Introduction
We are observing a profound shift among Sydney property buyers in 2025, with increasing numbers of buyers opting for move-in-ready, fully renovated homes instead of properties requiring substantial work. This trend is particularly evident in the Inner West, where competition for turnkey residences remains intense. As buyers’ agents operating in Leichhardt and across Sydney’s vibrant inner suburbs, below is our analysis of the drivers behind this evolving preference, its implications for buyers, and the opportunities it presents.
The Appeal of Move-In-Ready Homes
Lifestyle Needs and Changing Priorities
The aftermath of COVID-19 has redefined what buyers consider essential in their next home. Flexible floorplans, home office spaces, and seamless indoor-outdoor connections top wish lists for Sydney property buyers. The emphasis has moved away from raw floor space to functional design, evident in the high demand for renovated homes with updated kitchens, modern bathrooms, and landscaped outdoor spaces. Buyers increasingly seek homes that support contemporary work and family arrangements, preferring to avoid the disruption and uncertainty of major renovations.
Economic and Practical Considerations
Rising Construction Costs and Project Delays
Skyrocketing building costs and extended wait times for materials and tradespeople have made renovation projects less attractive. Reports reveal that lengthy project delays and the difficulty in finding reliable trades are discouraging homeowners from embarking on renovations. As a result, fully renovated homes in Sydney have become a scarce commodity, attracting intense competition and commanding premium prices.
Desire for Certainty and Immediate Occupancy
In an environment characterised by scarcity of stock, cost-of-living pressures, and uncertainty, buyers are drawn to homes that enable immediate occupancy. The assurance of moving straight into a modern, finished home, without facing renovation logistics has heightened the appeal of turnkey properties among all buyer cohorts, especially busy professionals and families.
Evidence Supporting the Trend
Market Indicators and Expert Insights
- Premiums for Renovated Properties: Industry analysis and valuer reports note that fully renovated homes, particularly in Sydney’s blue-chip suburbs, are changing hands for record prices. Notably, Ray White’s chief economist Nerida Conisbee has recently highlighted that finding a renovated property is challenging in most areas, as these homes are precisely what most buyers want.
- Renovation Expenditure Data: The NSW market saw nearly $3 billion spent on home renovations in the last recorded year, a 13% increase over five years, yet demand for completed, fully renovated homes remains insatiable.
Shifts in Buyer Mindset
- Properties emphasising intelligent use of space and adaptability outperform larger and unrenovated homes.
- Flexibility, sustainability, and liveability of the accommodation take precedence over traditional metrics like land size or cosmetic appeal.
- Increasing buyer confidence, particularly among upgraders and downsizers, drives demand for lock-and-leave convenience.
What This Means for Sydney Property Buyers
Implications for Current Buyers
For those seeking to buy homes in Sydney’s Inner West and beyond, competition is fiercest for homes requiring little to no work. As buyers’ agents, we advise clients to be mindful of the premium these properties attract and the likelihood of multiple-bid scenarios. We have observed:
- Fast sales campaigns: Well-presented, modern homes often sell rapidly, with some changing hands before scheduled auction dates due to pre-emptive offers.
- Scarcity value: Limited supply of turnkey properties means buyers must be decisive when quality homes enter the market.
Potential Opportunities
Despite the emphasis on fully renovated residences, opportunities remain for astute property buyers:
- Value-Add Prospects: Homes in need of cosmetic improvement or strategic renovation may offer entry below suburb medians. For those with an appetite (and budget) for project management, these properties hold potential for capital growth—especially if sourced in locations with strong long-term fundamentals.
- Off-Market Listings: Buyers’ agents often have access to off-market opportunities, including homes in early stages of renovation or with council-approved plans. These may represent a midpoint between fully renovated stock and homes needing extensive work.
- Negotiating Leverage: Dwellings requiring improvements may linger longer on the market, creating conditions for negotiation. This could beparticularly important as the market shifts towards balance with increased listing volumes in the latter stages of 2025.
Advice for Property Buyers in 2025
- We recommend that buyers carefully review the premium paid for move-in-ready properties relative to their desired location and long-term objectives. Consulting with experienced buyers’ agents enhances access to exclusive listings, due diligence on renovation quality, and strategic negotiation capabilities. Engage a building inspector to comment on the quality of the renovations. We generally notice a big difference in quality between homes that are renovated with the intention of selling at a profit and homes that have been renovated by the existing owners to live in.
- For buyers considering homes requiring work, factor in realistic cost estimates and timelines, given persistent supply and labour constraints. It is prudent to incorporate contingency allowances into renovation budgets.
- The Inner West in particular remains a hotspot for well-executed, fully renovated homes, but value can still be found with professional guidance and a willingness to consider properties with latent potential.
Conclusion
The preference for move-in-ready homes among Sydney property buyers in 2025 is clear and rational, rooted in shifting lifestyle aspirations, economic realities, and market supply dynamics. While competition for turnkey properties is increasing, buyers who navigate the market with informed strategy, whether targeting renovated homes or seeking value in untransformed dwellings are best positioned to achieve their property goals. Engaging skilled buyers’ agents provides unrivalled advantage in accessing, evaluating, and securing the most suitable properties in the ever-evolving Sydney market.
This analysis is produced by Buyer’s Domain, your trusted buyers’ agents in Leichhardt, committed to enhancing your success across the Inner West and beyond. For tailored property search, evaluation, and acquisition services, contact our expert team.
