Two Australian streets ranked 'world's coolest'. Is it time to buy in these suburbs?

If a suburb has a street that was just named one of the coolest in the world, does that mean it's a hot place to buy?

That's what is under consideration as Brisbane's Montague Road in West End took the sixth global spot and Melbourne's Swan Street in Richmond came in 29th in Time Out's annual list.

Local editors at Time Out ranked streets against criteria such as food, drink, culture, fun and community spirit to select the strips that "epitomise the very best of their city."

In other words, "the neighbourhood backstreets and lively avenues that locals love; the places packed with independent shops and creative people."

But a ranking in a global list is one thing, what does it mean for property prices?

Eclectic hub with serious growth

Montague Road's rise from industrial strip to cultural artery is no secret, but being named one of the "coolest streets in the world" still feels like a milestone for Brisbane.

Time Out calls out its vibrant blend of independent art spaces, the Queensland Ballet and Theatre Company bookending the strip, wellness studios, rock climbing, axe-throwing and a standout food and coffee scene.

For locals like agent Tye Watkins of Place Bulimba, the accolade feels well deserved.

Mr Watkins grew up around West End and said the suburb's diversity is what makes it so electric.

"The demographic as a whole depends on what day and time you're going there," he said.

"Especially on a Saturday, going to and from my open homes, I see a lot of different mixes all around. It's definitely vibrant. It's got a lot of different things going for it."

Montague Road sits in the western pocket of West End - and Mr Watkins says what's developing in terms of property growth on the western side is particularly striking.

"That pocket has literally gone off," he said. "The western side toward the river has seen a lot more growth than pretty much the rest of West End as a whole."

He highlights 24 Kurilpa Street as an example. An apartment complex off Montague Road he sells in, the building has seen significant growth.

"The suburb as a whole has been averaging about 10 to 14 per cent growth, but that complex, in the last two years, has gone up about $400,000," Mr Watkins said.

Cotality data reflects the area's surging figures. Over the past five years, West End's house values have climbed 77.8 per cent - over $866,000 - with units and townhomes up 70.9 per cent.

The median dwelling value for houses is at $1,979,265, with units and townhouses now sitting at $946,485.

Mr Watkins attributes the draw of the area to walkability, lifestyle and convenience.

"There's been a lot of development. They've really made West End its own little lifestyle hub.

You've got the markets, Woolies, restaurants, the ferry - within 200 metres walking you have everything at your fingertips. Once people buy there, they don't have to leave," he said.

With a ferry terminal, universities nearby and "one of Queensland's best schools" down the road, the gentrification of the last few years has been significant yet unsurprising, and long-term residents and newcomers alike are feeding that momentum.

Mr Watkins doesn't believe a list alone drives value, but spotlighting already-thriving pockets reinforces buyer demand.

For West End, Cotality's long-term value data shows the suburb was rising well before global recognition - but attention certainly doesn't hurt.

Convenient cultural pocket with steady growth

In Melbourne, Swan Street in Richmond took the 29th ranking on Time Out's list for 2025.

The "once-grungy" locale is now gentrifying, praised for its chic wine bars, live music scene at The Corner Hotel, boutique retail, and its proximity to the MCG and Melbourne Park.

"It's pretty cool," said agent Matthew Coombs of Jellis Craig Richmond, who is personally fond of the area.

"We call Richmond 'the island' because you never leave. I work in Richmond, own in Richmond and never leave the island, because everything is here," he said.

Mr Coombs confirms the vibe and convenience of the suburb is what hooks people.

"There's a lot going on: emerging cafes, restaurants, bars. There's a vibe in the suburb. You've got New Quarter on the corner of Lennox and Swan Street, you've got great sandwich shops, excellent coffee. You can walk everywhere," he said.

But there's also an affordability factor at play in the suburb.

Cotality's data shows Richmond's growth has been more measured than West End's.

Five-year increases have been relatively slow and steady: total dwellings are up roughly 7.2 per cent over the last five years - houses about 9.9 per cent, and units and townhomes 4.4 per cent.

The current median value for houses is $1,444,395, with units and townhomes sitting at $637,225.

Mr Coombs sees this as a savvy opportunity, especially considering its proximity to prime areas.

"Richmond is a pocket between South Yarra, Toorak and then Collingwood and Fitzroy, where it is a touch lower on the median house price," said Mr Coombs.

"So it's a good entry point for people, but the suburb itself is becoming very sought after - you can literally walk to the city in 20 minutes - and I think prices are starting to reflect that. It's a great spot."

Adding to the atmosphere in the area is the mixed demographic living there.

"You've got a bit of a mix," Mr Coombs said, calling out the Richmond Hill area specifically, near Swan Street towards the MCG.

"In that area there are first-home buyers like myself, as well as young families. This is because you're in the thick of everything and can walk everywhere, and there are good schools surrounding the area.

"It's popular with downsizers too - people who lived in Richmond years ago, moved out to the suburbs, raised their families, and then 20 or 30 years later, sell up and move back."

He said the gentrification has been gradual rather than explosive.

"Richmond 20 or 30 years ago was a very different suburb to what it is now. But it's still mixed - you've got first-home buyers spending between $500,000 and $1 million, and then you've got people spending $3 million, $4 million and $5 million. There's a bit of everything."

So whether it's Montague Road's creative energy or Swan Street's urban buzz, both agents say the story is the same: people want walkable, lifestyle-centric, culture-rich suburbs. And these two hubs seem to have mastered the magic formula.