A recent study showed more Australians prefer to rent than to buy, but it seems to be an altogether different situation for the couple who paid $57.5m for Australia's most expensive home.
The mining magnate couple, Chris and Tia Ellison, spent an additional $11.6m this year to buy the neighbouring houses as well.
The couple first purchased a four-bedroom, non-waterfront house of iron heiress Angela Bennett for more than $6.6m in May. Another non-waterfront five-bedroom home was bought in August for $5m, securing a “family compound”.
The latest acquisitions stretched Ellisons' total land holding to 9,159 square metres and their total outlay to just shy of $70m, Stuff.co.nz reported.
To date, the couple's combined estate now amounts to more than three times the size of Altona in Sydney's Point Piper, which was sold for $52m last year, and more than four times the size of the former Baillieu family estate in Melbourne's Toorak, which traded for $24m in 2010. 

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now