Bellevue Hill — $8,750,000 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.
1. 2028: Double Bay (NSW) And coming in at the top of the list is (surprise surprise) another suburb in Sydney's east: Double Bay. The suburb of 3352 taxpayers has an average taxable income of a whopping $266,381 – almost four times as much as the national average.
According to a Domain study, the top 5 most livable suburbs in this area are Woolooware, Kareela, Cronulla, Sutherland and Woronora. Affordability is a big attraction in the area. Homes in St George, especially those on the Georges River, rival water views of more expensive suburbs like Mosman and Balmoral.
In the first place, as Sydney's most expensive property sold in the 2022/23 financial year, was on 29 Wentworth Street in Point Piper – also known as UIG Lodge. The waterfront mansion sold for an astonishing $130 million in December last year in what was the biggest record-smashing sale since 2018.
Introducing Sydney's most expensive street
Sydney's most expensive street is none other than Wolseley Road in Point Piper. That's what makes Point Piper the most expensive suburb in Sydney as well as the most expensive suburb in Australia!
Every state capital has its own alpha row where oversized homes command sky-high prices and ultra-luxurious living, often shielded from the eyes of curious onlookers. In Sydney, it's Wolseley Road in Point Piper.
These suburbs would join western suburbs that have already reached this milestone, such as Castle Hill, Bella Vista, Dural, Beaumont Hills, Cherrybrook, Glenhaven and Kenthurst. The median dwelling price in Kellyville, based on sales of both units and houses, would hit $2m by 2028.
Loyola, Los Altos, California
The richest neighborhood in America is Loyola, California. The average household income in Loyola is $326,069, with the median income a little lower at $246,563. The median listing price is $3,899,000. Loyola also borders Los Altos Hills, which is one of the richest towns in America.
The Australian Taxation Office (ATO) analysed the tax returns of more than 15 million Aussies from the 2020-21 financial year to come up with the rich list. Double Bay took out the top spot, living up to its 'Double Pay' nickname, with residents of the 2028 postcode raking in an average annual income of $266,381.
Sydney is the only Australian city that made it to the top 10. 126,900 resident millionaires, 184 centi-millionaires, and 15 billionaires live in it. Bellevue Hill, Darling Point, Mosman, Point Piper, and Vaucluse are some of the world's most exclusive residential suburbs, all belonging to Sydney.
Roseville, Mosman and Mount Kuring-Gai were top of the list.
What are the poorest suburbs in Sydney? As per the Australian Taxation Office, there are many disadvantaged areas in Sydney including Blacktown, Fairfield, Carramar, Auburn, Parramatta, Campsie, Cabramatta, and others.
One of the more popular areas for China's new rich, in addition to the old money suburbs of Vaucluse, Bellevue Hill and Point Piper, is Hunters Hill.
And it turns out Perth has the wealthiest neighbourhoods in the country. Residents of Cottesloe and Peppermint Grove in the Western Australian capital boast an average taxable income of $325,343 apiece.
Of the top 10 richest postcodes, 1 is located in Western Australia, 1 is located in Victoria and the remaining 8 are all located in some of the most exclusive spots across Sydney. At the top of the list is Western Australia's 6011 postcode, which comprises Cottesloe and Peppermint Grove.
With 126,900 millionaires, Sydney made it to number 10 with the report noting especially strong growth in wealth in the Harbour City over the past 20 years, making it Australia's wealthiest city. It's also predicted to reach the top 5 wealthiest cities in the world by 2040.
New York is the world's most popular place for the super rich to own a property, according to a new report by data firm Altrata. A total of 21,714 ultra-high-net-worth (UHNW) individuals — those worth over $30 million — own either a primary or secondary residence in the city, the study found.
#1: New York
New York is the wealthiest city in the world—home to 345,600 millionaires with a total private wealth that exceeds $3 trillion. New York is home to many Fortune 500 companies and is the financial heart of the United States, with the New York Stock Exchange and NASDAQ located in the Big Apple.
New York City
The Big Apple is home to 340,000 millionaires, 724 centi-millionaires, and 58 billionaires. It is the financial center of the USA and the wealthiest city in the world by several measures. It is also home to the world's two largest stock exchanges by market cap (the NYSE and the Nasdaq).
Less than a month after it hit the market, Australia's most expensive house has been snapped up by tech billionaire Mike Cannon-Brookes and his wife Anna, ending more than a century of Fairfax family ownership.
The cheapest towns were mostly spread across the New England and Orana regions in northwest NSW and in the state's far west. They included towns Condoblin, Gilgandra, Warialda and Barraba, where median house prices were around the $175,000 mark.