The large separate titled townhouses at Norfolk Terraces in Springbank Rise are being snapped up by first home buyers due to a number of offerings not typically available to people entering into the property market.
Peter Scott at Colliers International said the appeal of larger than normally offered floor plans with private outdoor space and all for less than the price of apartments has been a major reason for such high interest shown in the development.
“Although we’ve seen a shift over the past few years to apartment living, there are still many Canberrans who would prefer to live in a house or townhouse.
“I’m not surprised at the number of people we’ve spoken to about buying at Norfolk Terraces”, said Peter.
“First home buyers typically have a long list of things they would like in their first home, and unlike most developments, Norfolk Terraces meet their needs and wants.
“The price is typically within their budget, they like the idea of living in a master planned community, they are larger than they thought they could afford, they can provide input on the internal design and they are offered on a community title.”
Townhouses in Canberra are typically sold under the Unit Title Scheme. Community Title is not very common in Canberra but there are many advantages.
Peter explains, “When you buy in a Community Title scheme you own your private front and backyards and all the buildings and structures on your block. You can make changes as you see fit.
“This is really no different to purchasing a typical block of land and building a house on it.
“The Body Corporate doesn't get to decide if you can have pets and the fees are typically less than under a Unit Title.”
Norfolk Terraces has been designed to give owners privacy and flexibility even though they've bought into a master planned estate which has consistency in building design and common areas maintained.
1 bedroom plus study and 2 bedroom designs start from 107sq m for $325,500. For more information visit norfolkterraces.com.au or call Peter Scott on 0435 960 527.