Ensure you never miss an issue of the
real estate business bulletin
Sydney buyers snap up apartments

Sydney buyers snap up apartments

by Reporter 0 comments

Staff Reporter

The residential market in Sydney’s inner suburbs has bucked the trend with several new apartment developments being sold in quick concession.

Australand has announced the sale of 102 apartments at the group’s Discovery Point Wolli Creek development site, with over 80 per cent of the total sales result achieved in 24 hours of release.

The group’s executive general manager – residential, Rod Fehring, said the recent sales highlight the importance of suitable pricing in today’s market.

“With so much negative commentary about the residential market this result reconfirms the importance of ensuring that new products are developed with specific market segments in mind and with price points that meet consumer value expectations,” Mr Fehring.

“The bulk of the new housing is priced at or below $600,000, which represents the volume market in Sydney, with larger three bedroom homes also sold at prices up to $840,000 suggesting that we got the mix of dwelling types just about right.”

 

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Sydney buyers snap up apartments
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?