{"id":41246,"date":"2022-12-20T08:50:26","date_gmt":"2022-12-19T19:50:26","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=41246"},"modified":"2022-12-20T08:50:26","modified_gmt":"2022-12-19T19:50:26","slug":"32-9m-separates-nsws-cheapest-and-priciest-streets","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/32-9m-separates-nsws-cheapest-and-priciest-streets\/","title":{"rendered":"$32.9m separates NSW\u2019s cheapest and priciest streets"},"content":{"rendered":"

PHOTO: Estate Agent Claudia Portale on Ruby St in Mosman, one of NSW\u2019s most expensive streets. Picture: Christian Anstey<\/strong><\/p>\n

\n

A rollercoaster of booms and busts has produced an extreme divide across the NSW housing market, with a staggering $32.9m gap in the average price of homes on the cheapest and most expensive streets.<\/p>\n<\/div>\n

Analysis of 2022\u2019s priciest and most affordable streets for home seekers showed Harbour suburb Point Piper<\/a>\u2019s Wolseley Rd\u00a0reclaimed its crown\u00a0<\/a>as the country\u2019s most expensive street.<\/p>\n

\"The<\/a><\/div>\n
\n
\n

Rags-to-riches story ends in $30 million house sale in Point Piper<\/a><\/h2>\n<\/header>\n<\/div>\n

A typical home on the 1km street, which sits on the west side of the Point Piper peninsula and has gun barrel views of the Harbour Bridge, CBD and Opera House, costs $33m.<\/p>\n

\"Point<\/a><\/div>\n
\n
\n

Millennials plan \u2018most expensive house in Australia\u2019 on $99.5 million Point Piper site<\/a><\/h2>\n<\/header>\n<\/div>\n

The street is one of at least 20 NSW roads, mostly in Sydney, where it costs more than $10m to snap up a home, according to the Valuer General data analysed by Ray White Economics.<\/p>\n

\n
\"An<\/div>\n

An aerial view of Wolseley Rd, Point Piper – Australia\u2019s most expensive street.<\/strong><\/em><\/div>\n

\n
\"Wolseley<\/div>\n

Wolseley Rd\u2019s location allows for stunning Sydney views.<\/strong><\/em><\/div>\n

At the other extreme, properties on the cheapest street, Dangar St in outback town Pilliga in northwest NSW, cost $38,250 on average, more than 600 times cheaper than on Wolseley Rd.<\/p>\n

Similar prices were on offer on the curiously named Bogan St in the town of Bogan Gate in the Parkes Shire region in central western NSW, where the median is about $39,000.<\/p>\n

\"Socialite<\/a><\/div>\n
\n
\n

New eastern suburbs real estate record after paying $29.2million<\/a><\/h2>\n<\/header>\n<\/div>\n

These price gaps were easily the largest of any state and experts said they were a reflection of\u00a0erratic growth in the housing market.<\/p>\n

Prices across the market as a whole fell by an average of about 6 per cent this year, with regional areas recording the sharpest falls<\/p>\n

\n
\"A<\/div>\n

A view of Bogan St in Bogan Gate, one of NSW’s cheapest streets to buy a home.<\/strong><\/em><\/div>\n

These drops occurred as the top-end market (where few buyers purchase real estate with mortgages)\u00a0continued to grow<\/a>, resulting in wealthy buyers splurging record sums on Harbourside mansions.<\/p>\n

Among the recent sales on Wolseley Rd was the waterfront mansion Akuna, which\u00a0sold to Sydney FC chairman Scott Barlow for $45m<\/a>.<\/p>\n

\"\"<\/a><\/div>\n
\n
\n

Australia\u2019s richest 250: The top 10 biggest property powerbrokers revealed | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n

Many of the nearby mansions have sold for even higher figures and those able to afford the extravagant prices rub shoulders with some of the country\u2019s richest and most influential people.<\/p>\n

Past and present residents of the street include rich listers like Westfield chairman Frank Lowy, Hungry Jacks founder Jack Cowin and recruitment queen Julia Ross.<\/p>\n

\n
\"A<\/div>\n

A mansion on Tivoli Ave, Rose Bay – the second most expensive street.<\/strong><\/em><\/div>\n

Ray White economist William Clark said the streets with the highest prices usually shared the same traits.<\/p>\n

They often had a north facing aspect, large blocks, waterfrontage and had quiet surroundings near beaches or national parks. They were also within a close radius of the Sydney CBD or other hubs rich with amenities.<\/p>\n

