What Is The Richest Suburb In Sydney?

Data has proven what everyone in Sydney already knew: that living here is prohibitively expensive. And before you even think it, no, this has nothing to do with toast with avocado.

The already eye-popping prices in the Sydney real estate market are shocking. A 2.1% increase from February 2021 alone is significant; it's the greatest monthly increase in 17 years, and it's anticipated to rise additional 10% by the conclusion of 2021.

Domain, an online real estate marketplace, said last month that the typical price of a home in Sydney had increased by 2.5% to $895,933, while the median price of a home in Melbourne had increased by 2.1% to $717,767. The overall pace of growth in the market is the highest it has been in over 17 years.

Now, according to data from CoreLogic, we know which neighbourhoods in Australia are bringing in the most money, and nine of them are in Sydney. I was taken aback by this revelation. It shouldn't come as a surprise either that the majority of these communities are concentrated in the affluent Eastern Suburbs.

Here is a look at the median property price in Australia's priciest neighbourhoods over the previous 12 months. And if any of these sound appealing to you, you may immediately begin planning a financial strategy to eventually reach them, even if that takes another 400 years.

Although it's not the nation's capital, Sydney, Australia, is among the world's most costly cities.

Like its neighbour Melbourne, Sydney has some of the most expensive housing in the world.

Some estimates put the average cost of a home in Sydney at A$1.14 million, leaving it out of reach for the vast majority of residents.

Suburbs can range in price from the low hundreds of thousands to well over a million dollars.

With a median sale price of $5.7 million, Darling Point is the most expensive of Sydney's established neighbourhoods. It is next by Cremorne Point ($4.875 million) and Bellevue Hill ($4.775 million). To see the entire index, please scroll down.

CoreLogic statistics for the 12 months ending 30 April 2017 reveals that the median home price in Sydney's priciest suburbs is between $5.7 million and $3.2 million.

For suburbs where at least ten houses changed hands during that time period, these numbers show the median sales price for that locations.

Sydney's Most Expensive Suburbs

Sydney, Australia's most expensive city, has the highest rate of increase in home prices nationally.

Sydney's high real estate prices have long been well-known, but in the past year they have reached new heights due to a combination of factors including a shortage of available properties and rising demand spurred on by lower borrowing costs.

Some of Australia's priciest and ritsiest suburbs can be found in this region.

These are Sydney's most expensive neighbourhoods if you're wanting to buy a home in an upscale area.

Tamarama – $8.12m

Tamarama is convenient if you want to live so close to Bondi, however it has relatively few reasonably priced homes available.

There are beautiful views and structures from the modern or art deco periods.

The median rent is $2,100 per week, and the median home price is a stunning $8.12 million.

The median cost of an apartment is $1.93 million.

In the wealthy coastal area of Tamarama, close to Bondi, the property market is relatively tight, with only a small number of residences available.

The average price of sale is $5.8 million. There was a -6.81% drop in growth here during the past year, which could be linked to the local housing market crash.

Tamarama, often known as "Glamarama," is mostly an apartment market with a median asking rent of $915 a week from a variety of buildings that range from modern to art deco in style and compete with one another for beachfront and cliff views.

The typical unit price here is $1.4 million, a decrease of -4.83% from the previous year.

However, it does not appear to have an effect on the high cost of housing in the area, since weekly rents for houses still average $2,150.

Darling Point – $7.06m

The most expensive neighbourhood in Sydney is located just four kilometres from the city centre and features stunning views of the harbour.

Darling Point has a typical home price of $7.06 million and a median rent of $2,200 per week.

The average condo costs $1.78 million, and rents for $900 per week.

Darling Point is the most expensive area in Sydney, with a staggering median sale price exceeding $7.7 million.

It's not that unbelievable when you take into account the beautiful waterfront views of Harbour Bridge and the attractive leafy alleys surrounded with lovely homes and flats that are just 3 miles from the CBD.

Suburb home prices have increased by 23.33 percent over the past 12 months due to a shortage of available homes. Houses and detached townhouses/terraces make up only approximately 12% of the market, so snagging one can be a challenge.

