Chat with us, powered by LiveChatInner north entry-level dwellings “fly off the shelves”

Inner north entry-level dwellings “fly off the shelves”

First-home buyers bag offerings in Brunswick, Coburg and Pascoe Vale

A flurry of first-home buying activity has seen a plethora of homes snapped up across Melbourne’s inner north suburbs.

Buoyed by low-interest rates, first-home buyers have flocked to Brunswick, Coburg and Pascoe Vale, according to Barry Plant Inner City Group branch manager Steve Sfindilis.

“Many came forward to grab the chance to get into the market,” he said.

“Entry-level two-bedroom apartments, units and townhouses on the city fringe flew off the shelves at good prices.”

A two-bedroom ground floor apartment at 6/40 Cumming Street, Brunswick West, sold under the hammer to a first-home buyer from Carnegie for $470,000 on November 20.

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“This is one of the larger homes in the block and sold after a quick five-minute battle between two bidders,” Mr Sfindilis said.

Offering low-maintenance inner-city living near Shiels Reserve, trams, train, shops and RMIT campus, the apartment features an updated kitchen and a shared courtyard.

A ground-level two-bedroom apartment at 1/54-84 Percy Street, Brunswick, sold at a twilight auction on November 17 for $635,000.

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Strong bidding from four local first-home buyers with a penchant for the inner-city lifestyle pushed the price past the $600,000 seller’s reserve, Mr Sfindilis said.

Set in a boutique low-rise complex less than 7km from the CBD, the trendy home with street frontage and a courtyard is near Sydney Road’s trams, shops and eateries.

Several properties were also sold prior to auction to eager first-home buyers, including a two-bedroom townhouse at 8/118-124 Melville Road, Brunswick West.

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It attracted three offers and sold a day before the auction for $830,000 to a young couple from Mont Albert.

The property with a courtyard and carport is in a modern complex with a gated entry and is near trams, Jacobs Reserve, Brunswick North Primary, shops and Anstey Station.

In Brunswick East, a high-end two-bedroom apartment at D201/42 Hutchinson Street, sold before auction for $660,000.

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“Four first-home buyers made offers and it achieved $30,000 above the seller’s expectations,” Mr Sfindilis said.

Nestled in a coveted pocket near Lygon Street with views of Fleming Park and the city, the spacious boutique-style home features a covered alfresco terrace and premium fittings.

In Pascoe Vale, a two-bedroom unit with an updated kitchen at 4/43 Landells Road was on the market for seven days before it changed hands for $595,000.

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“It sold after two opens and attracted three offers,” Mr Sfindilis said.

“First-home buyers from Richmond paid $45,000 above the seller’s reserve for the home.”

And in Coburg, a two-bedroom unit at 4/80 Ross Street was snapped up three days before its November 20 auction for $724,000.

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The move-in-ready home near Pentridge Village and Coburg Lake Reserve attracted three offers from young couples, according to agent Jarrod Couch.

“Local first-home buyers paid above the owner’s expectations for the property,” he said.