Craig Tiley’s 73 Nepean Highway beach house, once listed at $11.5 million, closed the deal for $7.35 million in late September 2023, a steep drop from its $13.1 million purchase price in 2022.
The sale follows Tiley’s resignation as Tennis Australia CEO earlier this year when he accepted the top post at the US Tennis Association, a move that may have accelerated the property’s sale.
The 1,998‑square‑metre estate boasts four bedrooms, four bathrooms, a floodlit tennis court, heated pool, spa, and a four‑car garage, with direct beach access and panoramic views of Port Phillip Bay.
Market analysts note that Aspendale’s high‑end homes are still moving, though sellers who bought in 2021‑22 face sharper discounts; local broker Cameron Howe warns that prices climb steeply at the upper end of the pyramid.
With stamp duty adding $831,500, Tiley’s total loss sits at roughly $6.58 million, equating to a daily hit of about $4,070, a financial setback that may influence his next career steps.
The sale highlights a broader trend of owners in Melbourne’s beachside suburbs selling at lower prices after the 2022 boom, prompting concerns about the sustainability of the market’s high‑end segment.