Australand's Carlton development Local more than half sold as first-home buyer deadline draws nearer

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Australand's Carlton development Local is selling briskly, with less than a week left until the Victorian government's $13,000 first-home bonus expires on June 30. The bonus applies to all properties purchased by first-home buyers under $600,000 until this date.

Some 68 of the 116 apartments have sold so far, and 35 of these have been since the start of the year. 

Owner-occupiers made up 45% of these sales, with overseas and local investors comprising a quarter each. First-home buyers have made up just 5% of the sales so far.

The Local project, which launched in early November, will comprise two low-rise buildings, one designed by Fender Katsalidis architects and the other by ARM Architecture. 

One-bedroom apartments will range in size from 44 to 54 square metres and cost between $350,000 and $450,000.

The majority of the development will comprise two-bedroom apartments ranging in size from 64 square metres to 74 square metres. Prices range from $500,000 to $670,000.

There will be six three-bedroom apartments of between 91 and 96 square metres. Prices start from $780,000 for these units.

Sarah Bloom, development director, built form, of Australand, says the inner-city location appeals to buyers.

“Located only 1.6 kilometres from the CBD, Local is at the very heart of what makes cosmopolitan Carlton the perfect inner-city lifestyle location,” Bloom says.

“Bounded by Palmerston, Canning and Elgin streets, residents will enjoy gracious tree-lined avenues, while stylish restaurants and cafés, great shopping, cinemas, and some of the city’s oldest parks and gardens are all conveniently located.”

Both buildings will have six green star sustainability ratings, with features such as water-efficient fixtures, solar-boosted hot water, rainwater harvesting and future-proofing for greywater supply.

The Fender Katsalidis building includes a communal rooftop with barbecue area and pizza oven.