Point Piper is a small, affluent harborside eastern suburb of Sydney, in the state of New South Wales, Australia, 6 kilometres (4 mi) east of the Sydney CBD, in the local government area known as the Municipality of Woollahra. Point Piper has been historically regarded as one of Australia's most expensive suburbs. It is currently the second-wealthiest suburb by taxable income behind the Melbourne suburb of Toorak. In 2011, Wolseley Road was ranked as the ninth-most expensive street in the world, at $38,900 per square meter.