See the top 25 streets in suburbs across Newcastle and Lake Macquarie

The four coastal suburbs all earned multiple spots in the Suburbtrends Top Streets report which compiled a list of the top 25 streets in both areas using an automated valuation model to estimate the value of each house on a street.

The model combined sales from the street with comparable nearby sales and excluded any streets with fewer than five computer-generated estimates.

Merewether dominated the list in Newcastle, with nine streets earning a spot in the top 25 including the beachfront-facing John Parade in fourth position with a median value of $3,497,500.

Other top streets in the suburb included Hickson Street ($3.376m), Hill Street ($3.186m), Lloyd Street ($3.178m), Scenic Drive ($3.118m) and Hillcrest Road ($3.078m).

"It's all driven by position and a want to be close to the ocean," Robinson Property selling agent Mike Flook said.

"In my experience in the last 30 years, if you are trying to combine address, aspect and privacy, Lloyd Street is one of the best and Hillcrest Road is a great enclave.

"It has that north-aspect elevation, it's a short walk to the beach and has total privacy.

"Hickson Street is another one and on the north side there is high demand because of the panoramic views."

Neighbouring suburb Bar Beach followed closely with eight of the top streets, including Memorial Drive which placed second on the list with a median value of $3.917 million.

Other top streets in Bar Beach included Parkway Avenue ($3.412m); Fenton Avenue ($3,364,500); Brooks Street ($3.358m); and Tooke Street ($3.315m).

Arguably the most surprising inclusion was The Hill's Lemons Parade placing in the number one position in Newcastle, with homes on the street holding the highest median value at $4.012 million.

Suburbtrends founder Kent Lardner said the model used to determine the median value on Lemnos Parade included sales on the street as well as nearby sales.

"Lemnos Parade for example being near Memorial Drive, which has had some very big sales, and also having some larger properties, chances are that's the main driver for its position," Mr Lardner said.

Six streets at The Hill placed in the top 25 list, including The Terrace in third position with a median house value of $3.632 million.

The Junction and Hamilton South were the only other suburbs to appear in Newcastle's top 25 list with Bruce Street, Dumaresq Street and Silsoe Street.

Newcastle buyer's agent Chad Dunn said he was unsure why Lemnos Parade earned the top spot, however, streets like John Parade, Hickson Street and Memorial Drive were "obvious stand-outs".

"The majority of these top streets are near the water and people moving into Newcastle from outside of the area or people aspiring to move into premium locations want a water view," Mr Dunn said.

"Buyers also want to be able to walk to the water, whether it's the beach or the harbour, so it's that lifestyle that drives demand in these streets.

"Merewether, The Hill and Bar Beach, all of those suburbs in that golden triangle of Newcastle are all within walking distance to beaches."

Coastal suburbs also dominated the list of top 25 streets in Lake Macquarie.

Seven streets in Redhead made the list, including Ocean Street which ranked first with a median property value of $2.56 million.

Redhead's Bentley Street placed second on the list with a median value of $2.51 million.

"Bentley Street is a great street because it has the Awabakal Reserve on one side and bush reserve on the other side but it's a street that a lot of people wouldn't actually know because it's a little bit tucked away," Altitude Real Estate agent Paul McAllister said.

"Nearly all of the blocks in Redhead are 460 square meters whereas a lot of the blocks on Bentley Street are much bigger at 800 to 900 square metres."

Caves Beach emerged as the suburb with the most streets on the list at 10 entries, including Ruby Close which ranked in third place with a median value of $2.509 million.

Ray White selling agent Mark Martin said parts of Caves Beach had been in demand for many years.

"It has been a booming suburb even before Covid and it appears to be families that grew up in Caves Beach who are coming back," Mr Martin said.

Similarly to Newcastle, buyer demand in Lake Macquarie was driving up median house values in streets that had either a water view or close proximity to the beach.

"There are different lifestyles at Caves Beach and there are people who want to feel the sand and then people who just want to look at it," he said.

"Seacliff Place has one of the best views that Caves Beach has to offer but you have to walk to the beach so you're a bit further up.

"Whereas Driftwood Close, for example, you walk out your back door and there is private beach access, so you have that lifestyle there."