Top 10 most expensive suburbs in Sydney:
- Bellevue Hill
- Dover Heights
- Double Bay
- Rose Bay
- Palm Beach
- Point Piper
Sydney has some of the most luxurious and extravagant living in Australia. Of course, it all comes with a steep price tag, but why? If you take a look at the above suburbs, you may see the answer! They are situated very close to the CBD, stunning views of the Harbour bridge, water front views, cliff views, prime boutique shopping and elegant cafes.
Let’s take a look at Bellevue Hill. Located in Sydney’s eastern suburbs, Bellevue Hill is one of the most expensive suburbs in the country. It is dominated by grand estates and heritage manors, with a house AVM of $8.42 million. The area is one of the most sought-after in the country, combining world class real estate with priceless views, a convenient location, and prestigious schools. It provides the ultimate lifestyle opportunity. A lack of supply and the suburbs high desirability have somewhat insulated it from a broader market cooldown when it comes to prices. There has been a general shift in the market over the last 6 months, however, the upper end of the housing market, including Bellevue Hill, hasn’t shifted and remains strong.
What about the exclusive Harbourside enclave of Point Piper? So tightly held are the mega-mansions in this part of town that getting an accurate AVM isn’t possible due to low sales. Point Piper is home to billionaire Atlassian boss Mike Cannon-Brookes, who shelled out $100 million for his historic home, Fairwater and his business partner and company co-founder Scott Farquhar, who bought the Elaine estate for $71 million.
Point Piper does feature on the most expensive list for units, with an AVM of $5.2 million, putting it at the 10th spot nationally. A recent sale indicating the types of high-end apartments is 5/23 Wolseley rd, a brand-new unit with 3 bedrooms, every possible convenience, and jaw-dropping views of the city skyline, Opera House, Harbour Bridge and water. Sold for $16.5 million in March.
Vaucluse ranks second on the most expensive suburbs in Sydney list. With a house AVM of $8.08 million, up by 2.15% in the past quarter and 13.2% higher year-on-year.
It’s followed by Dover Heights on $6.6 million, up 3.8% quarter-on-quarter and 12% higher in the past year, then Double Bay on $6.3 million, up o.3% in the past three months and 9.11% year-on-year.
The top 10 most expensive suburbs in Sydney are located mostly in the eastern part of the city. Slightly further afield, the pristine pocket of Palm Beach on the northern beaches came in 7th on the most expensive suburbs in Sydney list with a house AVM of $5.5 million. Palm Beach has grown into one of Australia’s most desirable seaside destinations. Buyer demand has eased in the past several months due to rising interest rates and reduced borrowing capacity, with some of the heat coming out of the local market.