First home buyer demand sees Monolith nearly sell out Waverley Village, Mulgrave townhouses in two days
The Melbourne developer Monolith saw a flurry of sales following the launch of its Waverley Village development in Mulgrave in south east Melbourne.
They have secured over 80 per cent of sales in just two days, with just a handful of townhouses remaining of the 28 offered.
It was local first home buyers who drove the sales, Monolith's sales and marketing manager Tyler Guo said.
Guo said that the the main attraction which has been driving enquiry and buyers is the architecture and design of the townhouses, as well as the affordable price point.
Another likely driver for buyers according to Guo was that Waverley Village is the last undeveloped piece of land in Mulgrave where it is possible to build a community-style development.
Designed by Parallel Workshop Architects, the three bedroom townhouses are priced from around $770,000, with first home buyers will to pay up to $835,000 for the top-end three bedroom residences.
The four bedroom townhouses were mainly picked up by downsizers, with priced ranging between $915,000 to $990,000.
The speed of the near sell out has prompted Monolith to fast-track stage two of Waverley Village, two apartment towers comprising 100 units.
It will be the same concept for Monolith, targeting first home buyers with an affordable entry point and offering a high spec design of the apartments.
The towers, which will be in keeping with the townhouse design, will be between seven and eight levels tall. They will home a number of amenities which the townhome residents will also have access to.
Sales were initially slated to start at the start of next year, but Guo says it will likely be before the year is out.