With a median sales price in excess of $3 million, the sleepy suburb of Duffys Forest has been named the most expensive suburb on the northern beaches in Sydney.
It ranks seventh in the list of most exclusive Australian suburbs, beating both Palm Beach and Clontarf with sale prices of $2.4 million and $2.36 respectively.
Duffys Foreset now joins ranks with some of Sydney’s other luxury suburbs including Potts Point (median of $3.1 million) and Vaucluse (median of $3.4 million).
According to News Limited, there have been usually less than 10 sales recorded in the record breaking suburb each year.
It was CoreLogic RP Data who discovered Duffys Forest potential as a result of sales that were made from November 2013 to November 2014 resulting in its current exorbitant median sales price.
Sydney Country’s Living, Shayne Hutton, said it makes sense that the suburb would have such a high median price due to a lack of residential presence.
“It is an acreage suburb with no houses and no apartments,” Mr Hutton said.
Property prices are expected to rise with the nearby suburb of Ingleside, which is due to allow residential development in the next five to 10 years.