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Townhouse sales hit a bullseye in Melbourne

Buyers wasted no time at the release of 23 new townhouses in Point Cook on May 13, producing a sell out within 48 hours. Of the 23 townhouses released for sale on the Saturday, 22 were sold that day and the only remaining property was snapped up on Sunday. Sales tallied $11.5 Million for the weekend.

The release, ‘Collection 1’ at the CIRQ Point Cook project, delivered by the new Development Victoria group, is the first allocation out of a total of 104 new homes planned for the townhouse development.

Townhouses more affordable

The rush to buy reflects the growing demand for the townhouse lifestyle in Melbourne. The appeal is understandable. Townhouses are usually more affordable than a detached house and land (either new or established) and give young families the opportunity to own a brand new, well designed home, with more breathing space than an apartment. And when the development’s in an established suburb homeowners are close to all the infrastructure of kindergartens, schools, shopping and transport.

Of course, these benefits have appeal for other buyer types too, including owner-occupier couples, empty-nesters and investors.

Existing infrastructure attracts buyers

The sell-out Point Cook project offers many of the benefits of a good Melbourne middle-ring townhouse development, with proximity to a town centre, established parks and a freeway link to the CBD.
The primary market for townhouses like CIRQ Point Cook are first-home buyers, but downsizers are also particularly keen. Retirees downsizing from the family home to a townhouse can invest the balance of funds unlocked from the family home sale in superannuation or other endeavour. The townhouse is easier to manage, while often still offering some outdoor garden space, so highly prized by Melbourne homeowners. The amenities of the new townhouse also offer a safer environment for older retirees, who can be prone to injury in the course of managing and maintaining a large home and garden.
New townhouse developments are playing a growing role in the invigoration and densification of Melbourne suburbs, providing more affordable and more convenient homes in key locations across the city. And the demand keeps growing too.

If you would like more information about townhouse development and construction in Melbourne, SAW Constructions are pleased to help. Call us, on (03) 9550 0700.