These are the Most Expensive Suburbs in Australia
Just when we thought property prices had hit an all-time high after the country’s biggest real estate boom over the past few years, it seems we were wrong—very wrong. House prices across Australia have officially hit a record-breaking high with 70% of suburbs nationwide with a median house price now over $1 million.
According to CoreLogic as reported by SmartCompany, the number of million dollar suburbs has increased by 125% over the past three years and more than 600 suburbs across the country now boast $1 million median values. Love renting? We sure hope so.
Interestingly, the residents of New South Wales will take the largest hit with now more than 90% of the country’s most expensive suburbs, with Darling Point topping the list with a median house price of $6.4 million. Still keen to get your foot in the real estate door? Make sure you tick off the ultimate checklist for buying your first property and consider the dos and don’ts of buying your first home. Read on to find out which suburbs are Australia’s most expensive.
Australia’s most expensive suburbs based on median house value:
1. Darling Point, New South Wales: $6.4 million
2. Point Piper, New South Wales: $6 million
3. Centennial Park, New South Wales: $5.9 million
4. Bellevue Hill, New South Wales: $4.5 million
5. Cremorne Point, New South Wales: $4.5 million
6. Potts Point, New South Wales: $4 million
7. Vaucluse, New South Wales: $3.9 million
8. Woolwich, New South Wales: $3.8 million
9. Toorak, Victoria: $3.8 million
10. Tamarama, New South Wales: $3.7 million
For more information on the latest property trends, head to SmartCompany, and shop these personal finance apps and make your real estate dream a reality.