A very narrow gap between gross rental yields and mortgage interest rates is a buy signal for investors.
Northcote: Hipster haven or investment dream?
The rejuvenation of Northcote over the last two decades has brought in a new crowd and, with it, an increased interest from homebuyers, tenants and investors.
It’s spoilt with great cafes, restaurants and bars. And they’re not just found on the main strip along High Street but scattered through the streets of Northcote. All things considered, it is no surprise that this trendy suburb draws hipsters and families alike. Entertainment highlights of the suburb are the Northcote Social Club, Palace Westgarth and 24 Rooms amongst countless others. And if that isn’t enough, take a walk down the ever-improving retail strip along High Street.
For lovers of the outdoors, Northcote has an assortment of parks and tracks that show off the residents’ appreciation of nature. All Nations Park, Batman Park and Johnson Park offer a relaxing break while the Merri Creek Trail and the Yarra River Trail are great tracks for walking and riding.
There are several primary schools to choose from in Northcote including Wales Street Primary School, Westgate Primary School, Northcote Primary School and St Joseph’s Primary School. High school students have only one school in the area – Northcote High School. Five train stations, two trams and several buses operate throughout Northcote providing access to the CBD and surrounding suburbs.
Northcote is blessed with a good supply of classic architecture on quiet streets. The suburb is ideal for those looking to invest in houses, with its streets predominately filled with brick and timber terrace houses and cottages. There are also some good older-style apartments to be found with prices for a quality one bedroom apartment going for around $450,000 to $500,000 and for two bedroom units in excess of $550,000. However, be careful as some streets have a mixed streetscape that is not suited to investment properties.
It is no wonder that Northcote is a local favourite and a highly prized suburb to both live and invest in. And after years of buying properties in the area, not to mention our on-the-street observations and analysis of thousands of sales over 21 years, Wakelin Property Advisory has a Northcote suburb expertise unmatched by any other buyer’s advocate or buyer’s agent.