7 Most Expensive Suburbs in Australia, No. 1 is a Big Favorite

The landscape of Australia is filled with communities that redefine luxury living, with mansions standing like modern castles and exclusivity as the standard. From Sydney’s eastern coasts to Melbourne’s green settlements, these neighbourhoods have sky-high property values and represent an extravagant and sophisticated lifestyle.

Let’s take a look at the most expensive suburbs in Australia to see what makes them so desirable.

Bellevue Hill, $9.17 million

Bellevue Hill is one of Sydney’s most luxurious neighbourhoods, famed for its stately houses and peaceful, wooded lanes. The neighbourhood has a mix of historic houses and new luxury apartments, attracting wealthy families and professionals seeking an upscale lifestyle.

Its proximity to the Sydney CBD, prestigious institutions such as The Scots College and Cranbrook School, and the commercial areas of Double Bay and Bondi Junction add to its appeal. The suburb’s high property values are due to its ideal location, exclusive schools, and high-end establishments, such as boutique shopping and fine dining.

The limited number of properties in this desirable region drives up demand, making Bellevue Hill one of Sydney’s most expensive neighbourhoods. The median house price in Bellevue Hill is approximately $9.17 million.

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Vaucluse, $9 million

Vaucluse is a harbourside area recognised for its breathtaking ocean scenery and lavish clifftop housing. The neighbourhood features a mix of old mansions and modern real estate, many with exclusive waterfront access. It offers homeowners a peaceful atmosphere while being close to the Bondi and Watsons Bay beaches and Sydney Harbour.

Vaucluse’s high property values comes from its stunning nature, strategic location, and the presence of prestigious schools such as Kambala and Kincoppal-Rose Bay. The median house price in Vaucluse is about $9 million.

Since Vaucluse offers exquisite views of the Sydney Harbour and the Pacific Ocean, with exclusive waterfront properties and a peaceful vibe residential atmosphere, making it highly desirable.

Tamarama, $7.5 million

Tamarama, also referred to as “Glamarama,” is a small, luxurious coastline settlement located between Bondi and Bronte. Tamarama is known for its beautiful beach and calm yet elegant atmosphere, and it provides modern, architect-designed residences with stunning ocean views.

Tamarama’s high property prices are influenced by the exceptional beachside location and limited number of properties, which drives up demand. The suburb’s modern, luxurious houses and proximity to famous beaches make it highly attractive, which boosts up property values. The median house price in Tamarama is approximately $7.5 million.

Toorak, $5.8 million

Toorak is Melbourne’s finest suburb, famed for its enormous estates, tree-lined streets, and exclusive neighbourhood. The neighbourhood has a mix of Victorian and Edwardian mansions, modern architectural marvels, and expensive apartments.

This one of the most expensive suburbs in Australia is home to some of Melbourne’s wealthiest citizens, attracted by prestigious schools like St. Kevin’s College and Loreto Mandeville Hall, as well as high-end retail and dining places.

Toorak’s property prices are influenced by its reputation for luxury, the availability of large estates and historic properties, and its proximity to Melbourne’s CBD. The area is filled with fancy clubs, well-maintained parks, and prestigious schools maintaining high demand and constant property values as it has a median house price of $5.8 million.

Dalkeith, $3.5 million

Dalkeith is a luxurious riverside suburb in Perth known for its luxurious residences and peaceful surroundings. The region includes massive estates, modern homes, and properties with exclusive river access.

Dalkeith area is near top institutions including Christ Church Grammar School and Methodist Ladies’ College, and it has lovely parks, yacht clubs, and golf courses.

Dalkeith’s high property prices are due to its exceptional riverfront location and exclusivity of the community. The availability of massive estates with private river access, excellent schools, and high-end facilities guarantees high demand and property values, making the Dalkeith’s median house price comfortably sits around $3.5 million.

Sandy Bay, $1.35 million

Sandy Bay is a wealthy suburb of Hobart famed for its gorgeous mansions, breathtaking water views, and proximity to the city centre and the University of Tasmania. The region includes a combination of enormous historical estates, new mansions, and luxury apartments with views of the Derwent River.

Sandy Bay’s high property values stem from its exceptional beachfront location, breathtaking water views, and luxurious houses. The presence of prestigious schools and the University of Tasmania, as well as being adjacent to Hobart’s waterfront and cultural attractions, ensures high demand and property values.

Sandy Bay has a median house price of approximately $1.35 million.

Ascot, $1.3 million

Ascot is a prominent Brisbane neighbourhood famed for its heritage mansions, tree lush avenues, and the iconic Eagle Farm Racecourse. Beautiful Queenslander homes, historical estates, and contemporary luxury properties can all be found in the suburb.

Ascot has elite schools such as St. Margaret’s Anglican Girls School, boutique shops, gourmet restaurants, and cafes on Racecourse Road.

Ascot’s high real estate prices are supported by its established reputation, ideal location, and accessibility to top schools and services. The area’s vibrant community atmosphere, along with limited numbers of property availability, drives up demand and property values.

Yet, the property prices slightly lower than the other on this list with the median house price in Ascot is about $1.3 million.

These most expensive suburbs in Australia listed are distinguished by their prime locations, luxurious homes, and proximity to top-tier facilities, services and schools. These areas offer a blend of historic and modern properties, often with stunning views of water or lush landscapes, contributing to their high property values.