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2 T H E J E L L I S C R A I G R E P O R T
Inner North
The demand for property within Melbourne’s inner northern
suburbs is driven by:
— The need for medium density housing as the local population grows
— Historic low interest rates enabling buyers to access more
money, rebalancing the proportion of owner-occupiers within
the market
— The growing interest of young professionals who wish to rent or
buy homes closer to education, entertainment and employment
prospects
— The desire for detached and semi-detached inner city dwellings
for families who aspire to live close to high quality education,
transportation routes and residential communities
Melbourne’s inner north is known for its culturally rich
community, eclectic mix of residential housing and abundance
of lifestyle options. Proximity to high quality education, inner
city employment, entertainment and transportation routes is
particularly sought after by home owners and those looking
to invest.
Buyer interest extends across the inner north’s market, with
particular call for:
— Established and newly built apartments, townhouses and
terraces, with a particular desire for inner city warehouse
conversions
— Single and double-fronted period homes within walking distance
to schools, transportation links and close proximity to the city
— Prestige homes with historical or architectural significance
— Market entry opportunity for first home buyers
Welcome to the Jellis Craig Report. This report is designed to provide an insight into the key economic, demographic and sociocultural factors that currently affect the Melbourne property market, particularly for suburbs within Melbourne’s inner north.
This year’s report has defined the top five factors as:
1. The global liveability of Melbourne, which
continues to drive interest from abroad
2. Australia’s economic transition to a consumption
based open market experiencing slow growth
3. Record low cash rates and rising household
debt, which has led to tighter lending conditions
4. Changes to Australia’s foreign investment rules
and regulations
5. New developments that continue to
evolve in our city
As the Melbourne property market adapts to record low cash rates, new foreign investment regulations and revised lending conditions, Melbourne’s inner north has experienced a shift in the balance of owner-occupier and investor activity.
The property market in the inner northern suburbs will remain an attractive option for local and international buyers, however the changing environment has moderated price growth to a more sustainable level.
I N N E R N O R T H 3
Demand for residential property will continue throughout the Inner North.
1Global liveability of Melbourne
In 2015 Melbourne was named the world’s
most liveable city in The Economist’s Global
Liveability Ranking, for a fifth consecutive
year. The city scored 97.5 out of 100,
based on economic stability, access to
healthcare, cultural diversity, environmental
wellbeing, quality of education and
infrastructure.
Melbourne’s diverse population is estimated
at 4.35 million people, forecast to reach
8 million in 2051. Melbourne residents
come from 180 countries, speak over 233
languages and belong to more than 140
cultures. Immigration from China and India
accounted for 32% of overall population
growth in 2015, making Mandarin the
second most commonly spoken language
in Melbourne.
As overseas migration and foreign
investment interest increases, the real
estate sector is the largest foreign
investment type in Australia today. Foreign
investment approvals for Australian
residential real estate rose 75% to $61
billion in 2015, 36% of which was
accounted for by mainland China.
L O O K I N G A H E A D
As globalisation continues to strengthen the economic and financial integration of countries around the world, Melbourne has become
increasingly attractive for the investment and lifestyle opportunities offered. The world’s most global cities are interconnected, and serve
as local hubs with access to finance, production, trade and distribution of goods and services. The ability to meet these international demands
has become a crucial element that continues to drive population growth and foreign investment in Melbourne’s property market.
97.5100
Innovations in technology and the internet
have made it easier to research, locate and
transact international property, which is
expected to continue throughout 2016
as the Australian dollar remains low and
Melbourne continues to globalise.
International buyers will continue to seek
proximity to elite government and private
schools and drive demand for different
housing types, including apartments for
tertiary students, townhouses for one-child
families and larger homes for extended
families.
China will remain a dominant source of
investment, but interest from other Asian
countries such as India and Indonesia is
expected to increase.
Source: City of Melbourne, FIRB Annual Report 2014-15
4 T H E J E L L I S C R A I G R E P O R T
Australia’s mixed market economy is largely
based on trade, manufacturing, services
and finance. In 2016, moderating global
growth and a slowing Chinese economy
is prompting further transition of the
Australian economy.
