HMAS Australia Road was named sometime in the late 1950's after H.M.A.S. Australia II, the second of two warships to carry the name Australia (the first H.M.A.S. Australia was in service from 1917 to 1924). H.M.A.S. Australia II was in service from 1928 to 1955. "she had the longest active life of any warship". There is a memorial on the street and Anzac Day services are held there each year.

HMAS Australia Road is a little less than one kilometre long and has a plantation of trees that runs down the middle of the road. It follows the route of the old tram line and at one time there was a viaduct that the tram line went over. Because of continual flooding it was eventually silted over. In 1964 they planted the street with a double row of poplar trees. These grew well, and formed a very beautiful avenue, until the trees began to succumb to the fungal disease silver-leaf. Eventually they had to be removed and in August (1982?), members of the H.M.A.S. Australia Club planted fifty Plane trees in their place. A small plaque commemorates this project.

On the southern side of the street are Housing Trust homes ( i.e. public housing) and on the northern side are privately owned homes. Nearby streets are named after battleships, i.e. Hobart, Canberra. The main street running two streets back and parallel to the waterfront is named Military Road.