Project Sub Urban
Where the old and new meet: Investing in Brunswick
Jeff Grochowski from Accrue Real Estate discusses the lifestyle and property investment potential of Brunswick.
Brunswick is inner-city suburb, it is only 4 kilometres north of Melbourne's central business district, making it an easy pedal to the city. At last Census, Brunswick had a population of 24,473.
Bordered by Parkville and Coburg, and close to fashionable Carlton and Princes Hill, Brunswick offers investors more value than those more expensive suburbs. Brunswick has seen a boom in development over the past five years, with new dwellings being built a rapid pace. Large developments of 50 to 120 apartments have occurred but there is also room for smaller boutique blocks as well.
A key thing you need to know about Brunswick, is that it is one of the best-served suburbs for public transport in Melbourne, with four tram routes and one train line. The tram routes are on Nicholson St, Lygon Street, Sydney Road & Melville Road and all go directly to the CBD. Three stations service the community, Jewell, Brunswick and Anstey.
Brunswick is also popular for its proximity to the University of Melbourne and RMIT University, and it has a large student rental market. The public transport system supports this student life style, as does the diversity of cultures mixing in an incredibly fashionable café, restaurant and bar scene. Brunswick is a place young people want to be seen.
Sydney Road runs through the middle of the suburb. This busy thoroughfare has the distinction of being the longest shopping strip in the Southern hemisphere. A walk along Sydney Road is a delight of multicultural sights and sounds. There is a large range of cafés and restaurants, as well as boutiques and artisan giftware. As well, some of Australia’s best designers have retail outlets on Sydney Road, making Brunswick the wedding dress capital of Melbourne!
With a median price for units still under $500,000*, Brunswick represents a great place for investment. Over 50% of the population are aged 20 to 39, a group consisting of independent youth and those who are beginning to build a family, meaning a high rental demand and diversity of tenant.
With a lively culture and great mix of new and old, Brunswick could be the place for your next investment.
Contact Accrue Real Estate to learn more about Pascoe Vale and other Melbourne property investment opportunities.