Revealed: Perth’s cheapest and most expensive streets to buy a home

Location, location, location – but at what price? In Australia’s most expensive street, the typical home will set buyers back $45 million.

The harbourfront Wolseley Road in Sydney’s Point Piper has been named the most expensive street in the nation, in Ray White research.

Perth’s crown went to Jutland Parade, Dalkeith, where the median house price is $6.35 million. The street sits on a peninsula and is surrounded by water on three sides with very little traffic.

It was followed by two streets in Mosman Park, Saunders Street ($5.8 million) and Colonial Gardens ($5.7 million).

Many of the pricey locales are close to coastlines and city centres, offering access to nature within an easy commute to work.

“It’s not just water – you could have access to water in Darwin or Hobart,” Ray White senior data analyst Atom Go Tian said.

“It’s really the balance between that access to water, nature and urban convenience.

“Perth’s luxury real estate concentrates in the Mosman Park-Peppermint Grove area, with Jutland Parade in Dalkeith commanding $6.35 million.”

Ray White Dalkeith/Claremont sales executive Laura Johns said both suburbs were located by the river, were close to private schools and offered large blocks.

“Mosman Park residents are often Perth locals whereas Dalkeith is a mix of locals and internationals who have migrated to Perth,” she said.

“Mosman Park is further away from the city but close to Fremantle which is desirable for some people, while others prefer Dalkeith as they need to be close to the city for work.”

Some of the biggest sales in the area include 89 Watkins Road, Dalkeith which sold for $27.5 million in 2020 and more recently 59 Keane Street, Peppermint Grove transacted for $20.1 million in April.

Calculating a suburb’s median house price would typically require at least 50 sales over 12 months. But for the most expensive streets, the research considers streets with at least five sales over three years. It does not measure trophy homes that would sell for huge sums were they to come to market.

Tian said the magnitude of the difference between the top three most expensive streets between major cities was striking: Sydney’s most expensive streets are almost six times more expensive than the leading streets in Perth, Brisbane, and Canberra.

He said while Sydney dominates the upper end with nine of Australia’s 10 most expensive streets, Darwin presents a mirror image, hosting all 10 of the country’s cheapest streets.

“Perth establishes the second-lowest entry point with streets ranging from $265,000 to $280,000, while Adelaide, Brisbane, Hobart, and Melbourne cluster together with their least expensive streets falling between $300,000 and $450,000,” he said.

In Perth, the cheapest streets are located in the south-east growth corridor led by Thomas Street, Armadale ($265,000), followed by Seaforth Avenue in Gosnells ($275,000) and Beacham Crescent in Medina ($280,000).

Perth’s pace of capital gain continues to lead the nation according to figures released by CoreLogic on Monday. Home values are up 1.1 per cent over the month to $808,090 and 3 per cent higher over the rolling quarter.

But CoreLogic research director Tim Lawless said this was the softest rise over a rolling three-month period since April 2023 and less than half the rate of growth recorded through the June quarter at 6.7 per cent.

“The downturn is gathering momentum in Melbourne and Sydney while the mid-sized capitals, which have dominated the growth cycle of late, are also losing steam,” he said.

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