by Matthew Hyder, CEO
Creeping up on Sydney is a housing supply issue that nobody is talking about it. It hasn’t yet made the headlines, yet. And it’s not easy to spot. But when it hits the Sydney market from around 2021, it will place immense upward pressure on property prices. Any relief in housing affordability gained in recent years will quickly be eroded and the scenario for home buyers may be even worse than before.
The problem lies inside our government agencies – read on to find out more.
By Matthew Hyder, CEO Legacy Property
Consumer sentiment is a powerful thing in the property world. And right now we’re seeing signs that buyer confidence is returning. A late Winter spike in auction clearance rates in Sydney and Melbourne suggests buyers are coming back in numbers even before the Spring rush begins in earnest.
So does this mean the market has definitely bottomed out? Or are the media overdoing it on reports of a recovery, just as they have with their gloomy slump story of the past two years?
In my view, it’s a time to be optimistic. There are three critical factors driving an improvement in the market.
There is a lot of advice being dished out to first home buyers at the moment. Buy now. Don’t buy now. Jump on cheaper prices. What troubles me is that the advice assumes all first home buyers are coming into the market with the same set of circumstances.
Our experience tells us that they are anything but homogenous. Using our Caddens Hill development as a reference point, in this article I explore three major trends we’re seeing amongst different types of first home buyers.
By Matthew Hyder, CEO Legacy Property
The property market is on the nose right now. News headlines are negative. Crushingly negative. There is talk of settlement defaults, building downturns and tight credit. And, sure, prices have taken a big hit.
But, in our opinion, it’s not that bad. In fact, we think the market will recover fully and pretty quickly. Driving this view is one key insight that will help inform your property investment decisions in 2019.
It’s all to do with policy-driven decline vs. fundamental economic decline. Sounds technical I know. But stick with me, it’s pretty easy to get your head around.
The Sydney housing market is set to shift further in favour of buyers in 2019 as property prices continue to ease, providing significant opportunities for savvy investors and first home buyers.
After a decade of sustained and unprecedented growth, Sydney real estate prices retreated over the past 12 months as tighter lending conditions, the banking royal commission, sluggish wage growth and less demand from investors and foreigners dented the market.
In 2018, Sydney remained Australia’s highest-priced capital city for property, staying well ahead of Melbourne, Brisbane, Adelaide and Perth. This came despite cooling market conditions with prices dipping to a median $1,101,532 in September, representing a 6.5 per cent annual fall.
Seasons can play a significant role when it comes to house prices and summer is no exception.
Traditionally, the sunny months of summer have been considered an ideal time for buyers to snag a bargain, with house hunters facing less competition than in spring, autumn and winter.
This long-held wisdom is now backed up by research, with Monash University1 showing that house prices in Sydney – unlike many other Australian capital cities – tend to spike in the cooler months.
The research, which examined seasonality in property prices across Australia, found that in Sydney July tended to be the most expensive month to buy a house, while June was priciest for units.
Legacy Property is excited to announce that it has entered into a development agreement with the Illawarra Coke Company (ICC) for its Corrimal Coke Works site located in Wollongong, in the Illawarra region just south of Sydney.
Legacy Property’s master-planned residential community in Western Sydney, Caddens Hill, has hit another milestone with the first occupants set to move into the estate this month.
The award-winning development, located in the Penrith region, will welcome the residents in time for them to enjoy spring at Sydney’s newest suburb close to amenities, transport and services.
Situated on Caddens Road and O’Connell Street, just of the M4, Caddens Hill is a short distance from key infrastructure such as Western Sydney University, Nepean Hospital and Penrith City.
In the high-speed internet era, it is increasingly tempting for vendors to sell their properties agent-free in order to save thousands of dollars in fees and commissions.
That’s because rapid advances in technology, such as the advent of social media platforms, have made it much easier for home owners to sell without the need to use a real estate agent.
In today’s competitive real estate market, saving for a first home means being money smart. You need to know how to balance the needs of daily life with your future goals and aspirations.
