Overview
Comparable sales, or comps, are recent sales of similar homes, and they are the foundation of any credible asking price. In NSW the law requires an agent's estimated selling price to be reasonable, based on recent comparable sales, location, property features and current market conditions, and backed by evidence [1]. Prestige markets make that harder. Hunters Hill recorded 103 house sales in the 12 months to June 2026 at a median of $4,650,000 [2], and median prices range from about $3.1 million for a three bedroom house to $6.55 million for five bedrooms [3]. Tennyson Point recorded only about 14 house sales [4]. With so few true matches, the right comparisons are the sales that best show how buyers value land, position, water access, architecture and condition, read alongside today's softer market, where Sydney values fell 1.4% in September [5] and the cash rate sits at 4.60% [6].
- Hunters Hill houses: $4,650,000 median, up 1.09% over 12 months to June 2026 [2]
- Sales volume: 103 house sales in a year, averaging 41 days on market [2]
- Price spread: about $3.1 million for three bedrooms, $4 million for four and $6.55 million for five [3]
- Tennyson Point: about 14 house sales in the past 12 months [4]
- NSW law: price estimates must be based on comparable sales and evidence, and a quoted range can be no wider than 10% [1]
- Market now: Sydney values fell 1.4% in September and the cash rate is 4.60% [5][6]
The best comparable is not the nearest or the most recent sale. It is the one that shows how buyers value what your home offers.
Hunters Hill house prices by bedrooms
| Houses | Median price | Average days on market | Sales in past 12 months |
|---|---|---|---|
| Three bedrooms | About $3.1 million | Not reported | 22 |
| Four bedrooms | About $4 million | 38 | 37 |
| Five bedrooms | About $6.55 million | 30 | 42 |
| All houses | $4,650,000 | 41 | 103 |
Bedroom figures are Domain medians from the past 12 months [3]; the all houses figures are Cotality data to June 2026 via Your Investment Property [2]. Sources measure different periods, so figures do not reconcile exactly. See Sources.
What are comparable sales?
Comparable sales are recently sold properties with characteristics similar to the home being priced. Agents use them to show what buyers have actually paid for similar homes, and NSW law requires price estimates to be based on them [1].
For a prestige home, comparing bedrooms and bathrooms is not enough. Two Hunters Hill homes on similar blocks can sell for very different prices because of position, orientation, architectural quality or distance to the water. A meaningful comparison looks beyond the headline sale price.
You can see the principle in action across Jack's recent sales on the peninsula, where each result reflects a specific mix of land, position and condition.
What do NSW rules say about pricing a property?
Your agent must put an estimated selling price in the agency agreement and support it with evidence [1]. The estimate must be reasonable and based on recent comparable sales, location, features and market conditions [1].
- Ranges: if the estimate is a range, the top can be no more than 10% above the bottom, so $5 million to $5.5 million is allowed but $5 million to $6 million is not [1]
- Updates: if conditions change, the agent must tell you in writing, provide new evidence and amend the agreement [1]
- Advertising: terms such as "offers over" or a price with a plus sign are banned [1]
- Competing estimates: every agent must back their figure with evidence, and a much higher estimate may not be reasonable [1]
That last point matters for sellers interviewing agents. The highest appraisal is not automatically the most accurate one, and you are entitled to see the comparable sales behind it.
Why do prestige properties need a different approach to pricing?
Because they are rarely alike. In Hunters Hill, historic sandstone residences, contemporary architectural homes and substantial family estates each attract different buyers. The features that drive value include:
- Land size and usability: a large, level block appeals differently from a steep block of similar size
- Position: street appeal, privacy, access and proximity to the water all shift buyer demand
- Architectural character: heritage features, distinctive design and craftsmanship can carry a premium
- Condition: renovation quality, floor plan and maintenance needs affect what buyers will pay
- Market activity: the level of competition and the number of similar homes for sale shape the result
A good appraisal explains how each comparable sale differs from your home on these points, and adjusts for them.
Why isn't the most recent sale always the best comparison?
Because a single result can reflect unusual circumstances. A record sale may have involved two determined bidders, a rare offering or features that are hard to replicate. A low result may reflect condition, position or the circumstances of the sale.
