![\"Wes](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/03\/62260e856e5deacf47c16645e58a88f9513fb355be454aa2a0088a6dfde3d44d.png\")
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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n Want to live like a billionaire?<\/p>\n The Australian Financial Review\u2019s Rich List for 2026<\/a> recently revealed that 178 Australians are billionaires, with about a quarter of those on the list building their wealth in property.<\/p>\n Property was the second most common way to make the top 200 over the past year \u2013 it made up $136 billion of the list\u2019s $707.25 billion total value, second only to mining.<\/p>\n And for those who made their money in other industries, property remains a source of personal or secondary investment.<\/p>\n Still, getting an accurate picture on the cost of the homes for the ultra-rich is not always easy \u2013 meaningful Cotality data topped out at the top 5 per cent of prices.<\/p>\n<\/p>\n Gerard Burg, Cotality\u2019s head of research in Australia, said, \u201cthese [billionaire home prices] were so extreme that we couldn\u2019t get reliable data out of the system on them\u201d.<\/p>\n \u201cWhen you look at lists of record sales, they are often co-located in very small pockets,\u201d he said. \u201cIt winds up being rich people selling houses to other rich people, and the cycle continues.\u201d<\/p>\n The richest people in Australia have lived in the same homes, in some of the country\u2019s richest areas, for several decades.<\/p>\n Related Article Australia\u2019s richest person in 2026 is Gina Rinehart, who has held the title now for seven consecutive years. The iron ore magnate has significant rural land holdings and a total estimated wealth of $39.01 billion.<\/p>\n Like her business, Hancock Prospecting, she inherited her sprawling home in Perth\u2019s exclusive riverfront suburb Dalkeith from her father, Lang Hancock.<\/p>\n Australia\u2019s second-richest billionaire, Henry Triguboff, made his money as founder of property developer Meriton.<\/p>\n With $32.28 billion to his name, he owns an expansive waterfront home in Sydney\u2019s Vaucluse, which was purchased in 1984 for $4.1 million. The property next door was added to the block for $6 million in 1998.<\/p>\n Recycling magnate Anthony Pratt was third on the list, worth $25.19 billion. <\/p>\n While Pratt has moved to the US to expand his Visy business, his family home, Raheen, is in Melbourne\u2019s Kew<\/a>. Pratt inherited the property from his father, Richard, who purchased it from the Archdiocese of Melbourne in 1981.<\/p>\n But some of the most expensive homes in Australia aren\u2019t owned by those at the top of the list.<\/p>\n Coonac, on Clendon Road in Toorak, sold last year for what at the time was thought to be the most expensive property purchase in Australian history.<\/p>\n Settlement documents revealed<\/a> that Georgina Bastas \u2013 wife of pharmaceuticals billionaire Dennis Bastas, No.26 on the list \u2013 paid $124 million in cash for the home, and recently bought an adjoining property for $12.1 million, adding another 1200 square metres to the existing 1.09 hectare grounds.<\/p>\n The title of most expensive property goes to an amalgamated apartment in the Residences One tower at Barangaroo in Sydney, which sold for $141.55 million<\/a> tomillennial multimillionaire, Yan Zhang \u2013 who does not appear on the list at all.<\/p>\n The most expensive house purchase goes to Atlassian co-founder Scott Farquhar, now 13th on the rich list with wife Kim Jackson, who paid $130 million for the Point Piper<\/a> cliff-top mansion Uig Lodge in 2022.<\/p>\n Farquhar sold his previous home, Elaine, for the same amount \u2013 in the same suburb \u2014 just two years later. He and Jackson have a portfolio of properties across NSW and are worth a combined $11.7 billion.<\/p>\n Burg said while house prices are slowing in many of the areas where the wealthy live \u2013 Domain data shows median house prices in Toorak and Kew<\/a> in particular both declined by more than 10 per cent annually in the March quarter \u2013 top-end homes were unlikely to be affected by factors such as rate hikes or uncertainty.<\/p>\n \u201cWe\u2019ve done research in the past on prestige houses, and often they\u2019re simply sold for cash,\u201d he said. \u201cWhen your net worth is so high, it often separates you from the general market and the trends within it.\u201d<\/p>\n![\"Elaine,](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/06\/ecf21ce637136f95ae203fc734cafbf043874b6c.jpeg\")
Elaine, the former home of rich listers Scott Farquhar and Kim Jackson, sold for $130 million in 2024.<\/p>\n![\"Toorak\u2019s](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/06\/8fd0ef4af6ea75ee1cd084002c244b5a5103ee0c.jpeg\")
<\/a><\/p>\n![\"Gina](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/06\/cb3b862b066c3be4113d6f9e43fcadce0ca520c2.jpeg\")
Gina Rinehart’s large estate.Trevor Collens<\/p>\n![\"Raheen,](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/06\/3525db83f4ce859b02c932296424e586f0d28d7a.jpeg\")
Raheen, in leafy Kew.Darrian Traynor<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/06\/1781207895_666_c415f0bd595d7620713d131a98989f02d0ff038e.jpeg\")
The Bastas family owns the Toorak property Coonac, one of the country\u2019s most expensive homes.Louis Trerise<\/p>\n![\"Residences](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/06\/1ca5b8b1f6c61c09009a2734ff9a6ee56e1afc9c.jpeg\")
Residences One under construction.Louise Kennerely<\/p>\n![\"Scott](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/06\/ad76545f16fa8fdbef14af0f1434feec43343f37.jpeg\")
Scott Farquhar and Kim Jackson\u2019s Point Piper mansion, Uig Lodge.Steven Siewert<\/p>\n
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