Latest forecasts from the Reserve Bank of
Australia (RBA) show economic growth is
expected to remain under 2.5% in 2016,
before a recovery of up to 3% over the next
two years.
This cautious outlook reflects the cooling
of the Chinese economy and has slowed
the demand for Australian exports, such as
primary resources and agricultural produce.
International investment in Australia is now
a significant contributor to the economy
and the outlook into 2017 remains
optimistic. The lower Australian dollar
combined with the sustained low interest
rate environment provides exceptional
value for investors, particularly those
attracted to commercial and residential
property markets.
O V E R S E A S I N V E S T M E N T A N D E C O N O M I C G R O W T H
In Australia, the real estate sector received
the largest portion of foreign investment,
valued at $96.9 billion across residential
and commercial real estate in financial year
2014-15. Residential real estate investment
approvals totalled $60.7 billion, 75% more
than last year.
China was the largest investor in Australian
commercial and residential real estate,
followed by the United States, Singapore,
Malaysia and Korea.
Source: FIRB, Annual Report 2014-15.
2Slowing Australian economy and its
potential impact on real estate
C H I N A$24.36 billion
K O R E A $2.5 billion
M A L A Y S I A $3.46 billion
S I N G A P O R E$3.86 billion
U S A$7.1 billion
M E L B O U R N E M E D I A N
H O U S E P R I C E : $713,000;
8.3% annual increase.
M E L B O U R N E M E D I A N
U N I T P R I C E : $525,000;
4.2% annual increase.
Source: REIV March 2016 Quarter
I N N E R N O R T H 5
Stable economy
Freehold ownership availability
Sustained low-interest money market
Attractive business opportunities
High-quality lifestyle & clean environment
Proximity to Asia
High-quality & accessible educational
facilities
Relative value for money
D R I V E R S F O R I N T E R N A T I O N A L I N T E R E S TI N T E R N A T I O N A L I N T E R E S T I N M E L B O U R N E P R O P E R T Y I S B E I N G D R I V E N B Y
The swelling population of Victoria is driving the demand for housing, retail, education and the creation of new employment opportunities, particularly in the service and construction industries. As a result, the Victorian economy is less dependent on primary resources, than some other Australian states. Melbourne’s property market continues to attract the attention of Australian and international investors seeking both investment and lifestyle opportunities.
C O N T I N U E D I N T E R E S T I N M E L B O U R N E
L O O K I N G A H E A D
The residential property market is moderating
to a more sustainable level of growth,
following a period of rapid price growth
in many areas. The ongoing demand for
residential property and the low cost of
finance, will see buyer confidence remain
positive throughout 2016.
While there is some debate about the supply
and demand balance for new apartments in
some areas of Melbourne, the demand for
well-located, high-quality residential property
will remain strong.
Melbourne will remain an attractive market
over the next 12 months, with buyers
benefiting from a slight shift away from the
strong ‘seller’s market’ of 2015. Interest
from international investors may moderate
as tighter Foreign Investment Review Board
(FIRB) controls come into play, however
Melbourne will remain highly attractive
to overseas buyers.
C O N C E N T R A T I O N O F O V E R S E A S I N T E R E S TI N M E L B O U R N E CBD
MOUNTWAVERLEY
BLACKBURN
BAYSIDE
ARMADALE
HAWTHORNBALWYN
DONCASTER
Source: Australian Government Department of Employment
31.2%
18.6%
10.0%
13.7%
19.9%
2.7%3.5%
0.4%
Agriculture, foresty & fishing
Finance & insurance
Manufacturing
Mineral exploration & developement
Services
Tourism
Residential real estate
Commercial real estate
Source: FIRB, Annual Report 2014-15.
F O R E I G N I N V E S T M E N T A P P R O V A L S B Y I N D U S T R Y S E C T O R 2 0 1 4 - 1 5
6 T H E J E L L I S C R A I G R E P O R T
B A N K S T A N D A R D V A R I A B L E R A T E ( % )
Melbourne’s price growth has been
steadily increasing over the past three
decades. The median metropolitan house
price in 1985 was $80,200, and is now
$713,000.
