Off-the-plan new apartment launches going well in Sydney


New apartment sales remained strong in Sydney as a flood of off-the-plan homes hit the Sydney at the weekend ahead of the bumper spring season.

Major developers TWT, Iris Capital, Thirdi and Aqualand all opened their display suites to buyers with strong results.

TWT sold 70 per cent of its apartment project NewLife Bondi Junction in Sydney's eastern suburbs to mainly local owner occupiers. NewLife Bondi Junction's design is inspired by Oxford Street's sophisticated street style.

Prices start at $774,000 for 47-square-metre studios, while 192-square-metre penthouses were selling for more than $4.5 million.

<a href=TWT launches NewLife Bondi Junction." width="620" class="lazy620x0" src="src" /> TWT launches NewLife Bondi Junction. Supplied

"There is a significant increase in participation by downsizers and upgraders as opposed to investors," said Colliers International's David Chittenden, who handled the TWT sales.

"They have mature money – that is they are less concerned with hikes in interest rates, or less impacted by change in laws, for example the timing of stamp duty payment," he said.

"The market continues to be very strong particularly with long-term supply still very low."

Mr Chittenden said these cashed-up buyers were also not just looking for new apartments but medium-density housing such as townhouses and terraces that act as the "missing middle" between their palatial mansions and boutique penthouses.

Thirdi's strong sales of its Torrens title townhouses that is, strata-free units, at The Gentry, Alexandria, in inner-south Sydney, was an indication of that demand. Half of the 37 terraces sold over the weekend after 120 groups of buyers came to the launch on Saturday.

<a href=TWT launches NewLife Bondi Junction" width="620" class="lazy620x0" src="src" /> TWT launches NewLife Bondi JunctionSupplied

The Gentry, to be developed on former warehouse sites, will include designs from Alexandria's industrial past. Each 185 sq m unit, priced between $2.175 million to $2.295 million, will have a private rooftop garden and an outdoor BBQ kitchen.

Iris Capital also sold 17 out of 39 apartments at its new $70 million development Grand Bondi Junction also in Sydney's east.

The most popular apartments sold were two-bedroom units and the highest priced apartment was $2.5 million.

Aqualand also unveiled the display suite of its luxury project, the 129-apartment "Blue at Lavender Bay" in Milsons Point in Sydney's north. Results of sales are still pending.

Completions of new stock are at an all time high but are expected to come off the boil in coming years, recent JLL research shows.

Comments

Post a Comment

Popular posts from this blog

Parents of Student Murdered by Maintenance Man Sue Apartment Complex

He pleaded guilty to murder late last year, now the case of a maintenance worker who killed a Blinn student is back in court. The parents of 20-year-old Jenna Verhaalen are suing the Bryan apartment complex where she was killed. Verhaalen was strangled at the Autumn Woods Apartments in 2008, by 27-year-old maintenance worker Jeremiah Rosser . The suit claims Autumn Woods ignored complaints made about Rosser. Specifically, a complaint they claim Jenna made to Rosser's boss, when he entered her apartment while she was in the shower. The suit alleges the complex's negligence led to Jenna's death. Attorneys for Autumn woods said management had no reason to believe Rosser was a risk. However, that's not what the complex's corporate office told News Three in 2008. Back then, a spokesperson said Jenna complained to the maintenance supervisor about Jeremiah Rosser , but never filed a complaint with the office. Rosser quit his job at Autumn Woods several day
Read more

“Blacklist” star Megan Boone lists West Village apartment for $2.4M

Image
Megan Boone and her apartment at 302 West 12th Street (credit: NBC and BKR Partners) Megan Boone, who  plays FBI agent Elizabeth Keen on NBC’s crime thriller “The Blacklist,” has just listed her condominium at 302 West 12th Street for $2.4 million, per city records. (credit: BKR Partners) Boone bought the apartment in 2014 for $1.85 million. According to the listing, with Brian Kanarek of BKR Partners, the 837-square-foot unit has one bedroom and one bathroom. It overlooks tiny Abingdon Square Park, and has a large fireplace, soundproof windows, high ceilings, a walk-in closet and access to the communal landscaped roof terrace . Kanarek did not immediately respond to request for comment. (credit: BKR Partners) Per city records, Boone and her husband, artist Dan Estabrook , bought a townhouse in Carroll Gardens in March 2016 in an off-market deal. In addition to starring on “Blacklist” with James Spader, Boone has also appeared on “Law & Order: LA,” “Blue Bloods” and the film “St
Read more

Charlotte affordable housing forum raises possible solutions

There’s a big demand for more affordable housing in Charlotte, where rents and home prices have shot up much faster than wages over the past few years. Many of the apartments being built now target more affluent renters, waitlists for housing vouchers are long and starter homes are snapped up almost immediately. So why aren’t developers building more affordable housing ? That was one of the main questions at a candidate education panel hosted by the Greater Charlotte Apartment Association on Friday, where about two dozen candidates for Charlotte City Council turned out to learn some of the basics on a complicated subject. “ Affordable housing is one of the topics you’ll talk about a lot,” Bryan Holladay, who supervises the group’s government affairs outreach , told the candidates. The subject is an alphabet soup of acronyms (like NOAH, or “ Naturally Occurring Affordable Housing ”) and overlapping terms and definitions. Sometimes when people say “ affordable housing ” they mean go
Read more