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Some of the most Expensive property in the world – Sydney’s Eastern Suburbs

By Danielle Banton

With an endless of array of boutique stores, world-class cuisine, and row upon row of beautifully crafted homes, these suburbs are the epitome of waterside luxury, it is not hard to see why the rich and famous choose to call the Eastern Suburbs their home.

The Eastern Suburbs have once again proven to be some of the most expensive and sought after real estate in the world, seeing Point Piper, Double Bay, Rosebay, and Vaucluse all making the list.

According RP Data’s list of the most expensive suburbs for houses in Australia sees Sydney postcodes making up eight of the top 10, with the three most expensive all coming out of the same council.

In its 2015 Global Housing and Mortgage Outlook report,  top ratings agency, Fitch finds that Australian homes are the third most expensive of the 22 countries it surveyed “With almost 25 years of continuous GDP growth, record low rates and stable unemployment, Fitch expects Australian prices to remain high and affordability likely to slightly worsen in the near term before levelling off as it reaches an affordability ceiling.”

According to Craig Pontey Director at Ray White Double Bay ‘The good news for the savvy investor is that property in this part of the world is a rock solid investment and is set to remain that way for some time to come’.

 Sydney’s top-10 sales this year

1.$39.9 million in May: Webb to Lee: Mandalay, Wolseley Road, Point Piper

2. $39 million in May: Xu to Wang: Villa del Mare, Wolseley Road, Point Piper

3. $38 million in April: Roberts to Lee: Gladswood Garden, Double Bay

4. $28 million in January: Lim to Wang: Wolseley Road, Point Piper

5. About $26.5 million in May: Heong to TBA: Bayview Hill Road, Rose Bay

6. $16.2 million in April: Stamford to Zhang: Stamford Residences, Gloucester Street

7. $16 million-plus in April: Lochtenberg to TBA: Curraghbeena Road, Mosman

8. $16 million in May: Harvey to TBA: Bronte Wave House, Hewlett Street, Bronte

9. $15.3 million in March: Webster to Locke: The Crescent, Vaucluse

10. $15 million in March: Vanda to Rose: Bayview Hill Road, Rose Bay

Total: $249.9 million

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