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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
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top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Sydney inner-city apartment prices set to keep rising

By Staff Reporter
26 August 2014 | 1 minute read

Sydney inner-city apartments have been forecast to enjoy price growth of 21 per cent over the next seven years.

A new report from research group BIS Shrapnel has forecast median price growth of about six per cent per annum for 2014/2015 and 2015/2016.

The Inner Sydney Apartments report also forecast total price growth of about 21 per cent - or almost three per cent per annum - through to 2021.

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High levels of off-the-plan sales are expected to continue over the next two years and reach a “historic peak” by 2017.

This will be driven by buoyant investor demand, low vacancy rates, the expectation of further price growth and low interest rates, according to the report.

BIS Shrapnel estimated that about 5,800 inner-Sydney apartments are currently under construction and that 11,500 new apartments are likely to be completed in the next three years.

The report warned that this increase in stock has the potential to cause an oversupply.

Senior manager Mr Angie Zigomanis said investor demand was likely to remain buoyant barring any negative news concerning the broader Sydney residential market.

“To some extent, the inner-Sydney apartment market is playing catch-up after almost a decade of weak demand for new apartments and limited price growth,” he said.

“However, the current surge in off-the-plan demand is likely to see the market get ahead of itself again as pre-sold new apartment projects commence and progressively work their way through to completion.”

Sydney inner-city apartment prices set to keep rising
Sydneyapartments
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Listen to other installment of the Real Estate Business Podcast
top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.