Sydney suburbs crack $2m median

By Gerv Tacadena | 17 Feb 2020

The most expensive apartments across major Australian cities can be found in Sydney's Barangaroo, where the median unit price is close to hitting the $3m mark, according to a study by Knight Frank.

The median price for an apartment in Barangaroo was $2.9m in the third quarter of 2019. It is one of the three suburbs in Sydney where median unit prices are over $2m.

Apartments in Point Piper and Miller Point are also amongst the costliest, with respective median prices of $2.8m and $2.4m.

In Melbourne, Brighton has the highest median unit price at $947,500.

One suburb in Brisbane managed to outpace Brighton in terms of median value. Tennyson dominates Brisbane's luxury apartment market with a median price of $1.05m. The next Brisbane suburb on the list is Seven Hills, which has a median price of $679,900.

Also read: Downsizing Is Out, Rightsizing Is In?

Of all the major cities for luxury apartments, Gold Coast was the most popular spot for homebuyers. The city had the highest portion of apartment sales between $3m and $5m from the third quarter of 2016 to 2019 at 26%. Brisbane followed with 22% and Sydney with 21%.

The table below shows the ten most expensive suburbs for apartments in Sydney, Melbourne, Brisbane, Perth, and Golden Coast:

Most Expensive Prime Unit Markets in Major Australian Cities

(Based on median unit prices)

 

Sydney

Melbourne

Brisbane

Perth

Gold Coast

Barangaroo

$2.9m

Brighton

$947,500

Tennyson

$1.05m

Cottesloe

$775,000

Main Beach

$761,250

Point Piper

$2.8m

Toorak

$929,675

Seven Hills

$679,900

North Beach

$750,000

Paradise Point

$650,000

Millers Point

$2.4m

Balwyn Point

$917,000

Bulimba

$637,000

Mount Pleasant

$697,500

Hollywell

$635,000

Darling Point

$1.9m

Kew East

$915,000

Camp Hill

$632,000

Claremont

$680,000

Burleigh Heads

$610,000

The Rocks

$1.54m

Canterbury

$911,000

Newstead

$629,688

Wembley Downs

$660,000

Benowa

$577,500

Double Bay

$1.32m

Beaumaris

$827,500

New Farm

$604,000

Applecross

$584,000

Broadbeach

$540,000

Kirribilli

$1.318m

Black Rock

$815,000

Bardon

$580,000

Sorrento

$582,500

Broadbeach Waters

$540,000

McMahons Point

$1.315m

Brighton East

$799,500

Teneriffe

$572,500

Booragoon
$572,500

Runaway Bay

$530,000

Cremorne Point

$1.3m

Hampton

$726,250

Kenmore

$567,825

Attadale

$565,000

Miami

$520,000

Milsons Point

$1.29m

Camberwell

$720,000

West End

$564,000

Carine

$519,000

Mermaid Waters

$465,000

Top Suburbs : north lambton , coburg north , tweed heads south , springwood , rockville

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