Townhouse sales continue to set new benchmarks
It was interesting to read in the Realestate lift-out in Saturday’s Herald-Sun about the changing market for townhouse sales around Melbourne. In case you missed it, the article by Johanna Legatt entitled ‘Building on a new trend’ on page 6 of the property section provided some interesting insights into the growth in popularity of townhouses as an option for property buyers.
One of the interesting stats that she shared on townhouse sales was that “According to data compiled for Realestate, townhouse development approvals have increased in the Melbourne metro area by an average of 126.3% per year since 2011.
Just 16 individual townhouses received development approval in the Melbourne metro area between January and December 2011. This compares with a whopping 1471 individual townhouse approvals in the first four months of this year alone!”
As the article also says, “There is no doubt that townhouses – house style attached homes in a multi-unit complex – are having a moment.”
Media attention like this on townhouse sales is timely, as we had yet another example of the strength of the townhouse market this week when our team negotiated another sale in a group of new townhouses in Furzer Street, Preston.
This particular townhouse (pictured) provided three bedrooms, two bathrooms, a central study nook, a modern kitchen equipped with stone benchtops, and open living space which opened to a private courtyard. Being positioned within walking distance of Coburg Hill Shopping Centre was an additional bonus.
Confirmation of the strength of recent townhouse sales came in the form a very strong sale at not far short of $800,000…a very satisfying result for our vendor.
As the article we mentioned earlier said, “Townhouses – or town homes as some builders like to call them – are no longer the poor cousin of the quarter acre block and, in fact, many buyers them to a stand-alone home.”
The important thing to remember, whether you are planning on selling a townhouse, a stand-alone home, a smaller villa unit or an apartment, is that your approach to your marketing campaign needs to be individually tailored to suit that property category and the buyers that are actively looking for it. There is no “one size fits all” approach to today’s market.
Therefore, if you are considering a sale in 2018, don’t hesitate to give us a call to discuss your options.
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