As of one Australia’s wealthiest suburbs, it is not surprising to see Bellevue Hill at the top of the most expensive suburbs list, and it did land as 2018’s priciest place to buy a home, according to the latest REA report.
A total of 77 houses were sold from 1 January – 31 December 2018, bringing the median house sale price in Bellevue Hill to $5.75 million, according to realestate.com.au data. The latest figures, on the other hand, state that from 1 Mar 2018 – 1 Mar 2019, Bellevue Hill’s median house price is $5,537,500.
Yet, several trophy homes went through the roof, selling well above the $10-million mark, such as one property on Victoria Road, which was sold in December 2018 for a whopping $18.6 million. This exquisite home sits on a 1,650-sqm lot located at 86b Victoria Road where the neighbourhood’s monthly median personal income is at $6,342, according to data from realestateVIEW.com.au. The property features 5 bedrooms, 5 bathrooms, and 5 car parking spaces.
Cashed up buyers are willing to pay top dollar for a home in this sought-after suburb not only for its prestige, but also because it is very close the city, amenities, and some of the city’s elite schools, the report said. Trophy homes that have been held by the same family for decades have also come onto the market lately, and wealthy buyers are just happy to snap them up.
Following Bellevue Hill in the list of Sydney’s most expensive suburbs for the 12 months to November 2018 are Double Bay, Vaucluse, Longueville, Mosman, Dover Heights, Rose Bay, and Bronte.
