Top ten most expensive suburbs revealed
One city has dominated a list of Australia’s top 10 most expensive suburbs, newly-released figures show.
Sydney's Centennial Park is the most expensive suburb in Australia, with a median house value of $6,295,973, in the year to December 2015, according to CoreLogic RP Data.
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Point Piper finished second with a median value of $5,898,542, followed by Darling Point ($5,820,051), Vaucluse ($4,375,781), Bellevue Hill ($4,346,180), Tamarama ($3,762,594), and Dover Heights ($3,594,684).
Peppermint Grove in Perth was the only suburb outside Sydney to rank in the top 10 list for houses, with a median value of $3,564,725.
The top 10 was rounded out by Sydney’s Double Bay ($3,323,665) and Whale Beach ($3,307, 451).
The top 10 most expensive suburbs for units were all located in Sydney, with Point Piper ranked number one, with a median value of $2,219,503.
Darling Point was second with a median value of $1,665,104, followed by The Rocks ($1,664,513), Cabarita ($1,515,092), Millers Point ($1,479,816), Cremorne Point ($1,299,864), Huntleys Cove ($1,281,955), Balmain East ($1,252,908), Tamarama ($1,232,265) and North Ryde ($1,222,875).
The data also showed that nationally, a total of 503 suburbs held a median value above $1 million at the end of 2015 – up 31 per cent on the 12 months prior.
“There was a time when housing that cost more than $1 million was seen as exclusive,” CoreLogic RP Data research analyst Cameron Kusher said.
“However, with recent increases in home values, suburbs with a typical home value of more than $1 million are becoming more common.”
Read more:
Are property prices really going to drop by 50%?
Changes to haul property management into 21st century
'Increasing risk' in property market
How to evict your tenants
My sink-or-swim investment strategy