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Top 10 most expensive suburbs in Sydney 2022

May 29, 2023
Samantha Thorne

Home to the iconic Opera House and Harbour Bridge, Sydney has some of the most luxurious and exorbitant living you can find in Australia. For those with deep pockets — or simply an inquisitive mind — you might be wondering where the most expensive suburbs in Sydney are and what the price tag looks like.

Coastal views and exclusive enclaves come at a cost. But, it's not all surf, sand, wining and dining. These hotly desired 'burbs are close to top-tier amenities — from the best private schools in the city to expansive parks, prime boutique shopping and more.

Without further ado, here are the top ten most expensive suburbs to buy in Sydney. All data is sourced from Your Investment Property Mag.

1. Darling Point — $10,350,000

Darling Point houses
View of the Sydney Harbour from Darling Point | Source: realestateVIEW

Darling Point is known as one of the city’s most expensive places to live, with an eye-watering median sale price of $10.35 million.Just four kilometres from the CBD, it's not too unbelievable when you consider the stunning waterfront views of the Sydney Harbour Bridge and picturesque leafy streets lined with glamorous homes and apartments.

The lack of housing stock is driving prices higher with the suburb experiencing a 21.05% quarterly growth compared to the same period three months ago. Nabbing a house is tough work in these conditions, when only about 12% of the market is taken up by houses, and freestanding townhouses or terraces.

Some of the most expensive apartments in the city can be found in Darling Point and the median sale price is an astonishing $3.05 million. It's also one of the most expensive suburbs to rent in Sydney for houses with a weekly median rent of $4,500. Apartments average $900 per week.

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2. Bellevue Hill — $8,750,000

Well-heeled families of Sydney clamber to join the exclusive Bellevue Hill's postcode, an enclave dripping with grandiose homes and gardens. Living in the most expensive area in Sydney comes with a hefty price tag and the median sits at an eye-watering $8.75 million, whereas units average $1.637 million.

If you would like to rent a home in Bellevue Hill, get your money bags ready. The median weekly rent is $2,000 and $725 for a house and apartment respectively. Close to shops, beaches, the city centre and the best private schools, it's easy to see why it's so popular.

3. Vaucluse — $9,000,000

Fancy a trophy home in the coastal haven of Vaucluse? A cool $9 million will do it — that's the median house price. With stunning peninsula and harbour views, lavish heritage architecture and picture-perfect harbour beaches there is much to soak up in this affluent area, which is also home to the country's oldest lighthouse — the Macquarie Lighthouse.

As far as pricey suburbs in Sydney go, Vaucluse has seen a 32.35% rise in annual growth and median rents are at $2,890 per week for a house. The average sale price for a unit is $1.377 million with a median weekly rent of $725.

4. Tamarama — $9,200,000

richest suburbs in Sydney
Ocean views and cliff faces make living in Tamarama breathtaking and idyllic | Source: iStock.

A stone's throw from Bondi, the affluent beachside suburb of Tamarama has a pretty tight housing market with only a select few homes up for grabs. For interested parties, the median house price is $9.2 million, with quarterly growth of 19.46%.

Primarily an apartment market, Tamarama — otherwise known as 'Glamarama' — is a mix of modern and art deco buildings that compete for waterfront and cliff views, and charge apartment tenants a median asking rent of $1000 per week. Here, the median apartment price is $1.758 million and has dropped -13.77% in the last year.

House rentals don't seem affected by this though, as they remain some of the most expensive in the country at $2,150 per week.

5. Double Bay — $6,375,000

This prosperous harbourside suburb boasts prestige properties on leafy, tree-lined boulevards. Known for its boutique shopping and elegant cafes, Double Bay offers lavish and relaxed lifestyle qualities in spades.

The suburb is well situated and has a reputation for commanding the finer things in life, which influences that $6.375 million price tag. The median weekly rent for houses is $1,800, and apartments have an average median price point of $2.105 million and a median weekly rent of $790.

