Sydney dominates Melbourne for the 20 most expensive postcodes

Waterfront locations and coveted school zones dominate the country’s most expensive postcodes, new Domain data shows.

All the postcodes in the top 20 list were in Sydney, led by the eastern suburbs, the northern beaches and the north shore.

Six of the postcodes in the top 20 have a median house price higher than $5 million, and ten have a median price above $4 million.

The country’s most expensive postcode was 2023, which covers the exclusive eastern Sydney suburb of Bellevue Hill and has a median house price of $7.16 million.

It is one of Australia’s wealthiest suburbs. Some of its past and current notable residents include members of the Packer family, stockbroker Rene Rivkin, Lachlan Murdoch and Toni Collette.

Located just five kilometres from the Sydney CBD, 16 homes were snapped up in the tightly held suburb in the past year.

Among the notable sales this year was a house in 18 Victoria Road, which sold at auction for $20.9 million in October, and the house at 144 on the same street, which was sold for $19.97 million in February.

“There’s been so many sales over and above a particular price point in the past year that it’s not surprising that it’s number one postcode,” said Ben Collier, co-founder of The Agency.

“Bellevue Hill has probably had the longest, if not the longest run of significant depth in that market for not just this past year, but the last few years combined.”

Postcode 2030, which covers Dover Heights, Rose Bay North, Vaucluse and Watson Bay, came second in the list.

The median house price in the postcode was $6.5 million. It also houses among the country’s wealthiest, with the residents having a taxable income of $182,829 on average.

In third place was postcode 2028, which encompasses Double Bay, where the median house price is $5.917 million.

Rounding the top six are postcodes 2108, 2029 and 2095, which encompass Currawong Beach, Palm Beach, Rose Bay, Manly and Manly East.

For units, the priciest postcodes are 2095 (Manly and Manly East), 2027 (Darling Point, Edgecliff and Point Piper) and 2061 (Kirribilli and Milson’s Points.

Median unit prices for these postcodes were $1.937 million, $1.757 million and $1.7 million respectively.

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