Mint360 secures rush of fresh sales as Landmark Randwick launches

Sydney’s Landmark Randwick development has had a surge in off-the-plan investor interest driven by the upcoming changes to stamp duty concessions.

David Gray of agency Mint360property says the weekend’s sales launch was the biggest rush to he’s ever seen in the east.

The NSW government’s home builders’ bonus, which provides stamp duty exemption for buyers of new property under $600,000, expires on July 1.

Mint360property marketer Arthur Perdis says almost all of the 70 groups that came to the launch put in an offer. He says 70% of the buyers were owner-occupiers.

Of the 42 one-bedroom apartments building, 32 sold on the day. All seven of the two-bedroom, one-level apartments sold. Eight of the 16 two-storey two-bedroom Skyhomes sold.

One-bedroom and one-bedroom plus study apartments cost $550,000 to $650,000, the most popular range.  Two-level two-bedroom apartments cost $700,000 to $800,000. And the Skyhomes cost $750,000 to $800,000.

Mint360property’s Diane Goncalves says buyers were driven by changes in stamp duty concessions. She says buyers saved up to $22,490 by buying this week instead of next.

Landmark Randwick is a 117 apartment low-rise residential development in Randwick by developer Zonie Property Group. The building is one kilometre from Coogee Beach and shopping centre The Spot.

The four-building site occupies 4,900 square metres over a three-street frontage on the eastern side of Avoca Street.