deposit scheme

Poised to bring the next generation into the property market, heavyweight property developer Third.i has received the green light from the City of Newcastle council to bring its latest offering to reality, the Dairy Farmers Towers project in the heart of Newcastle&rsquo;s West End.

The project burst onto the market just a few months ago, drawing buyer attention before the project had even launched.

[smartcode_project:default project_id=109979 project_image_fid=187054]

The Dairy Farmers project is set to deliver 184 one, two and three-bedroom apartments over two towers, topping a five-storey residents&rsquo; only shared work hub with over 1600 sqm of commercial and retail space.

Third.i is also one of the largest providers of Specialist Disability Accommodation apartments along the East Coast of Australia, partnering with numerous Specials Independent Living Advisors to provide suitable accommodation in their large scale developments, including Dairy Farmers Towers, which will deliver eight SDA apartments.

With development approval under its wing, Third.i will commence construction in the third quarter of this year with expected completion for the back end of 2024.

The project will offer an exclusive deposit scheme, a first for Newcastle, in collaboration with CoPosit, which will see a fee-free app-based service allowing buyers to purchase a property with just $10,000 in savings, with the remainder of the deposit paid over weekly instalments.

[smartcode_project:default project_id=109979 project_image_fid=187062]

Third.i Co-Founder and Director, Luke Berry, says the DA approval paves the way for Third.i to fulfil a dream to help people enter and re-enter the property market with overwhelming local support from hungry buyers.

&ldquo;We are thrilled to receive our development approval from the council for Dairy Farmers Towers, a project that is providing achievable deposit schemes for those looking to secure their slice of the real estate market,&rdquo; said Berry.

&ldquo;The West End is quickly becoming Newcastle&#39;s beckoning lifestyle hub, complete with an eclectic mix of urban flair and character. Dairy Farmers Towers joins our stable of West End projects and has already become a legacy project for everyone to enjoy. When you&rsquo;ve also got the CoPosit initiative to help Australians purchase their first homes, I couldn&rsquo;t be prouder of the calibre that will soon be brought to life with this DA approval,&rdquo; he added.

Berry also noted how using the scheme could save buyers money in the long run as well as securing a new build property now, rather than buying one after competition at a higher price, which sees a lot of buyers traditionally priced out of the market.

[smartcode_project:default project_id=109979 project_image_fid=187064]

Dairy Farmers Towers is set to include a deluxe range of exclusive amenities featuring co-working spaces, cabana pool areas with a lap pool, a wine bar and cellar, a state-of-the-art gym and a Pilates studio, as well as multiple function rooms.

A young buyer who purchased through the CoPosit scheme said that if not for the scheme offered at the project, it would&rsquo;ve taken them an additional two years to save for a normal deposit.

&ldquo;What drew me to Dairy Farmers Towers was the bespoke amenities on offer and the opportunity to purchase through CoPosit. I have never seen such a great initiative within Newcastle that assists first home buyers get into the market at such a high-quality level of development,&rdquo; said the Dairy Farmers Towers buyer.

&ldquo;The process was really simple and straightforward. I have been really impressed so far with the service and how many people there are to assist with any of my questions. I think more people should consider purchasing with CoPosit because of how easy and rewarding it has been being able to actually put my name on my dream apartment without having to wait another two-years to save my deposit.&rdquo;

[smartcode_project:default project_id=109979 project_image_fid=187069]

The green-lit Newcastle West site was once home to Dairy Farmers - one of Australia&rsquo;s largest dairy producers.

In a nod to the history of the site, Third.i has reimagined the heritage-listed, iconic milk bottle and clock towers as part of the project through a pedestrianised, broader public art installation.

&ldquo;Residents will have some of the best views in town, as well as access to the harbour, great dining and entertainment options, and the transport interchange at their doorstep. We wanted Dairy Farmers Towers to be a West End icon, a landmark reborn to create a new chapter as a great place to live, work and play. With construction commencing later this year, we can&rsquo;t wait to do exactly that,&rdquo; concluded Berry.

[smartcode_project_cta: project_id=109979]

The Dairy Farmers project is set to deliver 184 one, two and three-bedroom apartments over two towers, topping a five-storey residents’ only shared work hub with over 1600 sqm of commercial and retail space.



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 Council gives green light for Dairy Farmers Towers, paving the way for Newcastle’s latest apartment development 

Sydney developer, Coronation Property is helping to make stepping onto the property ladder a little easier for aspiring home buyers.&nbsp;

Coronation, a local developer of mixed-use developments and masterplanned communities across Sydney, has recently launched their &#39;Own Way&#39; finance scheme, which offers flexible deposit arrangements for aspiring buyers.&nbsp;

The scheme caters to homebuyers wanting to get a foot in the door, but who may be struggling to save for the substantial 10 per cent deposit, with the payment scheme allowing purchasers to secure an apartment with just a one per cent, up front deposit.

[smartcode_project:default project_id=31751 project_image_fid=160999]

After which, buyers can continue to save and pay off the remaining balance of the 10 per cent deposit over a 12-month period.

Further easing the burden for young buyers, the Own Way payment scheme has no impact on eligibility for the NSW Government&rsquo;s First Homeowner Grant and First Home Buyers Assistance Scheme.

The scheme is eligible at Coronation Property&#39;s&nbsp;project, Mason &amp; Main - the group&#39;s precinct-style project west of Sydney in Merrylands.

Les Landerer, a senior executive at Coronation Property, says the scheme was primarily designed to support first home buyers and young families, who are consistently priced out of the housing market.

&ldquo;Coronation Property is committed to helping more purchasers on their personal journey towards buying their first property, because we understand it&rsquo;s one of the most valuable and rewarding investments most people will make in their lifetime,&rdquo; Landerer says.

[smartcode_project:default project_id=31751 project_image_fid=161005]

&ldquo;With the gap between median house and unit values in Sydney increasing, the Own Way scheme allows buyers to enter the local property market at an attainable price point, without having to sacrifice on quality.

&ldquo;We collaborate with the most distinguished architects and interior designers in the industry to develop and build high-quality, high-design residences, crafted especially for the diverse lifestyles of our buyers, and this new scheme is our way of helping people gain affordable entry into Sydney&rsquo;s housing market.&rdquo;

After trialling the incentive with select customers in 2021, Coronation Property noticed strong uptake of the offer, which in turn helped with the decision to expedite the launch.

First home buyer, Soomin Lee, was among the first to take advantage of the Own Way scheme, purchasing a two-bedroom apartment at&nbsp;Mason &amp; Main.

[smartcode_project:default project_id=31751 project_image_fid=161001]

&ldquo;I feel like we&rsquo;re always told to buy house and land, but the 10% upfront deposit wasn&rsquo;t feasible for me,&rdquo; Lee said.

&nbsp;&ldquo;By locking in an apartment on a one per cent upfront deposit instead, and then having time to save the remaining portion of the deposit, I was able to get into the property market straight away and have the convenience of being able to pay the remaining balance over a reasonable timeframe.

&ldquo;Without the one per cent incentive I would have had to wait another two to three years to buy a home. It was always in the back of my mind, but I wasn&rsquo;t able to make it a priority,&rdquo; Lee added.

[smartcode_project_cta: project_id=31751]

The scheme caters to homebuyers wanting to get a foot in the door, but who may be struggling to save for the substantial 10 per cent deposit, with the payment scheme allowing purchasers to secure an apartment with just a one per cent, up front deposit.



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