The high price of living on the best street in every QLD region

They’re home to Australia’s rich and sometimes famous, but the difference in values across Queensland’s prestige streets can be millions. >QLD’s cheapest and most expensive streets revealed.

They are home to some of Australia’s mega rich and uber famous, but the difference in street values across Queensland’s prestige markets are miles apart.

New data from Ray White Economics has revealed the most expensive streets across each major region in Queensland, and they range from a family budget-friendly $1.12 million in Townsville to a jaw-dropping $7.05 million on the Gold Coast’s Millionaires Row.

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Ray White Economics analyst William Clark said the most expensive streets had a lot in common, including large lot sizes, privacy, access to the beach, parks or water, access to good amenities and views.

And that is true across the board for Queensland’s most expensive – and coveted – streets.

Hedges Avenue at Mermaid Beach boasts Queensland’s most expensive price tag, with the combined median average for the sought-after street a whopping $5 million more than the entire suburbs median house price.

And aerial view of Mermaid Beach Supplied

It is home to the likes of mining magnate and politician Clive Palmer, billionaire developer Bob Ell and Harvey Norman Queensland boss Stephen Cavalier.

And while the street average might be just north of $7 million, properties along the famed strip often sell for much higher prices, with Ell paying an eye-watering $22.6 million for his luxury pad in August last year.

Queensland’s second most expensive street is Witta Circle at Noosa Heads, which has also been home to some mega sales.

In August, a vacant lot sold for $13 million in the coveted enclave.

Witta Circle Noosa Heads is hot property

But the Queensland residential price record belongs to Webb Road in Sunshine Beach.

The view from the record-breaking house at Sunshine Beach

Earlier this year, a beach house on Webb Rd sold for a jawdropping $34 million in a secret deal, with the buyer widely rumoured to have been billionaire Gina Rinehart.

And just 3.7km away, a Noosa house on Picture Point Crescent sold under the hammer for a new auction record of $16.45 million in October.

Of Queensland’s top 10 most expensive streets, seven are located on the Gold Coast, three on the Sunshine Coast and one is located in Brisbane.

Maxwell St in New Farm was the Queensland capital’s most expensive street, boasting a median street price of $4.35 million.

New Farm Park. Picture: Liam Kidston

But outside of the booming southeast corner, buying into prestige markets in the regions is much more affordable, with many of the most expensive streets cheaper than some of the suburb averages in the hottest markets.

Toowoomba’s most expensive streets are Daniels Close, Middle Ridge ($1,142,500), and Prince Henry Drive, Price Henry Heights ($1,045,500).

Up north in Townsville, Alexandra Street in sought-after North Ward reigns supreme, with a median street value of $1.12 million – cheaper than the median sales price in 54 suburbs in Brisbane.

But the residential record for Townsville was set when a sprawling mansion with ocean views on Castle Hill, Townsville’s most expensive suburb, was snapped up for $6 million by 1300 Smiles boss Daryl Holmes earlier this year.

It eclipsed the previous record of $3.85 million set by a house on Stanton Terrace.

This hillside mansion holds the Townsville residential price record at $6m. Picture: Evan Morgan

Janice Gallagher of Janice Gallagher Real Estate said Townsville’s prestige market was still very affordable, and was attracting plenty of attention from southern buyers.

“I have buyers who have sold in Brisbane who are now shopping in the $2 million bracket, and I also have buyers from the Gold Coast, Sunshine Coast, Toowoomba and Brisbane,” she said.

“I recently sold to people from Melbourne who are now here in home quarantine.

“Over the past two weeks I have had about 15 calls from southern buyers, from as far away as Tasmania.

“They are either planning to work remotely, transfer jobs or retire, but they almost all just want to be closer to family.”

With Brisbane prices soaring, some sellers are cashing out and shifting to the regions, with plenty of cash leftover after buying a new home. Picture David Clark

The top street median in regional Queensland is currently held by Harbour Avenue in Shute Harbour, with $1.7 million.

Located in the Whitsundays, the suburb has a median house value of $1.373 million but the region as a whole has been popular with interstate buyers and Queensland sellers cashing out of overheated southeast markets.

In a tightly-held street, 33 Harbour Ave, Shute Harbour, sold for $1.9m in May

Hibiscus Lane at Holloways Beach holds the title as the most expensive street in Cairns, with a median street value of $1,332,500.

There was also two other million dollar-plus streets – Red Peak Rd, Carvonica ($1,073,606) and Harbour Drive, Trinity Park ($1,022,500).

Re/Max Cairns principal Ray Murphy said the Far North was still very affordable compared to the southeast corner and, as a result, more people were shifting to the region, buying a home and banking the rest.

“Cairns has everything that the major cities offer, and those (most expensive) streets are within proximity to the CBD and the homes are often larger and on bigger blocks with ocean, rainforest or city views,” he said.

“But they are a fraction of the price of what you can get in Brisbane.

“Why wouldn’t you move here if you can work remotely, avoid long commutes and have a comfortable lifestyle?”

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REA Group economic research executive manager Cameron Kusher said a million dollars can go a long way in the regions.

“You can live on that prestigious street in say Townsville, Cairns or Mackay without the huge price tags in places like Brisbane or the Gold Coast,” he said.

“But equally, a few million dollars in Sydney won’t go far, but it can get you much further in southeast Queensland.”

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CURRENT TOP SALES PRICE IN EACH STREET

(Recorded sales only; street may also have achieved a previous higher price)

BRISBANE: Maxwell St, New Farm

With commanding city views, this riverfront property was marketed as vacant block with an existing house on it. It sold for a whopping $9.91 million in December last year. It was bought by the Seymour Group.

This vacant block at Maxwell St, New Farm sold for $9.91 million

CAIRNS: Hibiscus Ln, Holloways Beach

On a 2679sq m block, this five-bedroom modern beach house has ocean views, and sold for $4 million in March, 2019.

Hibiscus Lane, Holloways Beach

GOLD COAST: Hedges Ave, Mermaid Beach

Bought for a mind-blowing $22.6 million in August 2020, this architecturally-designed beachfront estate has 30m of ocean frontage and a patrolled beach on its doorstep.

Hedges Ave Mermaid Beach

SUNSHINE COAST: Witta Circle, Noosa Heads

Sold for $11.25 million in June last year, this Hamtons-inspired house boasts waterway frontage and bushland views, and sits within one of Noosa’s most tightly-held and exclusive enclaves.

Witta Circle Noosa Heads

TOOWOOMBA: Daniells Close, Middle Ridge

On a 1011sq m block, this contemporary showstopper has four kingsize bedrooms and a stunning outdoor entertaining area. It sold for $1.15 million in November last year.

Daniells Close Middle Ridge

TOWNSVILLE: Alexandra St, North Ward

There have been higher sales achieved across the city’s blue-chip suburbs in recent years, but this Queenslander still holds the street record at $2.15 million, a benchmark set back during the previous boom in 2009.

Alexandra St North Ward

MACKAY/WHITSUNDAYS: Harbour Ave, Shute Harbour

Sold for $1.9 million in May, this residence has uninterrupted views of the Whitsunday islands and passage from all three levels through to Hamilton Island, Shute Harbour and Conway National Park Coastline.

Harbour Ave, Shute Harbour

(Source: Ray White, CoreLogic)