Brunswick townhouses priced from $1.549m secured funding in four weeks, defying Melbourne’s construction slowdown and highlighting strong inner-north buyer demand.
Wealthy buyers are splashing $1.55m on Brunswick townhouses in just four weeks, defying a brutal construction crisis that has left other Melbourne projects struggling to get off the ground.
Neometro confirmed its project at 146 Union St, Brunswick secured enough buyer contracts to lock in construction funding less than a month after launching its display suite, a rare result in Melbourne’s battered development market.
Prices start from $1.549m, more than $270,000 above Brunswick’s median house price of $1.281m, according to PropTrack data, highlighting the premium some buyers are willing to pay for a newly built home in the inner north.
RELATED: Singles priced out of Melb: Harsh reality of buying home
Bargain hunt: Melb house sales tipped to jump 20pc
Melb buyers claw back $18k in auctions
Neometro director James Tutton said the pace of sales had been extraordinary given the difficult conditions facing developers across Melbourne.
“The pace of reservations was extraordinary,” Mr Tutton said.
“We’re not aware of another Melbourne development that has reached this funding milestone so quickly in the current environment.”
The result comes as many apartment and townhouse projects across Melbourne are taking far longer to reach funding, while others have stalled before construction can even begin.
Private outdoor zones offer low-maintenance living, appealing to buyers chasing space without the upkeep of a traditional backyard.
Developers across Victoria have warned rising construction costs, financing hurdles and lengthy planning delays are making projects increasingly hard to get moving.
Some have been paused, redesigned or pushed back as builders and developers try to make the numbers stack up.
Against that backdrop, Mr Tutton said the Union St response showed buyers were still prepared to move quickly for the right kind of townhouse in the right suburb.
“There’s strong interest in homes that allow people to stay connected to the neighbourhoods they already know and enjoy,” he said.
“Being able to live close to transport, schools, hospitality and established shopping strips remains incredibly important for many buyers.”
Contemporary kitchens feature premium finishes and functional layouts, designed for everyday living and effortless entertaining.
Mr Tutton said the speed of the sales reflected ongoing demand for well-located townhouses in established inner-city suburbs, particularly in areas where detached housing had become increasingly difficult to access.
The project sits in a quiet residential pocket near Jewell Station Village, tucked behind Sydney Rd and within walking distance of cafes, parks and public transport.
It will deliver a collection of three-bedroom townhouses designed for long-term living in Melbourne’s inner north.
Architect-designed townhouses focus on long-term liveability, blending modern aesthetics with practical layouts in a tightly held inner-city pocket.
The Union St development marks Neometro’s fifth project in Brunswick, continuing the developer’s focus on design-led housing in the suburb.
Construction is expected to begin once funding milestones are finalised, with the project slated for completion in 2027.
Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.
MORE: Portelli’s brutal blow in dud Block cash loss
Melb’s 40-year mortgage trap revealed
Inside Melb fitness queen’s wild $9m glass cathedral
david.bonaddio@news.com.au
English (US) · 