18 May What $5 Million Buys You Across Sydney

Updated: July 28th 2025

We’re revisiting one of our most popular articles: What $5 Million Buys You Across Sydney. Two years on, we’ve updated the same key suburbs across the Lower North Shore and Eastern Suburbs to see how the market has moved and what kind of properties are now selling around $5 million in 2025. Whether you’re tracking price trends or planning your next purchase, these recent sales offer a valuable snapshot of value and lifestyle across some of Sydney’s most sought-after postcodes.

Lower North Shore

Mosman

Mosman’s current median house price is $5.92 million. In 2025, only two recorded sales fell between $4.8 million and $5 million. Both properties shared similar attributes that impacted their valuation: smaller land sizes and locations on busy streets. This suggests that in Mosman, properties trading below the median typically involve trade-offs —such as reduced land size, less desirable positioning, or the need for major renovations. Based on recent sales data, buyers at the $5 million price point are generally either acquiring freestanding homes with one or more of these factors or semi-detached homes in a premium street.

Northbridge

Northbridge continues to appeal to families seeking space, greenery, and proximity to the CBD. The median house price in Northbridge has risen to $4.93 million as of 2025, marking a 4.4% increase over the past two years. While the suburb offers a mix of architectural styles—from original homes to contemporary rebuilds—waterfront properties and homes with Middle Harbour views remain tightly held and command significant premiums.

In 2025, four properties have sold between $4.8 million and $5 million, compared to just two in 2023. Buyer competition has intensified, particularly for well-located homes on larger blocks. For $5 million in the current market, buyers are typically securing three- to four-bedroom family homes on average-sized land parcels, but without water views and in need of renovation.

Currently, there is one listing priced between $4.5 million and $5 million, reinforcing the suburb’s limited stock and strong demand. With very few units in Northbridge, this price bracket is firmly reserved for houses, and prospective buyers should be prepared to act quickly in a competitive environment.

Cammeray

Cammeray remains one of those tightly held Lower North Shore suburbs where buyer demand consistently outstrips supply, especially for freestanding homes. In 2025, two homes have sold around the $5 million mark—both family residences on blocks of around 413m² and 448m².

Above $5 million, five homes have sold, and these were typically on premium streets with extensive renovations, water views, or deep waterfront positions. Right now, there aren’t any homes listed between $4.5 million and $5 million, which really shows how little stock turns over at this price point.

Here’s the thing about Cammeray—only 24.9% of all dwellings are freestanding houses, which makes competition fierce. So far this year, 69 properties have sold below $5 million, but of these, 50 were units, 8 were semi-detached, and just 11 were freestanding homes.

With a $5 million budget, buyers can expect a freestanding family home, though usually with some trade-offs. This might mean a smaller block, no off-street parking, a busy street location, or needing renovation work. What keeps drawing people to Cammeray is its proximity to the city, leafy streets, and genuine community feel—all of which continue to drive strong interest despite the limited supply of detached homes.

Kirribilli

Kirribilli is one of Sydney’s most exclusive harbourside suburbs, defined by its prestige location, historic architecture, and spectacular views. With a population of just 3,629 residents, it offers a tightly held and highly competitive property market. Housing stock is limited: only 5.6% of dwellings are freestanding homes (just 105 properties), while a further 128 are terraces or attached houses. The vast majority of properties in the suburb are apartments.

In 2025, no houses or units have transacted around the $5 million mark. However, two attached homes sold below this threshold—one a two-bedroom property, and the other a terrace with approximately 156m² of internal space and no parking.

For buyers with a $5 million budget, the most likely opportunities in Kirribilli are older-style apartments with charm and harbour views, or compact terraces.

Cremorne & Cremorne Point

Cremorne is a substantial Lower North Shore suburb with around 11,260 residents, and it’s very much apartment territory—about 71.4% of dwellings are units, with just 17.1% freestanding homes and around 11.2% terraces or semi-detached properties.

Four properties have sold this year around the $5 million mark, and there’s currently one home listed in this range. In Cremorne, especially north of Military Road, you can find freestanding homes, though they’re tightly held. The median house price sits at $3.72 million, down 9.8% from the previous 12 months.

Cremorne Point is a different story altogether—this compact harbour peninsula has around 2,270 residents, with a whopping 79.9% of properties as units or apartments, just 8% as standalone houses, and the rest as terraces or semis.

So far in 2025, two homes have sold around the $5 million price point, with a median house price of approximately $5.49 million. With so few houses available (just 8% of all dwellings), those selling above $5 million tend to be heritage residences, often with sweeping harbour views. For buyers with a $5 million budget in Cremorne Point, you’re typically looking at premium apartments with views rather than houses.

