Australia's most expensive suburb
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Aug 14, 2015
Australia's most expensive suburb
Point Piper in Sydney remains the most expensive area in the nation.
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Image by ledoc via Pixabay
With views of the world's most beautiful harbour, it's no wonder people will pay a fortune to live in Point Piper. The harbourside enclave remains Australia's most expensive suburb, with a median price of $5.6 million, the latest data from CoreLogic RP Data shows. This high media price was helped by the $39.9 million forced sale in May of Villa del Mare, the mansion found to have been illegally acquired by one of China's richest men.
Point Piper also held the record for the most expensive sale price until this month when James Packer sold his Vaucluse mansion La Mer to Chinese billionaire Chau Chak Wing for $70 million. Previously, the record was set by the 2013 sale of Altona, the Point Piper mansion owned by publisher Deke Miskin, for $52 million.
The top ten most expensive subrubs were all in Sydney except for Toorak in Melbourne and Peppermint Grove in Perth.
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