What Is My Surry Hills Property Worth in 2026?

May 2026

It’s one of the most common questions we hear from Surry Hills owners: “I know the market has moved, but what is my property actually worth right now?”

It’s the right question to be asking. And the honest answer is that it depends on more than just suburb-wide medians. Surry Hills is not a uniform market. A terrace on Bourke Street, a studio apartment on Crown Street, and a two-bedroom unit on Foveaux Street can represent three very different value propositions, even within a few hundred metres of each other.

This article breaks it down by property type, gives you the current data, and tells you what genuinely moves the needle on your Surry Hills property’s value in 2026.

First, what does the suburb-wide data tell us?

Before getting into the detail, here’s where Surry Hills sits as a whole right now:

Property typeMedian priceAnnual growthDays on marketRental yield
House / terrace~$2.35–$2.50m7.9–15%29–39 days2.5–2.6%
Unit / apartment~$885,000–$940,000Flat to -5.9%35–45 days4.4%

Sources: CoreLogic via Your Investment Property Magazine | HtAG Analytics | Murray Property — Surry Hills Market Overview

The divergence between houses and units is significant and has been widening. If you own a terrace or house in Surry Hills, the current data is squarely in your favour. If you own a unit, the picture is more mixed, but rental demand is strong, and the appraisal conversation is more nuanced than the headline figures suggest.

For a broader picture of what’s driving these numbers, read our Surry Hills Property Market Update for 2026

Terraces and houses, the premium segment

Terrace homes are the heartbeat of the Surry Hills property market. They are what most buyers come to the suburb specifically to find, and supply is genuinely scarce. The suburb covers just 1.3 square kilometres with a predominantly heritage streetscape, there is no meaningful pipeline of new terrace stock coming to market.

At the top end, well-presented two and three-bedroom terraces with off-street parking, a renovated kitchen and bathroom, and north-facing outdoor space are achieving strong results well above the suburb median. In the current market, a fully renovated three-bedroom terrace in the better streets Bourke Street, Fitzroy Street, Riley Street, Albion Street, is regularly transacting in the $2.8 million to $3.5 million range depending on size, configuration and presentation.

More modest terraces, those requiring renovation, with no parking, or on busier arterials, are still transacting solidly but with more negotiation. The gap between a well-presented property and an unprepared one is larger now than it was two or three years ago, when buyer competition meant almost anything sold well regardless of condition.

In the past 12 months, 123 houses were sold in Surry Hills, with properties spending a median of 35–39 days on the market and attracting interest from around 1,860 buyers per listing, a strong indicator of genuine buyer depth in this segment.

Source: CoreLogic via YIP | Murray Property — Surry Hills Market Overview

What adds value to a Surry Hills terrace in 2026:

  • Off-street parking or a garage (significant premium in a parking-scarce suburb)
  • North or east-facing rear yard or courtyard
  • Original period detail retained, buyers pay a premium for authentic heritage character
  • Renovated kitchen and bathroom to a contemporary standard without overcapitalising
  • Quiet internal street rather than a main road

What limits value:

  • Heavy traffic exposure (Crown Street, Cleveland Street, South Dowling Street frontages)
  • No outdoor space whatsoever
  • Significant deferred maintenance visible at inspection
  • Strata or body corporate issues for attached properties

Units and apartments, a more complex conversation

The unit market in Surry Hills requires a more careful appraisal conversation. The headline figures, flat to slightly negative annual growth, median around $885,000–$940,000, mask real variation between property types and building quality.

Studios and one-bedroom units are under the most price pressure. Affordability concerns, higher investor activity and the RBA rate environment have weighed on this segment. If you own a compact studio in an older block, the appraisal may be more conservative than you’d hoped, but rental demand remains strong, with median unit rents around $775–$800 per week and gross yields of 4.4%, which can be a reason to hold rather than sell depending on your circumstances.

