“Activity in the Macquarie and Elizabeth Street precinct has also been elevated this year.
“The Core sector recorded $71.67M, followed by Midtown with $44.06M and Western Corridor $23.49M changing hands, while the Southern precinct, due to its limited stock, has recorded just $9.79M for the full 2018 calendar year.”
Ms Rader said considering the annual capital values by precinct, 2018 saw outstanding growth across all precincts, adding to the last five years where value increases had been substantial.
“Core continues to be the most expensive precinct which has increased to $12,877/sqm, up 14.36 per cent over the last year, followed by Midtown up 19.98% to $11,768/sqm,” she said.
“A highlight’s in the Southern precinct, achieving over $10,000/sqm for the first time. Over a five-year period, the growth in this segment of the market has been remarkable, particularly given the prolonged period where limited change occurred in values for this asset class.
“Overall, the Sydney CBD strata market has yielded annual growth of 27.69 per cent per annum, the most stable growth rate being in the Core sector, up 26.81 per cent per annum over this period.”
Ray White Commercial NSW’s Sales Director Strata Sales Christian Minards said the sale of a premium King Street Wharf waterfront office at Suite 505/35 Lime Street in Sydney typified the strength of the market.