Unit values are having their time in the sun in Sydney, as affordability and higher interest rates put a dampener on the house market.

The monthly update from property data analytics firm CoreLogic shows unit values increased by 0.6 per cent across September, whereas the counterpart house market saw a modest 0.1 per cent gain.

The Sydney median unit value is now $860,000, compared to the median value of houses which is now $1,473,000.

The growth in the Sydney market has slowed, with dwelling values, which incorporates houses and units, showing 0.5 per cent gains over the September quarter, the lowest growth since early 2023 when values briefly declined.

<h2>What happened in Sydney’s off the plan apartment market in September</h2>

There has been strong response to several new off the plan apartment developments in Sydney in September, particularly in the booming Lower North Shore region.

Over 60 per cent of apartments in the first release at TWT Property Group's <a href="https://www.urban.com.au/new-apartments/the-collective-crows-nest-23-35-atchison-st-crows-nest">The Collective</a>, on the fringe of <a href="https://www.urban.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> and <a href="https://www.urban.com.au/new-apartments/st-leonards-nsw-2065">St Leonards</a>, were snapped up on the opening weekend.

Local downsizers and young couples made up the majority of purchasers who were attracted to the proximity to both&nbsp;Crows Nest Metro and Crows Nest village.

[smartcode_project:default project_id=94318 project_image_fid=293323]

The first building will have 93 one, two, three and four-bedroom apartments.&nbsp;The curved, 16-level building features interiors by&nbsp;<a href="https://www.urban.com.au/architects/dbi">DBI</a>&nbsp;who has created an interior scheme that is focused on creating functional living spaces, like the inclusion of study nooks and protected balconies.

The first stage of the masterplan will feature 3,000 sqm of commercial space, part of the 10,000 sqm of commercial space that will be on offer across the total 1.3-hectare development.&nbsp;

&nbsp;

[smartcode_project:default project_id=94318 project_image_fid=293324]

&nbsp;

It's been the same strong response to Elevate at Hume Place, the new release of apartments literally above Crows Nest Metro from Third.i.

The 130 one, two, three bedroom apartments offer unparalleled access to Sydney, as well as all of the amenity in the booming Lower North Shore metro corridor.

The apartments are split into three categories; The Urban Residences, Panoramic Residences, and Skyhomes, offering a wide choice for buyers.

[smartcode_project:default project_id=142550 project_image_fid=297877]

Hume Place will comprise three mixed-use buildings designed by the internationally acclaimed architecture firm Woods Bagot.

&nbsp;

&nbsp;

Third.i and joint venture partner Phoenix Property Investors (PPI) acquired the&nbsp;<a href="https://www.urban.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>&nbsp;Overstation Development at the end of 2022 after being shortlisted by the NSW Government and Sydney Metro in a rigorous and highly competitive tender process. Third.i and PPI were selected over some of Australia’s most successful developers, to deliver both sites above the station.

[smartcode_project:default project_id=142550 project_image_fid=297878]

Records continued to set in the east with the circa $22 million sales of the AYA Penthouse representing the highest price paid for a non-beachfacing apartment.

The four-bedroom penthouse, designed by&nbsp;<a href="https://www.urban.com.au/architects/koichi-takada-architects" target="">Koichi Takada</a>&nbsp;at the top of the nearly complete Aqualine building, is the largest single-level penthouse in Bondi Beach.

<img alt="AYA Penthouse, Bondi Beach's largest single-level apartment sells for around $22 million" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202024-09-12%20at%207.40.27%E2%80%AFAM.png?VersionId=1pjK1aEVzQQ7f8WmAoiD.aQuvoXAxx7W" />

There was another record set in <a href="https://www.urban.com.au/new-apartments/the-centennial-collection-2-nelson-street-bondi-junction">The Centennial Collection</a> in the nearby&nbsp;<a href="https://www.urban.com.au/developments/bondi-junction-nsw-2022">Bondi Junction</a>. An $8.85 million sale is the highest achieved for a three-bed apartment in the suburb.

Ray White Projects Director, Marcello Bo, said local rightsizers continue to show strong interest in the project with "generous layouts and amazing interiors."

