A new residential development, Ashbury Terraces, by Coronation Property is nearing completion in Sydney’s Inner West suburb of Ashbury, with a scheduled finish in early August 2025.
The project aims to provide contemporary and spacious homes in a suburb notable for its strong community ties and limited housing turnover.
Ashbury Terraces comprises 136 residences distributed across five low-rise buildings, including 59 terraces, 74 apartments, and three penthouses.
Designed by award-winning architects SJB and complemented by landscaping, the development integrates with the heritage conservation area near W H Wagener Oval and Peace Park, reflecting the suburb’s character and appeal.
Leading property economist Nerida Conisbee highlighted Ashbury’s stable resident profile, stating: “Ashbury is a suburb where people stay, not leave.
“The average property hold period is 15 years, compared to the Sydney average of around 10 years.
“That deep local attachment — combined with high ownership levels and a shortage of suitable new housing — is creating significant pent-up demand.”
Conisbee further noted the demographic factors intensifying demand: “With 34 per cent of residents aged over 55 and 27 per cent aged 35–54, there’s a perfect storm of families looking to upsize and older residents ready to downsize — but nowhere for either to go.”
She also underscored the limited new housing approvals, stating: “Just three new homes were approved in Ashbury in 2024 — less than 1 per cent of approvals across the Inner West.
“It’s virtually impossible to meet local demand without new projects like this.”
Aras Labutis, Head of Urban Transformations at Coronation Property, explained the project’s purpose: “We’ve created homes for people who love Ashbury, but have outgrown their existing housing, or want to remain close to family without compromising on space or amenity.
“This is the missing link between detached homes and high-rise apartments — and Ashbury Terraces delivers that in a way that’s true to the area’s character.”
He added: “Ashbury Terraces gives these residents a rare chance to find a modern, low-maintenance home that reflects their lifestyle while keeping them close to the people and places they love.”
Economically, Ashbury supports the project with strong fundamentals.
The median household income there is $2,571 per week, exceeding the Sydney average, and the median house price is approximately $2.21 million.
Owner-occupiers constitute more than 86 per cent of residents, with nearly half owning their homes outright.
The development emphasises spacious floor plans and premium finishes, alongside resort-style amenities such as a swimming pool, a fully equipped gym, private dining areas, wellness rooms, and extensive green spaces.
Conveniently located close to Ashfield and Burwood train stations, as well as local shops, cafés, and schools, Ashbury Terraces is positioned to meet an underserved market segment seeking lifestyle, community, and quality in an enduring Sydney suburb.
The project reflects a broader challenge and opportunity in Sydney’s inner west: a strong, aging population combined with limited new housing supply, driving demand for well-designed, community-sensitive residential options that fill the gap between traditional detached homes and high-density apartment towers.
