Comprising just 10 streets of which six are tiny cul-de-sacs, diminutive Point Piper is an ultra-exclusive peninsula jutting northward into Sydney Harbour between Double Bay and Rose Bay, 4.5km from the CBD.

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While most of its harbourfront is devoted to the private playgrounds of the rich and famous, Point Piper does have two small boutique beaches used mainly by locals, Lady Martins and Seven Shillings.

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The Royal Motor Yacht Club and the Royal Prince Edward Yacht Club are also discretely set within Point Piper’s foreshores. Several of Sydney’s top schools are located just minutes away, including Cranbrook, which is literally across New South Head Road, Scot’s, Ascham, Kambala and Kincoppal-Rose Bay.

While Point Piper itself is solely residential, the exclusive restaurants and upmarket boutiques of Double Bay – Sydney’s answer to Rodeo Drive – are just moments away. Take a picturesque walk around the shores of Rose Bay and you’ll find Catalina The Pier, two of Sydney’s most famous waterfront eateries and the site of port for local seaplanes.

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Renowned as one of Australia’s premier addresses, this internationally renowned enclave is lined with multi-million dollar waterfront mansions set on some of the most expensive real estate per square metre in the world.

Much of Point Piper’s architecture is contemporary, reflecting the desire to build bigger and more luxurious homes on this prime land.

However homes from all periods remain here, with some fine examples of Victorian, Edwardian, Federation, Art Deco and P & O styles. A number of apartments were built in the ‘50s, ‘60s and ‘70s, enjoying views every bit as spectacular as the breathtaking mansions surrounding them.

Just 3km from the CBD, quaint and charming Paddington is one of Sydney’s best-known suburbs. It’s renowned primarily for Oxford Street, the vast boulevard which runs north to south through the entire suburb and is one of Sydney’s premier shopping destinations.

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Lined with interesting boutiques, high-street shops and eclectic specialty stores, it’s also the home of the Paddington Markets, held every Saturday in Paddington Primary School. Glenmore Road (The Intersection with Oxford Street), William Street and Five Ways have also emerged as world-class shopping strips, and it’s here that you’ll find some of the city’s most fashionable boutiques.

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Paddington plays host to a vast array of revered galleries, including the famed Sherman Galleries, which congregate primarily around Glenmore Road and the prestigious tree-lined boulevard of Paddington Street. Paddington is an entertainment mecca, with attractions such as Fox Studios and the Sydney Football Stadium.

It’s well-known for its pub culture, with traditional hotels such as The Royal, Bellevue, The Four in Hand, The Grand National and The London and The Paddington Inn offering great pub food at reasonable prices. A firm favourite among trendy inner city types and executives, Paddington’s increasingly high prices mean that the affluent have a firm foothold on the suburb.

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Paddington is famous for the ornate Victorian terraces which dominate almost every one of its meandering streets. Still quite working class up until the late ‘80s, Paddington’s rapid gentrification saw these formerly rundown residences snapped up and renovated at a rate of knots, with the high demand sending prices skyrocketing into the million dollar stratosphere.

Located 10 km south of the CBD, Maroubra is well serviced by schools and transport, with a campus of the University of New South Wales located nearby.

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One beach south along the coast from Coogee, Maroubra is quieter and less densely populated than its neighbour Bondi. Its beachfront promenade sports only a few cafes, rather than a hectic waterfront strip, and its laidback, down-to-earth atmosphere is favoured by families.

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While the beachfront is not nearly as developed as other Eastern Suburbs beaches, its white sands and renowned surf breaks prove attraction enough. Its main shopping hub, Maroubra Junction, is located along with main artery of Anzac Parade, which contains a large shopping complex with all amenities, eclectic eateries and a host of sporting clubs and facilities, highlighting the active nature of its residents.

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Highlighting its rapid development in the 1920s, classic California bungalows and solid brick homes are the most common in the area. The ‘60s and ‘70s saw the construction of numerous apartments, with many exclusive residences springing up, reflecting the area’s increasing stature.

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Just 2km east of the CBD, this picturesque, diminutive harbourside enclave is one of Sydney’s most charming, with its elegant architecture reflecting its early heritage. Many Elizabeth Bay properties enjoy spectacular harbour views either back to the city or north across Rushcutters Bay.

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Built between 1835 and 1839, landmark Elizabeth Bay House was designed by the most fashionable and accomplished architect of the day, John Verge, for the Colonial Secretary, Alexander Macleay. Set proudly above Arthur McElhone Reserve overlooking the harbour, it now provides an elegant setting for functions and exhibitions.

While Elizabeth Bay itself has only a local corner store and a couple of funky cafes, it’s surrounded by the dining and entertainment meccas of Kings Cross and Potts Point.

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As a particularly high-density area, Elizabeth Bay is home primarily to gracious apartments built between the 1920s and ‘40s. Freestanding homes are rare, but the several that are found here are some prize pieces of real estate, including Billyard Avenue’s waterfront Spanish mission residence, ‘Boomerang’, which once set the record for Australia’s highest property price and notably featured in Mission Impossible 2.

During the height of Sydney’s urban development prior to the Olympics, a number of local hotels such as The Sebel, The Manhattan and The Gazebo were all redeveloped as luxury apartments to cope with soaring demand for inner city property.