Sydney dominates nation's property rich list
High-end property investors looking to make a lucrative purchase should look no further than Sydney, with recent figures revealing the Harbour City tops the nation's real estate rich list.
The Sydney real estate market boasts the most expensive property market in Australia, with the New South Wales capital claiming 19 of the 25 priciest postcodes.
Results released this week (October 11) from RP Data, revealed that Point Piper residential property owners were at the top of the nation's real estate market game.
Point Piper residents earn an average income of around $182,000 - the country's highest.
"If you own a house in Point Piper you have truly made it," RP Data research director Tim Lawless said.
Watson's Bay, Centennial Park and Woolwich, all in Sydney, claimed the second, third and fourth spots on the list respectively - all boasting home values around the $6 million mark.
Peppermint Grove in Perth is the fifth most expensive suburb, with house hunters expected to fork out $4.3 million for a pad in the area.
Eagle Bay in Western Australia's Margaret River region also featured high on the list at number ten, with a property setting you back an average of $2.86 million.
Melbourne's elite suburbs recorded a more affordable price point, with Toorak ranking at number 12 with a home setting you back $2.8 million in the postcode.