Docklands Real Estate
Docklands Real Estate Overview:
Docklands is a rapidly-growing suburb situated around Victoria Harbour to the west of the CBD. It contains a range of commercial and industry headquarters, as well as entertainment and sporting facilities, shops and residential areas. The total area is approximately 3 square kilometres, and it has 7 kilometres of river frontage along the Yarra River. Between 2001-2006 the population grew 492%, and is now 3,951. Most Docklands residents are aged between 20-29 years.
This waterfront suburb has a wealth of entertainment, restaurants and shops, and residential, technology and commercial facilities. It is home to Etihad Stadium, the Icehouse, Waterfront City and Costco and is the national headquarters of the National Australia Bank, ANZ, AXA, Bendigo Bank, Medibank Private and the Bureau of Meteorology.
Docklands is also a major residential area; the entire population lives in high-rise apartments. Southern Cross Station, the state’s major suburban and regional transport hub, is within its boundaries.
Docklands real estate statistics:
Households are primarily young couples without children (33%) and single parents (32%) as well as lone households (22%). These are affluent households, with 30% of people reporting an income of over $103,000pa.
Compared to the rest of Melbourne, there is a higher than average percentage of renters (77%), with only 15% of purchasers and 6% outright owners accounting for the remainder of residents.
Investors in Docklands are likely to be repaying between $1,000-$1,200 per month on mortgage repayments. In 2006, 21.2% of all homes were owner-occupied, down from 40.3% in 2001. The median sales price of houses in the area is currently $1,575,000; 259 houses were sold in the last 12 months.
Docklands is still a developing area – 1/3 of its floor space comprises un-built land. When Docklands is complete in 2020 it will be as large as the CBD, with 20,000 residents as well as thousands of workers and visitors. Over the next 5 years almost 3,000 new dwellings are expected to be built.
DOCKLANDS REAL ESTATE
DOCKLANDS APARTMENTS FOR SALE
DOCKLANDS APARTMENTS FOR RENT