There’s no doubt about it: Australia has some incredibly beautiful places to live. But which areas take the cake when it comes to the most expensive suburbs in Australia?
Below, we’ve created a guide to the most sought-after – and most expensive – suburbs to buy property in across Australia’s capital cities.
Most expensive suburbs in Sydney
Of all the capital cities, Sydney has the highest number of areas with a median property value of one million dollars or more. 343 of Sydney’s suburbs exceed the one-million mark. It also breaks the mould as the only region in Australia with a median suburb property value of five million or more.
There are nine Sydney suburbs that exceed the five-million mark: Point Piper, Elizabeth Bay, Centennial Park, Potts Point, Woolwich, Darling Point, Huntleys Point, Bellevue Hill and Vaucluse. Sydney also has ten times the amount of million-dollar suburbs than Adelaide and Brisbane and over three times as many as Melbourne.
| SUBURB | MEDIAN HOUSE PRICE |
|---|---|
| Point Piper | $9,705,113 |
| Elizabeth Bay | $7,247,284 |
| Centennial Park | $6,722,650 |
| Potts Point | $5,918,432 |
| Woolwich | $5,857,121 |
| Darling Point | $5,780,958 |
| Huntleys Point | $5,586,511 |
| Bellevue Hill | $5,386,123 |
| Vaucluse | $5,230,099 |
| Duffys Forest | $4,888,479 |
RELATED: Best suburbs in Sydney for schools
Most expensive suburbs in Melbourne
The highest median price in Melbourne is $4,851,242 and is located in Toorak. Sydney is no longer the only expensive city in Australia, as you can find expensive suburbs in Melbourne as well. It is the only Australian city with a suburb median value over three million dollars, with four suburbs exceeding this mark (Toorak, Deepdene, Canterbury, and Kooyong).
| SUBURB | MEDIAN HOUSE PRICE |
|---|---|
| Toorak | $4,851,242 |
| Kooyong | $3,770,839 |
| Canterbury | $3,169,419 |
| Deepdene | $3,097,472 |
| Balwyn | $2,640,650 |
| East Melbourne | $2,586,191 |
| Middle Park | $2,511,845 |
| Malvern | $2,492,376 |
| Brighton | $2,482,839 |
| Kew | $2,373,893 |
RELATED: Attention parents: These are the best Melbourne suburbs for schools
Most expensive suburbs in Perth
Perth comes in third on the list of highest number of suburbs exceeding the one million dollar median value mark. The most affluent towns in this area are Cottesloe and Dalkeith, which are both within the two to three million dollar bracket.
| SUBURB | MEDIAN HOUSE PRICE |
|---|---|
| Dalkeith | $2,728,914 |
| Cottesloe | $2,308,698 |
| City Beach | $1,941,264 |
| Swanbourne | $1,591,145 |
| Applecross | $1,583,735 |
| Nedlands | $1,557,961 |
| West Swan | $1,459,412 |
| Mosman Park | $1,260,587 |
| Churchlands | $1,259,589 |
| Floreat | $1,214,905 |
Most expensive suburbs in Brisbane
Inner-north hotspot Ascot is Brisbane’s most expensive suburb, with median house prices hovering just under the $1.7-million mark. A cluster of inner-city suburbs including New Farm, Auchenflower and Fortitude Valley also take some of the top spots for Brisbane’s most expensive suburbs.
| SUBURB | MEDIAN HOUSE PRICE |
|---|---|
| Ascot | $1,639,995 |
| Hamilton | $1,417,327 |
| New Farm | $1,407,876 |
| Chandler | $1,336,866 |
| Willawong | $1,224,624 |
| Bullimba | $1,199,385 |
| St Lucia | $1,197,301 |
| Clayfield | $1,140,050 |
| Auchenflower | $1,106,010 |
| Burbank | $1,113,467 |
Most expensive suburbs in Adelaide
Unsurprisingly, suburbs on the picturesque eastern fringe of the city, such as Toorak Gardens, Rose Park and Leabrook, command some of the highest house prices in Adelaide. However, Medindie in Adelaide’s north takes the top spot, with house prices averaging just over $1.7 million.
| SUBURB | MEDIAN HOUSE PRICE |
|---|---|
| Medindie | $1,745,582 |
| Springfield | $1,570,143 |
| Leabrook | $1,444,345 |
| Toorak Gardens | $1,441,448 |
| Rose Park | $1,410,226 |
| Unley Park | $1,405,360 |
| Malvern | $1,277,953 |
| College Park | $1,235,407 |
| Tennyson | $1,125,125 |
| Walkerville | $1,115,825 |
Most expensive suburbs in Canberra
Forrest – with a median house price now sitting just over $3 million – is the epicentre of Canberra’s most expensive property. Nearby Griffith, Red Hill and O’Malley are amongst some of the city’s priciest suburbs, with average house values just under $2 million.
| SUBURB | MEDIAN HOUSE PRICE |
|---|---|
| Forrest | $3,026,397 |
| O’Malley | $1,866,729 |
| Griffith | $1,864,975 |
| Red Hill | $1,780,858 |
| Reid | $1,704,204 |
| Barton | $1,562,613 |
| Yarralmula | $1,442,502 |
| Deakin | $1,364,462 |
| Campbell | $1,302,630 |
RELATED: What does the median house price really mean?
Introducing Upside’s million-dollar suburbs map!
Upside has created a new interactive data map to make finding the best places to invest in Australia an absolute breeze - found at the top of this page.
From affluent suburbs to million dollar properties, this user-friendly map identifies the areas across Australia with the highest housing prices. By revealing the wealthy towns and suburbs with a median property value of one million dollars or more, this tool can help you figure out how much homes in your suburb are worth.
Whether you’re planning on selling your house or just curious about Australia’s most expensive towns and affluent cities, this unique and interactive service from Upside can give you all the information you need. It’s also the perfect tool to help you find the best areas to expand your property portfolio or purchase your next family home.
Which suburbs in Australia have a median property value over $1 million?
As you can see from the graphs below, 519 suburbs across Australia exceed the median value of one million dollars with the majority located in Melbourne and Sydney.
- What is the stauts of the Australian property market?
- The top 10 richest suburbs of Melbourne and Sydney
- Introducing Upside Buyer Advantage
Wondering how the changing Australian property market could be affecting the price of your home? Get started with a free online property report from Upside to find out the current estimated value of your property.