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Suburbs in Australia
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HOME LIFESTYLE & LIVING DREAM HOMES AUSTRALIA’S 25 MOST EXPENSIVE SUBURBS – & THEIR HOUSES
by realestate.com.au15 OCT 2012
Dream Homes, Brisbane, Melbourne, Sydney
Australia’s 25 most
expensive suburbs – &
their houses
RP Data has revealed the richest suburbs in the country for owning a home.So where can you live for a mere $7 million? And what does that look like?Using median values analysis for houses, Senior RP Data Analyst TimLawless has identified the most expensive locations in Australia for homeownership.
Unsurprisingly, Sydney waterside suburbs dominate the upper crust.
Point Piper takes the national crown, with a median value of a cool $7.3million. The suburb also has a very high rate of home ownership; of 148detached houses, 57 percent are owned outright.
Peppermint Grove is the richest WA suburb, and fifth overall. The medianhouse value there is $4,284,941 million.
Here’s the top 25 richest suburbs and their median house value. Follow thelink to see current homes listed in those areas. Pictured is a sample of thehomes on offer.
1. Point Piper, Sydney NSW, $7,381,887
2. Watsons Bay, Sydney NSW, $6,476,767
3. Centennial Park, Sydney NSW, $5,217,016
4. Woolwich, Sydney NSW, $4,621,152
5. Peppermint Grove, Perth WA, $4,284,941
6. Darling Point, Sydney NSW, $4,235,112
7. Henley, Sydney NSW, $3,489,357
8. Vaucluse, Sydney NSW $3,279,795
9. Bellevue Hill, Sydney NSW, $3,104,186
10. Eagle Bay, South West Busselton WA, $2,860,776
11. Double Bay, Sydney NSW, $2,833,482
12. Toorak, Melbourne VIC, $2,774,578
13. Tamarama, Sydney NSW, $2,737,142
14. Dover Heights, Sydney NSW, $2,627,931
15. Dalkeith, Perth WA, $2,561,031
16. Rose Bay, Sydney NSW, $2,379,752
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17. Lavender Bay, Sydney NSW, $2,330,499
18. Orange Grove, Perth WA, $2,238,256
19. Palm Beach, Sydney NSW, $2,191,449
20. Cremorne Point, Sydney NSW, $2,183,485
21. Kooyong, Melbourne VIC, $2,105,116
22. Mosman, Sydney NSW, $2,075,036
23. Longueville, Sydney NSW, $2,054,493
24. Linley Point, Sydney NSW, $2,043,915
25. Bronte, Sydney NSW, $2,011,687
Eagle Bay in the Margaret River region has a median house value of $2.86million – but the most expensive home currently on the market is priced at$10.5 million.
Queensland’s most expensive suburb for houses is Main Beach, on theGold Coast. Number 34 on the overall rich list, Main Beach has a mere 88detached houses (just 5.9 percent of all properties).
Bayview is the highest placing suburb in the Northern Territory, ranked 196overall. Median house value there is $1,081,238 million.
So what pulls premium prices from buyers in these areas?
Lawless says there’s definitely a pattern. Suburbs are either close to thewater, feature heritage homes or offer large blocks of land. Many have allthree going for them. All but three are less than 10km from their CBD.
Battery Point is the only suburb in Australia where it costs less than $1million to buy into the rich list, with a median house value of $861,560.
The rich list really is the home of the 1% – less even – with the top 25suburbs and surrounds accounting for just 0.5 per cent of Australia’spopulation. According to Mr Lawless, the vast majority of people can’t affordto buy, or for that matter, rent in these suburbs.
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