What is the most expensive street in Australia? Here are the top 100

• Over half the list comprises Sydney streets
• Melbourne has the next most streets on the list
• Popular beachside locations like Byron Bay also feature

Australian house prices have not moved much compared to the rest of the world, with Knight Frank’s Global House Price Index Q3 2022 ranking Australia’s house price rises in nominal terms at 47th out of 56; that is a 1.5% price rise, with real price growth, adjusted for inflation, recorded at down 5.4%.

House price changes by city also saw Sydney record some of the largest falls in the world, making up the top 10 declines:

1. Wellington, down 17.3%
2. Auckland, down 11.2%
3. Buenos Aires, down 9.8%
4. Hong Kong, down 7.1%
5. Wuhan, down 6.1%
6. Tianjin, down 4.4%
7. Zhengzhou, down 3.9%
8. Sydney, down 3.6%
9. Darwin, down 3.1%
10. Aberdeen, down 2.4%

House prices skyrocketed, with the top three cities seeing shocking price surges of over 100%. While the top three cities were all in Turkey, the remainder were scattered across Florida, South Australia, the Middle East, northeastern Europe, and Iceland.

1. Istanbul, up 212.1%
2. Ankara, up 196%
3. Izmir, up 185.8%
4. Miami, up 28.6%
5. Riyadh, up 25%
6. Vilnius, up 25%
7. Tallinn, up 23%
8. Adelaide, up 21.3%
9. Skopje, up 21.2%
10. Reykjavik, up 20.7%

Luxury market poised for growth

Many parts of Australia are seeing excellent levels of growth from one year to the next.

According to Knight Frank, Perth luxury prices grew 10.5% in 2021 and were forecasted for a further 6% in 2022.

In The Property Tribune’s coverage of Perth’s luxury market in 2022, Mack Hall, of Mack Hall Real Estate, said the prestige market in Perth has been strengthening in recent years, but still with room to grow.

“If you look at how the city’s luxury market compares to other Australian cities, it’s evident that it is really only just gearing up, with big scope for further growth in the future.”

Mack Hall, Mack Hall Real Estate

Mr Hall attributed growth opportunities to the reopening of the borders and said greater arrivals of interstate and overseas investors would drive greater demand for luxury residential property.

The number of ultra-high-net-worth individuals in Perth has risen dramatically in recent times, up 10.5% in 2021. By 2026, this number is expected to grow to 2,408 individuals, equating to a further 23% growth.

Late last year, The Property Tribune also reported on the strength of the Sydney luxury market, despite the downward trends in the property market more broadly.

Of course, some have been driven away due to the astronomic prices Sydney is achieving, with others looking to townhouses as a middle ground between apartment living and a standalone house to get a taste of luxury Sydney living in some of the most exclusive postcodes in Australia.

Australia’s most expensive streets

1. Hallstrom Close, Northbridge, 2063, NSW
2. Dunara Gardens, Point Piper, 2027, NSW
3. Belah Avenue, Vaucluse, 2030, NSW
4. Belah Gardens, Vaucluse, 2030, NSW
5. Beach Avenue, Vaucluse, 2030, NSW
6. Marine Parade, Byron Bay, 2481, NSW
7. John Dykes Avenue, Vaucluse, 2030, NSW
8. Parsley Road, Vaucluse, 2030, NSW
9. The Crescent, Vaucluse, 2030, NSW
10. Myall Avenue Vaucluse, 2030, NSW

Hallstrom Close

Suburbtrends data showed houses on the street had a median bedroom count of five, with the houses typically sitting on 883 square metres of land (median site area). The buildings themselves were 321 square metres (median building area) with a median house value of $7,483,000.

Dunara Gardens

The street had a median bedroom count of four, with houses sitting on a land of around 662 square metres. The buildings were slightly smaller at 259 square metres, with a median house value of $7,290,000.

Belah Avenue

The median bedrooms for the street were five, with houses sitting on almost 600 square metres of land (median 596 square metres). The building area median was 227 square metres, with median house values for the street just over $7 million at $7,023,000.

