Home Mortgage News Victoria dominates apartment hotspots list

Victoria dominates apartment hotspots list

Published on 03 Mar, 2015

A new study has named five Victoria suburbs in the New Apartment Hotspots report.

A new study has named five Victoria suburbs in the New Apartment Hotspots report.

Realestate.com.au has released the list that includes the 10 Australian suburbs with the most views for off-the-plan apartments in the past three months. The ranking follows below:

1. Collingwood (VIC)
2. Hampton (VIC)
3. Lane Cove (NSW)
4. Mosman (NSW)
5. Melbourne CBD (VIC)
6. Brisbane City (QLD)
7. Rhodes (NSW)
8. Wollongong (NSW)
9. Carlton (VIC)
10. Richmond (VIC)

“When you buy an off-the-plan apartment in Victoria, you get stamp duty savings that are more significant than other states. For example, purchasing an off-the-plan apartment for $500,000 can save you up to $25,000,” said Evan Cathcart of 360 Property Group.

He added that the proximity of the CBD and the prominence of young lifestyle to the inner city Melbourne suburb of Collingwood were the key drivers for buyers.

“There are parts of Collingwood that are only one km or a 10 minute walk from the CBD. From my experience, most people buying off-the-plan in Collingwood are predominantly young professionals. With Collingwood, they’re close to their white-collar jobs in the city and have bustling cafes, bars and restaurants at their doorstep,” he said.

For Toby Balazs, head of developer sales at REA Group, Realestate.com.au’s New Apartment Hotspots data “paints a strong picture of consumer demand”.

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