Sydney's Point Piper 'Australia's priciest suburb'

Wednesday 16 November 2011

Article by Mozo

Home loan customers may be interested to learn that the most expensive suburb in the country is Sydney's Point Piper, where the median property price is $8.25 million.

Sydney 'has country's most expensive suburb'

It has just 11 streets, yet the average cost of purchasing a home in the area is twice that of the second priciest spot, according to figures compiled by RP Data.

Sydney dominated the list of the most expensive locations, taking six of the top ten – twice the number held by Perth.

The latter city's Peppermint Grove was the second most expensive place to live, with the median property price registered at $3.79 million.

Across capital cities in the country this year, residential real estates fell by 3.4 per cent, the figures revealed.

According to last month's RP Data-Rismark hedonic indices, the value of residences in Sydney rose over the year leading up to October 2011, bucking the trend seen in other capital cities.

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