Metro Melbourne's best off the plan apartments and townhouses completing in 2024
In the wake of the COVID-19 pandemic, Melbourne grappled with substantial economic repercussions and a prolonged period of stringent lockdown measures, surpassing any other global city.
In addition to a relentless sequence of interest rate hikes, coupled with a slump in consumer confidence, it painted a bleak picture.
However, prevailing indications now suggest that the Melbourne property market is on the cusp of a prolonged growth cycle.
Read more: City Beat May 2023: Prolonged growth cycle for Melbourne's off the plan apartment market?
Heath Thompson, director at Projects by Buxton, recently told Urban that the next project, and the next, and the next, all have to be more expensive for the buyer, because both land and build costs are more expensive which impacts the developer's bottom-line.
A surge in buyer demand has been ignited by the recent signal from the RBA, indicating that the official cash rate is nearing its peak, which has many believing that Melbourne's property sector is primed for an imminent boom.
And with that comes the need for new housing options across the state. We've wrapped up the best apartments and townhouses in Metro Melbourne completing in 2024.
Project: Martin Brighton
Address: 129-135 Martin Street, Brighton VIC 3186
Developer: EBG Developments
Due to wrap construction in early 2024, Martin Brighton will be home to just 11 apartments once completed, with a mix of two and three-bedroom floorplans.
Richmond-based multi-residential builders have been constructing the development for EBG, with only a limited number of the bayside apartments remaining.
Sitting at 40 per cent sold, the remaining residences are priced from $1.395 million, with the generously proportioned homes spanning from 103.85 sqm through to 141 sqm.
Buchan Group Architects designed Martin Brighton, with the interiors crafted by the renowned Miriam Fanning's MIM Design.
With a defined aesthetic, yet open to the stylistic interpretation from every buyer, the interiors interplay with contemporary forms, with the seamless indoor and outdoor living spaces offering aspects out over verdant planted balconies to the city and water.
As a further incentive to entice buyers to the development, EBG discounted the deposit to just five per cent (half of the standard 10 per cent deposit across other projects), which will sit in a high interest account and earn seven per cent per annum, until the project is completed.
Downsizers have shown the most interest in the development so far, with the lifestyle Martin's location offers a major drawcard. Located on it's namesake street, Martin delivers the idyllic Brighton lifestyle without the Brighton bustle, with the Martin Street Village one of the suburb's most intimate villages. It's lined with a number of fashion boutiques, cafes, and restaurants, while also only being just over one kilometre to the Bay Trail and Elwood Beach.
Project: Plenteous, Cheltenham
Address: 49 Jean Street, Cheltenham
Developer: Shenfield Property
Another on the list which is expected to complete in early 2024, Plenteous offers a boutique collection of residences, with a mix of two and three-bedroom apartments and townhouses currently being built.
All the two-bedroom apartments have already been sold, with only three-bed floorplans remaining, in addition to a limited number of two-bedroom townhouses.
Situated in a quiet, leafy cul-de-sac, with a parkland frontage, the residences have been designed to provide low-maintenance living, privacy and comfort.
Boasting contemporary interiors by Aldona Padjak, the remaining apartment is priced from $950,000 and spans 129 sqm. There are two-bathrooms along with two car spaces, with each resident afforded secure basement parking and storage facilities.
The townhomes are priced from $925,000 and have been designed over two or three levels, with each adjoining to its own landscaped outdoor space.
Each residence also incorporates energy-efficient features, including individual solar power and provisions for a car charging point in the basement.
Project: Early 3191
Address: 3-11 George Street, Sandringham
Developer: DM Property
Early 3191 is set to redefine Sandringham living.
Designed by architecture-powerhouses Rothelowman, Early will deliver 35 three and four-bedroom townhouses upon completion, with prices from $1.299 million.
With an estimated completion date of late 2024, prospective buyers are still able to save significantly on stamp duty costs
The townhouses boast a timeless facade that offer striking contrast with textured materials, with materials and finishes selected to not only stand out amongst the crowd, but to also carry a sense of longevity and luxury.
Award-winning designer, Adele Bates crafted the interiors of each townhouse, which boast a considered palette of warm timbers and textural natural stone, coupled with CDK marble benchtops, as well as SMEG and Fisher & Paykel appliances.
The townhouses have been designed to make the most of natural light, with large windows and open living spaces that invite the outside in, with each home adjoining to spacious terraces which provide a seamless transition from indoor to outdoor living.
The three-bedroom townhouses feature two bathrooms and two car spaces, while the four-bedders include three bathrooms, along with two car spaces.
Project: Merchant Apartments
Address: Corner Ann Street and Waterline Place, Williamstown
Developer: AVJennings
As the final piece of the puzzle in AVJennings Williamstown development, Waterline Place, Merchant Apartments will deliver 125 apartments across two seven-storey buildings upon completion, which is slated for mid 2024.
Inspired by its coastal topography and local maritime history, the apartments are situated in the heart of the community, with Elenberg Fraser handling the designs.
Floor to ceiling glazing maximises outlooks, bringing the outdoors in, while each adjoining balcony has been designed as an extension of the home, providing an addition living space in each apartment.
Not just apartments, Merchant will also deliver a vibrant ground floor retail offering and a uniquely designed communal rooftop space, with sweeping views to the city and Hobsons Bay.
Pitched toward a wide range of buyers, there's a mix of one, two and three-bedroom apartments on offer, with prices for a one-bedder from $510,000, while the two-bedders begin from $710,000. A number of over-sized three-bedroom apartments are also on offer, with sprawling floorplans of up to 184 sqm.
The ASX-listed developers vision for Waterline Place is to create 'a village within a village'.
It's a vision which is quickly coming to fruition with Waterline Place already home to a number of apartment buildings, including Gem, Rosny, and Empress.