M E L B O U R N E M E D I A N H O U S E P R I C E ( $ , 0 0 0 )
18
16
14
12
10
8
6
4
2
1985 1990 1995 2000 2005 2010 2015
800
700
600
500
400
300
200
100
Source: RBA 2015, AMP NATSEM Income and Wealth Report December 2015
3Household debt to income ratio
continues to rise
1985 1990 1995 2000 2005 2010 2015
Declining interest rates, low unemployment
and a strong economy have driven Australians
to take on more debt. The official RBA cash
rate dropped to 1.75% in May 2016.
For most Australians, the mortgage on their
home is the largest debt they will have in
their lifetime, and mortgage interest rates
have fallen from a peak of 16.5% in 1989
to the current level of 5-6%.
Australian households have more debt
compared to the size of the country’s
economy than any other in the world.
The ratio of household debt to disposable
income has almost tripled since 1988, from
64% to 185% in December 2015, reflecting
an annual growth rate of 5.3%, well above
the income growth rate of 1.3%.
D E B T I N C O M E R A T I O ( % )
1985 1990 1995 2000 2005 2010 2015
180
160
140
120
100
80
60
Source: RBA 2015, AMP NATSEM Income and Wealth Report December 2015 (note: dotted line denotes estimated debt to income ratio)
Source: REIV 2016
I N N E R N O R T H 7
D E B T L E V E L S I N I N N E R N O R T H
Households with medium to high income
make up the largest proportion of the
population within the inner northern
suburbs.
Parents and homebuilders comprise 22%
of all households, followed by the young
workforce at 20%, and older workforce and
empty nesters at 19% which largely reflects
the proportion of home ownership versus
rental dwellings in the area.
32%I N N E R N O R T H
RENTINGOWNED WITH
MORTGAGE
Source: ABS Census 2011, .iD Consulting Pty Ltd 2015
27%
OWNED OUTRIGHT
34%
L O A N S T O I N V E S T O R S
5.1% L O A N S T O O W N E R - O C C U P I E R S
8.3%
H O U S I N G C R E D I T G R O W T H
A N N U A L G R O W T H
A N N U A L G R O W T H
Source: ABS Housing Finance Australia, March 2016, RBA
L O O K I N G A H E A D
From late-2013 to mid-2015, investors
accounted for about 40% of all loan
approvals in Australia, however investor
activity has subsided significantly in 2016.
Mortgage approvals to owner-occupiers
jumped 13.2% to $13.8 billion this year,
which excludes refinancing existing
dwellings. The changing nature of lending
suggests an emerging shift to a more
balanced market with increased owner-
occupier activity.
Australian banks are implementing tighter
lending conditions in response to the
Australian Prudential Regulation Authority
(APRA) review, which imposes stricter loan
to value ratios and criteria for local and
international investors. As a result it is
expected price growth will ease for some
parts of Melbourne’s property market over
the next 12 months.
The current low interest rate environment
is expected to continue throughout 2016,
stimulating the property market with the
low cost of borrowing money to finance the
purchase of dream homes and investment
properties.
However, it is prudent for both investors and
home buyers to take a longer term view, by
planning for rate rises in future years. Every
0.25% increase in interest rates would see
a significant impact on the disposable
income of Australian households.
8 T H E J E L L I S C R A I G R E P O R T
C H I N A’ S R E C E N T R E S T R I C T I O N S F O R F O R E I G N I N V E S T O R S
4Changes to foreign investment
rules and regulations
While Australia has become the second
most popular market for Chinese property
investors after the US, China has recently
introduced new international investment
controls in response to the current
slowdown in economic growth. Designed
to decelerate the level of capital outflow
from the Chinese economy, those wanting
to invest in Australia now need to comply
with new restrictions.
International investment into the Australian housing market has changed the way residential real estate is perceived within the global context.
Demand for Australian housing is driven by the sustained low-interest money market and competitive currency, which has made local real estate
prices relatively cheaper to international investors than to local buyers.
The desire for international investment by a growing middle class in China, Singapore and Malaysia has strengthened the level of capital
investment into Australia, prompting a review of Australia’s foreign investment framework.
