A Sydney home built in the 1920s has smashed property price records across the ditch, selling for close to $50 million AUD.
Lang Syne is an 1100-square-metre block on the clifftops of Tamarama in Sydney's Eastern Suburbs overlooking the Bondi to Bronte coastal walk.
According to 9News, the property was last sold in 1959 for £9750 - just under $20,000 NZD in today's terms.
The four-bedroom, two-bathroom turned out to be a good investment for the last buyer, having now sold for close to $50 million AUD.
That is nearly double the previous record for a home sold in the same region, which 9News reports was $25 million.
Australia's Financial Review (AFR) said the buyer of the house was advertising guru David Droga.
While the exact price paid by Droga for the home is not yet known, AFR reported it's at the lower end of the $47m-$52m AUD price guide which the home was listed at.
Dimity Griffiths, who lived in the home for 64 years with her late husband, radio personality Harry Griffiths, was the home's lucky seller.
Property expert Robert Klaric told the Today show it's more than likely the home's new owner will demolish the 1920s home currently on the land to rebuild.
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