5/11 Windsor St Burwood East- for Whitehorse Leader real estate news
Parents with tightening wallets are driving a boost in units prices across Whitehorse hot spots.
Units in Burwood East and Mont Albert recorded the highest median price gains for Whitehorse in the year to August, according to the latest CoreLogic data.
Burwood East defied the cooling trend best, with its median unit price increasing by 14.4 per cent to $795,000.
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This treasured Mont Albert family home is all class
A Burwood East unit at 5/11 Windsor St is for sale.
It has a price guide of $680,000-$740,0000.
Mont Albert units had the second highest median price rise of 6.7 per cent to $850,000.
These figures compare to a 5.1 per cent increase in the median unit price across greater Melbourne.
Whitehorse’s median unit price is $828,500, according to CoreLogic.
Jellis Craig director Daniel Bullen said families on tighter budgets were bolstering the medium- and high-density residential market.
Families are choosing to live in units and apartments because house prices are so high.
Downsizers are also buying more units in Whitehorse.
“With finance being tighter these days, some families are moving to apartments with smaller land sizes and price points,” Mr Bullen said.
“There is also an older demographic of people who are downsizing, but wanting to stay in the same area as their former family home.”
Barry Plant Blackburn’s Mark Di Guilio said families were sacrificing land size to stay in the area.
This Mont Albert unit at 4/402 Mont Albert Rd is on the market.
It has a price guide of $695,000-$725,000.
“Whitehorse has experienced a huge amount of growth and the reality is, the traditional family home is no longer achievable for everyone,” Mr Di Giulio said.
“More luxury executive townhouses, which are essentially three- or four-bedroom family homes, are now being built by developers.”
He added that while families could move further away from the city for a large block, most would rather buy a smaller home in Whitehorse.
Renders of the future homes planned for the Burwood Brickworks, which are now for sale.
More than 6000 parties have registered for the 700 homes to be built.
“Families buying in these areas are looking for quality public transport, great amenities and a low-maintenance lifestyle,” Mr Di Gulio said.
Burwood Brickworks, a new development project in Burwood East, has already had 6000 buyers register for 700 homes set to be built in the estate.
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