Revealed: Qld’s 50 cheapest streets, and 50 most expensive

Homes in Queensland’s most expensive street hit a record median price over $10m, but there are still entire roads where you can buy as low as $79,000. EXPLORE 100 STREETS IN FULL LISTS

Brisbane’s 10 most expensive streets were spread across nine suburbs, but almost half its cheapest 10 were in one place.

Queensland’s most expensive streets hit record medians as high as $10m on the coast and almost $6m in Brisbane, but there are still affordable roads where home prices run as low as $79,000.

An analysis of the cheapest and most expensive streets by one of the nation’s biggest real estate agencies Ray White Group warned a major surge in prices post pandemic had driven up the cost of buying into Queensland’s most heavily populated areas.

Six streets outside of Brisbane are now supercharged with money no object for buyers in Hedges Avenue, Mermaid Beach where the median home price is a whopping $10.5m, Edgecliff Pl, Hope Island ($6.675m), Admiralty Dr, Surfers Paradise ($6.119m), Maryland Avenue, Carrara ($6m), Jefferson Lane, Palm Beach ($5.98m) and Mcanally Dr, Sunshine Beach ($6.05m).

The data looked at median home prices in entire streets across Brisbane, the Gold Coast, Sunshine Coast/Noosa, Cairns and Townsville to uncover the 10 cheapest and most expensive roads to live on.

Brisbane’s most expensive was Macquarie St, Teneriffe where the median home price was $5.85m, with roads in eight other suburbs in the top 10: Bulimba, East Brisbane, Chelmer, Cleveland, Indooroopilly, Hendra, Chandler and Hamilton – which had two, Markwell St ($4.625m) and Crescent Rd ($3.35m).

Ray White Group analyst William Clark says the gap between most expensive and cheapest streets is not narrowing despite prices rising even in the cheapest areas.

Ray White Group analyst William Clark said “the streets on this list are located in many diverse areas in Brisbane, which is a feature unlike most other cities in Australia”.

“With the most expensive streets in the past, we’ve seen a couple of entries from Ascot or New Farm but now it seems to be riverfront streets in a diverse array of suburbs. If someone gets waterfrontage, they’ll pay top dollar, it doesn’t matter where.”

He said the gap was widening between the cheapest and most expensive streets, though not nearly as terribly as it was in other major capitals.

“With Brisbane being a smaller city than Melbourne and Sydney, it doesn’t see the eye-watering disparity between the most expensive and most affordable properties,” he said.

“The streets that make the list are changing but I don’t think they’re getting any closer together. Streets that are further out, with smaller local economies, and a difficult commute will largely see prices set lower than those closer to the city. It is interesting to see the streets in Logan and Sunnybank depart the affordable list, where they were last year.”

The cheapest in South East Queensland was Ilumba St, Russell Island where the median price was $135,250, with the analysis showing it beaten in affordability by only four other streets in Townsville region in north Queensland: High St, Charters Towers City ($120,000), Spencer St, Macknade ($110,000), Mill St, Pentland ($95,000) and Mackay St, Pentland ($79,000).

About half of Brisbane’s 10 cheapest streets were now in one place – Russell Island – but the market was rapidly changing off major demand for affordable property, said real estate agent Mitchell Jamieson of LJ Hooker Bay Islands.

Russell Island in southern Moreton Bay contains the cheapest streets to buy into in South East Queensland.

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“We have experienced buyers consistently looking to sell on the mainland to purchase a more cost effective home (on the island),” he said. “The baby boomer market is still the main market as they can sell their property, buy here and set up balance funds for comfortable retirement living.”

He said land can be picked up for as little as $40,000 on the island, with move in ready homes now starting at just over $300,000.

“This island is still untapped and it offers incredible value and opportunities and bang for the buck. Cost of living can be fixed with a place like Russell Island.”

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Originally published as Revealed: Qld’s 50 cheapest streets, and 50 most expensive