With a median transaction price of $2.4 million, Darling Point is home to some of Sydney's priciest real estate. The median weekly rent of a house in this area is $2,200, making this one of the most costly in all of Sydney. My eyes are very hurting right now. Rent for a typical apartment is $900 weekly.

Woolwich – $6.82m

Located just north of Sydney Harbour Bridge lies the tiny peninsula known as Woolwich.

The area is dominated by residents aged 60 to 69, with childless couples making up the vast majority of the local houses.

Houses in this suburb cost a median of $6.82 million, yet due to their compact nature, they are difficult to come by.

A median unit rental price has not been determined, but it is estimated to be $525 per week based on available data.

Centennial Park – $6.5m

Located in south-east Sydney, barely four kilometres from Sydney's central business district, is Centennial Park.

Many Federation or Victorian houses can be seen in the region, much like in Longueville.

The average cost of a home is around $6.5 million, but buyers have a hard time finding one.

Prices for condos average $936,000, with weekly rent of $495.

Elegant Federation & Victorian residences on spacious blocks may be found in Centennial Park, which is located about four kilometres south-east the Sydney's central business district and is home to the world-famous Centennial Park.

However, you'll need to move soon if you want to buy a home for the average price of $4.1 million. With a median home price of $799,000 and just a median rent of $550 per week, apartments are much more affordable than similar houses.

Bellevue Hill – $6.4m

Bellevue Hill's proximity to the city centre, to excellent public schools, to excellent shopping, to excellent beaches, and to excellent private schools makes it an attractive neighbourhood for wealthy families.

The neighbourhood is filled with magnificent mansions and beautiful gardens.

The average weekly rent is $1,950, and the typical home price is $6.45 million. On average, apartments cost $1.3 million, and rent is $625 per week.

Sydney's affluent families compete to move into the prestigious Bellevue Hill neighbourhood, known for its beautiful mansions and landscapes. The median price of a home within the most expensive version of Sydney is an impressive $6.4 million, while the median price of a unit is only $1.1 million.

You'd better have some cash on hand if you want to rent a place in Bellevue Hill. Median apartment rent is $720 per week, while home rent is $2,200 per week. It's simple to understand why it's so popular: it's near a variety of amenities, including shopping, beaches, the downtown area, and some of the country's top private schools.

Double Bay – $6.05m

Sophisticated and expensive homes may be found in the neighbourhood of Double Bay, which is located on Sydney Harbour.

If you decide to make the region your permanent home, you'll have access to a wide variety of chic eateries and boutiques.

Average home price is $6.054.76 million, and the median rent is a staggering $2,000.

The median price of an apartment is $1.66 million, and the typical weekly rent is $695.

This affluent harborside neighbourhood is known for its luxurious homes and tree-lined streets. Double Bay has fantastic and relaxing qualities in spades, and it is famous for its posh cafes and boutique stores.

It's worth every penny of its $4.48 million asking price since it exudes elegance, refinement, and luxury. Houses have a typical weekly rent of $1,800, whilst apartments have a median weekly cost of $800 and an average selling price point of $1.4 million.

Vaucluse – $5.82m

Vaucluse has breathtaking views of the peninsula and harbour, and is widely recognised as one of the world's most expensive neighbourhoods.

In this coastal paradise, you may find beautiful beaches wherever you go.

Vaucluse has an extremely high median home price of $5.825 million.

The median home price is roughly $1.19 million, which is lower than the median home price in other affluent suburbs, and the median rent is $650, which is also lower.

Looking for a coastal retreat? Vaucluse has some of the best trophy homes in the country. The median housing cost is a cool $5.84 million.

This wealthy neighbourhood is home toward the country's oldest lighthouse, the Macquarie Lighthouse, as well as breathtaking views of the peninsula and harbour, magnificent heritage architecture, and picture-perfect harbour beaches.

Vaucluse is one of the most expensive areas of Sydney, with yearly increase of 20.41 percent and typical rents of $2000 per week houses.

Despite a typical weekly rental of $700 and a median sale price of $1.1 million, this market has underperformed the national average by -21.93% over the past year.

Mosman – $4.56m

Mosman is another affluent neighbourhood that is home to both young families & retirees.

