Modern Glenroy townhouses are drawing fierce first-home buyer competition, with strong demand, rising bidder numbers and shrinking days on market signalling a red-hot entry-level market.
First-home buyer demand in Melbourne’s north has helped a Glenroy townhouse sell for $533,000 as competition among entry-level buyers continues to intensify.
A first-home buyer has snapped up a $533,000 Glenroy townhouse, declaring a “proper garage” has become property gold in the $500,000 market.
The street-front home at 1/7 Gladstone Parade, Glenroy, attracted strong buyer interest before selling to first-home buyer Kes Magpayo on Saturday.
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“What stood out about the property was that it ticked a lot of boxes,” Mr Magpayo said.
“It’s close to transport, close to where my friends live and well connected to everything I need day to day.”
The townhouse features open-plan living, a balcony and a rare street-front position that helped it stand out among other homes in the price bracket.
“Because it’s a street-front, front-facing property, that makes it quite rare for this type of home at this price point,” Mr Magpayo said.
A sleek, contemporary design with clean lines, quality finishes and low-maintenance appeal is striking a chord with style-conscious buyers chasing turnkey living.
“A garage was also extremely important to me because it’s actually quite difficult to find a property with a proper garage rather than just a carport in this price bracket.”
Mr Magpayo said the purchase marked his first step into the property market.
“I’m a first-home buyer, so for me it was a really great entry point into the market,” he said.
Light-filled upstairs zones offer private retreat-style living, delivering the separation and flexibility modern buyers are prioritising.
Ray White Glenroy agent Abdullah El Hosari said demand for entry-level homes had remained strong despite recent interest rate movements.
“The first-home buyer market hasn’t slowed down whatsoever,” Mr El Hosari said.
“Even with the interest rate movement we saw about a month ago, demand has remained very strong.”
/7 Gladstone Parade, Glenroy, showcases the sweet spot for buyers, a modern, well-located home within walking distance to transport, shops and everyday essentials.
He said the campaign attracted a wide mix of buyers, although first-home buyers were the most active.
Mr El Hosari said Glenroy’s proximity to the CBD and strong transport links continued to drive demand.
“A lot of the buyers we deal with are working in or around the city, so proximity to a train station is always highly valuable,” he said.
“One of the biggest changes in the last year has been the number of bidders we’re seeing at first homebuyer auctions.
“Competition has definitely picked up.”
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