Whilst you can start saving for a home at any stage of life, it certainly helps if you start early. Helping your kids develop good financial habits is an essential life lesson that will make it easier for them to make big decisions later in life, like buying a home.
Legacy Property are to be highly commended on a very targeted and well thought out marketing campaign for their Caddens Hill Project.
From the outset of the campaign the marketing team understood their brief, identified their target market and were able to adapt their campaign to the market trends and demands.
It’s little surprise that Sydneysiders have long considered spring a great time to sell property. The weather impacts home sales in all sorts of ways and spring is a time of year when the sun is shining, the grass is green and the cold winter months have been left behind.
In 2017, spring sales were more muted than usual due to a range of factors including regulatory changes, a conservative consumer outlook and less demand for houses.
With spring around the corner more properties are set to hit the Sydney market, resulting in opportunities for both sellers and buyers over coming months.
For sellers, it’s no secret that spring is traditionally the best time to list houses for sale or auction, but this year vendors will likely have to work harder given cooler market conditions.
Spring is the most competitive time of year when it comes to buying property, meaning house hunters need to do everything they can to get value for money.
One strategy an increasing number of Australians are employing to get an edge when it comes to purchasing property is to use a buyer’s agent or advocate.
With an increase in property supply hitting the Sydney market in 2018, tenants now have more choice when it comes to choosing rental properties that suit their needs and budget.
While that’s good news for renters, additional housing stock can throw up extra challenges for landlords when it comes to finding a tenant.
As competition for tenants heats up across the city, here are some tips to get your property leased.
Whether it’s a dog, a cat or something more exotic, millions of Australians are proud pet owners.
But despite the nation’s love affair with pets, it’s common for them to be banned from rental accommodation across the country in strata by-laws and tenancy agreements.
This can leave tenants in awkward situations, caught between a need to secure rental accommodation and loyalty to their faithful friends.
There are also issues for landlords, some of whom are currently in the firing line of proposed legal changes that would make it harder for them to refuse requests by tenants to have pets.
The introduction of Airbnb has been a boon for tourists, but the situation is more complicated for landlords. Whilst for some landlords it has provided an alternative method for letting their property, for others who don’t want their tenants subletting via Airbnb it presents new challenges.
Article from ‘Hills Shire Times’ – Katrina Creer – 11 May 2018
A BOUTIQUE estate in Sydney’s growing northwest, set to be released onto the market this month, has already attracted more than 500 registrations of interest.
The 12ha site located on Terry Rd, Box Hill will comprise of 190-lots, most of which will offer a district outlook.
Legacy Property has taken on the project described as `an intimate masterplanned community’ and rebranded it as Box Hill Heights. The original developers of the estate, which had been called Halcyon Rise, were placed into liquidation.
Residential property developer, Legacy Property today announced the acquisition of a 12 Ha residential development site at Box Hill in the rapidly growing North West Priority Growth Corridor.
Legacy Property has taken over the residential development site, previously known as Halcyon Rise and will re-brand the site as Box Hill Heights.
The new masterplanned community, located on Terry Road, Box Hill includes 190 residential lots.
Despite property prices easing in real estate hotspots such as Sydney and Melbourne, it remains a challenging environment for home loan borrowers in 2018.
Each year mortgage brokers help thousands of Aussies find home loans that suit their particular needs and financial requirements.
With more than 4000 mortgages on the market, using a broker can be a great way to save serious money on your home loan.
That’s because brokers have regular contact with a wide variety of lenders, meaning you are effectively getting access to many lenders and their loan options.
But as with any important financial decision, it’s important to use a broker who has the requisite skills and experience to give you the best possible outcome.
For many first home buyers, mortgage lenders insurance can be a necessary step to make their property dream a reality.
However, recent research shows that the term “mortgage lenders insurance” is one of the most commonly misunderstood phrases used in the property market.
With Sydney retaining the title as Australia’s most expensive property market, investors and house hunters city-wide are searching for affordable real estate.
Box Hill, located just 45 kilometers north west of Sydney’s CBD, could be the answer.
