Point Piper waterfront home | Source: Realestate

The Most Expensive Suburbs in Sydney

Sydney doesn’t just hold the title of Australia’s most expensive city but also accommodates nine out of ten of Australia’s most expensive suburbs – where the median price of a house can regularly exceed three million. So, what makes these suburbs so attractive? Let’s take you through the most expensive suburbs in Sydney and the reasons for their incredibly sky-high values.

Point Piper

Located in Sydney’s east, this small and highly exclusive suburb boasts a multiplicity of hillside mansions, yacht clubs and uninterrupted views of the harbour and Sydney city skyline. With it’s median house price hitting A$15 million in 2021, Point Piper is both Sydney’s and Australia’s most expensive suburb. Throughout the year, the suburb experienced a number of notable sales with one home selling for over A$40 million.

Image: The view from a mansion balcony on Point Piper’s Wolseley Road Source: Real Estate

Tamarama

This eastern Sydney suburb offers the upmarket coastal lifestyle that many Australians and international buyers look for. Located just six kilometres away from the CBD and neighbouring the popular Bondi Beach, Tamarama and it’s beachside properties offer the best of Sydney living. Lovingly nicknamed Glamarama for it’s glamorous residents, the suburb’s median house price rose to A$10.22 million this year, with multiple sales reaching over the A$25 million line.

Image: Tamarama from the air Source: Tamarama Apartments

Centennial Park

With just over 100 free standing houses rarely coming to market, Centennial Park can be a relatively difficult suburb to buy into. Enveloped by sprawling parkland, the homes are grandly set back from the road and mainly occupy 1900-era federation buildings. The suburb’s secluded nature, picturesque location and limited opportunities to buy lends itself to a median house price of A$7.3 million. Only last year, the former home of one of Australia’s richest people, tech billionaire Mike Cannon-Brookes, sold for almost A$17 million.

Image: Centennial Park mansion, Lactura Source: Domain

Bellevue Hill

Found in Sydney’s exclusive eastern suburb enclave, Bellevue Hill is one of the city’s most expensive suburbs with a median house price of A$6.4 million. The suburbs boasts a mixture of ultra modern and period style architecture, with most homes taking up large blocks with pools, tennis courts and landscaped gardens. As a largely residential suburb, Bellevue Hill retains a distinctly haven-like quality that’s so desired by it’s wealthy residents.

Image: A home in Bellevue Hill Source: Real Estate

Double Bay

Double Bay is an affluent harbour side suburb with beautiful leafy streets, alfresco dining and fashion boutiques. With a luxury residential portfolio of waterfront mansions, Victorian terraces and contemporary townhouses, the suburb’s median house price sits at just over A$6 million. With it’s stylish waterfront eateries, access to the city centre and oasis like private properties, Double Bay offers it’s high income earning residents the best of Sydney living.

Image: The view from the balcony of a home in Double Bay Source: Real Estate

Vaucluse

With it’s breathtaking cliffside homes, colonial mansions and ocean views, Vaucluse is possibly one of the most spectacular suburbs in Australia. While Vaucluse’s median house price sits at A$5.95 million, the suburb can see sales between A$30 and A$60 million, particularly along Coolong Road. This was the case in 2016 when Menulog founder, Leon Kamenev set a property record when he purchased four waterfront Coolong Road properties for a combined price of A$80 million.

Image: A rooftop garden and pool in Vaucluse Source: ArchitectureAU

If you’re interested in reading about more of Australia’s most expensive suburbs then you can read about Perth, Melbourne, Adelaide and Brisbane here.

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