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Apartment living in Melbourne has reached new heights with city professionals, young families and empty-nesters who seek a convenient lifestyle that prioritises compact living spaces.
Lendlease’s head of apartments Ben Christie says buyers are now astute and sophisticated about where, when and how they buy apartments.
“The great thing about Melbourne’s market is that it offers a variety of city-centric living options that weren’t available 20 years go,” Mr Christie said.
“The convenience and elegance of living in Melbourne city is compelling. When compared to other capital cities outside of Australia, Melbourne definitely boasts a very high quality of apartment design.”
Mr Christie said Melbourne buyers across all demographic groups have one of the strongest appetites for high-quality apartments, adding that the southern city is “design conscious”.
“In Melbourne, people expect a comprehensive offering which includes open floor plan layouts for social spaces, ample storage in residences and basements, and health-conscious building amenities.”
Supporting this sentiment, the CoreLogic Property Market Indicator for the week ending 4 December found that clearance rates for Melbourne were the highest for all capital cities at 79.3 per cent.
Sydney was next at 77.7 per cent. Perth, Adelaide, Canberra and Tasmania were above 60 per cent, while Brisbane fell below the 60 threshold.
Combined, the capital city preliminary clearance rates rose to 75 per cent, up from last week’s final clearance rate of 73 per cent.
CoreLogic said the results were an indication that clearance rates would be strong entering the summer season.
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