The luxurious holiday home rentals that cost up to $150,000 a night

Summer visitors to Sydney are paying up to $150,000 a night to stay in the lap of absolute luxury as the harbour city’s high-end holiday home market continues its rebound after COVID-19.

While other choice NSW areas like Byron Bay have had prices fall by 10-20 per cent from their peak, with the most expensive rental there now a snip at $10,000 a night, Sydney remains popular.

Contemporary Hotels chief executive Matthew Fleming thinks it’s the best summer for Sydney’s high-end holiday homes since 2018-19.

“We’re finding a lot of people coming to Sydney from overseas and interstate, with many high-net-worth families coming to enjoy the low Australian dollar and the eastern suburbs, Bondi and around the harbour.”

Fellow top-end holiday home company Luxico is similarly anticipating a hot summer market, but managing director Alex Ormerod said visitors were tending to book more last minute, as they were probably still suffering a hangover from the pandemic’s cancellation fatigue.

“Sixty per cent of our bookings have been within a month,” Ormerod said. “People are waiting to see and then making travel decisions on the fly, and so we still have some beautiful properties available over the peak season.

“People are still spending money despite the global economy and, at home, the mortgage rate and rising cost of living. But they’re tending to take shorter holidays, more frequently.”

Sydney’s top rentals for watching the New Year’s Eve fireworks, then enjoying the best of the city’s summer, include Contemporary Hotels’ One in Bellevue Hill, a huge home with seven bedrooms and fabulous views of Rose Bay, with a tennis court, pool, entertaining areas, a fire pit and concierge services, with a five-night minimum booking that costs $750,000 at $150,000 a night.

Then there’s Darling Point’s Sutherland, via Luxico, a five-bedroom, architect-designed home on the harbour, with a full-sized gym, infinity pool, internal lift and two BBQ areas for $10,000 a night. Another top pick is its $9000-a-night Balmoral Golden Mile, a five-bedroom home in Mosman with a gym, pool, lift and wine room.

Slightly cheaper is The Wharf, Birchgrove, at $8500 a night, a three-bedroom home on the heritage wharf on the harbour with stunning views from the deck, inset with its own pool, on offer by Contemporary Hotels.

The other short-stay platforms are experiencing high demand, too. At Stayz, travel expert Daniel Finch says demand is high for Sydney, but there’s still time to book a holiday home as a front-row seat for the fireworks, or as a luxury getaway for the season.

“While cost of living pressures are undeniably a consideration for many Aussies right now, our data shows that they’re still prioritising travel over summer,” he said. “In fact, bookings on Stayz for the Christmas and New Year period are up when compared to last year.

“Alongside unrivalled waterfront views, guests can book homes with popular amenities such as hot tubs or outdoor decks and those looking to explore Sydney’s attractions will enjoy the accessibility and convenience of staying in a holiday home right in the heart of it all.”

Finch recommends Stayz’s two-bedroom Kiara apartment in Kirribilli for the New Year’s Eve display at $7200 a night, a four-bedroom four-level terrace nearby at $4000 a night or, still in the same suburb, the two-bedroom ‘Bridgeview’ for $3548.

Rival Airbnb’s top Sydney rental is a three-bedroom architect-designed award-winning townhouse in Paddington – with heated marble floors, an open fire, and internal water feature – which rents for $1783 a night. A brand new four-bedroom house in Manly is $1399 per night, while a four-bedroom sandstone home, a former stable, just off Hyde Park will set you back $1150 a night.

Susan Wheeldon, country manager for Airbnb, Australia and New Zealand, said affordability was top of mind for many people due to the rising cost of living.

“However, for some holidaymakers luxe stays are on their wishlist for New Year’s Eve and summer.”

Many wealthy Australians though are still travelling overseas, choosing Aspen in the United States or Japan over local destinations, Fleming said.

“As a result, we’re seeing that places like Byron Bay, Palm Beach and Noosa are not as strong as in previous years,” said Fleming.

“We probably won’t see that concentration of demand we had in COVID-19 ever again. There are definitely bargains to be had in Byron Bay, with prices up to 20 per cent off their peak.”

Ormerod agrees, saying prices have definitely come back in Byron. “Also, the supply of holiday homes has now increased as the owners are no longer using them as much now they can travel overseas, so they’re put them back to be rented out,” she said. “So there’s some very reasonable value around now.”