Australia's most expensive suburbs revealed

By Staff Reporter

New data has revealed the most expensive suburbs in Australia, with one city outperforming its nearest rival by more than $3 million.

Figures recently released by CoreLogic RP Data show that Sydney's most expensive suburbs continue to perform well above those of other capital cities. 

The information released was based on the median house values of the suburbs in each state that had at least 10 sales over the 12 months to January 2016.

Sydney suburb Darling Point came out on top with a median house value of $6,841,364 – more than twice the highest median house value of the state with the second-most expensive suburb.

Blue-chip suburb Point Piper was listed as having the highest median unit value in New South Wales, $2,401,415.

Western Australia took out the runner-up position for the most expensive houses, with Peppermint Grove claiming the state's highest median house value at $3,333,093. WA's highest median unit value was listed as $859,442 in North Fremantle.

Victoria came in at third place with a highest median house value of $3,286,485 in Toorak. Kooyong claimed the highest unit value, just under the $1 million mark at $958,364.

South Australia followed with a highest median house value of $2,111,236 in Adelaide suburb College Park. EastwoodEastwood, SA Eastwood, NSW took out most expensive units in SA with a median value of $558,177.

Forrest took the spot for most expensive houses in the ACT with a median value of $1,900,930. Canberra’s Yarralumla had the most expensive units in the ACT with a median value of $841,922.

Queensland’s Teneriffe saw median house values at $1,679,321. TennysonTennyson, QLD Tennyson, SA topped the list for units with median values at $1,033,864 – making Brisbane the only city aside from Sydney with a suburb recording a median unit value over the $1 million mark.

In the Northern Territory, Darwin’s Larrakeyah recorded median a house value of $1,234,044. Nearby suburb BayviewBayview, NSW Bayview, NT saw a median unit value of $692,069.

Tasmania was the only state on the list with highest median house values below $1 million. Hobart suburb Battery Point topped the list for both houses and units, with a median house value of $836,175 and a median unit value of $530,822.

Australia's most expensive suburbs revealed
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