All About Essendon, Moonee Valley, VIC, 3040

Essendon, located within the City of Moonee Valley in Victoria, boasts a dynamic housing market characterized by its blend of historical charm and modern appeal. The suburb is renowned for its stately period homes and tree-lined streets, often accompanied by well-maintained gardens, which capture the essence of its rich heritage. In recent years, Essendon has seen a steady demand from both investors and homeowners, partly due to its strategic location just a few kilometers northwest of Melbourne's CBD. This proximity allows for easy access to the city's business district while maintaining the tranquility of suburban life. Essendon’s property market offers a variety of options, from spacious family homes and charming older cottages to contemporary townhouses and sleek apartments. Though house prices have generally trended upwards, reflecting the desirability of the area, the diverse property types cater to a range of budgets, making the suburb accessible to many buyers seeking lifestyle and investment opportunities.

Living in Essendon offers a balanced blend of urban convenience and suburban peace. The suburb is well-equipped with amenities, including reputable schools, parks, and recreational facilities, which are attractive to families and professionals alike. Public transport is reliable, with easy access to trams, trains, and buses, making commuting straightforward. The local community is vibrant, with a strong sense of connection, often coming together for local events and activities. Residents enjoy a mix of cafes, restaurants, and boutique shops, contributing to a lively and engaging streetscape. Additionally, the presence of parks such as Queens Park and Moonee Ponds Creek provides opportunities for outdoor activities and family outings. Overall, Essendon offers a well-rounded lifestyle, appealing to those who seek the convenience of city living alongside the charm and comfort of a close-knit community environment.

Essendon Real Estate Market Outlook

Thinking about buying in Essendon? Now could not be a better time, with 13115 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,626,000 with prices in this suburb ranging from $35,000 to $38,451,000. Essendon is located fairly close to the coast at just 5Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Prices are above market average and increase steadily under persistent demand. A more sustainable rate of price growth is anticipated in the short to medium term. High average incomes in Essendon ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Essendon classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Essendon requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.

Instant Property Valuation

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Public Transport

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General Points of Interest

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Nearby Suburbs

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