Thinking about buying an off the plan property in Inner Southeast Melbourne,VIC? You'll want to discover the Location Demographics, Travel & Infrastructure and Investor Insights.
Charlie is a first time home buyer who just bought an off the plan apartment in Inner Southeast Melbourne.
Last year, I decided to purchase my own place for the first time. Beforehand, I was renting at my previous apartment and was looking forward to having a home that belongs to me. After months of researching different kinds or properties and looking for a location that matches what I’m after, I finally settled on an off-the-plan apartment in Inner Southeast Melbourne. It has been the best property decision I’ve ever made and here’s why:
As an affluent and picturesque region, the Inner Southeast Melbourne area is well known for its vibrant communities and grand heritage homes. Being close to inner city attractions and filled with leafy streets, it is a popular choice for those wanting a balance between city living and suburban tranquillity. Some of the suburbs in the vicinity are Camberwell, Hawthorn, Armadale and Malvern.
In the Inner Southeast, there is always plenty to do and explore. I enjoy going for a picnic or a stroll at the lovely Read Gardens and visiting the Camberwell Market which is held every Sunday. It is a great spot for locals and visitors to find a diverse range of goods including fresh produce, artisanal food and vintage clothing. There are loads of restaurants to choose from along Glenferrie Road in Hawthorn. I get dinner with friends at the Rococo Restaurant which serves tasty Italian dishes or at the Colourful Yunnan Restaurant with delicious Chinese cuisine. During my free time, I like discovering the different boutiques, galleries and shops at Armadale. I can also find more department stores and casual dining at the Malvern Central Shopping Centre. The Malvern Public Gardens is also a great place to unwind and boasts delightful scenery.
With its upbeat surroundings and friendly neighbourhood, many professionals, families, singles and young couples have happily joined the lively neighbourhood. From the 2021 Census, the entire population at Malvern has around 10 000 people and the median age is 44 years old. Meanwhile, there are around 22 000 people and close to 6 000 families at Camberwell. At Hawthorn, there are over 22 300 residents while the population at Armadale has around 9 400 people.
Looking for a great option for families and professionals? Check out these listings here.
Whether you are commuting daily or just visiting the vicinity, everyone can easily pick from several public transport services at Inner Southeast Melbourne. For quick trips, take the tram with stops on Malvern Road and High Street. There are also more trams available on Burke Road and Camberwell Road. Buses are running on Tooronga Road, Bowen Street and at Reserve Road.
The Malvern Railway Station has 4 platforms and takes passengers along the Cranbourne Line, Frankston Line and Pakenham Line. To add, the Camberwell Railway Station has 3 platforms heading towards the Lilydale Line, Belgrave Line and the Alamein Line. Those driving can quickly access the Monash Freeway and the Princes Highway.
Looking for a property near public transport? Check out these listings here.
The Boroondara City Council have been encouraging local feedback for the Camberwell Junction Placemaking Project. With consultations happening this year, the vision aims to build a dynamic and prosperous metropolitan destination that has lively spaces, a thriving economy, attractive character and a highly liveable urban environment. Also involved in a few developments, the Stonnington City Council have upgraded the Malvern Valley streetscapes. It has been transformed to have additional social and green spaces and the construction for new sports facilities at the Percy Treyvaud Memorial Park.
Specifically in Camberwell, the gross rental yield for apartments is 2.2% and the weekly median rent is $450. On the other hand, the gross rental yield for houses is 1.6% and the median rent is much higher at $780 per week. In the past decade, the median property price in 2013 was $590k and increased to $855k in 2018. The current median property price has moved up to $885k.
If you think the Inner Southeast Melbourne area has what you’re looking for, why not look into buying an off the plan property there? You can start your search here or book an appointment to speak with our team of property experts to see if this is the right area for your property needs.
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