Project Sub Urban
Family friendly and leafy layout – Investing in Essendon
Google Earth Screenshot, 2018-03-13 at 1.14.00 pm
Jeff Grochowski from Accrue Real Estate discusses the lifestyle and property investment potential of Essendon.
North-west of Melbourne city, Essendon is only 12 km from the CBD. Its 18,852 residents are predominately Australian born (over 70%) making the suburb less culturally diverse than some of its neighbours.
The suburb is well-serviced by public transport. On the Craigieburn rail line, there are three stations, Essendon, Glenbervie & Strathmore. The Number 59 tram travels along Mount Alexander Road and Keilor road on its way to the city. There are also several bus services from Essendon railway station running through the suburb.
While Essendon boasts leafy streets and riverside walks along the Maribyrnong, it was once predominately known for its airport and football team, both of which no longer utilise the suburb as they once did. The airport, now Essendon Fields still operates services to places like King Island & Orange but is better known for being close to the Direct Factory Outlet (DFO) store. The football team, while still seeing Windy Hill, their old home ground in Napier Street as their spiritual home, now use a new high-performance training facility about 10 kms up the road at Melbourne Airport.
In the early part of the 20-century, when compared to the more industrial Flemington, Brunswick and Footscray, Essendon was regarded as the ‘eden’ of the area. Even now, over a hundred years later, maintains a large amount of that period charm. With wide, leafy streets and Victorian and Edwardian architecture, Essendon can look very similar to suburbs located in Melbourne’s ‘more refined’ east.
Essendon is especially family friendly – nearly 50% of its population is comprised of parents with children. Part of this attraction is the close access to good public and private schooling, including some of Melbourne’s most renowned private schools. Penleigh and Essendon Grammar, Lowther Hall and St. Columba’s Catholic College all call Essendon home.
Essendon also offers a life-style to suit independent singles. Bike tracks along the Maribyrnong and Moone Ponds Creek are not far away and offer easy and scenic rides. Close to DFO, Essendon also offers strip shopping along Napier Street and Mount Alexander Road.
With a median price for units still under $500,000*, Essendon represents a great place for investment. With its attraction to families, a two-bedroom unit could represent a good investment, but the suburb still offers a life-style for younger singles giving more investment options. Rental demand continues to grow in the area.
The perfect suburb to experience the good life, Essendon could be the place for your next investment.
Contact Accrue Real Estate to learn more about Essendon and other Melbourne property investment opportunities.