With Australian capital cities like Brisbane and Melbourne expecting an oversupply of new units in the next 12-18 months the hunger for a new unit in Sydney hasn’t reduced at all as hundreds of properties have been brought from the eastern suburbs to Epping on Saturday.
Projects Director David Milton of CBRE Residential who overlooked the Saturday’s launch of The Landmark which is a 46 floor residential tower in St Leonards said “We’ve been seeing a confidence in the off-the-plan market with strong sales across Epping, Parramatta and Double Bay,”
He went onto also state that “Of the 622 apartments in total released on Saturday across three developments, more than 400 had sold by the evening,”
Buyers in Double Bay in Sydney’s eastern suburbs were also quick to register interest in a boutique development of 37 apartments of which 25 had been sold by Saturday afternoon which included an 115 square metre, three bedroom apartment which went for a nice $2,895,000 and if you wanted to get your hands on a smaller one bedroom unit without parking in this block you would paid no less than $975,000.
Chinese developer Poly Real Estate saw a similar trend when more than 80% of 235 units in the first stage sale of Poly Horizon in Epping three tower project of 501 units sold on Saturday.
Marketing Director of Poly Philip Best said “ Interest from buyers was strong from the initial registrations and the large majority of the purchasers in Poly Horizon were local buyers and owner occupiers who were familiar with the convenient lifestyle offering of Epping as well as the outstanding uninterrupted views the project will offer,”
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