Sydney’s $45m street reveals insane real estate divide

New house price data has highlighted the great housing divide in Sydney with the city’s most expensive and cheapest streets named for 2024.

The Harbour City’s dress circle price tag goes to Wolseley Rd, Point Piper. The coveted street is perfectly positioned to capture Sydney’s most famous landmarks and is home to an eye-watering median house price of $45 million – up 36 per cent from $33 million last year – according to Ray White research. It’s a far cry from the $280,000 median recorded in Wendoree Park along the Hawkesbury River.

MORE: $300k richer: Sydney suburbs where you can make a killing

Wolseley Rd has unmatched Harbour views.

---

MORE: Bargain inner city rental suburbs revealed

Two recent off-market sales rumoured to have exchanged on the rich-lister road achieved $80 million and $95 million, despite both mansions needing renovations. Records show number 20, a waterfront home owned by Sydney FC owner Scott Barlow and his wife Alina, fetched $60 million in November 2023 – $15 million more than the purchase price just over a year earlier.

Homes at 99 and 142 Wolseley Rd, also sold this year for $23 million and $51.5 million respectively, although neither have water frontages or bridge views.

Tarocash co-founder Steve Leibowitz and his wife Pam are currently selling their trophy home at 69 Wolseley Rd for $65 million through Elliott Placks and Adam Reichman of Ray White Double Bay.

MORE: Cricket star’s home Australia’s most viewed auction listing

142 Wolseley Rd, Point Piper.

---

“The prestige label of Wolseley Rd carries a certain reputation like luxury brands Chanel or Dior, but it’s the incredible views and lifestyle the suburb offers that justifies its reputation beyond just a name,” Mr Placks said.

Michael Pallier, principal of Sotheby’s International Realty, has been selling homes on Wolseley Rd for two decades and has witnessed it’s evolution.

“My wife and I bought an apartment there because we love the location. We now lease it out, but we purchased on Wolseley Rd because you should always buy in the best street,” he said.

“The west-facing houses, especially the waterfront ones, will always be the most expensive, but don’t come up very often. Homes on the north-facing side can cost substantially less, but they’re still in high demand.”

12 Winchester Drive, Lake Munmorah recently sold $585,000.

---

Second on the list is Wentworth Rd in Vaucluse, which has a median price of $23.8 million, with Ginahgulla St in Bellevue Hill rounding out the top three at $22.15 million.

On the flip side of the price equation, the report named greater Sydney’s cheapest streets with Glenworth Valley Rd, Wendoree topping the list at a median of $280,000, Depot Cct, Werrington at $370,000 and Caspian Cct, Woongarrah at $390,500. These low medians were a result of land sales, however the “cheap” neighbourhoods with established homes were mostly located on The Central Coast including Kalinda Rd, Bar Point with a median of $475,000 and Winchester Dr, Lake Munmorah at $585,000.

Prestige agent Michael Pallier and wife Lulu have been selling homes on Wolseley St for years and said the prices are always going up. Picture: Justin Lloyd

---

Atom Go Tian, author of the report and senior data analyst at Ray White, said while the top-priced streets often remain the same year-on-year, the cheaper addresses are often changing.

“At both ends of the spectrum the range is increasing, which is just representative of prices overall. With the most expensive streets, Sydney’s eastern suburbs continue to be popular because they carry a unique lifestyle balance with access to beaches, the harbour, parks and the urban convenience of being near the city,” he explained.

“Cheaper streets and suburbs can easily move up and down the list depending on what local development and infrastructure is planned. I’d suspect that we’re going to see different cheap streets every year, but the top ones will likely stay unchanged.”

MOST EXPENSIVE STREETS

CHEAPEST STREETS

Source: Ray White