They’re the Sydney suburbs where an apartment costs more than the typical Sydney house – but property-buyers wouldn’t have it any other way. “Many people don’t want to buy houses,” said Adrian Wilson, principal of Sydney’s first apartment specialist agency, Ayre Real Estate. “They prefer apartments and, for them, living close to amenity and convenience is where the value lies, rather than in land.
“They want the views that apartments in the top areas often have and they want to be able to lock up and travel, without the house maintenance and a garden and pool to look after. I think Sydney’s love affair with apartment living started in the last decade, hit a few bumps during COVID-19, and is now back in full bloom.” Five Sydney suburbs now have a median apartment price that’s higher than Sydney’s overall median house price.
Barangaroo tops the list with suburb’s median unit price of $5,225,000 more than three times more expensive than the city’s median house price of $1.63 million. Wilson’s firm, for instance, is selling on Saturday a two-bedroom-plus study on the 56th floor of One Sydney Harbour in Barangaroo South for $6.
1 million. An ‘entry level’ apartment in Barangaroo, a one-bedroom on the 17th floor of the same building, is up for grabs at just $2.48 million.
Darling Point in the eastern suburbs has the second-highest median apartment price, a snip at $2,932,000. Maclay Longhurst of Sydney Sotheby’s International Realty sold a three.