Suburbs like Kingsbury, Abbotsford, Parkville, Ardeer and Brooklyn are now amongst the most trendy suburbs in Melbourne which are witnessing high demand from Gen Y buyers. These neighborhoods are also witnessing a major influx of residents in this category. Youngsters are now moving to these suburbs in large numbers and these areas were previously regarded as unfashionable. Several cafes and stores are also coming up in these suburbs.
Abbotsford witnessed the largest increase in the number of residents aged between 25-34 years and this went up by 36%. Kingsbury witnessed an increase in the number of Gen Y buyers to the tune of 34%. The figures were 28% for Essendon North, 25% for Sandringham, 26% for Doncaster and Brooklyn and 24% for Burwood and Parkville.
Youngsters are reportedly flocking to these suburbs either due to their comparative affordability or the increasing lifestyle facilities. Areas like Kingsbury, Brooklyn and Ardeer are on their way towards becoming highly sought after locations and the influx of youngsters is leading to a transformational shift since there are more restaurants, schools and cafes while old houses are also being renovated in these neighborhoods. Young buyers also have more affordable alternatives in these areas and others like Glenroy, Sunshine and Reservoir in comparison to popular locations like Preston and Yarraville.
Suburbs like Abbotsford are steadily becoming the first choices for several young families. It is close to the city and is home to the Steiner school and the Children’s Farm. Parkville is also popular for its proximity to the CBD and also the cafes, bars and joints along the Sydney Road in Brunswick.