Why Melbourne Loves Townhouses and You Should Too!

With the surge in apartment buildings towering over the Melbourne skyline, you would be forgiven for thinking that apartments are the way of the future. However, 2017 is shaping up to be the Year of the Townhouse. The construction of new townhouse designs have risen since late 2016, a trend set to continue far into the future. And there is ample room for growth in this market.townhouse builders melbourne

Gone are the days when we saw a townhouse as a rundown, inner urban home, perpetually rented out. The modern townhouse design is luxuriously high end, using its location intelligently to take advantage of natural light. They attract buyers who are seeking more space than apartment living will allow. It is a revival of an old style of housing to suit different lifestyle needs.

Townhouses have become the dwelling of choice for off-the-plan buyers who are moving away from the over-supplied apartment market. Townhouse designs are also becoming the developer project of choice, with the least amount of risk. With the implementation of foreign investment taxes, planning legislation and under valuations, townhouses are a better developer investment than apartment buildings. Financing for buyers is also easier, with banks more willing to lend to those buying semi-detached over apartments.

In fact, there has been more demand in the last 4 years for medium-density housing from all markets, including first home buyers, families and those looking to downsize. Over 33,000 semi-detached, row or terrace style townhouse designs were approved before October 2016. This change in taste has also seen a refocus on the owner-occupier, rather than those looking for an investment property. And for those looking to resell, townhouses stay on the market for far less time than houses or apartments.

luxury home builders melbourneIn fact, the rise of the townhouse has seen a focus on luxurious internal fittings, quality materials and generous courtyards. In 2017 trends are suggesting a focus on boutique, one off townhouse designs. New designs remove the harsh edges of the traditional, Victorian townhouses. Buyers have become savvier, demanding more for their dollar, less willing to compromise on layouts, local services and areas. Those who want the joy of owning their own home, without the high maintenance of a detached home or the owners corporation fees of an apartment, will see the appeal in a luxury townhouse design.

If you would like to know more about Virgon’s boutique designs contact us today on (03) 9819 9109