Buyers writing off Australia's prestige suburbs on price may be making a costly mistake, according to new realestate.com.au data showing median home values can swing by up to $11.68 million between the cheapest and most expensive pockets of the same postcode.
The analysis used PropTrack's automated valuation model to compare SA1 regions within individual suburbs over the 12 months to April 2026, finding that even historically out-of-reach addresses contain pockets that are meaningfully more accessible than their suburb's headline price suggests.
Sydney's eastern and northern suburbs account for the largest price spreads across the country. Vaucluse topped the list for houses, with an $11.68 million difference between its cheapest and most expensive SA1 pockets — the former sitting at $3.86 million, the latter at $15.54 million. Bellevue Hill followed at $11.13 million variance, and Manly, Mosman, Bronte, and Rose Bay all recorded spreads exceeding $10 million.
NSW held nine of the top 10 rankings for houses, with Toorak in Victoria the sole interstate entry, ranking third with an $11.06 million spread between a $2.19 million floor and a $13.25 million ceiling.
For units, the disparity was equally pronounced. Hunters Hill recorded the largest gap nationally at $5.96 million, with the cheapest SA1 pocket at $595,000 — a figure that might surprise buyers who had written off the suburb entirely. Mosman, Pyrmont, Edgecliff, and Darling Point all featured in the top ten, all in NSW.
| State | Suburb | Type | Max AVM | Min AVM | Variance |
|---|---|---|---|---|---|
| NSW | Vaucluse | House | $15,536,000 | $3,858,000 | $11,678,000 |
| Hunters Hill | Unit | $6,558,000 | $595,000 | $5,963,000 | |
| VIC | Toorak | House | $13,251,000 | $2,188,000 | $11,063,000 |
| Armadale | Unit | $2,550,000 | $350,000 | $2,200,000 | |
| QLD | Palm Beach | House | $8,938,000 | $1,430,000 | $7,508,000 |
| New Farm | Unit | $3,354,000 | $807,000 | $2,547,000 | |
| WA | Mosman Park | House | $8,132,000 | $1,344,000 | $6,788,000 |
| Mosman Park | Unit | $2,332,000 | $475,000 | $1,857,000 | |
| SA | Glenelg North | House | $3,802,000 | $1,093,000 | $2,709,000 |
| Adelaide | Unit | $1,629,000 | $308,000 | $1,321,000 | |
| TAS | Battery Point | House | $2,635,000 | $1,422,000 | $1,213,000 |
| Burnie | Unit | $838,000 | $363,000 | $475,000 | |
| NT | Larrakeyah | House | $2,205,000 | $1,260,000 | $945,000 |
| Darwin City | Unit | $839,000 | $252,000 | $587,000 | |
| ACT | Red Hill | House | $5,954,000 | $1,766,000 | $4,188,000 |
| Griffith | Unit | $1,671,000 | $473,000 | $1,198,000 |
Source: PropTrack AVM data, 12 months to April 2026
REA Group senior economist Anne Flaherty (pictured) pointed to land values as the primary driver.
"The suburbs that see the largest variation in prices are typically found in the most expensive pockets around the country,” Flaherty said. “In these suburbs, land values tend to be extremely high, meaning that a house with a significant land component will command a relatively larger premium compared to a suburb where land values are cheaper. As the value of land has risen over time, as well as the cost of construction, we have seen price gaps within suburbs increase."
Outside Sydney, the data surfaces entry-point opportunities in other states worth flagging to clients.
Palm Beach in Queensland recorded a $7.51 million house price spread, while Mosman Park in Western Australia showed a $6.79 million difference — with its cheapest pocket sitting at $1.34 million against a top end of $8.13 million.
The pattern holds for units too. In Victoria, Armadale recorded a $2.2 million variance, with the cheapest pocket at $350,000. In the ACT, Red Hill recorded a $4.19 million gap for houses, with the floor at $1.77 million — well below what the suburb's reputation might suggest.
The data reinforces a broader point for brokers: in a market where clients increasingly self-research using suburb averages, those averages can be as misleading as they are informative. Understanding how price varies within a postcode — not just across them — is increasingly part of the value a broker brings to a purchase conversation.
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