It's roughly eight kilometres from of the city centre and situated in the Northside neighbourhood. Both new and ancient houses have harbour views and other advantages of seaside living.

Prices for single-family homes average $4.56 million, while those for condominiums average $1.11 million.

Mosman is another high-priced Sydney neighbourhood that caters to baby boomers or young families. The Northern Beaches area is highly sought after, and its mountainous streets are lined with lavish mansions both new and ancient.

Mosman, which is home to the world-famous Taronga Zoo, is known for its picturesque harbour vistas, upscale boutiques, and charming cafes. Cost of living is high, with the typical home price at $4 million and the average weekly rental at $1,650.

Fortunately, it appears like there will be plenty of as $4 million to go around. The typical apartment costs $1,000,000, and the rent is $620 per week.

Dover Heights – $4.87m

Dover Heights, like neighbouring Bondi, is a beachside community not far from the city centre and the nearby Dudley Page Reserve.

It's a good nine kilometres from the Central Business District to the Eastern Suburb. It will cost us $4.87 million to buy a home, or $1,975 a month to rent one.

There is a typical price of $1.66 million for a one bedroom apartment in Dover Heights, with a corresponding median monthly rent of $635.

Dover Heights is a highly desirable and family-friendly seaside community, but it will cost you at least $4.1 million to buy a home there or $1,448 per week to rent. Rents of $790 per week or $1.5 million should satisfy apartment enthusiasts.

High-end residences in Dover Heights are often located on large lots and feature stunning panoramas of the city and the sea. Moreover, Bondi Beach, Dudley Page Reserve, and the heart of the neighbourhood are all within walking distance. Sydney has just the right amount of everything.

Rose Bay – $3.9m

Rose Bay is an affluent neighbourhood located between Bellevue Hill & Dover Heights, famous for its waterfront mansions and opulent atmosphere.

In other words, you'll need about $4.1 million, approximately $1,350 per week, to buy a house instead of renting.

Condos in Rose Bay cost about $1.38 million to buy and $650 per month to rent.

Cremorne Point – $4.4 million

Cremorne Point, located close to Neutral Bay and the world-famous Taronga Zoo, is the priciest neighbourhood north of the bridge.

It is approximately six kilometres from Sydney's financial district and boasts a waterfront location with views of the city's famous beaches and harbour.

Cremorne Point has stunning views of the Bridge and is well-known for its seclusion. Additionally, visitors can enjoy a well-known poolside stroll while taking in views of the Central Business District.

Cremorne Point homes cost an average of A$4.4 million, while apartments in the area cost an average of A$1.3 million.

Across the harbour, near Taronga Zoo, is the tranquil and photogenic peninsula at Cremorne Point. Cremorne Point is a coveted blue chip neighbourhood where residents can enjoy seclusion, stunning harbour views, and proximity to the natural trails of Cremorne Reserve.

While homes cost on average $4.4 million, apartments run about $1.3 million. The median rent is $750, making it more affordable for savvy tenants but still nearly actually increase national average. It has more apartments then houses in the region.

Longueville – $3.9 million

Longueville, the lowest priced high-end suburb, is located in the Lower Northern Beaches region, along with St. Leonards and Crows Nest.

Family-friendly Longueville is a great place to settle down if you value peace and quiet.

The usual cost of a rental in Longueville is close to A$1,200 per week, while the market price of a home in the area is around A$3.9 million.

Longueville is an enclave of beautiful Federation, Victorian, and California bungalow-style homes, making it an attractive residential area that is also very family-friendly because it is only eight kilometres first from city centre.

Despite its position at #10 on the list, the phrase "affordable" is not likely to be used to describe this Lower North Shore neighbourhood.

In Longueville, the typical home costs $3.9 million, while the average rent is $1,200 per week. To put it another way, this place is ideal for peaceful families looking to settle down in a scenic and natural environment.

Are Sydney's Most Costly Neighbourhoods Solely In The East?

Actually... Almost. Bellevue Hill and Mosman, both also on the pricey end of the spectrum, are known as "mansion suburbs" because of the large number of affluent families that want to keep their money within the family.

