Hickson Street tops list of most expensive streets in Newcastle

The beachside suburb dominated the list compiled for the Newcastle Herald by Ray White which revealed the top 10 priciest and most affordable streets in the region.

Merewether accounted for nine of the 10 most expensive streets on the list, with Hamilton South emerging as the only other suburb to rate a mention.

Homes on Hickson Street hold a median value of $4.6 million, making it the most expensive strip to buy a house in the Newcastle area.

The street's elevated position with north-facing views across the city and Merewether Beach, or looking south towards Glenrock State Conservation Area and the ocean command with a high price tag, according to Robinson Property listing agent Mike Flook.

Mr Flook sold the street's most expensive home at 56 Hickson Street in May last year for $6.1 million.

"It doesn't surprise me that it's at number one because it is certainly a sought-after spot," Mr Flook said.

"I have probably sold 15 homes over the years along Hickson on both the north and south sides and each offer outstanding views.

"It is a beautiful street in a quiet cul-de-sac and it has a mix of new homes and some stunning renovations where you're elevated and you've got that sense of privacy."

His listing at 39 Hickson Street was the most recent sale on the coveted strip, fetching $4.1 million in March.

Two listings on the street due to hit the market in early 2024 are expected to fetch a combined total of more than $10 million.

Other top streets in Merewether included Curry Street (median house value $3.23 million); Janet Street ($3.175 million); Scenic Drive ($3 million); Woodward Street ($2.85 million); Watkins Street ($2,742,500 million); Frederick Street ($2.615 million); and Rowan Crescent and Helen Street ($2.45 million).

Hamilton South's Parkway Avenue came in tenth position with a median house value of $2.4 million.

"[The most expensive] streets are either in close proximity to the beach or positioned on the elevated hillsides with scenic views of the beach," Ray White Group data analyst William Clark said.

"The residences in these areas are notably spacious, frequently featuring three or more bedrooms and bathrooms, along with amenities such as pools, expansive gardens, multiple stories and captivating ocean vistas."

At the other end of the scale, streets in suburbs such as Woodberry, Cardiff and Beresfield emerged as the cheapest places to buy a house in Newcastle.

Tarro took out the top position as the cheapest street with Southern Avenue holding a median house value of $420,000.

That's more than $4 million cheaper than Newcastle's most expensive street.

"The most affordable streets are found in suburbs located just off the New England Highway, approximately 30 minutes from Newcastle," Mr Clark said.

"They consist of single-storey older homes featuring multiple bedrooms, typically with one or two bathrooms"

Woodberry held the biggest number of affordable streets, with six of the 10 cheapest streets in the region found in the suburb: Kingstown Road (median house value $470,000); Frewin Avenue ($471,250); Lawson Avenue ($492,500); Green Hills Avenue ($496,500); Curlew Crescent ($513,250); and Greenway Avenue ($517,500).

"The dominant buyer group in Woodberry is first-home buyers and most of them are coming from Newcastle," Dowling Property Group selling agent Rob McCorriston said.

"The feedback is that they're priced out of the market in town.

"I have sold a house in every one of those streets [in Woodberry] for under $500,000, so you're getting homes anywhere from mid to late $400,000 up to that $500,000 category."

Mr Corriston said Woodberry, Tarro and Beresfield all offered good value for money.

"These areas are still relatively affordable for people," he said.

"Woodberry for example has such a central location and buyers are really taking that into account because you're only 28 minutes into Newcastle Beach."

The most affordable street in the suburb closest to Newcastle CBD was Hendrick Street in Cardiff which ranked as the eighth most affordable street with a median house value of $520,000.

The final two most affordable streets were Lake Road in Argenton and Byron Street in Beresfield which both hold a median house value of $522,500.

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