Suburbs where Australia’s billionaires live
We now know where all the billionaires live after new data revealed the surprising suburbs attracting the most affluent Australians.
Where do most Australian billionaires live?
It is — perhaps surprisingly — not on the eastern shores of Sydney.
The Australian analysed data from the Richest 250 and found the top ten suburbs where billionaires reside — with the top spot taken by a suburb in Melbourne.
More billionaires from the list live in the elite Melbourne suburb of Toorak, five kilometres southeast of the CBD, than any other Australian suburbs.
Toorak boasts gated cul-de-sacs, privacy hedges, tree-lined streets and 22 of Australia’s richest people.
Billionaire investor Ed Craven bought a prestigious “ghost mansion” in Toorak and is living in another mansion in the suburb while he waits for construction on the house of his dreams.
He paid $80 million for the “half-built” property on St George Street and is set to spend a further $145 million to rebuild.
New rich list addition and Lithium investor Nick Wakim spent $61 million on a compound in Toorak that has six bedrooms, seven bathrooms, two pools and a tennis court.
He also bought the house next door for about $12 million, and spent a further $40 million in February on a property on Myoora Road opposite billionaire Lindsay Fox’s large holding.
The affluent suburb is home to 10 per cent of Australia’s wealthy people.
Several exclusive suburbs in NSW were also desirable areas for wealthy people.
Point Piper — the harbourside eastern suburb — is home to 13 of the rich list including Atlassian co-founders Scott Farquhar and Mike Cannon-Brookes.
Mr Farquhar spent $130 million on the Uig Lodge to secure 180-degree harbour views from Point Piper’s highest spot.
Mr Cannon-Brookes spent $100 million on the 1.12 hectare Fairwater Estate.
The Australian reported Aussie Home Loans founder John Symond’s “huge” mansion would top both these prices if he were to sell up.
He owns the largest harbourfront in the suburb with more than 75 metres of water frontage.
Vaucluse equalled Point Piper with 13 billionaires in the eastern suburb.
Billionaire pub baron Justin Hemmes owns a $100 million estate in the suburb that sits 8 kilometres from Sydney CBD.
Mosman is home to six billionaires including capital investor Markus Kahlbetzer who owns one of the most coveted Mosman estates, Mandolong House.
Hunter’s Hill is the home to the oldest billionaire on the list, 100-year-old Len Ainsworth, as well as fund manager Chris Mackay who has a 3200 square metre, four-bedroom house on the water.
Longueville and Bellevue Hill are home to four billionaires each.
Woollahra also has four billionaires, with industrial property magnate Greg Goodman owning at least three mansions.
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Perth’s Mosman Park is the only suburb in Western Australia to make the list.
Billionaire mining magnate Chris Ellison set a price record in 2009 when he paid $57.5 million for mining heiress Angela Bennett’s mansion.
Back in Melbourne, St Kilda and St Kilda East round out the list with four billionaires residing in the bayside suburb.
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