City still a place to call home

Over its residential lifetime, Melbourne’s CBD property market has had a long and chequered history. And no period more so than the past two years.

With a mass exodus of residents early in 2020 and intermittent lockdowns due to COVID-19, growing international instability and war, along with rising inflation and a bruising federal election campaign, Melbourne’s property market, particularly within the CBD, is beginning to slow.

This is causing some caution from buyers and investors.

But, as with all rules, there is always an exception.

The team at Donazzan Boutique Property (DBP) headed by founder Gina Donazzan continue to prove the CBD is still one of Melbourne’s most desirable suburbs with a cavalry of strong results.

“I do truly believe what we do and how we do it makes a difference,” Ms Donazzan said. “Our process isn’t the run-of-the-mill style, and I won’t sacrifice on transparency, integrity and hard work.”

I think you will find that is proven in our results.

Some of Ms Donazzan’s recent results include a three-bedroom home at the renowned Georges Apartments selling for $2.4 million; one of the rarest heritage penthouse apartments in the city at 1 Exhibition St, featuring expansive views of the Yarra River and Botanic Gardens, again fetching $2.4 million; and 237 Flinders Ln, another piece of remarkable period architecture, which, although adjacent to the Metro Tunnel building works, still sold for $2.15 million.

According to Ms Donazzan, there is an increasing number of people who see the city as a beautiful option for themselves to move, whether that be CBD first timers or locals jumping from apartment to apartment.

Research commissioned by the City of Melbourne found more than 56 per cent of first home buyers surveyed are likely to consider buying in Melbourne, with many citing the allure of the city and a desire to be close to the action.

While 48 per cent of those already living in Melbourne said they were also considering buying property in the area.

DBP director Kim Davey told CBD News while their agency continues to defy market expectations, there is one common denominator that is the catalyst for their success.

“I’m obviously a bit biased, but I have a strong belief the results directly correlate to the agent you choose, and no agent knows the CBD like Gina,” Mr Davey said.

“You need to go with an agent that continually speaks with her clients every day. Her clients don’t look at REA they refer directly to her to get a gauge on the market.”

“There are still beautiful properties and beautiful buildings on offer in the CBD, come speak to some of the agents who have been working here for decades.” •

For more information: donazzanboutiqueproperty.com.au