Situated within The Hills Shire Council, Box Hill was once semi-rural. But that’s all changed as the area becomes increasingly popular with families, investors and first home buyers.
Box Hill is currently experiencing a boom, with another 30,000 residents forecasted to be living in the precinct by 2036.
When it comes to picking the best time to sell your property, there are no hard and fast rules. However, there are pros and cons to each of the major selling seasons you need to consider.
With that in mind, here are some tips for vendors who are trying to figure out the best time of year to list their property on the market.
So you’ve decided to sell your property. Now comes one of the biggest choices you’ll need to make – auction or private treaty.
Both selling methods have their pros and cons, but Benjamin Martin of Belle Property Balmain says making the right call depends on your particular circumstances.
Sydney’s housing market has experienced another standout year in 2017 with property prices, auction clearance rates and housing lending remaining robust.
“Home prices are growing at a slower pace in many markets, but back to more sustainable levels. Home affordability will start to improve again in major cities.”
The Sydney property market is set to shift in favour of buyers in 2018 as house price growth adopts a more moderate pace across the city following a sustained period of double-digit rises.
That’s the view of several industry experts who predict Sydney’s record-breaking house price growth will ease over the next 12 months, improving opportunities for house hunters.
SQM Research, for instance, said it was likely that the rate of property price increases in Sydney would slow early in 2018, before recovering later in the year as lending to investors increased.
“Our Sydney forecast for this year of price growth of 11 per cent to 16 per cent will not be reached and a more moderate 6 per cent to 8 per cent increase in prices can be anticipated,” SQM Research director Louis Christopher said recently.
Christmas is usually the time of year when Australians like to take a break from work and spend well-earned time off with family and friends.
But it can also be a great period for buying property, if you go about it the right way.
For house-hunters keen to make the most of the festive season, here are some tips to get the best out of what is often considered the property market’s low season.
Spring is under way, marking the start of Sydney’s busiest property trading season.
Over the past five years, robust listings and strong auction clearances have set a high bar for the annual spring selling season, which has helped push the city’s property prices to record levels.
However, there are signs that relief for buyers could be coming, with data from real estate data provider CoreLogic showing an easing of prices in the harbour city, for the first time since 2015.
There’s no doubt that lenders have tightened their mortgage purse strings following new rules brought in earlier this year to combat so-called “heightened risk” in the housing market.
The rules, announced recently by the Australian Prudential Regulation Authority, especially impact those borrowers considering buying a house with an interest-only loan.
That’s because the APRA-mandated changes dictate that banks must limit interest-only lending to 30 per cent of total new residential mortgage lending.
There are early signs that interest from foreign buyers in the Sydney property market may be easing, driven by new NSW government laws, and a crackdown by China on overseas investment.
Legacy Property CEO Matthew Hyder said foreign, especially Chinese, buyers looked to have toned down their enthusiastic activity in the Sydney market.
“There was a big push before June 30 for foreign purchases to settle under the old legislation in order to avoid the added stamp duty and land tax costs,” Mr Hyder said.
“We have seen a meaningful reduction in demand from the Chinese for off-the-plan apartments. This trend is positive for local buyers because it should open up more opportunities for them to purchase in Sydney, particularly when it comes to apartments.”
It wasn’t just the big firms that did well at the awards. Independent developer Legacy Property was proud to take out the High-Rise City Apartments Development award for Capitol at Bondi Junction.
The high-rise award, which recognises residential developments that are more than five storeys with a minimum density of 30 dwellings per site hectare, pointed to the project’s unique design and integration into its surrounds.
Choosing the right real estate agent is one of the most important decisions to make when it comes to selling your property. Your agent will be in charge of your sale including negotiating settlement, legal terms, marketing and, of course, coordinating the auction. Here are four questions to ask yourself when choosing your agent.
It’s the bold vision for Sydney that promises to transform the city’s west.
The 40-year masterplan, named Towards our Greater Sydney 2056, wants to reimagine the city as three great urban hubs to boost growth and maximise livability, productivity and sustainability across Sydney.
