Many are taking advantage of the recent growth in prices – the house median is now $843,000 in Moonee Ponds – to trade in weekends of lawn mowing with time to catch up with friends and entertain. And if sales of the MoPo development in Moonee Ponds are anything to go by, they are quite partial to entertaining on a communal rooftop terrace with a movie screen as a backdrop and a shared BBQ and kitchenette nearby.

Of the 126 apartments in the MoPo development 85 have now sold.

Brent Hill, director of 360 Property Group, which is marketing the development, reports there has been a "very strong take up by the local market, particularly with mums and dads looking for a luxury two and three-bedroom good-sized apartments".

Investors, meanwhile, have been more interested in the one-bedroom apartments.

Buyers have been attracted to the generous internal sizes and the high-quality finishes. They also like the communal spaces – which include the rooftop terrace. "They can actually cook their food for guests coming along and there are two BBQ facilities also out on the roof where they can take advantage of the city view," Hill says.

"If they are looking to transition from a bigger 40-square home into an apartment, they are liking the opportunity to be able to have that extra outdoor space. They are wanting to entertain. They may not be able to do that within their apartment but they are still looking to do that elsewhere."

The communal dining area seats 12 people.

Part of the attraction of MoPo has been the clean lines and clever space-saving inclusions chosen by celebrity interior designer Darren Palmer, well known for being a judge on the renovation program The Block.

Palmer's upmarket touches start in the lobby where marble has been mixed with mirrored and bronze metal surfaces. Inside the apartments, bronze detailing adds depth to the materials and extra texture has been created with vertical panelling on the kitchen walls and stone benchtops.

Palmer describes the interiors as "high end without the fuss".

The approach links well with the building itself, which was designed to meld in with its surroundings in what is a changing suburb.

Peddle Thorp architect Steve Tillinger says he wanted MoPo to sit comfortably in its space for years to come. "The simplified material palette is something we think that will last long into the future and will not date," Tillinger says.

"We wanted a robust clean façade that was quite honest and didn't need to do much to stand out in the streetscape. We think that is appealing to people because they can relate to clean lines and simple geometry.

"There is a symmetry to its presentation, it's not something that makes you feel awkward or intimidated."

Construction of MoPo, which Hill says is a game-changer for the suburb, will commence in about seven weeks. "The developer is also the builder, which will enable a lot more quality control," Hill says.

MoPo, at 333 Ascot Vale Road, is scheduled to be finished by the end of next year.

Moonee Ponds is 6.5kilometres north-west of the CBD. Amenities include the cafes and shops along Puckle Street, a train station on the Craigieburn line, easy access to CityLink and multiple trams and buses. Nearby are walking and cycling trails along the Maribyrnong River and there is a heritage lake and gardens at Queens Park.

One-bedrooms start from $380,000, two-bedrooms are priced from $448,000, and three-bedrooms begin at $675,000.