Melbourne apartment median value up 0.1% in January: What you can buy for the new median

Apartment investors were given a boost over January, with unit rents holding firm having declined 7.8 per cent over the past year.

Melbourne apartment median value up 0.1% in January: What you can buy for the new median
Urban has taken a look at five apartments blocks to secure under or around the median apartment value

The Melbourne apartment market has continued to see price growth at the start of 2021 following a strong run toward the back end of 2020.

The median apartment value was up 0.1 per cent, according to data analytics firm CoreLogic, following from 0.6 per cent gains in December and 0.7 per cent gains in November.

The gain sees the median apartment value hit $577,206. Apartment investors were given a boost over January, with unit rents holding firm having declined 7.8 per cent over the past year.

Urban has taken a look at five apartments blocks to secure under or around the median apartment value.

1. Collins & Bates, Chadstone

Price: Two bedroom apartments starting from $520,000.

In the 98 residence Collins & Bates, you can secure a two bedroom apartment for well below Melbourne's median apartment value. Prices for two beds start from $520,000, with one bed apartments from $420,000. All three bedroom residences, which started from $1 million, are sold out.

Aultun Property Group are the developers behind Collins & Bates. They had Point Architects design the residences and had C&C Interiors handle the interiors which feature Caesar stone bench tops, porcelain splashbacks, Bosch appliances, wool carpets and engineered oak timber flooring.

2. Hurstmon, Malvern East

Price: One bedroom apartments starting from $449,000.

Landream's Hurstmon development, set for completion in early 2022, has one bedroom apartments available from as low as $449,000. Their two bedroom apartments are a step up, starting from $795,000.

Designed by Telha Clarke, the 39 residence development is surrounded by stately trees and lush, established gardens.

3. Verre, Preston

Wolf&Lamb's Verre development, set for completion in early 2022, has one, two and three bedroom residences on offer with prices ranging from $385,000 to $815,000.

The 57 residence complex has been designed by Chamberlain Architects.

4. Melbourne Grand, Melbourne

Price: Two bedroom apartments starting from $569,000.

Winner of the HIA Victorian apartment complex of the year for 2020, the Melbourne Grand has its two bedroom apartments starting from $569,000, just below Melbourne's median apartment price.

The 652 unit project, developed by Central Equity, offers a range of one, two and three bedroom apartments priced from $489,000.

5. Volaire, West Melbourne

Price: Two bedroom apartments starting from $599,000.

Just above Melbourne's median price are two bedroom apartments in the 159 apartment development Volaire. The Cbus Property-developed project spanning 10 levels has been designed by Hayball to pay homage to the site's industrial heritage with its architectural façade.

The triangular building features cantilevered balconies and occupies its own island site with a ground floor restaurant.

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Melbourne Median Growth Home Prices

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