Apartment markets are leading Melbourne’s recovery from the post-boom downturn. Hotspotting’s Spring survey of sales activity and prices provides strong evidence of revival in Melbourne, with units outdoing houses on price performance.
Buyer confidence in the luxury off-the-plan market has regained strength with Armadale development, 835 High Street selling $20 million worth of property in the first weekend of sales and organic grocer, The Leaf Store signing on to occupy the ground floor retail space.
Home elevators are being seen in more and more homes in Melbourne. In Australia, residential land is getting smaller while square meterage is getting larger. There’s only one way to go and that’s up. Three-storey homes are no longer unusual, they’re typical in the premium market.
The luxury buyer has a precise set of needs and expectations that smart developers understand. A luxury buyer already has a very clear idea of what they want when they make an enquiry – they’re often well advanced with their buying journey.