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Inner city living has a new address

Milton is on the move. At the beating heart of Brisbane’s inner west, the suburb is on the cusp of a major transformation that will see it become one of the city’s most contemporary residential and lifestyle addresses.

The Milton is set to drive this rejuvenation.

Drawing on the modern principles of transit oriented communities, The Milton capitalises on its unmatched location immediately adjacent to Milton Railway Station to create a vibrant urban hub only two kilometres from the Brisbane CBD and will incorporate residential apartments, offices and retail.

Michael Matusik on The Milton

Michael Matusik on The Milton

Australia's leading independent property analyst Michael Matusik provides a detailed review of the Brisbane Inner West property market and the Milton development.

Michael Matusik on the Milton - Video Transcription

Hi, my name is Michael Matusik. I'm at Aveo's latest project, The Milton, just two railway stops from the Brisbane GPO. There are lots of things I really like about this project, not only its location, but its timing, the apartment designs, the product mix, the views that each apartment enjoys, and also the lift to apartment ratio and also the developer itself. Let's look at those things in more detail.

One of the things I've learned after two decades of being a property analyst is when you buy a property is the key to success. Now is a great time to buy property, especially in inner Brisbane, which is at the bottom of its property cycle. People usually buy way too late. Also, it pays to take a long-term view. If you look at apartment values around the Milton area, they've been growing by 12% per annum over the last decade.

The second key to success is where you buy property. The Milton, as the name suggests, is right next to the Milton railway station, which is just two stops from the Brisbane GPO. It's also adjacent to an established retail, office, and entertainment precinct, and the University of Queensland, with 33,000 full-time students, is just minutes away. Importantly, The Milton is located in the inner western suburbs of Brisbane, and this area holds a significant proportion of the more affluent residents within the city. Whilst apartment living started out in this precinct, there's been little new supply in this area of late. Now despite pent up demand, this area also only holds 10% of the overall new supply in the Brisbane inner city market, and as a result, vacancy rates are low and rents are starting to rise.

As well as being a TOD, which is a transport oriented development, The Milton is in the middle of a number of major new infrastructure projects, and these include: the redevelopment of the old Milton Tennis Centre into a regional park; the upgrading of the bikeway system along the Brisbane River, linking the inner western suburbs to the CBD and beyond; and access to the inner northern tunnel, greatly improving vehicle access to the Brisbane Airport and both the Gold and Sunshine Coasts.

The third ingredient to buying well is what you buy. In general, apartments in The Milton are ten square metres larger than other new apartments currently for sale in inner Brisbane. This generous size, plus high wall to glass ratio, and open plan living makes these apartments appealing not only to owner residents, but to investors as well. Larger space allows tenants to share, which gets an investor a greater rental return.

Too many people who buy off the plan get caught in the sales spin and don't focus on the nitty-gritty. One of the key things when buying an apartment is the number of lifts in the complex, and The Milton's very generous in that regard. It has four lifts per level, which equates to one lift for every three apartments. Each apartment also has a long range and impressive view, and 60% of the apartments in the complex are two bedrooms.

The Milton is being developed by publicly listed Australian developer, the Aveo Property Group. Aveo have a very strong record of building quality projects across Australia. In recent times they've also build several new apartment projects across inner Brisbane. Official government statistics show that across the inner west, those apartment projects have resold better than the other local developments.

The Milton offers the astute inner city apartment buyer many real points of difference, and it's worth a closer look.

The Milton will feature:

  • A mix of contemporary one and two bedroom apartments
  • Resident only facilities featuring pool, sauna, gymnasium, Barbeque deck, recreational area and rooftop observation deck
  • Premium office suites where business and lifestyle come together
  • Boutique and convenient retail space, located on promenade and street frontage locations providing a one-stop destination for the immediate local community
  • A multi-million dollar upgrade to Milton Railway Station

Milton Real Estate News

The Milton on Real Estate News TV

Australia's third largest city, Brisbane, has grown from a big country town to a legitimate cosmopolitan city in recent years. And with the recently large, hugely successful $210 million development, offering 300 apartments, it's about to become the place to invest.

