Medium-density living in Melbourne’s west continues to rise
Following the continual increase in demand for medium-density housing in Melbourne’s west, ASX listed developer Cedar Woods has announced the launch of its fourth apartment offering in Williams Landing, Lincoln Apartments.
Architecturally designed by DKO Architecture, Lincoln Apartments will bring an additional 125 dwellings over nine levels to Williams Landing and will be the largest residential building to be developed in the area to date which demonstrates the underlying demand for this product type in the west.
Located within the City of Wyndham which has been identified as one of Australia’s fastest growing municipalities, the launch of Lincoln Apartments follows the recent success of Cedar Woods’ Lancaster Apartments, which sold out within seven months of launch and prior to construction commencing.
Additionally, Cedar Woods’ Newton and Oxford Apartments, both of which are also located in Williams Landing, realised strong sales results selling out within six and nine months respectively.
According to Cedar Woods state manager Lloyd Collins, population growth has been a key driver for higher density living in Melbourne’s suburbs.
“As our population continues to grow, we have witnessed a growing demand for apartments in suburbs not traditionally associated with high-rise living, and this is a trend we expect to see continue.
“Our Williams Landing Town Centre, which offers residential apartments alongside new retail and other employment opportunities, demonstrates how local amenity is supporting the suburban population growth,” said Mr Collins.
Located in the heart of Williams Landing, Lincoln Apartments are just 20 kilometres from Melbourne’s CBD and features direct freeway access. The development is within walking distance to the Williams Landing Train Station, the Williams Landing Shopping Centre as well as neighbourhood parks, sporting reserves and a fully licensed restaurant dining precinct.
In terms of design, the apartments will provide residents with generous light filled spaces, opulent living zones and exceptional indoor/outdoor integration.
Apartments in Williams Landing have achieved steady price growth as the suburb continues to develop into a mixed-use residential, commercial and retail hub. Since the launch of Cedar Woods’ Newton Apartments in 2015, the average apartment value in Williams Landing has increased by 16 per cent for two-bedroom residences and 13 per cent for one-bedroom residences.
Set to attract first-home buyers and investors, Lincoln Apartments will be a welcome addition for the City of Wyndham which has recently overtaken Geelong as the largest Victorian city outside Melbourne.
“The Lincoln Apartments offer an affordable entry point to Melbourne’s property market. As Wyndham’s population is growing at an incredible rate, it’s no surprise that apartments are making their way into the areas that are within close proximity to public transport, freeways and employment opportunities,” Mr Collins adds.
Williams Landing is unique as a residential growth suburb in Wyndham. According to a report by MacroPlan Dimasi, Williams Landing’s population has increased by 3,423 residents from 2011 to 2016, with its share of the total Wyndham population also rising from 1.9 per cent to 2.9 per cent.
Throughout Williams Landing, Cedar Woods continues to create affordable high-quality, architecturally designed apartments beyond Melbourne’s inner suburbs. Lincoln Apartments include a selection of one-bedroom residences starting from $325,000, and two-bedroom residences from $395,000.
Construction of the Lincoln Apartment building is scheduled to commence in mid-2019 with completion slated for 2020.