City Beat July 2025: Sydney’s apartment upswing gathers pace as Sydney's biggest developers make major moves

Sydney’s residential market continued its gentle climb in July, with dwelling values up 0.6 per cent over the month and 1.8 per cent across the rolling quarter.

The affordability gap between units and houses is continuing to wide. Units values grew by 0.2 per cent over July, whereas houses jumped by 0.8 per cent, Cotality's Home Value Index found.

Units in the harbour capital are now up 1.3 per cent over the quarter, compared to 1.9 per cent for houses.

Sydney median unit value is $868,000, some $662,000 less than the $1.53 million house median.

Sydney’s relative strength echoes broader capital city resilience, with combined capital values also up 0.6 per cent for the month and 1.8 per cent over the quarter. The gains are underpinned by interest rate cuts earlier in the year, tight listings, and steadily improving buyer confidence.

What happened in Sydney’s off the plan apartment market in July?

There were some major moves in the Sydney off the plan apartment market, from Sydney's biggest developers.

Lendlease formalised a new joint venture with Mitsubishi Estate Asia and Nippon Steel Kowa Real Estate to develop a $2.5 billion luxury project at 175 Liverpool Street.

Located on the southern edge of Hyde Park, the dual-tower development will deliver up to 300 high-end residences with north-facing views toward the Opera House and Harbour, alongside 2,000 sqm of retail and commercial space.

Construction is targeted to begin in 2027, pending approvals.

Read more: Lendlease announces partners for its $2.5 billion luxury development on Hyde Park

On the Lower North Shore, Traders In Purple and joint venture partner Sydney Anglican Property were granted planning approval for the renewal of St Andrew’s Anglican Church in Lane Cove.

The development will offer 48 two and three-bedroom apartments, many of which will enjoy dual aspect, enhancing outlooks and cross-flow ventilation.

The existing parish church, built in 1924, will be retained and sensitively adapted into a meeting place and portal to the new contemporary auditorium and ministry spaces, linking old and new.

Traders In Purple CEO Brett Robinson said redevelopment of the site had been enthusiastically supported by many members of the local community.

“There is a demand for high-quality, well-designed, premium apartments for locals wanting to downsize in their neighbourhood and those wanting to raise their family in a highly desirable suburb without the burden of a high-maintenance house and yard.

“It was very clear to us that the local community is also in need of a larger performance space, and we look forward to providing the community with a fantastic new venue that will support the cultural richness of Lane Cove.”

Read more: Traders in Purple and Sydney Anglican Property greenlit for Lane Cove project

Over in the eastern suburbs, TOGA reached a significant milestone at The Kensington, with the development officially topping out.

The Anzac Parade building is being delivered by Gold Star iCIRT-rated builder DASCO, who can start to turn their attention toward the exterior of the building, and the fitout of the 142 one, two, and three-bedroom apartments strategically located opposite the Kensington Light Rail stop.

The Kensington forms part of a broader revitalisation effort along the light rail corridor in Sydney’s inner south.

Residents will move in midway through 2026.

Read more: TOGA tops out The Kensington, reshaping Anzac Parade light rail corridor

Sekisui House Australia released the latest stage of their Melrose Park urban renewal precinct.

Sekisui House Australia, in partnership with Hankyu Hanshin Properties, has opened expressions of interest for Aeris, the sixth and most elevated stage in the $5 billion Melrose Park master planned community in Sydney’s north-west.

Aeris will comprise 468 apartments across two tall 20 and 24-storey slender towers. Prices start from $649,000 up to $1.55 million, with internal sizes ranging from 50 to 130 sqm.

As sustainability credentials become more central to buyer expectations, Melrose Park continues to model future-facing urban design.

Construction of Aeris is anticipated to commence in late 2025, with the first lower tower due for completion in Q4 2027 and the second and third towers expected in 2028.

Read more: Sekisui House Australia reveals Aeris, Melrose Park’s latest stage

In Crows Nest, Deicorp broke ground on Falcon & Alexander, offering around 100 apartments near the new Metro station.

Conceived by award-winning architects TURNER, Falcon & Alexander will create a vibrant vertical village in the heart of one of Sydney’s most connected neighbourhoods. Thoughtfully arranged around a central atrium and lush communal gardens, residences will enjoy panoramic views over Sydney Harbour and the Lower North Shore, with interiors designed for modern, light-filled living.

Residents will benefit from premium amenities, including a resident-only skygarden, and boutique retail and dining spaces on the ground floor, all integrated with the local urban fabric.

With proximity to transport and established retail precincts, the development is well-positioned to capture demand from downsizers and city professionals alike.

Read more: Deicorp breaks ground at Falcon & Alexander, Crows Nest apartments

In the upper north, Capital Corporation advanced The Residences at Wahroonga Estate masterplan by appointing DASCO to build the first stage. This is the first partnership between Capital Corporation and DASCO, bringing together two award-winning property powerhouses in what promises to be a defining project for the region.

The move followed over $90 million in early sales, highlighting appetite for prestige residential offerings in leafy, well-connected locales.

Construction on the first 128 residences will commence in the coming months, with completion targeted for late 2027.

Read more: Capital Corporation appoints DASCO to build the first stage at The Residences at Wahroonga Estate after $90m in sales