Melbourne buyers rush Geelong city units
Melbourne buyers snapped up 40 per cent of the apartments sold in Geelong's biggest residential development, G1, over the weekend.
The $80 million project in Bellerine Street, next to the Geelong city centre, racked up 30 sales at its weekend launch, a "ballistic" result, according to the project's marketer, John Castran of Castran Projects.
G1 offers 110 apartments over six levels, with prices starting from $289,000 for a 53-square-metre one-bedroom unit with a car park and balcony.
Two-bedroom units start from $389,000 and three-bedders from $550,000.
According to CoreLogic, the median apartment price in Melbourne is $480,000.