TOWNHOMES UNLOCKING AFFORDABILITY FOR FIRST HOME BUYERS
The migration of the popular inner city townhome into Melbourne’s outer suburbs is providing strong affordability wins for first home buyers and bringing prices to well below the average median.
Recognising the need for an affordable first home buyer product that delivers on style and quality, Melbourne developers MAB and GPC have successfully introduced townhome living into Victoria’s largest mixed-use community, Merrifield in Mickleham.
After a successful launch of more than 30 curated townhomes earlier in the year, MAB and GPC are now taking registrations for the first release of its ‘Crafted townhomes by Merrifield’ range, a series of boutique turn-key townhomes created by skilled architects and constructed by industry leading builders – to be available from a fixed price of $385,000, or $375,000 for eligible first home buyers. That is $204,900 under the median house and land package price of $579,900 across the City of Hume for first home buyers.
The first series of contemporary double storey terrace homes have been designed by award-winning architectural practice Rothelowman Architects for Soho Living and feature striking, modern designs that offer two to three bedrooms, generous living spaces and landscaped yards.
Merrifield Project Director Matthew Planner said the initial townhome release had successfully tested the market and found a strong demand for this style of living in Melbourne’s outer suburbs.
“The first release showed that there is a strong desire among young buyers for a stylish turn-key townhome that delivers contemporary design to suit a modern urban lifestyle, but is also very competitively priced,” he said.
“Our Crafted townhome range aims to deliver architecturally designed terraces at an affordable price point in a great location, which is truly compelling for buyers in Melbourne’s northern growth corridor.
“Importantly, being a fixed price and turn-key solution, these townhomes have also been created to make buying a first home or investment easy and stress free.”
Merrifield townhome purchaser Kristy Prasad, 21, purchased for exactly that reason – as well as a few more. A first home buyer, Kristy bought a three-bedroom townhome with partner Brayden Carriera, seeing it as a great opportunity to get on the property ladder at an affordable price.
They will move into their home next year when it is completed and have welcomed the idea of a townhome that is strong on great design but light on in terms of maintenance and upkeep.
“It is the ultimate home for us. The cleaning and upkeep will be much easier than in a large family home and we love that everything will be new, and we don’t have to renovate,” she said.
“The designs are really clever, making good use of space and maximising storage. They look really beautiful and luxurious, with their contemporary design and colour schemes.
“We’ve also found buying-off-the-plan a lot less stressful, as everything will be done for us and we’ve been able to make some small changes so we get the perfect home.”
The couple are also excited about being able to have a yard without having to buy a more expensive house and land package, as they’re planning to add two dogs to their brood.
Mr Planner said one of the secrets of the success of the townhome product to date had been its location only moments from Merrifield’s planned City Centre and the broad range of amenity already on offer, including regular farmers’ markets, public transport, local parks, a café, child care and convenience store.
The new Merrifield City Centre will put townhome buyers within walking distance of a shopping centre, with stage one set to include a supermarket and a variety of specialty stores, and due to open in 2020 – around the same time the first owners receive the keys to their new Crafted townhomes.
The townhomes are also close to planned medical and health facilities as well as community and educational facilities – including two primary schools – anticipated to open as early as 2021.
“The townhome is traditionally associated with inner city living and, in Merrifield, is appropriately positioned in a vibrant urban context, which resonates with our buyers who want to be close to it all,” added Mr Planner.
Mr Planner said the turn-key feature was also of great appeal to first-time buyers, some of whom can feel overwhelmed at the complexity of a property purchase and all the options that can come with it.
“We’ve found many of our customers are happy to put their trust in the experts and outsource the tough decisions – they connect with well-considered and resolved design right from the outset,” he said.
“The ability to simply turn the key and move into a beautiful new townhome speaks to them.”
The ‘Crafted townhomes by Merrifield’ has commenced selling in Merrifield and prospective buyers are encouraged to register online to receive updates.