The Hidden Prestige Streets That Every Buyer Should Know
Melbourne’s most prestigious streets are not always those with big trophy sales and reputations.
Fine architecture, attractive streetscapes, and outstanding amenities are commanding attention in lesser-known pockets that don’t make property news headlines.
In a market where discerning buyers are prioritising lifestyle, these areas in Stonnington, Boroondara and Bayside Melbourne are coming into their own.
RT Edgar Bayside director Michael Martin says some of the most desirable locations don’t have instant name recognition. The Golf Links Estate in Sandringham’s Golden Triangle is one, and has all the elements that prestige buyers are looking for.
“That pocket has beautiful tree-lined streets, proximity to the foreshore, and a genuine village atmosphere,” he says. “You've also got some of the largest blocks that you'll find along the bay.”
Martin says secluded, gravel streets, with authentic beach houses and a coastal feel, are hidden gems. He nominates O'Connor Street and Sarah Street in Black Rock, and Coral Avenue in Beaumaris. “They command a premium, and a lot of people don't know they're there.”
For lifestyle, Beaumaris Concourse is under the radar, but offers cache and capital growth, Martin says. “The closer to the Concourse, the higher the price for your property, because it has a bit of everything - the local grocer, dentist, doctor - and it's right by the water.”
New amenities have the power to lift a street’s status. RT Edgar Stonnington director Jack Edgar gives the example of Armadale’s Beatty Avenue, where old shopfronts have been converted into cosy bars and restaurants. “It’s been turned around, and it has become really cool,” he says.
Edgar says Prahran has also had a resurgence. Closeburn Avenue, Airlie Avenue and Irving Avenue, on its eastern side, are worth knowing for impeccable period houses. He says Prahran borders suburbs with strong prestige credentials, and has its own perks, including a vibrant dining scene.
Also deserving of a profile are the leafy Powell Street, Davis Avenue and Fawkner Street in South Yarra. “This area often plays bridesmaid to the northern pocket and the Domain precinct, and it's arguably in a better position, seriously walkable and relatively affordable,” Edgar says.
Of all the elite streets in Stonnington, Edgar says a must-see is Grandview Grove in Prahran. “The location is outstanding, with amazing Victorian homes, an excellent mix of architecture, cafes at either end, and you can walk everywhere. It's the perfect blend.”
RT Edgar Boroondara director Annabelle Feng says a prestige location can reveal itself over time. “Sometimes a prestige location doesn’t emerge because it has changed - it emerges because buyers have finally learned how to see its value,” she says.
Feng says if a buyer was unfamiliar with Boroondara real estate, she would take them to The Ridge in Canterbury, for the ideal introduction. “The Ridge is one of those streets that quietly captures what prestige living in Boroondara is really about,” she says. “It has substantial landholdings, beautiful established homes, mature greenery and a wonderful sense of privacy and permanence.”
Feng’s other selections are Raheen Estate in Kew, Knutsford Street in Balwyn, Tuxen Street in Balwyn North, Waterloo Street in Camberwell and Kooyongkoot Road in Hawthorn. “What they share is a very understated form of prestige,” she says.
Pictured above: 4 Knutsford Street, Balwyn | Currently For Sale
“They may not always be the first names that come to mind for buyers from outside the area, but people who know Melbourne’s inner east understand their quality.”