Source: CoreLogic via YIP

Two-bedroom apartments, particularly those with parking, storage, good natural light and modern finishes, are performing materially better than the segment median. A well-positioned two-bedder in a quality building, particularly a boutique block with character features rather than a large anonymous complex, can still achieve strong results. Comparable properties in this category have been transacting in the $1.1 million to $1.5 million range in Surry Hills, depending on building quality, floor level, aspect and parking.

In the past 12 months, 278–287 units were sold in Surry Hills, with properties spending a median of 36–45 days on the market and attracting interest from around 2,494 buyers per listing.

Source: Murray Property — Surry Hills Market Overview | CoreLogic via YIP

What adds value to a Surry Hills unit:

  • Secure car space (increasingly rare and disproportionately valued)
  • Storage cage
  • Natural light, north or east aspect above ground floor
  • Boutique building with low owner-occupier to investor ratio
  • Balcony or courtyard access
  • Walk-up character building versus large anonymous complex

What limits value:

  • Dark ground floor aspect with no natural light
  • No parking in a suburb where street parking is extremely competitive
  • High strata levies or a building with a known defects history
  • Large building with high investor concentration and frequent vacancy

The streets that consistently outperform

Location within Surry Hills matters as much as property type. Not all streets are created equal, and buyers know it.

Bourke Street — One of the suburb’s most sought-after addresses. Tree-lined and predominantly residential north of Cleveland Street, with an active café strip further south. Terrace homes here consistently achieve above-suburb-median results and are tightly held by long-term owners.

Riley Street and Fitzroy Street — Quiet, residential streets with strong owner-occupier demand. Properties here rarely come to market, and when they do, competition is genuine and campaigns are typically short.

Albion Street — Heritage Victorian terrace streetscape, popular with families and upsizers. Proximity to Surrey Hills Public School is a draw for the owner-occupier buyer segment.

Foveaux Street — More mixed-use in character, but proximity to the Surry Hills Village development and Central Station is driving renewed buyer interest in this corridor. Worth watching as the development matures.

Crown Street — The commercial spine of the suburb. Residential properties directly on Crown Street face traffic and noise exposure, but the side streets running off Crown, particularly between Cleveland and Devonshire Streets, are genuinely desirable and offer strong value.

For more on how development is shaping Surry Hills street values, see: Murray Property — Surry Hills Property Prices and Market Overview

How to get an accurate appraisal for your property

Suburb-wide medians are a useful starting point, but they will not tell you what your specific property is worth. The variables that move the needle, your street, your block, your aspect, your condition, your parking situation, your strata situation if applicable, require a genuine on-site assessment by an agent who knows Surry Hills transactions at a granular level.

A good appraisal should include:

  • A shortlist of genuinely comparable recent sales, not just the suburb median
  • An honest assessment of your property’s strengths and any factors that may limit buyer appeal
  • A recommended method of sale (auction vs private treaty) with clear reasoning based on your specific property type
  • A realistic price range based on current buyer depth, not aspirational figures
  • Guidance on any pre-sale preparation that would meaningfully improve your result

That last point matters more in the current market than it has for several years. According to the latest market analysis, buyers in 2026 are conducting more thorough due diligence and avoiding emotionally-driven bidding, meaning vendor preparation has a direct and measurable impact on sale price.

Source: HamKerr — Australian Auction Market Weekly Report 2026

What should you do next?

If you’re curious about your Surry Hills property’s value, whether you’re thinking of selling in the next few months or just want to understand where you stand, the best first step is a conversation with an agent who actually sells in the suburb.

Murray Property has an established track record of sales across Surry Hills and Darlinghurst. Nicholas Murray specialises in residential sales in both suburbs and can provide a no-obligation appraisal based on genuine comparable sales data and honest market assessment.

There is no cost and no commitment involved. Just a clear, data-driven picture of what your property could achieve in the current market.

Book your free Surry Hills property appraisal →

For a broader picture of current market conditions, read our Surry Hills Property Market Update for 2026.

And if you’re also considering selling your Darlinghurst property, our Selling Process Guide for Darlinghurst walks through exactly how we approach a sale campaign from start to settlement.

Data sources used in this article