Summary

<ul>
	<li data-end="192" data-start="85">
	Sydney’s property market continues to strengthen, with unit values outperforming house values in May.
	</li>
	<li data-end="312" data-start="193">
	First home buyers drive demand in western suburbs, with strong interest in new projects in Auburn and Merrylands.
	</li>
	<li data-end="439" data-start="313">
	Latent Defects Insurance (LDI) gains traction, offering 10-year structural protection across several major developments.
	</li>
	<li data-end="579" data-is-last-node="" data-start="440">
	Major launches from Tian An, Northland Group, PERIFA, and Deicorp highlight a growing pipeline of quality, well-connected apartments.
	</li>
</ul>

<hr />
The upswing in the Sydney property market continued in May, with both house and unit values increasing in the wake of recent interest rate cuts.

Unit values rose 0.5 per cent, topping the 0.4 per cent growth in house values, Cotality's Monthly Home Value Index showed.

The year-to-date performance of units in Sydney is expected to turn positive when values rise again in June. The recent gains have offset the losses recorded in the first few months of the year, before the RBA began its rate easing cycle.

The median unit value in Sydney is $859,000—around $620,000 lower than the median house value of $1.48 million.

<h2>What happened in Sydney’s off the plan apartment market in May?</h2>

Sydney's western suburbs took the limelight in the new and off-the-plan apartment space in May.

In Auburn, Tian An launched the second stage of its Auburn Square development, North Village, in a move directly targeting affordability-seeking first home buyers.

Over 25 per cent of apartments were snapped up during its recent launch, with young professionals and investors showing the most interest.

[smartcode_project:default project_id=149184 project_image_fid=324852]

First home buyers don't have to pay any stamp duty on the one- or two-bedroom apartments, which are all priced under $800,000.

The building, designed by renowned architecture firm Rothelowman, has the sought-after 10-year Latent Defects Insurance by Resilience Insurance, protecting buyers from any structural or waterproofing issues for a decade after completion.

iCIRT-rated builder Binah has already started construction on site, with completion expected by early 2027.

Read more: <a data-end="1909" data-start="1811" href="#" rel="noopener">Tian An quickly sells 25% of apartments in North Village, Auburn, following successful launch</a>

<hr data-end="1914" data-start="1911" />
Developer Northland Group also opted for the Resilience LDI policy, bringing the first development to Merrylands under the new insurance scheme.

They launched Central Quarter, comprising 194 one-, two-, and three-bedroom apartments above a new retail and commercial podium. The apartments are also first home buyer–friendly, with the one- and two-bedroom offerings priced under the NSW Government's $800,000 stamp duty concession threshold.

[smartcode_project:default project_id=5660 project_image_fid=343722]

Central Quarter is one of the most connected developments in Merrylands—and potentially in all of Western Sydney.

Located on Pitt Street, the building sits directly next to Merrylands Station (just 35 minutes by train to the CBD), the Merrylands bus interchange, and across the road from Stockland Merrylands, home to nearly 200 retailers.

Read more: <a data-end="2935" data-start="2802" href="#" rel="noopener">Northland launches Central Quarter, Merrylands' first new apartment development with Resilience 10-year Latent Defects Insurance</a>

<hr data-end="2940" data-start="2937" />
Resilience Latent Defects Insurance was also taken out by developer PERIFA for Rozelle Village, the eagerly anticipated redevelopment of the former Balmain Leagues Club in Rozelle.

PERIFA officially launched Rozelle Village in May—a mixed-use project featuring 150 apartments across three buildings, retail spaces, and a new club for the community.

[smartcode_project:default project_id=8142 project_image_fid=347019]

Designed by Studio SC, with interiors by SJB, the project brings the peninsula its first full-line supermarket and aims to re-establish the site as a local hub with hospitality and community spaces.

