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
Current median dwelling price$666,500Past 3 months
Property growth-4.8%Past 12 months
Maribyrnong’s property market has shown stability over the past 12 months, with house values remaining unchanged and unit values experiencing a slight increase of 0.4%. The median house price has averaged $862,944, while units have averaged $517,500, indicating steady demand in the area.
Sales activity has been moderate, with 14 houses and 37 units sold in the past three months. Houses are selling slightly faster, with a median of 46 days on the market, compared to 52 days for units, suggesting a balanced interest between property types.
The rental market in Maribyrnong has seen notable growth, with house rents increasing by 10.2% and unit rents rising by 4.2% over the last 12 months, reflecting a strong demand for rental properties in the suburb.
Houses | Units | |
---|---|---|
Median price Past 3 months | $910K | $423K |
Change in value Past 12 months | -9.5% | -0.2% |
Sold Past 3 months | 27 | 66 |
Median days on market Past 12 months | 49 | 99 |
Average rent Past 12 months | $665 | $500 |
Change in rent Past 12 months | 8.1% | 5.3% |
5 year median price trend for houses and units
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 10.2% over the past year to $650 per week, while unit rents have seen a 4.2% rise to $500 per week. With its strategic location and ongoing development, Maribyrnong continues to attract renters and investors looking for promising opportunities in the Melbourne area.
Suburbs near Maribyrnong
Some popular suburbs near Maribyrnong include:
How does Maribyrnong compare to nearby suburbs?
- Median house prices: Maribyrnong’s median house price is 11.9% higher than Maidstone’s.
- Median unit prices: Maribyrnong’s median unit price is 3.2% higher than West Footscray’s.
- House price growth: Property prices in nearby Maidstone have risen 6.6% more than in Maribyrnong over the past year.
- Unit price growth: Over the past 12 months, unit prices in Maribyrnong have grown 8.6% higher than in Maidstone.
- Selling speed for houses: Properties in Maribyrnong are selling 49.5% faster than in Maidstone.
- Selling speed for units: Properties in Maribyrnong are selling 33.1% faster than in Braybrook.
- Investment considerations: In Maribyrnong, the rental yield for house is 7.1% higher than the Melbourne average, while the rental yield for units is 10.6% lower.
- House price growth: Over the past 12 months, house prices in Maribyrnong have grown 10.1% lower than the average rate of growth across Melbourne.
- Unit price growth:Over the past 12 months, unit prices in Maribyrnong have grown 24.5% lower than the average rate of growth for units across Melbourne.