Australia’s cheapest, most expensive streets revealed,
There is a massive $44-million gap between Australia’s cheapest and most expensive streets.
Wolseley Road in Point Piper, Sydney, has been named Australia’s most expensive street.
It boasts a median house price of $45 million, reflecting a significant 36% increase from the 2023 median price.
That price was $33 million just 12 months ago, marking a remarkable rise.
Interestingly, nine of the ten most expensive streets in Australia are located in Sydney.
The only exception to this trend is St Georges Road in Toorak, Melbourne.
Sydney’s most expensive streets are nearly six times more expensive than the top streets in Perth, Brisbane, and Canberra.
“There’s a clear reason Sydney remains so desirable,” said senior data analyst Atom Go Tian from Ray White Group.
Eight of Sydney’s top 10 streets are within a 20-minute walk of the coastline, indicating water proximity’s role in property value.
On the opposite end, Ringwood Street in Southport, Darwin, is Australia’s cheapest street.
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The average house on Ringwood Street costs only $100,000, making it one of the most affordable in Australia.
In fact, all ten of Australia’s cheapest streets are located in the outer suburbs of Darwin.
The highest concentration of affordable streets can be found in Southport and Zuccoli, which are notably budget-friendly.
“This pattern contrasts with what drives premium property values in Australia’s most expensive locations,” Go Tian explained.
While Sydney’s top streets owe their status to proximity to natural attractions and urban amenities, Darwin’s streets are different.
Darwin’s most affordable streets are located far from economic centres, which affects their property prices.
It takes almost an hour to drive from Southport to Darwin’s CBD, highlighting its distance.
On the other hand, East Point Road in Fannie Bay, the most expensive street in Darwin, is just eight minutes away.