Eastern Suburbs

Vaucluse

Vaucluse remains one of Sydney’s most prestigious and tightly held Eastern Suburbs postcodes, with that elevated coastal position delivering expansive harbour and ocean views. Since our original article in 2023, the median house price has jumped from $8.6 million to $9.45 million—a solid 12.5% increase over two years.

In 2025, only one property has sold around the $5 million mark, and it was a duplex (which we’ve featured below). With Vaucluse’s high-value housing stock and very few lower-priced freestanding homes, opportunities in this price bracket are genuinely rare.

For buyers with a $5 million budget, Vaucluse typically offers either a premium apartment or an attached home on a more compact block. Freestanding houses at this price point are virtually nonexistent—most sell well above this level. When houses do occasionally appear around $5 million in Vaucluse, there’s usually some trade-off involved, whether that’s space, views, or land size.

Paddington

Paddington continues to attract strong buyer demand thanks to its heritage terraces, vibrant village atmosphere, and proximity to the CBD. Since 2023, the suburb has seen notable growth, with the median house price increasing by 13.9% over the past three years.

In 2023, just five homes sold between $4.5 million and $5 million, but in 2025, that number has more than doubled to 12 properties. These recent sales have predominantly been three-bedroom terrace houses, often with two bathrooms and either one or no parking spaces.

For buyers with a $5 million budget in Paddington today, the typical offering is a terrace home, often renovated, but with limitations on land size and parking. Non-attached homes remain rare, with only 6% of dwellings in this suburb being free-standing, and buyers prioritising space or off-street parking will need to act quickly when quality stock becomes available.

Double Bay

Double Bay continues to cement its reputation as the place where luxury living meets world-class retail and dining. Since we last looked at the suburb, the median house price has jumped by 24.6% and now sits at $7.17 million in 2025.

So far this year, four properties have sold around the $5 million mark—three apartments and one townhouse. At this price point, you’re typically looking at an apartment (potentially with harbour views) or a residence close to the village heart.

Right now, there are four properties on the market within the $5 million range: three apartments and one small freestanding home on a battleaxe block. Freestanding homes at this price are rare and usually come with trade-offs on land size, access, or privacy.

For buyers who prioritise lifestyle, location, and low-maintenance living, Double Bay delivers solid value through apartments and boutique townhouses—many just a short walk from the shops, ferry, and beach.

Bellevue Hill

Bellevue Hill remains one of Sydney’s most prestigious residential suburbs, known for its elevated outlooks and proximity to top-tier schools and beaches. The median house price has climbed to $10.73 million in 2025, reflecting an impressive 37.1% growth over the past three years.

At the $5 million price point, freestanding homes are well out of reach, with most sales in this range limited to apartments and attached dwellings. So far in 2025, four properties have transacted in this bracket—three apartments and one semi-detached home.

In this price range, buyers can expect a spacious apartment, potentially with three bedrooms, modern finishes or heritage charm, and in some cases, harbour or district views. Options include boutique new builds as well as character-filled Art Deco residences. While Bellevue Hill’s freestanding homes are firmly in the $10M+ category, the suburb still offers lifestyle appeal and premium living through its apartment market at the $5 million level.

Rose Bay

Rose Bay offers that perfect blend of harbourside living and eastern beaches lifestyle, with strong demand for both houses and apartments. The median house price now sits at $6.4 million, up 9.3% over the past three years.

In 2025, two properties have sold around the $5 million mark—a terrace on a 321m² block and a three-bedroom apartment. Over the past 12 months, just six properties have sold between $4.5 million and $5 million. Most were apartments, though a few were freestanding homes on smaller blocks that needed full renovation or complete knockdown and rebuild.

For buyers with a $5 million budget, Rose Bay offers quality apartments, semi-detached homes, or older freestanding properties that usually come with significant trade-offs—whether that’s a busy street location, limited land size, or structural issues.

While freestanding homes in this price range are becoming increasingly rare, Rose Bay remains a strong option for buyers wanting proximity to beaches, transport, and top schools at a more accessible eastern suburbs price point.

May 18th 2023

We look into key suburbs on Sydney’s Lower North Shore and Eastern Suburbs and share properties that have sold around $5m in the last 12 months (as of May 18, 2023).

Lower North Shore

Mosman

Mosman is one of the most affluent suburbs in the Lower North Shore. Interestingly, the median house sale price has dropped by 12.1% in the 12 months to $4.80m. Based on sales in 2023, ~$5m buys you a renovated semi-detached home in a premium location or a freestanding home requiring renovation not on Balmoral Slopes.

