These Are the Most Expensive Suburbs in Each Australian State and Territory

The most expensive home ever sold in Australia was purchased in Sydney (where else) for $140 million. The 1600m2 two storey penthouse apartment sits atop the highest of three towers in the exclusive One Sydney Harbour development, with an eye-watering cost per square metre of more than $100,000.

To celebrate the landmark sale of this amazing property, we’ve taken a closer look at Australia’s most expensive suburbs to see how the other half live.

7. Sandy Bay, Tasmania

Average Price: $980,000

Sandy Bay offers all the amenities of inner city living in Hobart without the traffic jams and noise. It’s situated along the coast just south of Hobart Central, and is home to countless large family homes, many of which boast panoramic views over the harbour.

6. Ascot, Brisbane

Average Price: $1,639,995

Ascot is the classic affluent Australian suburb. Think tree-lined streets, a short commute to town, trendy eateries and bars, and an upmarket retail district. It’s one of the older, better preserved suburbs in the city, so there are plenty of historic villas with shady verandahs and period features like stained glass windows.

5. Medindle, Adelaide

Average Price: $1,745,852

Medindle is the most exclusive and tightly held suburb in Adelaide, and with good reason. It’s south border runs along the Adelaide Park Lands, minutes away from the CBD and walking distance to the North Adelaide shops. If you can afford it, Medindle is known as a superb lifestyle suburb, with many luxurious homes, views over the Adelaide Hills and a tranquil, relaxed atmosphere.

4. Dalkeith, Perth

Average Price: $2,728,914

Dalkeith is located a short commute south west of the Perth CBD, on a small peninsular with views over the picturesque Swan River. It’s home to some of the State’s best public schools, several acres of parkland and an exclusive retail zone. Locals love it for its proximity to the city and beaches, as well as its safe, family orientated appeal.

3. Forrest, Canberra

Average Price: $3,026,397

Forrest is a park-like suburb directly south of the State Circle and Capital Hill. It features wide streets, charming period homes, easy access to the city and a quiet, almost rural atmosphere despite its central location.

2. Toorak, Melbourne

Average Price: $4,851,242

Home to Melbourne’s politicians, sports stars and the celebrity elite, Toorak is one of the most luxurious and expensive suburbs in the country – and is the wealthiest by taxable income. Its main street is home to countless classy restaurants, cafes and bars, all walking distance from oversized mansions, designer apartments and immaculately preserved terraced homes.

Toorak is also within close proximity of Melbourne CBD and has excellent transport links, although most of its residents commute in Porsche Cayennes, Range Rovers and Mercedes G Wagons (otherwise known as Toorak Tractors).

1. Point Piper, Sydney

Average Price: $9,705,113

Point Piper is Australia’s most expensive suburb. Located 6km east of Sydney’s CBD on a small peninsular overlooking the harbour, this suburb is home to 1,401 of Australia’s wealthiest people who flock to the area for its pristine beaches, luxurious homes and exclusivity.

One of the area’s most desired locales, Wolsely Road, was once named by Forbes as the ninth most expensive street in the world.

So, if you’d like to live in one of these suburbs, your bank account better have plenty of zeros!