In a thin market the problem is sharper. Tennyson Point saw only about 14 house sales in a year [4], and five bedroom houses in Hunters Hill had a median of about $6.55 million from 42 sales [3]. The most useful comparables are not necessarily the closest or the newest. They are the sales that best show how buyers value the specific mix of land, position and accommodation your home offers.
How does current buyer demand affect prestige pricing?
Comparable sales show the past, while buyer demand sets the price today. A result achieved six months ago may not be repeatable if conditions have shifted.
They have. Sydney values fell 1.4% in September [5], the cash rate rose to 4.60% after four increases in 2026 [6], and homes across the capitals are taking longer to sell [5]. Hunters Hill houses are averaging 41 days on market [2]. Prestige buyers are often less reliant on borrowing, but confidence, competing listings and the number of qualified buyers still move the price.
What are the risks of overpricing a prestige home?
Overpricing usually costs more than it gains. An asking price above what the evidence supports can deter qualified buyers from inspecting, reduce competition and extend the time on market.
A long campaign invites buyers to ask why the home has not sold, which can weaken your negotiating position. A well supported price, by contrast, draws serious buyers early and builds competitive tension. The goal is not the highest asking price, but the strategy most likely to achieve the best result.
Can a property appraisal differ from a bank valuation?
Yes. An agent's appraisal estimates the likely selling price in the current market, using comparable sales and buyer demand [1]. A bank valuation is prepared by an independent valuer for the lender, to assess the property as security for a loan, and is often more conservative.
For prestige homes the gap can be wider, because unique features are harder for a valuer to benchmark. Buyers should allow for this when arranging finance.
How should you use comparable sales to price your home?
- Ask for the evidence. Request the comparable sales behind every appraisal you receive, as NSW law requires agents to provide them [1]
- Check how each sale compares. Look at land, position, water access, architecture and condition, not just bedrooms
- Weigh recent market conditions. Adjust older sales for changes in demand, interest rates and listings since they sold [5][6]
- Look at the depth of buyers. Ask how many qualified buyers are searching for your type of home right now
- Set a strategy, not just a number. Agree on a price and campaign that reflect your home's strengths and your own goals
Ready to put that into practice? Request a written appraisal built on the comparable sales behind your number.
Jack Tinworth's view
In Hunters Hill and Tennyson Point, no two prestige homes are the same, so pricing is as much about judgement as data. I look at why one home achieved a premium and why another drew less competition, then test that against the buyers who are active right now. With values softening and rates higher, sellers who price on evidence rather than on the best result in the street are achieving the strongest outcomes.
The best comparable is not the nearest or the most recent sale. It is the one that shows how buyers value what your home offers.
Jack Tinworth is an agent with TRG Hunters Hill, part of The Rubinstein Group, working with homeowners across Hunters Hill, Tennyson Point, Woolwich, Huntleys Point and surrounding suburbs. He provides appraisals grounded in comparable sales and current buyer demand. Contact Jack Tinworth at TRG to discuss your home's value and a tailored selling strategy.
About the author
Jack Tinworth is an agent with TRG Hunters Hill, part of The Rubinstein Group, working with homeowners across Hunters Hill, Tennyson Point, Woolwich, Huntleys Point and surrounding suburbs. He provides appraisals grounded in comparable sales and current buyer demand. Thinking of selling your prestige property? Contact Jack Tinworth at TRG to discuss your home's value and a tailored selling strategy.
Sources
- NSW Government — Price estimation and underquoting when selling a property
- Your Investment Property — Hunters Hill, NSW 2110 suburb profile (Cotality data, sales to June 2026)
- Domain — Hunters Hill NSW 2110 suburb profile (sales in the past 12 months)
- Domain — Tennyson Point NSW 2111 suburb profile (sales in the past 12 months)
- ABC News — Australian house prices drop for sixth straight month and more falls expected (Cotality Home Value Index, 1 October 2026)
- Reserve Bank of Australia — Statement by the Monetary Policy Board: Monetary Policy Decision (29 September 2026)
All sources accessed 19 October 2026. Median prices are drawn from different providers and periods and are a guide only; individual property values depend on comparable sales and inspection. This article is general information only and is not financial, legal or valuation advice.