12 Oct 2012

Sydney tops property rlist

9:52 am on 12 October 2012

Sydney leads the list of Australia's most expensive suburbs, a long way ahead of Perth and Melbourne.

Sydney has 19 of Australia's most expensive 25 suburbs, according to the RP Data Property Pulse released on Thursday.

AAP reports Perth and Melbourne are a distant second and third.

Perth has three, Melbourne two and Eagle Bay in Western Australia's Margaret River region also gets a top 25 ranking.

The suburb with the highest median house price in Australia is Point Piper - around $A7.4 million.

AAP reports residents there have the highest average incomes in the nation, averaging just over $A182,000.

RP Data research director Tim Lawless said suburbs on the property rich list tended be in areas near the central business district, close to the water, or featured houses with a heritage value or houses perched on larger blocks of land.