Ashbury Terraces is setting a new benchmark for Sydney’s Inner West, establishing a pricing precedent in a suburb that has never before offered true luxury terraces or penthouses.
Coronation Property’s landmark project has achieved sales marks of $1.6M for a two-bedroom apartment, $2.2M for a three-bedroom residence, $2.6M for a terrace and $3.2M for a penthouse, demonstrating extraordinary demand for a product type that is entirely new to Ashbury.
Property economist Nerida Conisbee said these results reflect a market that has been waiting for a project of this calibre.
“Ashbury is one of the most tightly held suburbs in Sydney, with residents staying in their homes for an average of 15 years compared to the city-wide average of 10 years,” explained Ms Conisbee.
“The lack of new development and the area’s ageing housing stock mean that opportunities like Ashbury Terraces are incredibly rare.
“By introducing terraces and penthouses to the suburb for the first time, this project is breaking new ground and creating benchmarks that others will now follow.”
Conisbee’s analysis shows the timing is ideal, with just three new homes approved in Ashbury in 2024, representing less than one per cent of approvals across Sydney’s Inner West.
With 34 per cent of the suburb’s population aged over 55 and 27 per cent aged 35 to 54, Ashbury is caught between families looking to upsize and older residents seeking to downsize, but neither group can find suitable modern housing.
“Projects like Ashbury Terraces are a circuit breaker, providing much-needed options for both demographics,” added Ms Conisbee.
“With oversized floorplans, premium finishes and timeless architectural design, Ashbury Terraces is reshaping the suburb’s residential identity.”
The recent terrace sale of $2.6M even outperforms two recent sales of free-standing four-bedroom homes in Ashbury by $200Ki ii.
Meanwhile, looking more broadly throughout the Inner West, the project’s sales also outperform many recent prices achieved, including 49% higher than a three-bedroom apartment in Petershamiii, 46% higher than a three-bedroom apartment in Croydoniv, 29% higher than a three-bedroom apartment in Summer Hillv, 24% and 18% higher than a pair of two-bedroom apartments in Dulwich Hillvi vii.
Aras Labutis, Head of Urban Transformations at Coronation Property, said the project’s early success validates its vision.
“What we’ve delivered with Ashbury Terraces simply didn’t exist here before – and these sales aren’t just strong results, they’re establishing an entirely new pricing framework for Ashbury,” said Mr Labutis.
“Buyers are recognising that this is their chance to get in on the ground floor of a development that’s setting a future standard for the Ashbury housing market.”
Mr Labutis also says the appeal of Ashbury Terraces extends across buyer groups.
“Families, downsizers and singles alike are attracted to the lifestyle on offer here – whether it’s the resort-style living, the design excellence, or the strong sense of community in the Inner West.
“There’s simply nothing else like this locally, and yet it remains only minutes from key public transport hubs, including the soon-to-open Canterbury Metro, as well as Ashfield Train Station.
“On the back of the success we’ve seen at Ashbury Terraces, we’re now bringing forward the adjacent Stage Two project, to be known as Milton Estate, which will complete the precinct.
“The decision to accelerate the release of Milton Estate reflects the depth of market demand we’re experiencing.”
Designed by award-winning architects SJB, Ashbury Terraces comprises 136 residences across five low-rise buildings, including terraces, apartments and penthouses.
The development is set within a heritage conservation pocket overlooking W H Wagener Oval and moments from Peace Park, local schools and village cafés, and is framed by lush communal landscaping by 360 Degrees, with residents enjoying resort-style amenities such as a swimming pool, gym and generous outdoor spaces.
The project’s record sales show that Ashbury is no longer simply a tightly held family suburb, but an emerging prestige market where buyers are prepared to pay for quality, lifestyle and community connection.
The announcement of Milton Estate as the next stage in the precinct signals Coronation Property’s confidence in the suburb’s trajectory and its commitment to completing a legacy project that will define Ashbury for decades to come.
For more information on Ashbury Terraces, please call the sales team on 1800 500 515 or visit ashburyterraces.com.au.
i https://auth.corelogic.asia/
ii https://www.domain.com.au/49-fourth-street-ashbury-nsw-2193-2020167912
iii https://www.realestate.com.au/sold/property-apartment-nsw-petersham-147880848sourcePage=rea%3Asold%3Asrp-map&sourceElement=listing-tile
iv https://www.realestate.com.au/sold/property-apartment-nsw-croydon-148523532
v https://www.realestate.com.au/sold/property-apartment-nsw-summer+hill-148692888?sourcePage=rea%3Asold%3Asrp-map&sourceElement=listing-tile
vi https://www.realestate.com.au/sold/property-apartment-nsw-dulwich+hill-148501820
vii https://www.realestate.com.au/sold/property-apartment-nsw-dulwich+hill-148469904
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