Yes, from where it was to now and with heaps more potential to go .... where else can you get so close to the water and enjoy both the convenience of city life, evening walks, primary school, and well suited to transit to a young family .... rather live in Docklands now than busy/noisy place like Southbank, St Kilda, etc... before being build-out and gets pricey in years to come ... Represent a good investment too (during Covid is an exception) ....
I'd be asking myself a few questions.
Are you going to landbank it and hope it goes up in value, live in it or rent it out?
If you are going to rent, whats the occupancy rate like? Whats the demand?
There's already plenty of competition in that area for renters money.
Are there other developments happening there?
Will your apartment not be as keenly sort after compared to newer apartments, and even more competition.
How has the value of apartments been tracking?
New rules mean investors wont be able to keep their apartments vacant without a financial penalty.
Will that likely put more rental properties on the market?