First home buyers have leapt at the chance to enter Sydney's property market, snapping up apartments priced from $395,000 in Blacktown's first premium residential high-rise building.
It's estimated first homebuyers made up 25 per cent of the day's purchasers.
Buyers queued early to sign contracts. By 2pm more than 90 per cent of apartments had changed hands, with the top-selling apartment a three-bedroom selling for $775,000. The development is believed to have set new records, with prices per square metre reaching more than $8000.
Colliers International Residential Project Marketing Director David Chittenden said buyers were a mix of local owner-occupiers and investors, with first home buyers a strong showing - many taking advantage of the government grant, and some help from their parents.