Southbank development Habitat slashes two-bedroom prices by $30,000, with first-home buyer deadline days away

Prices for some apartments in Vicland’s Southbank development, Habitat, have been cut by $30,000.

Motion Property is selling four two-bedroom apartments, which now start at $530,000.

Until June 30, first-home buyers who buy a property under $600,000 will be entitled to a $13,000 bonus from the Victorian governmnent. From July 1 this year, first-home buyers will be entitled to a 20% reduction in stamp duty on homes under $600,000. For a home costing $600,000, this equates to a stamp duty savings of $6,214, less than half what a first-home buyer would secure from the first-home bonus.

The building is the work of Melbourne architectural firm RotheLowman, which instead of individual balconies for apartments designed communal, three-storey vertical gardens with built-in furniture on each level. This was to avoid the noise from the neighbouring elevated freeway.

The building is currently under construction on Clarke Street, and the roof is expected to include landscaping, a cinema and dining spaces.

The project is billed as environmentally friendly, even including a bike workshop on the bottom floor.