The Lower North Shore real estate market has surged into 2025 with strong momentum. Our team has launched 147 properties, responded to over 20,824 email enquiries, and welcomed 6,760 groups of potential buyers through our open homes. As this report is being finalised, we have successfully helped 97 vendors achieve their property goals in a competitive yet promising market.
One of the major headlines this year has been the February cash rate reduction, which has significantly boosted buyer confidence. Since this announcement, we’ve seen a notable increase in property enquiries and a surge in open-home attendance. On average, each campaign has generated 142 email enquiries and attracted 46 groups of potential buyers.
With the upcoming election and evolving external factors such as international relations and economic conditions, the Lower North Shore property market continues to demonstrate resilience and adaptability. Home to some of Sydney’s most affluent and prestigious suburbs, offering an exceptional lifestyle, it consistently performs despite uncertainties. Let’s take a closer look at the key suburbs and explore insights from our various departments to understand how the market is shaping up in 2025.
This quarter, we’ve remained cautiously optimistic. Following the Reserve Bank of Australia’s rate announcement, many of our clients have benefited from lower monthly repayments. While the reductions may be incremental, every dollar saved is a dollar back in our clients’ pockets rather than the banks’.
Anticipation is building for further rate cuts, driving a surge in activity. We’ve seen an influx of clients finalising transactions and securing pre-approvals to enter the market with confidence and take advantage of improved borrowing conditions. Demand has been balanced between investment lending and owner-occupied purchases, reflecting a diverse range of client needs.
In addition to new purchases, refinancing remains a key focus—whether it’s the end of a fixed term, accessing additional funds, or simply securing a more competitive rate. Private funding is also becoming increasingly common as clients seek alternative solutions without waiting for eligibility from mainstream lenders.
With nearly 80% of all new loans now facilitated by mortgage brokers, expert guidance has never been more crucial. In today’s competitive lending landscape, having a skilled and strategic broker dedicated to working in your best interests isn’t just an advantage—it’s essential.
The Low and Mid-Rise Housing Policy has recently been gazetted and is now legislation.
The policy focuses on offering a variety of housing options in well-located areas. The NSW Government and Planning NSW have announced a series of reforms with the aim of making housing more affordable across the state and creating a more diverse and accessible housing market.
The policy targets residential-zoned areas located within 800 metres of key amenities, also known as “Town Centres” or “Transport Hubs”. The goal is to increase housing options in these areas while promoting sustainable, walkable communities.
These are the most significant planning changes I’ve seen in my 30 years of working in the development industry. The changes are far more wide-reaching than we had anticipated. While we often focus on our local neighbourhoods, it’s important to keep in mind that these changes apply across the state, including Newcastle and Wollongong, and to most of the 171 Town Centres in the Sydney metropolitan area.
The policy will create a significant number of new dwellings across the Sydney area, including duplexes, semi-detached houses, terraces, and apartments.
If you’d like to understand the zoning of your property and neighbourhood or discuss how these changes may affect you, our Projects & Developments Team is here to help. Please don’t hesitate to get in touch for a confidential chat.
Current Projects
We are excited to announce that several of our key projects are well underway.
Completed Projects
Canopy Crows Nest, a project developed by Metro Property Group, has recently been completed and is now sold out. Purchasers at Canopy responded positively to the low-maintenance, four-bedroom terrace-style dwellings, designed by local architects Corben Architects and built by Creation Projects.
Upcoming Projects
As the property landscape continues to evolve with these significant changes, our team is committed to keeping you informed and assisting you in navigating the opportunities these developments present.
The rental market has experienced fluctuations with notable shifts in investor behaviour. December and January saw strong new business growth, whereas February and March experienced a slowdown. A key trend emerging in 2025 is that seasoned investors are not actively expanding their portfolios; instead, many are opting to sell their assets or rent them out on a short-term basis before listing them for sale.
Stock levels for rental properties remain historically low, dropping from 50 available properties in 2023 to 30 in 2024 and now to approximately 20 in 2025. While low supply typically suggests higher rental prices, market sensitivity means that if a property isn’t leased within the first week, landlords will have to consider price reductions to secure tenants.
Tenant demand remains particularly strong in the $750–$900 range, with one-bedroom apartments maintaining stable rental prices despite last year’s rent increases. However, high-end rental stock remains limited, leading prospective tenants to widen their search across multiple suburbs.
The housing market is set for significant reforms in 2025. In addition to the cash rate and zoning changes, new tenancy legislation will also come into effect this May. To help landlords navigate these changes, our Property Management Team will be hosting an information evening on the upcoming tenancy laws. Stay tuned for more details, or email me directly to register your interest: michelle.lucas@raywhite.com.
The Lower North Shore has seen a sharp rise in commercial sales opportunities, particularly along Mosman’s tightly held Military Road retail strip. Historically, properties in this area have been passed down through generations, with sales south of Spit Junction occurring rarely—often just one per year, if any. However, the landscape is shifting following the NSW Government’s announcement of the new Low and Mid-Rise Housing Reforms, which are expected to further impact the developer market later this year. Meanwhile, leasing activity has remained steady, with strong demand from tenants in the food and beverage, wellness, fitness, beauty, and medical sectors, all seeking prime locations along Military Road.