In May there is currently 5 homes for sale in this price range and one unit.

Northbridge

Northbridge is known for its beautiful open plan family homes and leafy surrounds and has had two homes sell around the $5m mark in 2023. The median sale price for homes in the last 12 months in this suburb is $4.61m. In Northbridge you can generally expect to get a lovely 3+ bedroom renovated family home on a larger block for your $5m – provided that is that it’s away from the waterfront. There is a mixture of renovation styles in this suburb with newer builds taking on a more contemporary feel.

Currently, there are five properties within the $4.5m to $5m listed for sale. There are very few units in Northbridge and you would not expect to find any within this price bracket.

Cammeray

Cammeray has a variety of property styles and continues to be a popular choice for those wanting a lifestyle and easy accessibility to Sydney CBD. The medium house price for Cammeray is $3.35m. There have only been two sales within the last 12 months within the $4.6-$5.2 price range.

Houses within this price point have been either renovated with water glimpses or unrenovated with water views. You could expect to have 4 bedrooms at this price point within this suburb. Currently, there are no properties for sale in this price bracket.

Kirribilli

There is a lot to love about Kirribilli from its convenient location, stunning harbour views and village like appeal. The majority of properties in Kirribilli are apartments accounting for 87% of all residences. Given this, there are few homes sold in the $5m price bracket and you can expect these homes to be on the smaller side.

In Kirribilli, within this range, you will be able to buy a nice 2 -3 bedroom apartment with water views.

Cremorne

Cremorne is a beautiful suburb that crosses over Military Road and meanders to waterfronts on both sides. In 2023 you can expect to buy a medium-sized family home for your $5m. North Cremorne has a median house price of $3.79m while Cremorne Point has a medium home sale price of $5.16m. You tend to get more for your $5m therefore on the Northern side as opposed to Cremorne Point due to its harbour front appeal.

Eastern Suburbs

Vaucluse

Vaucluse is one of the most affluent suburbs in the Eastern Suburbs. Known for its beautiful mansions and heritage homes, spectacular coastal walks and harbour beaches the median home sale price for the suburb is $8.6m. Stock continues to be tight in this suburb with total listings down -38%. Three properties have sold this year around the $5m price point. These properties have all been built on blocks that have been subdivided. You could expect that properties with a view or outlook will be unrenovated at this price.

Paddington

Paddington is famous for its terraces. In fact of the 5 homes sold last year at this price point 4 were terraces. It is no surprise given that terraces make up 66% of all residences in this suburb. You will find as a result the block size is small as is the case with these homes with the largest block being just 209m2. When it comes to free-standing homes there is less than 7% in Paddington.

Double Bay

Double Bay has undergone a resurgence in demand due to the influx of restaurants and new high-end property apartments rejuvenating the area. There have only been 5 residential sales at this price point in the last 12 months. Four of these were apartments or semi-detached with only one freestanding home. If you buying a free-standing home at this price point in Double Bay you could expect that the property size is on a smaller scale or closer to a busy road. The median sale price of homes has dropped by -17% to $5.30m over the last 12 months and stock levels for homes are down by 20%.

Bellevue Hill

Bellevue Hill is another prestigious suburb with estate homes and spectacular harbour views. You can expect a free-standing home within this price point to be closer to Old South Head Road or further away from the harbour front. The larger the block and home footprint in this price bracket the more renovation will likely be required. Of the four properties sold in the last 12 months, 1 was freestanding and closer to busy roads and three were apartments or semi-detached homes. The smaller apartment was renovated and the larger required renovation. With a budget of $5m, you could get closer to the waterfront with an unrenovated apartment. There are fewer than 2 properties on the market at the moment in Bellevue Hill at this price level.

Rose Bay

Rose Bay has a lovely relaxed village feel with spectacular water views where you can enjoy watching the yachts go by and seaplanes land. This suburb had 7 properties sell within the $5m price range within the last 12 months. Four of these properties were freestanding and 3 were apartments. More than 68% of residences in this suburb are apartments. The median sale price for homes over the last 12 months is sitting at $5.67m in this suburb. As with Double Bay the closer the free-standing property is to the waterfront the more likely the property will require renovation within this budget. There is just one free-standing home on the market at the moment within this price point.

We specialise in finding the right property for the right price. So no matter what your budget is we can help you with your property journey. Please contact us for more information about how we can further assist you with your property search. We have seen a range of off market properties which may suit your requirements.