Melbourne unit values rise 0.6 per cent in December: What you can buy for the new median

Melbourne's unit median now sits at $576,905 after seeing a 0.6 per cent rise in unit values over December.

Melbourne unit values rise 0.6 per cent in December: What you can buy for the new median
Melbourne unit values rise 0.6 per cent in December: What you can buy for the new median

The Melbourne unit market continued to shrug off the worst of the 2020 COVID impact on property, recording 0.6 per cent gains over December, according to data analytics firm CoreLogic.

It followed from 0.1 per cent gains in October and 0.7 per cent gains in November to be 1.4 per cent up over the quarter. The quarterly performance saw apartments offset any early year losses to be flat over the calendar year.

The unit market comfortably outperformed the housing market over 2020, with houses contracting two per cent, CoreLogic's data found.

The unit median rose to $576,905 over December, now higher than July levels.

Urban has taken a look at five apartments blocks to secure under the median apartment value.

Canvas, Brunswick

Address: 272 Barkly Street, Brunswick, VIC 3056

Melbourne unit values rise 0.6 per cent in December: What you can buy for the new median

Canvas, the Brunswick development by ID Land, has one bedroom apartments starting from $480,000, well below Melbourne's median apartment price. The facade of the Rothelowman-designed block pays homage to Brunswick’s industrial past. Formed by concrete construction and urban design principles, the visual grid spans the building, framing each apartment. It will feature 62 one, two and three bedroom residences with interiors by Hecker Guthrie, expected to be completed in 2022.

Their two beds start from $680,000.

Parkhill Apartments, West Melbourne

Address: 408 Spencer Street, West Melbourne VIC 3003

Melbourne unit values rise 0.6 per cent in December: What you can buy for the new median

Parkhill Apartments in West Melbourne are offering one bedrooms starting from $479,000, developed by the award-winning Central Equity. Early buyers will have the chance to save $430,000 on stamp duty.

Parkhill Apartments has a range of one and two bedroom apartments with 6.5 Star energy ratings. There's a rooftop gym for residents and a rooftop garden with outdoor seating and barbecue areas.

Hawthorn Park, Hawthorn East

Address: 33 Camberwell Road, Hawthorn East VIC 3123

Melbourne unit values rise 0.6 per cent in December: What you can buy for the new median

Just over the rising median is Hawthorn Park, where developer Dahua Group is offering its one beds in from $609,000. The Camberwell Road development, estimated to be completed earlier this year, comprises 368 residences spread across seven floors and five buildings. Another designed by architect Rothelowman, Hawthorn Park features a fully-equipped gym with yoga and meditation studio, massage suites, a sky boardwalk, sky lounge, garden pavilion and a swimming pool.

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and new developments across the country

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Apartment Development Inner Melbourne Affordable

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