27 August 2025
We sat down with Scott Braid, Director | Prestige Residential Valuations at Charter Keck Cramer to discuss prestige residential market trends across Australia, with insights from Sydney's Northbridge market
What makes suburbs like Northbridge (New South Wales) representative of Australia's prestige residential market landscape?
Northbridge exemplifies the key characteristics we see across Australia's prestige residential markets. Located on Sydney's Lower North Shore, it exhibits many factors which influence luxury residential value: a prestige and reputable location, natural amenity and scarcity.
What's particularly interesting about Northbridge is how it features the premium suburb dynamics we observe nationally. Like Toorak in Melbourne or Cottesloe in Perth, it combines established reputation with limited housing stock and strong family appeal. The suburb's median house price of around $5 million places it firmly in the prestige category, but more importantly, it shows the consistent demand patterns we see across Australia's top-tier residential markets.
The recent $42.75 million sale on Coolawin Road - nearly doubling the previous Northbridge record - reflects the broader trend we're seeing in Australia's prestige markets, where exceptional properties are achieving unprecedented prices.
How do waterfront premiums in markets like Northbridge compare internationally and across Australia?
This is where Australia truly stands out globally. Recent research from McGrath Research (Feb 2025) shows Sydney's waterfront premium reached 124% in 2024 - the highest globally, surpassing prestigious locations like Miami (93%) and the Bahamas (72%). Northbridge's waterfront streets like Coolawin, Minimbah and Dorset Roads are perfect examples of this phenomenon.
Across Australia, we're seeing significant waterfront premiums, though Sydney leads the charge:
- Sydney: 124% premium (up from 95% in 2019)
- Brisbane: 56% premium (up from 45% in 2019)
- Melbourne: 41% premium (up from 27% in 2019)
What makes Northbridge particularly valuable is its Middle Harbour frontage - absolute waterfront properties with deep water access and uninterrupted harbour views. These characteristics are increasingly rare across all Australian capital cities, with waterfront homes often staying within families for generations.
The scarcity factor cannot be overstated. Despite Australia's extensive coastline, true waterfront properties with the amenity and accessibility of suburbs like Northbridge remain exceptionally limited in supply.
What does the ultra-high-end market activity tell us about Australia's luxury property landscape?
The ultra-luxury market is showing remarkable resilience and growth across Australia's major cities. Northbridge's $42.75 million sale this year is part of a broader pattern of record-breaking transactions nationwide.
We recently saw Australia's property record set with the $150 million sale of 'Coonac' in Melbourne's Toorak, while Sydney's 'Wingadal' in Point Piper is currently listed with expectations above $200 million. These transactions demonstrate that at the very top end, Australia's prestige property market is attracting significant capital, both domestic and international.
Currently, six properties in Northbridge are publicly advertised above $5 million, but like other prestige markets across Australia, many properties are transacting off-market. This trend is particularly pronounced in established luxury precincts across Sydney, Melbourne, Brisbane and Perth, where privacy and exclusivity drive transaction methodology.
The velocity of price growth in these markets has been substantial - Northbridge has seen approximately 50% median value growth over five years, which aligns with premium suburb performance across Australia's major capitals.
How are demolition and rebuild trends affecting premium suburbs nationally?
This is a defining characteristic of Australia's established premium suburbs. In Northbridge, we're observing increasing demolition of more modest, original dwellings to make way for contemporary architect-designed homes. This trend is mirrored across premium suburbs nationally.
The pattern is consistent whether you're looking at Toorak's heritage overlays, New Farm's character housing or Cottesloe's beachside cottages. Families are choosing to build bespoke homes that meet contemporary lifestyle requirements - multiple bedrooms, distinct living zones, dedicated work-from-home spaces and integrated indoor-outdoor living.
This rebuild activity is enhancing overall suburb values. When a $2-3 million original home is demolished and replaced with a $6-8 million contemporary residence, it lifts the entire street's value proposition. We see this effect particularly strongly in family-oriented prestige markets across all capital cities.
The key driver is changing family lifestyle requirements. Premium suburb buyers across Australia are seeking homes configured for modern family life, often with multi-generational living capabilities, which older housing stock doesn't readily provide.
What role do amenities and community infrastructure play in sustaining premium suburb values?
Premium suburbs across Australia share common infrastructure characteristics that underpin their value sustainability. Northbridge demonstrates this with Northbridge Plaza shopping, quality primary schools and the Northbridge Golf Club - creating a complete lifestyle ecosystem within the suburb boundaries.
This self-contained amenity approach is replicated across Australia's prestige residential markets:
- Melbourne: Toorak's proximity to private schools and shopping precincts
- Brisbane: New Farm's river access, dining and cultural facilities
- Perth: Cottesloe's beach access and established retail strips
- Adelaide: Unley's park access and established commercial areas
The community aspect is particularly important for family-oriented prestige markets. Northbridge's "distinct sense of community" is a common characteristic across Australia's most sustainable luxury suburbs. These areas maintain their appeal across market cycles because they offer complete lifestyle solutions rather than just expensive housing.
Transport connectivity also plays a crucial role. Northbridge's position approximately 8km from Sydney's CBD, with established transport routes, mirrors the connectivity premium we observe in equivalent suburbs across Australian capitals.
What should buyers and investors understand about Australia's prestige residential market outlook?
The outlook for prestige residential markets across Australia remains strong, driven by fundamental supply and demand imbalances. Northbridge exemplifies the key characteristics that will continue supporting premium values: established reputation, scarcity and limited developable land, natural amenity and strong community infrastructure.
Market performance varies by city - 2024 data by PropTrack shows Perth (+18.74%), Adelaide (+14.64%) and Brisbane (+12.56%) recording stronger growth rates than Sydney and Melbourne in the past year. However, absolute values and transaction volumes in Sydney and Melbourne's premium suburbs continue to set national benchmarks.
The increasing prevalence of off-market transactions in premium suburbs suggests sophisticated buyer activity and continued strong demand. When exceptional properties like Northbridge's waterfront estates do come to market, they're achieving prices that reflect both scarcity value and long-term holding appeal.
For buyers, understanding the local micro-market dynamics is crucial. Streets like Northbridge's Coolawin Road command premiums based on specific attributes - waterfront access, view lines and land size - that may not be replicated even within the same suburb.
From an investment perspective, Australia's prestige residential markets benefit from the lifestyle migration patterns we continue to observe, particularly the preference for family-oriented suburbs with natural amenity and established infrastructure.
Charter Keck Cramer's experienced professionals leverage extensive local market knowledge to deliver reliable advice and market-oriented outcomes, positioning us as the trusted choice for Prestige Residential Property Valuations across Australia's premium markets.
Get in touch with Scott Braid today!
