After the continued success at Riverdale Village, APD Projects is proud to again collaborate with YourLand Developments at Seventh Bend, a brand-new community in the new suburb of Weir Views. The project was launched at the start of July and is already achieving strong sales in an increasingly competitive market.
Unless you’ve been hiding under a rock, you’ll probably already know the growth corridor to the west of Melbourne has seen a huge surge in activity, with sales of new land breaking records left, right and centre. For many years, this activity was driven by demand for well-priced land, within a reasonable distance to the CBD. More recently, Melton has risen to prominence, having seen unprecedented levels of growth in population and a strong commitment to future infrastructure.
Melton is one of Australia’s fastest growing communities and according to City of Melton Council’s website, during 2015 – 2016 it had the fourth fastest (4.4 per cent) and the fifth largest (5,816) growth in Victoria. The increase in population is projected to sit at around 4 – 4.5% per annum, which suggests the City’s population will exceed 347,000 by 2041, making it almost the size of Canberra.
Interestingly, a 2015 Melton City Council statistic revealed 70% of residents in Melton were aged under 45. This is a strong indication Melton is fast becoming one of the most affordable options for young families to establish a home in an up-and-coming area. Combine this with commitments from Local and State Government such as $1.1m of upgrades to four local schools and a $13.5m redevelopment of the CBD, Melton really ticks all the boxes for young families.
At a time when housing affordability is the favoured buzzword of politicians and journalists alike, current land prices in Melton represent great value for money. And latest figures from Research 4’s National Land Survey Program reflect this trend with monthly land sales up by 51% and the median lot (400m2) saw a price increase of 32% over the last year.
So, when all’s considered, it’s easy to see Melton as the quiet achiever and at APD Projects, we are excited to be involved at Seventh Bend, contributing to the future of this burgeoning community.