Almost a quarter of the northern suburbs of Sydney have seen their real estate records smashed this year, with some big name sellers and buyers.
Almost a quarter of the northern suburbs of Sydney have seen their real estate records smashed this year.
There are 106 north shore and northern beaches suburbs in Sydney and 24 of them have new residential records in 2022.
The $30m barrier was breached for the first time, a couple of suburbs have had their records broken more than once and some of the new highs are millions of dollars above previous records.
NRL great Brad Fittler and F45 Founder Adam Gilchrist are two of the sellers enjoying the spoils of those sales.
Epic penthouses sell for $60m and $70m
This Stanley Ave, Mosman, home sold for $33m in February, a new record.
An Elamang Ave, Kirribilli, property sold in February for $19.1m.
While vendors include a member of AC/DC’s entourage and a Tesla mover and shaker.
Agents comment that a new wave of buyers sought out Sydney’s northern suburbs in 2022 in the wake of Covid eager for space and lifestyle rather than proximity to work, many buyers were expats making the most of a weak Australian dollar and many prestige buyers were paying cash, or close to cash.
The top sale of the year northside was $33m in March for a house in Stanley Ave, the first time a residential property has sold for more than $30m north of the harbour.
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Florian Struengmann, the son of a German vaccine billionaire is the new owner, moving from Sydney’s Eastern Suburbs.
This Plunkett Rd, Balmoral property smashed the Mosman auction record last weekend when it sold for $16.3m.
Kyeema, in Water St, Wahroonga, sold for $14.5m in September.
In nearby Cremorne Point a whole floor penthouse in Milson Rd, that has once been part of a hotel changed hands for $27.5m.
Chair of Tesla Robyn Denholm is the purchaser paying the highest price in the state for an apartment outside of the CBD tower market and a new record for Cremorne Point.
Then in Kirribilli an underdeveloped waterfront landholding in Elamang Ave blew the suburb record of $12.3m out of the water selling for $19.1m, it’s auction guide was $17m.
Michael Coombs, of Atlas, sold a deep waterfront in Northbridge for a suburb record of $25m and said more buyers were valuing regions close to the city with good communities and schools.
“Buyers are not so suburb focused,” he said.
Manly’s most expensive address.
“Buyers from the Eastern Suburbs are up 20-30 per cent this year and they are loving the waterfronts and the harbours and bays of the lower north shore,” he said.
Mosman also saw its highest auction result this year with a Balmoral home selling for $16.3m under the hammer, $1.8m above its price guide.
Stefon Bertram, of Pello, had been guiding $14.5m for the five-bedroom home in Plunkett Rd.
It is very unusual for a property at that price level to be auctioned but eight parties registered for the property.
Meanwhile, on the upper north shore, nine suburbs have new records including Wahroonga which had its suburb record reset twice in three months.
F45 founder Adam Gilchrist broke records when he sold this Ocean View Rd, Freshwater, home for $14.05m in August.
The view from the Bower St, Manly, home, which sold for $23m in March.
Tim Fraser, of Di Jones, sold a grand estate in Braeside St in July for $13.03m then proceeded to top that with a $14.5m sale for another estate in Water St in September.
“The upper north shore followed the buoyancy of the lower north shore, we had big sales in the second half of the year with expats chasing space,” he said.
“These upper north shore suburbs had never seen so many eight-figure sales nor so many sales north of $10m,” Fraser added.
One of the new suburb records, $16.3m in Warrawee, is about to settle and that will reveal the address of the latest upper north shore record holder.
The remaining 12 suburbs with new records are on Sydney’s northern beaches and include high-profile personalities.
Co-founder of the fitness group F45, Adam Gilchrist, set a record for Freshwater with the sale of his Ocean View Rd house in August for $14.05m.
F45 founder Adam Gilchrist.
Agent Michael Clarke, of Clarke & Humel, said since Covid Sydneysiders have woken up to the lifestyle on offer on the northern beaches and have been prepared to dig deep for the right home.
“I have never had more people from the Eastern Suburbs buying and they are not historically where our buyers come from,” he said.
Clarke also sold a house in Bower St, behind Shelly Beach, for $23m this year – a new record for Manly.
Further up the peninsula, former Miss Universe Jennifer Hawkins and her builder husband Jake Wall may well secure a suburb record for the four-storey house they are building in Whale Beach.
The Pacific Rd, Palm Beach “weekender” sold for $27.5m in June, and it’s not even on the water.
Brad Fittler’s Terrey Hills home sold for $12m in February.
A figure of $30m is being quoted for the property which is being constructed on a double block in Rayner Rd once owned by the late soprano Dame Joan Sutherland.
However, as the property hasn’t yet sold the record for Whale Beach is $14,125,000 set in May this year for a five-bedroom house in Malo Rd.
NRL champion Brad Fittler holds the record for Terrey Hills selling his 2.19HA with ocean views for $12m in February this year.
But the big ticket sale for the northern beaches in 2022 was $27.5m for a weekender in Palm Beach, that’s not even on the water.
NRL Brad Fittler enjoyed a $12m windfall in Terrey Hills. Photo by Ian Hitchcock of Getty Images.
The elevated Pacific Rd property has views both to the ocean and Pittwater.
It was bought by Richard White who used to repair guitars for AC/DC but who is now a software billionaire and founder of WiseTech Global. It’s a long way to the top but this Palm Beach sale is among the top sales of the year in Sydney.
There are a couple of grand estates for sale at the top of the northern beaches that will take Sydney northside prices into a whole new league.
Celeste on Cabarita Rd, Avalon has just come to market with $50m expectations and Bellona on Ocean Rd, Palm Beach could trade for $40m.
They are each vast generational properties that will reset suburb records that will stand for many a year.
Richard White, founder and major shareholder of Wisetech Global, a logistics software business worth $17bn, bought up big in Palm BeachPicture: Jonathan Ng
White used to repair guitars for AC/DCPicture: Supplied.
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SUBURB RECORDS BROKEN IN 2023 IN SYDNEY’S NORTH
(Suburb; address; price)
Artarmon; Stafford Rd; $6.8m in April
Beacon Hill; Brooker Ave; $6,565,000 in August
Castle Cove; Neerim Rd; $22.2m in March
Castlecrag; Edinburgh Rd; $23.5m in July
Collaroy Plateau; Edgecliffe Blvd; $10m+ in November
Cremorne Point; 9/50 Milson Rd; $27.5m in August
Curl Curl; Ellen St; $9.4m in May
Davidson; Craig Pl; $3.37m in March
Dee Why; Summit Ave; $9,225M in April
The Artarmon record holder in Stafford St.
Fairlight; Fairlight Cres; $13,384m in February
Freshwater, Ocean View Rd, $14.05m in August
Kirribilli, Elamang Ave, $19.1m in February
Manly, Bower St, $23m in February
Mona Vale, Rednal St, $13m in March
Mosman, Stanley Ave, $33m in March
Northbridge, Coolawin Rd, $25m in February
Palm Beach, Pacific Rd, $27.5m in June
Roseville Chase, Lockley Pde, $6.67m in March
Pymble, Ganmain Rd, $15m in May
Terrey Hills, McCarrs Creek Rd, $12m in February
Turramurra, Ku-ring-gai Ave, $11.2m in September
Wahroonga, Water St, $14.5m in September
Whale Beach, Malo Rd, $14.125m in May
Story Credit: news.com.au