All About Fitzroy, Yarra, VIC, 3065

Fitzroy, located in the City of Yarra, Victoria, is one of Melbourne's most vibrant and sought-after suburbs, known for its eclectic mix of cultural, commercial, and residential spaces. The housing market in Fitzroy is characterized by its charming Victorian terraced houses, converted warehouses, and modern apartments, reflecting the area's rich history and contemporary developments. Demand for properties in Fitzroy generally remains high due to its unique character, proximity to Melbourne's CBD, and the vibrant lifestyle it offers. The suburb is popular among young professionals, artists, and families who are drawn to its dynamic atmosphere and the sense of community. However, the competitive nature of the housing market often translates to high property prices and rents, making it a premium market within the city. Prospective buyers and renters need to be prepared for significant financial investments to secure homes in this desirable locality.

Living in Fitzroy offers residents a mix of bohemian flair and urban convenience, making it an attractive place for those seeking a lively and diverse neighborhood. The suburb is famous for its thriving arts scene, with galleries, street art, and cultural events contributing to its unique identity. Brunswick Street and Gertrude Street are renowned for their eclectic mix of cafes, restaurants, vintage shops, and boutiques, offering a plethora of dining and shopping options. Additionally, Fitzroy's public transport connections make it easy to access other parts of Melbourne, enhancing its appeal for city dwellers. The community vibe is strong, with a blend of locals and newcomers, and a welcoming atmosphere that encourages social interaction. Fitzroy Gardens and various parks provide green spaces for outdoor activities, while local clubs and community centers offer various programs and events. Overall, living in Fitzroy means enjoying a dynamic lifestyle in one of Melbourne's most culturally rich and engaging neighborhoods.

Fitzroy Real Estate Market Outlook

Thinking about buying in Fitzroy? Now could not be a better time, with 10087 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,624,000 with prices in this suburb ranging from $226,000 to $10,135,000. Fitzroy is located fairly close to the coast at just 2Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Consistent high demand relative to supply is a key feature in Fitzroy driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Fitzroy 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 Fitzroy 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 Fitzroy 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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