Balwyn North noted for new Victorian prestige builds: HTW

Balwyn North noted for new Victorian prestige builds: HTW
Balwyn North noted for new Victorian prestige builds: HTW

Mid-range three to four bedroom home builds around Melbourne's western fringe suburbs of Point Cook, Tarneit, Wyndham Vale and Williams Landing on 150sqm are going for around $1,000 to $1,250sqm, according to Herron Todd White.

In the August Month in Review, HTW gave the example of a home in Tarniet, built in 2008 on 162sqm, that sold in June for $365,000 as a recent example.

Construction rates for the high end prestige sector range from $3,500 to $5,500 per square metre and are "a significant rise from the 2009 report figures of $2,500 to $3,000, indicative of the labour intensity of such builds" the report states.

A recent high-end construction in Balwyn North with five bedrooms, European oak parquetry, and views on a land area of 828 square metres is worth approximately $4,132 per square metre. It sold recently for $4,428,000.

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

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New Developments Victoria

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