The Highbury Townhomes designed by ClarkeHopkinsClarke and developed by Metro Property Development are representative of the growing local interest in townhouses, with all 49 dwellings selling out in less than 10 weeks.
Located just seven kilometres from the CBD in gentrifying West Footscray, Highbury Townhomes caters to the market demand for young families seeking a dwelling that’s larger than an apartment, less expensive than a traditional family home, close to the CBD and with an outdoor living area.
“Townhouses are where the market is heading; they’re a much more popular product for owner- occupiers,” says David Steele, General Manager of Victoria Development at Metro Property Development.
“Apartments are often viewed as being too small and established family homes are too expensive for many, so townhouses provide a great alternative for first homeowners and young families who want a bit of space but also want to live close to amenity, transport and the CBD.”
The purchaser data recorded by sales agent Marshall White Projects is evidence of the significant owner-occupier interest in the development.
The age demographic of buyers was 26 to 38 years of age, with the vast majority of purchasers described as young families who work in the CBD.
Of the 49 townhomes on offer, 15 (30 per cent) were purchased by first homeowners, and only six (12 per cent) were purchased purely as investment opportunities.
“There were also a large number of referrals from friends within this development, unlike I have seen before,” Leonard Teplin, Director of Marshall White Projects.
All townhouses in Highbury offer three or four bedrooms ranging from 125 to 150 square metres across two to three storeys, with a minimum of two bathrooms and two car parks.
Prices range between $589,000 and $699,000, dependent on the number of bedrooms and the park views of Hansen Reserve located directly opposite.
“We’ve staggered the two and three storey townhouses to provide glimpses of Hansen Reserve to the residences in the middle and rear of the site,” says Jarrod Manevski, Project Leader at ClarkeHopkinsClarke.
Despite being architect designed, the prices for each dwelling type are still below the median suburb price for West Footscray, which is listed by Realestate.com.au as $713,000 for a three- bedroom home and $770,500 for a four-bedroom home.
The buyer interest in townhouses signals Melbourne returning to its architectural roots, mirroring the iconic terrace homes that line the streets of the city’s most famous suburbs such as Carlton, East Melbourne and Albert Park.
“Townhouses cater to population growth in a smart, attractive and sustainable way that also curbs urban sprawl,” Steele says.
What distinguishes Highbury however is the design of the homes, featuring multiple living areas that appeal to young families.
“Most competing townhouses in the surrounding area and at a similar price point only had one living area so it made our product much more attractive,” Steele says.
The design combines clean, modernist inspired forms and pays tribute to West Footscray’s industrial heritage through the use of angled roofs, brick and weatherboard materials.
“Large bedrooms, built-in storage and the provision of ground floor home office spaces or built-in study nooks provide further liveability and convenience,” Manevski says.
Highbury Townhomes is the first Metro Property Development project to be designed by ClarkeHopkinsClarke.
“They had a great reputation and we will definitely be engaging them again. The sales results are a testament to their design,” Steele says.
“The design made my job very easy...For most buyers, it was a no-brainer,” Teplin says.
Melanie and Braeh Brimson along with their two young children Baden and Owen have purchased a four-bedroom, two-bathroom townhouse in Highbury.
The couple is so pleased with their purchase they have since recommended Highbury to a friend who has also purchased into the development.
“[They’re] exceptional value for money...I expected them to be more expensive considering the location,” Melanie Brimson says.
“The neutral colour palette will be timeless unlike some others we looked at.”
Currently living in Point Cook, Highbury met the family’s need for a larger dwelling closer to their previous home in Seddon, and with access to public open space.
“Having two young boys, we wanted space for them to run around but inner city properties with large backyards are few and far between, and they don’t come cheap,” Melanie Brimson says.
“This location gave us the luxury of a large reserve at our doorstep.”
Off the plan sales are staying strong, and are achievable for not only singles and couples, but families as well.
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