Where are Sydney's priciest suburbs?
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Nov 14, 2018
Where are Sydney's priciest suburbs?
The Harbour City is home to some of the country's most expensive real estate, but where are Sydney's most expensive suburbs?
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Laing & Simmons Double BayPictured: 2 Ginahgulla Road, Bellevue Hill. Sold by Bart Doff of Laing & Simmons Double Bay, as seen on Luxury List.
Vaucluse topped the list of the most expensive established suburbs in Sydney with a median sold price of $5.5 million, followed by Bellevue Hill at $5.4 million and Rose Bay at $3.8 million.
Sydney’s most expensive neighbourhoods range in price from $5.5 million – $3.7 million, CoreLogic data shows.
So what attracts buyers to these upmarket neighbourhoods?
Vaucluse
This well-heeled suburb, just eight kilometres from the CBD, has long been home to some of the city's most prestige properties, boasting stunning gardens and picturesque harbour views that command that $5.5 million price tag.
James Nixon of Belle Property Double Bay, says a lack of stock in Sydney's eastern suburbs continues to drive prices higher and generate strong interest when good properties come to market.
"There has been a trend of buyers snapping up properties before auction in the eastern suburbs, Mr Nixon told WILLIAMS MEDIA.
"Buyers are being aggressive wanting to secure (a property) before auction."
Local agent Danny Doff of Laing & Simmons Double Bay says Chinese buyers tend to snap up property in these areas.
"The average time a property hits the market has increased from seven to eight years - now it's somewhere above 10. The Chinese don’t tend to sell property and they have bought up a lot of properties especially ones with really good views," Mr Doff told WILLIAMS MEDIA.
Pictured: 39 Wentworth Road, Vaucluse. For sale by Danny Doff of Laing & Simmons. As seen on Luxury List.
Bellevue Hill
With its leafy tree-lined streets and proximity to some of the best beaches Sydney has to offer, Bellevue Hill is packed with luxury villas and historic homes.
Local agent Bart Doff of Laing & Simmons Double Bay says it's a highly sought after suburb.
"The press has been talking about declining prices, but this area, in particular, hasn't seen a decline. It's probably more highly sought after than Vaucluse. In the last twenty years, traffic has become unbearable in the eastern suburbs, it can take more than 15 - 20 minutes to get through school traffic, so Bellevue Hill is a very desired spot," Mr Doff told WILLIAMS MEDIA.
Pictured: 2 Ginahgulla Road, Bellevue Hill. Sold by Bart Doff of Laing & Simmons Double Bay, as seen on Luxury List.
Rose Bay
A mere seven kilometres from the heart of Sydney, Rose Bay is filled with older residents and reigns supreme as a popular spot to live - if you're a baller.
Local agent D'Leanne Lewis of Laing+Simmons Bondi Beach says residences here are always in hot demand.
"A number of recent sales highlight the demand for quality residences that combine a prime location with the Eastern Suburbs lifestyle," Ms Lewis told WILLIAMS MEDIA.
Pictured: 871 New South Head Road, Rose Bay. For sale by David Malouf of LJ Hooker, as seen on Luxury List.
Mosman
The hilly streets of this upmarket 'burb are lined with historic abodes and fancy new builds. Popular with baby boomers, Balmoral Beach is right on your doorstep.
Median prices for homes in this exxy suburb sit around the $3.8 million mark.
Local agent Dion Markovics of Raine & Horne Double Bay predicts the market will remain stable.
"The area has seen substantial growth in the last five years and I believe it will stay about the same, despite media reports indicating that the market is set to drop," Mr Markovics told WILLIAMS MEDIA.
Pictured: 30 Kirkoswald Avenue & 1a Hopetoun Avenue, Mosman. For sale by Stephen Patrick of R&W, as seen on Luxury List.
Palm Beach
With median property prices sitting at $3.7 million according to CoreLogic data, Palm Beach is a hot market for the elderly generation.
Elderly couples, singles, and established families flock to the area for the laid-back lifestyle.
Local agent Michael King of LJ Hooker Palm Beach says almost every home has an ocean view.
Ken Jacobs of Christie's International Real Estate says only a handful of properties come onto the market.
"It is crazy when you get buyers wanting to spend $20 million and you really can’t satisfy them with a variety of stock!” he told WILLIAMS MEDIA.
Pictured: 40 Ocean Road, Palm Beach. Sold by Ken Jacobs and Carys Adams as seen on Luxury List.
CoreLogic's most expensive suburbs in Sydney (based on median value)
- Vaucluse ($5,529,148)
- Bellevue Hill ($5,472,681)
- Rose Bay ($3,892,373)
- Mosman ($3,821,639)
- Palm Beach ($3,787,529)
Related reading:
Sydney’s most expensive rental suburbs: Bellevue Hill tops list at $2,695 a week to rent a house
$100 million sale of Fairwater, Australia’s most expensive home
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