Peter Taranto Real Estate is officially launching their newest residential development today - the Metis Apartments at North Wollongong.
The yet-to-be constructed development at 18 Kembla Street consists of two towers. The east tower is four storeys high and the rear or western tower is five storeys.
The boutique building of 17 apartments is now selling off the plan.
Selling agent Rob Austin said the apartments had no common walls and featured only two apartments per level.
All apartments are north-facing and have balconies designed to capture views of the ocean and escarpment.
Mr Austin said the apartments have two bedrooms with built-in wardrobes, timber flooring throughout the living, dining and kitchen, and polyurethane kitchens with stone benchtops and stainless steel appliances.
There is also a single car space plus lock-up storage in the basement car park.
Mr Austin said construction was expected to start within the next few months, with a completion date in middle to late 2015.
The apartments are priced between $515,000 and $569,500.
Sydney rush to buy
Two-thirds of property sales at Ray White North Beach Wollongong have been from out-of-town buyers in the past 12 months.
Agency director Rodney Stone said there had been a noticeable increase in buyers who lived in central Sydney and surrounding western suburbs and from Canberra.
Mr Stone said the Sydney market prices had lifted to such a level that many people were now viewing the Illawarra as a great alternative.
"The proximity to beaches and the Sydney CBD makes Wollongong and other suburbs throughout the Illawarra very attractive," he said.
"The beachside and suburban properties compared to their Sydney counterparts offer value for money."
He added that many Canberra buyers saw the Illawarra as a safe option for buying investment or future retirement properties.
There had also been more investors entering the market, particularly in suburbs around the university and hospital for their rental potential.
Mr Stone said last weekend the agency took 20 couples through a three-bedroom home at 22 Ajax Avenue, North Wollongong, after it had been on the market for only 36 hours.
"Fifty per cent of those potential buyers were from out of the area and predominantly Sydney," he said.
The Ajax Ave solid brick and tile home, for sale at $449,000, features floating floors, lounge and dining rooms, covered alfresco entertainment deck and barbecue area, and a northern aspect backyard. It is open for inspection on Saturday from 10.30am to 11.15am.
Kiama beach offers
Six boutique apartments, most of which directly overlook Kiama's main surf beach and headland, are on the market with Raine&Horne Kiama.
Listed with agent Scott Douglas, the newly completed two-bedroom apartments at 11 Bong Bong Street are for sale from $749,000 to offers of more than $1.8 million.
Mr Douglas said there was a choice of top floor, full-length penthouses with private rooftop terraces.
The development has security access to the front foyer, private garaging and lift access to each apartment.
The apartments are open for inspection today from 1pm to 1.45pm.
In other Raine&Horne Kiama news, agent Terry Rigoni is selling a three-bedroom home at 57 Girrawheen Avenue, Kiama.
Mr Rigoni said the home, close to Kendalls Beach, was designed for modern living and featured an impressive street-level entry.
The well-appointed kitchen was the focal point for design and positioned with expansive surrounding living areas.
A large sheltered deck flows off the dining area and overlooks the adjoining reserve, which leads to a six-minute walk to the beach.
The home will go to auction on Thursday, May 8, at 7pm. It is open for inspection on Saturday from midday to 12.45pm.
The Gong for China
Wollongong has been listed as one of the most-searched regional destinations for Chinese real estate buyers in Australia.
It ranked sixth, with Newcastle second (the Gold Coast was first) in a report that tracks the real estate search behaviour of Chinese buyers in non-capital cities.
The report was based on the amount of interest all Australian destinations received from Chinese property buyers in 2013, according to Juwai.com, the largest property search engine in China.
According to the report, individual investors from China are motivated by profits in underpriced markets, educational opportunities for their children, internationally diversifying their investments and an attractive lifestyle.
The Chinese often chose properties close to educational institutions, with water views, in new or renovated condition, and close to where friends or family were also buying, the report said.
Worth a look
• A 5-bedroom Austinmer house for $1,700,000 + through O’Connor First National
• A 2-bedroom Bulli house for auction through Ray White
• A 2-bedroom Coalcliff house for auction through Belle Property
• A 3-bedroom Gerringong duplex for $525,000 through Raine & Horne
• A 3-bedroom Wollongong apartment for $749,000 through AM Rutty