Melbourne Mansion Smashes Australian Property Price Record at $150M

Australia’s real estate record has just been blown out of the water, with a historic Melbourne mansion quietly selling for around $150 million—the highest-ever price paid for a home in the country.

A Record-Breaking Sale in Toorak

The property in question? The stunning Coonac estate, a grand Italianate mansion in Toorak, one of Melbourne’s most prestigious suburbs. The sale price is a whopping $20 million higher than the previous record, which was set by two Sydney mansions—Elaine and Uig Lodge—both selling for $130 million.

Originally built in 1867, this 20-room estate has everything you’d expect from a home with a nine-figure price tag:

• Expansive gardens 

• Tennis court 

• Swimming pool & cabana 

• A rich history dating back to Victoria’s early days

Who Sold It?

The home belonged to billionaire Paul Little (a major property developer) and his wife Jane Hansen, who also happens to be the Chancellor of the University of Melbourne. The couple originally bought Coonac in 2002 for just $14.5 million and have since given it a major facelift.

The Mansion’s Rich History

Coonac was originally built for Robert Bruce Ronald, a well-known Victorian businessman and pastoralist. Over the years, it has remained one of Toorak’s most prestigious addresses.

While the buyer remains a mystery, one thing is clear—luxury real estate in Australia has reached a whole new level.