5 Melbourne CBD Apartments Under $1M
Stylish pads available in Melbourne’s CBD.
3 min
1008/111 A’Beckett Street, Melbourne, VIC
Pinned in a perfect location that celebrates the very best of Melbourne CBD comes this dreamy residence.
With a feeling of space and unity presented upon entry, the oversized dwelling areas allow your arrival home to be relaxing and refreshing.
Here, the 3-bedroom, 2-bathroom, 1-car apartment presents quality craftsmanship and materials that reflect modern elegance, the kitchen with modern, natural stone, perforated metal, breathable interior and Mile appliances.
Elsewhere the residence sees world-class residential amenities such as the outdoor cinema, pool, spa and entertainment facilities.
The property is with Setia, $991,000; spsetia.com
1013/118 Franklin Street, Melbourne, VIC
Here, a modern sun-drenched penthouse apartment presents 3-bedrooms, 2-bathrooms and 2-car parking across 154sqm capped off with a 30sqm rooftop terrace.
The kitchen is stunningly finished, with a large, u-shaped granite benchtop complemented by the black tiled splashback and power points, and is equipped with European appliances.
The master bedroom also features oak flooring and a double corner robe providing you with plenty of storage. The plantation shutters can be retracted to combine the bedroom and retreat into a singular space.
Further, a master ensuite comes complete with marble flooring, tiles and splashback with the other three bedrooms well sized.
The listing is with Ray White Southbank & Port Phillip; $1m – $1.1m; raywhitesouthbank.com.au
27/300 King Street, Melbourne, VIC
A unique space in the heart of Melbourne’s CBD – this 2-bedroom, 2-bathroom, 1-car parking residence is filled with distinctive details.
As you enter this second-floor apartment one notices curved walls, high ceilings, sunken lounge room and intelligently designed flooring frames each living zone.
A central zone incorporates the kitchen with soft close drawers and stainless-steel appliances including a Fisher & Paykel double drawer dishwasher, SMEG oven, large 4 burner gas cooktop and unique illuminated stove splashback for that extra wow factor.
The luxurious master bedroom has generous proportions and is complemented by a large walk-in robe and ensuite complete with a double vanity and extra-large shower. The additional spacious bedroom, also contains a walk-in robe and the central bathroom features a shower, separate bath and stunning tile feature wall.
The listing is with Biggin & Scott, $880,000 – $950,000; bigginandscott.com.au
4102/38 Rose Lane, Melbourne, VIC
This 3-bedroom, 2-bathroom, 2-car garage residence immersed in Melbourne’s CBD offers a stylish, lock-and-leave lifestyle.
Spread with sleek oak floors the home features a semi-enclosed balcony with views extending from the Bolte Bridge to the Victoria Market.
The kitchen sees a contemporary finish with stone tops, glass splashback and a full appointment of appliances.
Three generous robed bedrooms form the accommodation, with a modern ensuite and study nook off the main bedroom.
Facilities within the complex include a swimming pool, spa, gym, steam room, garden and barbecue amenities.
The listing is with RT Edgar, POA; rtedgar.com
1105/108 Flinders Street, Melbourne, VIC
This superb apartment, located on the 11th floor, features split level entry with storage facilities and stairs leading up to a stylish, light-filled open-plan living area with timber flooring.
Inside the 2-bedroom, 2-bathroom, 1-car apartment sees a timber and white stone-topped kitchen with Miele appliances with views via full-height glazing and an intimate outdoor terrace balcony.
Features include a central bathroom, study, euro laundry, two well-appointed and carpeted bedrooms – each with mirrored built-in robes – while the master enjoys an ensuite.
Further, the complex is privy to a rooftop terrace, internal landscaped courtyard, resident’s lounge and gym.
The listing is with Core Realty, POA; corerealty.com
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Capital cities lead the way as median home values see clear upswing
2 min
Home values continue their upwards trajectory, recording the strongest monthly growth in 18 months, CoreLogic data shows.
The property data provider reports that their Home Value Index has noted a third consecutive rise in values in May, accelerating 1.2 percent over the past month. This is on the back of a 0.6 percent increase in March and 0.5 percent rise in April.
Sydney recorded the strongest results, up 1.8 percent, the highest recorded in the city since September 2021. The fall in Sydney’s home values bottomed in January but have since accelerated sharply by 4.8 percent, adding $48,390 to the median dwelling value.
Melbourne recorded more modest gains, with home values increasing by 0.9 percent, bringing the total rise this quarter to 1.6 percent. It was the smaller capitals of Brisbane (up 1.4 percent) and Perth (up 1.3 percent) that reported stronger gains.
CoreLogic research director Tim Lawless said the lack of housing stock was an obvious influence on the growing values.
“Advertised listings trended lower through May with roughly 1,800 fewer capital city homes advertised for sale relative to the end of April. Inventory levels are -15.3 percent lower than they were at the same time last year and -24.4 percent below the previous five-year average for this time of year,” he said.
“With such a short supply of available housing stock, buyers are becoming more competitive and there’s an element of FOMO creeping into the market.
“Amid increased competition, auction clearance rates have trended higher, holding at 70 percent or above over the past three weeks. For private treaty sales, homes are selling faster and with less vendor discounting.”
Vendor discounting has been a feature in some parts of the country, particularly prestige regional areas that saw rapid price rises during the pandemic – and subsequent falls as people returned to the workplace in major centres.
The CoreLogic Home Value Index reports while prices appear to have found the floor in regional areas, the pace of recovery has been slower.
“Although regional home values are trending higher, the rate of gain hasn’t kept pace with the capitals. Over the past three months, growth in the combined capitals index was more than triple the pace of growth seen across the combined regionals at 2.8% and 0.8% respectively,” Mr Lawless said.
“Although advertised housing supply remains tight across regional Australia, demand from net overseas migration is less substantial. ABS data points to around 15% of Australia’s net overseas migration being centred in the regions each year. Additionally, a slowdown in internal migration rates across the regions has helped to ease the demand side pressures on housing.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