The latest annual report of Australia’s FIRB
shows Chinese were the largest investors in
2015, with approved real estate investment
worth $24 billion. In response to the falling
yuan and prevention of capital outflow, the
Chinese government has limited individuals
to moving the equivalent of US$50,000 out
of the country each year.
C H A N G E S T O F O R E I G N I N V E S T M E N T F R A M E W O R K
The Australian Government has also
recently introduced changes to Australia’s
foreign investment framework to restore
the enforcement and compliance of laws
that govern foreign investment into local
real estate.
¥¥
¥
M E L B O U R N EV I C T O R I A
Source: FIRB 2016
I N N E R N O R T H 9
L O O K I N G A H E A D
Source: FIRB Annual Report 2014-15.
As Melbourne’s property market moderates
and the Chinese economy slows, international
investment in Australia is likely to decelerate
as offshore buyers become more cautious of
increased regulations and reforms.
APPLICATION FEES , STRICTER PENALTIES AND INCREASED REGUL ATION
Current laws encourage foreign investors to
buy homes before they are built, generating
new housing supply. In support of this,
foreign investors are required to apply to
the FIRB prior to expressing an interest to
purchase residential property.
The Australian Taxation Office (ATO) has
also implemented a more thorough review
process to ensure the appropriate fees are
paid before applications are processed.
10% NON-F INAL WITHHOLDING TAX PAYMENT FOR $2M+ PROPERT Y SALES
The Australian government has introduced
a 10% non-final withholding tax, which will
be applied to foreign residents who sell
land, buildings, residential and commercial
property in excess of $2 million. The tax
will come into effect from 1 July 2016,
after which point 10% of a sale price will be
withheld and paid to the ATO.
ADDITIONAL STAMP DUT Y FOR FOREIGN BUYERS TO INCREASE TO 7%
When property is purchased or acquired
in Victoria, land transfer duty, otherwise
known as stamp duty, must be paid.
Foreign investors who purchase or acquire
residential property are currently required
to pay an additional duty of 3%, which will
increase to 7% for purchases made on or
after 1 July 2016.
$
Source: ATO Fact Sheet 2015, FIRB Tax Conditions, State Revenue Office May 2016
$5.41 billion
Approved for new dwellings
$4.71 billion
Approved for existing properties
$0.84 billion
Approved for redevelopment
$1.26 billion
Approved for vacant land
$12.85 billion
Approved for development
FOREIGN INVESTMENT APPROVAL FOR VICTORIAN RESIDENTIAL REAL ESTATE
IN FINANCIAL YEAR 2014-15
International investment remains an
important element of the Australian
economy, and it is expected that the lower
Australian dollar in conjunction with the
low cash rate will support commercial and
residential property markets into 2017.
Melbourne will continue to offer attractive
opportunities for investors.
10 T H E J E L L I S C R A I G R E P O R T
59% of Melbourne’s population growth in
the last decade has come from overseas
migration, and 36% of households within
the inner northern suburbs speak a
language other than English, with Italian,
Greek and Arabic comprising the top three.
36%Melbourne’s population is expected to rise
to 8 million by 2051, stimulating significant
urban renewal within the inner city and
middle-ring suburbs.
Investment in Melbourne’s rail system is
a crucial development as living density
increases. Trips on metro trains are
expected to double to 1.5 million every
weekday by 2031.
Housing density across Melbourne’s inner
north is changing in line with current and
forecast population growth.
In the inner suburbs, demand for higher-
density living is adding many new high-rise
apartment blocks to the skyline. In the
middle suburbs, medium-density living is
gradually replacing the traditional quarter-
acre block, particularly near transport and
retail hubs.
In addition, urban renewal is taking place
across many of Melbourne’s inner suburbs,
leading to increased gentrification of
suburbs previously used as industrial or
commercial spaces.
8m
5Our evolving city
O U R C H A N G I N G C I T Y
1.5m
Source: ABS Census 2011, City of Melbourne, iD Consulting Pty Ltd
I N N E R N O R T H 11
L O C A L P R O J E C T S O N T H E H O R I Z O N
Pentridge Coburg village apartments
Plans to develop the former Pentridge
Prison are set to proceed, with 14 new
buildings to cover the 65,000 square metre
site, dedicating approximately 16,900
square metres to parkland. The Pentridge
vision is to create a vibrant, well-designed
urban village complete with housing, retail,
community areas and open public spaces.
