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The latest research by Onthehouse.com.au has revealed that NSW is the wealthiest state when it comes to residential property, with 23.4% of dwellings in the metropolitan area valued at over $1 million.
While the most expensive street can be found in Mosman, the suburb itself ranked eleventh on the top list of suburbs with 99.87% of houses in the millionaire’s club.
Related Article: NSW Million Dollar Streets
Onthehouse.com.au has found that Balgowlah Heights, Clontarf, Cremorne Point, Duffys Forest, Henley, Huntleys Point and Huntleys Cove to have the greatest percentage of million dollar houses, with 99.99% of houses being valued over $1 million.
Calculated on a percentage basis (houses valued over $1 million), the table below demonstrates the wealthiest NSW suburbs in ranking order.
To view the Top 50 Suburbs in NSW where houses are valued over $1 million, click here.
John Edwards, Consulting Analyst for Onthehouse.com.au, said it was no surprise to see so many New South Wales suburbs housing some of Australia’s most expensive properties.
"Within the Top 10 alone, no suburb drops below 99%, and while Mosman didn’t make the Top 10, the fact it hosts Australia’s number one street still cements its position as one of Australia’s most prosperous localities.”
Mr Edwards added: “Based on our findings, we expect to see new suburbs emerge as millionaire property hotspots over the coming year. It was interesting to note that Castle Hill topped the chart as the suburb with the largest increase in million dollar properties over the last 12 months, closely followed by Ryde, Epping, Cherrybrook and Carlingford.” he said.
To find out if your street has properties valued over $1 million, and to view property reports and values for any of Australia’s suburbs, click here.
Published: 25 August, 2014.