The Mosman Residences, an upcoming residential development, was launched in December last year and construction is due to begin later this year.

The development is located at 22 Clifford Street and includes a mix of one, two and three bedroom flats.

Prices vary depending on the size of the residence; $1,350,000 for a one bedroom, $2,050,000 for a two bedroom and $3,750,000 for a three bedroom.

The development will include a total of 28 flats at the corner of Clifford St and Spit Rd.

PropTrack puts the median price of a unit in Mosman at $1.28 million, up 2.2% in the past year.

The project has secured approximately $50 million in pre-sales.

TQM has been appointed to build the project, in partnership with PBD Architects and developer Abadeen, and is listed through CBRE.

In a statement to the Daily Telegraph, the developer said there was a real thought process behind the design of the project.

"The site is successful because of the access to Mosman Village and the ideal location for Sydneysiders who want to live there.

"The flats are amenity-driven with large balconies, parking, storage and communal roofs, close to shops and the Mosman lifestyle on your doorstep.

"It's a very exclusive suburb and there are a lot of people who want to move in and can't find anything."

"There has been a lot of interest in Mosman over the last few months as our homebuyers are now buying Mosman Residences and are very excited about being part of the Abadeen family."

In addition to the flats, the developer says buyers will be able to take advantage of the area's shops, restaurants and harbour village setting.

Other features of the residences include dual views, private garden courtyards, marble finishes and fireplaces.

According to the latest PropTrack House Price Index, national house prices continued to stabilise in April, rising by 0.14 per cent after rising for the fourth consecutive month.

The cumulative increase for 2023 now stands at 0.75 per cent. Strong migration, a tight rental market and limited supply are offsetting the impact of rapid interest rate rises