John Paul Young sold a $266k Bronte home. It just resold for $12m

A Bronte home once owned by Love Is in the Air singer John Paul Young resold at auction on Thursday for $11.95 million to a local family.

Records show Young sold the Federation house for $265,500 in 1985 to retired solicitor Rennie Spanko and his wife Pauline. The Spanko family had owned the property since 1985 and sold it as they are downsizing.

Young is perhaps best known for pop hit Love Is in the Air, a song written for him in 1977, as well as the 1975 track Yesterday’s Hero. Young appeared on the television show Countdown in the 1970s and 1980s.

The Bronte residence, which now consists of a three-bedroom home and a self-contained studio, sold under the hammer. It was called on the market at $11 million and bidding got down to two parties.

Interiors feature decorative archways, ornate ceilings, leadlight windows and a timber kitchen. There is a saltwater pool with ocean views.

Young previously told Domain that he had “great times” at the residence. Records show John and his wife Lynette own a property in the Lake Macquarie area.

Prices in Bronte have weakened, with the median house price falling 15.2 per cent over the year to September to $5,235,000, according to the latest Domain House Price Report. Still, the suburb has recorded some multi-million dollar auction results in October.

A five-bedroom, three-bathroom house sold for $12.12 million to a local downsizer, $870,000 above the reserve price, as reported by this masthead.

An eight-bedroom deceased estate set on a block of 1028 square metres also sold for $25.2 million, after it was called on the market at $21.5 million.

Alexander Phillips and Thomas Fuller of Ray White Phillips & Co sold the Spanko family’s home, alongside James Ball and Edward Quince of Sydney Sotheby’s International Realty.

Phillips told this masthead Bronte was a very resilient suburb in down markets.

“It’s because of the community aspect, access to the city and the beach. It’s not a transient suburb like Bondi or Coogee,” he said. “It’s tightly held. People either sell up or down.

Ball added the appeal of Bronte was down to the “amenities, proximity to schooling and the healthy lifestyle on offer”.

Barangaroo penthouse for sale

The two-level penthouse residence at One Sydney Harbour in Barangaroo has hit the market with a price guide of $85 million.

With 700 square metres of internal space, the property is akin to a house in the sky, and comes with a private sky terrace that includes an outdoor fireplace, spa and lounge areas.

Records show the four-bedroom home was purchased by Qing Zhong, the managing director and chief executive of mining company Admiralty Resources, for $48.14 million in 2025. The penthouse has never been occupied.

Zhong also owns another residence at One Sydney Harbour, bought for $38.95 million in 2024.

The on-market Barangaroo apartment’s interiors feature New York marble and Roman travertine. All bedrooms have en suites, and there is also a cinema and sauna, with an office on a dedicated floor.

Hui Xu, who is selling the residence alongside Ken Jacobs – both of Forbes Global Properties – said the penthouse would appeal to two key groups.

“Internationally active entrepreneurs seeking a prestigious Sydney base, and Australian local families who want the space and privacy of a substantial home with the convenience of penthouse living,” she said.

Xu said Barangaroo was emerging as Sydney’s newest “Billionaires’ Row”.

“Sophisticated international buyers who are accustomed to penthouse living in London, New York or Hong Kong see Barangaroo as a compelling choice for establishing their Sydney home within their international portfolio of residences.”

Crown Residences, opposite One Sydney Harbour, has billionaire owners including AirTrunk founder Robin Khuda, Birkenstock heir Alex Birkenstock and James Packer.

NRL star cuts asking price on rental

Nathan Cleary, star halfback at NRL club the Penrith Panthers, has reduced the asking rent of his Curl Curl property, months after purchasing it for $5.5 million.

Settlement documents show Cleary paid the figure in June to children’s charity Stewart House, after the property was sold in April. He is the sole owner.

In October, the cottage was listed for $2350 per week, with bond set at $9400. It’s now available for $2000 per week, with bond set at $8000.

The property is now configured as a three-bedroom, one-bathroom house. At the time of purchase, it had four bedrooms, one bathroom and dated interiors.

Cleary has since transformed the Northern Beaches home with new floorboards, a fresh lick of paint, a brand-new kitchen and an updated bathroom.

Linda Nero and Harrison Lowe of Belle Property Dee Why were unable to comment on any aspect of the listing or on interest shown in the property.

Paul Franks of Area Specialist, who sold the residence to Cleary, also declined to comment on any aspect of the sale.

Property alerts are now available in the SMH app. Turn them on to receive the latest market news and trends.