Southeast Sydney is where you will find the majority of the city's posh suburbs.

Many real estate professionals believe that inheriting a home is the only realistic method to acquire property in the East of Sydney due to the region's exorbitant prices. Unfortunately, that doesn't leave much hope for the rest of us.

Sydney Residents' Most Valuable Assets

The intangible assets (location and community) are valued twice as highly as the tangible things (buildings and fittings) amongst Sydneysiders when it comes to housing.

They favour walkable towns more than more mobile lives by a factor of 6 to 1, and they prioritise current livelihoods above long-term price rise by a factor of 2 to 1.

More than half of Sydney residents (52%) love or like their neighborhood's stores and cafes, with only 6% expressing indifference.

More than twice as many people as think they'll see a drop in local amenities over the next 3 years (32%) believe that they'll really increase (16%) instead. Three-quarters of Sydney residents are optimistic about the future of the city's infrastructure, transportation, and accessibility, while only fourteen percent are pessimistic.

Conclusion

The median price of a home in Sydney has risen by 2.5% to $895,933, and is expected to rise by 10% by the end of 2021. CoreLogic statistics for the 12 months ending 30 April 2017 reveals that the median home price in Sydney's priciest suburbs is between $5.7 million and $3.2 million. It shouldn't come as a surprise that the majority of these communities are concentrated in the affluent Eastern Suburbs. Darling Point is the most expensive of Sydney's established neighbourhoods, followed by Cremorne Point and Bellevue Hill. Some of Australia's priciest and ritsiest suburbs can be found in this region.

Darling Point is the most expensive area in Sydney, with a staggering median sale price exceeding $7.7 million. Tamarama is convenient if you want to live so close to Bondi, however it has relatively few reasonably priced homes available. Darling Point is home to some of Sydney's priciest real estate, with a median transaction price of $2.4 million. The median weekly rent of a house in this area is $2,200, making it one of the most costly in all of Sydney. Suburb home prices have increased by 23.33 percent over the past 12 months due to a shortage of homes.

Bellevue Hill, Vaucluse and Double Bay are some of the most expensive parts of Sydney. The median price of a home in Bellevue Hill is an impressive $6.4 million, while the median price for a unit is only $1.1 million. An apartment in Double Bay has a typical asking price of $4.48 million, and a typical weekly rent of $1,800. Average home price is $5.76 million and the median rent is $2,000, with stunning views of the city and harbour. Mosman is another affluent neighbourhood that caters to baby boomers or young families.

The Northern Beaches area is highly sought after, and its mountainous streets are lined with lavish mansions both new and ancient. Dover Heights is a beachside community not far from the city centre and the nearby Dudley Page Reserve. It's a good nine kilometres from the Central Business District to the Eastern Suburb. Condos in Rose Bay cost about $1.38 million to buy and $650 per month to rent. Cremorne Point has stunning views of the Harbour Bridge and is well-known for its seclusion.

Longueville is an enclave of beautiful Federation, Victorian, and California bungalow-style homes. The typical home costs $3.9 million, while the average rent is $1,200 per week. Sydney residents are optimistic about the city's infrastructure, transportation, and accessibility, while only fourteen percent are pessimistic. The intangible assets (location and community) are valued twice as highly as the tangible things (buildings and fittings) amongst Sydneysiders when it comes to housing. More than half of Sydney residents love or like their neighborhood's stores and cafes, with only 6% expressing indifference.

Content Summary:

