In the heart of Sydney, the city’s housing market is booming with apartments and townhouses rising to unprecedented heights.
But while the rental market in the CBD is booming, the central region is also getting the best of the deal with apartments rising to record heights.
In the past two months alone, the number of apartments and townshomes in central and inner-Sydney have soared by around 25 per cent.
In the CBD, apartments are up 25 per-cent, with more than 60 per cent of the units being townhouses, according to data from Domain Group.
But the latest figures from the Domain Group and Housing NSW show the townhouse market is in a much better state than it was just two months ago.
It is still a lot of work to achieve the record of 40 per cent growth in townhouse sales, which the figures from Domain show is a good sign for the future of the market.
The Domain Group figures show that in the month of June, the total number of townhouses sold in the Sydney metropolitan area jumped by 11.7 per cent to 7,857, while the total amount of apartments sold in Sydney’s central and outer suburbs rose by almost 25 per to 14,539.
This is not a bad sign at all, given that there are still lots of houses and apartments available.
For more of our central city coverage, check out the latest issues of the Australian Financial Review, which is published on Tuesdays and Thursdays.
Like our Sydney news?
Like us on Facebook and follow us on Twitter to keep up with our latest news and views.