Number of Upper North Shore suburbs with median house prices of $3m or more triples in a year

This time a year ago, the Upper North Shore was home to just four suburbs with median house prices above $3 million – one of those more than $4 million.

In just 12 months, that number has skyrocketed to 13 – with two of them breaking the $4 million barrier.

And as new listings – especially houses – start to dwindle thanks to winter and the Covid lockdown, more suburbs are just a smidgen away from being added to the list, which is compiled from realestate.com.au’s latest Market Trends report.

The members of the $3 million-$4 million median house price club include: Castle Cove (median $3,138,500, up 21.4 per cent in 12 months); Castlecrag ($3,359,400, up 5.8 per cent); East Lindfield ($3,350,000, up 28.1 per cent); East Killara ($3,100,000, up 26.5 per cent); Warrawee ($3,325,000, up 24.9 per cent); Killara ($3,610,000, up 25.9 per cent); Willoughby East ($3,400,000, up 19.3 per cent); North Willoughby ($3,250,000, up 15.5 per cent); Lindfield ($3,090,000, up 7.3 per cent); Greenwich ($3,202,500, up 14.3 per cent); and Roseville ($3,169,500, up 18.3 per cent).

There are two suburbs with median house sale prices of $4 million or more on the upper north shore – Northbridge ($4,305,000, up 33.6 per cent); and Longueville (down 0.05 per cent). There was one suburb that was knocked off the $3 million-plus bracket. Artarmon’s median house price fell in the past 12 months by 19.7 per cent, from $3,206,000 to $2,575,000).

Northbridge now holds the crown as the upper north shore’s most expensive suburb. 

“You can really feel it on the ground – there’s been a complete transformation in what people are prepared to pay,” he said.

Stock shortage has also helped push prices up.