An influx of new homes is changing the way we live in Melbourne’s northwest.
From apartment developments to housing subdivisions, residential projects are delivering stylish new options for buyers and breathing new life into the region.
Latest Australian Bureau of Statistics data shows more than 10,000 residential building approvals were given the green light across Brimbank, Hume, Macedon Ranges, Maribyrnong, Melton, Moonee Valley and Moreland last financial year.
House approvals edged out apartment and unit approvals, with Hume leading the way for houses with 2879 approvals, and Maribyrnong tops for apartments and units with 1139 approvals.
Three groundbreaking new developments are playing their part in the region’s transformation, and Brad Teal Real Estate is proudly playing a pivotal role in facilitating these modern living opportunities.
Moonee Valley Park
The much-publicised redevelopment of Moonee Valley racecourse will provide buyers with an enviable home and lifestyle.
“I haven’t seen anything else like this in Australia,” says Brad Teal senior sales consultant Tony Downward.
“It will truly become a landmark precinct.”
The mixed-use project, about 8km from the CBD, will deliver up to 2000 new apartments and townhouses along with retail and entertainment areas, community and commercial spaces and plenty of green space too. The racecourse will be re-designed and spun around 90 degrees with a new grandstand.
“The area will have a real botanical vibe with established flora,” Mr Downward continues.
“The amount of open, green space being utilised is amazing. It’s the total opposite of high-rise next to high-rise next to high-rise.
“It will have all the modern conveniences and great access to nature. It will be like a massive adventure playground.”
Sales of stage one of the development, which is also set to make Moonee Valley Park a destination precinct, have opened, with prices starting from $860,000. Buyers can expect to move in to their new home in two year’s time.
With racing to be held only 34 times a year, the multipurpose areas will be opened up for Sunday markets, craft days and the like.
New Gisborne Land Sale
Located beside Mt Macedon, this new estate about 57km from the Melbourne CBD offers large residential subdivisions that will appeal to those wanting city amenities and convenience but with a laid-back country lifestyle.
Treechangers seeking an escape from the city, farmers coming off the land, first home buyers, and families keen for more space will all find what they are looking for in New Gisborne.
It’s a sought-after area, that is likely to offer significant capital growth – prices in the surrounding area increased by up to 33 per cent when the development was first mooted in 2017.
“It’s a country lifestyle but you can enjoy all the convenience and amenities of the city,” says Brad Teal sales manager Craig Teal.
“You can leave the hustle and bustle behind and just enjoy life, full stop. But you’re not sacrificing anything because the shops, schools and communities are there as is the trainline and easy access to the freeway. It’s just an easier, less stressful lifestyle.”
The first release of 181 blocks of 800sq m in the Cathlaw Estate has begun.
“You can get a house in the outer suburbs of Melbourne for $800k but it’s 20 years old,” Mr Teal continues.
“Here you can have a house for that much – $400k for the land and $400k for the house. But it’s a brand new house with that open plan scenario that’s really in demand these days.”
Keilor Park Land Sales
The former site of Keilor Park Primary School is also set to reinvigorate the area and its surrounds.
The development offers 28 allotments. The 700sq m blocks, which can accommodate a house, two houses side by side or even three dwellings, are particularly attractive to second home buyers.
“It’s infrastructure-ready, the community parks and shopping and sporting amenities are already there. You can be settled in your new home by the middle of next year,” says Brad Teal director Brad Teal.
Just 21km from the CBD, Keilor Park also offers easy access to the city, Bendigo, Geelong and freeways, with buyers able to own their dream home for $1 million.
“It’s a brand new home for $600,000 for the land and $400,000 for a house,” Mr Teal continues.
“In my experience, if you buy a house and then rebuild, you lose 30 per cent of your budget on demolition, planning and melding the old and the new together. Here you can put that money into the house.
“It’s a great rejuvenation of the area and can be a great rejuvenation of your lifestyle.”
To learn more about the changing face of Melbourne’s northwest and these great opportunities contact Brad Teal today.