Qld’s cheapest and most expensive streets to live revealed

Queensland’s cheapest and most expensive roads of 2022 have been unveiled, and a staggering $13.59 million separates them, new research has found.

Exclusive data from Ray White shows that the median home price on Arakoon Street in Sunshine Beach is now a staggering $13,625,000, while the median home price on Porter Street in Aramac in the west-central state is just $35,500.

But prime real estate on Arakoon Crescent can cost twice as much, with the street record held by a $28.5 million Shaun Lockyer-designed mansion that Karen Greer, wife of Wilson Asset Management founder Geoff Wilson, Bought in a secret shop in April.

This property at 24 Arakoon Cres, Sunshine Beach sold for $28.5 million. It was designed by Shaun Lockyer. Image provided by Shaun Lockyer Architects.

That sale surpassed the previous record set in February, when BV Investments acquired mining magnate Gina Rinehart’s aging beach house in February for $21.5 million — 20 times what the owner paid for it 26 years ago.

Former investment banker Keith Ince and his wife Jeanette own the third most expensive property on the street at $20 million, while M Resources mining director Matt Latimore owns a $14.25 million property on the same street that is now the sixth most expensive property in Australia is .

Once a sleepy vacation enclave accessible by a dirt road, Sunshine Beach has rivaled Byron Bay during the pandemic boom. Picture Lachie Millard

Arakoon Crescent is the only place in Queensland to make the national top 10, including streets in suburbs like Point Piper, Toorak, Vaucluse and Byron Bay.

Australia’s most expensive street is Wolseley Rd in Point Piper with a street median of US$33 million.

Australia’s most expensive roads. Source: Ray White

Tom Offermann of Tom Offermann Real Estate, the agency behind some of the biggest sales on the Sunshine Coast during the pandemic real estate boom, said Arakoon Crescent has seen some “extraordinary sales” during the boom.

“Sunshine Beach was generally more interesting to Queenslanders, as visitors from the south often stayed near Hastings Street,” he said.

“But there has been an increase in highly motivated buyers who have experienced the coastal, national park and hinterland aspects.

“The secret is out.”

Hot on the heels of Arakoon Crescent is Hedges Avenue on the Gold Coast, dubbed Millionaire’s Row.

OTHER NEWS: The luxury home in Australia’s ‘sh*ttest town’

Star Builder Graya starts first Gold Coast projects

Where values have fallen every month since the peak of Qld real estate

The view from Clive Palmer’s mansion on Hedges Ave

There, the average home price is a staggering $12 million, more than double its nearest competitor Jefferson Lane in Palm Beach, where the average price is $5,875,000.

Hedges Avenue was only $625,000 less than Australia’s 10th most expensive street, Eastbourne Rd at Darling Point in Sydney.

Hedges Avenue is home to properties owned by real estate developer Bob Ell and his wife Janine ($22.6 million), Stone & Wood Brewing Company director Ross Jurisich, Light Years Skin Studio founder Megan Jurisich (21.75 million) and mining magnate Clive Palmer ($12 million). .

Six of Queensland’s most expensive spots are on the Gold Coast, including Admiralty Drive ($5.575 million), Midshipman Court ($5,012,500), Commodore Drive ($4.75) in Surfers Paradise and Knightsbridge Parade ($4.975 million) at Paradise Point.

If you have $45 million to invest, 26-34 Knightsbridge Parade East, Sovereign Islands is still on the market

Harcourt’s Coastal agent Karen Pirie, who will soon be putting a waterfront residence on Commodore Drive on the market, said the street has always been popular with high-end shoppers.

Ms Pirie said interest in this type of property is usually evenly split between local and interstate buyers.

Mooloolah Drive in Minyama is the sixth most expensive street in the state at $5,088,888.

In Brisbane, two streets make the top 10 – Priestdale Road in Rochedale ($5.2 million) and Quay St in Bulimba ($4.9 million).

122 Quay St Bulimba will be auctioned

A Mediterranean-inspired riverfront residence holds the Quay Street record of $8.45 million, while in Rochedale, large blocks primed for development are driving prices up on Priestdale Rd.

At the other end of the price spectrum is Porter St in Aramac, followed by Illawong Dve in Paget ($37,750), Miles St in Jundah ($47,000), Main St in Augathella ($49,000) and the only location in Brisbane, Ilumba St on Russell Iceland ($55,000).

The most expensive sale on Porter Street was a three-bedroom house on a 2,023-square-foot block that sold for $109,000 in 2010.

The other streets on the list all had average prices under $85,000, including Albert St (Tambo), Nelson St (Augathella), Beaconsfield St and Resolution Streets (Hughenden), and Byrne St (Julia Creek).

Ray White Chief Economist Nerida Conisbee. Image: Tertius Pickard

Ray White’s chief economist, Nerida Conisbee, said the rankings shifted depending on stock sales at the time.

But she said the fact that there were two regional areas on the national top 10 list — Sunshine Beach and Byron Bay — speaks to the lifestyle change sought during the pandemic.

“Traditionally, these lists have been dominated by Sydney and Melbourne, so it’s interesting to see some regional roads there,” she said.

And as for the cheapest roads, Ms Conisbee said some areas, like Russell Island and Hughenden, have seen decent growth after many years of deflation.

“The ones that will hold up will be the ones with decent rental yields,” she said.

Clive and Gina Benge with Lauren, 19, Abigail, 23, and Louis the dog. Image: Nigel Hallett

DESTROY, LEAVE A DISK PARADISE

Clive and Gina Benge admit the decision to sell their waterfront home in Surfers Paradise was a reluctant one.

But Mr Benge, who has his own engineering firm, said the purchase of two industrial factories meant it was financially time to downsize.

“And our girls are getting older,” he said.

The couple’s daughters Abigail, 23, and Lauren, 19, are both university students and Mr Benge said they have plans to downsize into an apartment.

But that doesn’t make selling her 104 Commodore Drive home any easier.

“It’s so quiet despite being in the center of Surfers Paradise,” said Mr. Benge.

“The proximity to everything, to public transport, there is only one bridge between us and the beach.

“And I skate everywhere.”

The couple purchased the five-bedroom, four-bathroom residence, which features a pool overlooking the canal, in April 2019 after downsizing the Currumbin acreage.

Since then, the median home value in Surfers Paradise has skyrocketed, up 38 percent to nearly $2.9 million in the last 12 months alone.

But the median price of living on coveted Commodore Drive is even higher at $4.75 million.

According to research by Ray White, it is the 10th most expensive street in Queensland.

“I’m not surprised,” Mr Benge said, adding “it’s a great place to live”.

“I prefer to sit on the back seat in the evening and enjoy the view of the high-rise buildings that are illuminated at night.

“The neighbors are friendly too, but we don’t pick each other’s pockets.

“There is a community WhatsApp group and security patrols.”

The Benge residence is listed with Karen Pirie, agent for Harcourts Coastal and is expected to go on the market in late December or early January.

“Houses on Commodore Street are always very popular,” she said.

“And I imagine this one will be very popular as it is one of the larger east facing properties to come on the market.

“It ticks a lot of boxes for buyers and that’s why we’re going to put it up for auction.”

Ms Pirie said interest in this type of property is usually evenly split between local and interstate buyers.