Maribyrnong suburb profile
Maribyrnong is a vibrant suburb located approximately 8km northwest of Melbourne's CBD, known for its scenic riverside views and diverse community. The suburb offers a mix of residential, commercial, and recreational spaces, including the popular Highpoint Shopping Centre, one of the largest in the region. Maribyrnong is home to picturesque parks and walking trails along the Maribyrnong River, providing ample opportunities for outdoor activities. With a variety of housing options, from modern apartments to traditional homes, and excellent public transport links, Maribyrnong is a sought-after location for families, professionals, and students alike.
Maribyrnong property market performance
Maribyrnong's property market has shown stability over the past 12 months, with house values increasing by 4.3% and unit values remaining unchanged. The median house price over the past three months has averaged $1.1 million, while units have averaged $507,500, indicating a steady demand for both property types.
Sales activity has been robust, with 28 houses and 54 units sold in the past three months. However, properties are taking longer to sell, with a median of 50 days on the market for houses and 56 days for units, suggesting a cautious approach from buyers.
The rental market in Maribyrnong has experienced notable growth, with house rents increasing by 6.8% and unit rents by 8.7% over the last 12 months, reflecting a strong demand for rental properties in the area.
Median price - houses$979KPast 3 months
Median price - units$516KPast 3 months
Change in value - houses3.9%12 months
Change in value - units-2.6%12 months
Houses sold24Past 3 months
Units sold47Past 3 months
Median DOM - houses46.5Past 12 months
Median DOM - units58Past 12 months
Average rent - houses$650Past 12 months
Average rent - units$500Past 12 months
Change in rent - houses8.5%Past 12 months
Change in rent - units6.4%Past 12 months
Maribyrnong demographics
Maribyrnong, located in Melbourne's inner-west, is a suburb that offers a blend of urban convenience and suburban tranquility. Known for its proximity to the Maribyrnong River and Highpoint Shopping Centre, it attracts a diverse range of residents, from young professionals to families. The median age of 36 suggests a mature community, with many residents enjoying the balance of work and leisure that the suburb provides.
The suburb's housing landscape is varied, with a significant portion of properties being owned outright (26.2%) or with a mortgage (35.1%). This indicates a stable community with a mix of long-term residents and new homeowners. Additionally, 38.7% of properties are rented, appealing to those seeking flexibility, such as students and young professionals. The presence of the Victoria University campus nearby further enhances its appeal to the student demographic.
Family life is a prominent feature of Maribyrnong, with 43% of households being couple families with children, and 40.9% being couple families without children. This family-friendly environment is complemented by parks, schools, and recreational facilities, making it an attractive option for those looking to settle down. The suburb's vibrant community, combined with its accessibility to Melbourne's CBD, makes Maribyrnong a desirable place to live for a wide range of individuals and families.
Maribyrnong infrastructure, key developments and investment opportunities
Maribyrnong is undergoing significant developments that could impact its property market. The planned transformation of the 128-hectare former Maribyrnong Explosives Factory site is set to bring 3,000 new homes, open parkland, and shops to the area, potentially boosting property values and attracting new residents. This major project, while delayed, is expected to take 10-15 years to complete once construction begins.
The suburb's connectivity is improving with ongoing enhancements to the Maribyrnong River Trail for cyclists and pedestrians. Additionally, Maribyrnong City Council has implemented a 10-year strategy to encourage more cycling by developing infrastructure and public education initiatives. These improvements in green spaces and active transport options are likely to enhance the area's livability and appeal to potential homebuyers and renters.
Maribyrnong rental market trends
The rental market in Maribyrnong has experienced moderate growth, with house rents increasing by 6.8% over the past year to $630 per week, while unit rents have risen by 8.7% to $500 per week. This suburb continues to attract renters and investors alike, thanks to its strategic location and ongoing development in local infrastructure and amenities.
Suburbs near Maribyrnong
Some popular suburbs near Maribyrnong include: