In 2024, one square meter of greenfield land cost an average of ***** Australian dollars in Sydney, marking an increase of over 100 Australian dollars from the previous year. Sydney has one of the highest land price rates for greenfield development in Australia.

In 2024, Sydney had the highest price per square meter of land across major cities in Australia. Lot buyers expected to pay a premium of ***** Australian dollars per square meter in the capital of New South Wales. Conversely, lot buyers in Adelaide expected to spend around *** Australian dollars per square meter of land. Prices through the roof Over the past decade, the surge in land and housing costs has been attributed to rapid population growth, driving up median prices for property and land, particularly in cities. In Sydney, the per square meter price of land has almost tripled since 2010, while the number of new property listings has declined over the years. A shortage of residential land available to build on has exacerbated the housing affordability crisis in Australia. Will lending rates continue to climb? The homeownership dream is out of reach for the average Australian without a housing loan. Nevertheless, Australia's high mortgage interest rates for both owner-occupiers and investors have impacted current and aspiring mortgage holders, with the value of household lending trending downwards over the past two years. While rates remained high in the first half of 2024, they likely reached their peak, as shown by the gradual plateau in the second half of the year. This stabilization should, in turn, accelerate buying, selling, and lending activities.

South Sydney had the highest average land value of industrial property with a value of ***** Australian dollars per square meter in Australia. City Fringe Melbourne had the second highest average land value of industrial property with a value of ***** Australian dollars per square meter.

The central business district in Sydney had the highest average capital value of office property in Australia in the second quarter of 2021 with an average capital value of ****** Australian dollars per square meter. The central business district in Melbourne had an average capital value of office property of ****** Australian dollars per square meter in Australia.

In the second quarter of 2021, South Sydney had the highest average capital value of industrial property with a value of ***** Australian dollars per square meter in Australia. Overall, Sydney had the highest average capital value of industrial property per square meter compared to all other states.

In a comparison of selected cities worldwide, New York had the highest costs for the construction of a multi-unit high-rise building in 2023. That year, such a project cost on average ***** U.S. dollars per square meter in New York, but just *** U.S. dollars per square meter in Kuala Lumpur. Sydney, London, San Francisco, and Los Angeles were also among the most expensive cities too.

Sydney was the markets with the highest rent for industrial and logistics real estate in the Asia-Pacific (APAC) region in the second half of 2023. Sydney had an average net asking rent of over ** U.S. dollars per square meter per month, * U.S. dollars above the average rent in the second-ranking market, Brisbane. Rents in India, on the other hand, were substantially lower. In Mumbai, Bangalore, and Delhi, the square meter rent was less than * U.S. dollar.

In the second quarter of 2021, South Sydney had the most expensive net face rent of industrial property in Australia with a net face rent of *** Australian dollars per square meter. The second highest net face rent was in Central West Sydney with a net face rent of *** Australian dollars per square meter.