Sydney experiences massive growth of suburbs with a median apartment price of $1 million or more

By |
The number of Sydney suburbs with a median apartment price of $1 million or more has almost doubled in the last year.

New figures from Domain Group show that 16 of the 17 Australian suburbs where median apartment prices are at least $1 million are located in Sydney.

That figure is a dramatic 77.7% increase on last year’s numbers when Sydney only had nine suburbs with a median unit price of $1 million or more.

The only suburb outside of Sydney to crack the list is Melbourne’s Balwyn North, which took the final place of the list with a median price of $1 million.

Domain Group senior economist Andrew Wilson said the figures show that buyers of prestige property in Sydney are becoming more active, with many big-spenders looking to downsize from houses to apartments.

“When you're talking about a million-dollar apartment median that's a prestige story, a higher-priced apartment is definitively a discretionary purchase,” Dr Wilson told Fairfax Media.

“The trend has been rising, especially over the past 18 months.”

Point Piper tops the list, with a median price of $1,615,000 for its apartments, while Milsons Point and Darling Point follow with medians of $1.6 million and $1,525,000 respectively.

Two more points, Millers Point and Darling Cremorne Point round out the top five with at $1,350,000 and $1,265,000 respectively.

The remaining 11 Sydeney suburbs on the list have median apartment prices that fall between $1,252,000 and $1,010,000.


Do you have more than $120k in your super fund? You could use your super to buy property - Find out how

Top Suburbs : sth toowoomba , lockridge , coorparoo , west wodonga , emerald

go back

Get help financing your investment

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here