The expectation at the start of the year was that there would be a spike in buyer sentiment with more positive news about inflation and interest rates, and buyers would come flooding back into the sector.
It’s not quite panned out that way. With a cut likely pushed into 2025 or further, the spike developers and project marketers were forecasting failed to materialize.
That being said, there was plenty of activity in Sydney’s off the plan apartment development space, far-reaching across the whole of the city.
Records were broken in Bondi Beach, while huge, suburb-shaping precincts are being delivered by Sekisui House Australia in Norwest and Deicorp in the Hills District.
Lendlease completed One Sydney Harbour in Barangaroo, home to Australia’s most expensive piece of real estate (a $140 million, three-level penthouse). Aqualand also welcomed buyers to its flagship North Sydney apartment development, AURA by Aqualand.
Top Spring Australia, as well as First Quadrant and Qualitas, have enjoyed success at each of their respective multi-stage developments. Top Spring’s The Newlands continues to break records in St Leonards, while First Quadrant and Qualitas quickly sold out the first stage of their Willoughby Grounds project, breaking apartment sale prices for the area in the process.
Developers are now waiting on the weather, preparing their marketing material during winter, waiting to push the go button come September and get their projects in market for the famous spring and summer selling seasons Sydney so famously enjoys.
We’ve taken a look at the best to come for the rest of 2024.
Who: Clutch
Where: 135 – 155 Curlewis St, Bondi Beach
What: Avra, Bondi Beach – 18 luxury apartments above retail
Clutch is set to make a big splash in the Eastern Suburbs market later this year.
As they approach completion of their luxury Bellevue Hill apartment developer MIRA Bellevue Hill, Clutch will launch Avra just 18 luxury apartments at 141-155 Curlewis Street, about 150 metres from Campbell Parade.
Each of the apartments, designed by PBD and with interiors by Woods Bagot, will have three bedrooms, except the sprawling four-bedroom penthouses. Apartment sizes start from over 170 sqm.
The apartments will sit above three new retail tenancies.
Who: Clutch
Where: 440 Edgecliff Road, Edgecliff
What: Margaux, Edgecliff – Eight luxury apartments
Clutch is planning to go back to back in the affluent East. They’re looking at launching Margaux, another luxe development in Edgecliff, around the same time as Avra.
Margaux will comprise just eight three-bedroom apartments, not far from Woollahra Village.
There’s a huge focus on the interiors at Margaux. Clutch has used Decus, a local interior design firm who has an enviable portfolio working on some of Sydney’s finest homes. Margaux will be the first ever mutli-residential off the plan apartment development Decus has worked on.
On offer will be four full-floor, penthouse-style apartments and four split-level apartments, each extending onto generously sized balconies or terraces, positioned to flow from primary living spaces and take advantage of the site’s northernly aspect.
A communal open space will include a pool, lounge and outdoor seating. CBRE is marketing both Avra and Margaux.
Source: Apartments.com.au