Hedges Ave crowned Gold Coast’s most expensive street in new data

While most Australians struggle with housing affordability, one Gold Coast street boasts a median price tag of $11.1 million – more than 30 times the national average.

The Gold Coast’s own ‘Millionaire’s row’ is back on top.

Hedges Ave in Mermaid Beach is again the city’s most expensive address, with new data revealing the region’s richest streets, based on median value.

Ray White Group data released on Thursday shows a top-10 list dominated by the city’s most exclusive waterfront enclaves, including Hedges and Albatross Ave, Paradise Waters and the Sovereign Islands.

Hedges Ave in Mermaid Beach has reclaimed its title as the Gold Coast's most expensive street. Picture Glenn Hampson

Hedges Ave, which topped the 2024 list, has a median value of $11.1m, up from $10.35m last year, followed by Albatross Ave on an unchanged $9.75m and Palm Beach’s Jefferson Ln coming in third at $8.1m, up from $7.8m in the same period.

Hedges Ave, Mermaid Beach

Ray White Group senior data analyst Atom Go Tian said the Gold Coast’s most expensive streets were all linked to waterfront property.

“The prestige market is heavily concentrated along the coastline and on the waterfront, the prices go much higher,” he said.

Hedges Ave is known as the Gold Coast’s ‘Millionaire’s Row’ Picture Glenn Hampson

“The street prices there are three to four times more expensive because they carry a further premium being close to the water and having more luxurious developments.

“We are seeing these trends continue.”

Paradise Waters. Picture: Jerad Williams

Rounding out the top 10 are Cronin Island’s Southern Cross Dr ($7.07m), Paradise Waters’ Admiralty ($6.6m) and Commodore drives ($6.5m), Hollywell’s Abel Tasman Pl ($6.2m), Hope Island’s Edgecliff Dr ($5.8m), Bilinga’s Pacific Pde ($5.5m) and Paradise Point’s Knightsbridge Pde on the Sovereign Islands ($5.4m).

Off the list from 2024 are Hope Island’s Arnold Palmer Dr, Sovereign Islands’ Hampton Ct and Bundall’s Freyburg St.

Mr Go Tian said streets becoming known for being among the most expensive also added to their reputation.

Jefferson Lane

“It is the same across Australia that these streets become established as premium luxury addresses and the status then follows them,” he said.

“It becomes part of the brand of the street and you want that name in your address book and the longer they are seen as exclusive streets, the greater legacy they have.

“The increase in values speaks to the Gold Coast overall which is growing quickly and I would be surprised if these streets were left out of that growth.”

It caps off a significant year of growth for the Gold Coast’s real estate sector.

Property prices and sales remain strong, with the amount of available property at a premium also driving prices higher.

In Rainbow Bay, investors who bought units in several developments off-the-plan just four years ago have now sold them for almost double the original price.

Originally published as Hedges Ave crowned Gold Coast’s most expensive street in new data