A street in Mosman, on Sydney’s lower north shore, has the greatest number of million-dollar properties than anywhere else in Australia.
Raglan Street in Mosman was named the country’s best “$1 million row” by property portal Onthehouse.com.au
According to the research, 297 homes on Raglan Street – or 99 per cent of properties – had a value in excess of $1 million.
In fact, if the Onthehouse research is to be believed, the top nine streets in Australia in terms of $1 million-plus price tags are to be found in Sydney.
The findings showed that NSW was the wealthiest state when it came to residential property overall, with some 23.4 per cent of dwellings in the metropolitan suburbs now valued at over $1 million.
Despite housing the nation’s most million-dollar heavy street, Mosman itself came in as NSW’s 11th wealthiest suburb in terms of percentage of million-dollar properties, with 99.87 per cent of houses in the millionaire’s club.
Balgowlah Heights, Clontarf, Cremorne Point, Duffys Forest, Henley, Huntleys Point and Huntleys Cove all ranked joint first on the scale with a hit rate of 99.99 per cent.
John Edwards, consulting analyst for Onthehouse.com.au, said: “It was no surprise to see so many of New South Wales’ suburbs housing some of Australia’s most expensive properties.
"Within the top 10 alone, no suburb drops below 99 per cent, and while Mosman didn’t make the top 10, the fact it hosts Australia’s number one street still cements its position as one of Australia’s most prosperous localities.”
Mr Edwards believes many Sydney property owners were probably unaware of the true value of their homes and said it was no longer just the city’s east that could boast $1 million price tags.
He cited Castle Hill in the north west as the suburb with the largest increase in properties now priced over the magic million-dollar mark.
He also predicted the belt of suburbs in the north west – including Ryde, Epping, Cherrybrook and Carlingford – will soon average seven figures.