Sydney’s Point Piper and Melbourne’s Toorak may be some of Australia’s most desirable postcodes, but in terms of the nation’s most sought-after streets, buyers are after specific qualities.
When it comes down to the most in-demand streets in Australia’s capital cities, the trifecta of luxury properties, spectacular views and nearby amenities has proven a winner with buyers, new data from realestate.com.au shows.
“Luxury homes are always going to attract eyeballs but when it comes to sealing the deal on a new home, buyers are looking for more than just premium, inner-city property,” said realestate.com.au chief economist, Nerida Conisbee.
The most in-demand streets were ranked by the number of views per listing within a suburb over the past three years. Streets with less than fives homes for sale over that period were excluded from the analysis, meaning some of Australia’s most tightly-held enclaves don’t feature.
- Use the interactive below to find out the 10 most in-demand streets in your suburb
While we tend to think of the “best” streets as being in the most expensive suburbs, this isn’t always the case.
“All suburbs have nice streets, but often the most highly sought-after streets have something special about them,” Ms Conisbee said.
“The houses may be particularly nice, or it may be that the views are amazing; it could be located close to a beach or a great retail precinct; the blocks may be particularly large or it may be a very friendly neighbourhood. There are a lot of factors that define a great street.
“Major arterials in some suburbs will often see lower demand than other areas that are quieter. Ultimately, it depends on where you are and what buyers are looking for in that suburb,” she said.
City home hunters dreaming about luxury, views and amenities
Ms Conisbee said it’s not surprising that when you look at the most in-demand streets in each capital city, the data skewed towards luxury housing in premium suburbs.
“The fact that we see so many views for homes on these streets is probably due to people dreaming about their ideal home, not just to rent or buy a home,” she explained.
- Scroll through to discover the most in demand street in each Australian capital city
He said that while the majority of the most-viewed streets in capital cities were more expensive, their geographic locations were quite varied, suggesting home buyers are craving more than just a top location on the city’s doorstep.
“In Sydney, the most in-demand street is in Rose Bay, which is a harbourside suburb. In Melbourne, it’s in Wheelers Hill, which is further out [from the city]. Brisbane’s most sought-after street is in Clear Mountain, a palatial spot with large lots further away from the city centre, similar to Aldgate for Adelaide’s most in-demand street,” Mr Kusher said.
The data also revealed a sweet spot with the combination of nice views and reasonable proximity to amenities proving a winner.
The home at 1 Fairview Avenue is on a large block and has views of the Mount Dandenong Ranges. Picture: realestate.com.au/buy
Fairview Avenue, an exclusive enclave in Wheelers Hill, in Melbourne’s south-east – which some people refer to as the Toorak of the east – was revealed as the most sought-after street within 30 kilometres of Melbourne CBD with an average of 7,102 views per listing over the past three years.
The median house price in Wheelers Hill last year was $1,106,500.
Joan Eu, sales associate at Harcourts – Judd White, is currently marketing the home at 1 Fairview Avenue and said she’s not surprised the street ranked as one of the most popular in the country.
“If you take a drive down [Fairview Avenue] you will see the reason why, because all the houses are on bigger blocks, about half an acre, and [there are] beautiful gated properties, long driveways… there aren’t many places like that,” Ms Eu said.
“When you think of the value, where would you get half an acre in Toorak for the same kind of money?”
Ms Eu said the coveted street was close to one of the highest points in Melbourne so the homes had views while also being close to schools and lifestyle amenities.
“Wheelers Hill is lovely and hilly and it’s got fantastic mountain views if you get the right location, like Fairview Avenue, most of the properties would have views of the [Mount Dandenong Ranges],” she said.
“It is also near Jells Park, the golf course, and you’re not far from the local shops including The Glen Shopping Centre, which is only a 10-minute drive. You’ve got Caulfield Grammar and Wesley College in terms of private schools in the same postcode.”
In Sydney Tivoli Avenue in Rose Bay was the most in-demand street within 30 kilometres of CBD with an average of 4,812 views per listing over the past three years.
The Spanish Mission-style home at 6 Tivoli Avenue attracted interest from abroad with its harbour views. Picture: realestate.com.au/sold
Jamie Upton, global real estate advisor at Sydney’s Sotheby’s International Realty – Double Bay, said Tivoli Avenue is “the Wolseley Road of Rose Bay”.