The value of building approvals within the
inner north was $1.3 billion in the financial
year to date, and the number of residential
dwellings is expected to increase by an
average of 874 dwellings per year.
Improved community facilities within the
inner north
Works are under way to improve the public
facilities and open space within Northcote,
including the Batman Park Landscape
upgrade, Bill Lawry Oval and Oldis Gardens
plan. As part of these works new park
furniture has been installed, along with
bins, BBQ facilities and a toilet block.
The Preston junction urban master plan will
also see a lively and pedestrian friendly area
for the growing number of people who live,
work and visit the local area.
Inner North fast facts
11,000 residents walk or ride
a bike to work.
One-in-three people living in the
inner northern suburbs is Gen Y
(aged 21 to 35).
Brunswick East, Moonee Ponds
and Preston West are forecast
for the greatest increase in
residential developments over
the next 10 years.
Source: ABS Census 2011,
.iD Consulting Pty Ltd
Source: Urban Melbourne, City of Moreland Source: City of Darebin
Gen Y
L O O K I N G A H E A D
There will be an increased desire by
residents to access local services and
amenities by walking or cycling, rather than
the ‘highway life,’ which requires a strong
reliance on cars and parking.
With higher density and less indoor space,
the demand for local amenities, public
recreation space and parkland will increase.
Shared spaces will not only be in the
outdoor public places. New high-density
apartments will increasingly provide shared
recreation spaces, including BBQ areas,
gyms and swimming pools.
Commuters will look to alternate methods
of transport to access their places of
employment, and the demand for shorter
commute times will continue to grow.
12 T H E J E L L I S C R A I G R E P O R T
Inner North snapshot
P O P U L A T I O N G R O W T H F O R E C A S T
2016
137,8892036
262,972CHANGE 2016-36
+90.71%
C I T Y O F M E L B O U R N E ( N O R T H E R N I N N E R C I T Y )
L A N D A R E A37.6 km2
P O P U L A T I O N D E N S I T Y2886 people / km2
T O P F I V E S U B U R B S B Y P R O J E C T E D P O P U L A T I O N C H A N G E 2 0 1 6 - 3 6 ( % )
T O P F I V E S U B U R B S B Y C U R R E N T M E D I A N H O U S E P R I C E ( $ , 0 0 0 , 0 0 0 )
T O P F I V E S U B U R B S F O R P R I C E G R O W T HGrowth by % increase in median price over the past 12 months
Source: REIV March 2015-16
I N N E R N O R T H I N N E R N O R T H
Parkville
$1.62mAlphington
$1.39mPrinces Hill
$1.35mFitzroy
$1.30Carlton
$1.26m
Source: .iD Consulting Pty Ltd, City of Melbourne
Source: .iD Consulting Pty Ltd
Source: .iD Consulting Pty Ltd
P O P U L A T I O N G R O W T H F O R E C A S T
2016
120,8372036
149,311CHANGE 2016-36
+23.56%
C I T Y O F M O O N E E V A L L E Y
L A N D A R E A43.09 km2
P O P U L A T I O N D E N S I T Y2493 people / km2
T O P F I V E S U B U R B S B Y P R O J E C T E D P O P U L A T I O N C H A N G E 2 0 1 6 - 3 6 ( % )
