Melbourne’s booming residential market is showing no signs of slowing, especially in middle-ring suburbs like Keysborough where Marshall White Projects has reported the swift sell out of all 45 townhomes in its ‘Seasons’ development in just 14 days.
Located at 175 Chapel Road, Keysborough, the sell-out success of Seasons is a testament to the area’s blossoming residential market and evidence of the continued demand for large-scale family homes by owner occupiers getting squeezed out of rising prices closer to the CBD.
With house values appreciating by an average of more than 10 per cent and average gross rental yields topping 4 per cent in the last year alone, it is little wonder why this leafy area in Melbourne’s South East is attracting such keen interest.
According to the development's managing agent, Marshall White Projects, Keysborough presents greater value for money and a more affordable entry point than its neighbouring suburbs.
“Properties in neighbouring suburbs are priced considerably higher, in some cases 10-15 per cent more, yet they don’t offer the same value for money as Keysborough where you can get quality three and four bedroom dwellings for well under $700,000,” says Marshall White Projects Director, Leonard Teplin.
“We are seeing considerable demand for luxury new homes in these outer south eastern suburbs and we don’t see this slowing any time soon, as the inner-suburban market continues to be pushed out of reach of first time buyers and younger families.”
“Marshall White Projects intends to focus on new estates in growth corridors during 2016 and are actively working with national developers on a retail selling strategy,” adds Teplin.