DEVELOPER Merhis Living has broken ground at the site of its 20-level Inspire Blacktown project, which will include 184 apartments chiefly aimed at first home buyers.
The group’s marketing director, Anthony Aoun, said interest rate certainty remains a key motivator for young people and couples looking to break into the Sydney property market.
He said 72% of the group’s apartments in Blacktown – it has three projects in the western Sydney hub – are priced at levels that qualify first home buyers for the full state government stamp duty concession and the first home buyer grant.
“These buyers have long-term views on property investment and we’re finding that low mortgage rates and exiting the rent cycle are key motivators,” Aoun said.
Apartments are prices from $435,000. Most are configured with two-bedrooms and two-bathrooms.
Aoun said “a majority” have sold.
Inspire Blacktown is positioned 100 metres from Blacktown train station, and a short walk to Westpoint Shopping Centre.