Once bridesmaids to Sydney’s ultra-prestige postcodes, Mosman and Castle Hill have now topped Sydney’s leaderboard in total property spend during 2024. Proving that versatility and buyer appeal can outshine even the priciest postcodes, the suburbs claimed the top two spots in CoreLogic’s Best of the Best Australia 2024 report for the highest total value of sales of houses in Sydney in the 12 months to September. For Mosman, it’s a victory lap.
Retaining its crown for the second consecutive year, the harbourside hotspot hasn’t just held its ground but upped the ante with an additional $250 million in sales value, climbing to $1.65 billion in 2024. Meanwhile, Castle Hill muscled its way onto the podium, claiming second place with $1.08 billion in sales. Together, the pair accounted for more than $2.7 billion in property transactions, a feat that experts say speaks to their evolving roles in Australia’s real estate hierarchy.“Mosman is a suburb that’s more and more sought after,” said Michael Coombs of Atlas Mosman. “Those grand estates, waterfront family homes and its close proximity to the city mean it ticks a lot of boxes. But this year, we also saw a significant increase in expats – almost double from last year. So, while our offshore market pulled back, expats made up about 30 per cent of buyers. “This led to a rush at the start of the year in our Mosman office that resulted in $300 million transacting in February and March alone.”Coombs said their office also clocked the top four suburb sales of 2024 – with 46 The Grove topping the list after it fetched $30 million in March. Despite the performance, Coombs said sales were tougher to get over the line in 2024 as buyer confidence remained on shaky ground. He put the strengthened expat market down to the lowered Australian dolla