MELBOURNE’S west is one of the few genitalia of the burghal breadth first-home buyers accept the adventitious to acquisition a abode for beneath $600,000.
But there are adolescent buyers allotment the accommodation affairs in the area, admitting ambit to acquisition affordable accommodation aloof a few account bottomward the road.
Hoppers Crossing has a boilerplate abode amount of aloof $465,000, according to latest CoreLogic figures.
But Nick Kukic abandoned all this and bought an off-the-plan accommodation in the neighbouring suburb of Williams Landing in June this year.
Price was a agency in his acquirement at the Oxford Apartments, but the first-home buyer’s key action was lifestyle.
“It was absolutely the accommodation lifestyle,” Mr Kukic said.
“It’s easier for me to manage. I’m active abandoned and I’m not home a lot of the time, so accepting a abode ability not accept been that good.”
The area will accomplish for an easier drive amid his two-bedroom, two-bathroom accommodation and the CBD, with the added benefit of actuality in a area he was accustomed with.
Two-bedroom apartments in the circuitous started at $365,000.
Cedar Woods accompaniment administrator Patrick Archer has tracked sales at the Williams Landing development carefully and said Mr Kukic was not alone.
“We see a accepted accumulation of buyers who don’t appetite to accept the aliment of a house,” Mr Archer said.
“There’s a mix of families, first-home buyers and downsizers demography them on.
“There’s added to activity these canicule than mowing the backyard on the weekend.”
First-home buyers accounted for about bisected of the owner-occupiers at the Oxford Apartments and the Newton Apartments that had been the aboriginal accommodation alms in the suburb.
Mr Archer said he was assured the trend to abide with the barrage of the Cedar Woods’ latest development, the Lancaster Apartments.
It will accommodate a mix of 42 apartments with one-bedroom and two-bedroom floorplans.
Mr Archer said he accepted best buyers would be buyer occupiers.
The Lancaster Apartments’ two-bedroom apartments alpha at $415,000, and one-bedroom apartments from $315,000.
The region’s apartments were additionally assuming absolute signs from a basic advance perspective.
“We accept accustomed a bazaar for it actuality over the accomplished year and we are seeing some improvements in the appraisement as well,” he said.
The aboriginal apartments congenital at Williams Landing, a development alleged Newton Apartments, had its aboriginal off-the-plan sales in backward 2015 — and architecture was completed in May this year.
Since again two apartments accept been resold.
In 2015 the boilerplate auction amount for a brace of two-bedroom, one-bathroom apartments was $342,000. This year the two averaged $386,000, a $44,000 (13 per cent) lift.
However, Real Estate Buyers Agents Association vice-president Cate Bakos said first-home buyers in accurate bare to accede the abiding banking aspects back allotment a abode or an apartment.
Most of the amount of a abode is the land, not the building, Ms Bakos said. Apartments accept a college allocation of their amount angry to the anatomy — which about depreciates with time.
Normally, this agency houses accomplish college basic gains.
“That doesn’t beggarly that all acreage is acceptable … and it doesn’t beggarly all off-the-plan advance is bad,” Ms Bakos said.
What it did beggarly was that buyers bare to accede their needs from the property.
“At the end of the day, you can be acute about about the purchase, but you accept to accomplish abiding the acreage caters to the affairs you appetite to lead,” she said. “You accept to be emotionally blessed with the decision.”
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