“Uninterrupted views of the harbour and city skyline is a big drawcard for buyers, along with the proximity to Woollahra,&nbsp;Bondi Junction&nbsp;and Centennial Park across the road," Bo said.

“The Centennial Collection&nbsp;finishes are extremely luxurious. There’s a winter pool and a year-round rooftop pool, a concierge and wellness hub; it really is a luxury experience.”

[smartcode_project:default project_id=136076 project_image_fid=212615]

Activity from both buyers and developers continued in Castle Hill.

Developer&nbsp;<a href="https://www.urban.com.au/developers/cpdm">CPDM</a> has secured significant interest following the launch of its low-rise development&nbsp;<a href="https://www.urban.com.au/new-apartments/larool-crescent-castle-hill-2-22-larool-crescent-castle-hill-nsw-2154">Larool Crescent</a>.

Its proximity to Castle Towers, and its variety of configurations, has seen it become a hit with first home buyers, rightsizers and downsizers.

[smartcode_project:default project_id=135330 project_image_fid=289164]

The most notable new development plans filed in September across Sydney was also in <a href="https://www.urban.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> where&nbsp;<a href="https://www.urban.com.au/developers/kassis-homes" target="">Kassis Homes</a> unveiled plans for Grand Reve II, named after its recently completed debut Castle Hill apartment development, <a href="https://www.urban.com.au/new-apartments/grand-reve-castle-hill-8-18-garthowen-crescent-castle-hill">Grand Reve</a>.

The new plans are for four towers, three residential and one hotel, next door to Grand Reve across a large 9,074 sqm on&nbsp;Garthowen Crescent and Old Castle Hill Road.<img alt="Reve Group file for new four-tower development in Castle Hill" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202024-09-10%20at%204.33.37%E2%80%AFPM.png?VersionId=JGCTtL5_W6OlfHZHUTLqDx8oVZZU8xyo" />

The new development will again offer a range of configurations. Across the 19, 22 and 23-level residential buildings will be 50 one-beds, 147 two-bed apartments, 56 three-beds and 11 four-bed apartments.

"We've been building in the area for three decades, and we're passionate about delivering high-quality residential living to&nbsp;<a href="https://www.urban.com.au/developments/castle-hill-nsw" target="">Castle Hill</a>," Sam Kassis told Urban.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/reve-group-file-for-new-four-tower-development-in-castle-hill">Reve Group file for new four-tower development in Castle Hill</a>

There has been strong response to several new off the plan apartment developments in Sydney in September, particularly in the booming Lower North Shore region

Joel Robinson

City Beat October 2024: Units continue to dominate houses in Sydney

Gold Coast apartment developer&nbsp;<a href="https://www.urban.com.au/developers/marquee-development-partners">Marquee</a> has announced the release of the penthouses atop its high-end Palm Beach apartment development, La Belle Palm Beach.

The release of the penthouses comes following the recent commencement of construction of the <a href="https://www.urban.com.au/new-apartments/la-belle-palm-beach-332-the-esplanade-palm-beach">14-level building</a> of 75 apartments that is over 70 per cent sold.

&nbsp;

The Penthouse Collection includes 10 sub penthouses and the sprawling five-bedroom Grand Penthouse.

[smartcode_project:default project_id=102340 project_image_fid=305418]

“We’re excited to unveil what we believe will be the pinnacle of penthouse living on the Southern Gold Coast,” said Jacques Winterburn, Director of Marquee.&nbsp;

“The team have been working tirelessly to craft a collection of residences worthy of this prime absolute beachfront location in Palm Beach. Our commitment to creating exceptional spaces where every detail elevates the living experience is what makes this collection truly unparalleled.&nbsp;

“This collection of Penthouses is even more enticing for buyers with Marquee’s trademark premium residential amenity in La Belle delivering over 1,500m2 of wellness and relaxation facilities dedicated to elevating residents’ lifestyle and wellbeing. This is above and beyond what they could expect in a residential building on the Gold Coast beachfront now or in the future

[smartcode_project:default project_id=102340 project_image_fid=305419]

The Grand Penthouse offers 520 sqm of internal living space and a further 162 sqm of external area. It has five&nbsp;bedrooms, four and a half bathrooms, a multi-purpose room, and four car parks, along with an indoor cinema, wine display, a large home office, and a feature fireplace,&nbsp;

