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Melbourne Area Profile: Ivanhoe/Inner North East, VIC 3079

 

Thinking about buying an off the plan property in Ivanhoe/Inner North East, VIC? You'll want to discover the Location Demographics, Travel & Infrastructure and Investor Insights. 

 

I bought an investment property in Ivanhoe/Inner North East. Here’s why:

Kenny is a first time investor who just bought an off the plan apartment in Ivanhoe/Inner North East. 

Last year, I decided to enhance my portfolio by investing in a property. I was already staying at my current apartment but was also determined to purchase a property to establish an investment. After months of researching for the right place and finding the area that best suits what I’m after, I finally settled on an off-the-plan apartment in Ivanhoe/Inner North East. It has been the best property decision I’ve ever made and here’s why: 

 

Location

Situated close to 12 km north-east of Melbourne’s Central Business District, the wonderful suburb of Ivanhoe is nestled between vast parklands and reserves. It is also filled with tree-lined streets and lush greenery. A few of the surrounding suburbs that can be found within the Inner North East are Heidelberg, Preston, Ivanhoe East and Eaglemont.

At Ivanhoe, I am welcomed into a peaceful environment with idyllic natural surroundings. I like to spend time at Chelsworth Park which has heaps of sports facilities and picnic spaces. To get the day started, I have a tasty breakfast at the Pinkie Cafe on Westley Avenue or at the Foreigner Cafe on Ivanhoe Parade. The Toyama Japanese Restaurant and the L’Artigiano Restaurant are great spots for dinner plans. Only a quick walk, I can choose from a range of assorted shops and supermarkets at Ivanhoe Plaza Shopping Centre. There are also boutiques and groceries lined up on Upper Heidelberg Road. To unwind, I get together with friends at the Ivanhoe Public Golf Course which boasts ponds, lagoons and fairways. 

 

People

In a relaxed environment and friendly neighbourhood, families, professionals and retirees have been able to settle in with ease and are conveniently linked to city amenities. According to the Australian Bureau of Statistics, there are around 13 400 residents making up the entire population. There are more than 3 600 families and close to 6 200 private dwellings that have been established.  The 2021 Census has also calculated the median age to be 40 years old and most people being between 30 to 35 years old. 

Looking for a great option for families and professionals? Check out these listings.

 

Transport 

With various public transport services near Ivanhoe/Inner North East, commuters are able to reach their destinations quickly. You can also catch the bus for shorter trips with stops on Norman Street and Upper Heidelberg Road. The Ivanhoe Railway Station is right at the heart of town and has trains running on the Hurstbridge Line. Alternatively, the Darebin Railway Station is just around the corner and has 2 platforms. 

If you’re going by car, drivers are connected to the Eastern Freeway for straightforward journeys. Being close to several public transport options, everyone can enjoy easy and efficient trips. To add, the Wilson Reserve also has walking and cycling trails by the riverside.  

Looking for a property near public transport? Check out these listings. 

 

Developments and Infrastructure

In the Banyule Community Vision 2041 Shaping Our Future Project, the council had worked with local participation to help inform and determine the main focus areas. The key themes include being an inclusive and connected community, creating a sustainable environment, having a liveable place that caters to all, valuing assets and facilities, supporting a thriving economy and supporting innovative and responsive leadership. The draft Community Infrastructure Plan for Banyule has been developed which focuses on youth centres, child health centres, sport pavilions and arts and culture spaces.

 

Investor Insights 

The median rent per week at Ivanhoe/Inner North East Area is $430 with a 2.7% gross rental yield for apartments. On the other hand, houses have a lesser gross rental yield of 1.7% with $595 as the median rent per week. In the last 10 years, the median property price was $518k in 2012 and moved to $621k in 2018. The present median property price for Ivanhoe/Inner North East has significantly increased to $790k. 

Learn more about the growth and rental yields for the surrounding suburbs right by Ivanhoe/Inner North East - Heidelberg, Preston, Ivanhoe East and Eaglemont.

 

If you think Ivanhoe/Inner North East is the ideal location for you, 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.

Published on 3rd of May 2023 by Davina Deluao
Davina Deluao
Davina Deluao

Davina graduated from Swinburne University in 2018 with a Bachelor of Arts, majoring in Journalism. Through travelling and studying abroad in NYC and LA, her interests in property and design grew and became a strong pursuit. Davina has been writing for iBuildNew Group since 2019.

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