Urban's most popular Melbourne suburbs for first home buyers in September
First home buyers are continuing their property search as we head in to the summer selling season.
While ABS data showed first home buyer loan commitments have tapered off for the seventh month in a row, Urban are still seeing a significant uptake from first home buyers, as much as there was during the HomeBuilder boom earlier this year.
First home buyers are still making up more than a quarter of new owner occupier loans, as developers and agents cite continued strong interest from the segment.
ABS data shows new first home buyer commitments remain more than 50 per cent higher compared to this time last year.
With first home buyer loan commitments still holding strong, Urban has highlighted the developments in the suburbs most popular amongst first home buyers for the month of September.
Brunswick
Brunswick has always been a popular spot for the younger, first home buyer demographi.
When COVID lockdowns lift, the eclectic suburb in Melbourne's north will again be home to live music, upbeat pubs and beer gardens.
At the area's heart, Sydney Road has Middle Eastern and Mediterranean eateries, offbeat shops, shisha lounges and cafes along its considerable length. Neighbouring East Brunswick is more upscale, home to upwardly mobile professionals and craft-beer bars.
One of the most in demand projects on Urban for first home buyers has been 4 Ballarat Street, namely down to its location and affordability. Prices start as low as $467,500 for a one-bedroom apartment.
Located in the heart of Brunswick, the development team at Assemble Futures operate on a rent-with-the-option-to-buy model, which has made this development particularly popular amongst first home buyers.
The new rent-with-the-option-to-buy model offers a more accessible pathway to owning a home, that bridges the gap between renting and buying. Once the applicant signs the lease agreement and contract of sale, they secure five years agreed rent with the option to buy their home at the end of the lease period.
Designed by Fieldwork Architects and with landscaping by Rush Wright, 4 Ballarat places an emphasis on providing a seamless transition to the natural environment, with each apartment running on 100% renewable energy. This also appeals to the more environmentally conscious younger generations.
Melbourne
The stamp duty concessions in the CBD has increased its popularity with first home buyers, as those looking and getting on the ladder for the first time are eyeing somewhere near the central office hub of the city.
Home to some of Melbourne’s best cultural and entertainment venues, as well as an eclectic mix of boutiques, restaurants, cafe's and everything in between, residents love Degraves Street and the Bourke Street Mall in particular. Shoppers can get lost for hours, while diners can find an ideal meal at any price point.
It is also home to a bumping nightlife with clubs and bars renowned across Australia.
One of the latest popular developments on the Melbourne CBD fringe is St Boulevard, the three-tower project by The Shakespeare Group.
Recently completed, St Boulevard offers an unrepeatable location, located in a prime position on the corner of St Kilda Rd and High Street, and at the southern tip of Albert Park Lake,
Apartments start from $410,000 in the Elenberg-Fraser designed development.
St Boulevard is made up of three towers Magnolia, Anaca and Ginko, and puts residents on the fringes of Albert and Fawkner Parks. It's a short stroll to the St Kilda and Prahran precincts.
Keysborough
The family-friendly suburb of Keysborough, 27 kilometres south-east of Melbourne, continues to be popular with first home buyers and young families, due to its larger, and more affordable, apartments and townhouses.
The hottest project is Haven Townhomes, the townhouse development created by Aultun Group and design by Cera Stribley Architects.
There are three-bedroom townhomes on offer, priced from $714,000.
Situated surrounded by thriving wetlands and meandering walking trails, each of the 59 Haven Townhomes are in a prime position for sweeping views, access to nature and convenient amenities.
Hawthorn East
Hawthorn East is usually a feature on the most popular investor suburbs but it isn't the first-time it has shown up on the most popular first home buyer list, with Dahua Group's Hawthorn Park recently completion being a factor.
Located in one of Melbourne’s most blue chip suburbs, the Hawthorn East development is surrounded by heritage homes and buildings, cafes, boutiques and bars, in addition to a well connected public transport system.
Dahua Group had architecture firm Rothelowman, one of Australia’s leading architecture practices, collaborate with the landscape architect Jack Merlo on the Camberwell Road development of 330 residences.
Residents enjoy the property’s landscaped green spaces and parks that feature fruit and vegetable gardens for dwellers to grow their own produce. The project also features a sky boardwalk, splash pool, sky lounge, massage suites and fully-equipped gym.
Wollert
Discerning first home buyers with an eye on future infrastructure growth have been looking at Wollert, the growing area 26 kilometres north of Melbourne.
The future 64-hectare master-planned community, Mason Quarter, has been the most sought-after project in Wollert.
Delivered by Cedar Woods, Mason Quarter incorporates over 800 dwellings, two schools, community facilities, a 7.9-hectare conservation reserve and over 30 distributed tree reserves with majestic river red gums.
Mason Quarter offers buyers the choice of either land starting from as low as $275,500 for a 238 sqm package to build their dream home or a residence in one of their releases like Mason Quarter Townhomes.
The community is located within walking distance of the future Wollert town centre and there is a range of existing infrastructure and public amenity available nearby including the Hume Freeway, Metropolitan Ring Road, hospitals, shopping centres and public transport.