The subpenthouses are a mix of three and four-bedroom apartments. The three-bedroom sub penthouses start from $4,125,000 and the four-beds from $7.5 million.&nbsp;

&nbsp;

Key design features in each subpenthouse include desirable northeast-facing orientation, floor to ceiling glass capturing protected ocean and beach views, Gaggenau cooking appliances, premium oak timber flooring throughout, and 100% New Zealand wool carpets in the bedrooms.&nbsp;

[smartcode_project:default project_id=102340 project_image_fid=274768]

<a href="https://www.urban.com.au/new-apartments/la-belle-palm-beach-332-the-esplanade-palm-beach">La Belle</a> residents will have access to two levels of amenity including a&nbsp;heated outdoor pool and spa, teppanyaki dining bars and entertaining areas, and a residents' lounge with a billiards table, bar, and large screen TV for social gatherings.

&nbsp;

The building will also feature a wellness centre with a fully equipped gym, dedicated yoga and Pilates studio, Nordic and infrared saunas, an indoor hydrotherapy hot pool, and two cold plunge immersion baths. There's also set to be a hotel-style lobby with a Porte Cochère and fully equipped private offices designed to accommodate remote working.

[smartcode_project:default project_id=102340 project_image_fid=273596]

“We have had a tremendous response since launching La Belle, with the desire for low maintenance beachfront property in a secure building proving popular with downsizers and second homeowners,"&nbsp;Winterburn said.

"Our dedication to delivering state-of-the-art amenities, including a world-class wellness centre and opulent communal spaces, has clearly struck a chord with discerning buyers looking for a place to relax and spend time with family and friends at the beach."

Construction of La Belle Palm Beach is underway, with completion anticipated in the second quarter of 2026.

[smartcode_project_cta:default project_id=102340]

Marquee launches exclusive penthouse collection at La Belle Palm Beach

TWT Property Group has celebrated a major milestone in the construction of the first stage of The Collective, its precinct-driven development on the Crows Nest side of St Leonards.&nbsp;

Moving ahead of schedule, the completion of the basement concrete pour and commencement of vertical construction was celebrated earlier this month with what TWT is calling a "Ground Building Ceremony."

TWT’s "Ground Building” is a new approach that celebrates progress beyond the traditional groundbreaking. The event marks the moment when a project officially begins its vertical ascent, moving from foundation works to tangible construction progress.

Stage one of <a href="https://www.urban.com.au/new-apartments/the-collective-crows-nest-23-35-atchison-st-crows-nest">The Collective</a> – known as The Atchison – includes the first of the development’s four buildings, comprised of 93 units across 16 levels, conveniently located only a four-minute walk to the <a href="https://www.urban.com.au/developments/st-leonards-nsw-2065">St Leonards</a> train station and just 300 metres from the brand-new <a href="https://www.urban.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> Metro Station.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/the-sydney-suburbs-set-to-benefit-the-most-from-the-new-sydney-metro">The Sydney suburbs set to benefit the most from the new Sydney Metro</a>

[smartcode_project:default project_id=94318 project_image_fid=293324]

With Sydney’s Lower North Shore experiencing escalating land values and tight housing supply, The Collective has attracted significant buyer interest, thanks to its prime location and thoughtful design. The development will provide a much-needed blend of apartment sizes designed to meet the requirements of a variety of homebuyers, including young professionals and downsizers.

Gavin Zhang, General Manager of TWT Property Group,&nbsp;said of Friday’s ceremony that the event marks an exciting turning point for the project and the community, with The Collective now “moving beyond the ground”.

"This Ground Building Ceremony celebrates the tangible progress we're making in bringing this project to life ahead of schedule," Zhang says.

"It’s a unique moment that reflects our commitment to delivering exceptional, well-connected homes in strategic locations."

[smartcode_project:default project_id=94318 project_image_fid=294220]

Derek Pearson, construction partner Westbourne Constructions, said the team pride themselves&nbsp;on delivering quality construction on time and on budget.

“We look forward to continuing our partnership with TWT to create high-quality homes that reflect the needs of this vibrant, growing community."

