Will Altona's Sydney price record fall with the latest Vaucluse waterfront reserve offering?

There was a recent Fairfax Media article, headlined "New kid set to knock Altona off the block?"

It suggested a yet to be completed Vaucluse house had emerged, set to knock Altona off its perch as Sydney's most expensive house.

Buyers from China had flown in to inspect the home, attracted by its extensive harbour views and the fact it is newly constructed.

The reputed asking  price was put at $60 million.

The property, reported to have cost more than $20 million to build, has been listed by Andrew Ipkendanz, who bought two adjoining lots in 1997 for just over $10.6 million. (Not the $6 million in the SMH article.)

Soon after Fairfax Media's report came the News Ltd article  suggesting the hotel-sized three level house had already attracted a knocked-back $50 million offer.

The reputed reported $60 million asking price would exceed the recent sale of the Point Piper mansion Altona and the long standing $45 million record for Vaucluse.

Altona's official sale price remains under wraps, due to a loophole in land transfer reporting rules, but has been estimated at $52.5 million by Property Observer - and at $54 million by the Fairfax Media, either way a likely Sydney record and a national residential record topped only by the sale of a Perth compond property for $57.5 million in 2009.

Doubt still exist surrounding Villa Venuto's sale, but Property Observer has suggested it was $52 million or so.

So all up, and wishing the vendor the best price obtainable, Property Observer is doubtful that the Carrara Road, Vaucluse offering actually threatens any record.

{module Do you think the Vaucluse listing will challenge the Australian price record?}