Melbourne’s housing affordability problems remain an issue until this day, even with the local government’s recent efforts to add 100,000 housing units. The city’s population is expanding quickly that its suburbs are catching the heat.
Suburbs including Donnybrook are benefiting, however, as people and businesses are outwardly moving towards them. Donnybrook is still small with only a population of 337, but real estate development projects are growing, thanks to available properties particularly lands for sale near Craigieburn.
Donnybrook is a small township, which is only ten minutes north of Craigieburn. The new suburb is being built as a top real estate destination. Residents still rely on nearby Craigieburn for much of their retail and consumer needs, but they are staying put due mainly to improved business.
The current median house price in Donnybrook is $410,000, growing annually from $305,000 in 2008. Still young with cheap housing, the suburb still has tracts of spare land for future development, especially in parts close to Craigieburn.
Named by “Your Investment Property” in 2014 as one of 19 growth suburbs across Australia, Craigieburn offers affordable homes and land compared to nearby Greenvale and Attwood. The population has swollen from 21,018 in 2006 to 50,347 in 2016 leading to high land and residential property demand.
The suburb has a bustling sports and retail industries. Sports and recreation is a major source of income as you can find countless golf, rugby, football, and swimming facilities in the suburb. As with commercial centres, there are three large retail hubs, which serve smaller suburbs nearby.
An industrial estate is also underway along Hume Highway
Melbourne’s northern suburbs of Donnybrook and Craigieburn are experiencing a construction boom. The availability of land is not a problem as these suburbs, particularly Donnybrook, are still growing demographically.
As such, taking advantage of these suburbs’ rapid growth by investing in its real estate market is a wise choice.