The $1.4 million mansion that drums home the reality of Aussie housing

Welcome to the French listing that drives home the economic reality of the Aussie housing market.

For $US650,000 ($AU$1.4 million), you could buy this six-bedroom French castle on 4.1 acres or the average house – or unit – in Sydney’s suburbs.

The historic estate, in Normandy wine country,  consists of ornate, dressed stone and handsome turrets, and includes stables, a storehouse, veggie patch and views of the Andaines forest.

It is price matched by the house median in Sydney’s Parramatta ($1,325,000), the unit median in Bondi Beach ($1.4 million), and the median for a houses in Dundas ($1.48 million), Harrington Park ($1.45 million), Peakhurst ($1,422,500) and Rozelle ($1,402,500), Domain’s latest House Price Report shows.

This is just a snapshot of the dozen or so suburbs with a median in line with a substantial French chateau.

The Normandy address is listed off market, according to IG Mansions, an Instagram account sharing the most beautiful mansions for sale around the world. Off market means it is not publicly for sale and the prospective purchaser will need to know the agent.

It was built in 1850 for a mining magnate, according to IG Mansions, and is a fine example of Italian Renaissance architecture.

“You can buy a cardboard box for that in the UK,” said one comment on the post, reflecting what Aussies would be thinking.

Others following the account speculated one what the taxes would be in France.

The median house price in Sydney stands at $1,652,448, which represents 7.8 per cent yearly growth.

Price growth in Sydney is losing steam, Domain’s figures show. However, “house prices have increased by $220,000 (or 15.2 per cent) since the December 2022 price trough”, according to Domain’s latest House Price Report (for the three months to June 2024).