[smartcode_project:default project_id=94318 project_image_fid=293327]

<h2>Apartment mix, sizes, and prices:</h2>

<ul type="disc">
	<li>One-bedroom apartments (50 sqm internal, 9 sqm external), total area 59 sqm, starting from $935,000</li>
	<li>Two-bedroom apartments (75 sqm internal, 11 sqm external), total area 86 sqm, starting from $1.48 million</li>
	<li>Three-bedroom apartments (109 sqm internal, 39 sqm external), total area 148 sqm, starting from $2.3 million</li>
	<li>Four-bedroom apartments (149 sqm internal, 28 sqm external), total area 177 sqm, starting from $3.05 million</li>
</ul>

<h2>A vibrant future for Crows Nest</h2>

With The Collective continuing to take shape, the project is set to become a key landmark in the Crows Nest precinct, offering not just housing but also a space where creativity and community flourish.

With its integration of commercial spaces, including artist studios, The Collective builds on TWT’s legacy of blending residential living with creativity and community connection.

As construction moves ahead of schedule, TWT anticipates continued strong demand as the project nears its next phases.

The project is slated for completion in Q3 2026.

[smartcode_project_cta:default project_id=94318]

TWT marks latest construction milestone at The Collective Crows Nest

Beulah has revealed one of Northcote's largest houses on the banks of the Merri Creek, part of its rare new development The Wilds which will be the first carbon-neutral detached housing project in inner Melbourne.

The five-bed home on nearly 500 sqm fronts the creek and is being positioned as a tree-change within the city. The standalone home has direct access to the creek, from its private gardens that are too oriented to take in the water.

The purchaser of the home can work with <a href="https://www.urban.com.au/new-townhouses/brunswick-established-23-hodgson-st-brunswick">Beulah</a> to create a&nbsp;creekfront wellness retreat that could include things like an infrared sauna, hydrotherapy spa or plunge pool, or even a bespoke gym or studio.&nbsp;

<img alt="Beulah’s The Wilds" data-entity-type="file" data-entity-uuid="d242d962-a35b-48a2-90cd-3685ef92b5dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Wilds_Artist%20Impression_2.jpg?VersionId=dMOdQOzRpC7oLc6KRWXtCpZSkkYstcHc" />

Located on Cunningham Street in the sought-after Westgarth precinct of <a href="https://www.urban.com.au/developments/northcote-vic-3070">Northcote</a>, The Wilds is a collection of 15 unique houses.

Aspiring to set a benchmark in Environmentally Sustainable Design principles, the development will be carbon neutral with all houses incorporating solar panels and being 100 per cent electric, including induction cooktops, enabling the houses to operate fossil-fuel-free.

Passive solar design ensures the buildings are designed to provide the utmost energy efficiency, with strategically placed shading to ensure better thermal comfort and experience indoors.

Additional slab insulation; cross ventilation to assist in natural cooling; double glazed windows and doors; and a 5,000L rainwater tank for gardening, toilets and laundry, further reduce the homes’ carbon footprint.&nbsp;

The house also has a three-car basement garage with provision for electric vehicle charging, while bike racks will be available within common areas to encourage sustainable transport. There will also be space for a private wine cellar.<img alt="Beulah’s The Wilds Resort House" data-entity-type="file" data-entity-uuid="e86b4dad-4976-4e95-bf10-79d4ca6366cb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Resort%20House_Artist%20Impression.jpg?VersionId=0iwxUREpMXvpB1V1oQLcqEqRHJHJXbrw" />

Beulah Executive Director Adelene Teh said the home offers a once-in-a-lifetime opportunity to live so close to nature while enjoying the benefits of a resort-style home, also in close proximity to lifestyle amenities like retailers and restaurants, with the CBD a short tram ride away.

“The Wilds is incredibly rare in design, in that the collection consists of expansive detached houses with unprecedented frontage to the Merri Creek," Teh says.

"The residence is the largest of the 15, offering one of the last remaining opportunities to secure not just a groundbreaking residence to call home, but a lifestyle that offers health, well-being and sustainability, with considered biophilic design not seen elsewhere in the inner north."

