With its fabulous weather, vast sandy beaches and jaw-dropping landscapes, Australia is one of the most desirable places in the world to live.

Australians are among the wealthiest people on the planet, so it’s no surprise they have set up home in the country’s most exclusive neighbourhoods.

From Sydney’s Double Bay to Cottesloe on Perth’s coast, the stunning mansions in Australia’s most valuable postcodes are worth their weight in gold!

Click or scroll on to discover the red-hot suburbs Australia’s elite call home…

As you would expect, the most expensive residential areas tend to be around Australia’s largest cities, in Sydney, Perth and Melbourne.

Drawing on data compiled by Australian property data platform PropTrack, which examines the priciest postcode in areas with a minimum population of 100,000 people, we reveal the most valuable postcodes in eight of Australia’s top neighbourhoods.

From homes with waterfront views to soaring apartment blocks with endless amenities, find out where Australia's rich reside.

In Australia’s Northern Territory, the home of Uluru, Darwin is known for its multiculturalism and proximity to Asia.

Despite being the smallest of Australia’s main cities, it packs a punch when it comes to property. It offers a wide range of traditional elevated homes with louvred windows and verandas, as well as luxury waterfront apartments.

Darwin’s 820 postcode stretches across 13 suburbs including Bayview, Coonawarra, East Point, Eaton, Fannie Bay, Larrakeyah, Ludmilla, Parap, Stuart Park, The Gardens, The Narrows, Winnellie and Woolner, so there’s plenty of choice.

With an average house price of AU$835,000 ($533k/£402k), Darwin 820 is pretty reasonable compared to the rest of Australia, considering it’s the priciest area of the city.

The most sought-after pockets include Larrakeyah, where a three-bedroom luxury waterfront apartment will set you back a little over the average house price, but offers heaps of amenities and a vast range of restaurants. 

It has a large indigenous population, and many Australian defence personnel and their families are based here.

While Hobart, the capital of Tasmania, is relatively cheaper than most Australian cities, it has experienced something of a property boom in recent years.

Between the Derwent River and the majesty of Mount Wellington, outsiders have started to appreciate its natural beauty and laid-back vibe.

And nowhere more so than within the 7005 postcode, which covers Sandy Bay and Dynnryne, where a wide range of properties are available from luxurious penthouses to quaint heritage homes.

The neighbourhood of Sandy Bay is Hobart’s priciest area. It lies south of the city’s central business district and adjoins Battery Point, regarded as Australia's best preserved colonial-era suburb. 

Along with the hilly area of Dynnryne, which has sweeping views of the Derwent River, Sandy Bay boasts an average house price of around AU$1,208,500 ($830k/£626k).

Known for its high quality of life, abundant green spaces and strong sense of community, Canberra, the capital of Australia, has been ranked among the world’s best cities to live in.

The seat of Australia’s government and its largest inland city, Canberra is at the northern tip of the Australian Alps, the country’s highest mountain range.

It’s surrounded by nature reserves and hiking trails, which contribute to its citizens’ sense of wellbeing.

Canberra’s top postcode, 2603, which includes Forrest, Griffith and Red Hill has an average house price of AU$2,343,000 ($1.6m/£1.2m) and is home to some of Canberra’s most exclusive residences, from its beautiful period homes to its more modern architectural apartments and townhouses.

For a cheaper option, try these modernist apartments, designed by Cuthbert Whitley in 1939, which are sought-after dwellings in Griffith. Fortunately, modern renditions have been built nearby with prices starting at just under AU$600,000 ($383k/£290k).

Home to Hyde Park, Malvern, Unley, and Unley Park, anyone who is anyone lives within this 5061 postcode in Adelaide’s inner suburbs.

Unley Park is one of Adelaide’s earliest residential areas and is known for its striking bluestone and sandstone architecture as well as its wide, leafy streets.

Meanwhile, highly sought-after Malvern boasts colonial stone-fronted iron-wrought residences and Victorian villas on streets lined with purple jacaranda trees. Hyde Park is home to some of the city’s best schools and a popular shopping destination.

