First home buyers at Ovation Footscray given free car on purchase

Astute developers are acutely aware of the impact first home buyers have on the off the plan property market, and are prepared to offer their own incentives

First home buyers at Ovation Footscray given free car on purchase
Ovation's facade, designed by KUD Architects

First home buyers have propped the real estate market up since the pandemic hit Australia last March.

A country-wide trend, Victoria saw 44 per cent more loan commitments to first home buyers over the 12 months to April.

And in attempt to gain the market share, astute developers are prepared to offer their own incentives to attract the growing cohort of buyers looking to get on the ladder for the first time.

In their latest Footscray apartment development Ovation, Keystone Property Group are offering first home buyers a free car when a buyer settles on a purchase of an apartment.

Each first home buyer will be given a brand new Volkswagen Polo, valued at $25,000.

Entry level apartments in Ovation, the Buckley Street development designed by KUD Architects to reflect Footscray’s industrial past, start from $367,500.

The one bedroom apartments with a car space start from $410,000.

Two bedroom apartments are priced from $540,000, still well below Melbourne’s growing $605,000 apartment median. There are a handful of three bedroom apartments, which span 143 sqm, which start from $900,000.

There will be 131 apartments in the contemporary building set in a prime location within walking distance to Middle Footscray Station.

Completion of Ovation is slated for mid-2022.

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 new developments across the country

Footscray Ovation Keystone Melbourne apartments

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