Since the dawn of time, buying and selling goods at market has epitomised a thriving community, and we’re spoiled for choice for the freshest foods, handmade arts, crafts and clothing.
- including Mexican Treat Yo Self, the Currywurst Company, Urban Wholefoods and Little Zetta - parked next to Batman train station and Upfield bike path, will tantalise every tastebud.
The queen of all markets, literally, is the Queen Victoria Market in North Melbourne. An institution that opens on Tuesdays and from Thursday to Sunday, it has artisan-made produce, aisle upon aisle of retail items, souvenirs, eateries, buskers and cooking demonstrations that are as much a hit with locals as with interstate and international visitors.
Rose St Artists’ Market in Fitzroy is the proudly handmade providore of art and design wares - open from 11am-5pm on weekends. Mingle amid the cool crew to secure original artworks, costume jewellery, curios and one-off fashion items. A new eatery and funky rooftop bar make the art of people-watching even more appealing.
Continuing the fresh-is-best approach is the Carlton Farmers Market, held on the first and third Saturdays of every month at Carlton Primary School. Ethically sourced meats, cheeses, fruits, vegetables and other edible specialties are on offer from 35 stallholders. There are also tempting breakfast options to try, and picnic items to sample later in the nearby Carlton Gardens.
Abbotsford Makers Market, including the popular Skirt and Shirt Market, is held on the third Sunday of every month at the historic Abbotsford Convent. The market is a non-profit association offering the best in handmade fashion, fresh fare and artisan wares.
Batman Market is a vibrant food and craft market held every weekend in Gaffney St, Coburg. New-and-used items and artisan wares sit alongside the freshest food and excellent coffee spots. Ten of the best food trucks
And peruse cool art and crafts while enjoying a laidback feel at Blender Lane Market in Franklin St. There is an increasing range of delicious food to sample, purchase original gifts and try your hand at creative workshops, every Wednesday in the city.
Market wrap For years we’ve been advocating that landlords invest in their investment to be best placed to reap the rewards. And, now more than ever, the philosophy of being proactive rings true. Just as your car is unlikely to perform at its best if it’s not serviced regularly, your asset cannot be expected to excel year after year if attention is not paid to its upkeep.
steady, with the prospect of greater growth in the September quarter should consumer confidence grow in the months ahead. But anyone who expects spectacular results is likely to be sorely disappointed. The net result is greater accountability for all, but by investing the time with various projects you can be guaranteed of staying one step ahead.
In an ever-competitive environment in which tenants are pursuing more bang for their buck, it’s amazing the difference that a coat of paint or a tidy garden can have in transforming the appearance of your property. As always, the must-have requests from tenants include built-in robes, polished floorboards, efficient heating and cooling, dishwasher and car spaces. Rest assured, any of these works require only a minimal financial outlay, and many are tax-deductible, but it’s a shrewd move as any small changes can make a big difference to tenants.
Heeding our own advice, Woodards is also being proactive. Mindful of always searching for ways to improve, the property management division is constantly refining its practices to provide even better service. Among the changes, Samantha Welsh and Sarah Hutchings are using their vast experience to enhance our team’s training and support as Team Leaders.
Demand in January exceeded that of 12 months earlier, with interest strong across all sectors of the market. As apartments are increasingly constructed across the inner north, the desire for single-front Victorian terraces – traditionally two bedrooms and one bathroom – continue to attract professional couples, many of whom work in Parkville’s renowned knowledge and medical precinct. And larger dwellings popular in the share-house market have brought Coburg and Brunswick under the microscope, with tertiary students particularly active in driving this trend. Mirroring the sales market, the ripple effect of renters being priced out of Carlton and Carlton North has meant demand is strong for similar but more affordable rental properties in Brunswick. Overall, short-term forecasts are for yields to remain
And Nicole Stojcevski, who brings her VCAT expertise into the mix, and Brenton Reginato, who has moved from a boutique NSW agency, have strengthened our accomplished team of property managers, while Jessica Ferraro will take on an administrative role. Together with our impending move to Nicholson St later this year, it all means the outlook for 2015 remains positive on all fronts. If you have any questions about this report or your local area, please feel free to call us on 9347 1755. Yours in property,
Jason Sharpe
Municipality Overview
Oct-Dec 2014
City of Melbourne The Metropolitan Melbourne median price increased 5.3% in the December quarter 2014. House prices in the City of Melbourne also trended upwards, increasing 3.0% to $1.21M over the same period. The highest increase was in Princes Hill where the median house price increased by 17.4% to $1.16M. The City of Melbourne has some of the highest rental returns in the state. The highest rental growth in units was for one bedroom apartments in Southbank which grew 15% at $600 per week in the 12 months ending December 2014. The highest rental growth for houses was for two bedroom houses in Carlton which increased by 10.7% to $550 per week. On the other hand, the vacancy rate in the inner city suburbs decreased to 3.3% in December 2014, compared to 3.4% in the previous year. As demand in the broader Melbourne market continues to moderate, some suburbs continue to attract demand. As the central municipality of the state, there will continue to be demand for housing in the area from investors, developers, and owner-occupiers. Some suburbs such as Princes Hill and North Melbourne have consistently outperformed the market and are well placed for further growth.
