Despite the recent downturn, Sydney remains Australia’s priciest city for a home, but when you look at floor plan size, a few quirky listings far eclipse the harbour city’s penchant for seven-figure sales.
Data from PropTrack shows Sydney is by far the priciest capital per square metre, at around $2,500, though some blue-chip areas can greatly outstrip this.
Unit prices have held up better than houses, suggesting buyers are seeking affordability amid high interest rates. Picture: Getty
Melbourne, too, features expensive floor plans, larging owing to smaller apartment and block sizes. It sits in second place by this metric, even though its meagre price growth over the past few years sees it ranked as one of the most affordable capital cities.
Let’s dive into some of the more expensive listings as far as dollars-per-square-metre goes.
Melbourne cell-turned-cellar with six square metres
Cell 4120/4 Wardens Walk in Coburg, formerly Pentridge Prison, sold under the hammer for $81,000 back in May.
While less than $100,000 for a historical property sounds cheap, at six square metres, this technically puts it at one of the most expensive floor plans in the nation at more than $13,500 per square metre.
Selling agents told realcommercial.com.au that you’re buying into a slice of history.
The former prison cell now known as 4120/4 Wardens Walk, Coburg, has made history as the first cell auctioned from the old Pentridge Prison. Picture: realestate.com.au
While the vendors were truly above board and beyond reproach, former tenants of the prison were typically anything but.
Pentridge Prison was a ‘who’s who’ of Victoria’s criminal underworld, with anyone from Ned Kelly to Chopper Read spending time there, before it shuttered in 1997; its inmates were schlepped across town to the newer Port Phillip or further afield to Barwon.
Chilly cell 120 in D Block was marketed for its wine storage nous, offering climate-controlled facilities, security, and surveillance.
Owing to its secure features, agents also said it would suit not only a wine collector, but watches, too. So, anything from a pinot to a Patek Philippe can feel safe and secure here.
Selling agent Raphael Calik-Houston also said it could make for an interesting co-working space, which was the most popular search term on realcommercial.com.au over the past six months.
In cell block D there are also breakout areas with couches, bathrooms, and a grand piano. Events are regularly hosted in the prison block, including a fortieth birthday party shortly before Real Commercial took a tour.
Adelaide’s prime CBD carpark
More sizeable than a prison cell is a 15 square metre carpark in Adelaide’s CBD at 200 Pirie Street.
It's offered for sale for $60,000 on realcommercial.com.au as a strata-titled, vacant property, coming in at $4,000 per square metre.
The spot is accessed via two lifts, and the whole carpark is accessed securely via swipe card. It is situated in the northeast quadrant of Adelaide’s CBD, adjacent to Hindmarsh Square.
A parking space in Adelaide CBD is currently for sale on realcommercial.com.au for $60,000. Picture: realcommercial.com.au
Ray White Commercial data from 2025 found Adelaide CBD parking prices had increased the fastest of any capital city over the preceding 12 months, to an average casual rate of $27.55 a day.
Assuming a commuter parks five days a week, over 48 weeks per year, that’s more than $6,600 per year, meaning the carpark would pay for itself in less than 10 years – potential strata fees notwithstanding.
However, parking rates can vary considerably based on early bird specials, other discounts, and demand pricing.
Similar lots in Adelaide CBD listed on Parkhound are around $400 a month.
Investors in the Pirie Street parking space could also realise its money-spinning potential, leasing it out for major events or for when demand is particularly high.
Tiny pockets in premium Sydney postcodes
A host of tiny lots in premium pockets of Sydney did the rounds earlier in the year, including a 101sqm riverfront parcel at 4E Brent Street in Russell Lea.
It ended up selling under the hammer for $279,000 back in May, placing the lot at nearly $2,800 per square metre.
A tiny 101sqm lot (bottom left) in Russell Lea sold for $279,000 back in May, creating instant intrigue among neighbours and developers. Picture: Belle Property Hunters Hill
Consider, too, that the property has an easement dictating access to the electricity transformer box onsite, plus a two-metre radius around it.
Speaking to realestate.com.au in May, Belle Property selling agent Joshua Jarvis said the typical buyer pool consists of developers who love a “unique challenge”, as well as those on neighbouring properties who want a bit more room.
A similar plot in Croydon Park sold for $187,000 back in March, forming part of a wider Ausgrid selloff.
A 101sqm parcel in Mosman also sold for $679,000 in May, priced at more than $6,700 per square metre.
Driveways in blue chip suburbs of Sydney also raised eyebrows when it was revealed some sold for more than $1 million back in March.
English (US) · 