Melbourne's most popular suburbs for investors in August
The number of new loan commitments amongst investors has continued to see steady growth, up 1.8% in July, according to the ABS.
While not as exaggerated as earlier this year, ABS data shows that new loan commitments by investors has risen 98.7% for the year. After a rise of 0.7% in June, the level is the highest seen since the all-time high in April 2015.
This can be attributed in part to interest rates remaining at or near record lows, while the skyrocketing growth towards the start of 2021 was due in part largely to a number of government initiatives including the HomeBuilder Grant.
With investor loan commitments chugging along solidly, Urban has highlighted the developments in the suburbs most popular amongst investors for the month of August.
Geelong
Geelong has remained consistently popular among Investors, making an appearance on many of Urban's top investors suburb lists with a particularly strong showing this month. The suburb had more hits than second and third place, Footscray and Moonee Ponds put together.
For good reason, as one of Urban's most popular projects, Ryrie Home, find's itself in Geelong. Ryrie Home sits in the heart of the regional city’s art precinct, pitching its proximity to Melbourne and cheaper housing prices as a drawcard for investors and owner-occupiers alike.
The project was listed as Urban's most popular investor project for Q1 2021 thanks to Geelong’s low vacancy rate of 1.7 per cent and the 10 per cent per annum growth in apartments over the last three years.
And the transport improvements in Geelong, including the $100 million fast rail and the $6.7 billion Westgate Tunnel which will shave 20 minutes off any commute, has investors keen on securing a property in the growing area.
Read more: Why Ryrie Home has been so popular with investors.
Moonee Ponds
Investors have been attracted to Moonee Ponds over August, with the two headline projects Thomas Street and Feehan Row proving the most popular.
Thomas Street is the first apartment building within the $2 billion Moonee Valley Park master-plan, currently underway by property developer Hamton and financier HostPlus.
Rising six storeys, Thomas Street was designed by the award-winning Rothelowman, who partnered with Hamton for much of the residential work across the project, including Feehan Row, the terrace and house development in the master-plan’s first release.
Being a part of the Moonee Valley Park has residents living alongside the crowning jewel of the master-plan, the horse-racing club now known as The Valley. With a new grandstand, the Moonee Valley Racing Club aims to be the premier night racing venue and is already home to major races like the Cox Plate.
Southbank
Southbank's Melbourne Square is another development consistently tracking with as one of Urban's most popular among both investors and first home buyers.
OSK Property are the group behind the boutique collection of homes at Melbourne Square.
Featuring four distinct themes, it has been architecturally designed by Cox Architecture, with interiors by designer Sue Carr, creating open-plan spaces which make the most of the spectacular city views on offer.
Each bedroom boasts sweeping views via floor-to-ceiling glazing, plus the master suites offer a panoramic city vista.
Set for completion in mid 2021, amenities include a full-line Woolworths and other shops as well as resort-style facilities including pools, sauna, spa, gymnasium and a yoga room.
Ivanhoe
Investors have shown interest in Blue Earth Group's latest apartment development, Ivanhoe Gardens, in Melbourne's north-east, which will offer over 2,000 sqm of dedicated amenity space.
The development, built across two stages by leading builder Hamilton Marino to designs by CHT Architects, has 13 different entertainment zones.
Ivanhoe Gardens is situated just off Bell Street, Ivanhoe’s main arterial road. It is near a significant employment hub, with Victoria’s largest medical precinct and La Trobe University within a 4-kilometre radius.
The development is made up of two buildings, Bloomfield, which is stage one of the development, and Linden & Arbour, which is stage two.