Most Expensive Areas to Live in Australia

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There's a reason we're called the lucky country. Even taking into account the extremes in the weather, we have minimal natural disasters, a great standard of living and we produce most of what we need. We're multinational and welcome most forms of diversity. So it comes as no surprise that many people chose to live in Australia and many companies send employees to spend time here on business - but what areas are the most expensive?


If you're an expatriate living in Australia, Sydney has claim to being the most expensive Australian city, ranking 11th out of 30 of the most expensive cities in the world. Melbourne was 15th, and Perth 19th. Canberra slides in next at 23rd while Brisbane takes 24th. Adelaide sits happily at 27th. If you're curious, Tokyo is the most expensive city in the world for expatsi.

What if you're not an expat, but a true blue Australian citizen? Where are the most expensive places to buy a home?

Tamarama, also known as 'Glamarama', has taken the title of Australia's most expensive suburb (to buy property in). With an increase in median house prices of 38% over the last five years, the price is now $3.8 millionii. It is an affluent suburb, with its beach sandwiched between Bondi to the north and Bronte to the south.

Second place was given to Perth's Peppermint Grove - median house prices tipped $3.4 million. With a population of 1,600 and hugging the picturesque Swan River, it boasts services to rival the largest cities in the world.

Perth, Australia

Vaucluse, at $2.9 million, is located on a peninsula; the Tasman Sea is to the east and Sydney Harbor is on its west. Surrounded by suburbs such as Watsons Bay, Dover Heights and Rose Bay, Vaucluse has for some time had a good name amongst realtors. In 2007, one of the iconic Vaucluse properties sold for $29 million. Shortly before that sale, the record was held by a Point Piper property, sold for $28.75 millioniii. Point Piper, incidentally, suffered the worst with median unit prices falling 41%. The best performer was Moranbah - a mining town in Queensland, with an increase of 46%.

Double Bay holds its own with a median property price of $2.5 million, and then it moves to Melbourne with its exclusive Toorak suburb and equal with Double Bay at $2.5 million. Perth's Dalkeith rounds it off with $2.2 million.

Ok, what about the cost of living? Sydney and its southern cousin, Melbourne, have ranked seventh and eighth most expensive cities to live in out of 140 cities in 93 countries worldwideiv. We're only beaten by cities such as Zurich, Tokyo, Oslo and Paris.

Australia is one of the best countries in the world to live in, whether for work or pleasure. Both property and cost of living prices reflect this, putting Australia up there with the world's best cities. It really is the lucky country.