Sales spike hits Newcastle's Sky Residences as investors return

The Newcastle developer GWH has seen a spike in sales of their Newcastle CBD development Sky Residences since the start of 2021.

GWH sales and marketing manager Matthew Waddell puts it down to an increase in investor activity in the region, which posted 3.6 per cent dwelling price growth in March, second only to Sydney in price growth of major regions across the country.

"For this current quarter (January to March), we have seen more sales than any period during the marketing of the project", Waddell says.

There's been a dramatic increase in enquiry from investors, more specifically from investors outside Newcastle, Waddell notes. 

Investors have accounted for 36 per cent of sales since the turn of the year at Sky Residences, just behind owner-occupiers who accounted for 38 per cent. And now over a third of those buying are coming from outside of Newcastle.

"Buyers are making their purchasing decision quicker as well, with a previous ratio of appointments to sales of 7:1 now shortening to 3:1", Waddell says.

Set in the heart of the CBD's Civic precinct, Sky Residences, designed by DBI, homes 180 apartments, made up of one, two, three and four bedroom units.

There are 1,100 sqm of premium hotel-style amenities for residents, including a heated outdoor lap pool, gym and fitness centre and a rooftop sky lounge with 360-degree views across Newcastle. On the roof there's indoor and outdoor facilities, a landscaped lawn terrace, barbecues and dining spaces.

Inside there's a lounge area with a fireplace and a cinema screen and bar.

Remaining one bedroom apartments start from $485,000, with the highest remaining three bedders on level 16 for sale at $1.6 million. The north-east facing penthouse sold for $3.3 million.

About the developer

GWH have been developing property in the Newcastle region for over 25 years, with over $1 billion of completed projects delivered.

Led by Jonathan Craig, GWH are behind Aero in Newcastle, which won the Master Builders Association award for Apartment Development of the Year in 2018, Highpoint in Charlestown and 121Elder in Lambton.