Western Sydney apartments on the market with highly desirable defects insurance
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Western Sydney apartments on the market with highly desirable defects insurance

Ophora at Tallawong is one of the most affordable developments to come with coveted latent defects insurance

By KANEBRIDGE NEWS
Mon, Feb 19, 2024 3:39pmGrey Clock 2 min

Blacktown Council’s first apartment development with 10-year Latent Defects Insurance (LDI) went on the market on the weekend. 

Apartments at Ophora at Tallawong are being sold off the plan with LDI, which provides insurance for defects for up to 10 years after construction is complete. According to SHC Insurance Brokers, Ophora is one the city’s most affordable developments to come with the new LDI. It is a key part of the NSW Building Commission’s strategy to give buyers assurance that the property they are purchasing meets the highest standards.

“Gaining LDI is no mean feat,” said SHC Insurance Brokers founder Stefan Hicks. “It’s offered selectively to developers and builders with a quality building history, and it requires both parties to employ an independent inspection service throughout construction. 

“While this insurance is well-established around the world in about 40 countries, in Australia we’re typically seeing high-end buildings covet LDI. The fact that Ophora has joined this exclusive list of quality-assured builds is a coup for entry-level home buyers.”

But it is not the only aspect of this mixed use development that makes it outstanding. 

Ophora will have landscaped gardens and communal spaces for residents

When completed later this year, Ophora will include 81 one, two and three-bedroom apartments aimed at attracting a wide range of residents, from investors and couples to families and downsizers. Designed by Architex, the concept for five-storey $50 million development is holistic, with attention given to sustainability and liveability in a village environment. Features include beautifully landscaped gardens, EV charging stations, ground floor apartment courtyards and a stunning rooftop terrace. 

Internally, residents will have access to high speed FIBER internet and video-intercom systems ideal for working from home undisturbed.

Positioned on a corner block, the site enjoys easy access to public transport, including a bus station a two-minute walk away and the new Tallawong metro station and Schofields train station less than 2km away.

Rooftop terraces will allow residents to enjoy the surrounding views in comfort.

Given the level of interest expressed on the weekend, the development is already beginning to resonate with buyers.

Prices start from $475,000 for a one-bedroom apartment, $625,000 for two-bedroom and $745,000 for a three-bedroom home.

Development manager for KDMC Ronnie Rahme said Ophora not only  represented value for money, it offered families and first homebuyers the chance to live in a landmark development.

“We’ve been determined to deliver affordable luxury apartments built to an outstanding standard with additional peace of mind to buyers by providing the highly-sought-after LDI,” he said. 



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11 ACRES ROAD, KELLYVILLE, NSW

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Winning neighbourhoods where home values rose most in FY24

We reveal the No. 1 areas for price growth in each capital city

By Bronwyn Allen
Thu, Jul 18, 2024 3 min

Home values across Australia rose by a median 8 percent in FY24, delivering the equivalent of $59,000 in new capital growth to the two-thirds of the population that owns a home, according to CoreLogic data. Investors received total returns of 12.2 percent over the year, including capital gains and gross rental income.

Very tight supply and demand in most capital cities except Melbourne and Hobart was a significant driver of the capital growth, with the smaller and more affordable capital cities of Perth, Brisbane and Adelaide experiencing the most price appreciation over the year. A lack of properties for sale trumped the usual dampening effect of higher interest rates.

As usual, some areas outperformed their city’s median growth benchmark. Here are the top SA3 areas for capital growth in each capital city of Australia in FY24. SA3 areas are large suburbs, or districts incorporating clusters of suburbs, with more than 20,000 residents.

 

Sydney

Home values across Sydney rose by a median 6.3 percent in FY24. The No. 1 area for growth was Mount Druitt. Its median value rose by 13.96 percent to $859,939. Mount Druitt is located 33km west of the CBD. It incorporates the suburbs of Mount Druitt, Ropes Crossing, Whalan and Minchinbury. The Mount Druitt community is very multicultural with almost one in two residents born overseas. It is home to many young families, with the median age of residents being 33 compared to the NSW median of 39.

 

Melbourne

Home values across Melbourne rose by a median 1.3 percent in FY24. The top area for capital growth was Moreland-North with 4.71 percent growth. This took the district’s median home value to $746,488. Moreland-North includes the suburbs of Hadfield, Pascoe Vale and Glenroy. It’s a multicultural community with a particularly large contingent of residents with Italian ancestry. One or both parents of 66 percent of residents were born overseas, according to the 2021 Census.

 

Brisbane

Home values across Brisbane rose by a median 15.8 percent in FY24. The No. 1 area for growth was Springwood-Kingston in Logan City. Its median value swelled by 25.55 percent to $710,569. Springwood-Kingston is approximately 22km south of Brisbane CBD. It incorporates the suburbs of Springwood, Kingston, Rochedale South and Slacks Creek. It is a multicultural community with one or both parents of 55 percent of the residents born overseas, according to the 2021 Census. More than 15 percent of residents have Irish or Scottish ancestry.

 

Adelaide

Home values across Adelaide rose by a median 15.4 percent in FY24. The best area for capital growth was Playford in Playford City. Its median value soared by 19.94 percent to $530,991. Playford is approximately 40km north of Adelaide. It incorporates the suburbs of Elizabeth Downs, Elizabeth Grove, Angle Vale and Virginia. It is home to many young people under the age of 40. The median age of residents is 33 compared to the state median of 41.

 

Perth 

Home values across Perth rose by a median 23.6 percent in FY24. The No. 1 area for growth was Kwinana in Kwinana City. Its median value skyrocketed by 33.19 percent to $618,925. Kwinana is approximately 37km south of Perth CBD. It includes the suburbs of Leda, Medina, Casuarina and Mandogalup. Henderson Naval Base is located here and there is a significant community of servicemen and ex-servicemen living in the area. It is home to many young families, with the median age of residents being 33 compared to the state median of 38.

 

Canberra

Home values across the nation’s capital rose by a median 2.2 percent in FY24. The best area for capital growth was Weston Creek. Its median value rose by 5.24 percent to $937,740. Weston Creek is approximately 13km south-west of the CBD. It includes the suburbs of Weston Creek, Holder, Duffy, Fisher and Chapman. Approximately 43 percent of residents have a bachelor’s degree, which is on par with the ACT median but much higher than the national median of 26 percent. Household incomes are about 35 percent higher than the national median. Almost one in five residents work in government administration jobs.

 

Hobart

Home values across Hobart fell 0.1 percent in FY24. The top performing area for capital gains was Sorell-Dodges Ferry with 2.78 percent growth. This took the area’s median home value to $615,973. Sorell-Dodges Ferry is approximately 25km north-west of Hobart. It incorporates the suburbs of Richmond, Sorell, Dodges Ferry, Carlton and Primrose Sands. The area has a large community of baby boomers and retirees, with the median age of residents being 43 compared to the Australian median of 38.

 

Darwin

Home values across Darwin rose by a median 2.4 percent in FY24. The No. 1 area for growth was Litchfield. Its median value moved 3.21 higher to $672,003. Litchfield is about 37km south-east of Darwin and includes the suburbs of Humpty Doo, Acacia Hills and Southport.  It has a high proportion of middle-aged residents, with the median age being 39 compared to the territory median of 33. About 12 percent of residents are Indigenous Australians. The biggest industries are government administration and defence. Median household incomes are about 35 percent higher than the national median.

 

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.

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