Project Sub Urban
Lifestyle by the bay: Investing in Newport
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In an ongoing series of Melbourne suburb profiles, Jeff Grochowski from Accrue Real Estate discusses the lifestyle and property investment potential of Newport.
A major industrial suburb, Newport is only 7 km south-west of Melbourne’s CBD. It is a 15-minute drive from Melbourne passing through the West Gate Freeway.
Well-serviced by public transport, Newport has a bus interchange which allows access to Yarraville, Sunshine and Moonee Ponds. There are also three separate rail services: the Werribee Metro line, the Williamstown Metro line and the Geelong V/Line rail service. Newport can be reached by train in about 20 minutes from the Flinders Station. A large carpark provides plenty of parking for commuters. Whether you are travelling to the city or suburbs, Newport transport services have you covered.
A key factor in Newport’s popularity is the life style options it affords. It has waterfront locations and a large number of recreational spaces. Cyclists have two major trails, The Bay Trail & Federation Trail; these offer picturesque rides along the Yarra. The Westgate Punt, a foot ferry across the Yarra for pedestrians and bicycles, is accessible from the Spotswood Jetty. This runs between Scienceworks and Port Melbourne, travelling under the West Gate Bridge, giving further option for city & suburban access.
Newport boasts twelve playgrounds in and around the suburb. This makes it ideal for families with children of all ages. The Newport foreshore offers not only fishing, but bike- riding, skate-boarding, kayaking and boating. Newport Lakes Park is a haven of bushland that provides a picnic area and walking trails. There is boating access to the Yarra River and Port Phillip Bay from the Warmies Boat Ramp at Greenwich Reserve. Newport has the reputation as one of the best fishing spots in Melbourne.
With the median price for a 1-bedroom unit under $350,000 and 2-bedroom unit under $550,000*, Newport represents a great place for investment. The population has an average age between 20 and 39, a group consisting of those who are beginning to build a family and those with young families, meaning a high rental demand and diversity of tenant.
With access to facilities that support lifestyle and family, and close proximity to the city centre, Newport could be the place for your next investment.
Contact Accrue Real Estate to learn more about Newport and other Melbourne property investment opportunities.