Wolseley Road in Point Piper, Sydney, consistently ranks as Australia's most expensive street, known for its stunning harbour views, prestige, and median house prices reaching into the tens of millions (around $45m-$51.5m recently), though other streets in Bellevue Hill and Vaucluse also command extremely high prices, with Sydney dominating the top spots due to proximity to the CBD and water.
Kambala Rd in Sydney's Bellevue Hill in the city's east ranked as the richest road in the country, with a median value of $39.35m over the last three years. This is a modal window.
In the centre of Sydney's east, some of Sydney's most awe-inspiring properties are nestled within Bellevue Hill's green hills. It takes out the title as the most expensive suburb in Australia, and for good reason. A meander through the suburb's spectacular streets says it all.
Toorak – The Undisputed Richest Suburb in Melbourne
From multi-million-dollar mansions to elite private schools and exclusive shopping strips, it has long been regarded as the richest area in Melbourne. Toorak is also home to Australia's wealthiest business leaders, celebrities, and international investors.
Sydney's Pitt Street Mall ranked most expensive shopping strip in Australia.
Singapore is ranked 1st & most expensive while Kuala Lumpur is the least expensive city. Addendum : The finding is based on Mercer's 2020 cost of living surveys among employers & employees/expatriates worldwide. Hong Kong has the highest cost of living while Tunis is the least expensive worldwide.
Point Piper remains Sydney's most expensive suburb, with median house prices above $15 million. The Eastern Suburbs dominate the prestige list, with Bellevue Hill, Darling Point, Vaucluse, Double Bay, Tamarama, Rose Bay, and Dover Heights all in the top 10.
What is the most luxurious place in Australia? The most luxurious place to stay in Australia is widely considered to be Southern Ocean Lodge on Kangaroo Island, South Australia.
Here are the report's top 10 cities with the highest populations of ultra-wealthy people:
1. Sydney, Australia. Sydney, often known as Australia's financial hub, consistently tops the list of the wealthiest cities in the region.
But despite the economic uptick of recent years, Tasmania is still the poorest Australian state.
New York: Scarsdale.
The average Scarsdale home is worth $1.6 million, as of June 2025. It's the wealthiest suburb in America.
Best Places to Live in Australia: The Verdict
St. Georges Road in Toorak holds the record for the highest sale price in Melbourne, with homes regularly selling for tens of millions of dollars. This leafy suburb is lined with historic mansions, modern architectural masterpieces, and some of the most expensive neighbourhoods in the country.
George Street is the oldest street in Sydney, and the oldest street in modern Australia. It runs from Railway Square to The Rocks, beside Sydney Harbour. Originally called the High Street, Governor Lachlan Macquarie renamed it George Street in 1810 after King George III.
The most expensive street in the whole of the UK, Phillimore Gardens is a prestigious street located in the fashionable neighbourhood of Kensington, West London.
New York City, New York
As the country's financial capital, it houses more millionaires and billionaires than any other U.S. city. New York's mix of finance, culture, and global influence keeps it firmly at the top. No other American city matches its scale of wealth or its role as a global financial center.
The richest country by GDP (PPP) per capita is often cited as Singapore, followed closely by Luxembourg, depending on the specific report and year, with Singapore leading in 2025 estimates with around $156,000-$157,000 per person, while Luxembourg is a strong contender just below that, highlighting small, finance-heavy economies as wealthiest per person.
As of 2024, there are 756 billionaires living in 43 of the 50 US states or Washington, D.C. The only states with no billionaire residents are Alaska, Delaware, New Hampshire, New Mexico, North Dakota, and West Virginia.
More billionaires from the list live in the elite Melbourne suburb of Toorak, five kilometres southeast of the CBD, than any other Australian suburbs. Toorak boasts gated cul-de-sacs, privacy hedges, tree-lined streets and 22 of Australia's richest people.
There's no single "nicest" city, as it depends on preference, but Adelaide often wins for happiness and liveability, Melbourne for culture, Sydney for iconic sights, Brisbane for friendliness, Hobart for relaxed charm, and Perth for beautiful beaches and access to nature, with each offering unique vibes from vibrant culture to laid-back living.
Sydney is the most expensive major city in Australia and the most expensive city overall. Townsville is 43% less expensive than Sydney, it is the least expensive city in the country. Insurance and financial services saw the largest increase in average prices from October 2023 to October 2024.
“Wolseley Road is probably considered the most expensive street in the whole of Australia,” says local agent and Highland Property director Bill Malouf.
The least advantaged place in Sydney (for the third census running) is Claymore (2559), which is located in the Campbelltown council area and contains a lot of public housing.
Suburbs set for a boom in 2025, particularly in Australia, are driven by affordability, lifestyle appeal (beaches, cafes), infrastructure (new transport links), and demographic shifts, with hotspots identified in Perth's northern coastal areas (Alkimos, Yanchep), Regional Queensland (Toowoomba), Melbourne's outer areas (Werribee, Keilor East), and Brisbane's growth zones (Springwood, Gold Coast's Coomera), as people seek value and better living environments outside major city centers.