<img alt="Wilds" data-entity-type="file" data-entity-uuid="c2102f3e-a6e8-4f59-8c06-a228a3cfd9ee" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-16%20at%203.42.26%E2%80%AFPM.png?VersionId=FSu8elEno.OcXN2zbLGQfHi60H_q54jS" />

The house design prioritises health and wellbeing and was informed by extensive research, including insights from a study by esteemed environmental psychology Professor T. Hartig that looked into nature’s influence on mental restorative benefits.

"The lucky homeowner will enjoy a lifetime of these benefits, from reduced stress levels and increased creativity, to improved wellbeing and better sleep as a result of such closeness to nature," Teh says.

Beulah is known for its boundary-pushing initiatives, with its Paragon tower in Melbourne CBD hosting the largest vertical installation of solar panels in Australia, as well as the country’s first indoor urban forest.

The house is listed at $5.2 million, with the rest of the homes in The Wilds starting from $2.8 million.

<a href="https://www.urban.com.au/new-apartments/the-wilds-2a-cunningham-street-northcote">The Wilds</a> is currently under construction and scheduled for completion in 2025.

[smartcode_project_cta:default project_id=104323]

The house design prioritises health and wellbeing and was informed by extensive research, including insights from a study by esteemed environmental psychology Professor T. Hartig that looked into nature’s influence on mental restorative benefits.

Beulah reveals one of Merri Creek's largest home in The Wilds, Northcote development

<a href="https://www.urban.com.au/developers/monolith-projects">Monolith Projects</a> has officially appointed Sinjen as the builder for their highly anticipated Sculpt apartment development in Hawthorn, marking a significant milestone with construction set to commence soon.&nbsp;

<a href="https://www.urban.com.au/new-apartments/sculpt-hawthorn-43-riversdale-road-hawthorn">Sculpt</a>, located on Riversdale Road, stands out as a unique offering in <a href="https://www.urban.com.au/developments/hawthorn-vic-3122">Hawthorn</a>'s tight off the plan apartment market, being the only development currently available in the area.

Sculpt, designed in collaboration with the renowned <a href="https://www.urban.com.au/interior-designers/mim-design">Mim Design</a>, <a href="https://www.urban.com.au/architects/parallel-workshop-architecture">Parallel Workshop</a>, and landscape architect <a href="https://www.urban.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, will comprise 18 two, three, and four-bedroom apartments.&nbsp;

[smartcode_project:default project_id=144271 project_image_fid=279494]

The architectural design of the low-rise building is characterised by its curved, sculptural form, with a palette of neutral brick and bronze detailing that seamlessly integrates with the surrounding streetscape.&nbsp;

The development draws inspiration from the natural beauty and heritage of Hawthorn, incorporating artistic elements that aim to blend luxury with nature.

[smartcode_project:default project_id=144271 project_image_fid=279489]

The interior design, led by Mim Design, emphasises spaciousness and refinement, with materials such as marble, timber, and bronze accents used throughout.&nbsp;

The apartments are fitted with high-end fixtures and premium Miele appliances, while open-plan living spaces are enhanced by floor-to-ceiling windows that allow natural light to flood in.&nbsp;

Residents will enjoy features such as bespoke integrated bars, electric fireplaces, and expansive terraces with lush landscaping designed by Jack Merlo.

[smartcode_project:default project_id=144271 project_image_fid=279497]

Sustainability is a core principle of Sculpt's design, with passive features integrated to optimise natural heating and cooling.&nbsp;

A 10 kW rooftop solar PV system, electric vehicle charging infrastructure, and an in-ground rainwater tank are among the environmentally conscious features that align with the project’s commitment to reducing its carbon footprint.

Sculpt’s location at 43 Riversdale Road offers residents convenient access to Hawthorn’s amenities like the retail strip of Glenferrie Road, just a short walk away.&nbsp;

Jellis Craig Projects Director Stephen Bowtell is marketing Sculpt.

[smartcode_project_cta:default project_id=144271]

Sculpt’s location at 43 Riversdale Road offers residents convenient access to Hawthorn’s amenities like the retail strip of Glenferrie Road, just a short walk away.

Brand new Bondi Beach home sells pre-auction

Staff reporter

Editor's Picks

Developments

New apartments

New townhouses

News