• Data has proven what everyone in Sydney already knew: that living here is prohibitively expensive.
• The already eye-popping prices in the Sydney real estate market are shocking.
• A 2.1% increase from February 2021 alone is significant; it's the greatest monthly increase in 17 years, and it's anticipated to rise additional 10% by the conclusion of 2021.Domain, an online real estate marketplace, said last month that the typical price of a home in Sydney had increased by 2.5% to $895,933, while the median price of a home in Melbourne had increased by 2.1% to $717,767.
• The overall pace of growth in the market is the highest it has been in over 17 years.
• Now, according to data from CoreLogic, we know which neighbourhoods in Australia are bringing in the most money, and nine of them are in Sydney.
• It shouldn't come as a surprise either that the majority of these communities are concentrated in the affluent Eastern Suburbs.
• Here is a look at the median property price in Australia's priciest neighbourhoods over the previous 12 months.
• Although it's not the nation's capital, Sydney, Australia, is among the world's most costly cities.
• Like its neighbour Melbourne, Sydney has some of the most expensive housing in the world.
• Some estimates put the average cost of a home in Sydney at A$1.14 million, leaving it out of reach for the vast majority of residents.
• Suburbs can range in price from the low hundreds of thousands to well over a million dollars.
• With a median sale price of $5.7 million, Darling Point is the most expensive of Sydney's established neighbourhoods.
• Logic statistics for the 12 months ending 30 April 2017 reveals that the median home price in Sydney's priciest suburbs is between $5.7 million and $3.2 million.
• Sydney's high real estate prices have long been well-known, but in the past year they have reached new heights due to a combination of factors including a shortage of available properties and rising demand spurred on by lower borrowing costs.
• Some of Australia's priciest and ritsiest suburbs can be found in this region.
• These are Sydney's most expensive neighbourhoods if you're wanting to buy a home in an upscale area.richest suburb (2) Tamarama – $8.12m Tamarama is convenient if you want to live so close to Bondi, however it has relatively few reasonably priced homes available.
• In the wealthy coastal area of Tamarama, close to Bondi, the property market is relatively tight, with only a small number of residences available.
• There was a -6.81% drop in growth here during the past year, which could be linked to the local housing market crash.
• However, it does not appear to have an effect on the high cost of housing in the area, since weekly rents for houses still average $2,150.Darling Point – $7.06m The most expensive neighbourhood in Sydney is located just four kilometres from the city centre and features stunning views of the harbour.
• Darling Point has a typical home price of $7.06 million and a median rent of $2,200 per week.
• Darling Point is the most expensive area in Sydney, with a staggering median sale price exceeding $7.7 million.
• Suburb home prices have increased by 23.33 percent over the past 12 months due to a shortage of available homes.
• With a median transaction price of $2.4 million, Darling Point is home to some of Sydney's priciest real estate.
• The median weekly rent of a house in this area is $2,200, making this one of the most costly in all of Sydney.
• Rent for a typical apartment is $900 weekly.
• Houses in this suburb cost a median of $6.82 million, yet due to their compact nature, they are difficult to come by.
• Centennial Park – $6.5m Located in south-east Sydney, barely four kilometres from Sydney's central business district, is Centennial Park.
• Many Federation or Victorian houses can be seen in the region, much like in Longueville.
• The average cost of a home is around $6.5 million, but buyers have a hard time finding one.
• Prices for condos average $936,000, with weekly rent of $495.Elegant Federation & Victorian residences on spacious blocks may be found in Centennial Park, which is located about four kilometres south-east the Sydney's central business district and is home to the world-famous Centennial Park.
• However, you'll need to move soon if you want to buy a home for the average price of $4.1 million.
• With a median home price of $799,000 and just a median rent of $550 per week, apartments are much more affordable than similar houses.
• Bellevue Hill – $6.4m Bellevue Hill's proximity to the city centre, to excellent public schools, to excellent shopping, to excellent beaches, and to excellent private schools makes it an attractive neighbourhood for wealthy families.
• Sydney's affluent families compete to move into the prestigious Bellevue Hill neighbourhood, known for its beautiful mansions and landscapes.
• The median price of a home within the most expensive version of Sydney is an impressive $6.4 million, while the median price of a unit is only $1.1 million.
• You'd better have some cash on hand if you want to rent a place in Bellevue Hill.
• Median apartment rent is $720 per week, while home rent is $2,200 per week.
