Commercial Market Update - Sydney Units Cityscope

The latest research from Sydney Units Cityscope shows that apartment sales in Sydney’s CBD have increased both in number and total sales value in the last quarter, due two new strata buildings being included.

For the three months to October 2017, there were 385 sales at a total value of $438.5 million, compared to 222 sales at a total value of $275 million for the previous quarter. The yearly figures have decreased in total sales value and number, with 853 sales at a total value of $1.007 billion for the twelve months to October 2017, compared to 902 sales at a total value of $1.155 billion for the previous year. 

The table below shows sales recorded for the past eight updates of Sydney Units Cityscope.

2017-10-20--sydneyunitscityscopequarterlysales

Notable sales in the October 2017 update of Sydney Units Cityscope include: 

  • Unit 61 in Bennelong at 1 Macquarie Street, Sydney, a 202 sqm apartment including balconies on level 6 and 35 sqm on basement parking level 3, which was sold for $10.5 million; 
  • Unit 3501 in The Tower at 60 Market Street, Sydney, a 592 sqm three-bedroom plus library penthouse comprising 335 sqm, including balconies and a large terrace on level 35 and 257 sqm, including terraces on level 36, which was sold for $10 million in a transaction handled by McGrath Edgecliff; 
  • Unit 36 in Bennelong at 3 Macquarie Street, Sydney, a 202 sqm apartment including balconies on level 3 plus a 33 sqm car parking area on basement level 2 and a 6 sqm storage space on basement level 4, which was sold for $9 million and
  • Unit 252 in The Quay at 2 Phillip Street, Sydney, a 253 sqm four-bedroom harbourside apartment, including balconies on level twenty-five plus two car spaces, which was sold for $8.715 million through Morton Sydney.
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