What $1 million can buy you in Sydney's new and off the plan apartment market
Sydney property prices are surging once again.
After a relatively flat market in 2024, which concluded with some softening months before positive economic data regarding inflation and the handing down of what is forecasted to be the first of several rate cuts in 2025, prices in Australia's most expensive capital city are back on the rise.
Inner city apartments aren't getting more affordable any time soon. We've wrapped up the top five newest apartment developments in some of Sydney's most central suburbs that cost under $1 million.
What: Danks St District, Waterloo
Where: 903-921 Bourke Street, Waterloo NSW 2017
Who: DASCO
DASCO’s game-changing new Waterloo precinct, Danks St District, has its entry-level apartments come in at $965,000.
Bourke Street Residences is the first release of the new neighbourhood that will see six new residential buildings delivered, as well as the restoration of two heritage-listed structures.
There are one-, two-, and three-bedroom apartments on offer at Bourke Street Residences, which will also have private amenities including a rooftop garden and outdoor gym.
Designed by a mix of architecture firms, including MHNDU and Bates Smart, the buildings feature a mix of brick and contemporary design elements that reference the industrial history of the area.
Danks St District is located near Redfern, Green Square, and Surry Hills, and benefits from proximity to parks, dining options, and public transport.
Key features:
Insured with Resilience Insurance's 10-year Latent Defects Insurance
Within walking distance of key inner-city precincts
What: The Kensington, Kensington
Where: 147-151 Anzac Parade, Kensington NSW 2033
Who: TOGA
Another one of Sydney's most renowned builder-developers, TOGA, is offering apartments not quite under, but just over, the $1 million threshold.
It was worth noting however because The Kensington is one of TOGA's most connected new developments, on the doorstep of the Kensington Light Rail stop, and the growing Randwick health precinct and main UNSW campus.
The Kensington, currently under construction by Dasco, will comprise 142 apartments, including a small number of SOHO (Small Office/Home Office) residences on the ground floor.
Designed by Turner Studio, the building aims to balance traditional architectural references with contemporary materials.
The development will feature rooftop and shared communal areas and is located within walking distance of light rail, offering quick access to the CBD and beaches.
Key features:
Part of a long-term urban renewal zone
SOHO residences available with private street access
Light rail access and future investment in town centre improvements
What: Stanton Place, Rosebery
Where: 5-15 Dunning Avenue, Rosebery NSW 2018
Who: Stockland
Stanton Place is part of Stockland’s return to high-density apartment development. The Rosebery project will include 144 apartments across three buildings, centred around a landscaped courtyard.
The development is being designed with sustainability in mind, including EV charging options, solar panels, and rainwater tanks. Located on Dunning Avenue, it’s well connected to cafes, Green Square Station, and local amenities such as The Cannery.
Key features:
New Stockland apartments in an established inner-south location
Emphasis on sustainability and green space
Walkable access to shops, transport, and parkland
What: The Rothschild, Rosebery
Where: 24 Rothschild Avenue, Rosebery NSW 2018
Who: Deicorp
Builder-developer Deicorp recently completed The Rothschild, also in Rosebery, and has one-bed one-bath apartments, including those with a car space, under $1 million.
The building’s design, by Candalepas & Associates, incorporates European-inspired elements and sits within a quieter pocket of the inner south.
The location offers good access to transport, parks, and established retail precincts, making it a practical choice for those seeking an inner-city home without a construction wait.
Key features:
Completed apartments with immediate move-in
Designed by award-winning architects
Close to key employment, retail, and transport hubs