“What Wolseley Road is to Point Piper, Tivoli Avenue is to Rose Bay, for the views and the grand homes,” she said.
“They’ve got the best houses along there… it’s not uncommon for the trophy homes on that street to sell for between $10 million and $45 million.
Interestingly, Wolseley Road – Australia’s most expensive street – was pipped at the post by Point Piper’s Wyuna Road, where listings on average had more views in recent years.
In terms of Tivoli Avenue, Ms Upton said “it’s the views and the fact that a lot of properties are waterfront or have gun-barrel bridge and harbour views. It’s the aspect.”
The median property price in Rose Bay over the past 12 months is $3.2 million for houses to $1.3 million for units.
Ms Upton sold a Spanish Mission-style home at 6 Tivoli Avenue in February this year and said the interest was so “far-reaching” that she even had a couple fly from New York to inspect the home.
Luxury lifestyle is streets ahead for regional home buyers
When it comes to what buyers want outside of the big cities, it’s no surprise to see some of Australia’s most well-known lifestyle spots pop up on the list.
The data had Beachfront Mirage Drive in Port Douglas as one of the most in-demand, non-city streets in the country, with an average of 6,032 views per listing.
The architect-designed home at 28 Beachfront Mirage Drive offers a tropical haven for those escaping Melbourne and Sydney winters. Picture: realestate.com.au/buy
The median house price in Port Douglas is sitting at $636,000, while units are typically half that price at $295,000.
Callum Jones, licensee at Real Estate Port Douglas, who is currently marketing the home at 28 Beachfront Mirage Drive said the exclusivity of the street was a big drawcard.
“It’s within the [Sheraton] Mirage grounds, you’ve got 47 lots, it’s a gated estate and they’re all very large homes,” Mr Jones said.
“They’re mostly family retreats and holiday homes, people escaping the Melbourne and Sydney winters. People come up here and have a large home that they use two to three months a year.”
It seems home hunters on the opposite side of the country also have a taste for opulent living.
St Alouarn Place in Western Australia’s Margaret River also ranked as one of the most in-demand non-city streets in Australia with an average of 4,966 views per listing.
This home at 38 St Alouarn Place is situated on one of Australia’s most popular streets. Picture: realestate.com.au/buy
The median sale price in Margaret River is $455,000 for houses and $309,500 for units.
Mitch Thawson of Mack Hall Real Estate is currently selling the home at 38 St Alouarn Place, which he described as “one of the best properties in the south-west”. He said the street is not long, but it winds down to a cul-de-sac with stunning views along the way.
“You can see really long stretches of the Margaret River itself and then you can also see out to the ocean… the views across the other side of the river look straight across to national park, basically. It’s pretty awesome.”
Mr Thawson said it’s “a pretty expensive neck of the woods”, which attracts a mix of buyers. He referred to one of the homes in St Alouarn Place as “Models Inc.” because the couple who live there are both former models.
“Then there’s a guy [who lives a few doors down] who is one of the world’s best professional surfers,” he added.
Celebrity factor appears to be a common theme across the most in-demand, non-city streets, with Marine Parade in the celebrity enclave of Byron Bay also ranking high with an average of 4,844 views per listing.
Perhaps living nearby to Chris Hemsworth or bumping into Zac Efron on his morning coffee run is part of the appeal.
The celebrity enclave of Byron Bay is home to one of the most sought after streets in regional Australia. Picture: Getty.
Byron Bay’s median property price over the past year is $1,404,000 for houses and $732,500 for units.
Which streets will be popular post-COVID-19?
Ms Conisbee said home buyers are likely to be more focused on where they live after spending more time at home during coronavirus lockdowns.
“In choosing a street, it is likely that more of us will be looking for space and amenity. These have always been the things that people tend to focus on, however, it is likely it will become an even greater focus,” she said.
In terms of spending big on luxury properties, Mr Kusher said he doesn’t expect this will slow post-COVID-19.
Home buyers will likely be looking for more space after COVID-19, after being cooped up during lockdowns. Picture: Getty
“We are still seeing transactions occurring for premium property,” Mr Kusher said.
“Although we are in a recession, it is overwhelmingly younger people that are being impacted, to be sure. Some owners of premium property are being impacted but there is little evidence at this stage to suggest significant price falls across premium property [post-COVID-19].”
He added that having more space and land in the aftermath of COVID-19 will likely become more important for home buyers, which could lead to people looking at properties in streets further from the city centre in already popular regional areas.
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