Zac Efron has bought a “modest” £1 million house. The ‘High School Musical’ star has splashed out the huge sum on the luxury Los Angeles property – which includes an infinity pool and views across the city – but remains unfazed by his large investment.

He said: “It’s very modest. It’s not a big house. It’s pretty cool. A lot of my friends were like, ‘Dude I want to own a house.’ ”

Despite his huge investment, Zac is currently sleeping on the floor as he is yet to purchase any furniture.

He added: “I don’t have a bed! I’m still on an air mattress. I’ve just moved in, I have no furniture. But I’ve got a decorator. He’s kind of a friend.”

Meanwhile, Zac, 21, is rumoured to be making an appearance at this year’s Oscars ceremony to present the Best Original Song award.

The actor is also expected to perform in a group dance routine along with his ‘High School Musical’ co-star girlfriend Vanessa Hudgens and ‘Mamma Mia’ actress Amanda Seyfried which will be choreographed by ‘Australia’ director Baz Luhrmann.

The Academy Awards take place on Sunday (22.02.09) in Los Angeles.