North Fitzroy development Graphite appeals to first-home buyers as government bonus deadline looms

North Fitzroy development Graphite is more than half-sold three weeks after it launched in mid-May as first-home buyers secure apartments for under $600,000 before the Victorian government’s first-home buyer bonus ends on June 30.

The bonus provides $13,000 – in addition to the federal government’s $7,000 – for first-home buyers who purchase property under the $600,000 threshold before June 30.

BPM Construction Group’s Graphite will comprise 46 one- and two-bedroom apartments, with prices starting from $359,500 for one-bedrooms and $530,000 for two-bedders. Some 37 are priced below the $600,000 threshold. 

The colour palette will match its name, with greys and neutral tones used in the external and internal designs.

Interior designer Mim Design director Mim Fanning says the colours and materaials of timber, concrete and metal are designed to complement the Fitzroy North surrounds.

“Graphite apartments have been planned to create the feeling of being large units – but at the same time they are very compact and fitting for their inner city address,” Fanning says.

“The interior finishes meld the sophistication and lighting of a gallery, the luxury and authenticity of restaurant kitchen and the warm, homely feel of a local café.”

The median unit price in North Fitzroy is $457,500, according to RP Data, and the median unit price has fallen 23.6% in the past year.

In keeping with the green recent trend towards sustainable transport, all of the apartments in Graphite will come with bike parking spaces, though only some will have car spaces.

Construction is due to begin in early 2013 and be completed in mid-2014.