Instant millionaire Jordan Smith will spend his Australian Open winnings at home

An Aussie tennis coach who has offered $1 million in prize money as top tennis champions plan to stake his winnings.

Jordan Smith, a 29-year-old tennis coach from Sydney, won the 1 Point Slam on Wednesday night, knocking out Australian Open champion Jannik Sinner in the event for the $1 million prize.

A budding tennis star shot from obscurity to fame overnight by winning a singles tournament, where novices square off against pros and celebrities in the shortest matches decided by just one point.

The event was a historic event, attracting a full house at the Rod Laver arena in the first week of the Australian Open.

Mr Smith earned his place in the tournament by winning the 1 Point Slam NSW Championship, alongside seven other Australian novices.

Professionals playing in the draw include Carlos Alacaraz, Alexander Zverev, Naomi Osaka and Iga Swiatek, who are joined by celebrities including comedian Andy Lee, TV presenter Karl Stefanovic and jockey Damien Oliver.

Mr Smith defeated AFL star Bailey Smith in the first round, before knocking out Brazilian star Laura Pigossi in a thrilling encounter.

He then faced last year’s Australian Open winner, Jannik Sinner, who bowed after hitting his ball into the net. The rules of the tournament allowed experts only one task, while novices were allowed two standard ones.

Mr Smith defeated last year’s Australian Open winner Jannik Sinner on his way to the $1 million prize. Photo: Getty

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In the next round Mr Smith quickly dispatched Amanda Anismova, who took a long time to come back, and put her in the semi final.

A win over Pedro Martinez took him to the finals, where he faced Taiwanese professional Joanna Garland, who had a hand that gave Mr Smith the $1 million prize.

Mr Smith was in disbelief when he won the lottery, which made him an instant millionaire. Photo: Getty

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When asked what he would do with the prize money, he replied: “Definitely try to buy a house, because Sydney prices are expensive.”

“Maybe even half a house, who knows, an apartment?” then he laughed, perhaps realizing that $1 million can only go so far in Sydney’s booming property market.

“This is going to look great with a brand new housecoat,” tennis player and broadcaster Todd Woodbridge told Mr Smith when he received the trophy. Photo: Getty

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PropTrack data shows there are still 104 suburbs in the Greater Sydney area where median house prices are below $1 million, representing less than 17% of suburbs.

However, a budget of $1 million is the most advanced in the Sydney unit market, and is enough to cover a mid-priced property in about 72% of Sydney suburbs.

A $1 million budget would be enough to buy a mid-priced house in Castle Hill, where Jordan Smith works as a tennis coach, but the house would need twice that budget. Photo: realestate.com.au/sold

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It would be enough to buy a mid-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 can be a tall order, given the median home price of less than $2.43 million. The last home to sell in Castle Hill for $1 million or less was a two-bedroom duplex that sold in 2022.

Realestate.com.au is the official real estate partner of the Australian Open, which runs from January 12 to February 1 this year.

Fans can take a closer look at the Australian number. 1 address in tennis, with champion Pat Rafter swapping his racket for real estate to host the Australian Open video in an exclusive listing on realestate.com.au.