$1.4 million mansion highlights Aussie housing reality,
Welcome to the French property that illustrates the economic realities of the Australian housing market.
For $US650,000 (approximately $AU1.4 million), you could purchase this six-bedroom French castle on 4.1 acres of land.
Alternatively, this amount could buy you an average house or unit in the suburbs of Sydney.
The historic estate is located in Normandy wine country, showcasing ornate dressed stone and beautiful turrets throughout its structure.
Additionally, it features stables, a storehouse, a vegetable patch, and stunning views of the Andaines forest.
The price of the French chateau matches the median house price in Sydney’s Parramatta, which is $1,325,000.
Similarly, the unit median in Bondi Beach is $1.4 million, while houses in Dundas and Harrington Park exceed this price.
In fact, the median for houses in Peakhurst is $1,422,500, and Rozelle’s median is $1,402,500, according to Domain’s latest report.
This data provides just a snapshot of the many suburbs with medians comparable to this substantial French chateau.
According to IG Mansions, the Normandy property is listed off-market, meaning it is not available for public sale.
Thus, prospective buyers need to know the agent to inquire about purchasing the estate.
Built in 1850 for a mining magnate, this property showcases exquisite Italian Renaissance architecture, as noted by IG Mansions.
One comment on the post humorously remarked, “You can buy a cardboard box for that in the UK.”
This comment reflects the thoughts of many Australians who view the housing market critically.
Additionally, others speculated about the potential taxes one might incur in France if purchasing the property.
As for Sydney, the median house price currently stands at $1,652,448, which indicates a yearly growth of 7.8 percent.
However, the growth in Sydney’s prices appears to be slowing down, according to Domain’s recent figures.
Despite this, house prices have increased by $220,000, or 15.2 percent, since the price trough in December 2022.
Receive the latest property news and advice directly in your inbox
