Sydney property values reach record high
Following a minor dip due to the COVID-19 pandemic, Sydney property values have now recovered to surpass their 2017 peak, according to property date firm CoreLogic.
Tim Lawless, CoreLogic’s executive research director, says he’s not surprised that the recent strong capital gains in housing values have led another capital city to move to new record highs.
“The recovery trend in Sydney following the -15.3% decline from July 2017 to May 2019 was interrupted by COVID-19, with housing values falling by -3.0% through the worst of the pandemic.
“Since housing values found a floor in October last year, Sydney home values have risen 5.7% to reach a new record high today.
"The fresh record high is great news for Sydney home owners, but highlights the challenges for non-home owners looking to participate in the housing market as values rise faster than incomes,” Lawless says.
According to CoreLogic’s daily hedonic home value index, Melbourne dwelling values remain -1.3% below their pre-COVID high and Perth values are still -16.9% lower relative to their 2014 peak.
Projects in Sydney
Auburn Square, Auburn
Address: 26-36 Northumberland Road, Auburn NSW 2144
Two-bedroom apartments from $600,000
Developed by Tian An LFD, Auburn Square boasts the ultimate liveability in the heart of western Sydney.
Designed by Rothelowman, the development’s design provides perfectly considered spaces to deliver a sense of community, with facilities including an expansive rooftop, communal dining areas, outdoor fitness equipment, and impressive cityscape views.
Auburn Square is one of the few Sydney developments eligible for the HomeBuilder Grant extension, potentially saving $15,000 for first home buyers.
Castle Residences, Sydney
Address: 203 Castlereagh Street, Sydney NSW 2000
One-bedroom apartments from $1.23 million
Castle Residences is one of Sydney's most anticipated projects to be completed in 2021.
The luxury $380 million is being developed by United Development Sydney, which operates under the umbrella of Shanghai Lian Yao Investment Co, a $19 billion company established as a joint venture by 10 Chinese real estate groups.
The project, currently under construction by Hutchinson Builders and nearing its topping out stage, will have 131 apartments, a mix of studio, one, two and three bedroom units across 36 levels.
Joel Robinson
Joel Robinson is the Editor in Chief at Apartments.com.au, where he leads the editorial team and oversees the country’s most comprehensive news coverage dedicated to the off the plan property market. With more than a decade of experience in residential real estate journalism, Joel brings deep insight into Australia’s evolving development landscape.
He holds a degree in Business Management with a major in Journalism from Leeds Beckett University in the UK, and has developed a particular expertise in off the plan apartment space. Joel’s editorial lens spans the full lifecycle of a project—from site acquisition and planning approvals through to new launches, construction completions, and final sell-out—delivering trusted, buyer-focused content that supports informed decision-making across the property journey