• Double Bay – $6.05m Sophisticated and expensive homes may be found in the neighbourhood of Double Bay, which is located on Sydney Harbour.
• Average home price is $6.054.76 million, and the median rent is a staggering $2,000.The median price of an apartment is $1.66 million, and the typical weekly rent is $695.This affluent harborside neighbourhood is known for its luxurious homes and tree-lined streets.
• Vaucluse – $5.82m Vaucluse has breathtaking views of the peninsula and harbour, and is widely recognised as one of the world's most expensive neighbourhoods.
• Vaucluse has an extremely high median home price of $5.825 million.
• Despite a typical weekly rental of $700 and a median sale price of $1.1 million, this market has underperformed the national average by -21.93% over the past year.
• Mosman – $4.56m Mosman is another affluent neighbourhood that is home to both young families & retirees.
• Prices for single-family homes average $4.56 million, while those for condominiums average $1.11 million.
• Mosman is another high-priced Sydney neighbourhood that caters to baby boomers or young families.
• The Northern Beaches area is highly sought after, and its mountainous streets are lined with lavish mansions both new and ancient.
• Mosman, which is home to the world-famous Taronga Zoo, is known for its picturesque harbour vistas, upscale boutiques, and charming cafes.
• Cost of living is high, with the typical home price at $4 million and the average weekly rental at $1,650.Fortunately, it appears like there will be plenty of as $4 million to go around.
• The typical apartment costs $1,000,000, and the rent is $620 per week.
• Dover Heights – $4.87m Dover Heights, like neighbouring Bondi, is a beachside community not far from the city centre and the nearby Dudley Page Reserve.
• It will cost us $4.87 million to buy a home, or $1,975 a month to rent one.
• There is a typical price of $1.66 million for a one bedroom apartment in Dover Heights, with a corresponding median monthly rent of $635.Dover Heights is a highly desirable and family-friendly seaside community, but it will cost you at least $4.1 million to buy a home there or $1,448 per week to rent.
• High-end residences in Dover Heights are often located on large lots and feature stunning panoramas of the city and the sea.
• Condos in Rose Bay cost about $1.38 million to buy and $650 per month to rent.
• Cremorne Point – $4.4 million Cremorne Point, located close to Neutral Bay and the world-famous Taronga Zoo, is the priciest neighbourhood north of the bridge.
• It is approximately six kilometres from Sydney's financial district and boasts a waterfront location with views of the city's famous beaches and harbour.
• Cremorne Point has stunning views of the Bridge and is well-known for its seclusion.
• Cremorne Point homes cost an average of A$4.4 million, while apartments in the area cost an average of A$1.3 million.
• Cremorne Point is a coveted blue chip neighbourhood where residents can enjoy seclusion, stunning harbour views, and proximity to the natural trails of Cremorne Reserve.
• While homes cost on average $4.4 million, apartments run about $1.3 million.
• The median rent is $750, making it more affordable for savvy tenants but still nearly actually increase national average.
• It has more apartments then houses in the region.
• Longueville – $3.9 million Longueville, the lowest priced high-end suburb, is located in the Lower Northern Beaches region, along with St. Leonards and Crows Nest.
• The usual cost of a rental in Longueville is close to A$1,200 per week, while the market price of a home in the area is around A$3.9 million.
• Despite its position at #10 on the list, the phrase "affordable" is not likely to be used to describe this Lower North Shore neighbourhood.
• In Longueville, the typical home costs $3.9 million, while the average rent is $1,200 per week.
• Are Sydney's Most Costly Neighbourhoods Solely In The East?
• Bellevue Hill and Mosman, both also on the pricey end of the spectrum, are known as "mansion suburbs" because of the large number of affluent families that want to keep their money within the family.
• Southeast Sydney is where you will find the majority of the city's posh suburbs.
• Many real estate professionals believe that inheriting a home is the only realistic method to acquire property in the East of Sydney due to the region's exorbitant prices.
• The intangible assets (location and community) are valued twice as highly as the tangible things (buildings and fittings) amongst Sydneysiders when it comes to housing.
• They favour walkable towns more than more mobile lives by a factor of 6 to 1, and they prioritise current livelihoods above long-term price rise by a factor of 2 to 1.More than half of Sydney residents (52%) love or like their neighborhood's stores and cafes, with only 6% expressing indifference.
• More than twice as many people as think they'll see a drop in local amenities over the next 3 years (32%) believe that they'll really increase (16%) instead.
• Three-quarters of Sydney residents are optimistic about the future of the city's infrastructure, transportation, and accessibility, while only fourteen percent are pessimistic.