Has the Sydney real estate market got you down? If you’re worried you could never afford an apartment there, never mind a house, shifting your gaze a couple hours north to Newcastle could solve all your property dilemmas.
We’ve looked at five of the most expensive and desirable suburbs in Sydney and recommended a Newcastle counterpart. In every case, a family home in Newy is far cheaper than a unit in the state capital.
All data below is based on median prices on sales leading up to May 2026.
Swap Point Piper for Bar Beach
With a median unit price of $5.1m (from 27 sales), Point Piper is an exclusive suburb for the rich and the even richer. That’s just for units, too. Switch to houses and you’re looking at a median price of $26.5m.
By contrast, the record sale in all of Newcastle is an off-market deal in Bar Beach that’s thought to be in the region of $12m.
The median price for a house in Bar Beach is currently $3.85m, comfortably a million less than a unit in Point Piper.
The draw for Bar Beach is given in the suburb’s name. Coastal living doesn’t get much better than this, and houses in this exclusive area (population 1250) are never more than a few minutes’ walk from the ocean. You’ve also got beachside cafes, a large green space and some of the city’s best lookouts along the Anzac Memorial Walk.
Trade Barangaroo for Honeysuckle
With a median unit price of $5m, Barangaroo is another Sydney suburb that’s out of reach for most.
But if you’re looking for a home that’s on a harbour, close to the city centre and full of waterfront dining options, Newcastle’s Honeysuckle precinct is an almost like-for-like replacement.
Like Bangaroo, Honeysuckle is mostly made up of units, with apartment blocks lining the pedestrianised section next to Coquun (Hunter River). The median unit here is around the $1m mark – so it’s the question of whether you want one in Sydney or five in Newy (or one and huge change). You’ll also find some of the city’s best bars and restaurants in this section.
House prices in Newcastle, slightly further from the water, sit at the $1.5m mark. Taking the whole suburb into account, you have access to five-star hotels (and their restaurants and bars), family-friendly activities, the newly revamped art gallery, an incredible beach and the impressive King Edward Gardens.
Ditch Double Bay for Cooks Hill
Point Piper’s neighbour, Double Bay is another waterside suburb with huge costs. The median unit here is currently $2.8m, while a house is likely to set you back more than $8m. Described by the Sydney tourist board as a shopper’s paradise with “charming heritage architecture”, you could easily be mistaken in thinking they’re describing Newcastle’s Cooks Hill.
The heart of this suburb is Darby Street, Newcastle’s go-to brunch spot. You’ll find institutions like Goldberg’s cafe and the Autumn Rooms alongside an ever-changing line up of restaurants and cafes. You’ll also find boutique fashion stores featuring some of the city’s best-loved and up-and-coming designers.
Cooks Hill is one of Newcastle’s oldest suburbs and it’s full of beautiful terraced housing and early colonial architecture.
It’s also positioned close to the coast, with Newcastle Beach, Bar Beach and the Susan Gilmore Beach in very easy walking distance.
Best of all? A house in Cooks Hill is likely to set you back around $1.7m, again saving you more than a million dollars when compared with a Sydney apartment.
Instead of Cremorne Point, try Merewether Heights
We had to scroll a fair bit through the list of Sydney’s most expensive suburbs to find Cremorne Point, but we wanted somewhere north of the harbour. At $2m for a median unit (and more than $6m for a house) it fits the bill nicely.
If you’re looking for a leafy suburb with stunning views, Merewether Heights is your substitute. The small area shares a similar exclusivity with Cremorne Point with just 1500 residents.
Greenery is evident all around you, with the suburb backing onto the popular Glenrock Reserve (and Merewether Golf Course, if that’s your thing). On the other side you have the popular suburb of Merewether and its incredible surf beach, ocean baths and waterfront dining strip.
As of May 2026, houses in Merewether Heights are selling for around $1.7m.
Switch Millers Point for Newcastle East
A historic suburb close to both the water and the city centre, there’s lots to admire about Millers Point. But with apartments going for $2.2m and houses going for $5.6m, you’ll need deep pockets to call it home.
Up north, Newcastle East has similar vibes. Take your pick from some of the city’s oldest homes and soak up the atmosphere of places that you’ll find in tourist brochures across Australia.
Walk along the revamped mall into the CBD or stroll east along the Foreshore to Newcastle and Nobbys beaches. Early buildings like the original customs house, city jail and railway station have been revamped and given a new lease of life (as a pub, art gallery and entertainment precinct, respectively) while other historic buildings like Fort Scratchley remain as tourist favourites.
Houses in Newcastle East are currently valued at $2.1m with units at $1.8m, the latter higher than average because of the ongoing development of Hunter Street Mall with high-end apartments and stores.
Want to buy property in Newcastle?
Newcastle’s old reputation of being an industrial town has been discarded as people discover the new, modern city. Home to some of Australia’s best (and quietest) beaches, Newy has a cafe scene to rival Melbourne’s and one of the country’s best wine regions on its doorstep.
Want help buying a home in Newcastle? Speak to one of our mortgage brokers and take the first step in your sea change.
