Australia's most expensive suburb is not in Sydney or Melbourne

With a population of just 34,500 people and a median house price of $987,500, the coastal town has surpassed Sydney and Melbourne.

Most expensive places to buy a home (median house price)

1. Byron Bay - $987,500
2. Sydney - $950,000
3. Kiama, NSW - $910, 000
4. Surf Coast, VIC - $835,000
5. Wingecarribee, NSW - $814, 500
6. Melbourne - $772,500

Watch the full story and analysis in the clip above.

This article first appeared on 7news

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