Melbourne suburban townhouses proving popular as the next generation in family living

Melbourne suburban townhouses proving popular as the next generation in family living
Nicola TrotmanDecember 7, 2020

The final stage of the popular bayside development Central Park in Cheltenham will be released this weekend, as townhouses are proving to be the next generation in Australian family living.

Located at 100 Cavanagh Street, Cheltenham, Central Park (pictured below) offers a range of six different contemporary home styles, all named after flowers.

Property Observer reported on the R.Corporation development in November last year, with stages one, two and three completely selling out.

The final stage will consist of two and three bedroom townhouses priced from $499,500 and will be launched over a winter garden party with mulled wine and crepes on Saturday July 13.

Eight townhouses are already reserved by registered clients, with more expected on the day.

“We are thrilled with the success of Central Park and look forward to our first residents moving in later this year,” says Rohan Ames of R.Corporation.

“The outstanding response is due to the quality of the designer townhouses within the bayside locale and at an attainable price,” says Ames.

The median house price in Cheltenham is $600,000, a 14.3% increase in the past five years, according to RP Data.

The demand for townhouses comes as the traditional family block of land is becoming smaller, according to findings from the National Land Survey Program, which monitors the performance of the new house and land market across Australia.

“These smaller lots are now priced $21,000 higher than what they were three years ago,” says director of ResearchFour Colin Keane.

“Most families buying on Melbourne’s outer fringe are travelling 15 kilometres further to secure a block of land that is only 70 square metres bigger, at a price point which is similar to a new well designed townhouse from where they came,” says Keane.

Clara in South Yarra was R.Corporations first generation of townhouses and the second generation saw the rise of Park Terraces in North Melbourne and Central Park in Cheltenham.

R.Corporation’s The Grove in Maidstone, specifically the Jasmine townhouse, is the third generation of townhouses to come from the developers, with a floor plan that can easily adapt to changing needs and lifestyle impacts.

Located on Crefden Street, The Grove townhouses will be three-storey with two bedrooms, two bathrooms and feature a balcony and front landscaped garden by Paul Bangay.

Buyers will have the choice of two different designs – Jasmine and Lily – with the Lily design starting from $450,000 and the Jasmine design starting from $480,000.

Stages one and two have completely sold out since launching in March, with the third stage being released this weekend.

The median house price in Maidstone is $485,000, a 15.5% increase in the past five years, according to RP Data.

Guests at the winter garden party for Central Park will also have the chance to win a weekend for two to Paul Bangay’s brand new bed and breakfast Stonefields in Denver.

Nicola Trotman

With a penchant for the written word, Nicola has built a career doing just this – now Creative Director at thriving Melbourne-based PR agency, Greenpoint Media.

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