The solution to the housing affordability problem is undoubtedly complex, but one big contributor to the challenge is clear – there is simply insufficient supply to meet demand.
When it comes to Sydney’s skyrocketing house prices, much of the focus is on owner-occupiers. However, they’re not the only ones impacted by the booming market.
As house prices continue to surge across Sydney, a growing number of home buyers are competing to find real estate that combines affordability with amenity.
Penrith, in Sydney’s west, is one market that has emerged in recent years as an exciting location for families looking for relatively affordable Sydney property, with lifestyle upside.
With Australia’s housing market continuing to tighten in 2017, a growing number of home buyers are getting creative with ways to break into the property market.
For many Aussie families, the great Australian dream used to be pretty simple – a freestanding home in the suburbs on a quarter-acre block with a big backyard. However these days, it’s not that straightforward.
When it comes to building a new home, project homes have become a very popular option amongst Sydney-siders. Knowing what to expect and how to navigate the process will help you secure the house of your dreams.
Whether you’re building a new home or undertaking renovations to an existing dwelling it makes sense to look for ways to increase the energy efficiency of your project.
With Australian homes responsible for about one-fifth of the nation’s greenhouse gas emissions1, boosting your project’s eco-friendly credentials is good for the planet.
With Australia’s property market continuing to boom in 2017, an increasing number of homeowners are choosing to renovate their existing dwellings rather than up size to a new house. Let us help you with some tips on tradies!
Legacy Property’s newest residential community – Caddens Hill near Penrith – will provide 550 new homes in Sydney’s fast growing west.
If you’re thinking of selling your house in early 2017, summer is a great time to get it into shape. Make the most of your efforts with these tips from industry experts.
Leading commentators predict another strong year ahead for Sydney property in 2017 with the average house price to reach $1,065,000.
Sydney property developer Legacy Property has followed the strong investment in Western Sydney, buying a site for 500 homes at Caddens, east of Penrith.
Residential property developer Legacy Property has bought a residential development site in Sydney’s west for more than $65 million. The 28.5ha parcel in Caddens will become the “Caddens Hill” residential community, planned to host 500 residences.
The WestConnex motorway is the largest infrastructure project of its kind in Sydney since the construction of the iconic Sydney Harbour Bridge in the 1930s.
The project, often described as the “missing link” in Sydney’s road network, commenced in March 2015 and is due for completion in 2023.
Simply put, compulsory acquisition is when an authority, usually a state government or the Commonwealth, acquires privately owned land or property.
The reason the Commonwealth can forcibly take your property is that it has the legal right under Section 51(xxxi) of the Constitution of Australia, while the states are similarly empowered under relevant state legislation.
Spring has always been considered a good time to sell a property. Everything is in bloom and looks brighter. But spring can also attract a flood of properties onto the market, making it harder to catch a buyer’s eye.
The Aussie dream of owning a big home with a picket fence on a quarter-acre block is fast becoming out of reach for most, so smaller apartment living is on the rise. Are you embracing the ‘tiny house movement’?
Australia certainly faces a number of speed bumps as the economy continues its ongoing transition to non-mining activities. In the face of falling commodity prices and mining investment, the focus is shifting towards housing construction and the services sectors. So what does this mean for property prices?
THE Hills’ newest housing development, Greenway, is receiving a lot of interest with the first-stage releases already sold out. “We plan to build between 600 and 700 homes on 56ha of land which has the beautiful Bells Creek running through it.”
It’s a situation most landlords hope to avoid but there may come a time when you find yourself needing to evict a tenant. Perhaps they’ve failed to pay the rent or caused damage to the property, or maybe you want to renovate or sell. Whatever the driver, being prepared and having a good understanding of the laws and processes of tenant eviction can save you time, money and stress.
Want to raise the rent on your investment property but are worried about the repercussions? To earn a healthy cashflow you need to strike the right balance between charging a good level of rent and being able to attract and keep tenants.
