August 15, 2017
Rental market spotlight: Camberwell
Gorgeous period homes and a quiet serenity underpin Camberwell’s established reputation as one of Melbourne's most desirable locations.
Developed during the 19th century, the family-oriented estates within Camberwell's prestigious Prospect Hill precinct - including Riversdale Estate, Gladstone Park Estate and Kasuka Estate - showcase some the city's finest Victorian and Federation era properties.
Why tenants love Camberwell
Generous parklands, reserves and numerous children's playgrounds (including local favourites Frog Hollow Reserve, Riversdale Park and the Bowen Gardens) are complemented by a bustling local business district to create a vibrant village life that affords Camberwell residents an ideal combination of regular entertainment and peaceful suburbia.
The iconic Burke Road shopping strip remains alive with traders featuring everything from designer goods to luxury homewares and antiques. For the weekly shop and household necessities, residents are spoilt by easy access to the Camberwell Fresh Food Markets.
Locals enjoy a readily expanding restaurant and bar scene that keeps many entertained all day, with a coffee catch-up at Prospect Espresso, CoffeeHead or East of Everything to a nightcap at the popular Bar None or Prohibition Food and Wine.
In the zone for respected public schools Camberwell Primary School and Camberwell High School, and within close proximity to some of Melbourne's most reputable independent schools including Camberwell Grammar, Camberwell Girls' Grammar, MLC, Scotch College and Xavier College, Camberwell families are rewarded with generous schooling options.
Close proximity to the city and easy access to public transport, with three tram routes and multiple train and bus options, mean minimal commutes for both work and play.
Why investors love Camberwell
A long-held reputation as one of Melbourne's most prosperous suburbs, Camberwell is a blue chip investment option with a price tag to match. Those with the right portfolio are rewarded with the prospect of a sound return, particularly over the long term.
The in-demand family homes which line the leafy, well maintained streets of Camberwell continue to attract both young and more established families with the intent of entering an ongoing rental agreement in a property they are able to make their home.
Family-oriented and house proud prospective tenants afford landlords piece of mind when considering the upkeep and maintenance of their property, in addition to the possibility of minimal vacancy on an investment.
The REIV this year ranked Camberwell among Melbourne's top 10 high performing suburbs, with house prices lifting 11.7 per cent in the first quarter of 2017. June data reveals an annual increase of 8.9 per cent since January.
Camberwell's median house price of more than $2 million is well above the average for Melbourne's inner city, and residences regularly sell above the median house price for Boroondara. Steady capital growth is backed by low rental vacancy rates and stable market rents.