Real Estate boom for Brimbank
It’s the real estate secret Brimbank locals have known for years … now all Melbourne is sitting up and taking notice.
Four Brimbank locales have been named by the Real Estate Institute of Victoria in the top 10 suburbs to watch this year.
St Albans, Ardeer, Kings Park and Delahey were all on the list, with institute chief executive Geoff White highlighting both the growth and affordability of these suburbs.
“[St Albans] offers affordability, given its proximity to the city, and has recorded significant growth in the past 12 months,” Mr White said. “[Ardeer] offers affordable buying within the city’s middle suburbs and has seen price growth of more than 20 per cent this year.”
A strong auctions market had a clearance rate of 89 per cent for the year to September, he said, while nearby suburbs, including Sunshine, have experienced significant growth, which is likely to impact prices in Ardeer.
Kings Park and Delahey experienced annual growth of 14.9 per cent and 20.3 per cent respectively, while also having an increase in auction sales and a strong private sales market throughout 2016.
Brimbank real estate agents, including Mohammed Safatli from Calder Real Estate, said a shortage of properties combined with already established neighbourhoods made Brimbank attractive to buyers.
“A lack of supply brings high demand, and with low interest rates and established amenities, like schools and shops, it makes the area very attractive,” Mr Safatli said. “We’re finding a lot of investors in the market place … trends definitely point to continued growth.”
By Ewan McRae of the Star Weekly