We’ve brought together our top agents across Sydney’s most prestigious areas to work as one connected team with the broader Knight Frank network.
Our network of specialists collaborates closely, sharing their deep local market insights and exclusive high-net-worth clients to leave no stone unturned in finding the ultimate buyer for your home.
When you list with us, you’re not just getting one local expert, you’re getting an entire team of McGrath’s leading agents working to find the right buyer for your property.
Whether that perfect buyer lives nearby, across the city or in another country, our collaborative approach ensures your home reaches them.
In the following pages, you’ll see some of the impressive results our network has delivered for clients over the past year.
Sydney Prestige Market Summary
Compared to one year ago, Sydney’s prestige residential market has outperformed across most leading indicators for 2024. Prestige sales transaction volume trended higher,
Key Drivers
The Reserve Bank of Australia (RBA) lowered the cash rate target to 4.10% in the February 2025 meeting in to order to stimulate the Australian economy, this was held steady in the April 2025 meeting.
Business conditions were 3.2 points above the average in December 2024 in the NAB business survey, although this trended lower than the 5.5 pts recorded a year earlier. Company gross operating profits rose 5.9% in 2024 after recording 7.4% in 2023, although growth in new private business investment was down from 8.8% to 0.3% over this time.
the average time on market to sell a home was shortened, prestige residential values and rents grew stronger and gross rental yields rose.
There tends to be a strong correlation between an upward trending stock market performance and the growth in prestige property prices. The S&P/ ASX 200 annual growth eased from 17.3% in September 2024 to 7.5% in December 2024.
Australasia’s wealthy population grew by 3.9% in 2024, to 49,367 people with net wealth of more than US$10 million. This population is forecast to grow by a further 5.3% by the end of 2028 according to the Knight Frank Wealth Sizing Model.
Number of Sales
Although more homes were listed on the market at the end of 2024, Sydney’s prestige market saw a growing number of transactions take place at a faster pace than a year ago.
Overall, there were 4.7% more Sydney residential listings in the month of December 2024, compared to a year ago (Corelogic).
Sydney’s prestige sales rose 27.1% in 2024 to total 1,630 home sales, compared to 2023, according
to McGrath Research. The number of prestige sales across Sydney trended up 4.2% between Q3 2024 and Q4 2024, to total 370 sales in the fourth quarter of 2024. Although, this was lower growth than the same quarter (at 122%) one year ago.
Sydney prestige homes were listed on the market for an average 72 days in the Q4 2024 quarter. This was slightly higher than 69 days one quarter ago, but lower than 78 days a year ago.
Sydney Prestige Prices - Performance over past 5 years
Contrary to the price performance being sustained in the lower end of the core residential market and the top 1% of the market in Sydney, prestige prices across the top 5% of the market saw 1.1% growth in 2024, with -0.8% price performance recorded in the last quarter of the year. Since 31 December 2019, Sydney prestige prices have grown by 23.2%.
Sydney’s prestige annual price performance trended below the global average of 3.2% at the end of 2024, which ranked Sydney at 28 place from 44 global cities in the Knight Frank Prime Global Cities Index.
With slightly more homes on the market, global uncertainty and the lead up to potential rate cuts has slowed price performance.
Following more sustainable growth in 2025, with restored confidence in H2 2025 post-election, McGrath Research forecast 3% prestige price growth in 2026 and a further 5% in 2027.
Rental Performance
Rental Outlook
Sydney Prestige Rents - Performance over past 5 years
Looking at Sydney prestige homes from an investment perspective, gross rental yields were lifted by 3 bps in Q4 2024 to average 2.54%, whilst this was 6 bps higher than a year ago.
Construction costs continue to delay new developments kicking off, mainly driven by labour whilst material costs remain elevated. This is capping new supply coming into the market for both investors and owner occupiers. As a result, prestige property rents in Sydney have increased by 43.2% since 31 December 2019.
Sydney prestige rental growth was 0.5% in the December 2024 quarter, rising 4.7% in 2024. This trended at more than double the global average of 2.2%, where Sydney ranked 5th place from 16 prime cities tracked in the Knight Frank Prime Global Rental Index.
