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Off-the-plan market

December 2024

The luxe apartments taking over David Jones’ former flagship store

Cbus Property’s redevelopment of the former department store at 111 Castlereagh Street is nearing completion and is about to transform Sydney’s CBD.

  • Updated
  • Nila Sweeney

August 2024

Tom Trbojevic and his mother Melissa are among those suing a developer for allegedly breaching a contract to build them off-the-plan homes.

NRL superstar tackles developer over off-the-plan homes letdown

Tom Trbojevic, known as Tommy Turbo, said he was devastated that his parents were now priced out of their dream home because of a loophole in conveyancing laws.

  • Campbell Kwan

May 2024

CBA to accept $10k deposits to speed up off-the-plan construction

Commonwealth Bank will allow $10,000 deposits to be viewed as 10 per cent deposits on certain projects to make it easier for developers to get construction financing.

  • Campbell Kwan

October 2023

AFR

Luxury off-the-plan makes a comeback as property prices rise

Ten ways to ensure your apartment deal doesn’t leave you out of pocket and is delivered on time.

  • Duncan Hughes

September 2022

The six-level development is due to be completed at the end of 2023.

Investor snaps up entire Sydney apartment development

All 43 apartments in the $60m project in Marrickville have been bought off the plan by a portfolio investor pursing a build-to-rent strategy.

  • Larry Schlesinger
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May 2021

The Tree Tops Lane Cove development was sold out in record time at record prices amid high demand for bigger apartments and town houses.

Buyers eye suburban off-the-plan projects

Sentiment towards off-the-plan developments is rebounding, lifted by generous government incentives.

  • Nila Sweeney

October 2020

Incentives spur buying boom in Sydney project

Government incentives and COVID-19 creating desire for the perfect home are driving sales of a new development in Sydney's south.

  • Miranda Ward

July 2020

One in 10 off-the-plan apartment sales collapse

A large number of off-the-plan buyers are walking out of their apartment purchases despite risking losing tens of thousands in deposit.

  • Nila Sweeney

May 2020

Luxury apartments defy downturn

The Sydney-based developer defied the lockdown gloom by racking up $63 million in sales of luxury apartments, including three penthouses.

  • Nila Sweeney

Mirvac plans slow return to the workplace

Mirvac topped out its largest residential project – the Pavilions in Sydney's Olympic Park – but says it will take its time bringing its remote staff back into the workplace.

  • Nila Sweeney

April 2020

Western Sydney apartment site sold for $36 million

A site has approval for 300 apartments spread across eight buildings ranging from three to five storeys. It was sold despite the current shutdown.

  • Nila Sweeney

March 2020

Stephen Abolakian of Hyecorp.

Developers start stockpiling as virus worsens

Property developers are reassessing their contingency plans as the economic impact of coronavirus enters its disruptive phase.

  • Nila Sweeney
Spyre Group's off-the-plan Burleigh Heads Natura development were nearly sold out at its launch on Saturday.

Strong off-the-plan sales for luxury Gold Coast development

Gold Coast luxury high-rise development racks up more than $50 million in pre-sales amid strong demand from affluent buyers.

  • Nila Sweeney
Harvey Gustave and wife Tammy Gustave decided to take advantage of Eastern Pacific's offer to top up their deposit so they can buy an apartment at the Mays Hill Amada development.

The deals developers are offering to reel in first home buyers

Residential developers are dangling bigger offers to lure first home buyers amid a backlog of unsold stock.

  • Nila Sweeney
Apartment completions are expected to be delayed by up to six months due to shipment delays of building materials from China caused by the coronavirus.

Virus could delay apartment completions by up to six months

Developers are bracing for completion delays as building materials are held up in China.

  • Nila Sweeney
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February 2020

Fridcorp buys out partner Wingate to fully own the Beyond Hurstville mixed-use development in Sydney's south.

Fridcorp buys out Wingate's 50pc share of $700m Hurstville site

The Melbourne-based developer has acquired the remaining share of the $700 million mixed-use Hurstville project from its partner Wingate.

  • Nila Sweeney

December 2019

Doing extra due diligence can help reduce the risks of buying new apartments.

Guide to buying newer apartments

Scared of Opal-like problems? Here's how to do extra due diligence.

  • Nila Sweeney
Perth-based developer Gary Dempsey plans to build four more luxury apartment projects including a beachfront co-living development in the next two years.

Perth prime developments ramp up

Despite the lingering oversupply of apartments in Perth, local developer Gary Dempsey is ramping up his high-end residential developments amid signs of nascent recovery in the market.

  • Nila Sweeney

November 2019

Off-the-plan buyer Wendy Mace said it's getting competitive for buyers.

Worst could be over for off-the-plan properties

After a sustained crash over the past two years, there are early signs that demand for off-the-plan properties is starting to return.

  • Nila Sweeney
Mortgagee sales like this one at 44-46 Maple Road, Casula in Sydney are rising as more developers default on their non-bank lender loans.

Distressed sales rise among small developers

The sales were mostly coming from local and Chinese property developers who bought at the height of the boom and were unable to get their projects off the ground.

  • Nila Sweeney

Original URL: https://www.afr.com/topic/off-the-plan-market-1mrf