5 hottest postcodes for Young Rich listers

1. BRIGHTON (Victoria)

Situated 11 kilometres to the south-east of Melbourne’s CBD and fronting Port Phillip Bay, Brighton is an exclusive bayside suburb popular with wealthy Melburnians. Its most notable residents include cricketer Shane Warne, Hollywood actor Eric Bana and former Olympian Cathy Freeman. The median house price is $1.53 million but the most expensive Brighton home sold in the past 12 months went for five times that, $7.7million.

2. DARLINGHURST AND SURRY HILLS (NSW)

The 2010 postcode covers the inner-city and hip suburbs of Darlinghurst and Surry Hills which are favoured by young and old buyers alike. This space, on the eastern fringe of Sydney city, was once considered a gritty and industrial area but the gradual process of gentrification, which began in the 1980s, now makes it one of the hottest spots for Sydney real estate. Average house prices in this postcode, famous for its restaurants, vintage shops and cafes, hover just below $1 million. The sellers of the suburb’s most expensive home sold last year collected $7.9 million.

3. HAWTHORN (Victoria)

Just six kilometres to the east of the CBD, Hawthorn is a popular Melbourne address. Lush leafy trees line the suburb’s streets, which are filled with well-preserved Victorian, Edwardian and federation style homes. It is populated by young professionals and is home to some of Victoria’s best-performing schools. Property values in this suburb are particularly resilient. Even after the financial crisis, the median house price for this postcode stayed stable at $1.1 million. The suburb, which is home to the state’s Premier, Ted Baillieu, has some expansive family homes that often stay in the same family for several generations. One such grand family home recently sold for $8.8 million.

4. HAWTHORN EAST (Victoria)

A few kilometres further from the city Hawthorn’s neighbour, Hawthorn East, is another popular address for young Melbourne dwellers. Forty per cent of its population is aged between 20 and 39. The suburb straddles two busy shopping strips on Glenferrie Road and Burke Road and is home to a large number of students given its proximity to Swinburne University. Like its neighbour, the average Hawthorn East home sells for $1.1 million. The highest price paid for a house in Hawthorn East in the past 12 months was $4.65 million.

5. HOPE ISLAND (Queensland)

Hope Island is an exclusive enclave on the Gold Coast. The Hope Island Resort, an upscale gated community, occupies a sizeable chunk of the island and offers first-class marina facilities, a golf course, tennis courts, 24 hour security and expansive modern homes. Residents range from young families to retirees, most of whom use golf buggies on the resort’s extensive network of pathways to reach various facilities and shops. The average house price in the area is $645,000 but the price tag attached to the designer homes within the resort are much higher. A recent purchase sealed at $6.2 million is closer to the mark.

BRW’s Young Rich issue is out this Thursday

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