Sarah Millar

Sarah Millar

Sydney’s exclusive Point Piper is Australia’s most expensive suburb, with a median house price of more than $9 million.

The harbourside enclave – home to Communications Minister Malcolm Turnbull, Westfield Group founder Frank Lowy and Aussie Home Loans boss John Symond – is know for its luxury mansions and sweeping views of the water.

The median house price in Point Piper is $9,400,000.

Point Piper’s median house price is more than double that of Australia’s second most expensive suburb – Peppermint Grove in Western Australia – where the median house price is $3.8 million.

In third place, with a median house price of just over $3.6 million is Vaucluse, just across the inlet from Point Piper.

Just two suburbs outside of NSW make the national top 10 list with, Melbourne’s Toorak ranking as the country’s seventh most expensive suburb.

All the Sydney suburbs within the top 10 share one thing in common – proximity to the city’s famed harbour and beaches.

No suburb in the top 10 had a median house price of less than $2.75 million.

Australia’s top 10 most expensive suburbs

Listed as suburb, state, median house price

1. Point Piper, NSW – $9,400,000

Australia’s most exclusive suburb, the waterside enclave is home to the rich and powerful. The suburb also boasts Australia’s most expensive sold property of the past financial year – ‘Mandalay’ – which sold for a whopping $40 million.

Elaine, Point Piper, SydneyView full listing

With mansions like this one boasting sweeping views and direct beach access, it’s no wonder Point Piper sets the benchmark.

2. Peppermint Grove, WA – $3,800,000

Western Australia’s most expensive suburb, Peppermint Grove, is also the country’s smallest local government area. Set on the north bank of the Swan River, Peppermint Grove was named for its trademark peppermint trees. The suburb has the highest average weekly income in WA.

1 Butler Way Peppermint Grove View full listing

Newer, resort-style homes sit comfortably alongside historic mansions in the sought-after suburb.

3. Vaucluse, NSW – $3,615,000

One of Sydney’s most exclusive suburbs, Vaucluse sits on the South Head peninsula and affords views of Sydney Harbour and the Sydney Harbour Bridge.

8 Vaucluse Road VaucluseView full listing

A decent-sized bank balance is required to land one of the large mansions that sit above the beach. Few would argue that the view wasn’t worth the price.

4. Bellevue Hill, NSW – $3,390,000

Next in the long list of exclusive eastern suburbs in Sydney, Bellevue Hill sits between Point Piper, Rose Bay and Double Bay.

191 O'Sullivan Road Bellevue HillView full listing

Rolling, manicured lawns stretching out in front of historic mansions are the norm for Bellevue Hill, with California Bungalows, Georgian and Hamptons-style homes prevalent.

5. Kirribilli, NSW – $3,300,000

Housing the PM’s Sydney residence, Kirribilli is one of Sydney’s oldest suburbs. Set on the northern side of the harbour, Kirribilli offers close-up views of the Sydney Harbour Bridge and the Opera House.

Kirribilli-listingView full listing

Art deco buildings mix it with modern apartments in wide, leafy streets just a stroll from the water.

6. Potts Point, NSW – $3,200,000

Million-dollar views mix it with the edginess of Kings Cross in this suburb bordered by Elizabeth Bay and Wooloomooloo Bay. With access to some of Sydney best bars and restaurants and a short jog to the Royal Botanic Gardens, it’s easy to see why it’s a sought-after spot.

92 Brougham Street Potts PointView full listing

Art Deco apartments and two-storey terrace homes are the norm, with most homes in the area tightly held.

7. Toorak, VIC – $3,000,000

Melbourne’s most exclusive and expensive suburb, Toorak is luxury living at its best. Home to some of Australia’s richest businesspeople and philanthropists, as well as well-known celebrities and sportspeople, Toorak is all about mansions, boutique shopping, and wealthy private schools.

32a Hopetoun Road Toorak View full listing

Wide tree-lined streets boast historic mansions alongside more contemporary homes, while luxury apartments are also springing up across the suburb.

8. Tamarama, NSW – $2,885,000

South of iconic Bondi, Tamarama is home to one of the world’s first surf lifesaving clubs. The Tamarama Surf Life Saving Club was founded in 1906 and volunteers patrol what is considered one of Sydney’s most dangerous patrolled beaches.

4 Wolaroi Crescent Tamarama

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More modern houses sit alongside art deco apartment buildings overlooking the famed Coastal Walk between Bronte and Bondi beaches.

9. Longueville, NSW – $2,862,500

Sitting on Sydney’s lower north shore, Longueville has grown from its beginnings as an industrial and manufacturing suburb to one the country’s most expensive residential areas.

36 Dettmann Avenue Longueville

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Longueville sits on the peninsula between Tambourine Bay and Woodford Bay and boasts a mixture of architectural styles including Victorian and Federation-style homes, Californian Bungalows and contemporary houses.

10. Double Bay, NSW – $2,750,000

Another in Sydney’s affluent east, Double Bay exudes a more relaxed charm than some of its surrounding suburbs.

50 Bay Street Double Bay

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Tree-lined streets that wind down to the water are lined with period-style terraces and Victorians, which site alongside art deco apartments where young professionals make their home.

 

 *Based on information provided by RP Data. Median Sold Price is the median price for properties sold in a given suburb/postcode in the last 12 months. This is limited to suburbs which have had at least 10 sold properties in the last year for houses with any bedroom configuration. Data correct as of 13 July 2015

 

 

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