Sydney’s property market continues to fetch impressive prices, particularly in some of the most sought-after areas, despite declines from its peak over the past year.
Sydney’s top 10 expensive suburbs to buy a property in Sydney, according to data from Domain and Realestate.com.au.
1. Tamarama – $9.20m
Only a handful of expensive homes are for sale in Tamarama, close to Bondi.
The median house price is a whopping $9.2 million and the median rent would cost you a hefty $2,300 per week.
Apartments come in at a median price of $2.57 million with a $982 per week rent.
2. Darling Point – $8.88m
The most expensive place to buy a house in Sydney is only four kilometres away from the CBD and comes with picturesque waterfront views.
The median sale price for houses in Darling Point is an astronomical $8.88 million with rent coming in at $2,300 a week.
Even units average $2.45 million and $950 a week.
There hasn’t been much activity in Darling Point’s housing market so there isn’t data for price changes, but prices for units have risen 5.4% over the past 12 months.
3. Bellevue Hill – $8.70m
Families with deep pockets will find Bellevue Hill ideal, close to the best private schools, shops, beaches and the city centre.
You’ll find lavish homes and incredible gardens in the area.
The median house price is $8.70 million, up 14.5% over the past 12 months.
Units average at around $1.60 million, which is a 10.6% increase over the year.
Properties in the area also fetch a decent price for rent – $2,000 per week for houses and $740 per week for units.
4. Vaucluse – $8.67m
A median-priced house in Vaucluse will cost you a whopping $8.67 million and $2,895 in rent.
Units are more affordable in comparison to other expensive suburbs, coming in at around $1.35 million fetching $750 per week in rent.
In the past 12 months, the area has seen a significant jump in prices – houses have risen 13% while units have declined 3.9%.
5. Centennial Park – $7.46m
Median house prices are sitting at around $7.46 million but are hard to secure.
Units are significantly cheaper at around $763,000 (down 12.6% over the year) and $550 for weekly rent.
6. Woolwich – $6.82m
Median house prices are around $6.82 million and given the small suburb size, are hard to find — there is no data for any houses sold this year.
7. Rose Bay – $6.00m
It will cost you around $7.00 million to own a house (up 13.5% over the past 12 months) or $1,925 per week to rent one.
Rose Bay units are also on the expensive side, selling for around $1.65 million (up 14.2%) or rent for $700.
8. Dover Heights – $5.86m
A house will cost you $5.86 million or $2,250 a week in rent.
Apartments in Dover Heights come in at a median of $1.01 million or $802 in rent.
Houses in the area have experienced a 1.9% increase over the past 12 months, whereas unit prices have done the opposite, dropping 53.1% over the same period.
9. Double Bay – $5.37m
Houses come in at an average of $5.37 million, which is a 17.4% decrease year-on-year.
Apartments are much cheaper with an average cost of $1.96 million, which has fallen 2% over the year.
Rental prices in the area are around $2,172 per week for houses and $792 per week for units.
10. Mosman – $4.77m
Houses come at a median price of $4.77 million (down 8% over the year) whereas units sit around $1.22 million (down 0.2%).