Dover Heights is an affluent neighbourhood that hugs the top of the cliffs overlooking the Tasman Sea, meanwhile, Vaucluse is known for being an incredibly affluent area with peninsular and harbour views unlike any other. The entire suburb is home to some of Sydney's highest property prices and largest pay packets.
The Australian Taxation Office (ATO) analysed the tax returns of more than 15 million Aussies from the 2020-21 financial year to come up with the rich list. Double Bay took out the top spot, living up to its 'Double Pay' nickname, with residents of the 2028 postcode raking in an average annual income of $266,381.
No suburb in the country features a greater concentration of members of The List – Australia's Richest 250 than Toorak, where Melbourne's wealthiest families have gathered for decades. Think historic looking mansions guarded by large hedges set back from the street to ensure privacy.
According to the Urban Living Index, Crows Nest is the most liveable suburb in Sydney. Other suburbs that scored highly include North Sydney, Lavender Bay, Neutral Bay, Kirribilli as well as Manly and Fairlight.
Census 2021 data: Sydney's riches and poorest postcodes revealed: Marrickville the winner.
Over on Sydney's lower north shore, Hunters Hill and Woolwich are situated on a small peninsula that separates the Lane Cove and Parramatta Rivers. Aside from some of Sydney's richest, the area is also home to a number of heritage buildings and impressive houses.
Vaucluse — $9,000,000
As far as pricey suburbs in Sydney go, Vaucluse has seen a 32.35% rise in annual growth and median rents are at $2,890 per week for a house. The average sale price for a unit is $1.377 million with a median weekly rent of $725.
1. Beecroft. Beecroft is one of the safest, family-friendly suburbs in Sydney. Boasting some of the best schools in the country, plenty of entertainment venues, and a low crime rate of 0.05% per capita, Beecroft is a favourite among parents to raise their kids in.
Roxby Downs, home to BHP Billiton's Olympic Dam site, is the wealthiest South Australian town while Sydney's harbourside suburb of Kirribilli is the richest in New South Wales.
The poorest suburbs in Sydney are Blacktown, Fairfield, Liverpool, and Auburn. These are the least advantaged suburbs in Sydney, as determined by a combination of household income, occupation, and level of education.
What are the richest suburbs in Australia? The highest-earning suburbs in Australia are Cottesloe and Peppermint Grove in Western Australia, based on the ATO's latest taxation figures.
Five of the country's top 10 richest towns are located in Western Australia, according to the latest census data, with Dampier taking the top spot with 22% of its residents earning more than $4,000 per week.
Mungallala Methodist Church was built in 1964. It has now closed. In 2016, the Australian Taxation Office listed Mungallala as having the lowest mean taxable income by postcode, making it the poorest town in Australia, which led the ABC to do a documentary on the town for their online "storyhunters" program.
More on the wealthy states within Australia
The Australian Capital Territory (ACT) has the highest average income among Australian states and territories, due to its strong public administration and professional services sectors. New South Wales also has a high average income, higher than the rest of the states.
Sydney. Sydney rounds out the top 10, with 126,900 millionaires. This makes the city Australia's wealthiest.
If you're looking for Sydney's safest suburbs, areas like Darling Point and Manly have some of the lowest crime rates.
Roseville, Mosman and Mount Kuring-Gai were top of the list. They did not score well for active transport, but ranked highly for access to open space, volunteering, tree cover, access to health services and had a low density of fast food and bottle shops.
What are the poorest suburbs in Sydney? As per the Australian Taxation Office, there are many disadvantaged areas in Sydney including Blacktown, Fairfield, Carramar, Auburn, Parramatta, Campsie, Cabramatta, and others.
Parramatta and surrounding areas, plus the inner west, were the big winners in the lists of 10 suburbs for units and 10 suburbs for houses located within 30km of the CBD. Parramatta received 618 inquiries from potential first home buyers, making it the most sought after market for units in Sydney.
The cheapest towns were mostly spread across the New England and Orana regions in northwest NSW and in the state's far west. They included towns Condoblin, Gilgandra, Warialda and Barraba, where median house prices were around the $175,000 mark.
One of the more popular areas for China's new rich, in addition to the old money suburbs of Vaucluse, Bellevue Hill and Point Piper, is Hunters Hill.
Manly Beach has been named one of the world's most expensive beaches.