Revealed: Australia's most expensive suburb, and the incredible rent for homes

Residents in Australia's most expensive suburb are typically spending $137,000 a year on rent - or 49 per cent more than an average worker makes in a year.

The Daily Mail reports harbourside Vaucluse in Sydney's eastern suburbs has a median weekly house rent of $2,632 - with half paying more and half paying less, CoreLogic data showed.

This suburb, with a mid-point house price of $8.3million, is the most expensive postcode in Australia's most expensive city, being the home of multi-millionaire celebrities.

The website reports even renting is an elite pursuit, with a tenant almost guaranteed to have a view of either Sydney Harbour or the Pacific Ocean in a ritzy electorate where voters care more about tackling climate change, than the soaring cost of living.

Those in an expensive water view suburb can easily afford the rent unlike outer suburban battlers who struggle with paying $400 a week to their landlord, as petrol and electricity prices surge.

Digital Finance Analytics principal Martin North said those in high-paying jobs and living in upmarket suburbs could afford to focus on environmental causes instead of dealing with financial stress.

Read the full report here.

Photo: Jamie Davies/Unsplash