AURA by Aqualand sees record sales week as Sydney's luxury new apartment market ramps up
Aqualand has broken the North Shore record for the highest sales revenue achieved in one week at its recently completed North Sydney apartment development, AURA by Aqualand.
The integrated developer-builder has sold $40 million worth of apartments in the luxury Walker Street building that was officially completed in late June.
Aqualand expects to break the record again in the coming weeks as sales momentum continues to ramp up. They saw over $100 million in sales in February 2024, the most in a single month since the North Sydney tower was launched in December 2021.
Aqualand has been a record-setter in the North Shore before, at its luxury BLUE at Lavender Bay development where they sold a penthouse for around $9 million in 2018, the highest price paid for an apartment at the time in the region. That was then broken a few weeks later with a $10.5 million sale.
Aqualand’s Head of Sales and Marketing, Alex Adams, said contracts were exchanged across all configurations at AURA by Aqualand, including one, two, three and four-bedroom residences.
“It’s been interesting that no particular product has outperformed the others, with sales evenly spread across all apartment types," Adams said.
"Every aspect of the building is selling extremely well, which proves our product offering perfectly reflects buyer demand."
Adams believes the increase in buyer commitment that week reflected the building’s recent completion, as well as the ongoing evolution of North Sydney, with the long-awaited opening of the Victoria Cross Station and broader Sydney Metro, as well as the opening of AURA’s four world-class hospitality outlets in the new Walker Street Precinct; Genzo, Sol Bread and Wine, Una Providore and Soluna.
“Our market campaign was also amplified leading up to AURA’s completion, resulting in enquiries over the past six months from potential buyers who weren’t yet ready to transact, reengaging with the project and returning to buy," Adams added.
“We also know the change to our buyer journey moving our display showroom into the completed building, was well worth the significant investment, as they can now directly experience the completed building firsthand. They can see the build quality in the new showroom, and when we take them up into the stunning display apartments, the build quality and high-level of finishes is reinforced in their mind, instils confidence in us leading to increased conversion. These apartment tours have been heavily booked, and with all the amenities finished, they can see it offers the best quality in the Sydney market.
“Given most buyers are owner-occupiers, with downsizers being overtaken by more and more families leading the buyer demographic, there is a select number of luxury buyers less likely to transact on off-the-plan projects and wait until they can experience the build quality, materials and attention to detail firsthand. They’re conscious they’ll experience the building on a daily basis, so they need reassurance the quality and lifestyle offering we’ve delivered is exactly as promised."
Adams said there are more families choosing to right-size into a three-bedroom apartment, and now downsizers, who initially led the charge of sales, are starting to come back, resulting in more four-bedroom sales around the $7 million mark.
“We know one main reason downsizers held back is because they had to sell their family home with little security around what they could sell for. However, the housing market has been more stable recently and values have increased, so this has provided more confidence, especially with interest rates stabilising as well. This provided more time to list their homes until they got the price they wanted.
“There’s still also a distinct lack of competition, with the ongoing shortage of project approvals due to council rejections, and hence other developers not submitting plans, which results in fewer options for purchasers of luxury property."
Towering 28 storeys above the streetscape, and commanding extensive views of Sydney Harbour, the Woods Bagot-designed mixed-use residential community comprises 386 luxury apartments above a community precinct that includes a two-level curated food and beverage podium with four world-class venues operated by their hospitality business, Etymon Projects.
Residents are set to benefit from an elevated luxury lifestyle with amenities including a dedicated concierge service, wellness centre with gym equipped with world-leading fitness technology brand TechnoGym, pool and spa, as well as a rooftop with a sun deck, private dining spaces, and a barbecue and kitchen space.