P O P U L A T I O N G R O W T H F O R E C A S T
2016
172,8162036
214,320CHANGE 2016-36
+24.02%
C I T Y O F M O R E L A N D
L A N D A R E A50.94 km2
P O P U L A T I O N D E N S I T Y3724 people / km2
T O P F I V E S U B U R B S B Y P R O J E C T E D P O P U L A T I O N C H A N G E 2 0 1 6 - 3 6 ( % )
CITY OF MOONEE VALLEYCITY OF MELBOURNE
+77.3%
+57.7%
+13.4%
+54.9%
+43.4%
+18.5%
+63.4%
+23%
+18.8
+21.2%
20162036
CITY OF DAREBINCITY OF MORELAND
+21.3%
+24.3%
+27.4%
+55.4%
+17.8%
+61.5%
+56.2%
+21.9%+
+34.6%
20162036
20162036
20162036
CITY OF YARRA
+133.2%
+79.7%
+57.7%
+43.0%
+34.4%0 300,000 600,000
Alphington
Carlton
Brunswick East
North Melbourne
Fairfield
INNER NORTH
+29.3
+27.3%
+24.5%
+18.2%
+17.4%
0 10,000 20,000 30,000
Parkville
Carlton
West Melbourne
Kensington
North Melbourne
0 10,000 20,000 30,000
Coburg North
Brunswick West
Brunswick
Coburg
Brunswick East
0 10,000 20,000
North Richmond
Abbotsford
Collingwood
Cremorne- Burnley
Fairfield- Alphington
0 20,000 40,000 60,000
Reservoir
Northcote
Bundoora - Macleod
Preston
Preston West
201620360 10,000 20,000 30,000
Flemington- Travancore
Niddrie- Essendon West
Essendon- Essendon North
Avondale Heights
Moonee Ponds
+30.2%
CITY OF MOONEE VALLEYCITY OF MELBOURNE
+77.3%
+57.7%
+13.4%
+54.9%
+43.4%
+18.5%
+63.4%
+23%
+18.8
+21.2%
20162036
CITY OF DAREBINCITY OF MORELAND
+21.3%
+24.3%
+27.4%
+55.4%
+17.8%
+61.5%
+56.2%
+21.9%+
+34.6%
20162036
20162036
20162036
CITY OF YARRA
+133.2%
+79.7%
+57.7%
+43.0%
+34.4%0 300,000 600,000
Alphington
Carlton
Brunswick East
North Melbourne
Fairfield
INNER NORTH
+29.3
+27.3%
+24.5%
+18.2%
+17.4%
0 10,000 20,000 30,000
Parkville
Carlton
West Melbourne
Kensington
North Melbourne
0 10,000 20,000 30,000
Coburg North
Brunswick West
Brunswick
Coburg
Brunswick East
0 10,000 20,000
North Richmond
Abbotsford
Collingwood
Cremorne- Burnley
Fairfield- Alphington
0 20,000 40,000 60,000
Reservoir
Northcote
Bundoora - Macleod
Preston
Preston West
201620360 10,000 20,000 30,000
Flemington- Travancore
Niddrie- Essendon West
Essendon- Essendon North
Avondale Heights
Moonee Ponds
+30.2%
CITY OF MOONEE VALLEYCITY OF MELBOURNE
+77.3%
+57.7%
+13.4%
+54.9%
+43.4%
+18.5%
+63.4%
+23%
+18.8
+21.2%
20162036
CITY OF DAREBINCITY OF MORELAND
+21.3%
+24.3%
+27.4%
+55.4%
+17.8%
+61.5%
+56.2%
+21.9%+
+34.6%
20162036
20162036
20162036
CITY OF YARRA
+133.2%
+79.7%
+57.7%
+43.0%
+34.4%0 300,000 600,000
Alphington
Carlton
Brunswick East
North Melbourne
Fairfield
INNER NORTH
+29.3
+27.3%
+24.5%
+18.2%
+17.4%
0 10,000 20,000 30,000
Parkville
Carlton
West Melbourne
Kensington
North Melbourne
0 10,000 20,000 30,000
Coburg North
Brunswick West
Brunswick
Coburg
Brunswick East
0 10,000 20,000
North Richmond
Abbotsford
Collingwood
Cremorne- Burnley
Fairfield- Alphington
0 20,000 40,000 60,000
Reservoir
Northcote
Bundoora - Macleod
Preston
Preston West
201620360 10,000 20,000 30,000
Flemington- Travancore
Niddrie- Essendon West
Essendon- Essendon North
