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Doncaster Hill Site Sells For $3 Million

In the 1990s, then-milestone suburban apartment towers capturing postcard city views were developed around Sovereign Point Court, opposite Westfield Doncaster, and met with buyer success.

These buildings have been credited by planners as Melbourne’s first examples of suburban high density living. However the novelty did not stretch into the 2000s, when many large Doncaster apartment projects were shelved after failing to attract buyers.

Putting a cap on the supply of land available for development fixed that problem, with suburban apartments now representing better value than a house on land than they did in the 2000s when many of these Doncaster projects were being marketed.

The now redundant Melbourne 2030 planning policy, which encouraged high density development around existing transport nodes, is credited with the apartment boom – and subsequent traffic woes – that have ensued since the Sovereign Point Court towers.

About Marc Pallisco

Marc is a leading Real Estate freelance writer, author and analyst. He is also the founder for Realestatesource.com.au and is also employed as lead property writer for The Age. He currently resides in Melbourne, Victoria.

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