The most affordable streets were the opposite, Mr Clark said. \u201cThey usually have small blocks, little privacy, noise pollution or some kind of trade off like a main street in a remote town,\u201d he said.<\/p>\n

NSW\u2019s second most expensive street with a median price of $22.6m was Tivoli Ave in Rose Bay, with the homes offering a similar outlook to Point Piper, albeit from 3km east.<\/p>\n

\n
\"Ray<\/div>\n

Ray White agent Angela Saidi sells homes on Drummoyne Ave, Drummoyne, the inner west\u2019s most expensive street.<\/strong><\/em><\/div>\n

With a median street value of $13.3m,\u00a0the lower north shore\u2019s most expensive\u00a0<\/a>street this year was Ruby St in Mosman.<\/p>\n

Agent Claudia Portale of McGrath Lower North Shore, who has sold numerous properties on Ruby St, said the small street is dominated by historic homes on considerable blocks.<\/p>\n

\u201cIt\u2019s a prestige location. The people there are usually either really wealthy or old money. A home there has always had a special tag attached to it,\u201d Ms Portale said.<\/p>\n

She added that it was among the rare spots in Mosman with an elevated outlook, city views and a north facing aspect. It was also within walking distance of Mosman village \u2013 rare for luxury homes in the area.<\/p>\n

\u201cThere are not a lot of homes on the street and they are extremely tightly held,\u201d Ms Portale said. \u201cBuyers will pay more when something comes up because they don\u2019t know when they will next get the chance.\u201d<\/p>\n

\n
\n
\n
From castles fit for a royal, to interesting colour combos, these are the weirdest and wildest listings that hit the market in 2022.<\/div>\n<\/div>\n<\/div>\n<\/div>\n

The inner west\u2019s most expensive street was Drummoyne Ave in Drummoyne \u2013 another street with ample waterfront blocks. The median street price was $12.1m.<\/p>\n

Agent Angela Saidi, an expert in the area, said Drummoyne Ave was one of the few inner west streets with both water views and a north aspect.<\/p>\n

\u201cIt\u2019s got some beautiful mega homes, mostly historical homes, but they rarely come up for sale. Even the units only come up for sale occasionally and there\u2019s a lot of people who want them.\u201d<\/p>\n

MOST EXPENSIVE STREETS IN NSW (by median street price)<\/b><\/p>\n

Wolseley Rd, Point Piper $33m<\/p>\n

Tivoli Ave, Rose Bay $22.6m<\/p>\n

Carrara Rd, Vaucluse $17.84m<\/p>\n

Marine Pde, Byron Bay $14.25m<\/p>\n

Ruby St, Mosman $13.3m<\/p>\n

Wunulla Rd, Point Piper $13.22m<\/p>\n

Vaucluse Rd, Vaucluse $13.16m<\/p>\n

Eastbourne Rd, Darling Point $12.62m<\/p>\n

Drummoyne Ave, Drummoyne $12.1m<\/p>\n

Thompson St, Tamarama $12m<\/p>\n

Wentworth Rd, Vaucluse $11.5m<\/p>\n

Gilliver Ave, Vaucluse $11.23m<\/p>\n

Kambala Rd, Bellevue Hill $11m<\/p>\n

Canberra Ave, St Leonards $10.77m<\/p>\n

Lang Rd, Centennial Park $10.7m<\/p>\n

 <\/p>\n

CHEAPEST STREETS IN NSW (by median street price)<\/b><\/p>\n

Dangar St, Pilliga $38,500<\/p>\n

Bogan St, Bogan Gate $39,950<\/p>\n

Irrigation Rd, Menindee $51,250<\/p>\n

Munnell St, Gulargambone $59,900<\/p>\n

Old Punt Rd, Swan Bay $60,000<\/p>\n

Woore St, Wilcannia $60,000<\/p>\n

Kook St, Darlington Point $60,000<\/p>\n

Three Mile Rd, Lightning Ridge $66,500<\/p>\n

Green St, Cobar $68,000<\/p>\n

Mullah St, Trangie $68,500<\/p>\n

Railway Pde, Gravesend $69,500<\/p>\n

Canada St, Lake Cargelligo $72,500<\/p>\n

Lakeview Ave, Sunset Strip $73,000<\/p>\n

Milthorpe St, Oaklands $75,000<\/p>\n

Wortumertie St, Bourke $75,000<\/p>\n

Source: Ray White Economics<\/i><\/strong><\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

MOST POPULAR<\/span><\/h3>\n