In this Buyers Advocate Melbourne post, Luxton Property will summarise the aspects of living in Ivanhoe that have made Ivanhoe the charming sought after suburb it is today.
Ivanhoe, famous for its Boulevard Christmas Lights that draw thousands of tourists every year, is located 12km North East of Melbourne’s CBD, and is amongst a cluster of other prestigious suburbs including Kew and Balwyn. With the Eastern Freeway located close to the area, residents enjoy quick access to the popular Yarra Valley and Mornington Peninsula – both are a one hour drive away. Weekend-getaway’s aside, Melbourne’s CBD can be reached in under 30 minutes by car or within an hour by train from Ivanhoe Station or nearby Darebin Station.
|Property Data for Ivanhoe|
|Median house price:||$1,412,500|
|(May 2017)||$631,000 (May 2017)|
|– Price per square metre||$2,512|
|– Annual Capital Growth||4.10%||-0.39%|
|– Average Annual Growth||8.29%||6.89%|
|– Capital Growth since 2012 (5 years)||44.1%||18.8%|
|– Median Advertised Rent (per week)||$520||$395|
|– Gross Rental Yield||1.9%||3.22%|
|Demographics of Ivanhoe|
|Municipality||City of Banyule|
|Median household income||$1,599 per week|
|Median housing loan repayment||$2,167 per month|
|Average household size||2.5 (people)|
|Dominant country of birth||Australia (74%)|
|Dominant religion||Christianity (61%)|
|Percentage that work||65%|
|Dominant occupation||38.6% professionals, 15.3% managers, 14.7% clerical & admin|
|Household income||40.9% earning above $1500 (weekly)|
|Dominant dwelling type||71.3% separate house|
Source: ABS Census, 2011 – YourInvestmentPropertyMag.com
|Property buying information for Ivanhoe|
|Most expensive pocket/s:||Property within the boundary of Livingstone Street, Waterdale Road, Banksia Street and Oriel Road
Property within the boundary of The Boulevard to the south and east and Lower Heidelberg Road to the North and West
|Transport||Train: Ivanhoe Station, Darebin Station (Hurstbridge Line)|
|Bus stops on St Elmo Rd, Banksia St, Lower Heidelberg Rd, Bond St, Oriel Rd|
|Popular Shopping Hubs||Upper Heidelberg Rd, Ivanhoe Plaza, East Ivanhoe Village|
|Popular Private Schools||Ivanhoe Grammar School, Ivanhoe Girls’ Grammar School, Mary Immaculate Primary School, Mother of God Primary School|
|Popular Restaurants||Vatutto, Centonove, Tao’s, Vasko|
|Popular Attractions||Hatch Art Space, The Boulevard Christmas Lights|
Living in Ivanhoe can be described as a charmingly prestigious established green suburb with quiet tree lined leafy streets. Ivanhoe has everything at your doorstep. The majority of community activity resonates from the well-known Heidelberg Town Hall ( also known as The Centre, Ivanhoe) and down the main shopping strip of Upper Heidelberg Rd and on to the adjoining Lower Heidelberg Rd and Boulevard. It is in these areas where residents enjoy their weekend brunch and do their shopping at many of the cafes, restaurants and boutique stores. Residents are further spoilt for choice with access to golf courses, parklands, walking and biking tracks, an aquatic centre and other sporting facilities.
Ivanhoe is known for its established historic period and character homes, in particular the popular Art Deco, on large blocks of land with park or city views. More recently there have been newer apartment developments and modern town homes popping up. The median buy-in for a house in Ivanhoe is valued at $1.4 million, or $630 thousand for a unit. Although the value of property in Ivanhoe can seem to be on the higher-end of the affordability scale, investors should account for qualitative aspects of both living in Ivanhoe and available properties within the suburb.
With a plethora of amenities available, it’s no wonder that Ivanhoe has become a sought after place – home to established families, but more recently home to mature singles. Ivanhoe could be the next place for young families to settle down in too given the range of prestigious school’s available in the area including Ivanhoe Grammar School and Ivanhoe Primary School, just to mention a few. It’s also safe to say that Ivanhoe has become home to a community of artists as they flaunt their latest masterpieces in the local Maker’s Market. Hatch, the local contemporary art space ads to the artistic vibe of Ivanhoe, as well as the modernistic architecture mixed in with period-style architecture. The charm of Ivanhoe seems to have brought residents together – creating a community-feel to the area.
We know the intricate details of Ivanhoe as well as most suburbs in Melbourne’s North East to ensure we buy the best property for our clients at the best price. The above is just a brief insight in to how thorough we are with our property research, which in turn assists our clients to make the right decision with their next purchase. You see the more information we have, the better our buying strategy. This ensures our client’s needs are always met and their expectations are always exceeded.
At Luxton Property Group we specialise in purchasing property for investors and premium home buyers. You might just be starting out in the property market or be a seasoned property investor looking for an edge. The above is just a small glimpse in to what we do and how we use our local market knowledge to buy our clients the best property at the best price. We have been buying property for over a decade and have a superior buying service at a more affordable price. If your thinking about living in Ivanhoe, Request a call today to speak to one of our property buying experts for a no obligation discussion on how we can assist you with your next purchase.