The most expensive luxurious holiday-home rentals for summer

Demand for luxury holiday homes with tennis courts and private jetties continues to be strong this summer despite a fall of 20 to 50 per cent from the market sector’s peak during the pandemic.

However, there have been changes in renters’ behaviour, says Alex Ormerod, managing director of holiday home rental company Luxico.

“We’ve seen changes in booking patterns where people want to spend less per night but have the same quality of property that they might have booked previously,” she says. “And they’re staying for shorter periods.”

Much like your average holiday stay, location and time of year heavily influence prices at the top end of the market.

For example, the five-bedroom Balmoral Luxury Estate holiday rental in Sydney’s Mosman will set you back at least $10,000 a night in December but will be $6000 a night in the off-season. It has a pool, ample backyard space and easy access to Balmoral Bay, Edwards beach and Carroll’s Lookout.

“A clear view of the Sydney Harbour Bridge and the Opera House is not going to be cheap to book,” Ormerod says. “You’d expect to pay between anywhere between $3000 and $10,000 a night.”

Fellow top-end holiday home company Contemporary Hotels has also seen a price normalisation of the market, but chief executive Matthew Fleming says high-level spending is still strong.

For $75,000 a night, the company offers a Sydney CBD penthouse named The Residence that has private lift access from Pitt Street, a private lobby, full-time chef, butler, cleaning staff, rooftop pools and perfect Sydney harbour views. 

“I would argue [The Residence is] Australia’s finest penthouse available for holiday use,” Flemming says. “It is specially reserved for Hollywood superstars, royalty and dignitaries, along with travelling billionaires.

“Those amazing properties available in Sydney, Bondi Beach and Sydney Harbour for visitors coming to Australia are booking very well.”

He says Aussies are more inclined to stay in Palm Beach and Byron Bay during the Christmas period.

One property in demand in Byron Bay is Wategos Eclipse Estate, which was designed by Harley Graham and curated by NYC-based designer Piper Skillman. It is filled with original artwork and custom furniture. To stay in this holiday rental just 50 metres from Wategos beach will cost a minimum of $60,000 for a seven-night stay.

Luxurious holiday rentals are also all the rage in Victoria, with locations like Sorrento always in high demand.

Affluent Victorian families stay on the peninsula for a few weeks at a time to escape city life for a short while, says Jellis Craig Short Stays director Claire Smith.

“Anything with a pool, anything close to the bay, anything within walking distance of [the] village area is becoming a lot more popular than Portsea,” she says.

The typical holiday home rental here can range between $8000 and $10,000 a week. For estate holiday rentals, prices start at $20,000 a week.

“We’ve got estate type properties which have tennis courts [and] outdoor space on huge parcels of land, where you’ve got everything. You’ve got games room and movie theatre rooms,” Smith says.

“We’ve got a few on the cliff in Sorrento … where you could just walk down to your own private jetty and your own beach, and that’s pretty special.”

Parts of Queensland, particularly Noosa, continue to be in strong demand during the school summer holidays, says Niche Luxury Accommodations general manager Bobbie Murphy.

“When it’s Victoria and NSW school holidays, we are basically at high occupancy levels,” she says.

“The southern states are still travelling a lot during the peak season, but we are seeing that our low seasons still have really good occupancy.

“Our most expensive properties are over $6000 a night. And then you’ll have other properties that are averaging $2000 to $3000 a night for the high-end luxury forefront properties in Noosa.”

The Iluka, a four-bedroom luxury property in Noosa Heads, has riverfront views, a pool, a private pontoon and easy access to Hasting Street for $6000 a night during the peak summer season. It’s slightly cheaper during the off-season at just $3000 a night.

Another Queensland top pick via Luxico is Beaches at Sunrise in Sunrise Beach. For $3000 a night, you get a four-bedroom home on the beachfront with a pool and stunning views from the deck.