Murrumbeena off-the-plan townhouse breaks suburb record

What the exterior of 17c Murrumbeena Crescent, Murrumbeena is slated to look like once completed.

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A townhouse suburb record in Melbourne’s southeast has been broken in a highly sought-after off-the-plan sale.

The five-bedroom, four-bathroom residence at 17c Murrumbeena Cres, Murrumbeena sold for $2.1m.

The sale beat the suburb benchmark for townhouses by $125,000, CoreLogic records show.

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The luxurious kitchen features Smeg appliances.

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The off the plan townhome’s are designed for families to move in and grow with it.

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The previous record was held in Strathearn Ave, where a four-bedroom residence sold in April for $1.875m.

Jellis Craig Carnegie agent Andrew Panagopoulos said family downsizers and various young professionals expressed interest in the property.

“New townhouse developments are selling well if the quality in design is good,” Mr Panagopoulous said.

“For this sale, the quality of the finish was the selling point for the buyers.”

Oxford Development Group and Sync Project management director Kallan Carabott said the record-breaking sale demonstrates the strong drive for high-quality structures, and the result gives some confidence in the market.

One of the spacious bedrooms

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“I’ve built apartments over Covid and it was a nightmare, he said.

“The state government made it hard to do our job, but we are seeing a resurgence in builds across Victoria despite construction being more expensive.

“I think the state government needs to make the construction space a friendlier environment for developers. My colleagues feel it’s not the case. When you look at areas like land tax, it’s putting a lot of projects on hold.”

Mr Carabott said other than the quality of build, the secret to a great sale result is location.

“You make money when you buy the site, not when you sell the site,” he said.

“Then you pay attention to the quality – we need to have greater attention to detail on the quality in the construction industry, so we have better outcomes for our clients.”

The bathrooms include an enormous shower and a his and her sink

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The Murrumbeena Cres home includes beach oak timber floors with a matte brushed finish, travertine-look tiling, plush Victoria carpets floor-to-ceiling windows and Tundra Gray natural stone.

The large home is designed to accommodate families in all stages, allowing them to move in and grow with the house.

Oxford Developments worked alongside Fynan Constructions throughout the home’s construction process.

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