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Friday, 12 October 2012

"Point Piper tops price list"

Here's another interesting article.

Point Piper, in Sydney's leafy east, is Australia’s most expensive place to buy a home, with a median house value of $7.3 million.
With well-heeled residents like Westfield co-founder Frank Lowy, Ray White chairman Brian White and Aussie home Loans' executive chairman John Symond, and locations like Wolseley Road (often cited as Australia’s most expensive street) within its bounds, it is not surprising the harbourside suburb was a clear standout.
In an RP Data analysis of the nation’s priciest locales, Sydney dominated the top 10, with a nearby Watsons Bay placed second, thanks to its $ 6.4 million median house value, followed by Centennial Park at $5.1 million and waterfront Woolwich, 4km west of the city, at $4.6 million.
Pert’s riverside Peppermint Grove placed 5th, with a $4.2 million median house value.
Sydney’s Darling Point, Henley, Vaucluse and Bellevue Hill, and the beachside playground of Eagle Bay in WA’s south-west, rounded out the top 10.
The top-25 suburbs were generally close to the CBD, near the water, had homes of heritage value, or were on larger plots of land, RP Data research director Tim Lawless said. Many had all of these qualities.
Melbourne’s Toorak was Victoria’s first entry at No. 12, with a median value of $2.7 million. Main Beach on the Gold Coast was Queensland’s first entry on the list at 34, with a median value of $1.8 million. The analysis used median house-value estimates, rather than sale prices, meaning that most houses in each suburb were included in the analysis.

This information was gathered from The Australian Financial Review. Article by Ainslie Chandler.

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