Tallawong: Ophora affordable housing apartment development to include defects insurance

Western Sydney’s latest offering of affordable housing presents buyers with a unique opportunity to snap up a “boutique” unit with defect insurance built-in, for about half the market cost.

When Western Sydney’s latest offering of affordable housing hits the market this month, homebuyers will pay about half as much for a “boutique” apartment that also comes with 10 years of comprehensive structural insurance.

Ophora is the first apartment block of its kind in the Blacktown City Council area to be backed by Latent Defects Insurance (LDI), which will allow new owners to fix serious building defects up to 10 years after first moving in.

Ophora, a development in the Tallawong Village precinct (by KDMC) in northwest Sydney. Picture: Supplied / KDMC

LDI was introduced by the NSW government in 2022 to cover owners from delays and expense of getting repairs to critical parts of a building’s “common property” – including the structure, fire safety systems, and waterproofing.

Developer KDMC is “proud” to be the first developer to offer buyers in the Blacktown area peace of mind with the insurance cover.

KDMC development manager Ronnie Rahme said Ophora offered a unique opportunity for first-time buyers to get a foot onto the property ladder in a luxury home that costs less for more assurance.

“LDI is only offered to developers and builders with a history of quality workmanship, and it requires both parties to employ an independent inspection service throughout construction which inspects each stage of construction thoroughly,” he said.

Ophora is the first apartment development in Blacktown City Council to offer 10-year Latent Defect Insurance (LDI) as standard. Picture: Supplied / KDMC

It will offer 81 apartments – from one to three-bedrooms – that will cost up to 45 per cent less than the median house price. Picture: Supplied / KDMC

Mr Rahmes said it was important to build back buyers’ confidence after a number of critical defects in new building emerged in the last few years – most infamously, those found in the Opal Tower in 2018.

“The cost-of-living crisis across Australia and particularly Sydney has made it harder than ever for young families, essential workers, first homeowners and even down-sizers to get a foothold on the market,” he said.

“Given some recent industry instances of building defects, we were quick to acquire LDI before we began construction to demonstrate that entry-level prices don’t equate to a sacrifice on safety or quality.”

Ophora features contemporary styling, lush gardens, rooftop terraces and barbecue areas for residents. Picture: Supplied / KDMC

The five-storey Ophora complex at Tallawong will offer 81 apartments at a fraction of the cost of the median unit in Sydney – which, according to CoreLogic was $836,220 as of December 2023.

Prices for a one-bedroom apartment start at $475,000, a two-bedroom unit will cost at least $625,000, and a three bedroom upwards of $745,000.

KDMC promises Ophora will deliver a modern amenities “that streamline daily life” in a “rapidly emerging suburb” in northwest Sydney.

Ophora residents will also have access to rooftop terraces and barbecue spaces, “lush gardens”, high-speed fibre internet and EV charging stations.

Ground-floor apartments have their own private terrace, and each upper-floor unit has a spacious balcony. Picture: Supplied / KDMC

The apartments sit just two kilometres from the new Tallawong Metro Station and Schofields Train Station, and a two-minute walk from a bus station.

The first release of apartments will hit the market on February 17, coinciding with the launch of the KDMC display suite launch and opening information session.

The RSVP-only event will feature presentations from KDMC, LDI insurer SHC Insurance Brokers, Strata Defect Specialist Services and My Housing Market chief economist Dr Andrew Wilson.