There is one pocket of Sydney that seems to forever have far more demand than supply with some buyers sometimes going a little “mad” in their quest to own real estate there.
I’m talking about Sydney’s North Shore, which is currently experiencing yet another booming market cycle as more buyers than properties available compete to purchase their own personal slice of North Shore living.
The skinny on the North Shore
Stretching from just over the northern side of the Sydney Harbour Bridge and up to Hornsby, the North Shore describes a fairly diverse mix of suburbs – and dwelling types.
From waterside wealth in hotspots to sprawling suburban living, it’s hard to summarise what living here is really like.
But, generally speaking, it’s known for its mix of locales with exceptional proximity to the water, chic villages, family-friendly pockets, and a somewhat more relaxed way of life.
Despite being an easy commute to the CBD, city life feels much further away than it is.
Suburbs are less dense than you’ll find in the inner-east and inner-west and the pace is not as frenzied.
It’s no wonder this part of Sydney is so sought-after, offering its residents the best of both worlds – the convenience of metropolitan life without quite as much of the noise, smog, and stress.
That desirability has exploded in the COVID recovery period.
The growth is being driven by a mix of existing residents upgrading their properties and those from outside the area, particularly the eastern suburbs, chasing a more idyllic premier lifestyle.
A number of different buyer groups are drawn to the North Shore, with some suburbs offering a variety of appealing factors depending on the demographic.
Empty nesters and early retirees favour some parts of the North Shore because of the strong sense of community, safety, and the slower pace of life.
While families love suburbs in close proximity to top-rated and highly regarded private schools.
Couples with plenty of cash flow like the restaurant and bar scene that certain areas are increasingly famed for.
And high-income earners and successful business owners love those pockets where you’ll find jaw-dropping trophy homes with priceless ocean views.
But across the board, living in this part of Sydney means a bigger home on a larger plot of land, an abundance of natural beauty, friendly neighbourhoods, exceptional local amenities, great communities, and proximity to world-class beaches or the harbour.
The North Shore unpacked
If you’re not familiar with the North Shore, here is your quick-shot summary of the area’s most in-demand suburbs.
Perhaps the most famous North Shore suburb is Mosman. The homes are grand, from awe-inspiring estates to well-maintained art deco apartments. The scenery is second to none, with exceptional harbour views, and the community is close-knit.
About one-third of the suburb is comprised of older couples and retirees, so it has that slightly quieter vibe than some other parts of the region. But it’s also popular with families young and old.
There’s a great café culture, some vibrant and high-end boutiques, and good local amenities. Balmoral Beach and its famed Bathers’ Pavilion is just down the road. The median house price is $4.3 million and for units it’s $1.01 million.
North Sydney has long tried to establish itself as an alternative to the CBD and had some early success drawing companies and residents from across the bridge. After stalling, the attraction has been reignited and there’s been a recent influx of major businesses relocating and a lift in demand for apartments. The median unit price is $985,000.
A few minutes down the road to the south is Northbridge, which is an increasingly popular part of the North Shore for younger families. There’s a generational change under way with some stunning homes coming up for grabs as downsizers move on. It boasts a great village feel and has a popular golf club. The median house price is $3.7 million and for units it’s $1.18 million.
Neutral Bay is one of the most famous parts of the North Shore for its beauty and prestige. It’s a simply stunning part of the region with some historic homes. It’s also has some great restaurants and shopping. The median house price is $2.2 million and for units it’s $1.03 million.
In what’s known as the Upper North Shore you’ll find your more typical family friendly suburban-style areas like St Ives, where you’re more likely to hear the sound of mowers and kids laughing than a hip café’s Spotify playlist blaring. Its median house price is $2.1 million. And of course, Hornsby is increasingly popular even though it’s further out, with first-time buyers drawn to its growing stock of new homes. Median unit prices are just $645,000 and median house prices are $1.1 million.
The North Shore is one of Sydney’s perennial hotspots with demand usually stronger than supply every day of any week, let alone now when the market is soaring.
The savviest purchasers are working with an expert team to help them secure the home of their dreams – often behind the scenes which provides privacy and unique opportunities as well.