16 SUBURB PROFILE
SATURDAY OCTOBER 6 2018
SOUTH MORANG
TOP SALE
$1,600,000 72 MERIDIAN DRIVE
MID POINT
$606,000 98 GORDONS RD
BARGAIN
$275,000 19/877 PLENTY RD
MARKET INSIGHTS Median house price Median unit price Median house rent Median unit rent
$630,000 $400,000 $395/WK $335/WK
WHO LIVES HERE? Population
24,060
Av. household
3.1
Median age
House Unit Townhouse Other
34
Av. weekly household income
$1,739
CAPITAL GROWTH 12 Month Growth 5 Year Growth
HOUSES UNITS 14.3% 5.3% 57.5% 21.2%
Urban vibe draws a crowd
G
REAT amenities and new communities are putting South Morang on the map. Major improvements to infrastructure and a growing urban feel are at the heart of the northeast suburb’s popularity, Village Building Co state manager Tom Maidment said. “It’s that urban living near shops, cafe culture, being able to walk and use public transport to get around — people are excited about that,” he said. The extension of the South Morang train line and an $80 million
redevelopment of major shopping hub Westfield Plenty Valley were among the works this year alone. While there was “massive” growth further to the city’s north, South Morang, 25km from the CBD, had the benefit of established neighbourhoods and amenities, Mr Maidment said. New housing types were also adding to the picture, as the suburb continued to transform. “The town centre has changed a lot, a number of apartment projects have gone up and there’s acceptance of median and higher density living if
the amenity is there — and it certainly is,” Mr Maidment said. Having an RMIT university campus nearby was another drawcard for the suburb, and more infrastructure projects were in the pipeline, he added. South Morang’s median house price reached $630,000 as of June, up 48 per cent across the previous three years, CoreLogic data shows. Mr Maidment said as the city’s population growth and liveability underpinned price growth, affordable housing options were in demand. Village Building Co’s new
community, Trilogy Place, would bring more housing choice to the area with contemporary townhouses starting at $450,000 for two-bedroom homes and $572,00 for three-bedroom. Local homeowners had already shown interest, while first-home buyers were also set to be a key demographic. “A lot of the demand has been from local purchasers within a 5km radius,” Mr Maidment said. Trilogy Place is walking distance from amenities. Designed by awardwinning architects, Rothelowman, the homes have parkland views.
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