Rouse Hill

Deicorp's $670 million Tallawong project in Sydney's northwest has experienced an influx of buyers since launching to the market, with half of the apartments already sold, and all of Stage 1 completely sold out.

The Turner Studio designed apartments have proven to be a popular option in Sydney's northwest, despite the fact that sales started during the pandemic.

Due to the strong demand, new stages of the development have been released earlier than originally planned.

[smartcode_project:default project_id=106821 project_image_fid=169992]

"Located 50 metres from the Tallawong Metro station, and with the convenience of a 9,000 sqm retail and commercial centre and central park, buyers have voted with their feet making this one of our fastest selling projects in history," Rob Furolo, Deicorp’s Executive Manager of Corporate Communications said.

All 333 apartments in the first stage have already sold out, with less than half of the total apartments still available.&nbsp;

Internally, the living and dining spaces lead to open-air terraces and balconies, with the apartments featuring warm carpets, engineered timber floorboards and contemporary floor tiles throughout.

Tallawong Village is a part of the more than 2,000 apartments that Deicorp is delivering along the Northwest Metro line, with the group also responsible for the Hills Showground Village in Castle Hill and Proximity at Rouse Hill.

&nbsp;

[smartcode_project:default project_id=106821 project_image_fid=169998]

In just a few short years, the northwest region of Sydney is set to undergo a significant transformation, with its population expected to soar to over half a million by 2030.

The bustling area is slated to become a modern and progressive city, complete with top-notch infrastructure, efficient transportation, a thriving economy, and healthy community developments.

At the centre of this grand vision is the suburb of Tallawong, which will take on a pivotal role in the area&amp;#39;s urban renewal.

[smartcode_project_cta:default project_id=106821]

alisonwarters@gmail.com

Deicorp sell out first stage of $670 million Tallawong Village

Lendlease and GPT have recently filed their final plans for the Rouse Hill Precinct, a major development project set to transform the northwest growth centre of Sydney.

The precinct is set to be a vibrant and sustainable mixed-use community, designed to cater to the needs of its residents and provide a range of employment opportunities.

The Rouse Hill Precinct will be developed across 23 hectares and will include residential, commercial, and retail spaces, while also creating a walkable community that is connected to public transport and encourages active transport, such as cycling and walking.

<a data-entity-type="file" data-entity-uuid="685cba9d-50e9-45b7-86b8-c0907ffc7155" href="https://www.urban.com.au/new-apartments/lot-20-commercial-road-rouse-hill"><img alt="Render of the Rouse Hill development " data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-06%20at%2011.53.00%20am.png?VersionId=wA_Sbgk3CIqDfFh9.GSkVtV5w34rYAgn" /></a>

The plans for the precinct include around 400 apartments, a supermarket, specialty retail stores, a cinema, and a range of dining options. The development will also include significant public spaces, such as parks and plazas, designed to encourage community interaction and social cohesion.

Located just 600 metres from Rouse Hill’s Metro Station and town centre, at Lot 20 Commercial Road, the new $189 million project is being designed by Urbis and will include a mix of one, two and three-bedroom apartments.

Lendlease and GPT have emphasised their commitment to sustainability in the development of the Rouse Hill Precinct. The development will feature a range of sustainability initiatives, including rainwater harvesting, solar power, and green roofs.

The precinct will also be designed to maximise natural light and ventilation, reducing energy consumption and creating a more comfortable living and working environment.

The Rouse Hill Precinct is located in a prime position within the northwest growth centre of Sydney, with easy access to public transport, including the Rouse Hill Metro Station, major road networks, and a range of employment opportunities. The development will also provide a significant boost to the local economy, creating jobs and providing new opportunities for businesses to thrive.

<a data-entity-type="file" data-entity-uuid="2d2cff9c-ca4f-4a5e-88ae-1e775b6152f2" href="https://www.urban.com.au/new-apartments/lot-20-commercial-road-rouse-hill"><img alt="Render of the Rouse Hill development " data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-06%20at%2011.57.10%20am.png?VersionId=M6N_elQR.ZNAZlxAFyIHoLthLiy7TX02" /></a>

The Rouse Hill Precinct represents a significant investment in the future of Sydney, providing a sustainable and vibrant community for residents and businesses alike.

Lendlease and GPT's commitment to sustainability and community engagement has ensured that the precinct will be a showcase of best practice in urban development, setting a new standard for future projects across Sydney and beyond.