One of the first things you need to do when you buy an investment property is decide who’s going to manage it. Most investors like to use professional property managers but some choose to manage the property themselves. In this article we examine some of the pros and cons of each approach.
The Sydney property market was hot in 2014 and the forecast is that after a sweltering start to 2015, temperatures will start to cool down. But two industry experts encourage buyers not to be put off and predict sales will still be impressive.
For some time we’ve been hearing that first home buyers are being squeezed out of the Sydney real estate market. However, revised data from the ABS reports that first home buyers, and particularly first home investors, make up almost 20 per cent more of new sales than previously reported. To get a foot in, buyers will invest in one area whilst they continue to rent in another, foregoing the First Home Owners Grant.
2014 was a stellar year for the Sydney property market pushing the average price for a number of suburbs over the million dollar mark. The Inner West, Hills District and St George regions were home to a lot of the new entrants. Read more to see if your suburb made the list.
Investing in residential property has always been a popular option for Australians. Add low interest rates and a buoyant market to the mix and it’s no surprise that it is more popular than ever. But not everyone is thrilled about what’s going on in the property market including the RBA. In this article we examine the potential for stricter lending practices to limit risky investor lending.
A set of 11 house and land packages will soon be released at Greenway, a master planned community in the heart of North Western Sydney’s new growth centre, Marsden Park. These architecturally-designed homes are part of The Greenway Collection and will be constructed by renowned builder Rawson Homes. All properties are double storey with four bedrooms, two bathrooms and a single garage.
Buying a house and land package simplifies the process of getting a brand new home. It also offers a number of attractive features, making it a good option for both owner-occupiers and investors. So whether you want to build your dream home, or buy an investment property that is low maintenance and appealing to tenants, it’s worth taking a closer look at house and land packages.
Buying off the plan can be very rewarding – you get a brand new property and you get to delay your payments. But of course, it has its risks too. In this article we explore the pros and cons of buying off the plan to help you make sensible decisions.
When it comes time to presenting your home for sale, the number one tip from Kate Bonselaar, a senior stylist at Advantage Property Styling, is to “look at your property as a product to be marketed, as opposed to your home”. To help you step back from your home and prepare it as a house for sale, we look at five key areas to focus on.
Have you ever found yourself daydreaming about the idea of making money using the buy, renovate and sell strategy? Renovating to sell can definitely make you money, but it’s never a sure thing. This article looks at what you should and shouldn’t do to increase your chances of success.
Auction or private treaty? It’s one of the first questions you need to answer when it comes to selling your property. This article explores the pros and cons of auctions as well as property marketing and what to do if your house won’t sell.
When it comes to property investing, depreciation is the icing on the cake. But every year, thousands of dollars go unclaimed by investors who overlook the benefits available.
When it comes to property investing, depreciation is the icing on the cake. But every year, thousands of dollars go unclaimed by investors who overlook the benefits available.
The extended Easter Anzac period was a great opportunity for Australians to take some time off work and head away on holidays. Whilst enjoying the last of the summer sunshine, many would have been doing the sums on buying a holiday home. On first glance it seems like a great idea, but does this type of investment make sense?
【看中國訊】悉尼西北增長走廊Marsden Park的首個總體規劃住宅區Greenway上周宣布正式開工。 Greenway去年底首次向市場公開發售首批100多套買地建房套餐，短短兩個月全部搶購一空。 開發商Legacy Property的首席執行官海德爾（Matthew Hyder）在開工儀式上宣布，Greenway 的建設進入了一個令人振奮的新階段。
THE Hills’ newest housing development, Greenway, is receiving a lot of interest with the first-stage releases already sold out.
“THIS is planning how it should be done” is how Riverstone MP Kevin Conolly described Greenway, the area’s newest residential subdivision, as major civil engineering works on the Richmond Road site got under way last Wednesday.
THE Hills’ newest housing development, Greenway, is receiving a lot of interest with the first-stage releases already sold out. Developers Legacy Property launched the project at Marsden Park last week.
