Sydney continues to be the priciest place for buyers, with the Harbour City now home to eight of the top ten most expensive suburbs in Australia.
So which Sydney suburbs are among the nation’s most expensive and where else does it cost a fortune to buy a house?
Where are Australia’s most expensive suburbs?
Darling Point topped the list of most expensive suburbs in Australia with a median house price of $6.8 million followed by Vaucluse at $4.17 million and Cremorne Point at $4.1 million.
Australia’s most expensive neighbourhoods range in median price from $6.8 million – $3.2 million, realestate.com.au/invest data taken from the 12 months up until 5 December 2016 shows.
“Darling Point remains the most expensive with a median of $6.81 million. Despite still being the most expensive, it has decreased from $7.4 million earlier this year,” she says.
High-priced neighbourhoods this year haven’t experienced strong growth.
“Although the top end is expensive, it hasn’t always seen the same level of price growth as other markets, reflecting the relatively shallow pool of buyers.”
So what attracts buyers to these pricey suburbs and just how expensive are they?
1. Darling Point (NSW)– $6,812,500
Located just four kilometres from the CBD, Darling Point has long been home to more mature residents.
ABS data shows that while residents in this area have an average weekly salary of $2511 over 80% live in apartments rather than houses.
2. Vaucluse (NSW) – $4,175,000
Affluent Vaucluse sits on the South Head peninsula offering great views of the Harbour City.
The family-orientated area is close to the beaches at Sydney Harbour National Park.
3. Cremorne Point (NSW)– $4,100,000
The harbourside suburb of Cremorne Point is just 6km from Sydney’s CBD, and with the views the area has to offer most properties in this part of the city are apartments rather than houses.
The residents of this tightly-held area are largely established families and older couples.
4. Bellevue Hill (NSW) – $4,035,000
Leafy Bellevue Hill, with its parks and laid-back bayside lifestyle, has long been home to Sydney’s well-heeled set.
Housing in the area is often gated and set back from the street. Properties range from 1920s bungalows to Hamptons-style modern homes.
5. Dawes Point (NSW) – $3,900,000
Situated next to Millers Point, Dawes Point is right on the Harbour and offers the kind of views that tend to attract eye-watering prices.
With the development in neighbouring Barangaroo growing, the area will continue to attract solid interest from buyers.
6. Tamarama (NSW)- $3,605,000
The beachside suburb of Tamarama is just seven kilometres east of Sydney’s CBD and it’s known to some locals as Glamourama since it’s where the city’s beautiful people go to top up their tans.
The family-friendly suburb is located halfway along the Bondi to Bronte ocean walk and buyers are attracted to its laid-back lifestyle.
7. Peppermint Grove (WA) – $3,550,000
Western Australia’s Peppermint Grove regularly features on lists of Australia’s most expensive suburbs and has historically been home to some of Perth’s wealthiest families.
Situated close to the beach on the north bank of the Swan River, this area offers luxury living with property prices to match.
8. Toorak (VIC) – $3,425,000
Long associated with those at the top end of town, Toorak offers stylish boutiques, excellent cafes and restaurants and relatively quiet tree-lined streets less than 10kms from Melbourne’s CBD.
Historically home to some of Melbourne’s most impressive mansions and increasingly newly built stately homes, the suburb also boasts several prominent private schools.
9. Dover Heights (NSW) – $3,300,000
The coastal suburb of Dover Heights is nestled between Rose Bay and North Bondi and it offers a relaxed family-friendly lifestyle and plenty of high-end properties.
10. Mosman (NSW) – $3,290,000
The hilly streets of Mosman are lined with historic homes and luxury new houses.
With great views, plus Balmoral Beach nearby it’s not hard to see why this area is popular, particularly with baby boomers
Original Article: https://www.realestate.com.au/news/most-expensive-suburbs-in-australia-2016/