City of Moreland The overall median house price in the City of Moreland decreased slightly over the December quarter compared to the general market. However there were some suburbs that grew strongly, particularly Brunswick West, which was among one of the fastest growing suburbs in Melbourne, increasing by 10.1% over the quarter to $853,000. The highest rental growth over the quarter was in Coburg North with the median rent for 3-bedroom houses increasing by 6.8% to $450 per week. The vacancy rate in the inner city suburbs also has decreased to 3.3% in December 2014 from 3.4% in the previous year. About 60% of homes being sold were auctioned in the City of Moreland in the 12 months ending December 2014. The average clearance rate over this period was 73% with some suburbs having much higher clearance rates. Brunswick East had the highest clearance rate of 81% followed by Coburg at 78%. Brunswick also had the fastest selling times with the median number days on market of 30 days in the 12 months ending December 2014. This was six days faster than a year ago and is also below the metropolitan median of 39 days. Homes in Coburg North and Brunswick West also reported relatively short times on market of 31 and 34 days respectively.
City of Yarra House prices in the City of Yarra increased strongly with the median house price in the City of Yarra increasing 3.5% to $1.04M. The highest increase within the municipality was in Clifton Hill where the median house price increased by 18.4% to $1.14M. In the 12 months ending December 2014, of all apartments in the City of Yarra, median rents for one-bedroom apartments in Fitzroy grew the most by 12.1% to $450. The fastest rental growth among houses over the year was in Abbotsford where the median rent for two bedroom houses rose by 11.3% to $680 per week. The vacancy rate in the inner city suburbs also decreased to 3.3% in December 2014 from 3.4% in the previous year. About 64% of homes sold in the City of Yarra went to auction in the 12 months ending December 2014. The municipality also recorded a very high clearance rate of 77%. In the private sale market, the fastest selling homes in the municipality were in Richmond. The median number of days on market in Richmond was 28 days in the 12 months ending December 2014. This was much lower than the metropolitan Melbourne median of 39 days. Homes in Abbotsford also sold relatively quickly at 29 days. The City of Yarra is especially attractive to investors and owner occupiers. There are a number of suburbs that continue to perform strongly including Clifton Hill, Richmond and Abbotsford, and are expected to continue to attract demand.
Key statistics
Oct-Dec 2014
Where we choose to live says much about who we are, but the municipalities in the inner north continue to thrive ‌ as the statistics show.
Houses City of Melbourne
Highest sale price: $2,875,000 Lowest sale price: $653,000 Median weekly rent: $590 per week City of Moreland
Highest sale price: $2,300,000 Lowest sale price: $347,500 Median weekly rent: $400 per week City of Yarra
Highest sale price: $3,760,000 Lowest sale price: $630,000 Median weekly rent: $400 per week
134 houses sold
450 houses sold
172 houses sold
Units City of Melbourne
Highest sale price: $2,225,000 Lowest sale price: $162,000 Median weekly rent: $420 per week City of Moreland
Highest sale price: $1,397,500 Lowest sale price: $193,000 Median weekly rent: $340 per week City of Yarra
Highest sale price: $2,511,000 Median weekly rent: $330 per week
Lowest sale price: $133,000
570 units sold
314 units sold
220 units sold
Average time on market City of Melbourne
Houses: 28 days
Units: 30 days
City of Moreland
Houses: 29 days
Units: 31 days
City of Yarra
Houses: 25 days
Units: 26 days
904
houses/units for sale today
432
houses/units for sale today
182
houses/units for sale today
Recent Lets
CARLTON 147/1 Queensberry Street 2
2
1
CARLTON 8 Macarthur Place North 2
1
$600 per week
$490 per week
WINDSOR 7 David Lane
RICHMOND 5/10 Lord Street
3
2
2
3
3
2
$700 per week
$980 per week
NORTH MELBOURNE 23/91 Levison Street
CARLTON 133 Queensberry Street
2
2
1
3
2
$575 per week
$720 per week
FITZROY NORTH 4/14 Brennard Street
BRUNSWICK EAST 26 Methven Street
3
2
3
2
$320 per week
$800 per week
FITZROY 4/70-74 Nicholson Street
BRUNSWICK 48 Blyth Street
1
1
3
2
$450 per week
$850 per week
PRESTON 37 Hotham Street
PRINCESS HILL 104 McIlwrath Street
2
1
1
2
1
$390 per week
$720 per week
CARLTON NORTH 406 Station Street
PARKVILLE 23 Benjamin Street
2
1
1
3
2
1
$520 per week
$875 per week
EAST MELBOURNE 516 Victoria Parade
PARKVILLE 14/92 The Avenue
4
2
$1000 per week
1
2
1
$460 per week
1
Woodards Carlton 393 Rathdowne Street P 9344 1000 woodards.com.au