It wasn’t long ago, in fact in 1990, Melbourne had its first million dollar street and last year the number climbed to 1734. In April 2010, the number of streets with $1 million media house worth has rocketed to 4222. Now, there are over 148,000 Melbourne houses, worth $1 million plus, which is out of a total numbers of just more than 1 million of whole Melbourne. It means that there is one in seven changes that a Melbourne house values more than a million dollars.

So where are the entire million dollar homes? Of course in Toorak, with three dearest streets that are 10 of the top 20 and 31 in the best 50. Research firm Residex has appreciated every house in Melbourne’s 32,592 streets. They make use of composite formulas that involve recent sale prices, price connections with similar streets and number of bedrooms and bathrooms. Using that information it has accumulated a complete list of streets with million-dollar mean price that is being the middle price and not the average.

So which is Melbourne’s dearest street? That would be Whernside Av, Toorak, with a middle price of $5,810,500. Trawalla Av comes in next at $5,636,500, out of the top 3 for Toorak and Yar Orrong Rd comes in at $5.5 million. This is good news for all property investors and owners, but this good thing also curse hard times for others who are trying to get into the property market for first time. But even the Melbourne prices flourishing, Sydney still has the bolt on the top end of property prices. Sydney’s most exclusive dwellings are situated on Billyard Av, Elizabeth Bay, where the medium house worth near $17.28 million.