6. Cremorne Point — $5,648,500

Across the harbour and close to the Taronga Zoo sits the quiet and picturesque peninsula of Cremorne Point. A tightly-held blue chip suburb, properties in Cremorne Point offer privacy along with breathtaking harbour vistas and access to the scenic pathways of Cremorne Reserve.

The median house price is +$5.6 million and units currently average around $2.05 million; you are definitely paying for the harbourside locale, and no doubt, the views.

The median weekly rent for a house is $1500, while the weekly median rent for an apartment is $740.

7. Centennial Park — $5,010,000

Centennial Parklands
Residents living in the famed Centennial Park area are a mere door step away from all the lush beauty that the Parklands has to offer | Source: Centennial Parklands

Just four kilometres south-east of the Sydney CBD, Centennial Park's elegant Federation and Victorian homes are situated on large blocks and are close to all the best amenities along with the famed Centennial Park.

Although house prices average $5.010 million, you would have to act quickly to secure one on the market, as houses in this suburb are not only few and far between, they are also tightly-held. In some ways, you should also take that median house price with a grain of salt, as it can be difficult to give a median price when so few houses are sold. 

Units offer a lot more affordability with a median price of $860,000 and a median weekly rent of $538, which is quite affordable compared to the surrounding areas of Darlinghurst, Surry Hills, Paddington and Woollahra. 

8. Dover Heights — $6,500,000

To live in the family-friendly and sought-after coastal suburb of Dover Heights, you will need at least a cool $6.5 mill — or you can fork out $2,000 per week in rent. For apartment lovers, $700 per week in rent or $1.827 million will do the trick if you’re in the market to purchase.

Dover Heights' high-end homes are set on ample-sized blocks and offer exquisite city and coastal views. There's also close proximity to the beach, Dudley Page Reserve and the hub of Bondi. It's the perfect mix of everything Sydney.

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9. Mosman — $5,250,000

Another affluent area popular with baby boomers and young families to add to the list of expensive suburbs in Sydney is Mosman. Situated in the hotly-desired Lower North Shore, the hilly streets are filled with extravagant homes both modern and old, but all luxurious.

Host to the famous Taronga Zoo, Mosman offers perfect harbour views and boutique shopping, fine cafes and the allure of coastal living. The average weekly rent you'll pay to enjoy the lifestyle sits at $1,875 for a house, while to buy a house you’d be forking out around $5.25 million. Unit prices are a tidy $1.310 million, while renting will set you back around $600 per week. 

10. Longueville — $6,400,000

A house-haven popular with families and just eight kilometres from the CBD, Longueville is mostly made up of stunning Federation, Victorian and Californian bungalow style houses giving it much charm and appeal. Situated in the Lower North Shore, even though it's number ten on the list, don't expect the word 'affordable' to be bandied around!

House prices average $6.4 million in Longueville, and the median weekly rent for a house is $2,225. This area is well-suited to quiet family living in a natural and beautiful setting.

Blogs are written expressly for education purposes and content is based on the opinions of the authors or as otherwise cited. All information is current as at publication release and we take no responsibility for any factors that may change thereafter. Doorsteps Finance Pty Ltd and Doorsteps Solutions Pty Ltd do not accept any liability or responsibility whatsoever to any error or omission or any loss or damage of any kind sustained by a person or entity arising from the use of this information. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.

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Disclaimer: Property reports contain property estimate data and information provided by RP Data Pty Ltd trading as CoreLogic Asia Pacific ABN 57 087 759 171 (CoreLogic) and OpenAgent Pty Ltd, which is general in nature. It is not a professional property valuation or advice to be relied upon. The actual market value of the subject property may differ. We and CoreLogic do not warrant the accuracy, currency or completeness of the data and information to the full extent permitted by law, each excludes all loss or damage howsoever arising (including through negligence) in connection with the information. You rely on the property estimate at your own risk.

Disclaimer: Doorsteps Finance Pty Ltd ACN 648 541 879 (credit representative no.531036) is authorised under Doorsteps Solutions Pty Ltd ACN 654 334 246, Australian Credit Licence 537369. Any credit application made through Doorsteps Finance Pty Ltd is subject to approval, terms and conditions, fees and charges.

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