The Northern Residential Precinct and its adjoining lands have been identified as a key focus for development, given the intensification of the urban context in recent years. As part of a Project Delivery Agreement between Lendlease, The GPT Group, Landcom, and the Department of Planning, Industry and Environment (Office of Strategic Lands), the NRP is poised for a major transformation.

<a data-entity-type="file" data-entity-uuid="50ca1ede-6a19-47cf-a9a1-e58092d09df9" href="https://www.urban.com.au/new-apartments/lot-20-commercial-road-rouse-hill"><img alt="Render of the Rouse Hill development " data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-06%20at%2011.57.32%20am.png?VersionId=fvm3JHjKgfQx7NMMSeuLyZyXJ1EEWPuo" /></a>

The surging demand and need for supply of property in Rouse Hill have already led to significant investments in the area, including a whopping $60 million industrial development and an expansion of the town centre by GPT. With the latest developments in the pipeline, the Hills Shire suburb is set to become an even more attractive destination for investors and property buyers alike.

[smartcode_project_cta:default project_id=138998]

Final Rouse Hill Precinct developed in a joint venture between Lendlease and GPT

Local developers CDMA Australia have recently received approval for their masterplanned project at 34-42 Tallawong Road, located directly opposite the Tallawong Metro Station and future Town Centre.

Bordering on the brink of Rouse Hill, 911 apartments will be delivered across nine towers, with a new public plaza and a green spine also penned for the site.&nbsp;

CDMA are no strangers to the area having developed the in demand Rosella Place just up the road at 56 Cudgegong Road. Only a limited number of residences remain in the five-building development, with CDMA’s CEO, Richard Wu, saying that since the group entered the Australian market back in 2017, their pipeline has continued to grow with three significant projects underway or in planning.&nbsp;

<a data-entity-type="file" data-entity-uuid="1b4db450-98cc-4145-ae28-5b8c897731ff" href="https://www.urban.com.au/new-apartments/rosella-place-56-cudgegong-road-rouse-hill"><img alt="Render of the green spine courtyard that runs through the middle of the development " data-entity-type="file" data-entity-uuid="1b4db450-98cc-4145-ae28-5b8c897731ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Courtyard.jpg?VersionId=SyTrnIWtGxyrUH5FvA04mNspCbgpjrFp" /></a>Render of the green spine courtyard that runs through the middle of the development&nbsp;

“Our first project, Rosella Place has completed its first stage and is now sold out and settled while the second stage is under construction and the final stage will kick-off early in the new year,” Wu said. &nbsp;

“Our second project consisting of 911 apartments is located at 34-42 Tallawong Road and our third project consists of a large-scale master-planned community in Leppington Town Centre which we will work on in coming years.”

The Tallawong project is set to bring major new amenity to the burgeoning area, with a new 2200 sqm public piazza planned, along with a green spine which will offer residents a sprawling village green lawn and communal facilities right through the middle of the development, surrounded by an extensive running track.&nbsp;

The public piazza will comprise two main zones; an open paved piazza fronting the street and internal green lawns. The plaza will offer a vibrant public domain for local residents and the surrounding community, with retail spaces and a public open area, along with a children’s playground area.

<a data-entity-type="file" data-entity-uuid="bade2fcd-6868-40b0-a76e-33bc059b344c" href="https://www.urban.com.au/new-apartments/rosella-place-56-cudgegong-road-rouse-hill"><img alt="Render of the Tallawong project from the north-east corner" data-entity-type="file" data-entity-uuid="bade2fcd-6868-40b0-a76e-33bc059b344c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/North%20East%20Corner.jpeg?VersionId=r2_BjVuDMeY8elSTgNFllz3Ji6odfl9_" /></a>Render of the Tallawong project from the north-east corner

CDMA’s new development seeks to create an attractive landscape setting that reflects the surrounding natural bushland character of the Rouse Hill area, while providing a diverse range of outdoor passive and active communal spaces for the residential population.

The development will be conveniently located directly opposite the Tallawong Metro Station and new Town Centre which will house two major supermarkets including a Woolworths as well as other specialty retailers.

CDMA Australia Development Manager, Alex Guan said that the engagement of their Planner, Urbis together with Architect, Kann Finch Redstone and multi-disciplinary consultants were key in getting the DA approved. &nbsp;

“With the project fast tracked in the vicinity from six to 9 months, CDMA is grateful to work closely with such a professional and efficient team to achieve the desired result,” Guan said.&nbsp;

[smartcode_project_cta:default project_id=93223]

The Tallawong project is set to bring major new amenity to the burgeoning area, with a new 2200 sqm public piazza planned, a sprawling village green lawn and an extensive running track. 

