Strata levies waived as riverside luxury beckons for first homebuyers
Kanebridge News
Share Button

Strata levies waived as riverside luxury beckons for first homebuyers

Ideally located between the city and Parramatta, these ready-to-live-in apartments are an attractive option to get a foot on the property ladder

By KANEBRIDGE NEWS
Fri, Feb 10, 2023 10:26amGrey Clock 2 min

First homebuyers can kiss strata levies goodbye for the first two years under a unique offering at One The Waterfront, a boutique luxury development at Wentworth Point. Developer Piety Group and agents Laver Residential Projects are offering all buyers free strata levies for the first two years of ownership, valued at about $11,000 in savings. 

As interest rates continuing to rise and trades still in high demand, it’s good news for those looking to enter the market.

Project director at Laver Residential Projects, Sam Elbanna, said the incentive, available via Kanebridge Finance, is to provide buyers with clarity and free up funds to protect their investment.

“Now buyers know they are covered and they can use the next two years to plough the money that would have gone to strata levies into their mortgages,” he said.

Apartments in One The Waterfront have been designed for good natural light, connection to the environment and cross ventilation

Overlooking Parramatta River, One The Waterfront offers one, two and three-bedroom apartments among leafy, thoughtfully designed landscaped gardens. The residences have been designed by Stanisic Architects with careful attention to light, ventilation and connection to the outdoors to create a true community environment.

With access to more than 5000sqm of green space, One The Waterfront offers amenities including walking tracks, barbecue facilities, exercise stations and children’s playgrounds. 

This is in addition to a fee free commercial gym, swimming pools, tennis courts and an outdoor rooftop cinema. But perhaps the most outstanding feature in this resort-style locale is Club One Lounge, an exclusive, discreet space with communal dining room and lounge, 20-person cinema and games room.

Apartments have quality inclusions and finishes

In addition to the Parramatta Ferry, public transport options include rail stations at Rhodes and Olympic Park to the city, as well as the planned Light Rail stop directly in front of the development linking locals to Parramatta. 

It’s a lot to offer on a site less than 15km from the city centre, Mr Elbanna said.

“One of my buyers was a developer of another project who is buying for his daughter,” Mr Elbanna said. “He said that there is simply no way this development can be replicated and sold at these prices again in such close proximity to the Sydney and Parramatta CBDs.”

One The Waterfront is now on sale. Email property@kanebridge.com.au to learn more about living in this community and claim free strata levies for two years, valued around $11,000 in savings.

  



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Property
The two Australian states where it’s a buyers’ market
By Bronwyn Allen 18/06/2024
Property
China’s Housing Market Woes Deepen Despite Stimulus
By REBECCA FENG 18/06/2024
Lifestyle
A ‘cheeky’ seat takes out the top prize at Australia’s Next Top Designers Awards
By KANEBRIDGE NEWS 17/06/2024
The two Australian states where it’s a buyers’ market

Property values have experienced strong growth around the country, but there are two highly desirable areas where oversupply is putting downward pressure on sales

By Bronwyn Allen
Tue, Jun 18, 2024 2 min

While property values are rising strongly in most markets across Australia, it’s a vastly different story in Victoria and Tasmania, new data from CoreLogic shows. Over the 12 months to May 31, the median house price lifted just 1.8 percent in Melbourne and fell 0.6 percent in regional Victoria. The median dipped 0.1 percent in Hobart and ticked 0.4 percent higher in regional Tasmania. This is in stark contrast to Perth, where values are up 22 percent, and regional Western Australia, up 14.8 percent; as well as Brisbane, up 16.3 percent, and regional Queensland, up 11.8 percent.

CoreLogic Head of Research, Eliza Owen says an oversupply of homes for sale has weakened prices in Victoria and Tasmania, creating buyers’ markets.

On the supply side, there has been more of a build-up in new listings than usual across Victoria, even where home value performance has been relatively soft,” Ms Owen said. Victoria has also had more dwellings completed than any other state and territory in the past 10 years, keeping a lid on price growth. The additional choice in stock means vendors have to bring down their price expectations, and that brings values down.”

Melbourne dwelling values are now four percent below their record high and Hobart dwelling values are 11.5 percent below their record high. Both records were set more than two years ago in March 2022. The oversupply has also affected how long it takes to sell a property. The median days on market is currently 36 in Melbourne and 45 in Hobart compared to a combined capitals median of 27. It takes 55 days to sell in regional Victoria and 64 days in regional Tasmania compared to a combined regional median of 42 days.

Changes in population patterns have also contributed to higher numbers of homes for sale in recent years. Since COVID began in early 2020, thousands of families have left Melbourne because working from home meant they could buy a bigger property in more affordable areas. While many relocated to regional Victoria, a significant proportion left the state altogether, with South-East Queensland a favoured destination. Meantime, Tasmania’s surge in interstate migration during FY21 was short-lived. Data from the Australian Bureau of Statistics shows the island state has recorded a net loss of residents to other states and territories every quarter since June 2022.

Record overseas migration has more than offset interstate migration losses, thereby keeping Victoria’s and Tasmania’s populations growing. However, the impact of migrants on housing is largely seen in the rental market, so this segment of population gain has done little to support values. Growth in weekly rents has been far stronger than growth in home values over the past year, with rents up 9 percent in Melbourne and 4.8 percent in regional Victoria, and up 1 percent in Hobart and 2.7 percent in regional Tasmania.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Money
A Killer Golf Swing Is a Hot Job Skill Now
By CALLUM BORCHERS 14/06/2024
Money
Quit Being a Cynic at Work. It’s Holding You Back.
By RACHEL FEINTZEIG 17/06/2024
Lifestyle
Aston Martin Refines Its Exotic Family Car
By Jim Motavalli 15/06/2024
0
    Your Cart
    Your cart is emptyReturn to Shop