What are we seeing out there...

Q2 2023

The Lower North Shore of Sydney, encompassing suburbs such as Mosman, Neutral Bay, and Cremorne, has long been recognized as one of the most desirable and prestigious residential areas in the city. This market update provides an overview of the residential property market in these suburbs and highlights the second quarter of 2023.

The residential property market on the Lower North Shore has shown resilience and stability during the first half of 2023 While the market experienced some fluctuations, it remained robust, with steady demand and positive price growth. Property prices in Mosman, Neutral Bay, and Cremorne have continued their upward trajectory, albeit at a slightly moderated pace compared to previous years. The high demand for homes in these sought-after suburbs has supported price growth, although the rate of increase has shown signs of stabilization

Mosman

The median house price in Mosman has remained strong, and while there may be some variation in price growth between different property types, the overall trend has been positive The market for apartments in Mosman has also remained active, attracting both owner-occupiers and investors.

Neutral Bay

Neutral Bay, with its convenient proximity to the city and vibrant lifestyle, has continued to be a popular choice for homebuyers and investors alike. The median house prices in Neutral Bay have shown consistent growth, reflecting the high demand for properties in this area. The market for apartments has also performed well, catering to a diverse range of buyers seeking a convenient and connected lifestyle.

Cremorne

Cremorne, known for its leafy streets, water views, and proximity to amenities, has experienced a healthy property market during the first half of 2023. The median house prices in Cremorne have displayed positive growth, appealing to families and those seeking a suburban lifestyle The apartment market in Cremorne has remained buoyant as well, attracting buyers looking for a combination of affordability and lifestyle advantages.

Several factors have influenced the residential property market across the Lower North Shore during the first half of 2023 Some of these include:

High Buyer Demand: Online enquiry and buyer activity is high, mostly a result of low supply. The 'Suburb Stats' pages showcase how a higher number of properties are transacting compared to earlier this year.

Limited Supply: The supply of residential properties in Mosman, Neutral Bay, and Cremorne has been relatively limited, further driving up demand and putting upward pressure on prices.

Lifestyle Appeal: The Lower North Shore's desirable location, waterfront views, and access to amenities, including quality schools, shopping precincts, and recreational facilities, have continued to attract buyers seeking a premium lifestyle.

So, to recap the residential property market in the highlighted suburbs of Mosman, Neutral Bay, and Cremorne, have demonstrated resilience and stability during the first half of 2023 Prices have continued to rise, albeit at a slightly moderated pace, driven by strong demand, limited supply, and the area's appealing lifestyle attributes. As we move into the second half of the year, it is expected that the market will remain buoyant, driven by ongoing demand from buyers seeking premium properties in one of Sydney's most prestigious locations