for revamp" and sits just moments away from the harbour.

The backyard is a shambles and would require a lot of work before you'd want guests coming around for a BBQ.

The biggest kicker is a 15th-century "fairytale" chateau in the south of France that is up for sale for a punchy $4.32 million.

It comes with 20 bedrooms, 10 bathrooms, 2,340 square metres of land and a gorgeous pool where you could laze about all summer.

This French chateau comes with 20 rooms and a gorgeous pool and will only cost $4.32 million (Source: My French Home)

Compare that to a dated home in the ritzy suburb of Mosman that just sold for $5.01 million.

It has a fifth of the square meterage of the above French chateau, only three bedrooms, one bathroom, and requires a lot of work to bring it into this century.

"A blank canvas awaiting a designer transformation, capitalise on the elevated views with water glimpses and secure a slice of this peaceful Mosman community," the listing stated.

"Ready for its next step, the home retains much of its innate architectural charm."

But that sale comes in just a fraction below the suburb's average price, which sits at $5.67 million.

There's no denying this Mosman home needs a lot of work, but it recently sold for just over $5 million. (Source: Ray White)

Cost of average Aussie home hits another record high

The stark comparison comes as Domain revealed its latest House Price Report for the June quarter on Thursday.

Another record-high has been hit in Sydney, Brisbane, Adelaide and Perth for houses, and in Brisbane, Adelaide and Perth for units.

Sydney house prices rose by $21,000 (1.3 per cent) over the June quarter, reaching a record high of $1.66 million, while unit prices fell for the first time in one and a half years.

This is the sixth consecutive quarter that prices have risen, however, the pace of quarterly growth has more than halved. But there have been some locations that have seen huge drops in value.

Top 10 Sydney suburbs with the most improved affordability:

1. Sydney Olympic Park (Unit): $683,000 (-17.7 per cent change)

2. Petersham (Unit): $785,000 (-15.1 per cent)

3. Rose Bay (Unit): $1,512,500 (-14.8 per cent)

4. Forest Lodge (Unit): $931,000 (-13.2 per cent)

5. Rose Bay (House): $4,650,000 (-12.3 per cent)

6. Newport (Unit): $980,000 (-12.1 per cent)

7. St Marys (Unit): $510,000 (-12.1 per cent)

8. Wahroonga (Unit): $930,000 (-11.4 per cent)

9. Balmain (Unit): $1,205,000 (-10.9 per cent)

10. Alexandria (Unit): $799,000 (-9.2 per cent)

It's worth noting that, yes, it's easy to make comparisons with French chateaus and you could pick virtually anywhere on the planet and it could be cheaper and more grandiose than in Sydney, but it's a reflection of the tough conditions people in the city are facing just to buy a slice of the Aussie dream.

If you did want to buy these mega-properties in regional France, you would probably be confronted with huge bills to maintain everything, so that's another consideration to make before you pack your bags.

Domain also released a list of the Aussie suburbs that have boomed in the last quarter. =

Top 10 Sydney suburbs with the top price growth:

1. Burwood (House): $3,156,500 (35.8 per cent growth)

2. Kirribilli (Unit): $1,575,000 (34.3 per cent)

3. Glebe (House): $2,700,000 (33.2 per cent)

4. Fairlight (House): $3,657,500 (31.5 per cent)

5. Marsfield (House): $1,428,500 (30.3 per cent)

6. Rushcutters Bay (Unit): $840,000 (25.9 per cent)

7. Berala (House): $1,285,000 (24.2 per cent)

8. Centennial Park (Unit): $905,500 (24.0 per cent)

9. Bexley (House): $1,550,000 (24.0 per cent)

10. Lindfield (Unit): $1,270,000 (22.7 per cent)

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