The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
A one-day deep dive on office, retail, healthcare, childcare and alternative sectors
UPCOMING | COMMERCIAL REAL ESTATE SUMMIT
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterSun 14 Jun 15

New Metro Residences Blitz The Market In Balwyn

1

Buyer appetite for new luxury boutique homes in tightly held suburbs has proven strong for Metro Property Development, with its Banool Road, Balwyn project selling out within two weeks of hitting the market.

With an average price of $1.35 million, the Acacia Residences project comprises of 12 architecturally-designed three and four-bedroom homes.

Metro Property Development's General Manager of Victoria Developments, David Steele, said the impressive sales result highlighted the demand for well-priced sophisticated product within the highly sought after inner-eastern suburbs.

“Balwyn provides the right mix of lifestyle and location and our Acacia Residences offer buyers the luxury they are looking for at a fraction of the price of the larger, more established homes in the area,” Mr Steele said.

“The homes offer contemporary and comfortable luxury, with three or four bedrooms. The flexibility and space offered by the innovative floorplans have been major highlights for buyers.”

ALSO SEE: Opinion: Will ‘Plan Melbourne’ Create Healthier Neighbourhoods?

External sales agent Leonard Teplin of Marshall White, said the demand for house and land packages within Boorondara had never been higher.

“Balwyn's world renowned infrastructure and shopping facilities will continue to provide the astute purchasers of these new homes the capital growth of an excellent investment, as well as an enviable and rare Mews style living within the Balwyn High School Zone.

"Given the significant buyer focus on Balwyn it’s not surprising that the 12 homes sold at a rate of one a day. We could have placed another two or three similar developments during the same period, such was the interest."Construction on the Acacia Residences will commence in July with the first home due to be completed in June 2016.


ResidentialAustraliaReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Gelephu Mindfulness City: Bhutan how a city of the future is planned
Exclusive

Bhutan’s Mindfulness Masterplan Resetting How Cities Work

Renee McKeown
8 Min
Long Bay Correctional hero
Exclusive

Time to Rethink: Fresh Bid to Unlock Prison’s Prime Site for Homes

Clare Burnett
7 Min
Inside NSW Housing Divide-Mosman
Exclusive

‘The Machinery Underneath is Broken’: Inside NSW’s Housing Divide

Vanessa Croll
9 Min
Exclusive

Queensland Decade of Gigaprojects a Developer’s Goldmine

Phil Bartsch
5 Min
Multiplex Moderna facility
Exclusive

Industrial Subsectors Win Investor Attention as Demand Blossoms

Clare Burnett
7 Min
View All >
Gelephu Mindfulness City: Bhutan how a city of the future is planned
Exclusive

Bhutan’s Mindfulness Masterplan Resetting How Cities Work

Renee McKeown
An artist's impression of the proposed Harbour Esplanade development in Docklands HERO
Development

AFL, State Court Developers for Waterfront Docklands Project

Leon Della Bosca
Sponsored

The Risk Developers Keep Ignoring Until Too Late

Partner Content
This ‘blind-spot’ puts three months of progress payments at risk. And it’s happening right under the developers’ and len…
LATEST
Gelephu Mindfulness City: Bhutan how a city of the future is planned
Exclusive

Bhutan’s Mindfulness Masterplan Resetting How Cities Work

Renee McKeown
8 Min
An artist's impression of the proposed Harbour Esplanade development in Docklands HERO
Development

AFL, State Court Developers for Waterfront Docklands Project

Leon Della Bosca
3 Min
Finance

The Risk Developers Keep Ignoring Until Too Late

Partner Content
4 Min
Share-worthy features that celebrate the building's use in the film industry are designed by SJB Architects.
Hotel

‘Cinematic’ Hotel Makeover Under Way in Sydney CBD

Patrick Lau
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/metro-residences-blitz-market-balwyn