Third.i is excited to be a part of industry-shaking initiative, NestDeposit, a solution that allows property purchasers of all categories to secure their home with just a $10,000 deposit. NestDeposit will be available at Third.i’s new residential project, Elevate Hume Place, set to launch at Crows Nest Fest on Sunday, 20 October 2024. Situated directly above the recently opened Crows Nest Metro Station, this exceptional development will offer 130 one, two- & three-bedroom contemporary apartments, thoughtfully crafted by Woods Bagot.
NestDeposit aims to break down traditional barriers to property ownership, helping a wide range of purchasers including first-home buyers, investors, and downsizers, find a pathway to homeownership at a critical time in Australia’s property market. This game-changing solution comes as public discourse around housing affordability and home ownership intensifies. Recent polling and research by Redbridge and Accent revealed that 85% of Australians believe young people cannot enter the property market without family assistance.
Additionally, the 2024 PropTrack Housing Affordability Report indicates that the average Australian household takes approximately 5.6 years to save a 20% deposit for a median-priced home. These findings highlight the need for solutions like NestDeposit, as emphasised by Luke Berry, Co-Founder of Third.i, to help bridge the gap to homeownership for potential buyers.
“At Third.i, we’re always looking for innovative ways to help Australians achieve their property dreams. NestDeposit addresses the challenges of rising living costs, house prices, and the long savings periods needed for traditional deposits, making homeownership more accessible for buyers across the country.
“We’re excited to offer NestDeposit at Elevate Hume Place, giving more people the chance to secure a home in a prime location above the new Crows Nest Metro. At Elevate, residents will enjoy seamless connectivity, stunning homes, upscale communal amenities, and an area that beautifully combines urban convenience and community charm,” said Mr Berry.
Using NestDeposit is straightforward. Buyers can register on the platform to view eligible properties like Elevate Hume Place. After pre-qualification they can secure a property with just $10,000, paying the remaining 10% deposit through monthly instalments.