CDMA Australia green lit for major 911-appartment Tallawong development

Three years after lodging a development application for 900 apartments in Tallawong in Rouse Hill, local developer CDMA Australia has received planning proposal approval for the $700 million masterplanned project.

The&nbsp;Kann Finch-designed development&nbsp;at 34-42 Tallawong,&nbsp;directly opposite the Tallawong Metro Station and future Town Centre,&nbsp;will home 900 apartments across nine eight-level buildings, as well as a 2,200 sqm public plaza,&nbsp;pending further development approvals from the local council.

The new public piazza will comprise two main zones, one open paved piazza fronting the street and internal green lawns. The plaza will&nbsp;comprises a retail premise and public open space.

A green sp​ine comprising a village green lawn and communal facilities will run through the middle of the development which will be surrounded by an extensive running track.

<img alt="" data-entity-type="" data-entity-uuid="" height="647" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cdma_rouse_hill_3.jpg" width="1200" />

The project is expected to be completed within six or seven years.

CDMA Australia Development Manager, Alex Guan, said after three years of coordination with the NSW Department of Planning, Industry and Environment and local Blacktown Council, the planning proposal was gazetted and officially signed off.

“The height limit of the buildings was increased to 26 metres and the residential yield was increased from 630 units to approximately 900 units subject to DA approval,” he confirmed.

“Significantly, the development has set a new precedent for heights in the area,” he said.

The concept design seeks to create an attractive landscape setting that reflects the surrounding natural bushland character of the Rouse Hill area, while providing a diverse range of outdoor passive and active communal spaces for the residential population.

<img alt="" data-entity-type="" data-entity-uuid="" height="492" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cdma_rouse_hill_4.jpg" width="1200" />

The development will be conveniently located directly opposite the Tallawong Metro Station and new Town Centre which will house two major supermarkets including a Woolworths as well as other retailers.

CDMA has already seen strong demand for its current residential development, Rosella Place, which has sold&nbsp;$30 million worth of apartments&nbsp;since July.

Named after the vibrantly coloured Australian bird which is native to the Rouse Hill area, Rosella Place offers a peaceful, safe community with 357 apartments set across five mid-rise buildings located within a short 100m walk to the newly opened, Tallawong Metro Station.

[smartcode_project:default project_id=93223 project_image_fid=152740]

CDMA Australia’s CEO Richard Wu said since CDMA had entered the Australian marketplace in 2017, the company’s development pipeline had grown gradually with three significant projects either underway or in planning.

“Our first project, Rosella Place has completed its first stage and is now sold out and settled while the second stage will start construction early in the new year.

“Our second project consisting of 900 apartments is located at 34 Tallawong Road and our third project consists of a large-scale masterplanned community in Leppington which we will work on in coming years.

The $700 million development will home 900 apartments across nine eight-level buildings, as well as a 2,200 sqm public plaza. 



Joel Robinson

CDMA Australia plan for 900 Rouse Hill apartments

Developer Mayrin Group&#39;s latest apartment development, Verset, has been strategically located in the hear of Rouse Hill, in Sydney&#39;s growing north-west precinct.

Verset enjoys the best that the north west has to offer, in close proximity to business, transport, health and education.

Situated at Adonis Avenue, Verset&#39;s individual buildings are divided by pergola-shaded courtyards, with landscaped pathways, lush plantings and calming spaces.

A collection of low-rise buildings, each with a boutique feel, Verset boasts a collection of one, two and three-bedroom apartments with spacious floorplans.

Many of the apartments encompass versatile media areas or studies that can be used as desired and all feature security parking with lift access.

[smartcode_project:default project_id=24445 project_image_fid=175482]

Interiors include free-flowing entertainment spaces, sophisticated finishes and sun-soaked spaces thanks to floor-to-ceiling windows.

Apartments floor into generous gardens and covered terraces to respond to indoor-outdoor living, while courtyards feature a children&rsquo;s play area and barbeque facilities.

The kitchens boast a streamlined design, and integrate a warm, tonal palette with high-quality features and finishes.

Among these include engineered stone benchtops, breakfast bars and quality stainless steel appliances.

Bathrooms are defined by clean lines and clever use of space, finished with hardwearing porcelain tiles with a bold feature wall for visual impact.

