PHOTO: In Sydney the gap between top and bottom end of the market is most pronounced.

Sydney’s sparkling harbour and stunning beaches make it one of the world’s most desirable cities in which to live. But the huge price gap between a house with harbour views or near a beach and a typical house in a Sydney suburb contributes to Sydney’s property market being Australia’s most unequal.

The same applies to apartments in the harbour city, with a much wider gap between top-end apartments and cheap options than in other capital cities. Melbourne has the second-most unequal property market. Somewhat surprisingly, Hobart also has an unequal unit market.