What's New in Melbourne's Property Market?

Victorian and Edwardian style double fronted houses are becoming a prized possession in Melbourne. Young couples with children and buyers in their late 50’s and 60’s are battling it out for these large and conveniently located living spaces. Older people who prefer single level homes, spacious enough to accommodate guests also have their hearts set on these double-fronted properties. They love low-maintenance homes, good car accommodation, proximity to restaurants and entertainment venues, and the prestige that comes along with the ownership of a double-fronted home.
Posted 3 years ago

Victorian and Edwardian style double fronted houses are becoming a prized possession in Melbourne.

Young couples with children and buyers in their late 50’s and 60’s are battling it out for these large and conveniently located living spaces. Older people who prefer single level homes, spacious enough to accommodate guests also have their hearts set on these double-fronted properties. They love low-maintenance homes, good car accommodation, proximity to restaurants and entertainment venues, and the prestige that comes along with the ownership of a double-fronted home.

Older buyers have the resources to purchase these charming homes that come with a price tag of $1.2-$1.5 million or more. This is making it increasingly difficult for younger couples and families to step onto the property ladder.

 

Property Development

While baby boomers look for properties that offer them a particular lifestyle, younger couples look for properties that have a potential for increased growth.

Many Melbourne suburbs – such as high-growth suburbs like Malvern East, Epping and Caroline Springs - are likely to see a lot of new improvements in the near future in terms of infrastructure and amenities. These new improvements may drive up demand for housing in both inner and outer city areas, resulting in a property price boom.

Despite this, there are still many professionals, students and families who prefer the vibe of the CBD and the convenience of living in an apartment. With no lawns to mow and no weeds to pick, there’s plenty of time to enjoy the show and events that take place in and around the city. In order to cater to this segment, residential developers are unveiling luxurious apartment complexes that are packed with all the amenities you could think of.

 

EBG Developments

EBG Developments’ latest projects in Malvern and St. Kilda boast luxury apartments, penthouses, townhouses and individually tailored mansions. The new residences feature expansive living areas, elegant interiors, well-landscaped courtyards and relaxing gardens, offering you a secluded haven in the heart of the vibrant city. The new apartment developments are being constructed in tightly held suburbs known for their top schools and shopping centres. With bars, cafes, gyms, museums and stadiums only moments way, you’ll be spoiled for choice.

 

Getting a Home Loan

If you’re interested in purchasing one of our high profile properties, make sure you review online mortgage platforms, which will help put you in the driver’s seat when you’re applying for a home loan.

These platforms help by giving you access to home loan calculators and products that were only once available through licensed mortgage brokers. You now have the opportunity to become your own mortgage broker and save on mortgage broker fees and commissions.

In 2015, home buyers in Victoria ended up borrowing approximately $61,000 more than the previous year. Record low-interest rates and higher property prices are to blame for mounting debt. It’s important to get the right loan by comparing loan prepayment clauses and flexible payment options offered by various lending institutions.

 

For more advice on property purchases, visit EBG developments. Find out how we can bring you a step closer to your dream home.