“SUMMUS” Apartment, Maribyrnong Melbourne 2 Wests Road, Maribyrnong
Maribyrnong’s investor appeal is going from strength to strength. Median apartment prices have experienced an average annual capital growth of 5.5% and gross rental yield of 4.23%.
This high demand precinct has an upwardly mobile, high income demographic, 37% of whom are renters. By 2031, the population of Maribyrnong is forecast to nearly double.
Summus sits in the heart of this emerging hotspot, next to Victoria University and one of Australia’s largest shopping and entertainment precincts.
With a tram stop at its doorstep and bordered by the lush parklands of the Maribyrnong River, this is Melbourne’s inner city at its best.
Surrounding Summus are the same attributes that have benchmarked Melbourne as the world’s most liveable city, for the fifth year in a row. Clean and green with Australia’s leading retail, education, health and leisure precincts just metres away, Summus’ neighbourhood is lifestyle gold.
Melbourne is Australia’s biggest growing city over the past 10 years
Victoria has only 3% of Australia’s land mass yet 22% of its economic activity OR use: Victoria has only 3% of Australia’s land mass yet an economy larger than Singapore
The best sporting events in the world
100/100 for healthcare, education, infrastructure and environment
Walkability and Connectivity Summary
Summus’ address rates highly on the international Walkscore scale scoring 85/100 for a very walkable neighbourhood. Rich in lifestyle amenity, the development is also surrounded by efficient road, rail and tram networks providing direct connectivity to the CBD, international airport and major education, employment, retail and entertainment hubs.
BICYCLE : 19km of riverside and parkland walk & cycle trails
TRAM : 10metres from your doorstep Yarra Tram Route 57, direct to CBD
CAR : Precinct is bordered by Western Ring Road, West Gate Freeway and City Link
TRAIN : Moonee Ponds and Footscray Station direct to CBD
Employment and Education
Maribyrnong is attracting urbanites who want to live close to where they work, play and learn. Melbourne is home to 10 world-class universities and a myriad of high achieving public and private schools. Close to Summus, several primary schools, secondary colleges and universities offer education choices close to home while it’s a quick and easy commute to leading National Employment Clusters in Sunshine, Parkville and the CBD. Facts (choose whichever from below)
Victoria University Footscray Park Campus 3.7km from Summus
Victoria University Student Village 600metres from Summus
University of Melbourne 7km from Maribyrnong
RMIT 10km from Maribyrnong
Highpoint Shopping Centre 400metres from Summus
CBD 10km from Maribyrnong
Sunshine National Employment Cluster 6.7km from Maribyrnong
Parkville National Employment Cluster 7.8km from Maribyrnong
Population Growth (includes demographics)
Rising population figures result in greater demand for rental properties. Maribyrnong’s population has had a remarkable 113% growth since 2000 and is set to nearly double again by 2031 as it continues its transformation from an industrial to a residential centre. Its relatively young and culturally diverse population are predominantly, well above-average income earners that contribute to its attractive rental market.
2015 population 10,000+
2031 anticipated 30,000+
41.6% Professionals & Managers
44.2% born overseas
32.8% are between 20-35 years old
39% tertiary educated
Rental Market Summary
Maribyrnong enjoys a strong rental market. Gentrification of the area sees new residents ready to pay premium rent for good stock. A combination of high demand, strong growth rates and surprisingly affordable property makes this an emerging hotspot that won’t wait long.
32% of the population are renters
4.8% median annual growth rate for apartments
$430K median apartment price
4.01% vacancy rate
4.8% median rental yield of for 1brm units over the last 12 months compares to; 4.5% in Flemington, 3.9% in West Melbourne, 4.6% in Docklands
Summary Attracting both government and private investment, Maribyrnong is on the move. Maribyrnong’s high-performing property market is being fuelled by Melbourne’s insatiable demand for the inner lifestyle. As young professionals are attracted to locations rich in amenity, accessibility and liveability, Maribyrnong will continue to deliver.
$300million Highpoint Shopping Centre redevelopment makes it one of the leading retail centres in Australia
$700million Maribyrnong Defence Site redevelopment
$1.3billion widening City Link
10 billion Airport Link
3,400 new residents for Edgewater Estate residential & commercial district
$4.4billion to revamp line between Melbourne and the west includes Footscray Railway Station