Avondale Heights
Moonee Ponds
+30.2%
$ $ $ $ $
CITY OF MOONEE VALLEYCITY OF MELBOURNE
+77.3%
+57.7%
+13.4%
+54.9%
+43.4%
+18.5%
+63.4%
+23%
+18.8
+21.2%
20162036
CITY OF DAREBINCITY OF MORELAND
+21.3%
+24.3%
+27.4%
+55.4%
+17.8%
+61.5%
+56.2%
+21.9%+
+34.6%
20162036
20162036
20162036
CITY OF YARRA
+133.2%
+79.7%
+57.7%
+43.0%
+34.4%0 300,000 600,000
Alphington
Carlton
Brunswick East
North Melbourne
Fairfield
INNER NORTH
+29.3
+27.3%
+24.5%
+18.2%
+17.4%
0 10,000 20,000 30,000
Parkville
Carlton
West Melbourne
Kensington
North Melbourne
0 10,000 20,000 30,000
Coburg North
Brunswick West
Brunswick
Coburg
Brunswick East
0 10,000 20,000
North Richmond
Abbotsford
Collingwood
Cremorne- Burnley
Fairfield- Alphington
0 20,000 40,000 60,000
Reservoir
Northcote
Bundoora - Macleod
Preston
Preston West
201620360 10,000 20,000 30,000
Flemington- Travancore
Niddrie- Essendon West
Essendon- Essendon North
Avondale Heights
Moonee Ponds
+30.2%
I N N E R N O R T H 13
Source: .iD Consulting Pty Ltd
Source: .iD Consulting Pty Ltd
P O P U L A T I O N M O V E M E N T
Source: .iD Consulting Pty Ltd
P O P U L A T I O N G R O W T H F O R E C A S T
2016
151,5742036
192,142CHANGE 2016-36
+26.76%
C I T Y O F D A R E B I N
L A N D A R E A53.44 km2
P O P U L A T I O N D E N S I T Y2823 people / km2
T O P F I V E S U B U R B S B Y P R O J E C T E D P O P U L A T I O N C H A N G E 2 0 1 6 - 3 6 ( % )
P O P U L A T I O N G R O W T H F O R E C A S T
2016
88,1202036
117,036CHANGE 2016-36
+32.81%
C I T Y O F Y A R R A
L A N D A R E A19.53 km2
P O P U L A T I O N D E N S I T Y4565 people / km2
T O P F I V E S U B U R B S B Y P R O J E C T E D P O P U L A T I O N C H A N G E 2 0 1 6 - 3 6 ( % )
Moonee Valley -
Essendon
Moonee Valley -West
Moreland -North
Moreland -Coburg
Moreland -Brunswick
Maribyrnong
Macedon Ranges
Melton
Brimbank
Wyndham
Hobsons Bay
Barwon
Overseas S.E. Queensland
Yarra
Whittlesea
Darebin
Hume
Melton
Maribyrnong
Wyndham
Moonee Valley
Perth Overseas
Yarra Melbourne
C I T Y O F M O O N E E V A L L E Y C I T Y O F M O R E L A N D
N E T M I G R A T I O Nmovement of persons
125 - 249
250 - 499
500+
dotted line denotes outflow
N E T M I G R A T I O Nmovement of persons
200 - 299
300 - 799
800+
dotted line denotes outflow
+2,500
+500
+4,100
+5,150
+3,400
CITY OF MOONEE VALLEYCITY OF MELBOURNE
+77.3%
+57.7%
+13.4%
+54.9%
+43.4%
+18.5%
+63.4%
+23%
+18.8
+21.2%
20162036
CITY OF DAREBINCITY OF MORELAND
+21.3%
+24.3%
+27.4%
+55.4%
+17.8%
+61.5%
+56.2%
+21.9%+
+34.6%
20162036
20162036
20162036
CITY OF YARRA
+133.2%
+79.7%
+57.7%
+43.0%
+34.4%0 300,000 600,000
Alphington
Carlton
Brunswick East
North Melbourne
Fairfield
INNER NORTH
+29.3
+27.3%
+24.5%
+18.2%
+17.4%
0 10,000 20,000 30,000
Parkville
Carlton
West Melbourne
Kensington
North Melbourne
0 10,000 20,000 30,000
Coburg North
Brunswick West
Brunswick
Coburg
Brunswick East
0 10,000 20,000
North Richmond
Abbotsford
Collingwood
Cremorne- Burnley
Fairfield- Alphington
0 20,000 40,000 60,000
Reservoir
