What Makes the Lower North Shore Different?
The Lower North Shore is where you really need to understand what you’re buying.... and sometimes even more importantly, precisely where you’re buying.
Mosman, Cremorne, Neutral Bay, Cammeray, Kirribilli and change significantly from street to street. Aspect, views, traffic, access, parking and even which side of the street you’re on have a big impact on value.
There’s also a lot of tightly held property. When a genuinely good homes or well-positioned apartment come onto the market, you can find yourself competing with buyers who have been waiting months... sometimes years... for the right property.
Know What You're Competing Against
One thing I see on the Lower North Shore regularly is buyers with strong budgets who know what they want.
You’ve got local families wanting to upsize whilst also staying close to their existing community. You’ve got downsizers selling larger homes and looking for quality apartments (with no stairs). Then there are professionals and expats who want a location with the best transport links to get into the CBD without giving up lifestyle.
The common theme is that good property still attracts good competition.
Don't Get Caught Up in the Auction
The Lower North Shore has some very experienced selling agents and auctioneers. When there are 3 or more buyers the price moves up as they are all emotionally invested in a property.
Before auction day, you need to know what you think the property is worth, what you're prepared to pay and where you stop.
That sounds obvious, but most people don't have that hard line in the sand. I would go as far to say - no buyer has a hard line in the sane. That's because when you’ve spent six months looking, missed out twice already and finally find a property you love - you second guess yourself, and your budget, during the auction.
Off-Market Doesn't Automatically Mean a Good Buy
There are plenty of pre market and off market opportunities across the Lower North Shore, particularly when agents know they have qualified buyers ready to act. But I always tell clients the same thing: off market doesn't automatically mean good value. You still need to assess the property properly, understand the comparable sales and complete your due diligence. The advantage is getting the opportunity... not automatically getting a bargain.
Don't Ignore Older Apartments
For apartment buyers, I wouldn’t automatically dismiss the older 1950s, 60s and 70s blocks.
Some have larger floor plans, better proportions and great positions compared with newer developments. A dated kitchen or bathroom can be changed. Location, natural light, aspect and the fundamentals of the building are much harder to change.
The important part is understanding the strata. Before buying, you want to know how the building has been maintained, is there money available for future works and are there significant issues or special levies on the horizon.
Buying on the Lower North Shore can be competitive, but that doesn't mean you need to rush.
Understand the property, understand its value and define your strategy before you start negotiating. Sometimes the right decision is to push hard for a property. Other times, it's to say no, walk away and wait for the next one.
That's a big part of what I do for my clients as a buyer's agent – helping them buy right, not just buy now.