Wolseley Road in Sydney, a nearly 1km-long street lined with lavish waterfront properties, is Australia’s most expensive street.
That is according to brokerage Ray White, which collected the data between November 2019 and November 2022.
A typical home on that road in the posh eastern Sydney suburb of Point Piper, costs $33 million, which is more than 40 times the national median, Global Mansion reported.
According to the Ray White report, the NSW capital of Sydney is home to seven of the top 10 most expensive streets in Australia.
Another eastern Sydney suburb, Tivoli Avenue in Rose Bay, snatched the second priciest street ranking, with a median house price of $22.6 million. This was followed by Carrara Road, in Vaucluse, just north of Tivoli Avenue, where the median house price was $17.844 million.
“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,” the report said.
“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.”
Outside of Sydney, the Melbourne suburb of Linlithgow Road in Toorak housed the largest property price tags, where the median house price was $16.25 million, Mansion Global reported.
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