Cedar Woods is currently building their master-planned community, St A, in response to the growing demand for the townhome market.
Located 16 kilometres from Melbourne CBD in the suburb of St Albans, the new development is positioned within walking distance of the Alfreida Street shopping precinct and poised to benefit local the infrastructure and amenity upgrades.
Once completed the new St. A community will consist of a range of homes including traditional houses, town homes, and the potential for low-rise apartments.
Cedar Woods State Manager Patrick Archer said Cedar Woods’ town homes are architecturally designed to capitalise on space, delivering functionally superior living areas.
“We work closely with award winning architecture firm, DKO, to create functional town homes, delivering greater amenity within a desirable location and thus offering more housing opportunities for buyers," he said.
Newly constructed town homes within St A are being made to include energy efficient designs, new building warranties, National Broadband Network access, access to first home owner grants and stamp duty saving benefits.
Over the last few months St A has released a variety of town home products to satisfy the demands of the market.
Products like The Elm featured a mix of premium 3 and 4 bedroom detached and semi-detached homes, with a strong proportion being town homes.
“Elm was received extremely well with all properties selling out within 5 days. This demonstrates the strong demand for housing in St Albans and in particular for town homes,” Mr Archer said.
Another release, Oakden, launched in February and sold 88% of its town homes in its first launch weekend, proving that the modern home continues to be popular amongst the market.
“The town homes at St A are an excellent choice for first home buyers as they are affordable, offer generous amounts of space, include no body corporate fees and are being built in an architecturally designed master planned community within a booming suburb.”
Demand for town homes within Australian capital cities has increased in line with the the ‘hot’ property market and increasing price of traditional homes in established suburbs.
Tipped to become the home of the future, town homes are a desirable option for many buyers as they are a more affordable, low maintenance housing option that still meets the requirements of a traditional house.
With median house prices steadily increasing throughout Melbourne the ‘dream’ is increasingly difficult to attain as many first homebuyers are priced out of the traditional home market.
“With the strong property market currently at play, buyers are looking into alternative solutions for their housing requirements," Mr Archer said.
"Newly constructed town homes are offering an ideal solution to help keep ‘the great Australian dream’ a reality.
“Town homes and apartments have been particularly popular with a wide cross section of buyers looking for a low maintenance home that suits their busy lifestyles."