The best and worst of real estate in 2013

As the year comes to an end, you’d be used to the various reviews of the past year in property and forecasts of what’s ahead. ran an interesting review of some of the best of the best in property:

Property in 2013 by the numbers:

Highest median value

House: Point Piper, Sydney, $6,312,475

Units: Dawes Point, Sydney, $2,452,651

Lowest median value

House: Ungarie, Central West NSW, $62,200

Unit: McCracken, Outer Adelaide, $109,609

Highest gross rental yields

House: Johnston, Darwin, 14.7%

Units: Ultimo, Sydney, 11.2%

Highest gross rental yields within 10km of capital city

House: Larrakeyah, Darwin, 8.3 per cent

Unit: Ultimo, Sydney, 11.2 per cent

Greatest 12-month change in median values

House: Kirribilli, Sydney, 42.5 per cent

Unit: Enmore, Sydney, 46.9 per cent

Highest median weekly rent

House: Newman, Pilbara, $2,165

Unit: Port Hedland, Pilbara, $1,300

Highest gross value of sales

House: Mosman, Sydney, $805,977,253

Unit: Surfers Paradise, Gold Coast, $571,568,317

Source RP Data

The most expensive home sold in 2013

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The most expensive home sold in Australia this year had a $52 million price tag, just shy of the $57.5 paid for the nation’s priciest home – in Mossman Park, Perth – which changed hands in 2009.

Altona in Sydney’s Point Piper has arguably the most spectacular backyard of any home in the country with stunning views of the Opera House and Harbour Bridge.

Owned by Deke Miskin, a former publishing mogul, and his bikini-designer wife, Eve, the Point Piper property was on the market since 2007 without asking price.

The buyer was an investment company whose sole director is Xiuzhen Ding, a Chinese-born resident of Elwood, a beachside suburb in Melbourne.

Boasting a series of terraces overlooking lawns and the harbour, Altona also has a heated pool, private jetty and sauna, along with a rooftop deck and a fully kitted out boathouse which would put most Sydney homes to shame.

There are also eight bedrooms and seven bathrooms.

Foreign buyers purchase 1 in 8 new properties

Asian buyers also shaped the sector, fuelled by a low Aussie dollar and Beijing’s ban on buying more than one property, with some developers marketing new units exclusively to offshore buyers.

Meanwhile, foreign buyers snapped up one in every eight new properties built this year – up from one in 20 properties in 2011, National Australia Bank research revealed.

At $17 million, this stunning three-bedroom penthouse in Sydney’s CBD must have seemed like a bargain to a Chinese investor who bought it for his children attending university in the city.



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Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit

'The best and worst of real estate in 2013' have 3 comments


    March 27, 2014 doomed

    Came across this looking for the best and worst real estate ‘agency’ something someone needs to write about with similar facts and figures based on complaints and such. The public needs this especially renters who while paying to call a building home are not the clients but the product. Even more so now places like Queensland where the majority of tenant rights services are being shut down.



    December 30, 2013 Nik

    Hi Michael,

    I am looking for an investment property in Melbourne area. This will be my first property in Australia. I am completely new in real estate sector. I want to limit myself with a budget max upto 300k. Pls suggest which area I should look into?



      Michael Yardney

      December 30, 2013 Michael Yardney

      Just telling you a suburb or 2 is likely to lead you astray. You have to buy the right property in that suburb and then buy it at the right price.
      You budget will only allow you to buy an apartment – you can’t really get a house in an investment grade suburb at that price.
      In fat it’s likely to end up being a 1 bedroom apartment. I would look at one or 2 selected inner western suburbs


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