You would need to fork out more than $2 million to buy a home in Canberra's two most expensive streets, new data has revealed.
Ray White Economics has compiled a list of Canberra's most expensive and most affordable streets, based on the past three years of house sales.
Investigator Street in Red Hill, where the median house price is $2,202,500, and Hopetoun Circuit in Yarralumla, where the median is $2.05 million, topped the list of the most expensive ACT streets.
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La Perouse Street and Monaro Crescent in Red Hill and Jacka Crescent in Campbell rounded out the top five.
The data also revealed the most affordable streets in the capital.
Harrington Circuit in Kambah, with a median house price of $530,750, and Paul Coe Crescent in Ngunnawal, with a $569,400 street median, topped the list.
Ray White Economics data analyst William Clark said the most expensive streets in Australia had broadly similar characteristics.
Large block sizes, close proximity to schools and good public infrastructure were all contributing factors. In Canberra, access to parks and recreation areas was also a big selling point.
Mr Clark said Duffy Street in Ainslie, where the median house price is $1,555,000, was a stand-out as it backs onto Mount Ainslie.
"You don't get that on many streets in Australia," he said.
It doesn't come as a surprise to local agent Christine Bassingthwaighte of Blackshaw Manuka that three Red Hill suburbs made the most expensive list.
"Red Hill a highly desirable suburb in the inner south," she said.
"It's close to the shops, close to premium schools and also has easy access to public transport. It's leafy, it has wider streets and big trees ... it's just a really pleasant place to live."
One of Ms Bassingthwaighte's recent Red Hill listings, 235 La Perouse Street, sold in December for $2.7 million.
The home featured four bedrooms, including a self-contained studio, 2.8-metre-high ceilings, a tiled outdoor swimming surrounded by gardens.
In Ray White Economics' list of the most affordable streets, Werriwa Crescent, Isabella Plains and Constance Stone Street and Osburn Drive in Macgregor were also in the top five.
Mr Clark said houses on smaller blocks or close to main roads often attracted lower prices.
While streets located further away from city centres traditionally contributed to more affordable prices, Mr Clark said that's not the case anymore.
"Recently with lockdowns and widespread digitisation of roles, remoteness hasn't been as much of a concern [for people] and further-out suburbs have been getting more expensive," he said.
Andrew Curren, principal of LJ Hooker Tuggeranong, said even in the most affordable parts of the ACT, houses are now out of reach for many buyers.
"Realistically, right at the moment any standalone house, even something in quite poor condition, would have to be at least $750,000 and above," he said.
Mr Curren recently sold a property on Werriwa Crescent in Isabella Plains, which was listed as one of the most affordable streets at a median price of $615,000.
"The block size was only about 600 square metres, so it's not a rambling block like you might see sometimes down in Tuggeranong, and we got $810,000 for that," he said.
"Typically, that is probably one of the more entry level streets of Isabella Plains, but entry level prices nowadays are not what they used to be."
According to CoreLogic's December price index, the median value of a Canberra house is now $999,755, up 27.2 per cent on this time last year.
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