Tallawong apartments with coveted LDI hit the market

KMDC launches sales on 17 February
‘Ophora’ will offer Sydney’s most affordable apartments with Latent Defects Insurance
Starting prices are almost half of Sydney’s median unit price.

The first-ever apartment building in Blacktown City Council with a 10-year Latent Defects Insurance (LDI) and one of Sydney’s most affordable apartment buildings – will officially hit the market this month.

First-release apartments will be available to market at an inaugural open day for a boutique Tallawong development on 17 February, offering buyers a rare selection of affordable abodes for up to 45 per cent less than the citywide unit median of $795,994[1].

Ophora, a chic residential development that’s currently under construction through prominent Sydney developer KDMC, is due for completion this year and will boast one-bedroom apartments from $475,000, two-bedroom units from $625,000, and three-bedroom homes from $745,000. The complex, which sits just two kilometres from the new Tallawong Metro Station and Schofields Train Station, and a two-minute walk from a bus station, is also one of Sydney’s most affordable apartment complexes to offer the coveted 10-year Latent Defects Insurance (LDI). LDI is a post-completion policy covering all structural elements of the building[2].

The Information day coincides with the display suite launch and will offer buyers an insight into Ophora’s rich list of features that span rooftop terraces and barbecue spaces, contemporary styling, lush gardens, ducted air-conditioning, high-speed fibre internet and EV charging stations.

Due to high interest, buyers are recommended to RSVP to ensure they don’t miss out.

The event will feature presentations from LDI insurer SHC Insurance Brokers, Strata Defect Specialist Services, the Developer, KDMC and acclaimed Chief Economist at My Housing Market, Dr Andrew Wilson.

KDMC Development Manager, Ronnie Rahme, said the sales launch offers a chance for buyers to get a foot on the property ladder in a stunning complex close to key amenities and in an area identified by the Australian Bureau of Statistics as one of the capital’s fastest growing regions[3].

Ronnie says: “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[4].

“It’s why we’ve been determined to deliver affordable luxury apartments built to an outstanding standard with additional peace of mind to buyers by providing the highly-sought-after LDI.

“We encourage all prospective buyers to RSVP to the Ophora open day to not only glean an insight into these apartments and the lifestyle on offer, but also insights into the property market and citywide economy from top thought leaders.”

Dr Andrew Wilson said Sydney’s apartment market recorded solid price growth over 2023, driven by clear value opportunities for local buyers, rising investment returns, surging first home buyers and record immigration.

Dr Wilson says: “The Sydney housing market rebounded strongly through 2023 following subdued activity in 2022 as interest rates increased for the first time in a decade. House and unit prices are now clearly tracking at record levels into 2024.

“Value opportunities will continue to drive the high-priced Sydney market, with first home buyers and investors attracted to affordable, high-yielding developments.

“The Sydney housing market is set to record another year of positive price growth, supported by a nation-leading economy, strong wage growth and restored confidence, with interest rates set to remain steady for the foreseeable future.”

With limited availability, KMDC recommends attendees on the day RSVP by providing contact details here https://ophora.com.au/contact/.

ENDS

About KDMC

KDMC is a leading Australian provider of property development, management, and capital services. KDMC was one of the first developers to identify Sydney’s North West as a potential for future growth back in 2009, and among the first to make applications to the Blacktown City Council for high-density residential projects in the area.

[1] https://www.domain.com.au/research/house-price-report/december-2023/

[2] https://www.nsw.gov.au/housing-and-construction/strata/ten-year-defect-insurance-for-apartment-buildings

[3] https://www.abs.gov.au/statistics/people/population/regional-population/latest-release#:~:text=Greater%20Sydney%20increased%20by%2037%2C300,both%20up%20by%204%2C200%20people

[4] https://newsroom.unsw.edu.au/news/business-law/when-good-time-purchase-your-first-home-australia#:~:text=In%202023%2C%20housing%20affordability%20declined,report%20by%20ANZ%20and%20CoreLogic.