Sydney's Mosman clocks $1 billion in annual house sales, the highest municipality across Australia
Mosman, the stylish Lower North Shore Sydney suburb, clocked a billion dollars in gross sales over the 12 months to September 2016, more than any other across the country.
The gross value of sales in Mosman was $1,047,292,200, according to CoreLogic’s Best of the Best 2016 report.
The median value of houses in the suburb is $3,564,639.
Brighton, an affluent beachside suburb of Melbourne, was a distant second with gross sales of nearly $857 million for the same period.
Among the recently sold houses near the median value, was a four-bedroom house at 8A Bickell Road, Mosman, NSW 2088 (above) that traded for $3.3 million.
The property was sold through McGrath.
This sleek architectural home with views over Quakers Hat Bay last traded for $165,000 in 1979, meaning the house has appreciated exactly 20 times that price in the last 37 years.
There were more than 300 sales in Mosman during the period, with the highest being a six-bedroom period home — built in 1910 — for $15.5 million, according to RP Data.
The $15.5 million Federation Queen Anne Style 1910 family estate at 30 Bradleys Head Road, Mosman (below) is set on 2,244 sqm.
The house previously sold for $7,150,000 in 2001. The deal was brokered by McGrath.
Another high-profile deal of around $14.5 million that was featured in Property Observer recently relating to the sale by former Morgan Stanley and Merrill Lynch head of fixed income Neale Muston.
Set overlooking Chowder Bay, the Mosman house (below) was bought by a Chinese-origin buyer with residency.
It was sold on its second time marketing campaign this year. And in 2015 it was listed with $17 million hopes.
The architecturally designed Morella Road four-bedroom home features minimalistic styling. The sale affirms that the Chinese buyers are attracted to the “prestige” of Clifton Gardens.
It was sold by McGrath agents Michael Coombs and John Melville with a price guide of $14.5 million to $15.5 million.
The property last traded for $6.15 million in 2008 when bought by Muston who is now a director of Excalibur Trading, a private capital fund specialising in the global futures markets.
The lowest sale was a three-bedroom duplex/semi-detached house at 87 Spit Road, Mosman, NSW 2088 (below) for $1,280,000.
The deal was brokered through Cunninghams Property and the property was snapped up after just 13 days on the market.
Previously, the house sold for $875,000 in 2013, according to RP Data.
* An earlier version of this article mistakenly calculated the tally as $1 trillion.
