Sydney apartment project secures $85 million in sales at launch

A new apartment development in Sydney’s Norwest has achieved over $85 million in sales within hours of its launch, defying the winter property market slowdown.

Sekisui House Australia’s Veue Parkside project, part of The Orchards masterplanned community, saw strong demand at its launch event on the weekend.

More than 150 people registered to attend the launch, with over 80 apartments sold in the initial release.

David Lee, Sales Manager for Apartments & Mixed-Use Developments at Sekisui House Australia, said the event attracted a diverse range of buyers.

“Buyers came in large numbers to secure a carefully curated apartment in Veue Parkside, an architectural masterpiece,” Mr Lee said.

The sales included a mix of one, two, and three-bedroom apartments, as well as townhouse-style units and penthouses.

Prices ranged from $690,000 for a one-bedroom apartment to $3.3 million for a four-bedroom penthouse, which equaled the record for the most expensive apartment purchase in the project.

Mr Lee noted that downsizers seeking larger living spaces and young professionals looking for work-from-home options represented the largest cohort of purchasers.

The Veue Parkside development, which forms stage 4 of the wider Veue project, will comprise 156 apartments across two buildings of 9 and 14 storeys.

The entire Veue development will feature 577 apartments upon completion.

The strong sales result comes despite challenging conditions in the broader property market, with rising interest rates and cost of living pressures impacting buyer sentiment in recent months.

However, the success of the Veue Parkside launch suggests continued demand for well-located, quality apartments in Sydney’s growth areas.