Latest NewsAussie Street Ranks Ninth in World's Most Expensive AddressesSunday, 07 May 2017

A Sydney street is one of the world's most expensive addresses, according to a list that includes London's Kensington Place Gardens and New York's Fifth Avenue.

Wolseley Road in Point Piper, Sydney, came ninth on the list, which was topped by Severn Road in Hong Kong, reported the Financial News.

The most expensive property on Wolseley Road - a six-bedroom, five-storey house called Villa Veneto - was recently settled with a second instalment of $44 million.

The property was purchased by dentist David Penn and his wife Linda on Valentine's Day.

Wolseley Road this year moved up from its previous tenth-place ranking, where it had stayed the previous two years.

Wolseley Road's previous residents include retailer Frank Lowy and his wife, Shirley, billionaire Jim Clark and model Kristy Hinze, and recruitment industry entrepreneur Julia Ross.

In Hong Kong, buyers of Severn Road’s mix of detached houses and apartment blocks are likely to pay $80,000 a square metre.

But volatility should be expected in the area, where Financial News said prices have soared by as much as 60 per cent over the last two years, after plummeting by 40 per cent at the start of the financial crisis.

The Land Registry put Hong Kong's total property transactions last year at $88 billion, up 33 per cent from 2009.

Demand for residential property remains strong in Hong Kong among residents and Chinese investors seeking good investment returns, said Fairfax newspapers.

Kensington Palace Gardens in London, a private road affectionately referred to as 'Billionaire’s Row' by locals, ranked second on the survey, which is now in its fourth year.

Its most recent sale was to Tamara Ecclestone, daughter of billionaire Formula One mogul Bernie Ecclestone, who reportedly paid $70 million for the house.

"I'm not a spoilt, ungrateful brat who doesn't know the value of money," Ms Ecclestone recently told HELLO! magazine.

"For me, spoilt means ruined, and I don't feel ruined," she said.

The list also included New York's infamous shopping district Fifth Avenue at 5 and new entrant Quai Anatole in Paris, which replaced Avenue Montaigne near the Champs-Elysees.

The world’s top 10 most expensive addresses are as follows;

1. Severn Road, Hong Kong

Top price: €57,000 ($78,200) per m2

Price change since 2009: +9%

2. Kensington Palace Gardens

Top price: €55,000 per m2

Price change since 2009: +2%

3. Avenue Princesse Grace

Top price: €50,000 per m2

Price change since 2009: +2%

4. Chemin de Saint-Hospice, Saint-Jean-Cap-Ferrat Top price: €45,000 per m2 Price change since 2009: +5%

5.Fifth Avenue, New York

Top price: €45,000 per m2

Price change since 2009: -4%

6. Quai Anatole, Paris

Top price: €32,000 per m2

Price change since 2009: (New)

7. Rue Bellot, Geneva

Top price: €31,000 per m2

Price change since 2009: -2%

8. Via Romazzino, Porto Cervo, Sardinia

Top price: €17,000 per m2

Price change since 2009: -35%

9. Wolseley Road, Point Piper

Top price: €15,000 per m2

Price change since 2009: -5%

10. Ostozhenka, Moscow

Top price: €13,000 per m2

Price change since 2009: -30%

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