Area a real high point

Herald Sun - Property - - SUBURB PROFILE - JOR­DAN MAR­SHALL

YOUNG fam­i­lies look­ing for a com­bi­na­tion of life­style and lo­ca­tion are flock­ing to Maribyrnong.

Lo­cated just 8km from the CBD, the beau­ti­ful vis­tas and park­land along the Maribyrnong River, High­point shop­ping cen­tre (right) and the inner-city cafe cul­ture of the sub­urb are draw­ing buy­ers to Maribyrnong.

“Younger fam­i­lies can walk the parks, walk the river,” said Stock­dale & Leggo fran­chise and busi­ness de­vel­op­ment man­ager Stu­art Robin­son.

“They are will­ing to pay for a house with easy ac­cess to the ameni­ties and in­fra­struc­ture on of­fer and that’s what is driv­ing the mar­ket.”

The tra­di­tion­ally work­ing­class sub­urb has gone through a gen­tri­fi­ca­tion over the past decade, which has been re­flected in price growth.

The me­dian house price has risen by 12 per cent in the past 12 months, while it has more than dou­bled in the past 10 years, grow­ing from $372,750 in 2006 to $840,000 in the past year, ac­cord­ing to CoreLogic RP Data.

While growth in the unit mar­ket has been less sub­stan­tial, it has also been solid with the me­dian price in­creas­ing by 4.3 per cent, from $430,000 to $448,550, in the past year.

Buy­ers from sur­round­ing ar­eas are mov­ing into the sub­urb to stay lo­cal in an inner city lo­ca­tion.

“Peo­ple who grew up in places like Essendon are look­ing for their first fam­ily homes in a lo­cal area close to the city. That’s Maribyrnong,” Mr Robin­son said.

“But an in­creas­ing num­ber of buy­ers from the op­po­site side of the city are mak­ing the move from the east to the west as they are recog­nis­ing what the area has to of­fer.”

Mr Robin­son said the sub­urb also ap­pealed to buy­ers from the eastern sub­urbs as it was com­par­a­tively af­ford­able and of­fered good value for money.

“The ameni­ties, prop­erty and in­fra­struc­ture that is on of­fer in Maribyrnong is a pretty amaz­ing com­bi­na­tion,” Mr Robin­son said.

“It’s not sur­pris­ing it’s a sub­urb a lot of young buy­ers want to raise their fam­i­lies in.”

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