Australia’s most expensive streets

With record low interest rates and the emergence from a pandemic which saw household savings increase, both borrowing power and available deposits saw conditions for price growth more favourable than we’re likely to see again anytime soon.

Street sales, while reflecting the economic conditions and the attractiveness of the suburb in which they are located, represent a higher degree of luxury at the top end, and affordability at the lower end.

We see that while Sydney both tops the list and appears the most frequently in luxury streets, there are entries from both Melbourne in Toorak and Sunshine Coast with Arakoon Crescent in Sunshine Beach. Wolseley Road in Point Piper remains the most expensive street in the country, with a median sale price at more than 40 times the national median. Sydney’s eastern suburbs and Mosman on the north shore hold Sydney’s most expensive streets, while both of Melbourne’s most expensive streets belong in Toorak.

Australia’s most affordable streets fall well below the national median, with sales on Norseman’s Downing Street just over a thousandth of those on Point Piper’s Wolseley Road. Such affordability demonstrates an undercapitalised array of suburbs with ample investment access. While expensive streets typically attract a combination of water views, beach or national park access, access to a city centre and large lot sizes, the streets on the affordable list tend to have none of these features, and are likely to be located in a relatively isolated region with low commercial activity or local amenities. Affordable streets are located in a diverse range of states, with regional New South Wales, Western Australia, Queensland and Victoria all making the list.