JANUARY 29, 2015
Let's Move to... Glen Iris
This is an area which ticks boxes for a home buyer would who is in search of suburban comfort but CBD proximity. Glen Iris’ wide, tree-lined streets and quiet cul-de-sacs are interspersed with plenty of playgrounds and parks. Footy fans will also be satisfied by the number of local football clubs at their disposal, such as Glen Iris Gladiators, St Kevin’s and East Malvern football club. Young families can be seen walking to school in the mornings, sharing the footpath with teenagers on route to the tram stop taking them to one of the many nearby schools. If you are in search of suburban satisfaction, Glen Iris could be the place for you.
What locals have to say
When Georgina Cruikshank and her husband were in search of a family home, in a safe, community- orientated suburb, they found it in Glen Iris. “We loved the beautiful leafy streets, the parks and its proximity to good schools”.
Q: Why were you drawn to Glen Iris over other suburbs?
A: It’s really close to great shopping options (Chadstone, High St Armadale, Burke Road Camberwell), excellent schools (private and public), public transport (trains and trams) and restaurants. It is also not too far from Prahran and South Yarra for a bit of fun!
Q: Who lives in Glen Iris and what kind of house buyer would be suited to living there?
A: It is quiet and safe so really appealing to young families. There are some older couples who have lived there for a long time, but the average age would most likely be 40’s.
Q: What are the top 5 reasons why a home buyer should consider moving there?
A: Beautiful leafy streets, parks, schools, public transport, shopping. It’s just a great place to grow up and raise a family.
Local favourite: Central Park on Wattletree Road is a beautiful park and for pet owners, it is a great off- leash dog park.
The local agent’s perspective
Local agent, Anthony Smith, says that Glen Iris attracts growing families but is also proving to be popular for first home buyers and investors, due to its easy access to the freeway and city fringe location. “Glen Iris has a significant amount of unit properties, which are a great opportunity for investors to utilise as rentals”, Smith says.
The household composition in Glen Iris is largely family based, where 70.7% are family households, 24.3% are single person households and 5.0% are group households. The current median house price for Glen Iris is $1,355,000 and the median unit price is $540,000. This is slightly lower than 12 months ago, where the median house price was $1,375,000, and the median unit price was $591,350. The average monthly loan repayment at present is $2,383 and the average figure for a rental property per week is $351.
Local agent, Anthony Smith, says the market looks to be moving in the direction of increased house prices. This could perhaps be because Glen Iris was initially undervalued but home buyers are now recognising its value- particularly growing families in search of decently sized properties who are locked out of more expensive bordering suburbs, Malvern and Malvern East. Because of this, buyers are suggested to start their research now before Glen Iris follows suit with its neighbor suburbs.
Feeling inspired? Look no further than Glen Iris’s local experts, their agents. Click the link below and connect with a Glen Iris agent who can help give you a better view.
All images courtesy of Woodards, Camberwell.
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