News | 01 May 2017

Frasers Property halves required deposit

SMP 5% deposit

Choice of home designs for eligible purchasers to move in as soon as September

In a move that will be welcome relief to many first home buyers, Frasers Property Australia has halved the deposit required to secure a new home at Centrale in North Ryde and Tailor's Walk in Botany to just 5 per cent. 

Nigel Edgar, General Manager - Residential NSW, Frasers Property Australia says the initiative makes the purchasing process easier and is a responsible way of helping eligible first home buyers to get a foot in the market. 

"We understand how hard it can be for young people to save the standard 10 per cent deposit for their first home while paying rent and living costs. With this initiative, eligible first home buyers can exchange on an off-the-plan apartment with just 5 per cent off the purchase price," Mr Edgar says. 

"It's imperative that people stay within their financial boundaries, which is why a pre-approved loan from a reputable financial institution is one of the key terms and conditions of this initiative," he says. 

Mr Edgar says first home buyers have a wide variety of apartments to choose from at Centrale and Tailor's Walk, with flexibility surrounding move-in dates, depending on their circumstances and preference. Some eligible first home buyers will have the option of moving into their brand new Tailor's Walk home as early as September this year, or can secure an apartment to move into late 2018.

"We have made the initiative available at Centrale and Tailor's Walk because they have the widest variety of apartments priced to qualify for the $10,000 NSW First Home Owner Grant. It gives first home buyers the opportunity to stop paying rent and move into a new home soon or, alternatively, the choice to wait a bit longer and focus on saving," Mr Edgar says.

"This initiative is about providing the flexibility that first home buyers need around deposits, choice of locations, variety of apartment designs and move-in dates. As such we expect it will prove very popular," he says. 

The offer will run to June 30, so first home buyers are encouraged to enquire now and explore how this initiative could make home ownership a reality for them. 

To ensure it benefits local first home buyers, the reduced deposit is not open to foreign investors and applies to properties worth up to $900,000. 

Centrale is a new community integrated with the North Ryde train station. Located one train stop from Chatswood and 13km from Sydney CBD, Centrale will comprise four residential buildings with 380 apartments in a mix of one, two and three bedroom configurations when complete. One-bedroom apartments are priced from $595,000 to $745,000, while two-bed apartments with a car space range from $870,000 to $970,000.

At Tailor's Walk in Botany, one-bedroom apartments range from $600,000 to $745,000 while two-bedroom designs are priced from $775,000 to $990,000 - making the community a particularly appealing option for first home buyers. 

Spanning 3.1 hectares, Tailor's Walk is a unique community creatively weaved into the increasingly popular Botany area. It will be defined by a selection of beautifully crafted three and four-four bedroom terrace homes and five apartment buildings ranging from six to eight storeys, offering a diverse range of one, two and three-bedroom single level and loft style apartments. 

For further information, visit www.centraleapartments.com.au and www.tailorswalk.com.au or call Frasers Proeprty Australia on 13 38 38.