Milton Realestate News Video Transcription

Bryce O'Connor.

Milton is a suburb two kilometres from the CBD. It's an established area. It's very, very central to Caxton Stree, Suncorp Stadium. You've got the university is very close and schools.

Barry Lee

It's a mixed use development. So as well as the residential apartments, we have commercial office spaces, restaurants, shops, and a supermarket. So everything that you would need, throughout the day, for your life, could be occupied within this one building. You would never need to leave.

Well, I suppose the most important thing to understand about this project is it's part of a change that's occurring at Brisbane at the moment, where people are starting to understand the advantages of living in inner city areas. Particularly areas like this, in Milton, where you've got such fantastic access to public transport, you've got access to great restaurants, everything you need within a couple of minutes walk. And that really saves people so much time on their day-to-day lives and also facilitates a wonderful lifestyle.

The area is already great. This can only make it boom. I've been here 22 years just waiting for this to happen.

Joe Virzi

Milton is a great place to live because it's very peaceful. People are nice in the area. You feel safe.

Warren Coyle

DBI Design work internationally, and we cover the fields of architecture, interior design, and landscape design. Of all of our projects, including projects across the world, The Milton has been one of the most exciting to be involved in. We're particularly excited to be involved with FKP, as one of the preeminent developers.

Barry Lee

The main consideration of the design of the apartments, of course, has been the views. The views to the city are spectacular. The views to the south over the river are beautiful, and then we've got the northern aspect out to the Bay and to Mount Coot-tha. So it's all about enjoying the view. Floor to ceiling glass, full width, no obstructions, so you can make the most of the view, and let's be honest, in high-rise buildings, view is the most critical thing that people are looking for. We've created very, very large balconies. All the windows open up, so that there's a seamless connection from the balcony to the interior space, which makes the spaces feel more generous, but brings in this Queensland subtropical lifestyle that we all enjoy so much.

The kitchens are quite compact, but they're designed to be able to cook in with a group of people and enjoy having friends over for dinner.

Of the 298 apartments, half of them are one-bedders and the other half are two. The two bedroom apartments have the bedrooms divided by the living spaces. This allows for acoustic privacy and also allows the living areas to have a sense that they are contained. They don't have doorways and corridors coming off them. It also means the plan is much more efficient because you're not consuming valuable floor space for corridors. The bathrooms are very contemporary and very simple in their design, which will make them feel more spacious, but also more luxurious.

There are also private facilities. There's a large residence lounge area, which is fitted out with Armani furniture. There's a beautiful swimming pool with spectacular views back to the city skyline. So it is the kind of facility that would be unparallel in a building like this in Brisbane.

On top of the commercial podium, there's a level of landscape, and most of that faces north or faces back to the city to capture those city views. People are starting to understand the advantages of being located very close to public transport. In this project, where you have only one stop back to the city, it's probably one of the most convenient locations in Brisbane.

Michael Matusik

Brisbane is a great place to invest at the moment. It's the bottom of the cycle. It's got low vacancy rates, and things are starting to improve and particularly in the western flank of the city, where there's not enough apartments. In this project, The Milton, it's actually targeting a professional market, well designed units. It's one of the fastest growing areas in terms of resale values in Brisbane, and it compares well with other places in Australia. Over the last ten years, prices have exceeded ten percent per annum in this western corridor.

Barry Lee

Research has shown that properties located around railway stations and transport hubs around the world increase in value more quickly than properties that are isolated from transport systems.

Joe Virzi

I would invest in it simply because I go downstairs and I'm off to work. Save the energy. So it's a great spot.

Bryce O'Connor

The median unit price in the Milton area is $540,000 thousand. Now, our entry level price point starts from $387,000, and we believe that is fantastic value.