This is Australia’s number one million-dollar street

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Australia is home to some of the hottest real estate available.

And the global coronavirus pandemic and consequential economic recession is doing nothing to dampen spirits, and prices, in some of our most expensive areas.

Money BuildInstead Australia’s prestige property market is flourishing, with some suburbs even recording significant price growth in the past year.

Data compiled by realestate.com.au shows premium property prices remained strong in the 12 months to July this year.

Even the top end of the Melbourne market performed well with the elite suburb of Toorak sustaining almost 20 per cent growth to net a median price of $4.575 million in the 12-month period.

At the same time, the Northern Beaches suburb of Clontarf in Sydney recorded 27.6 per cent growth to land a median price of $3.8 million.

We know that the likes of Melbourne’s Toorak and Sydney’s Bellevue Hill and Darling Point take up the highest positions of the most expensive suburbs in Australia, but what about the most expensive streets?

Here I’ve put together a list of the top 10 most expensive streets in each of Australia’s big three capital cities.

Most expensive streets in Sydney

 Sydney’s real estate market is notoriously robust, so it’s unsurprising that it’s also home to several streets which some of the wealthiest people call home.

Which street comes out on top?

Palm Beach’s number 36 Ocean Road saw the largest reported sale at a huge $24 million in February this year, closely followed by a sale of 21 Ocean Road at $11.5 million in June and the sale of 6 Ocean Road at $12.51 million in August, according to Domain Group data.

But Point Piper’s Wolseley Road continues to be the strongest high-value suburb in the city with demand driving 14 sales over the course of 2020 so far at values as high as $13.025 million.

Here is a list of the top 10 Sydney streets with jaw-dropping properties, the richest of home owners and eye-watering property prices.

Ranking Street name Suburb Highest reported sale price for 2020 (million) % of properties sold over $1 million in 2020 (disclosed data only)
1 Ocean Road Palm Beach $24.0 100%
2 Wolseley Road Point Piper $13.025 100%
3 Hopetoun Avenue Mosman $9.05 100%
4 Bower Street Manly $8.8 100%
5 Coolong Road Vaucluse $5.5 100%
6 The Point Road Woolwich $9.0 100%
7 Louisa Road Birchgrove $3.5 100%
8 Victoria Road Bellevue Hill $5.6 76%
9 Chalmers Road Strathfield $3.625 100%
10 James Cook Is Sylvania Waters n/a n/a

Data Source: Domain.com.au

Most expensive streets in Melbourne

Over in Victoria, Melbourne also takes the title as home to some of Australia’s most expensive streets, most of which are in the elite suburbs of Toorak where the pavement is all-but lined with gold.

The suburb itself enjoyed a hike in prices over the last 12 months, with sales across six leading wealthy streets for as high as a whopping $10.725 million in Irving Road.

The same street, however, also saw sales below the $1 million mark which dragged down its wealthy status.

But there are also other Melbourne streets which make the cut.

Here I’ve put together a list of the city’s most prestigious addresses where only the wealthiest can afford to live.

Ranking Street name Suburb Highest reported sale price for 2020 (million) % of properties sold over $1 million in 2020 (disclosed data only)
1 St Georges Road Toorak $1.445 100%
2 Albany Road Toorak $6.2 100%
3 Towers Road Toorak n/a n/a
4 Clendon Road Toorak $1.849999 100%
5 Irving Road Toorak $10.725 66%
6 Hopetoun Road Toorak $8.0 100%
7 Seacombe Grove Brighton $7.25 100%
8 Glyndon Avenue Brighton $5.675 100%
9 Shakespeare Grove Hawthorn $3.15 100%
10 Monomeath Avenue Canterbury n/a n/a

Data Source: Domain.com.au

Most expensive streets in Brisbane

It’s not just major cities Sydney and Melbourne which dominate the top percentage of expensive houses, Queensland’s Brisbane also has some high-valued streets where property prices would knock your socks off.

Witta Circle and Mossman Court in Noosa Heads dominate the top of the list with sales as high as $11.25 million.

Here are the top 10 most expensive streets in Brisbane.

Ranking Street name Suburb Highest reported sale price for 2020 (million) % of properties sold over $1 million in 2020 (disclosed data only)
1 Aaron Avenue Hawthorn n/a n/a
2 Witta Circle Noosa Heads $11.25 100%
3 Mossman Court Noosa Heads $10.91 100%
4 Minyama Island Minyama $6.95 100%
5 Dickson Terrace Hamilton n/a n/a
6 Kootingal Street Ashmore n/a n/a
7 Wendell Street Norman Park $6.0 100%
8 Scott Street Kangaroo Point $4.375 100%
9 Wesley Court Noosa Heads n/a n/a
10 Austral St St Lucia n/a n/a

Data Source: Domain.com.au


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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit Metropole.com.au


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