Have you ever wondered what the most expensive street in Melbourne is? The Melbourne property prices are notable and the cost of living in Melbourne is amongst the highest in Australia. The city is renowned for its luxury properties, high-end amenities, and affluent residents, making it an exciting destination for property investors and those seeking the ultimate in luxury living.
Let’s explore the most expensive street in Melbourne, along with its top five top rivals. We’ll delve into the history of the sold properties, showcase some jaw-dropping homes for sale, and provide unbiased and strategic property advice for those looking to break into the market or expand their portfolio.
And then after that, we’ll take a look at the most expensive home on the market right now.
All right, let’s take a closer look at Melbourne’s most luxurious streets and the properties that grace them.
The most expensive street in Melbourne
$80 million – 29-31 St Georges Rd
And the winner is… St Georges Road. All thanks to a brilliant $80 million sale in 2022. The Toorak mansion at 29-31 St Georges Road topped the Victorian price benchmark as the most expensive home in the area, selling for an astounding $80,000,088 in an off-market deal. This is the most expensive house in Toorak and also ever sold in the city.
The buyer, crypto platform billionaire Ed Craven, had plans to completely revamp the property despite its near derelict condition. With a spacious 7,200 square meter block to work with, Craven intends to build a brand new house that will surely be a marvel of modern design and luxury living. The details have been kept private and there are very few public images of the house.
Toorak might not be the most expensive suburb in Australia, but it sure is a strong contender. And it’s also one of the best suburbs in Melbourne for families.
While it wasn’t the most expensive house in Australia, it comes in at an impressive number four. The sale only solidifies Melbourne’s reputation as a destination for the country’s wealthiest people but also cemented St Georges Road as the most expensive street in Melbourne.
$75 million – 17 St Georges Road
During the same week that 29-31 St Georges Road set a new price record, another iconic property, Blair House, also made headlines for its staggering listing price of $65-$75 million. Despite being relatively private, with only a few photos of the property being released to the public, Blair House exudes luxury and opulence.
From the stunning red brick exterior to the walled garden fencing and stone sculpture in the circular driveway, every detail of this property screams sophistication. While only two photos of the light-filled interiors were made available, it’s clear that Blair House is a true gem of Melbourne’s high-end real estate market.
The other expensive streets in Melbourne
$40 million – Lansell Road
Lansell Road is another one of the most desirable streets in Melbourne. Just take a look at this spectacular property.
The prized 47 Lansell Road mansion has recently been sold at auction for just over $40 million, offering five bedrooms, four bathrooms, and six car parks on a sprawling 33,000 square meter lot near the Yarra River.
Interestingly, just two years prior, the property was listed for half the price before undergoing renovations by renowned designers and landscapers, including Helen Green Design Studio, Carr Design Group, and Paul Bangay.
The renovations have transformed the mansion into an entertainer’s paradise, complete with a separate bar and entertainment room, formal dining space, reception room, home theatre, three kitchens, and an indoor-outdoor room with a teppanyaki grill. With such impressive features, it’s no wonder this mansion dazzled at auction and fetched such a high price.
$38.5 million – Orrong Road, Toorak, VIC 3142
Located on the prestigious Orrong Road, this opulent two-storey residence recently sold for $38.5 million in 2022 and upped the market average on this street. The mansion is comprehensively appointed with a long list of features, including a refined private study, tennis court, swimming pool, sauna, solar panels, and security system, among others.
Located just minutes away from Melbourne’s finest schools, designer boutiques, and vibrant cafes of High Street and Toorak Village, this unparalleled family residence offers exceptional proximity to the Main Yarra Trail, Burnely Golf Course, and cosmopolitan South Yarra, making it the ultimate destination for those looking to experience the best of Melbourne’s high-end real estate market.
Explore more real estate for sale in Toorak VIC.
$38 million – Southbank Blvd, Southbank VIC 3006
Located on South Bank Boulevard Road, this sub-penthouse in STH BNK by Beulah has recently set a new record for Melbourne’s most expensive apartment, selling for a whopping $38.5 million in March 2023. The unknown buyer, a transcontinental business owner, has been offered a customisable floor plan to cater to their lifestyle, highlighting the luxury and exclusivity that comes with living in this prime location.
Situated above level 75 in one of the highest apartments in Melbourne, the property offers a 360-degree view of the city and access to resort-style concierge services, including housekeeping, shopping, childminding, and more.
With world-class amenities and unparalleled luxury, it’s no wonder that South Bank Boulevard Road is considered one of the most expensive streets in Melbourne. For those looking to experience the ultimate in high-end living, this property represents the pinnacle of luxury and exclusivity in one of Melbourne’s most sought-after neighbourhoods.
Discover more properties for sale in Southbank VIC.
The most expensive houses on the Melbourne property market
$9 million – 784 Orrong Road, Toorak, VIC, 3142, Australia
Of course, we had to revisit Orrong Road and its staggering property prices. If you’re looking for affordable streets, you won’t find them in Toorak.
This breathtaking contemporary home boasts stunning Melbourne CBD views and luxurious indoor/outdoor living spaces. Designed by Lauren Tarrant Design, the five-bedroom, four-bathroom home is a masterpiece of sumptuous design and natural materials.
Multiple living and entertaining areas are connected to travertine entertaining zones, a mosaic-tiled heated pool, and a lush landscaped garden through walls of retractable glass.
Explore more real estate for sale in Toorak VIC.
$11 million – Southbank, VIC, 3006, Australia
Southbank by Beulah is a name we definitely recognise. Having set the record for the most expensive Melbourne property sold this year, it’s your chance to secure the dream in Melbourne’s CBD.
The penthouse apartments are customizable and offer stunning views of Albert Park, the city and bay, providing a lifestyle unparalleled in Melbourne’s property market. The luxurious interior details and local amenities are only available to penthouses, including sprawling terraces with panoramic vistas over Melbourne’s most spectacular parklands, lakes, the ocean, and bustling city skyline.
Discover more properties for sale in Southbank VIC.
FAQs on the most expensive streets in Melbourne
What is the richest area in Melbourne?
The richest suburb in Melbourne is Toorak but Brighton and Southbank are also very pricey areas, with more jaw dropping properties driving up the property prices in recent years.
What are the most expensive streets in Victoria?
You’ll find the most expensive streets in Victoria in their capital city, Melbourne. St Georges Road, Lansell Road and Orrong Road.
What is the most expensive street in Australia?
Wolseley Road in Point Piper is Australia’s most expensive street, with a median price of $33 million. This nearly 1km long street is lined with luxurious mansions, many of which offer stunning panoramic views of the harbour from their living rooms. Over the past 12 months, properties in Wolseley Road have been selling for up to $45 million, solidifying its position as the most exclusive and high-end street in the country.
What are Melbourne’s most expensive and cheapest streets?
66 Taverner St in Rainbow is a house situated on one of the most affordable streets in Victoria, while St Georges Road and Orrong Road are some of the most expensive streets.
Where is the richest place in Victoria?
The richest places in Victoria are definitely found in the capital, Melbourne. The inner city suburb of South Bank, for instance. But also the aforementioned Toorak, South Yarra, East Melbourne and Balwyn.
