Urban's most popular suburbs for Melbourne apartment buyers in March
Apartment buyers are continuing to head back to the Melbourne CBD in droves, following the COVID-induced exodus from the city a number of years ago.
Urban.com.au data found the Melbourne 3000 postcode was the most popular suburb across Victoria in March, particularly for first home buyers. The CBD, and surrounds, have a number of off the plan and ready to move in apartment developments currently on the market.
We've crunched the numbers and looked at the top three most searched suburbs in Victoria on Urban across March.
Melbourne
The Melbourne 3000 postcode was again the most searched suburb on Urban in March, making it the most searched across the quarter.
The growth in migration has seen a number of prospective buyers seek out completed stock, with construction timelines currently fairly problematic, and a rental market as tight as it's even been.
Brady Group's 380 Melbourne has been one of the most popular projects in March. The twin tower project is home to a mix of one, two and three-bedroom apartments, which start from $570,000.
Designed by Elenberg Fraser, the 65-level towers are located in the heart of the city on Lonsdale Street.
The towers also include 300 hotel suits, along with a retail and cafe arcade, which links the development to the public domain through a low-lying podium that resembles a cascading ripple.
An array of resident's only amenity has also been incorporated, with a resident's lounge and a games room with table tennis, air hockey and foosball tables.
There's also a private cinema and karaoke room, along with steam rooms, a sauna, private bar dining and lounge areas, a rooftop garden, 25-metre heated lap pool, and an outdoor terrace with barbecue facilities and seating.
Southbank
South of the Yarra River has been another hotspot for buyers across March, with the well-connected suburb known for its vibrant atmosphere, modern architecture, and views of the city skyline.
The most recent collection of apartments to hit the market is the second tower in OSK Property's near $3 billion billion masterplan, Melbourne Square.
The latest release, which follows the recently completed East Tower, comprises 610 one, two and three-bedroom apartments, starting from $521,000.
The tower is one of the first residential projects in Australia registered to pursue WELL Certification. It offers a podium gym, spa, sauna, and a 25 metre indoor swimming pool, as well as a Zen garden, alfresco dining area and BBQ facilities.
The tower is expected to be completed in late 2026.
The most recently completed apartment tower in Southbank is Central Equity's FOCUS, which has proved a popular choice for locals who want to remain near the city while enjoying a neighbourhood feel.
The 50-level building, with a mix of one, two and three-bedroom apartments starting from $499,000, is ideally located on City Road.
Buyers have been sold on the location of FOCUS, which places residents on the doorstep of the arts precinct and its upcoming $1.7 billion revamp.
"Southbank has a leafier feel than the city," Central Equity's Sales Manager Neil Singh says, adding that the suburb still offers all the pros of inner-city living.
"Within minutes, residents can be at the NGV and Arts Centre, or walk less than a kilometre to reach the Queen Victoria Gardens."
Brighton
Melbourne's bayside has long been a sought after address for buyers, with more and more developers taking to the idyllic oceanside for their residential developments.
One of the most popular projects is Martin Brighton, a rare offering in the exclusive suburb due to its interiors, which have been crafted by the legendary Miriam Fanning's MIM Design.
Over 40 per cent of its 11 two and three-bedroom apartments have been snapped up. Luxury developer EBG Developments has recently released an incentive offer for buyers. Their discounted five per cent deposit (half of the standard 10 per cent deposit across other projects) - will sit in a high interest account and earn seven per cent per annum, until the project is completed, which is expected to be in early 2024.
One of Brighton's most recently completed projects, 448 Brighton by Sunkin Property Group.
The project has just 20 apartments starting from $1.4 million.
It was designed by renowned architecture firm SJB and sits in landscaped gardens by the equally renowned Jack Merlo.
The kitchens are the focal point of the apartment, featuring a sculpted natural marble stone benchtop and appliances by Gaggenau and Bora.
448 Brighton was named both after its location at 448 St Kilda Street, and its proximity to the beach, just 448 metres. It's on the doorstep of Elwood and Elsternwick Parks and a number of cafes, restaurants and private schools.
