These are the north shore suburbs that are seeing price growth
Booming property conditions have slowed recently, but north shore suburbs are still seeing growth, thanks to hungry buyers.
CoreLogic data revealed four local suburbs have seen median house prices increase year on year.
Greenwich was on top of the pile with a median increase of 11 per cent from $2.55 to $2.751 million.
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Castle Cove, recently named the fastest selling suburb in NSW by RiskWise Property Research, was second, its median sale price now $2.681 million, following a 7.3 per cent.
Chatswood West and Artarmon were the other suburbs to experience growth, Chatswood by 5.2 per cent to $1.85 million and Artarmon 1.4 per cent to $2.5 million.
North shore property has begun the year with a spring in its step following a string of strong results on successive auction weekends.
Belle Property Lane Cove co-principal James Bennett sold 64 Ronald Ave in Greenwich for $2 million and said the suburb has always been sought after.
“It is very tightly held and there is never more than six to eight properties on the market at any one time, which makes it hard for buyers,” he said.
Di Jones Chatswood agent Adam Wong said short supply and high demand for houses had kept prices up in Chatswood West.
“There is not much stock around, but there are a lot of buyers who really want to buy property in the area,” he said.
Mr Wong said demand for property in the area was coming from newly arrived migrants and buyers looking to upsize or downsize.
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