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Aqualand's AURA project breaks sales record: $100M in February

Market Insights
1 week ago
2 minutes

Prominent Australian property development firm, Aqualand, has successfully garnered a record-breaking $100M in sales for its AURA endeavour in February 2024, with these impressive figures showcasing the escalating demand for luxury apartments in Sydney.

This robust sales volume signifies the highest level earned in a non-launch month for the North Shore region. Notably, the sales figures for March are anticipated to surpass this record. 

"Considering we hadn't just launched the project, or even released a new stage, this is by far the most impressive month I've seen in my career to date, and as far as we know it also exceeds every other project currently in market in Sydney, in terms of February's sales volume," said Aqualand's Head of Sales and Marketing, Alex Adams.

Adams asserts that the success of February's sales can be attributed to both internal and external market influences. 

"We’ve found potential buyers who had previously enquired but weren’t quite ready to commit have recently returned to the market," he continued.

"Those waiting to transact closer to the building's completion have now seen its construction progress and have made the decision to buy."

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AURA by Aqualand 

Reflecting on the company's strategic changes that have undoubtedly spurred sales, Alex shared, "We also recently completed a number of stunning display apartments on levels six and ten of the building, which clearly showcase the outstanding build quality and high level of finishes. 

"Our new year strategy to open the display apartments has definitely increased conversion."

Moreover, present market conditions, such as steady interest rates, a shortage of project approvals, and the ongoing transformation of North Sydney are factors that have also aided Aqualand's sales success. 

"The ongoing transformation of North Sydney is also becoming more obvious of late, with the new Victoria Cross Station so close to officially opening, and newer restaurant and retail offerings in the area," Alex explained.

"It’s clear to all that North Sydney's evolution is on track, placing AURA in the right place at the right time."

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The expansive rooftop of AURA, providing unrivalled views of North Sydney 

It appears that families are the leading clientele, but Adams noted a resurgence of downsizer clients resulting in more 4-bedroom purchases, circa $7M in transactions.

"With the housing market stabilising, and even increasing, they now have confidence selling their home," Adams said,

"Also, with the interest rates steadying they can list their homes until they get the price they want."

Lastly, Adams spoke fondly of the timing of AURA's success coinciding with Aqualand's tenth anniversary. 

"It’s the perfect project to celebrate the calibre of products we’ve brought to market over the last 10 years, so it’s exciting we’ll complete AURA during our 10th birthday," he concluded.

For more information on AURA by Aqualand, click here.