Down By The Harbour – Australian Property Market
Dive into the Sydney property market where two projects are deemed good investment considerations if you’re looking to park your money there.
Two destinations flaunting harbourside living, nature-based activities and modern conveniences, make for a choice overseas property investment.
Has the pandemic forced investors to rethink their investment strategies in the Australian residential property market? With many buyers’ minds preoccupied with wellness, privacy and health in this global health turmoil, the desire for prestigious waterfront homes may gain ground.
In 2021, the Crown Residences’ completion of its One Barangaroo project added a significant number of new super-prime apartments fronting Sydney Harbour. Yes, it witnessed the highest number of annual super-prime sales on record.
Just in Q3 2021, 32.9 per cent of the 374 super-prime residential sales were situated in waterfront projects in Australia. Properties in rivers, canals, coastal spots, and harbour by volume of super-prime residential sales were 7, 13, 16 and 64 per cent, respectively. While the statistics were similar to the year before, only slightly below the 34 per cent 10-year average, the notable strength of the expanding super-prime market was duly observed by experts.
Homebuyers desired direct access to water and exclusive maritime facilities, a premium they were willing to fork out despite the multiple lockdowns and the disruption in economic and lifestyle opportunities. Further analysis of the report revealed that one in three transactions accommodated an exclusive maritime facility. Of these transactions, 32 per cent were found to offer a jetty, 27 per cent came with mooring features, 17 per cent provided a pontoon, and 4 per cent accommodated a slipway.
Homebuyers are on the lookout for waterfront properties for sure as data unravelled a 79 per cent price premium on average more than their inland equivalents in 2021, increasing by 14.4 per cent, from 69 per cent one year ago. Sydney continues to lead with 119 per cent in the greatest average waterfront uplift, followed by the Gold Coast at 71 per cent; Perth at 67 per cent. Melbourne snagged 37 per cent in Q3 2021 up from 30 per cent in Q3 2020 while Brisbane’s uplift grew by 14 per cent in the year to Q3 2021, to average a waterfront premium of 54%. The southeast corner of Queensland witnessed local upsizers and interstate buyers drawn to riverfront properties in prestigious suburbs.
A recent Knight Frank Global Buyer Survey done in mid-2021 uncovered interesting data: When asked about how the pandemic might influence their next home purchase, 42 per cent of respondents were more convinced to move to a waterfront residence, this had increased from 40 per cent when compared to being asked a year earlier.
One Sydney Harbour
The preeminent Pritzker Prize winner Renzo Piano didn’t take long to find inspiration to design the One Sydney Harbour residential project. Just admiring the waves on the glistening harbour and how the sun rays reflected on it was enough to help him devise this architectural marvel. Situated on the One Barangaroo strip, the end result is an elegant structure that shimmers and glints just like the waves on this iconic harbour. Piano was also the architect behind The Shard in London.
Interestingly, Piano ensured that every unit would provide enviable vistas for its residents to enjoy. One Sydney Harbour appears like a shimmery crystal when it catches the light from the harbour, blending with the Harbour Bridge and Opera House. While the development’s most luxurious abode has been sold – the 17,000-square-foot penthouse with 8-metre-high ceilings covering three floors of its three luxury residential towers – it may inspire future homeowners to look at other units within the project. The lucky penthouse owners will definitely reap the spoils of a private roof-top pool, spa, and gymnasium, plus many more amenities to enjoy.
The tallest of the three structures in the One Sydney Harbour development rises 250 metres, while the second and third tower stands at 235 and 107 metres, respectively. On the other hand, the striking 68-storey Residences Two will house 322 apartments comprising configurations of full-floor and part-floor homes, along with one-, two- and three-bedroom configurations. By 2025, all three towers would be completed, offering 801 apartments in total. The star unit in One Sydney Harbour is the “Skyhomes” penthouses in Residences Two curated by State of Craft’s Creative Director, Daniel Goldberg. Here, its future owners will appreciate the finest interior furnishings. The interior is said to be inspired by “life onboard private yachts”.
The dining room at One Sydney Harbour. Image: LendLease Australia.
The Goldberg + Piano partnership is in its third successful collaboration. Previously, they worked on The Shard and Shard Place in 2012. In truth, the penthouse’s bespoke design will make this project Australia’s most expensive luxury property.
The configuration of Skyhomes offers floor plans spanning 5,382 to 6,997 square feet with 3-metre-high ceilings throughout. Each Skyhome will enjoy a private lift lobby, rooftop terrace with entertainment space, and swimming pool, to name a few. These “Sky Terraces” will span over 1,075 square feet and offer stunning panoramic views of Sydney Harbour and the Blue Mountains framing the backdrop. If staying at home is not on your agenda, there are plenty of lifestyle and retail options down by the waterfront. With the convenience of such amenities at your doorstep, complemented by a scenic harbourside view, living at One Sydney Harbour should be on your cards for property investment.
The Waterfront, Shell Cove, Sydney, Australia
Frasers Property Australia’s The Waterfront, Shell Cove is a cluster of coastal homes that were included in the masterplan community idea spearheaded by Shellharbour City Council together with Frasers Property Australia. The development embraces the beauty of the natural environment, so the design of the homes reflects the buyers’ appreciation of Mother Nature’s gems and the vast outdoors. Nestled on the beautiful New South Wales South Coast, the 116 residential unit project is located just one hour’s drive from Sydney’s southern suburbs.
Situated near a marina, a short 130-metre walk leads you to the residential development consisting of two-, three- and four-bedroom units. A future town centre will be located just 300 metres away, too. Here, you can enjoy harbourside lifestyle set in a stunning natural environment. Yes, nature is right at your doorstep! Imagine strolling along the boardwalk on a weekend, sipping a cuppa at a cafe, enjoying the cool breeze as you indulge in many pursuits such as tucking into a meal, appreciating art, imbibing the culture and community, or just getting into a bout of fitness activity such as going on an outdoor adventure along the coastline. Nature lovers will relish in all the delightful nature-based encounters they can discover at Shallows Beach, Shallows Coastal Reserve and Bass Point.
Residents will also enjoy the convenience of nearby Woolworths, pick up some fresh bread from a local bakery, sharpen their looks at a local barber, or spend many wonderful dining moments with friends and family at The Waterfront Dining Precinct and Tavern. Families can also bond with walks in the parks and wetlands while schools and transport and major centres are not too far away.
More than just residential living, The Waterfront, Shell Cove masterplan will also include a 117-room hotel, marina services centre, library, and community centre. If living by the water’s edge is right up your alley, then The Waterfront, Shell Cove can be considered.
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