[smartcode_project:default project_id=24445 project_image_fid=175483]

In the bedroom, Verset residences include mirrored built-in robes and intelligently-designed ensuites.

According to the developers, Rouse Hill is blessed with plenty of recreational attractions, from parks and playgrounds to sporting fields and cycle paths.

Nearby schools, both private and public, are reputable, with Western Sydney University also conveniently close by, reflecting the family friendly nature of the area.

Verset is just a 10 minutes&rsquo; walk from the nearby metro station and the Rouse Hill Town Centre, a bustling retail hub poised for a further $300 million expansion.

Nearby Norwest Private Hospital is set to undergo a major upgrade and there are also plans to construct a brand new $300 million hospital nearby on Windsor Road.

[smartcode_project_cta: project_id=24445]

A collection of low-rise buildings, each with a boutique feel, Verset boasts a collection of one, two and three-bedroom apartments with spacious floorplans

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How Rouse Hill apartment development Verset takes advantage of its prime north-west Sydney location

The Sydney construction and development firm Deicorp has been given the green-light for its largest ever project.

They&#39;ve secured approval for the new Tallawong Village, located in Sydney&#39;s Hills District near Rouse Hill.

The NSW Department of Planning, Industry and Environment issued consent for the State Significant Project following an extensive assessment process involving Landcom, Sydney Metro, and Blacktown Council.

The consent covers both stages of the project, and permits work to commence on Stage 1.

The site is located immediately adjacent to the Metro Station at Tallawong,&nbsp;a staple of Deicorp&#39;s projects to be well-connected to transport.

[smartcode_project:default project_id=106821 project_image_fid=169999]

Stage 1 will see 333 residential apartments constructed across five buildings, each with a maximum height of eight storeys. There will&nbsp;also be&nbsp;9,000 sqm&nbsp;of retail and a 3,400 sqm&nbsp;publicly accessible park as part of the first stage.

Stage 2 will see a further 654 apartments constructed, taking to total apartments in Tallawong Village to just under 1,000

Construction is expected to commence in August, with completion scheduled for the final quarter of 2023.

Fouad Deiri OAM, chairman of Deicorp,&nbsp;said that he was very pleased that work could commence on this major project.

&ldquo;The development and construction industries play a critical role in delivering the homes Sydney-siders desperately need and want, and in the process, employ tens of thousands of people to build them.&rdquo; Deiri said.

[smartcode_project:default project_id=106821 project_image_fid=169998]

&ldquo;And projects like Tallawong Village give first-home buyers and young families high-quality, well-located and affordable homes in popular and growing parts of Sydney.

&ldquo;This approval will see the creation of an exciting new village that&rsquo;s close to great jobs and outstanding transport infrastructure. Deicorp is delighted to provide convenience, quality and affordability for buyers in the Sydney property market.

The Tallawong Village project adds to Deicorp&rsquo;s substantial pipeline of projects in the Northwest, with apartments under currently under construction, about to start or with approval pending, totalling over 2,000 apartments.

&ldquo;Between this approval in Tallawong, our soon to start project in Castle Hill, our Proximity project in Rouse Hill and our planned mixed-use project at Showground, we are committed to Sydney&rsquo;s exciting and fast-growing Northwest.&quot;

The submission lodged by Deicorp included significant sustainability initiatives, including roof top solar to reduce the operating costs for future residents and make a tangible reduction in energy consumption. The project is expected to deliver 1,500 jobs across the construction program, and approximately 200 permanent jobs when completed.

Stage 1 will see 333 residential apartments constructed across five buildings, each with a maximum height of eight storeys

Deicorp secure approval for Tallawong Village with nearly 1,000 affordable apartments

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The local developer CDMA Australia have launched the final stage of its $237 million Rouse Hill development Rosella Place.

Named after the native bird that characterises the north-western Sydney suburb, Rosella Place is set to home 357 apartments across five nine-storey towers when completed in late 2023.

So far just under 200 apartments have sold, equating to $120 million in sales.

The final stage release sees 117 residences up for grabs across Buildings D and E, a mix of one, two and three bedroom apartments. There will also be seven townhouses available in the final stage (pictured below).

<a href="https://www.urban.com.au/new-apartments/rosella-place-56-cudgegong-road-rouse-hill"><img alt="" height="899" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/rosella_place_3.jpg" width="1600"></a>

Designed by local architects WMK Architecture, Rosella Place apartments start from $480,000 for a one bed, $620,000 for two-bedroom apartments and $755,000 for three bedroom apartments.

