Southbank primarily consists of units, making up just over 98.5 per cent of the types of dwellings. The market’s appeal stems from its close proximity to the CBD of Melbourne. In fact the drive is less than ten minutes, which is spectacularly good for a city that competes with Sydney for population.
According to the Real Estate Review, the majority of the population that lives in the area rent, with 68 per cent doing so over purchasing. According to weekend data from auction sales, the types of units that are typically sold were one-to-two bedroom dwellings but these can come at a cost with a two bedroom unit selling for $510,000 at auction.
The proximity to the city and the many amenities that it offers is behind the exclusive price that comes with an exclusive address. Southbank is a place where the beating heart of the city and the peacefulness of the Yarra River come hand in hand and as a result, it’s a pretty good place to call home. With the main CBD of the capital of Victoria just a stone’s throw away, the quality of shopping is second to none. The huge attractions of department stores such as David Jones and Myer coupled with designer offerings like Cartier and Chanel mean that on your doorstep is a veritable paradise of shopping.
Juxtaposed with the modern skyscrapers and shopping precincts is a scattering of history with the historic Victorian Barracks located on St Kilda Road. This piece of history is just 15 minutes’ walk from the heart of Southbank.
The Royal Botanic Gardens are within five minutes walk of Southbank, right on the banks of the Yarra river. The Gardens are a hub of native beauty in amongst the sprawling concrete environment of the Melbourne CBD.
With the Southgate footbridge right nearby, the time it takes for you to commute to the CBD will simply depend on how fast you wish to walk. The convenience of this location means that a car will only really have to be used for a big grocery shop. And with the price of petrol getting higher and higher, a convenient location that requires walking for most places is an absolute must.
If you’re looking for a suburb in the heart of Melbourne, this is the place to be.
If you wish to learn more about getting into the market in Southbank, call Andrew Salvo at Ray White Southbank on 03 8102 0200.