- One of the most expensive horses cost $4 million
- The combined capitals median is just over $1 million
- Other horses fetched the same as the median in Perth, Hobart, and Darwin
As you don your fascinators and look for the trifecta at the Melbourne Cup, what does a racehorse cost? And how do those numbers stack up against the average Australian house?
Real estate’s magic millions
According to SQM Research, the latest asking price for all houses in Australia is over $800,000, with the capital city average a furlong ahead at over $1.2 million a pop.
National
Earlier this year, a Domain Report found the median house prices across Australian capital cities ticked over the $1 million mark, with more recent data from October still finding the combined capitals to be over the magic million mark.
Domain’s data also showed Sydney had the highest median at a whopping $1.46 million.
Stratified Median House Prices
What does a racehorse cost?
“How long is a piece of string?” goes the old saying. It could be as much as a house in Perth, the regions, Darwin, or Hobart.
Looking at the Magic Millions sales figures across this year, it depends on what you’re looking for. Perth yearling sales saw the top five lots go for between $270,000 to $330,000; the top figure was for Lot 174, the offspring of Playing God and Moodometer.
The Adelaide yearling sale saw a similar price range, so too did Gold Coast March yearling sales.
The 2022 Gold Coast national weanling sale saw the top five lots go for between $750,000 and $525,000. the offspring of Zoustar and Members Joy cost more than the average house in Perth, Hobart, and Darwin.
Racehorse costs more than Australian houses
The 2022 Gold Coast national broodmare sale saw the top five lots go for more than the average Aussie home.
Away Game was sold for $4 million, costing almost four times more than the average Australian house (combined capitals).
The top five lots included Tofane at $3.1 million, Madam Rouge at $2.4 million, and two horses that both fetched $1.7 million each: Lighthouse, and Fantasy.
While the seven figure price tag for some horses pale in comparison to Sydney’s most expensive house at $24.6 million, or Melbourne’s most expensive house at $43.1 million.
