Sydney's top five trending apartment developments for investors in 2024
Investors in Sydney haven't been deterred by the 2023 interest rate hikes which took
Data by MatterFact, urban.com.au's new data product, shows there have been just as many investors so far in 2024 compared to the same time in 2023.
Numbers are still around 20 per cent down from where they were in early 2022, when the official cash rate was at a record low 0.1 percent and investors could make investing stack up on a wider scale.
Investors have tended to look outside of the city for affordability, apart from Aqualand's game-changing AURA by Aqualand project which is soon to complete.
We've crunched the numbers and wrapped up the top five apartment developments that have drawn the interest of first home buyers so far in 2024.
Projects: The Grand
Location: 27-37 Mann Street, Gosford NSW 2250
Developer: TQM Group
Gosford, the entry point to the Central Coast, is undergoing a huge gentrification, which kicked off at the start of COVID-19 when the need to be in the office five days a week became redundant.
With that trend continuing, more so in Sydney than any other capital city, Gosford is still in vogue for both owner-occupiers and investors.
While development is rife, joint venture partners TQM and Ace Property Group have sought to make their Gosford project, The Grand, stand out.
The 18-level tower, designed by Sydney-based, internationally recognised architecture firm KANNFINCH, will house 138 apartments, set above an activated podium.
Within the podium, on street level, will be several food and beverage tenancies when the building is complete in 2025.
The podium levels will be crowned by a residents' infinity pool and a landscaped garden, designed by Site Image Landscape Architects.
The Grand is located toward the southern end of Mann Street, near the water. However, The Grand’s easy access to the Central Coast Highway, and its proximity to the Gosford Train Station less than 700 metres away, makes it an easy commute to both the city and exploration of the surrounding beaches, forest reserves, and beachfront national parks.
Projects: Fox Lane
Location: 2 Fox Lane, Rockdale NSW 2216
Developer: TQM Group
TQM Group's next generation of urban-designed apartments has become one of the most sought-after addresses in Rockdale, particularly by investors and first-home buyers alike.
Fox Lane comprises 43 studio, one, two and three-bedroom lofty, modern apartments with balconies above two ground-floor commercial spaces. The apartments start at $539,000.
The Place Studio-designed building is crowned by rooftop amenities, including a cinema, pool and BBQ area, which are complemented by easy access to some of Rockdale’s many local amenities and urban conveniences.
The $50 million project is conveniently located at 2 Fox Lane, a quiet but active corner just off Princess Highway.
Fox Lane is only an eight-minute walk to Rockdale or Banksia Station, for a hassle-free 30-minute commute to the CBD.
The Place Studio-designed development also places residents within reach of an array of local amenities. Whether it's a day at Brighton-Le-Sands Beach, a visit to the Ador Park Precinct, or a round of golf at Bardwell Valley Golf Club, recreational options are plentiful.
The culinary scene around Fox Lane is equally impressive, teeming with a vibrant café and restaurant scene with some of the best food and dining spots nearby.
Projects: Auburn Square
Location: 26-36 Northumberland Road, Auburn NSW 2144
Developer: Tian AN Australia Ltd
Auburn is a hub of connectivity situated in the geographical heart of Sydney, offering the benefits of suburban living, with great transport accessibility to business centres including Parramatta and the CBD, only ten minutes away by train. This strategic location enhances the property's potential for long-term residency and rental yield.
There is no end of demand from home buyers and investors who want to live in Sydney’s gentrifying inner Western suburbs, especially since having turned around from the coronavirus-induced slump that occurred throughout much of 2020.
The latest data from urban.com.au, shows investors are interested in developer Tian An LFD's Auburn apartment development, Auburn Square.
Auburn Square comprises 427 residences in one, two, and three-bedroom configurations, including nine retail and commercial suites and various amenities.
The development offers affordable apartments, with one-bedroom and two-bedroom units starting below $600,000—below the Sydney median. This affordability makes it a feasible entry point for first-home buyers and investors.
The first stage of Auburn Square, which comprises 148 apartments across a ten-level building, has recently been completed and is ready for occupancy.
Retail spaces on the ground floor, along Northumberland Rd, connecting directly to Auburn Town Centre, are also now available for lease.
Projects: AURA by Aqualand
Location: 168 Walker Street, North Sydney NSW 2060
Developer: Aqualand Australia
Exciting changes are coming to North Sydney, making it a vibrant hub for new homeowners, businesses, and visitors.
With plans for rejuvenated public spaces, the upcoming Victoria Cross metro line, $11 billion in proposed building projects, and over 30 new retail and hospitality brands on the way, North Sydney is set to become more connected and convenient.
AURA by Aqualand will be the first grand residence in the area and is the anchor to it all.
While the majority of buyers in Aqualand's game-changing North Sydney landmark were downsizers and young families, now at 90 per cent complete, urban.com.au is seeing several buyers looking to invest in AURA.
AURA by Aqualand comprises 386 apartments above a two-level podium with several retail and commercial spaces which will activate the Walker Street streetscape.
AURA by Aqualand’s extensive retail precinct will provide residents with a curated shopping and dining destination on their doorstep, including a providore, bakery, café and wine bar, an all-day diner and a contemporary Japanese restaurant.
Other resident amenities include a 24-hour concierge service, a Technogym-equipped gymnasium, a wellness room, a pool of Tesla cars to share, and end-of-trip facilities. A glamorous rooftop area offers a sky sun deck, private dining rooms, barbecue and kitchen space for year-round al fresco entertaining.
The building will also benefit from a building management system to monitor and control the building’s services to ensure efficient management and allow for early detection and rectification of any issues to ensure the building is always operating optimally.
Aqualand has also engaged a third party to undertake a peer review on quality assurance once the fit-out is complete, giving buyers even more assurance of a quality build.
Projects: Heritage
Location: 37 Virginia Street, North Wollongong NSW 2500
Developer: MODCO Constructions
Over the last two decades in particular, Wollongong has become the hub of the region, with extensive development of retail and hospitality precincts, the introduction of the electrified train line in the early 1990s, and hospitals and other industries making it the anchor point for all those who live in the district.
The appeal extends to Wollongong's beaches, lifestyle, and cultural offerings, making it an attractive location for owner-occupiers and especially investors.
iCIRT-rated builder developer MODCO Constructions has been clever in its approach to its nearly completed North Wollongong apartment development, Heritage.
Despite only having 22 apartments, they've had PRD Architects design the floor so they're offering one, two, and three-bedroom apartments, which has especially appealed to investors enquiring in urban.com.au recently.
Heritage presents a rare opportunity to purchase a brand-new apartment just 400 metres from North Beach.
Due to the size of North Wollongong, just 136 hectares, there's not too much opportunity to buy a brand new apartment. Comparatively, the suburb of Wollongong is almost ten times North Wollongong. The size of a suburb always tells us there's unlikely going to be an oversupply, which helps support prices for the long term.
Homeowners can anticipate a swift move-in by early next year.