Read more: <a data-end="3687" data-start="3594" href="#" rel="noopener">PERIFA to create new Inner West hub as buyers get first chance to buy at Rozelle Village</a>

<hr data-end="3692" data-start="3689" />
Builder-developer Deicorp has been one of the strongest advocates for Latent Defects Insurance since it was introduced to the Australian market by Resilience Insurance in 2023.

They recently broke ground on their $1 billion Showground Pavilions project at the Hills Showground Metro Station.<img alt="Deicorp breaks ground on $1 billion Showground Pavilions in Castle Hill" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/ShowgroundPavilions_Hero.jpg?VersionId=GB3aayxxrMWw.fbuntrb1nmOtBr6JWez" />

<a href="/new-apartments/showground-pavilions-3-andalusian-way-castle-hill-nsw-2154">Showground Pavilions</a> will deliver over 1,000 apartments and mixed-use amenity across five precincts, capitalising on its status as a Transit Oriented Development (TOD) site.

Read more: <a href="/news/nsw/deicorp-breaks-ground-on-1-billion-showground-pavilions-in-castle-hill">Deicorp breaks ground on billion Showground Pavilions in Castle Hill</a>

May also marked another construction commencement for Deicorp in&nbsp;Melrose Park.&nbsp;

Their $700 million <a href="/new-apartments/melrose-central-melrose-park-33-hope-street-melrose-park-nsw-2114">Melrose Central</a> project, in collaboration with <a href="/developers/payce-consolidated-limited">PAYCE</a>, includes 500 apartments across six towers above a five-level retail and lifestyle podium.&nbsp;

[smartcode_project:default project_id=134220 project_image_fid=289879]

With Coles anchoring the 30,000 sqm retail precinct and a Parramatta Light Rail stop to come, early sales have been strong, and construction is pushing forward with completion due mid-2027.

Read more: <a href="/news/nsw/construction-underway-at-deicorp-s-melrose-central-in-melrose-park">Construction underway at Deicorp’s Melrose Central in Melrose Park</a>

There were several major planning developments in May, with a focus placed on the Lower North Shore area.

Developer&nbsp;<a href="/developers/freecity">Freecity</a> lodged a 40-level TOD tower in Crows Nest, aligned with the state’s recent planning reforms.&nbsp;

<img alt="First look: Freecity lodges Crows Nest TOD tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-05-21%20at%208.15.00%E2%80%AFAM.png?VersionId=sUKLydf_wmpBHwLPTaqnBKn836XB7cRm" />

Designed by <a href="/architects/cox-architecture">Cox Architecture</a>, the development sits above the new Crows Nest Metro and includes 178 apartments.&nbsp;

Communal terraces and a retail podium round out the vision for high-density, high-amenity urban living.

Read more: <a href="/news/nsw/first-look-freecity-lodges-crows-nest-tod-tower">First look: Freecity lodges Crows Nest TOD tower</a>

In <a href="/developments/kirribilli-nsw-2061">Kirribilli</a>, boutique developer <a href="/developers/made-property-group">MADE Property</a> is continuing its luxury push with a 19-apartment project on Carabella Street.&nbsp;

<img alt="First look: MADE Property doubles down in Kirribilli new apartment market" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Kirribili%20Made%20Property%20front.png?VersionId=_1bVmrk_o8vXK87_572g10B1rCE93Wog" />

Designed by SJB, the twin four-level buildings will blend into the leafy suburb while catering to a discerning market following the successful launch of Kirribilli Harbour.

Read more: <a href="/news/nsw/first-look-made-property-doubles-down-in-kirribilli-new-apartment-market">First look: MADE Property doubles down in Kirribilli new apartment market</a>

Further north&nbsp;in <a href="/developments/roseville-nsw-2069">Roseville</a>, <a href="/developers/hyecorp-property-group">Hyecorp</a>&nbsp;unveiled plans for a 259-apartment project across a 9,370 sqm site bordering Lord Street and&nbsp;<a href="/developments/roseville-nsw-2069" target="">Roseville</a>&nbsp;Avenue.

