A typical house in Australia’s most expensive street costs a jaw-dropping $45m — a $12m jump in just a year — with eight of the top 10 priciest addresses located in Sydney’s ritzy Eastern Suburbs.

The Harbour City’s Wolseley Rd, Point Piper easily took the crown, with the eye-watering median sales price far outshadowing its interstate contenders.

Uber-rich residents of the prized strip rarely let go of their postcard-perfect Sydney Harbour views — though Wolseley Rd’s most high-profile listing to date is yet to secure a buyer with sufficiently deep pockets.

Aussie Home Loans founder John Symond’s Point Piper mega mansion

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Aussie Home Loans founder John Symond’s Point Piper mega-mansion across four blocks of prime waterfront backing onto Wolseley was tipped to fetch $200m-plus, smashing the current national home price record of $140m.

Of recent neighbouring sales, property records show Sydney FC owner Scott Barlow and his socialite wife Alina sold their trophy home at 20 Wolseley Rd for $60m in June 2023 — an uptick of $15m from when they bought it just one year prior.

Wentworth St, Vaucluse was the nation’s second richest street with a median of $23.8m, then Ginahgulla Rd and Kambala Rd in Bellevue Hill and Lang Rd, Centennial Park — each with a buy-in above $20m.

John Symond at home in Point Piper

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Houses in Melbourne’s most expensive street, St Georges Rd, Toorak, averaged $16,930,000, earning the exclusive stretch sixth place in the national round-up by Ray White.

Australia’s youngest billionaire Ed Craven paid a record $80m for an unfinished mansion on St Georges Rd in 2022, with the 28-year-old founder of cryptocurrency casino empire Stake.com recently unveiling plans for a $150m estate to be built across the 8,000 sqm prime site.

Ray White Group senior data analyst Atom Go Tian said Australia’s richest streets showed remarkable “geographic concentration”, with eight of Sydney’s top 10 within a 20-minute walk of the coastline.

Ray White Group senior data analyst Atom Go Tian

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“The magnitude of the diference between the top three most expensive streets between major cities is striking: Sydney’s most expensive streets are almost six times more expensive than the leading streeets in Brisbane, Perth and Canberra,” he said.

“The geographic distribution of premium streets follows distinct patterns within each city as well.

“If Sydney’s most expensive streets are concentrated in the eastern suburbs, Melbourne’s are largely concentrated around Toorak, an affluent inner suburb known for its leafy streets and proximity to the city’s business districts.

“Brisbane stands out for its more dispersed luxury market, with premium streets spread across Teneriffe, Hawthorne, and Bulimba.”

Australia’s most expensive streets. Supplied: Ray White

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Cheapest streets by city. Supplied: Ray White

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The River City’s richest address was Macquarie St, Teneriffe, with a buy-in of $6.9m, while in Perth, a typical house on Jutland Pde, Dalkeith costs $6.35m.

Canberra’s top street is National Cct, Deakin — median price $4.425m, Adelaide’s is Church Tce, Walkerville — $3.42m, Hobart, Red Chapel Ave in Sandy Bay at $2m, while East Pnt, Fannie Bay is Darwin’s priciest at $1,812,500.

Meanwhile, the Top End hosts all ten of the country’s cheapest streets, with houses in the bottom three all priced around $100,000. They are Ringwood Street, Austin Street, and Kersley Street, all in Southport.

Crypto billionaire Ed Craven bought this unfinished mansion on St Georges Rd, Toorak. Picture: Jake Nowakowski

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“This geographic pattern appears to be the inverse of what drives premium property values in Australia’s most expensive locations,” Mr Go Tian said.

“While Sydney’s premium streets achieve their status through proximity to both natural attractions and urban amenities, Darwin’s most affordable streets reflect their distance from economic centres.

“The properties’ location in Darwin — Australia’s smallest capital city — combined with their peripheral positioning in the city’s outskirts, creates conditions for markedly lower valuations.”