Newfound Positivity for Sydney Real Restate Market

September and October were pivotal in Sydney owners and Metro Realty.

Numbers just in from CoreLogic show Sydney property values trended upwards for the month, the first increase since they started falling consistently from April 2020.

While buyers are still proceeding with sensible caution, we have felt that a level of confidence has been restored, and the property sales that took place back up the feeling.

We are seeing more buyer confidence to make offers and move ahead should the offer be accepted.

Sold in Sydney 2000 August – October 2020

 

Address (Bed,Bath,Car Park) – Price Achieved

2907/101 Bathurst Street Sydney (1,1,1) – $1,200,000

This is a fantastic example of a well-achieved price for a one-bedroom apartment. Lumiere is considered a luxury building and attracts high-value investors. This particular apartment’s views are semi-obstructed; however, the sale result is nothing short of premium.

3402/68-70 Market Street Sydney (3,2,2) – $2,700,000

Building Grade: A

Walk Score: 49

Transit Score: 100

Here is another premium price achieved within a premium building. Unit 3402 is a sub-penthouse three-bedroom apartment within ‘The Tower’ building. 

132/365 Kent St Sydney (2,2,1) – $945,000

Walk Score: 37

Transit Score: 100

Apartment size: 105sqm

Unit 132 is an immaculately presented apartment with partial harbour views. It is located on a quieter end of Kent Street, positioning it ideal for owner-occupiers. 

Link to full case study

41/181 Clarence Street Sydney (2,2,1) – $1,460,000

Building Grade: Heritage

Walk Score: 99

Transit Score: 100

Apartment size: 90sqm

This apartment is within a tightly held boutique block, ‘Broughton House.’

702/21 Alberta Street, Sydney (2,1,0) – $930,000

Building Grade: B-

Walk Score: 48

Transit Score: 100

Apartment size: 76sqm

This apartment achieved a great price, given that it only had one bathroom and no car space. This apartment’s positive appeal was its exposed concrete & warehouse-style windows, giving it a relaxed urban pad feel.

21A/171 Gloucester Street, Sydney (3,3,2) – $5,150,000

Building Grade: A

Walk Score: 32

Transit Score: 100

Apartment size: 194 sqm

Unit 21A is a spectacular property with grand proportions and world class Harbour views. It’s nestled within one of The Rock’s finest prestige buildings.

3321/65 Tumbalong Boulevard, Sydney (1,1,0) – 800,000

Building Grade: A-

Walk Score: 40

Transit Score:100

Apartment size: 52sqm

The sale of 3321 Darling One is a great result given that the apartment has no car space. The apartment had a great advantage for total views of South CBD and clean interior design.

101/361 Kent Street, Sydney (1,1,0) – $550,000

Building Grade: C

Walk Score: 47

Transit Score: 100

This is a fair result for a one-bedroom apartment in the Trafalgar Building. The building used to be a serviced apartment but has been recently converted to a regular residential building.

1410/38-42 Bridge Street, Sydney (2,2,1) – $1,300,000

Building Grade: Heritage

Walk Score: 96

Transit Score: 100

This is an example of a very fair price achieved for a two-bedroom apartment in Northern CBD. 

The second bedroom was small (3.2m x 3.5m); however, the apartment had a rare car space, rare in Northern CBD, and spectacular views of the Harbour Bridge.

236/298 Sussex Street, Sydney (1,1,0) – $675,000

Building Grade: C

Walk Score: 48

Transit Score: 100

Apartment size:57sqm

This was a very fair price achieved for this one-bedroom apartment in Maestri Towers. One bedroom in the CBD usually makes an excellent investment option, provided that strata fees are feasible.

701/185 Macquarie Street, Sydney (4,3,2) – $3,700,000

Walk Score: 41

Transit Score: 100

Apartment size:172sqm

701/185 Macquarie Street is a split level prestigious apartment with four genuine bedrooms, which is extremely rare in Sydney CBD.

11/44 Bridge Street, Sydney (3,1,0) – $975,000

Building grade: Art Deco

Walk Score: 96

Transit Score: 100

The building has old world charm with its classic windows and entries. This apartment is an interesting case study as it could be used as an office or an apartment. 

If used as an apartment, the bedrooms would be considered very small, each room hovering around 2.5m x 3.

807/187 Kent Street, Sydney (1,1,0) – $1,080,000

Building Grade: A

Walk Score: 31

Transit Score: 100

Apartment size: 55sqm

Excellent price for a one-bedroom apartment in a prestigious building in ‘The Grand’ residences.

170/365 Kent St Sydney  (2,2,1) – $1,060,000

Walk Score: 47

Transit Score: 100

Apartment size: 85sqm

Link to full case study and video

82/110 Sussex St, Sydney (1,1,1) – $920,000

Walk Score: 99

Transit Score: 100

82/110 Sussex St is surprisingly an excellent result for a one-bedroom on Sussex Street. The unit has decent sized bedrooms with unobstructed views of King Street wharf, which would have been the main selling points.

303/31 Barangaroo Avenue, Sydney (1,1,0) – $1,730,000

Building Grade: Luxury

Walk Score: 93

Transit Score: 100

Apartment size: 70sqm

We can only say wow for the sale of 303/31 Barangaroo Avenue, Sydney. 

Here is another example of how robust the real estate market has been in Sydney CBD this spring. 

In conclusion, since rebooting, Sydney has been very busy with buyers returning to the market. Market values have changed quite a bit; however, still relatively fair. If you want to know your property’s NEW sales value, fill out the below form, and I’ll prepare a full property price report for you.

What is Walk Score? 

Walk Score, in a nutshell, is a measure of the walkability of a location to nearby amenities, a scale from 0 to 100.

Walk Score also measures pedestrian friendliness of the route and scores based on that. 

What is the Transit score?

Transit Score is a measure of how well a location is served by public transit on a scale from 0 to 100

For more information, please refer to Walk Score.

Source for list of properties and images: realestate.com.au

AUTHOR

Joseph Fairchild If you want to know the NEW value of your property

please get in touch with

Joseph Fairchild at 0425 945 888 or

[email protected]

Sydney Spring Rental Market Update
2020 End of Year Summary

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