Developed by Legacy Property, the first and second stages of Greenway have been snapped up by both first-home buyers and upgraders. There will be further land releases at Greenway in the near future.
Property buyers can expect the Sydney market to remain buoyant in 2014 following guidance from the Reserve Bank of Australia (RBA) that interest rates are likely to remain low at around 2.5% for the rest of the year.
Picking the next ‘boom’ opportunity in the Sydney property market is no mean feat. We take a look at the views of Chris Gray from Your Empire and John McGrath from McGrath for their tips on where to invest in 2014.
American economist Harry S Dent Junior threw a cat amongst the pigeons last month when he declared that the Australian property market was a bubble set to burst. Is Harry right or has he missed the point about the Australian market?
“Cranes are dotting the skyline in North Sydney’s CBD, with a significant number of developments and strong sales pointing to residential interest in the area once again.”
With the first stage sold out, the next stage at Greenway (Release 2A) is now available for viewing. All lots will be offered as house and land packages.
Fixed-rate mortgages are having their time in the sun as historically low interest rates have encouraged property owners to lock in their home loans.
Many buyers, including first home owners, are finding it hard to find suitable housing at a price they can afford. Fortunately, relief is being provided by new property growth areas in Sydney’s North West and South West.
More than forty families are on their way to creating their dream homes after snapping up the first house and land packages offered at Greenway – the newest residential community in Sydney’s North West.
The first release of house and land packages at the Greenway in Sydney’s north west proved to be a success with 80% of packages snapped up over the weekend.
‘An increasing number of Australian developers are also opting for communal rooftop facilities as a way to differentiate their projects from the competition’
“Legacy Property launched Greenway at Marsden Park in Sydney’s north-western fringe on Saturday. Of the 50 house and land packages available, 80 per cent sold.”
Sydney housing and apartment developer Legacy Property launches 50 house and land packages at Greenway, its new estate in Marsden Park.
People camped out overnight for the chance to buy a house and land package at Greenway.
The Greenway Sales Centre is now open!
7 days a week from 10am to 5pm each day.
Come along and preview the range of house and land packages soon to be released.
Legacy Property launched Greenway at Marsden Park in Sydney’s north-western fringe on Saturday. Of the 50 house and land packages available, 80 per cent sold.
Sydney’s property market looks set to continue its long run of staggeringly high auction clearance rates.
Auction clearance rates in Sydney have climbed to staggering highs of around 80 per cent in recent months as eager buyers return to the market.
Legacy Property’s latest development, Capitol at Bondi Junction, sold out in record time when it was opened to buyers last month.
Interview with CEO Matthew Hyder on the Sydney property market by China Vision Times 看中國.
CEO Matthew Hyder interviewed on the Australian property industry.
Capitol at Bondi Junction, has sold 91 out of 93 apartments within two weeks.
It took just four hours for 90 yet-to-be-built apartments to sell in Bondi Junction.
Capitol has shown just how popular the area is to new-home buyers.
Legacy’s team of 50 lawyers and agents made a sale every four minutes at the opening of Capitol in Bondi Junction.
Legacy Property secured a sale every four minutes in their Capitol launch.
“Legacy is continuing to grow from strength to strength and I am delighted with the success of all our developments to date” Matthew Hyder CEO
On Saturday property developer Legacy Property sold 90 off-the-plan apartments.
Project marketers say the shock off-the-plan near-sellout last weekend of the 20-storey tower Capitol is an encouraging sign.
‘It was a four-week campaign and we received 3000 inquiries and had over 600 inspections in the display suite before the launch’
sat & sun 12pm – 4pm
mon – wed 1pm – 4 pm
253 Oxford St Bondi Junction
REGISTER NOW FOR A SPECIAL PREVIEW INSPECTION OR
call 1800 66 33 95
‘Legacy Property has unveiled a new 20-storey residential tower development in Bondi Junction after receiving Development Approval last month.’
Legacy Property recently recieved DA approval for 93 apartments in its latest project, Capitol.
Legacy Property’s latest boutique project on the Northern Beaches is now fully sold.
