First-time buyers in the inner-north

Whilst the Inner North has been a popular area with first-time buyers for quite a while, in recent times, we have the tightening of lending to investors and the finish of the unsustainable price growth cycle that ended in 2018, combining to make market conditions even more favourable for those wanting to get into the property market for the first time. Indeed, we have commented on the growing confidence in this market segment in these reports several times this year.

One property type that has proven popular with first-time buyers is the apartment, and we saw further confirmation of this during the week with the sale of an appealing two-bedroom charmer in the ever-popular Excelsior building at 93-103 High Street in Preston (pictured). This split-level ground-floor apartment offered a good-sized courtyard and private access off Warrs Avenue, adding to the overall appeal that came with being located within walking distance of the trendy cafes and bars of Thornbury Village.

Another property that attracted plenty of interest from first-time buyers was a brand-new townhouse in Gower Street in Preston. Offering generous open plan living, two bedrooms and an open study area, two bathrooms and Blanco appliances in the kitchen, this contemporary haven had the extra bonus of being within walking distance of Northland and several transport options. The good news for buyers is that whilst the SOLD sign went up on this one during the week, we still have the one next door for sale.

The critical thing to remember is that whether you are a first-time buyer or making your last move in the property market in Melbourne’s Inner-North, our team is always happy to provide you with experienced, obligation-free advice. So don’t hesitate to give us a call.