The nine-level building will feature&nbsp;a wellness centre with a 15-metre swimming pool and gym, a kids club, cinema space, games rooms, and a residents' lounge.

<img alt="Hyecorp plots latest Upper North Shore apartment development" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-05-13%20at%209.27.54%E2%80%AFAM.png?VersionId=WXyZqJkqHr0asSM6Q2kz.Zi.AGhcaNUl" />

<a href="/developers/hyecorp-property-group">Hyecorp</a>&nbsp;has been developing across&nbsp;<a href="/developments/sydney-nsw" target="">Sydney</a>'s North Shore region since the early 1990s. They are approaching completion of their St Leonards apartment project,&nbsp;<a href="/new-apartments/audrey-st-leonards-13-19-canberra-avenue-st-leonards">Audrey</a>, opposite Newlands Park, which will wrap up construction later this year.

Their current&nbsp;<a href="/developments/roseville-nsw-2069" target="">Roseville</a>&nbsp;development, Juliet, will comprise 37 apartments when it is completed in mid-2026.

Read more: <a href="/news/nsw/hyecorp-plots-latest-upper-north-shore-apartment-development">Hyecorp plots latest Upper North Shore apartment development</a>

Major launches from Tian An, Northland Group, PERIFA, and Deicorp highlight a growing pipeline of quality, well-connected apartments

Joel Robinson

City Beat May 2025: Resilience Latent Defects Insurance drives buyer appetite in Sydney's west

Freecity is the latest developer to join the TOD wave, unveiling plans for a 40-level mixed-use towers above Crows Nest Metro.

The tower, on a 1,320 sqm site at <a href="/new-apartments/378-398-pacific-highway-crows-nest-nsw-2065">378-398 Pacific Highway</a>, has been designed by Cox Architecture and will deliver 178 new apartments that will sit above a three-level commercial and retail podium, and eight levels of basement parking.

Cox Architecture says the good mix of apartments, 26 one-beds, 101 two-beds, and 51 three and four-bedroom units, will cater to a&nbsp;wide demographic, offering future residents a broad variety of living options.

<img alt="Crows Nest" data-entity-type="file" data-entity-uuid="ad0b1568-b3de-4a9f-aaed-98804c004b77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-05-21%20at%208.52.39%E2%80%AFAM.png?VersionId=6ecYs5YXajG5bQVIJoZy6PkziUVJZUXn" />

In line with the recently finalised Transit Oriented Development (TOD) controls, approved in November 2024, the site has been earmarked as a key location within the Crows Nest strategy. The additional height and density allowances reflect the state’s broader push to deliver higher-density housing close to transport infrastructure.

“This project is about delivering high-quality housing at a strategically located site,” Cox noted in the State Significant Development Application.

"Pacific Highway is one of Sydney's key north-south routes. It is a significant arterial road that connects multiple suburbs whilst also acting as a feature of commercial, retail, and residential activity. Our design reflects the future character envisioned for Crows Nest and aligns with TOD planning frameworks.”

A striking tower, featuring&nbsp;geometric glass-fibre reinforced cladding, will complement the robust brick base that will form the podium.

Future residents will have access to two communal outdoor terraces, on the third and 20th levels.

There were previous plans submitted, and consequently refused, in 2022, before the recent legislative changes.

Free City will no doubt hope for the same success as fellow TOD developer Third.i, who launched the first stage of Hume Place, across the road on Hume Street, to much fanfare late last year, securing over half of the sales of the apartments in a matter of months.

The first stage known as Elevate, one of three mixed-use buildings that will make up Hume Place, will have&nbsp;130 one, two, and three-bedroom apartments.

Freecity has another major project north of the Harbour Bridge. They recently acquired an office building on Walker Street in North Sydney, which they plan to convert into build-to-rent apartments and a hotel.

Free City will no doubt hope for the same success as fellow TOD developer Third.i, who launched the first stage of Hume Place to much fanfare late last year

Freecity

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