Belah Gardens

Houses on this street typically had five bedrooms, sat on a land size of 571 square metres, and occupants enjoyed 200 square metres of living. The median price for the street was $7,016,500.

Beach Avenue

This Vaucluse street had a median house price of $6,935,000, with homes typically sprawling across 194 square metres on a 513 square metre block. The median number of bedrooms was four.

Marine Parade

Located in Byron Bay, the median house value for the street was $6,901,000, with houses typically having five bedrooms, sitting on a land size of 716 square metres, and offering 270 square metres of living space.

John Dykes Avenue

Houses along this street had a median number of bedrooms of four, with properties typically situated on a 583 square metre block. The median building size was 225 square metres, with the median house price at $6,899,000.

Parsley Road

Another Vaucluse street, median house prices here were $6,874,000. The median bedroom number was four, with 265 square metre houses sitting on a larger plot of 839 square metres.

The Crescent

The penultimate entry to the top ten had a median house value of $6,874,000, with properties sitting on a similarly large 838 square metre plot. Homes were larger with a median building size of 289 square metres, and five bedrooms.

Myall Avenue

Rounding out the top ten most expensive streets in Australia, properties sat on smaller lots, the median land size was 569 square metres with building median 208 square metres. typically home to four bedrooms, the median house price for the street was $6,765,000.

Sydney’s most expensive homes

Except for Northbridge, Point Piper, and Byron Bay, all of the top ten most expensive streets in Sydney were located in Vaucluse.

In 2020, the most expensive house sold in Sydney was located in Vaucluse, however was not located on an abovementioned street.

Weekly asking price for 2030 (incl Vaucluse)

42 Vaucluse Road in Vaucluse sold for $24.6 million in September 2020, with the five-bedroom, five-bathroom property sitting on a 1,085 square metre block of land.

Sydney’s most expensive home in 2018 was situated in Point Piper, but again, was not located on a street mentioned in the above list for top ten.

550 New South Head Road in Point Piper is owned by Atlassian co-founder Scott Farquhar, acquired for $71 million.

Weekly asking prices for 2027 (incl Point Piper)

The house, built in 1863, has seven bedrooms and five bathrooms and sits on a 6,986 sqm estate. The Fairfax family had turned down many higher offers from developers but John Brehmer Fairfax wished to sell the property in one line.

While most of the top 10 most expensive streets were mostly situated in Vaucluse, The Property Tribune’s 20 most expensive suburbs in Sydney ranked Vaucluse as the third most expensive suburb in Sydney, behind Point Piper and Tamarama.

Australia’s top 100 most expensive streets full list

Suburbtrends has ranked Australia’s Top 100 Streets, with Sydney comprising over half the list with 51 entries. Melbourne has 27 streets on the list, with Sunshine Coast and Byron Bay seeing 10 streets each, and Perth rounded out the list with two streets.

Suburbtrends founder Kent Lardner said this ranking highlights how much the top streets around Australia are concentrated in and around our beaches and Sydney harbour.

“Byron Bay and Noosa suburbs represented around 20% of the results which was rather
surprising. It highlights how much wealth now sits outside of the top suburbs of the capital cities”

Mr Lardner also noted that the methodology was not about selecting streets with one or two sales of mansions or streets with very large block sizes.

“We have selected streets with a significant number of houses with the highest overall median prices, rather than selecting a street based on the sale of one mansion. Our methodology has created a very different ‘top streets’ list representing streets with a significant number of high priced properties and surrounded by the highest priced homes in the country” he said.

“Home buyers, sellers and agents should know how a street ranks within a suburb, especially in todays market. For sellers and agents, this can help sell a home just like any other feature. For buyers, more listings are now entering the market compared to previous years. Knowing where the best streets are located can help you make better choices using a free street ranking search now available at suburbtrends.com”

Source: Suburbtrends.

Methodology

Suburbtrends started by compiling a list of house price estimates for every street in Australia.

The company subsequently removed streets that did not have price estimates for at least five properties and where the median lot size was over 2,000 square metres.

Suburb trends said that to ensure the results were not swamped by select few suburbs, streets were allocated to areas (Statistical Area 4 SA4) and a maximum quota of 10 streets per SA4 area was applied.