A waterfront home in Point Piper has changed hands after remaining with the same family for about 40 years, in a suburb where property turnover sits well below the Sydney average.
The property at 31 Wunulla Road sold for around $35 million after initially reaching the market with a $50 million asking price, leaving a difference of about $15 million between the two figures.
Michael Dunn of Richardson & Wrench Double Bay and James Dunn of Sydney Sotheby’s International Realty jointly handled the sale, with the property marketed by expressions of interest.
Rare Change Of Ownership In Point Piper
Homes in Point Piper change hands relatively infrequently.
Cotality’s 2025 Best of the Best report recorded a property turnover rate of 2.3 per cent for the suburb. That compares with 4.3 per cent across Sydney and 4.8 per cent nationally.
The suburb has 218 properties, while its median house price was recorded at $17,313,502.
Against that backdrop, the sale of 31 Wunulla Road brings an approximately four-decade period of ownership by the same family to an end.
The property last changed hands for $343,000 in 1977 before returning to the market decades later.
Waterfront Home Overlooks Rose Bay
The four-bedroom, four-bathroom residence occupies about 1,139 square metres overlooking Rose Bay.
Its waterfront features include terraced gardens, a private jetty, boatshed and swimming pool. The home also has several living and dining areas, two parking spaces and a separate annex.
The main bedroom includes an ensuite and private terrace with views across the water.
These property details remain secondary to a sale that represents an uncommon change of ownership within a suburb where relatively few homes are sold each year.
$15 Million Gap Between Asking And Sale Price
The Wunulla Road property had been offered at $50 million before selling for around $35 million.
The approximately $15 million difference between the initial asking price and reported sale price was one of the most notable aspects of the transaction.
Point Piper was also ranked by Cotality as Australia’s most expensive suburb, placing the sale within one of Sydney’s smallest and least frequently traded residential pockets.
The buyer of 31 Wunulla Road was not identified.
Published 7-September-2026
