Mosman, renowned for its stunning views, proximity to the city, and luxurious lifestyle, has claimed the top spot in Sydney’s housing market for the second consecutive year.
Read: Mosman Property Prices Keep Climbing, and Locals Are Feeling the Pressure
According to CoreLogic’s Best of the Best Australia 2024 report, Mosman achieved the highest total value of house sales in the city, surpassing even its traditionally pricier counterparts.
In the 12 months leading up to September 2024, Mosman recorded an impressive $1.65 billion in sales value, a significant leap from the previous year’s $1.4 billion. This surge in sales was driven by a total of 238 houses sold, with the median sale price reaching a substantial $5.5 million.
The suburb’s robust performance has demonstrated the enduring appeal of its prime location and diverse housing options, solidifying its status as one of Sydney’s most sought-after addresses.
Why Mosman Continues to Draw Buyers
Michael Coombs of Atlas Mosman noted that the suburb is increasingly in demand due to its combination of luxurious estates, waterfront family homes, and its proximity to the city, making it an attractive choice for many buyers.
The area’s strong appeal is evident not only among local buyers but also among international expats. Mr Coombs noted that this year saw a significant increase in expat buyers, nearly doubling compared to 2023, and making up about 30 percent of the market share.
This influx of expat buyers contributed to a surge in activity at the beginning of 2024, with Mosman’s sales office recording a remarkable $300 million in transactions during February and March alone. The suburb’s blend of high-end properties, natural beauty, and central location near the CBD has proven to be an irresistible combination.
Eliza Owen, Head of Research at CoreLogic, explained that Mosman’s success is a direct result of the suburb’s higher price points and large sales volumes. The report reveals that while some suburbs saw a pullback in buyer interest, Mosman continued to draw significant investment, largely thanks to its mix of prestigious homes and strong market stability.
The Mosman Lifestyle: A Place to Live, Not Just Invest
What makes Mosman truly desirable isn’t just its real estate value—it’s the lifestyle it offers. Located just 8 kilometers from Sydney’s central business district, Mosman is close enough to the city to be convenient but far enough to feel like an oasis of calm. The suburb is home to some of Sydney’s most iconic attractions, including Balmoral Beach, Taronga Zoo, and numerous parks offering expansive views over the harbor.
Residents often describe Mosman as a family-friendly suburb, with a wealth of outdoor activities, excellent schools, and a strong sense of community. One local shared, “Mosman is where I grew up and holds many happy memories for me. It is a family-friendly suburb that offers a myriad of outdoor parks, beaches, and spots of natural beauty overlooking the harbours of Sydney.”
Another added, “Mosman is an amazing suburb which I have grown up in and where I am currently raising my 4 children. The neighbours are very friendly and helpful, the streets, park, and beach are always kept spotless, and the schools and childcare facilities are outstanding.”
These personal testimonials reflect the strong community spirit and lifestyle offerings that continue to make Mosman one of the most desirable locations in Sydney.
Looking Ahead
As Mosman retains its crown as the top performer in Sydney’s housing market, it’s clear that the suburb’s appeal is set to continue well into the future. Whether it’s the prestige of owning a grand waterfront estate or the lifestyle of being close to both nature and the city, Mosman remains a coveted destination for buyers, investors, and families alike.
Read: Critically Endangered Species Find New Home At Mosman’s Taronga Zoo
With a proven track record of strong sales and increasing buyer interest, particularly from expats, Mosman will undoubtedly remain one of the most dynamic and valuable suburbs in Sydney’s housing market.
Published 31-December-2024
