New data has confirmed what all Sydneysiders already knew to be true: That our city is ridiculously expensive. And it has nothing to do with avocado toast before anyone even dares go there.
The Sydney property market is eye-wateringly expensive already, but it’s expected to rise another 10% by the end of 2021, (noting a 2.1% jump in February 2021 alone — the largest month-on-month increase in 17 years).
Last month, property platform Domain reported the median house price in Sydney had risen 2.5% to now sit at $895,933, while Melbourne house prices have also risen 2.1% to $717,767. All in all, the market is rising at its fastest rate in 17 years.
Now, new data from CoreLogic shows those suburbs pulling in the highest prices, and in all of Australia, a whole nine of them are located in Sydney. Surprise, surprise. Even less shocking is the fact most of these suburbs form a cluster in the upscale Eastern Suburbs region.
These are Australia’s most expensive suburbs in Australia and the median value of their homes sold in the past year. And if you’re interested to live in any of these, at least you’ll now be informed and can get started on the budget that’ll help you get there, even if it takes 400 years.
10. Dover Heights, Sydney
Median house price: $3,666,840
9. Rose Bay, Sydney
Median house price: $3,862,952
8. Tamarama, Sydney
Median house price: 4,002,227
7. Toorak, Inner Melbourne
Median house price: $4,008,852
6. Mosman, Sydney
Median house price: $4,162,405
5. Woolwich, Sydney
Median house price: $4,242,030
4. Double Bay, Sydney
Median house price: $4,759,221
3. Vaucluse, Sydney
Median house price: $5,388,372
2. Bellevue Hill, Sydney
Median house price: $5,722,032
1. Darling Point, Sydney
Median house price: $7,063,773
In Sydney at least, the one common thread linking each of these high-earning suburbs was a water view. Not hugely surprising, but it seems Australians are willing to front the most cash on properties backdropped by rolling waves or the iconic Sydney Harbour.
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