Killara: The North Shore's strong performer

“Demand has been high all year and I expect this to continue to December,” says a principal of Luschwitz Real Estate, John Luschwitz. “I don’t think the federal election will make any difference to Killara sales results in the lead-up to the spring selling season because there’s so much demand for homes in this suburb.”

Australian Property Monitors data shows 57 Killara houses have traded this year (22 at auction, 35 by private treaty) with an auction clearance rate of 52 per cent.

Of the total number of sales, 37 per cent of properties traded at prices ranging from $1.75 million (for a three-bedroom house on a 959 sq m block in Redgum Avenue) to $6.5 million for a 4022 sq m Nyora Street estate (with a modern four-bedroom residence, tennis court and swimming pool) sold in February.

People move here because

Killara is a prestigious suburb with large family houses on big blocks of land, many with tennis courts and swimming pools. On the north shore line, Killara has train access to the city and the various schools on the upper and lower north shore.

Price range

Houses from about $800,000 to about $7.5 million.

Best addresses

Springdale Road; Arnold and Forsyth streets.

The prospects

The economist at Australian Property Monitors, Matthew Bell, says: “Killara is definitely at the prestige end of the market.This suburb’s median house price has been above $1 million since 2003 [it’s now $1.55 million]. Prices fell in line with most other prestige suburbs in 2008 but rose by 20 per cent in the past 12 months, in line with other expensive suburbs.Time spent on the market has fallen consistently in the past 12 months and demand remains strong.”

Where else you might try

East Lindfield

Just to the east and surrounded by parkland instead of on the highway, Lindfield has similar median prices.

Bondi

For a similar median price, you’d be looking at a smaller property but be close to the beach.