The million-dollar Canberra streets that could be the next 'golden mile'

Hidden behind hedge-lined front yards are some of the most extravagant properties in the ACT. Mugga Way, as the prestigious strip is known, also goes by the name of Canberra’s “golden mile”. Sitting on large parcels of land, the homes at Mugga Way are what dreams are made of.

The tree-lined street has a median price well above the $2 million mark. After its first sale above $1 million in 2000 at 9 Mugga Way, prices on the street have skyrocketed.

Mugga Way is home to the two highest recorded sales in the nation’s capital. In 2010, 27 Mugga Way sold for $7.3 million and in 2013, 20 Mugga Way sold for $7.2 million.

But what are Canberra’s silver miles? Here are the streets giving Mugga Way a run for its money and title, with median prices well above $1 million.

La Perouse Street

97 La Perouse Street, Griffith sold last month for $1.3 million. Photo: LJ Hooker Manuka

La Perouse Street runs across the suburbs of Red Hill and Griffith, starting from the base of Red Hill and running to Manuka shopping precinct. It’s a very leafy street with a beautiful tree canopy covering a large segment of it.

La Perouse had its first million-dollar sale in 2002 at 87 La Perouse Street. In more recent times, most houses sell for well above $1 million. In fact, in the past two years only three out of the 22 houses sold have had a price tag under $1 million.

The highest recorded sale on La Perouse Street is held by No.7 for $2.595 million in October 2016.

Jansz Crescent

47 Jansz Crescent is currently on the market. Price by negotiation. Photo: Rebecca Selleck

Another Griffith address, Jansz Crescent is home to grand 1960s and 1970s abodes with generous gardens and ample entertaining areas.

Jansz Crescent had its first million dollar sale in 2003 at No.4 for $1.317 million. Since mid-2013, no sale on the crescent has been under $1 million.

The highest recorded sale happened in 2012 at 82 Jansz Crescent for $2 million.

Melbourne Avenue

25 Melbourne Avenue, Forrest is currently listed on Allhomes for $2,950,000. Photo: Luton Properties Dickson

Home to the heritage listed Blandfordia Precinct, Melbourne Avenue is very tightly held. However, there has been greater movement in the past two years with eight homes on the street selling.

Melbourne Avenue had its first million-dollar sale in 2001 at No.51 which sold for $1.150 million. Since that sale no home has sold for less than $1 million. In fact, since 2012 no home has sold for under $2 million.

No.9 Melbourne Avenue registered its highest sale in March last year for $3.86 million.

Schlich Street

115 Schlich Street is currently listed for sale. Price by negotiation. Photo: Berkley Residential

In one of Canberra’s most prestigious suburbs, Yarralumla, you’ll find the 1.6-kilometre long Schlich Street and its magnificent abodes set in enviable leafy surrounds.

Schlich recorded its first-million dollar sale in 2006 at No.17 for $1.44 million. It has not had a sale below $1 million since 2014.

The highest sale in the street was recorded in March 2017 at No.128 for $2.475 million.