Sydney’s million-dollar apartments send prices soaring

No longer the cheap alternative to buying a house, Sydney’s apartments are being snapped up for millions of dollars.

A603/23 Archibald Ave, Waterloo. This penthouse apartment has not even been built but just sold for $1.35 million

An apartment used to be the real estate stepping stone to owning a house, but with both Sydney’s Baby Boomers and savvy investors fighting it out for the same addresses, the unit market is flying high.

In the past week, 19 apartments across Sydney have sold for more than $1 million; one for a whopping $5.202 million.

With space and security an increasing issue among the Harbour City’s cashed up buyers, it seems the sky is the limit when house hunting.

There are nine Sydney suburbs which have had a median unit sale price consistently over a million dollars according to RP Data statistics, but that figure looks set to rise as demand increases.

Sydney’s million-dollar babies sold over the past week

$5.202 million — 18-20 Coast Ave, Cronulla

Four bedrooms, two bathrooms, three car spaces

This whole floor glamour pad in Coast development is six years old and has its own plunge pool on the balcony and beach views.

$3.6 million — 155 Macquarie St, Sydney

Three bedrooms, two bathrooms, two car spaces

Macquarie Apartments was designed by Renzo Piano and features a 24/7 concierge, gym facilities and harbour views. This unit has a conservatory and a dressing room.

$2.225 million — 1/2 Ashburner St, Manly

Three bedrooms, one bathroom, two car spaces

In the grand Fairlands mansion, this garden apartment has a host of period features, a sandstone cellar, media room and fireplaces.

$2.15 million — 95 West Esplanade, Manly

Three bedrooms, two bathrooms, four car spaces

This 354sq m penthouse has a shared terrace with one other apartment, surround sound and a private lift plus shared facilities such as a pool.

$1.735 million — 3A Quambie Pl, Edgecliff

Two bedrooms, one bathroom, two car spaces

Over two stories, this 224sq m apartment, or maisonette, has two courtyards and a marble kitchen.

$1.35 million — 23 Archibald Ave, Waterloo

Three bedrooms, two bathrooms, two car spaces

Not yet finished, this two-storey penthouse in Divercity will have a winter garden, stone finishes and a luxury ensuite as well as a residents’ yoga studio, pool and entertainment terrace.

$1.02 million — 60-70 William St, Wooloomooloo

Two bedrooms, two bathrooms, two car spaces

With shared facilities of a rooftop pool, and sauna, this Wooloomooloo apartment has 117sq m of living space and views over the Domain.