THE YEAR OF THE APARTMENTS!
We’ve all heard it and seen it with our own eyes… Australia’s housing prices increased by over 20% in 2021. What we haven’t seen yet… is the inevitable and incoming, corresponding increase, in apartment prices.
The maths are simple… as houses go up, it lowers affordability. As more and more people, get priced out of the market, in their desired location, they will start to buy apartments. More demand, will lead to higher prices. This cycle has played out many times before and will play out many more times in the future.
There are already signs of this happening in the City Fringe and it won’t be very long at all, until this flows into the Suburban areas.
2021 was the Year of the Houses… 2022 will be the Year of the Apartments!
900 – 902 Canterbury Road is an outstanding, ‘ready to go’ development opportunity, being offered at the perfect moment in time. Brilliantly located adjoining the Box Hill Activity and Lifestyle Centre, as well as many of Melbourne’s most prestigious schools.
The site was previously, sometime back, approved for a 4 Storey development, with ground floor retail & parking, with apartments above. Council’s current development guidelines (STCA), now allows for an additional floor or a 5 Storey development.
Most of the hard work has been done for you… the building has been demolished. Council is stepping out, in easy to understand detail, what development potential is on offer… The market is turning, with a strong uptrend in apartments…