Revealed: Australia’s most expensive suburbs – including one where the average unit costs $2.2MILLION
- Point Piper in Sydney’s eastern suburbs has a median unit price of $2.201million
- A harbourside apartment there costs more than double a typical Sydney house
- Nearby Darling Point has Australia’s most expensive houses at $6.510million
Australia’s priciest suburb is so expensive an ordinary unit costs $2.2million – more than double the price of a Sydney house.
Harbourside Point Piper, home to multi-millionaire former prime minister Malcolm Turnbull, topped the dearest units list along with nine other Sydney suburbs.
Nearby Darling Point was the most expensive for houses, with a median price of $6.510million in 2019, and only one non-Sydney postcode – Toorak in inner Melbourne – made the top ten.
A harbourside apartment is estimated to cost more than double a typical Sydney house
Sydney’s eastern suburbs took out two spots on CoreLogic’s list of Australia’s most pricey place for an apartment, with Point Piper at No. 1 – having a median price of $2.201million.
That’s enough to buy two mid-priced Sydney houses for $956,249 each, with enough left over to snap up a brand new Porsche 911 Carrera 4 sports machine.
Nearby Darling Point, with a median price of $1.858million was third, after Millers Point overlooking the Sydney Harbour Bridge, which had a mid-point price of $1.932million.
The city’s eastern suburbs took out two spots on CoreLogic’s list of Australia’s most pricey place for an apartment, with Point Piper at No. 1 – having a median price of $2.201million.
Sydney’s North Shore had three suburbs in the top ten for apartments.
Milsons Point, on the northern side of the Harbour Bridge, came in at fourth, with a median unit price of $1.748million.
Cabarita, 14km west of the city, was fifth with a median price of $1.499million.
It beat The Rocks, across Circular Quay from the Opera House, which had a mid-point unit price of $1.498milion.
Cremorne Point, near Mosman on the Lower North Shore, had a median apartment value of $1.456million.
Seaforth, overlooking Middle Harbour on the Northern Beaches, typically cost $1.420million for a unit, putting it ahead of Kirribilli on Sydney Harbour ($1.385million) and Manly, which commanded $1.335million in a suburb with a beach and harbour access.
The Sydney Harbour suburb is also proof that Australia’s most expensive suburbs for units in 2019 had water views
When it came to Australia’s most expensive suburbs for houses, nine out of the top ten were in Sydney.
Toorak, with a median price of $4.694million, was the only entry from Melbourne.
It is home to the likes of media personality and Collingwood AFL club president Eddie McGuire.
Darling Point, in Sydney’s eastern suburbs, had the distinction of being Australia’s most expensive suburb to buy a house, with a mid-point price of $6.510million.
The city’s eastern suburbs was home to six of nation’s most expensive real estate with Bellevue Hill ($5.468million), Vaucluse ($4.909million), Rose Bay ($4.184million), Double Bay ($4.134million) and Dover Heights ($3.653million) on the top ten list.
Sydney’s Lower North Shore took top three spots with Cremorne Point ($3.987million), Mosman ($3.895million) and Woolwich ($3.871million) making the cut.
Darling Point, in Sydney’s eastern suburbs, had the distinction of being Australia’s most expensive suburb to buy a house, with a mid-point price of $6.510million