Sydney has long been known for having some of the most expensive areas in the country, with several enclaves demanding top money for a pile of bricks. Even though Melbourne is gradually catching up to its northern counterpart in population, nine of Australia’s ten most expensive suburbs are located in Harbour City. Over the last few months, property values have risen even more, with Sydney currently experiencing yet another property boom, with the top end of the market-leading the charge.
These are Sydney’s seven most expensive areas right now, along with an overview of what makes them tick.
1. Darling Point
This could be one of the world’s most visually stunning sites. Darling Point is only four kilometers from the city, and it is on a prime harbourside site to the east, with impressive and jaw-dropping views of the ocean, the Harbour Bridge, and the Sydney skyline.
It also has some genuinely magnificent real estate, such as huge manors that are well worth their expensive asking costs. The typical price may be $7 million, but the homes that come on the market frequently sell considerably more. They are also incredibly uncommon and are usually sold off-market. A wonderfully positioned unit with great views is more likely to be bought up by buyers, but they aren’t cheap.
But, with everything you need within walking distance and an unbeatable view, it’s no surprise that the who’s who are prepared to pay top dollar for a piece of this paradise.
- Median house price: $7.07 million
- Average weekly house rent: $2200
- Median unit price: $2.2 million
- Average weekly unit rent: $850
2. Bellevue Hill
If you ever have a free day, take a nice long trip through the streets of this lovely suburb to marvel at the unique architecture. You have your significant ancient masterpieces, which have been carefully preserved for decades. There are Art Deco delights, including beautiful boutique apartment towers. There are many more modern mansions that have been on the covers of design magazines.
The well-heeled and well-off life here, sandwiched between the beaches to the east and the metropolis to the west and bordered by ultra-exclusive enclaves like Point Piper and Rose Bay. Because of the abundance of natural beauty in countless parks and gardens, the lifestyle here is relaxed. There are a few nice little cafes and delis, but that’s about it; the hustle and bustle of the surrounding suburbs are kept at arm’s length, making this a very peaceful pocket.
- Median house price: $6.7 million
- Average weekly house rent: $2200
- Median unit price: $1.36 million
- Average weekly unit rent: $650
One of the most well-known premium suburbs in the country is Vaucluse. This eastern peninsula paradise is home to the rich, famous, well-connected, and magnificent mansions and manors that command top money. It is like stepping into an architectural magazine as you make your way through the winding tree-lined lanes. Vaucluse is not just exclusive but also beautiful. There are numerous beaches in the region, and the views of the Harbour and skyline are genuinely breathtaking.
There is also an affordable apartment market, making it possible to call this part of Sydney home without spending lots of money on the house.
- Median house price: $6.45 million
- Average weekly house rent: $2495
- Median unit price: $1.3 million
- Average weekly unit rent: $683
4. Double Pay
Locals in Sydney jokingly refer to this area as Double Pay since you will typically spend much more here than you would elsewhere on just about anything. The residents are wealthy, and they like to show it by dressing up and shopping at local luxury boutiques or relaxing with an overpriced coffee or a drink of French champagne at a trendy bar.
Residents are a little older here, but the magnificent Art Deco blocks of flats have always attracted a well-heeled younger set. Thanks to a slew of boutique constructions of townhomes and larger apartments, as well as a flourishing restaurant and bar scene, have made this suburb more attractive and popular. The glamour isn’t limited to the surface. This sparkling jewel in Sydney’s crown offers sprawling parks, stunning beaches, a renowned Harbour pool, extensive water views, and tree-lined streets.
- Median house price: $6 million
- Average weekly house rent: $2000
- Median unit price: $1.65 million
- Average weekly unit rent: $720
5. Centennial Park
This lovely suburb is more garden than a suburb, with three vast parks Centennial Park, Moore Park, and Queens Park, to explore. Despite being only four kilometers from the CBD, you would have no idea you are still in a city with a population of several million people, and it’s calm and relaxing.
However, Sydney’s active residents will find plenty to keep them busy, from walking and running trails to sport and recreation facilities. Whether you like to dawdle, paddle, tackle, bike, or stroll, there’s something for everyone.
When the residential section of the region began to take shape, strict architectural guidelines were implemented to guarantee that new homes would not clash with the beautiful park scape. As a result, the buildings here are enormous Victorian and Federation-era beauties made of stone, brick, tile, and slate.
- Median house price: $7.38 million
- Median unit price: $902,000
- Average weekly unit rent: $475
6. Cremorne Point
Cremorne Point is a peaceful and attractive peninsula located across the harbor from the Taronga Zoo. Cremorne Point is a tightly held blue-chip suburb that offers privacy and stunning harbor views, and access to Cremorne Reserve’s scenic pathways.
The median house price is $4.4 million, although the average unit price is $1.3 million. More apartments in the region than houses, and the median weekly rent is approximately $750.
- Median house price: $3.86 million
- Average weekly house rent: $1200
- Median unit price: $1.28 million
- Average weekly unit rent: $590
7. Dover Heights
You will need at least $5.41 million or $2,200 a week in rent to reside in the family-friendly and sought-after coastal community of Dover Heights. $600 per week in rent or $1.4 million will be enough for apartment lovers.
The high-end residences in Dover Heights are situated on large lots with spectacular city and sea views. The beach, Dudley Page Reserve, and Bondi’s hub are all within walking distance, and it’s the excellent combination of all Sydney has to offer!
- Median house price: $5.41 million
- Average weekly house rent: $2,200
- Median unit price: $1.4 million
- Average weekly unit rent: $600