Australia’s most expensive suburbs, is YOUR suburb on the list?

• Sydney dominated the list so much we had to remove all Sydney suburbs
• The top suburbs are a veritable mish mash of metropolitan mansions and private oases
• The top 20 included contributions from four different states and territories

Australia’s most expensive suburbs by median house price are all concentrated in Sydney, the most expensive city in Australia, and one of the most expensive in the world.

It comes as no surprise Sydney commands such a premium, with waterfront properties typically commanding a large premium, and due to Sydney’s unique geography, some homes have views both of the famous Sydney Opera House sails, actual yacht sails as they swing past during the Sydney to Hobart, along with endless beach views.

Sydney’s most exclusive postcodes are also home to stately mansions positioned on large plots too, all of which add up to some truly mind-boggling prices.

Median house prices for the list are all above $5 million a piece, and even some Sydney suburbs outside the top 20 still command a $5 million price tag.

Across Australia, SQM Research data shows there are over 200,000 properties listed for sale.

Prices across the nation have also been on a sharp upward trend, in the months before the pandemic, house prices across Australia were gently creeping up from around $570,000 in December 2018, to $590,000 in December 2019.

Asking prices for homes across Australia shot up thereafter, with the latest figures showing houses in Australia costing a whopping $831,907 on average.

You can also discover the most expensive suburbs for Perth, Adelaide, Sydney, Melbourne, Brisbane, and Gold Coast, click on the city to take you there.

Australia’s most expensive suburbs

Note: While marked as “city”, data includes suburbs outside of the metropolitan area.

Australia’s most expensive suburbs, excluding Sydney’s top 20

Take the harbour city’s top 20 out of the equation, and the most expensive suburbs across Australia are still dominated by Sydney; Victoria’s Mornington Peninsula makes one appearance in the top 20 and so does Moreton Bay. The remainder is all from Sydney, again.

Australia’s most expensive suburbs, excluding Sydney altogether

With Sydney completely out of the equation, which suburbs are the most expensive in Australia? The most expensive median house value is in Victoria’s Main Ridge, commanding a sub $5 million price tag of $4.6 million.

Queensland’s coastal jewels also command over $4 million, with Perth’s most prestigious suburb making the top ten most expensive suburbs in Australia, excluding Sydney.

The top 20 most expensive suburbs in Australia feature entries from four different states and territories, but outside of that, Melbourne dominates the list.

Why are Sydney and Melbourne so expensive?

Look a little closer at the above lists and the answer seems to be straightforward: It’s the waterfront premium.

The Property Tribune previously reported on how just adding water can bring a house price up 64%, according to a Knight Frank report. That figure for harbourside homes, with coastal homes up 16%, canals 13%, and rivers 7%.

Add a jetty to your home and it could also add more value, up 32%.

More details here.

Most of the suburbs on the list have excellent inner city locations too, with the other category being palatial holiday homes in some of Australia’s most picturesque locations.

Other factors can include the size of the home or the land, with many of these prime and super-prime properties situated on quarter acres or larger in inner city areas, where homes are typically medium to high density – think townhouses and high-rise apartments; demand is unsurprisingly a large factor too.