Mosman continues to be one of the most prestigious and high-performing suburbs on the Lower North Shore, with strong demand across various price points. The suburb’s median house price has risen by 9.8% over the past 12 months, now sitting at $6,000,000. Units have also experienced steady demand, recording a 3.6% annual price growth, particularly driven by downsizers and young professionals.
February auction clearance rates have been a strong indicator of market health, with a 100% clearance rate for houses recorded over two consecutive weeks. Open homes have seen a diverse mix of buyers, from families to investors, demonstrating the suburb’s wide appeal. However, price sensitivity remains evident, as buyers carefully evaluate value before making offers. The recent interest rate cut is expected to further stimulate competition in the sub-$5 million segment, making it a dynamic space to watch.
The luxury market in Mosman remains a key driver of price stability and growth. Properties with unique architectural features, expansive views and private amenities continue to command a premium. While buyers remain selective, homes offering rarity and exclusivity are achieving strong results.
Highlights Sales
Take 36 Hopetoun Avenue, Mosman, as an example. This elegantly reimagined 1920s-style home by Burley Katon Halliday captivated buyers across Sydney from the moment it hit the market. Positioned in Mosman’s coveted golden triangle, it offers breathtaking Middle Harbour views and rare gated access to foreshore pathways leading directly to Chinamans Beach and Rosherville Reserve. The property’s north-facing aspect and lush tropical landscaping ensure privacy, epitomising Mosman’s exclusive waterfront lifestyle. With 141 groups through open homes and 154 email enquiries received throughout the campaign, the property was sold prior to auction, reinforcing the ongoing demand for prestige properties in the area.
Another standout sale this quarter was 1 Mulbring Street, Mosman, which was sold in just six days. After a highly attended first open home with 19 inspection groups and 120 email enquiries in less than a week, the property was quickly secured by an eager buyer. Positioned in a convenient Mosman location with easy access to everyday essentials, it attracted significant interest, reflecting the strong demand for well-presented, move-in-ready homes that require minimal renovation and allow buyers to settle in quickly.
Cammeray’s property market has remained exceptionally strong through the first quarter of 2025, supported by consistently high demand and limited stock. The suburb is known for its tightly held properties, contributing to a competitive market where buyers are eager to secure a foothold.
Highlights Sales
Cammeray Market Snapshot | January – March 2025
Median House Price: $3,247,500
Median House Price Growth: Up 6.5% compared to the same quarter in 2024
Median Unit Price: $1,320,000
Media Unit Price Growth: Down 4.0% compared to the same quarter in 2024
Deep property ownership remains a defining feature of Cammeray, with many homes held across generations. This creates scarcity, supporting strong pricing and long-term market confidence.
The first quarter of 2025 has seen a notable increase in property listings, providing buyers with greater choice and flexibility. This shift is encouraging for homeowners looking to transact within the same market, as it allows them to buy and sell with confidence.
The recent interest rate cut—the first since 2020—has the potential to stimulate upward price movement as borrowing power increases. While price growth may not be immediate, historical trends suggest that lower interest rates drive stronger market activity over time.
After a period of economic uncertainty, easing cost-of-living pressures is helping to restore confidence among buyers and sellers alike. As household budgets stabilise, prospective purchasers are re-entering the market, driving buyer sentiment. This renewed optimism, coupled with favourable lending conditions and increased property availability, is paving the way for a positive trajectory in Sydney’s Harbourfront property sector.
Crows Nest Market Snapshot | January – March 2025
Median House Price: $2,862,500
Median House Price Growth: Up 12.8% compared to the same quarter in 2024
Median Unit Price: $970,000
Media Unit Price Growth: Down 7.6% compared to the same quarter in 2024
Kirribilli Market Snapshot | January – March 2025
Median House Price: $5,000,000
Median Unit Price: $1,725,000
Media Unit Price Growth: Up 6.8% compared to the same quarter in 2024
The start of 2025 has seen an influx of listings in Willoughby, Artarmon, Castlecrag, Northbridge, Middle Cove, and Castle Cove. Buyer activity has surged, with new buyers eager to secure a foothold in these highly sought-after suburbs.
Renovated properties are achieving premium prices, often selling before auction as buyers recognise the value of move-in-ready homes. Additionally, large blocks of land with redevelopment potential are attracting increased interest, driven by the growing demand for new builds.
The combination of strong buyer confidence, limited stock, and high-quality properties is setting a positive trajectory for Willoughby and its neighbouring suburbs in the coming months.
Highlight Sales
Willoughby Market Snapshot | January – March 2025
Median House Price: $3,550,000
Median House Price Growth: Up 8.9% compared to the same quarter in 2024
Median Unit Price: $1,252,500
Media Unit Price Growth: Up 6.1% compared to the same quarter in 2024
Artarmon Market Snapshot | January – March 2025
Median House Price: $3,328,000
Median House Price Growth: Down 9.4% compared to the same quarter in 2024
Median Unit Price: $1,145,000
Media Unit Price Growth: Up 11.4% compared to the same quarter in 2024
Castlecrag Market Snapshot | January – March 2025
Median House Price: $4,180,000
Median House Price Growth: Down 0.5% compared to the same quarter in 2024
Northbridge Market Snapshot | January – March 2025
Median House Price: $5,400,000
Median House Price Growth: Up 7.2% compared to the same quarter in 2024
Median Unit Price: $1,400,000
Media Unit Price Growth: Up 1.4% compared to the same quarter in 2024
If you would like any advice on the market, please get in touch with our team. We’re here to help.
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