Our 2020 Melbourne property price prediction is 8 to 10% annual growth. We also see strong growth in Sydney and solid growth in Canberra and Brisbane. Richard Wakelin explains why.
Abbotsford investing. Go carefully. A precinct of Collingwood
Abbotsford is one of those rare suburbs that perfectly mix the hustle and bustle of city life with the trendiness of inner city living while still staying true to its history.
A local landmark, Abbotsford Convent, is ingrained in the history of the suburb. The largest multi-arts precinct in Australia, it is host to studios, galleries, open cinemas, great landscape, yoga classes, an array of festivals, a monthly market and much more. The Convent, adjoining the Yarra River, definitely meets an array of Abbotsford residents’ and visitors’ needs. Other landmarks in the suburb include the Carlton and United Brewery, the Skipping Girl Vinegar Sign and the Victoria Park Football Stadium.
Collingwood’s Children Farm, also located in Abbotsford, provides families with a great day trip where they can feed animals and wander around the scenic location on the bank of the Yarra River. It is also home to a once a month Farmer’s market, supposedly the first farmer’s market in Melbourne when it started in 2002. The Yarra River on the eastern side of the suburb provides good walking and cycling tracks. One of the walking trails will take you to Dight Falls and adjoins prestigious Studley Park in Kew.
The area is home to some great cafes, but apart from Victoria Street the suburb is not as well serviced by shopping strips in comparison to its surrounding precincts. However, recent modern developments along Nicholson Street – with ground floor retail shopfronts – are providing further opportunities and slowly improving the strip.
Abbotsford is close to the city with easy access available through public transport. The suburb has two train stations within its boundaries, Collingwood and Victoria Park as well as bus services on Johnston and Hoddle Streets and trams on Victoria Street.
Abbotsford investing potential comes from single fronted cottages and terrace houses. Home to many Victorian and Edwardian era houses, the area is ideal for investors seeking houses rather than apartments. But, be warned, the area also has many new apartment developments that won’t make safe investments.
Talk to Wakelin Property Advisory about investing safely in Abbotsford.