The Rouse Hill growth forecast

Many experts and agents are suggesting the Hills District is prime for a property boom, with public infrastructure projects in the pipeline worth billions of dollars.

Ray White Group managing director Dan White said the group had never seen higher numbers of from people inspecting properties on a per property basis in the Hills District. 

“It’s currently 30-40 per cent higher than it was at this time last year, prior to Covid,” Mr White said. 

[smartcode_project:default project_id=93223]“All of the short and long-term drivers of the Sydney market are positive and with infrastructure and population growth, post Covid will be as strong as ever. 

Mr White says that people should be very confident with the property outlook over the medium to long term.

"Sydney will always be a great investment for ongoing growth and the real estate market is a great place to invest. Buyers don’t want to miss out on that continued growth."

CDMA Australia’s sales and marketing manager Jonathan Tan said Rouse Hill’s rural, country-style setting appeals to many buyers, which many of the surrounding suburbs such as Blacktown and Westmead do not offer.  

“It also offers an array of excellent amenities including the upcoming Tallawong Town Centre which will include retail, childcare, public parks and cycle and walking tracks all connected to the Metro Station. 

“The area has a variety of major developments and infrastructure on the horizon with the $250 million expansion of the Rouse Hill Town Centre, the new Rouse Hill Hospital and the Norwest University all to be delivered in the next coming years,” he said.
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So far just under 200 apartments have sold, equating to $120 million in sales.


Final stage of Rosella Place apartment development launches in the Rouse Hill growth area

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Developers have continued to recognise the importance of incorporating open green space into their projects with home buyers increasingly looking for accessible leisure amenities.

Not only does nearby natural space benefit residents’ quality of life but convenient access to landscaped gardens helps foster a sense of community within a project.  

Here are four homes in New South Wales with nearby parklands space for fitness, leisure and relaxation. 
 

1. Allium, Pagewood 
Address: 128 Bunnerong Road, Pagewood NSW 2035 
Two-bedroom apartments from $815,000

[smartcode_project:default project_id=7822]

Meriton’s Pagewood development, Allium, is ideally located to offer families and first home buyers convenient access to championship golf courses, parklands and Sydney’s Eastern beaches.

As well as adjacent green spaces, the 487-apartment development includes podium gardens on the fifth floor, rooftop retreats and extensive turfed area for relaxation and summer dining. 
 

2. Collection, Rouse Hill 
Address: 49 Terry Road, Rouse Hill NSW 2155 
Two-bedroom apartments from $642,500

[smartcode_project:default project_id=6284]

Delivered by Marquess Group, Rouse Hill’s latest development comprising 311 apartments across three buildings offers residents an abundance of open, green space in Sydney’s north-west.

Masterplanned by architects DKO, Collection borders the popular Berowra Valley National Park and includes a meticulously landscaped communal garden for residents’ private use.   
 

3. Orchid, Eastgardens 
Address: 9 Oscar Place, Eastgardens NSW 2036 
Two-bedroom apartments from $835,000

[smartcode_project:default project_id=29389]

Orchid, the final stage of Meriton’s masterplanned Pagewood Green development in Eastgardens, offers a “residential oasis” within Sydney’s East, according to the project marketing.

Offering residents an ideal natural setting to recharge, the development is located nearby surrounding parklands, sporting fields and recreation facilities, including Centennial Park, Lakes Golf Course and the urban bushland at Moore Park. 
 

4. 1-39 Lord Sheffield Circuit, Penrith 
Address: 1-39 Lord Sheffield Circuit, Penrith NSW 2750 
Apartment prices available upon request

[smartcode_project:default project_id=29200]

Urban Property Group’s new Penrith masterplanned community is situated just metres from Penrith train station and local parks.

The community parklands, just moments away, offers playground equipment, open spaces and barbeque facilities that the whole family can enjoy.
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Here are four homes in New South Wales with nearby parklands space for fitness, leisure and relaxation

Property insider guide: 4 stunning NSW homes with adjacent parkland

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CDMA Australia has completed the first apartment building of its multi-staged, master-planned community, Rosella Place in Rouse Hill.

The first nine-level building has 72 apartments with large balconies offering sweeping views of the surrounding countryside. There are just five apartments left for sale in the development.

When completed in late 2023, Rosella Place will comprise 352 apartments across five mid-rise buildings.

The development at 56 Cudgegong Road, Rouse Hill is located in Sydney’s rapidly-growing north-west and is just 100 metres from the newly opened Tallawong Metro Station.