The average house price in 5061 is AU$2,215,000 ($1.4m/£1m), but a substantial period house like this one could set you back as much as AU$5 million ($3.2m/£2.4m).

The priciest properties are usually period stone residences with luxurious modern renovations, including pools and tennis courts.

Despite economic uncertainty, Adelaide’s property market is buoyant, with house prices rising by more than 13% in 2024 and demand outpacing supply.

Famed for their pristine beaches, luxurious homes and relaxed coastal lifestyle, it’s no wonder the suburbs of Peppermint Grove and Cottesloe within the 6011 postcode top the charts in Perth’s luxury property market.

The beachside suburb of Cottesloe, with its iconic Indiana Tearoom building, has the second highest average taxable income in Australia at AU$356,588 ($225k/£170k), so there’s no shortage of well-heeled individuals to snap up the stunning properties on offer. 

Average house prices are around AU$3,475,000 ($2.2m/£1.77m) with annual capital growth of 6.25%.

But many of its lavish mansions cost much more, like this luxury four-bedroom home in Cottesloe with ocean views, which sold for AU$15.5 million ($10m/£7.4m) and was one of the most expensive house sales in 2024.

Meanwhile, Australia's second-richest person, mining magnate Gina Rinehart, lives nearby in the leafy suburb of Dalkeith.

In Brisbane, the 4005 postcode, which takes in New Farm and Teneriffe, offers a blend of urban sophistication and serene riverside living, attracting high-end buyers who value lifestyle and convenience. The area has been dubbed "Little Italy" due to its trendy food and coffee scene.

Ascot and Hamilton meanwhile, with the 4007 postcode, are known for their grand homes, leafy streets and proximity to Brisbane’s best schools and amenities.

The average house price in New Farm and Teneriffe hovers around AU$3,200,000 ($2m/£1.5m), which seems a bargain in comparison to Sydney and Melbourne.

The suburbs have a mix of 19th-century colonial buildings and 20th-century Queenslanders, the iconic timber frame single-storey dwellings with characteristic veranda that distinguish Brisbane’s suburbs, as well as modern structures.

A renovated old-fashioned Queenslander in Teneriffe, similar in style to this home shown here, sold at auction in 2022 for just over AU$3.7 million ($2.3m/£1.8m).

Renowned for its grand heritage homes and elite private schools, Melbourne retains its enduring appeal amongst Australia’s richest individuals.

Its top three suburbs include Toorak, Canterbury and Brighton, which are celebrated for their historical charm, modern architectural masterpieces and close-knit communities.

However, Melbourne’s 3142 postcode of Toorak takes the prize for having the highest house prices in the region and for being home to the largest concentration of Australia’s wealthy.

Distinctive for its gated cul-de-sacs and tree-lined streets, Toorak has drawn the rich and famous since wealthy merchant James Jackson built an Italianate residence here in 1849. Others soon joined him.

Only a few of the original 19th-century mansions remain, and many wealthy residents are opting for more modern homes, like this one.

A Toorak mansion in a similar style was listed for AU$80 million ($50.8m/£38.5m) in 2024. However, a typical home sells for around AU$5 million ($3.1m/£2.4m).

Sydney features heavily on the list of pricey neighbourhoods, but the city’s Eastern Suburbs, specifically the 2023 zipcode of Bellevue Hill, holds the title for Australia’s most expensive.

Its prime location, breathtaking views and opulent mansions make it a hotbed for luxury residences, with multiple properties selling for well over AU$10 million ($6.3m/£4.8m).

It’s home to Scots College, one of Australia’s most exclusive private schools, and a stone’s throw from The Royal Sydney Golf Club.

Some of Australia’s richest individuals live in the Bellevue Hill area of Sydney, where the average house price is AU$9.6 million ($6.1m/£4.6m).

Well-heeled residents include Lachlan Murdoch, who paid AU$23 million ($14.7m/£11m) for his Georgian pile Le Manoir in 2009.

GWS Giants AFL team deputy chairman Adrian Fonseca paid AU$15.6 million ($10m/£7.5m) for his Sydney base, which he often rents out to visiting celebrities, including Kourtney Kardashian, who stayed there with husband Travis Barker during his Blink 182 tour in 2024.

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