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Lower North Shore Market Surge: Is Your Property Now Worth More?

At weekend barbecues (and everywhere else) the talk of Sydney is the property market.

Will it keep going up? Is it a buyers market? Is it a good time to sell?¬†Homeowners, renters, and everyone in between is curious ‚Äď what’s driving this growth?

Sydney’s housing market has seen some of the strongest growth in Australia over the past year, and the lower north shore is no exception.

This beautiful architecturally designed property at 52A Parriwi Rd, Mosman captures sweeping views across to Clontarf, Middle Harbour and out through Sydney Heads. It recently sold for $12.5 million. Image: Ray White

While the entire city saw a median house price increase of 1.1% in the last month, suburbs in the lower north shore are experiencing significant growth, with Mosman, Willoughby East, Middle Cove, North Willoughby and North Sydney all rounding out the top five according to data from Core Logic and Ray White.

Traditionally hot suburbs like Mosman are thriving, but suburbs like Willoughby East and Middle Cove are experiencing impressive growth. Their 12-month increases of $272,500 and $268,000 respectively.

Mosman takes the crown for the biggest annual increase, with a $294,000 median house price jump from last year. All three suburbs rank within Sydney’s top 16 suburbs for growth, solidifying the lower north shore as an in-demand area for families, young professionals, and retirees alike.

High-end property sales are also on fire, surging 12% year-over-year with 333 properties exceeding $5 million sold. Mosman continues to dominate the luxury market, with the most luxury house (145) and unit sales (39) in Australia.

Luxury sales are also on the rise. Pictured here: the stunning 40 Parriwi Road, Mosman, which recently changed hands. Image: Ray White

Mosman’s dominance extends to individual streets. The suburb boasts 8 of the top 10 most expensive house-selling streets on the lower north shore, with Parriwi Road and Kardinia Road Mosman topped the list recording¬†a median sales price¬†of $13,000,000 and $12,250,000 respectively.

Milsons Point’s Million-Dollar Views

While Mosman dominates houses, Milsons Point takes the crown for units. Cliff Street (near Luna Park) boasts the priciest units at a median of $7.25 million. Hayes Street in Neutral Bay and Kiara Close in North Sydney follow closely with $5.5 million and $3.225 million medians, respectively.

With consistent growth and record-breaking sales, the lower north shore is poised for another strong year. Armed with these stats, you’ll be the one in-the-know the next time you’re at a barbecue or dinner party and the conversation turns to real estate!

This data has been supplied to us by the Ray White Lower North Shore Group, who have offices in Mosman, Willoughby, Crows Nest and Cammeray.

If you would like to discuss the market in detail, please get in touch with them at raywhitelowernorthshore.com.au.

 

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