» more from Slideshows

10. Wolseley Road, Point Piper

Cost: $28,000 per sq/m

Australia’s most expensive road is located on Point Piper, a peninsula jutting out into Sydney Harbor, just east of the iconic opera house and the Sydney Harbour Bridge.

The road is also home to Craig-y-Mor, a non-waterfront property which sold for $32.4 million in 2008 and is also currently Australia’s most expensive residential property. In 2001, Australian property writer Cindy Martin calculated the total value of properties along Wolseley Road’s 1km stretch of waterfront exposure totaled $720 million AU (or approximately $591 million US).

Photo: 000012