Australia’s most expensive suburbs will shock you with how much they cost. Image: Canva.
  • 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, AdelaideSydneyMelbourneBrisbane, 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.

Rank Suburb Value
 1 Point Piper $23,966,600
 2 Centennial Park $8,050,000
 3 Darling Point $7,816,600
 4 Dover Heights $7,693,700
 5 Vaucluse $7,084,100
 6 Tamarama $6,741,600
 7 Watsons Bay $6,657,000
 8 Bronte $6,421,000
 9 Whale Beach $5,893,700
 10 Kurraba Point $5,800,000
 11 Cremorne Point $5,699,000
 12 Bellevue Hill $5,594,200
 13 Bilgola Beach $5,540,000
 14 Henley $5,473,700
 15 Palm Beach $5,353,300
 16 Rose Bay $5,341,200
 17 Sydney $5,330,000
 18 Cawdor $5,210,600
 19 Balgowlah Heights $5,123,100
 20 Rhodes $5,105,000

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.

Rank Suburb Median value City 
1 Mosman $5,076,100 Sydney
2 Rossmore $5,072,200 Sydney
3 Bringelly $4,914,700 Sydney
4 Dorroughby $4,883,300 Sydney
5 Manly $4,864,400 Sydney
6 Coopers Shoot $4,733,300 Sydney
7 Longueville $4,718,700 Sydney
8 Duffys Forest $4,716,600 Sydney
9 Double Bay $4,697,500 Sydney
10 Clontarf $4,633,300 Sydney
11 Northwood $4,598,300 Sydney
12 Main Ridge $4,593,300 Melbourne
13 Coogee $4,497,200 Sydney
14 Chiswick $4,468,300 Sydney
15 Sovereign Islands $4,411,200 Brisbane
16 Kemps Creek $4,400,000 Sydney
17 Lavender Bay $4,391,600 Sydney
18 Elizabeth Bay $4,274,000 Sydney
19 Clovelly $4,264,200 Sydney
20 Castle Cove $4,233,300 Sydney

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.

Rank  Suburb Median value City 
1 Main Ridge $4,593,300 Melbourne
2 Sovereign Islands $4,411,200 Brisbane
3 Merricks North $4,183,600 Melbourne
4 Flinders $3,917,000 Melbourne
5 Dalkeith $3,514,800 Perth
6 Main Beach $3,453,300 Brisbane
7 Peppermint Grove $3,251,000 Perth
8 Point Leo $3,218,300 Melbourne
9 Dandenong South $3,168,300 Melbourne
10 Cottesloe $3,156,400 Perth
11 Moorooduc $3,028,300 Melbourne
12 Jollys Lookout $2,999,900 Brisbane
13 City Beach $2,985,300 Perth
14 Canterbury $2,932,000 Melbourne
15 Mermaid Beach $2,905,400 Brisbane
16 Teneriffe $2,896,400 Brisbane
17 Fairhaven $2,800,300 Melbourne
18 Cooroy Mountain $2,783,300 Brisbane
19 Red Hill $2,755,400 Canberra
20 Sanctuary Cove $2,699,400 Brisbane
21 Noosa Waters $2,692,100 Brisbane
22 Kangaroo Ground $2,672,500 Melbourne
23 Southbank $2,621,500 Melbourne
24 Albert Park $2,580,400 Melbourne
25 Bellbrae $2,569,500 Melbourne
26 Toorak $2,555,800 Melbourne
27 Yarralumla $2,540,100 Canberra
28 Brighton $2,535,200 Melbourne
29 Portsea $2,499,300 Melbourne
30 Merricks Beach $2,475,000 Melbourne
31 Middle Park $2,468,200 Melbourne
32 Deepdene $2,426,800 Melbourne
33 Balwyn $2,379,900 Melbourne
34 Porcupine Ridge $2,376,600 Melbourne
35 Eagle Bay $2,366,600 Perth
36 Hamilton $2,365,600 Brisbane
37 Malvern $2,363,100 Melbourne
38 Sorrento $2,353,500 Melbourne
39 Forrest $2,318,800 Canberra
40 Shoreham $2,318,000 Melbourne
41 Wallington $2,294,200 Melbourne
42 Kew $2,289,000 Melbourne
43 New Farm $2,287,700 Brisbane
44 Swanbourne $2,255,200 Perth
45 Toorak Gardens $2,254,700 Adelaide
46 Merricks $2,253,300 Melbourne
47 Ascot $2,252,600 Brisbane
48 Mosman Park $2,246,300 Perth
49 Eaglemont $2,240,600 Melbourne
50 Kooyong $2,232,000 Melbourne

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.

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