Admittedly I don’t know that much about Melbourne, but isn’t Toorak also a rich suburb like Point Piper (and Potts Point) is here in Sydney?
I wouldn’t have thought Potts Point would be up there.
More likely Vaucluse, Elizabeth Bay, Mosman or Cremorne.
Toorak is expensive but Point Piper is next level, a house sold in the suburb earlier this year for $100m+. The people who can afford Point Piper are the ones who own the companies that the expats work for.
Most expats are skilled white collar workers, not hugely paid executives (though obviously there are some of those too). You’ll find them in all the usual well-off parts of Sydney (Inner West, South East, North Shore for families etc). Don’t know about Melbourne but I imagine it’s much the same.
It’s one of Melbourne’s most affluent suburbs yes, possibly the richest. As most are in the eastern, inner-south east and Bayside suburbs. It has been Australia’s most expensive and/or richest suburb in the past too.
Hunters Hill, Woolwich is also quite nice. North shore, Eastern Suburbs with its fine Sydney harbour view will always outshine Melbourne.
I agree. Potts Point is far too close to seedy old Kings Cross to be considered a prestigious suburb, surely?
I’m getting flashbacks to 1993 and the two weeks I stayed in a rooming house in Potts Point when I was looking for somewhere to live in Sydney. It was the height of summer and I barely slept for those two weeks. Air conditioners in neighbouring buildings were noisy, junkies and prostitutes screamed in the street all night and the nearby pizza restaurant reeked.
You’d think after that experience I wouldn’t have stayed in the equivalent Melbourne suburb ten years later. I lasted one night in St Kilda before opting for somewhere a little quieter.
That whole area has gentrified massively in recent years. It’s almost all apartments so will never match its more upmarket neighbours to the east but the area is becoming very popular among young professionals and arty downsizers.
Chris Bath lives in Potts Point so it can’t be too bad