Northcote
Bundoora - Macleod
Preston
Preston West
201620360 10,000 20,000 30,000
Flemington- Travancore
Niddrie- Essendon West
Essendon- Essendon North
Avondale Heights
Moonee Ponds
+30.2%
CITY OF MOONEE VALLEYCITY OF MELBOURNE
+77.3%
+57.7%
+13.4%
+54.9%
+43.4%
+18.5%
+63.4%
+23%
+18.8
+21.2%
20162036
CITY OF DAREBINCITY OF MORELAND
+21.3%
+24.3%
+27.4%
+55.4%
+17.8%
+61.5%
+56.2%
+21.9%+
+34.6%
20162036
20162036
20162036
CITY OF YARRA
+133.2%
+79.7%
+57.7%
+43.0%
+34.4%0 300,000 600,000
Alphington
Carlton
Brunswick East
North Melbourne
Fairfield
INNER NORTH
+29.3
+27.3%
+24.5%
+18.2%
+17.4%
0 10,000 20,000 30,000
Parkville
Carlton
West Melbourne
Kensington
North Melbourne
0 10,000 20,000 30,000
Coburg North
Brunswick West
Brunswick
Coburg
Brunswick East
0 10,000 20,000
North Richmond
Abbotsford
Collingwood
Cremorne- Burnley
Fairfield- Alphington
0 20,000 40,000 60,000
Reservoir
Northcote
Bundoora - Macleod
Preston
Preston West
201620360 10,000 20,000 30,000
Flemington- Travancore
Niddrie- Essendon West
Essendon- Essendon North
Avondale Heights
Moonee Ponds
+30.2%
14 T H E J E L L I S C R A I G R E P O R T
P O P U L A T I O N M O V E M E N T
C I T Y O F Y A R R A
N E T M I G R A T I O Nmovement of persons
150 - 299
300 - 599
600+
dotted line denotes outflow
Yarra
Moreland
Overseas
+6,200
Maribyrnong
Whittlesea
Hobsons Bay
Wyndham
Perth
Brimbank
Darebin
Banyule
ACT
S.E. Queensland
Sydney
Manningham
Monash
Melbourne
Adelaide
-1,100
-1,600
Source: .iD Consulting Pty Ltd
C I T Y O F D A R E B I N
N E T M I G R A T I O Nmovement of persons
125 - 249
250 - 599
600+
dotted line denotes outflow
Mitchell
Banyule
Melton
Hume Whittlesea
Nillumbik
Loddon
Brimbank
Wyndham
Darebin -Northcote
Darebin -Preston
Moreland
Sydney
Boroondara
Stonnington
Port Phillip
Overseas
Melbourne
Yarra
-1,150
+1,100
-3,200
+3,450
+8,350
I N N E R N O R T H 15
E X C E P T I O N A L P R O P E R T Y S A L E S
73 Holmes Road, MOONEE PONDS
39 Wolseley Parade, KENSINGTON
21 Vauxhall Road, NORTHCOTE
8/27-29 Hodgson Street, BRUNSWICK
10 Milverton Street, MOONEE PONDS
11 Byron Street, COLLINGWOOD
21 Mansfield Street, THORNBURY
3 Meaker Avenue BRUNSWICK WEST 105 Shaftsbury Parade, COBURG
36 South Street, ASCOT VALE
11 Tower Avenue, ALPHINGTON
484 Victoria Street, BRUNSWICK WEST
SOLD SOLD SOLD
SOLD SOLD SOLD
SOLD SOLD SOLD
SOLD SOLD SOLD
‘The Report’ has been prepared by Jellis Craig in good faith, as a general guide to the performance and outlook for particular areas of the Melbourne real estate market. The data and information provided in ‘The Report’ is provided by third parties for information purposes only and does not constitute advice or recommendations. It does not intend to predict future performance of particular suburbs, areas, properties or property types. You should consider your personal circumstances and obtain independent professional advice before making
any financial or investment decisions.
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