Change in government gives WA buyers a boost of confidence
Some 50% of apartments have sold in the boutique apartment development Vélo in Northbridge, with the rest expected to be snapped up at the launch this weekend, following the change in government.
Developed by local developers Baltinas Made and designed by Baltinas Architecture, the $32 million boutique apartment development features 61 apartments.
“Since the election result came through, buyers that have been sitting on the fence for weeks have been calling us chasing properties to invest in,” says MLG Realty director Cindy Lee.
“The reaction has been amazing – there has been a surge in confidence from the change of government and buyers are also citing record low interest rates as a huge factor for hem.
“Given all of that and Northbridge’s potential for great growth, we suspect Vélo will sell out soon after its public launch this week,” says Lee.
Interest has been particularly strong for one-bedroom apartments, with interest from singles, couples and investors.
One-bedroom apartments start from $385,000 and two-bedroom apartments start from $535,000.
Apartments feature winter garden balconies, rooftop water harvesting technology and solar panels and a ground level bar and café.
The median apartment price in Northbridge is $506,500, a 0.3% change in the past five years, according to RP Data.