Three best Melbourne apartments under $400,000, offering an accessible pathway to homeownership
The affordability gap is continuing to grow between houses and apartments, having reached record highs earlier this year.
It's seen a wave of buyers give up on the house hunt, and turn to the fixed price apartment purchases.
There are a number of developments on the market under $400,000 across Melbourne, which we've wrapped up below.
1. Cultivate, Heidelberg West
Developer: Kincaid Projects
One-bedroom apartments from $399,000
Cultivate delivers an affordable collection of one, two and three-bedroom apartments that border Heidelberg West and Ivanhoe.
Situated on the fringe of Melbourne's top hospital precinct, minutes from La Trobe University and at the quiet, tree-lined end of Bell Street, the development features 146 apartments across two towers.
Cultivate boasts impressive one-bedroom, one-bathroom residences for just $399,000, including the choice between two colour schemes, Smeg appliances and premium finishes.
Residents will have access to a rooftop barbeque area, skyline views and bike parking.
2. Due North, Preston
Developer: Caydon Property
One-bedroom apartments from $352,000
Climbing 12 levels and comprising 107 apartments, Due North is a new fur-friendly apartment addition to Preston's High Street.
Designed by Caydon Architecture, the 50 sqm one-bedroom, one-bathroom apartment is priced at $352,000.
Located just 20 minutes away from Melbourne’s CBD and featuring rooftop space, a co-working area and three retail spaces, residents will have everything at their doorstep at Due North.
Splash the day away in the pool and dip into stunning Melbourne views as you kick back on the deck and soak in those holiday vibes.
3. Spring Street, Box Hill
Developer: Orion International Group
One-bedroom apartments from $395,000
Comprising 312 one, two and three-bedroom apartments, Spring Street is a new development attracting both investors and first home buyers.
Located in the heart of Box Hill, the mixed-use development features the best of both worlds, it’s set in a quiet and leafy area while enjoying convenient public transport, local shops and cafés.
Designed by Elenberg Fraser, one-bedroom, one-bathroom apartments at the residence begin from $395,000, with accessible ground floor retail and dining options.
The development will also feature a 25-metre pool with a spa, a sauna, gym, yoga room and more.
