Instant millionaire Jordan Smith to spend Australian Open winnings on house
The Aussie tennis coach who pocketed $1 million in prize money while upstaging tennis champions plans to put his winnings towards property.
Jordan Smith, a 29-year-old tennis coach from Sydney, won the 1 Point Slam on Wednesday night, knocking out reigning Australian Open champion Jannik Sinner in the process to claim the $1 million prize. The amateur tennis star shot from relative obscurity to overnight fame by winning the knockout tournament, where amateurs square up against professionals and celebrities in ultra-short matches determined by just one point. The event was a hit, attracting a full house to Rod Laver arena in the opening week of the Australian Open.
Mr Smith earned his place in the tournament by winning the 1 Point Slam NSW Championship, alongside seven other amateurs from around Australia. Professionals playing in the knockout tournament included Carlos Alacaraz, Alexander Zverev, Naomi Osaka and Iga Swiatek, who joined celebrities including comedian Andy Lee, TV host Karl Stefanovic and jockey Damien Oliver.
Mr Smith defeated AFL star Bailey Smith in the first round, before knocking out Brazilian pro Laura Pigossi in a thrilling rally. He then squared off against last year’s Australian Open winner Jannik Sinner, who bowed out after hitting his serve into the net. The rules of the tournament gave the pros only one serve, while amateurs were allowed the usual two. In the next round Mr Smith quickly dispatched Amanda Anismova, whose return went long, sending him into the semi final. A win against Pedro Martinez took him to the final, where he faced Taiwanese pro Joanna Garland, whose wide backhand gave Mr Smith the $1 million prize.
When quizzed on what he would do with the prize money, he answered: “Definitely try and buy a house, because Sydney prices are expensive.” “Maybe even half a house, who knows, an apartment?” he then quipped, perhaps realising that $1 million can only go so far in Sydney’s soaring property market.
PropTrack data shows there are still 104 suburbs within the Greater Sydney region where median house prices are under $1 million, representing less than 17% of the city’s suburbs. However, a budget of $1 million goes a lot further in Sydney’s unit market, and is enough to afford a median-priced apartment in almost 72% of Sydney suburbs. It would be sufficient to purchase a median-priced unit in Castle Hill, where Mr Smith works as a tennis coach – the median unit price there is $995,000.
However, a house in Castle Hill might be a tall order, given the suburb’s $2.43 million median house price. The last house to sell in Castle Hill for $1 million or less was a two-bedroom duplex which sold in 2022.
Source: https://www.realestate.com.au
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