The most popular Melbourne suburbs for rightsizers in September
The number of new loan commitments amongst owner occupiers (rightsizers) while beginning to taper off, remains up 33.5 per cent for the year, according to the ABS.
While not as exaggerated as earlier this year, ABS data shows that new loan commitments by the demographic fallen most strongly across newly built dwellings.
This can be attributed in part to spring selling season with the market's stock growing and reducing the competition as demand wavers, while the skyrocketing growth towards the start of 2021 was due in part largely to a number of government initiatives including the HomeBuilder Grant.
Despite this new and existing owner occupier loan commitments have continued to make solid ground. Urban has highlighted the developments in the suburbs most popular amongst rightsizers for the month of September.
Hawthorn East
Hawthorn East is consistent feature on the most popular investor and first home buyer suburbs list as one of Melbourne’s most blue chip suburbs.
One development highlighting this nature is Hawthorn Park, close to the shops and restaurants on Glenferrie, Burke, Auburn, Burwood, and Riversdale Roads.
The recently completed Hawthorn East development is surrounded by heritage homes and buildings, cafes, boutiques and bars, in addition to a well connected public transport system.
Dahua Group had architecture firm ROTHELOWMAN, one of Australia’s leading architecture practices, collaborate with the landscape architect Jack Merlo on the Camberwell Road development of 330 residences.
Residents enjoy the property’s landscaped green spaces and parks that feature fruit and vegetable gardens for dwellers to grow their own produce. The project also features a sky boardwalk, splash pool, sky lounge, massage suites and fully-equipped gym.
Brunswick
Brunswick is a popular spot for the owner occupier demographic, among first homer buyers and those buying their second home and beyond in Melbourne's north.
When COVID lockdowns lift, Brunswick will again be home to live music, upbeat pubs and beer gardens. At the area's heart, Sydney Road has Middle Eastern and Mediterranean eateries, offbeat shops, shisha lounges and cafes along its considerable length. Neighbouring East Brunswick is more upscale, home to upwardly mobile professionals and craft-beer bars.
It is a true lifestyle destination with 4 Ballarat Street proven consistently popular in the area, due in large part to it's location.
Located in the heart of Brunswick, a popular location for cafes and restaurants, Assemble Futures are also offering a rent-with-the-option-to-buy model which has made this development particularly popular amongst first home buyers.
Designed by Fieldwork Architects and with landscaping by Rush Wright, 4 Ballarat places an emphasis on providing a seamless transition to the natural environment, with each apartment running on 100% renewable energy.
Geelong
Geelong has remained consistently popular among buyers of every demographic, making an appearance on many of Urban's top investors suburb lists.
For good reason, as one of Urban's most popular projects, Ryrie Home, find's itself in Geelong. Ryrie Home sits in the heart of the regional city’s art precinct, pitching its proximity to Melbourne and cheaper housing prices as a drawcard for investors and owner-occupiers alike.
The project was listed as Urban's most popular investor project for Q1 2021 thanks to Geelong’s low vacancy rate of 1.7 per cent and the 10 per cent per annum growth in apartments over the last three years.
The transport improvements in Geelong, including the $100 million fast rail and the $6.7 billion Westgate Tunnel which will shave 20 minutes off any commute, has rightsizers keen on securing a property in the growing area.
Designed by Architectus, the project boasts an authoritative and restrained grid façade, pedestrian laneways, commercial retail, and F&B spaces, as well as hotel and residential lobbies.
Chelsea Heights
Chelsea Heights, in Melbourne’s exclusive Bayside precinct, is one of the most-sought after, and most expensive, areas of real estate in Victoria.
So it's no surprise that Sixth Avenue's premium location appeals to all kinds of owner occupiers. Chelsea Heights features great access to arterial roads such as the Mornington Peninsula Freeway, Eastlink, Nepean Highway and Beach Road.
Designed by Point Architects in the near coastal suburb Chelsea Heights, south-east of Melbourne, Sixth Avenue features light-filled interiors, bespoke landscaping and recreational amenities within easy reach.
Boasting a collection of 59 two, three and four-bedroom residences, they are surprisingly affordable with prices starting from just $630,000 for a two bedroom townhouse and $730,000 for a three bedder.
