A million reasons why these streets are tops

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Australia has a new name at the top of the list of its most expensive streets.

Military Road in Sydney’s eastern suburb of Dover Heights has leapt to the top of Millionaire’s Row, an annual list put together by onthehouse.com.au detailing the 10 streets in Australia with the highest number of houses worth over $1 million.

This year’s list is dominated by New South Wales streets, with Broome Street in the Western Australian city of Cottlesloe the only non-NSW street on the list.

Broome Street came in third behind Mosman’s Raglan Street, which was knocked from the top position by the newcomer Military Road.

Military Road isn’t the only debutant on the list this year, with it joined by four others in Broome Street, Paddington’s Glenmore Road, Cronulla’s Nicholson Parade and Malabar’s Prince Edward Street.

“It’s interesting to see new streets headlining Australia’s million-dollar property chart, especially since these streets are located in suburbs that aren’t necessarily charting high in the national million-dollar suburb list,” onthehouse.com.au market analyst Eliza Owen said.

“In fact, none of the Top 10 million-dollar streets come from any of the Top 10 million-dollar suburbs.”

NSW also dominated the top 10 list of suburbs with houses worth more than $1 million, again taking nine spots.

WA again grabbed the remaining spot, with Perth’s Peppermint Grove coming in at number eight.

Sydney’s Cremorne was the list’s big improver, going from ninth in 2014 to top spot this year.

East Linfield was another big improver, going from tenth to third, while last year’s number one Balgowlah Heights dropped to fourth.

There was also five debutants on the top suburb list, with Naremburn, Neutral Bay, Longueville, Kirribilli and Tamarama all featuring for the first time.

“With record low interest rates, it makes sense that more houses have broken through the million-dollar barrier, and as a result we are seeing many streets and suburbs debut in the list that may not have been expected,” Owen said.

 

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Top Suburbs : mt lawley , harris park , sth toowoomba , tiwi , nundah

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Comments
  • infowars says on 09/06/2015 04:24:35 PM

    So if "it makes sense" that houses are expensive due to low interest rates; then when they go up the house value lowers?
    I think that there is some greed and B.S being propagated about the market now.
    Buffett said "be fearful when others are greedy, and greedy when others are fearful".
    The property market is very greedy at the moment, and Im waiting for the burn to come!

  • realisticwars says on 11/06/2015 12:53:29 PM

    You might be wating a while.

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