CDMA Australia sales and marketing manager Jonathan Tan said Rosella Place is the ideal purchase for a young family looking to make their first property purchase at a price that suits their budget as well as local downsizers who are looking for zero maintenance.

<img alt="" height="933" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cudgegong_rd_kitchen_.jpg" width="1200">

“Investors will also be drawn to this project attracted to capital growth prospects with the raft of major infrastructure projects coming up in Rouse Hill including the $250 million expansion of the Rouse Hill Town Centre, the new Tallawong Town Centre, the opening of the new Rouse Hill Hospital and the Hills District’s first university, Norwest University", Tan said.

“In as little as five years’ time, Rouse Hill will be a major new centre in Sydney’s north west, home to thousands of more residents but also supported by significant local infrastructure and amenities.”

The next release of apartments at Rosella Place will be launched to market in mid March.

Designed by local architects WMK, Rosella Place, named after the vibrantly coloured Australian bird which is native to the Rouse Hill area, is one of the first residential projects to get underway in the rapidly expanding north west which meets a need for affordable, high quality apartments in close proximity to transport links and new public amenities.

The next release of apartments at Rosella Place will be launched to market in mid March.

About the developer

CDMA is a strategic alliance between major international property development firm Lianfa (Group) Co., Ltd (core arm of Xiamen C&amp;D Co., Ltd) and highly regarded local developer Metro Award Group.
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Investors, downsizers and families to be drawn to new Rouse Hill community Rosella Place

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Rouse Hill in Sydney's Hill District is expected to see its amount of units grow by over 200 per cent in the next 24 months.
It stands out in RiskWise's top 10 danger zone areas in Australia for high settlement and cash flow risk. 
Rouse Hill is set to see a further 1,661 new apartments in the next two years.
Rents have been one of the biggest issues during COVID-19, with inner city apartments in particular seeing significant declines.
Unit rents have been hit the most, with falls over the last three months in both Sydney and Melbourne reaching two per cent.
Buyer’s agent Rich Harvey said buying new apartments in outer suburban areas like Rouse Hill made no sense.
“While it may be nice to have a shiny new kitchen and bathroom, there is a significant downside price risk as the supply of land for further development is plentiful", Mr Harvey said.
"Investors and home buyers are far better off seeking apartments in locations where land supply is very low and demand for property high.
Mr Harvey said there is a settlement risk for the buyer in a market where prices are declining, if they discover the value paid for the unit has declined significantly.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/14/Top%2010%20oversupply%20areas.jpg" alt=""> *The table lists the riskiest areas in the country in terms of oversupply, based not only on the supply itself but also on low demand for rental apartments, in relation to that supply. Source: RiskWise
Sydney's Gosford will see its apartments grow 72 per cent, with 1,859 new apartments set for completion over the next two years.
Melbourne has the highest number of new apartments, some 4,744 to be finished, which will see their number of apartments grow by over 13 per cent.
RiskWise chief executive Doron Peleg said property investors should be extra cautious of the high degree of risk associated with off-the-plan units, that has further increased due to the COVID-19. 
"The equity risk, being the risk for price reduction that already had been high prior to the COVID-19, has further increased as investor activity is lower, and their awareness of the risks associated with rental apartments has increased", Mr Peleg said. 
"COVID-19 has also increased materially the cash flow risk, as vacancy rates, as per SQM, are at an all-time high peaking in May at 16.2 per cent. In June they dropped slightly to 13.8 per cent."
Mr Peleg said that the high-profile issues around cladding and defects has created enormous ‘reputational damage’ across the entire industry and because of this, investors have lost interest in high-rise unit developments and were turning to “safer” house-and-land packages suitable for families. 
Pete Wargent, co-founder of AllenWargent property buyers, said that units, particularly off-the-plan purchases, still carried a high level of risk of significant price reductions.
He noted that uncertainty in the economy has been heightened in 2020, and that buying into oversupplied areas at a time when the international borders are effectively shut this would only serve to compound risks.
Mr Wargent said that rental markets have been weak for inner-city apartments due to the absence of international students and tourists, and that where possible buyers should look towards more supply-constrained markets and assets with a genuine scarcity value.
“Over the medium to longer term, it’s the land value component of the asset that does the heavy lifting for you and, therefore, buyers should look for a high land-to-asset ratio. The unit oversupply issue has been with us for some years now, and outperformance has mainly been in family appropriate dwelling types in markets where demand is consistent and new supply has been restricted” Mr Wargent said.
 
 
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