Prestige residential rents in Sydney are forecast to increase a total of 3% by the end of 2025, and a further 3% in 2026 and 4% in 2027, according to McGrath Research.
5 Sea Street Hunters Hill
An absolute waterfront masterpiece of incredible elegance and grandeur
Sold for $16,515,000
43 Prince Albert Street Mosman
Stunning contemporary oasis in this exquisitely reimagined early-century classic
Sold for $15,000,000
Architectural home reveals vast harbour backdrop 106 Arabella Street Longueville
Sold for $14,780,000
Magnificent designer sanctuary on the water’s edge 54 Lucretia Avenue Longueville
Sold for $13,400,000
Commanding a prime position above Balmoral Beach 41 Redan Street Mosman
Sold for $12,889,000
Longueville
Framed by stunning 180 degree vistas of Yacht Bay 20 Belcote Road
Sold for $12,550,000
This stately home melds timeless elegance with modern design 7 Cable Street Wollstonecraft
Sold for $9,100,000
Breathtaking Victorian residence masterfully reimagined 24 Harbour Street Mosman
Sold for $8,200,000
32 Roseville Avenue Roseville
Presenting magnificent period elegance and remarkably spacious proportions
Sold for $7,800,000
4 Roslyn Avenue
Roseville
Period elegance with modern luxury in a meticulously renovated two-level design
Sold for $7,800,000
12 Malton Road Beecroft
A local landmark of architectural significance and timeless grandeur
Sold for $7,550,000
6 Waterview Street
Putney
Treasured family residence set privately on the unique waterfront headland
Sold for $6,780,000
2202/2 Dind Street Milsons Point
Luxurious sub penthouse revelling in phenomenal harbour views
Sold for $5,150,000
12 The Point Road Woolwich
This c1890 waterfront home combines state-of-the-art interiors with premium grade finishes across four levels
Sold Confidential
2 Milray Avenue Wollstonecraft
Architecturally designed for seamless in/outdoor living
Cit y & East:
53-55 Cranbrook Road, Bellevue Hill 78 Kambala Road, Bellevue Hill 38 Roslyndale Avenue, Woollahra 5403/1A Barangaroo Avenue, Barangaroo 4 Cranbrook Road, Bellevue Hill 5 New South Head Road, Vaucluse 8 Cooper Street, Paddington 315/180 Campbell Parade, Bondi Beach
53-55 Cranbrook Road
Bellevue Hill
blue-ribbon family estate with world class harbour views
Sold for $43,500,000
‘Monkton’
78 Kambala Road
Bellevue Hill
Architectural masterpiece and a world class entertainer on a 1,567sqm block
Architecturally and thoughtfully crafted c1854 by Frederick Clarke embodying Dutch colonial style 38 Roslyndale Avenue Woollahra
The apex of luxury living within ‘One Barangaroo’ 5403/1A Barangaroo Avenue Barangaroo
Sold for $17,500,000
Stunning private five bedroom family home on 677sqm in exclusive enclave 4 Cranbrook Road Bellevue Hill
Sold for $16,600,000
5 New South Head Road Vaucluse
Flowing effortlessly, the floorplan has been carefully considered to accommodate a growing family for years to come.
Sold for $12,500,000
8 Cooper Street Paddington
This outstanding home is arguably his most spectacular Paddington creation.
Sold for $13,250,000
315/180-186
Campbell Parade Bondi Beach
Eye level panoramas of the sand and surf beckon in this outstanding residence
Sold for $9,200,000
102/134 Campbell Parade Bondi Beach
Benchmark apartment with impeccable finishes and superior craftsmanship
Sold for $8,500,000
Inner West:
Exquisite state-of-the-art sanctuary boasting worldclass resort entertaining 23 South Street Strathfield
Sold for $16,880,000
Prestigious waterfront parcel with private beachfront access 44 St Georges Crescent Drummoyne
Sold for $14,000,000
52 Woodside Avenue Strathfield
Magnificent estate, set on a colossal 2,460sqm parcel with 30.48m frontage
Sold for $12,500,000
23 Firth Avenue
Strathfield
Palatial home reveals a refined sense of grandeur
Sold for $10,650,000
100 Barker Road
Luxury home showcasing breathtaking interiors and resort style entertaining
