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Artists impression of the luxury terrace apartments

Oct 2023

Amid a Troubled Market, Australia’s Developers Are Still Upping the Ante - Mansion Global

MANSION GLOBAL

Amid a Troubled Market, Australia’s Developers Are Still Upping the Ante

New luxury developments this season include lavish apartments in the Gold Coast, a garden-centric Melbourne project and more

By Kirsten Craze

Originally Published Oct. 1, 2023

Australia’s developers are having to prove their level of luxury and staying power amid a variety of pressures facing the country’s housing market. The Australian construction industry is in turmoil with more than 2,000 small, medium and large builders and developers collapsing over the past two years, more than two a day, in the face of rising interest rates, inflation and supply-chain issues, according to data from the Australian Security and Investments Commission. But those who have remained are holding their own, especially across the more populous eastern seaboard locations where “lifestyle” is still king. Indeed, access and views of water is high on new apartment buyers’ wish lists, so are in-house wellness facilities and meticulously curated interiors by revered designers. Plenty of low-rise boutique developments and high-density projects are in the pipeline, and new apartments are still selling with big price tags thanks to a critical housing shortage across the board. This collection of new developments demonstrates that even in the midst of a cost-of-living crisis, builders still see the need for prestige property in the Australian real estate landscape.

Le Onde, 30 Fairlight St., Fairlight, Sydney.

With only five apartments, Le Onde in Sydney’s sought-after Northern Beaches region has been built with a focus on living by the ocean. Each residence is positioned to make the most of both northern and southern aspects with its exterior and interior design inspired by the water. Designed by internationally recognized architectural firm DKO, Le Onde’s facade showcases curved sculptured walls with private balconies to feature cascading greenery curated by landscapers Black Beetle. Le Onde’s internal layouts have spacious living areas opening to the al fresco zones complete with integrated barbecues, and each kitchen comes with sculptured marble counters and brushed-nickel hardware. Four of the homes measure between 1,453 and 1,506 square feet, while the top floor penthouse houses nearly 2,000 square feet of interior living space.Ideal for downsizers, the apartments have integrated storage solutions, study nooks, external and interior LED lighting, automated lighting control, multi-zone ducted air conditioning, intercoms, elevator access to every home and keyless entry. Maintaining its small-town vibe, Fairlight is a popular harbor foreshore suburb between famous Manly Beach and exclusive Balgowlah within easy access of family-friendly swimming spots with postcard views of Sydney Harbour. Close to a small strip of shops and eateries along Sydney Road, Fairlight residents have ample choice of lifestyle amenities at their fingertips while being only 8 miles northeast of Sydney’s CBD.

Sales launched in August, and construction is expected to be completed by March 2025.

Number of Units: 5

Price Range: A$4.55 million to A$8.8 million

Developer/Architect: Adjani/DKO Architects

Residence Sizes: Three-bedroom apartments and a penthouse with a multipurpose room as a possible fourth bedroom

Amenities: Le Onde has no shared resident facilities.

Website: leonde.com.au