The Inner west leading the way July 2002 RETURN
It is nice to know our professional hunches were spot on when we entrenched ourselves on the North West fringe by living here and opening offices in Flemington & later in Moonee Ponds, opposite the railway station. The suburbs surrounding our offices have been boomtowns, with rampant capital growth periods and fantastic Inner-City lifestyles.
When we started our Real Estate careers in 1982, the most obvious question was where to base our services. After serious consideration to lifestyle trends, property type and expected capital gains, an obvious standout district was the Inner North West corridor, from North Melbourne to Strathmore. We believed these areas had huge potential and were relatively good value for the time. We might have been ahead of our time in Flemington, as property in 1982 was dirt-cheap yet you still had to convince people with only $30,000, to buy and live there. This made us more determined than ever. Even in the mid 1990’s we were the only Estate Agents willing to call Flemington or Kensington their place of business and keep promoting our area.
We have witnessed both the highs & lows over the years, yet are delighted history has backed our wisdom. The area did exactly what we always said it would, be one of the Hot Spots of Melbourne Recent reports illustrate the financial benefit of having property in these areas.
Suburb Median House Median House %Increase Price 1996 Price March 2002 Ascot Vale $165,000 $369,500 123.9 Essendon $187,800 $429,000 128.4 Flemington $136,000 $352,000 158.8 Kensington $128,250 $341,000 165.9 Moonee Ponds $168,000 $379,750 126.0 By Comparison Boronia $104,000 $182,500 75.5 Carlton $220,200 $415,000 88.5 Ferntree Gully $108,000 $181,000 67.6 Mont Albert $257,000 $418,000 62.6 Sunbury $110,000 $172,000 56.4
This is an astonishing performance and the figures going back the 1980’s are even more staggering, it’s been a pleasure to be involved all the way. We are aware the benefits of our areas are not limited to those financial, but its nice to know ones wealth can increase while you are living it up!
Jason Marston Managing Director Marston & Cook
It is nice to know our professional hunches were spot on when we entrenched ourselves on the North West fringe by living here and opening offices in Flemington & later in Moonee Ponds, opposite the railway station. The suburbs surrounding our offices have been boomtowns, with rampant capital growth periods and fantastic Inner-City lifestyles.
When we started our Real Estate careers in 1982, the most obvious question was where to base our services. After serious consideration to lifestyle trends, property type and expected capital gains, an obvious standout district was the Inner North West corridor, from North Melbourne to Strathmore. We believed these areas had huge potential and were relatively good value for the time. We might have been ahead of our time in Flemington, as property in 1982 was dirt-cheap yet you still had to convince people with only $30,000, to buy and live there. This made us more determined than ever. Even in the mid 1990’s we were the only Estate Agents willing to call Flemington or Kensington their place of business and keep promoting our area.
We have witnessed both the highs & lows over the years, yet are delighted history has backed our wisdom. The area did exactly what we always said it would, be one of the Hot Spots of Melbourne Recent reports illustrate the financial benefit of having property in these areas.
Suburb Median House Median House %Increase Price 1996 Price March 2002 Ascot Vale $165,000 $369,500 123.9 Essendon $187,800 $429,000 128.4 Flemington $136,000 $352,000 158.8 Kensington $128,250 $341,000 165.9 Moonee Ponds $168,000 $379,750 126.0 By Comparison Boronia $104,000 $182,500 75.5 Carlton $220,200 $415,000 88.5 Ferntree Gully $108,000 $181,000 67.6 Mont Albert $257,000 $418,000 62.6 Sunbury $110,000 $172,000 56.4
This is an astonishing performance and the figures going back the 1980’s are even more staggering, it’s been a pleasure to be involved all the way. We are aware the benefits of our areas are not limited to those financial, but its nice to know ones wealth can increase while you are living it up!
Jason Marston Managing Director Marston & Cook