The 104-apartment, 11-storey Montrose, is currently under construction.
The Department of Planning has released West Schofields for Precinct Planning.
Demolition work began this week to allow construction of Legacy Property’s $70-million Montrose project, located at 239-247 Pacific Highway, North Sydney.
Montrose is the latest development to start construction following a successful sales campaign by Colliers International… With more than half of the 104 luxury apartments sold, builder Hindmarsh Construction Australia has embarked on demolition works this week with construction due for completion in mid-2014.
With parklands, shopping centre, cycleways, village green and playground, it’s the little things that make Greenway at Marsden Park so special.
Every apartment inspires a living environment that seamlessly blends open interior spaces and cascading natural light flowing to broad balconies encompassing glorious Harbour and District views. Quality and style meet natural beauty on every level.
As Bondi’s most prestigious new place to call home, Capitol adds a sophisticated new dimension to luxury apartment living.
Rooftop cinema added as appealing touch for Sydney residences
A new North Sydney residential development has incorporated a rooftop cinema and garden, a trend popularised in Melbourne.
City Wants a Fun Reputation
A revitalisation effort is attracting more residents… One developer making inroads in the area is Legacy Group, which is marketing its Montrose development of 104 apartments.
Democratising the rooftops as high-rise penthouses become passé
The rooftop of early apartment complexes were once home to a simple dreary washing line, but now what’s on the rooftop is almost as important as what is in the newly completed apartment.
Creative ‘outdoor rooms’ will win over buyers this summer.
‘Long, warm nights and laid-back afternoons. Whether it’s barbecues on a Saturday afternoon or reading the paper with a good coffee on a Sunday morning, Sydney’s temperate climate is synonymous with outdoor living…
Alceon has formed a joint venture with developer Legacy Property to build 470 apartments in Meadowbank in Sydney. The 1.6-hectare site is across the water from the Rhodes peninsula which has seen a surge of recent apartment development.
Gen Y wade into property game
“Montrose has been popular with a wide cross-section of investors. Of the 104 apartments, 40 per cent have already been sold, the majority being studio and one-bedroom units which have gone to investors.”
‘Apartments are downsizing in the name of affordability’
‘Small, but perfectly formed – that’s becoming a mantra for developers… Shared green areas and facilities are increasingly being provided to give residents more room to play beyond their units. Colliers… marketing the 104-unit Montrose in North Sydney, with studios from 41 square metres and one bedrooms from 48 square metres.’
One project, the Montrose development in North Sydney (pictured below), which features a rooftop cinema, sold 25 apartments off the plan last weekend, six of them to first-home buyers in a pre-launch VIP sale…. The official launch of Montrose will be this weekend.
$70 million proposal for CBD gateway
“A proposed $70 million luxury apartment block, branded the ‘‘gateway to North Sydney’’, is one of a new breed of developments aimed at increasing density in and around the CBD.”
“MANY first home buyers defied the pundits and went out looking for new or off-the-plan apartments at the weekend in readiness for the $15,000 government grant that starts today.”
“Residential developer Legacy Property is among numerous developers launching projects to coincide with the NSW government’s $15,000 handout to first-home buyers who buy new homes.”
“Montrose, a new $80 million 104-apartment block being sold off the plan from next week, is billed as the new gateway to North Sydney”
A PROPOSED $70 million luxury apartment block, branded the ‘‘gateway to North Sydney’’, is one of a ‘‘new breed’’ of developments aimed at increasing density in and around the CBD.
Legacy Property is pleased to announce the appointment of Mark Maryska as Senior Development Manager. Mark, who has an 18-year career in the property development and construction industry, was most recently the General Manager (NSW Developments) for Laing O’Rourke Australia.
GreenWay is currently being masterplanned and expected to be launched in 2012. Legacy Property is committed to ensuring that GreenWay is a residential community offering a wide range of lifestyle choices for future residents.
Sydney’s first Greg Norman designed championship golf course has recently been completed adjoining GreenWay. 14 of the 18 holes are fully established with the remainder to be finished over the next months.