Growing popularity of townhouses among homebuyers
Townhouses strike the right balance of price, location and space
Quality, space, affordability and central locations are driving sales of townhouses, with demand expected to rise further.
With the strong price growth of houses in Melbourne and regional hotspots making them out of reach for many, townhouses are seen as an alternative for a wide range of buyers.
With a trend towards low-maintenance living and good access to the city and amenities, townhouses in many suburbs are now sought after, according to Barry Plant agents.
“It is easier to sell townhouses now compared to a couple of years ago and buyers, especially professional couples and young families, are buying them,” Barry Plant Doncaster East agent Casey Wang said.
“Land for houses is getting scarce and house prices are higher, so townhouses, especially in good locations and sought-after school zones, are in high demand.”
In the city’s north and northeast suburbs such as Bulleen, Bundoora and Macleod, more townhouses are being built, with larger quality homes selling for $1-$1.1 million, according to Barry Plant Bundoora sales manager Michael Egan.
”There is stronger demand for larger townhouses by those wanting a low-maintenance lifestyle with a bit more size, and double-storey townhouses with four bedrooms are ideal,” he said.
“The trend is towards higher quality and more space, with perhaps a downstairs main bedroom with 22-24 squares of living and on 250-300sq m blocks.”
Mr Egan noted that smaller townhouses on tighter blocks were slower to sell.
An area where townhouses are popular is Manningham, with many new homes developed in Doncaster and Doncaster East.
“Many buyers like to buy new or modern homes, and townhouses are ideal because buyers can just move it and not have to do any renovations,” Ms Wang said.
“In Manningham, it is easier to sell townhouses because many buyers want to enter good school zones and there are many good schools in the area.”
A recent sale was 12/122 Williamsons Road, Doncaster, which was on the market for just a week before it was snapped up for $712,000.
The two-bedroom property without a backyard and on a very small block was sold to a first-home buyer who recently arrived from Hong Kong.
The newly built property in a central location had three offers and sold above the seller’s price expectations.
And a four-bedroom townhouse at 3/22 Leura Street, Doncaster East, recently sold for $1.2 million to a family who wanted to be in the highly regarded East Doncaster Secondary College zone.
“Townhouses will become more popular, with many people buying now because of rising construction costs,” Ms Wang said.
“And there are those who buy to live in townhouses near the city and also invest in regional areas for capital growth.”
While demand has risen for this market segment, the supply is still limited, Barry Plant agents said.
“Townhouses are being built by developers and also homeowners because of the demand,” Mr Egan said.
“Buyers are looking for larger townhouses with an extra bedroom that could be used for those working from home.”
The buyer profile for townhouses has also grown from mainly young buyers to include downsizers and families.
“We get a mix of first and second home buyers and also downsizers, and there is a limited supply of both large and small townhouses,” Mr Egan said.
“The demand is very strong in desirable suburbs with access to the city and for good calibre homes.”
The agency’s online auction of 4 Havelock Avenue, Bundoora, attracted 11 registered bidders, with seven competing on the day. The four-bedroom property on 330sq m fetched $1.103 million, well above the seller’s price hopes.
Check out these townhouses available for private sale or auction in a suburb near you.
61 South Wharf Drive, Docklands,
Price guide: $2.2-$2.42 million
Contact: Alice Geddes, Barry Plant Docklands, 0421 981 981
Luxury tri-level living is on offer with this townhouse that comes with a marina berth, and it is ideal for those seeking a lifestyle close to the city and by the water. With designer features and indoor and outdoor living spaces, it will even suit a growing family. A serene courtyard garden is at the front while the ground level has living and dining spaces plus a gourmet kitchen with quality appliances. Three bedrooms, including a main with an ensuite, and a deck are on the middle level. The next floor has a bedroom, living and games rooms and an outdoor entertainment area with stunning views.
Sale By Set Date: April 5, 6 pm
Price guide: $1.025-$1.125 million
Contact: David Moxon, Barry Plant Bundoora, 0413 673 636
Nestled in a peaceful spot near parklands and playgrounds along Darebin Creek trail, is this beautiful family home on two levels. Sure to impress is the undercover entertainment area and a modern kitchen with a grand centre island, Caesarstone benchtops, breakfast bar and stainless steel appliances. It also features Sydney Blue Gum hardwood floors, open living/meals area, and a sweeping family room with home office space. Upstairs are three more bedrooms and a study nook. There is also split-system heating/cooling, an infinite flow of hot water, laundry, and a double garage with storage and powder room.
6 Mayfair Avenue, Templestowe Lower
Price Guide: $1.2-$1.32 million
Auction: April 2, 1 pm
Contact: Mark Di Giulio, Barry Plant Doncaster East, 0407 863 179
Enjoy stylish modern living in this quality four-bedroom home near Templestowe Heights Primary School and Templestowe College. The interior features quality finishes and a family-friendly floorplan, and includes Tasmanian Oak floorboards, high ceilings and open-plan family, meals and kitchen areas. The courtyard is low maintenance and there is also an upstairs retreat, main bedroom with an ensuite, powder room for guests, good-sized bedrooms, a modern family bathroom with a spa tub, and a generously proportioned laundry.
Price guide: $780,000-$850,000
Auction: April 2, 11 am
Contact: Marco Sansoe, Barry Plant Glenroy, 0406 072 953
This well-designed home is just minutes from West Street shops, cafés and the sports precinct. It offers a stylish open floorplan, living and dining zones, gourmet kitchen and a private indoor/outdoor area complemented by landscaped gardens. The double-storey home offers a comfortable lifestyle in a great location. Australian Chestnut timber floorboards, double-door entrance hall, bespoke open-tread timber staircase, spa ensuite, family-sized laundry and refrigerated cooling/ducted heating are among its many features. A garage with internal access, powder room and built-in study are included.