Perth’s least and most expensive streets revealed,
Location is everything, but what cost? In Australia’s priciest street, a typical home demands $45 million from buyers.
Wolseley Road, located along the harbourfront in Sydney’s Point Piper, has been named the country’s most expensive street.
In Perth, the title belongs to Jutland Parade in Dalkeith, where the median house price is $6.35 million.
This street is uniquely positioned on a peninsula, surrounded by water on three sides, with minimal traffic flow.
Following Jutland Parade, two streets in Mosman Park made the list: Saunders Street at $5.8 million and Colonial Gardens at $5.7 million.
Many of these expensive locations are near coastlines an
d city centres, offering a natural environment and easy work commutes.
Ray White senior data analyst Atom Go Tian noted that water access isn’t limited to coastal cities like Sydney or Melbourne.
The key is finding a balance between proximity to water, nature, and the convenience of urban living.
In Perth, luxury real estate is concentrated in the Mosman Park and Peppermint Grove areas, with Dalkeith’s Jutland Parade commanding $6.35 million.
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Ray White Dalkeith/Claremont sales executive Laura Johns mentioned that both suburbs are located by the river, near private schools, and offer large blocks.
She explained that Mosman Park residents are mostly locals, while Dalkeith attracts a mix of locals and international migrants to Perth.
While Mosman Park is farther from the city, it’s close to Fremantle, which some people find desirable.
On the other hand, Dalkeith is preferred by those who need to be close to the city for work.
Notable sales in the area include 89 Watkins Road, Dalkeith, which sold for $27.5 million in 2020.
More recently, 59 Keane Street, Peppermint Grove, transacted for $20.1 million in April of this year.
Typically, calculating a suburb’s median house price requires at least 50 sales over 12 months. However, for the priciest streets, research considers streets with at least five sales over three years.
The research doesn’t account for trophy homes that would sell for much higher sums if they hit the market.
Tian noted that the difference between the top three most expensive streets in major cities was significant.
Sydney’s most expensive streets are nearly six times more expensive than the leading streets in Perth, Brisbane, and Canberra.
Sydney dominates the luxury market with nine of Australia’s top ten most expensive streets. In contrast, Darwin holds all 10 of the cheapest streets.
Perth holds the second-lowest entry point, with streets ranging from $265,000 to $280,000, while other cities cluster between $300,000 and $450,000.
The cheapest streets in Perth are located in the south-east growth corridor, led by Thomas Street in Armadale at $265,000.
Following that are Seaforth Avenue in Gosnells at $275,000 and Beacham Crescent in Medina at $280,000.
According to CoreLogic, Perth continues to lead the nation in capital gains, with home values up 1.1 percent over the past month.
Over the rolling quarter, values are 3 percent higher, marking continued growth in the Perth property market.
However, CoreLogic research director Tim Lawless noted that this was the slowest rise in three months since April 2023.
The rate of growth is now less than half of what was recorded during the June quarter, which was 6.7 percent.
The downturn is gaining momentum in Melbourne and Sydney, with the mid-sized capitals also showing signs of losing momentum.
