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What are the most expensive suburbs in Australia?

August 26, 2019 10:00 am by Upside

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.

Million-Dollar-Suburbs-graph-0-total-subs
Total number of suburbs in Australia with a median property value of one million dollars or more.

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.

Million-Dollar-Suburbs-graph-1-2m
Number of suburbs in Australia where the median property value is $1-2,000,000.
Million-Dollar-Suburbs-graph-2-3m
Number of suburbs in Australia where the median property value is $2-3,000,000.
Million-Dollar-Suburbs-graph-3-4m
Number of suburbs in Australia where the median property value is $3-4,000,000.
Million-Dollar-Suburbs-graph-4-5m
Number of suburbs in Australia where the median property value is $4-5,000,000.
Million-Dollar-Suburbs-graph-5m+
Number of suburbs in Australia where the median property value exceeds $5,000,000.
Million-Dollar-Suburbs-graph-global
Total number of suburbs in Australia where the median property value exceeds one million dollars.

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