Some cities are concrete jungles, others can effortlessly ooze culture and style. Melbourne City is definitely the latter.
For years, Melbourne has been ranked among the most liveable cities globally. It’s criss-crossed with curious laneways just waiting to be discovered, and let’s not forget all the major sporting and cultural events it hosts annually.
But oddly, Melbourne City isn’t one of the most highly considered suburbs in the greater Melbourne region – until now.
“Melbourne CBD just has so much going for it and for those who live there,” Anne Flaherty, REA Group economist, says.
“It’s close to lots of parks and green spaces. It has a really vibrant cafe and restaurant scene and it’s also on the edge of a lot of lifestyle suburbs as well.”
So, if you’re looking for a great new neighbourhood, here are seven reasons to invest in Melbourne’s CBD.
1. Foodie culture
Melbourne is known for food.
Any night of the week, restaurant-goers can stroll out the front door and find a seat at the table of a chef-hatted restaurant.
The city’s laneways also harbour trendy cafes, sophisticated cocktail bars and laidback rooftop bars, so it’s easy to find the right venue to suit any occasion.
2. Art and music
Melbourne’s CBD always has an array of gigs, shows and exhibitions happening.
Brush up on your art at National Gallery of Victoria (NGV), learn something new at the Australian Centre of Moving Image (ACMI) or catch a gig at the Forum.
There are also plenty of beloved arthouse and outdoor cinemas, from Moonlight Cinema in the picturesque Botanic Gardens to Nova Cinemas in Carlton, if all you feel like doing is watching a movie with a house-made choc-top.
3. Car-free living
Public transport is convenient and accessible in inner-city Melbourne, so residents can ditch the car. There’s even a free tram zone, which extends from Queen Victoria Market to Docklands, Spring Street, Flinders Street Station and Federation Square, to cut costs moving between the city limits.
“For people living in the city, access to public transport like trains and trams makes it really easy to get around,” says Flaherty.
“But now the Metro Tunnel Project is happening, it’ll give people in the city even better access around the CBD. It’s going to massively increase connectivity across wider Melbourne too.”
4. Green space
When it comes to the natural elements, Melbourne does not disappoint.
There’s the Royal Botanic Gardens Victoria which has 38 hectares of sprawling greenery and plant species from over the world. On the north side of the Yarra, Birrarung Marr offers a nice walk or bike ride, with windows into indigenous artwork and culture. There’s also Treasury Gardens, Carlton Gardens and Flagstaff Gardens.
During AFL finals, there’s a certain buzz about the city.
Residents can catch a game at the MCG or Marvel Stadium in Docklands, both accessible on foot and by tram.
Whether you’re after high-end clothing, accessories, homewares or books – Melbourne has plenty of shopping options.
You can scour laneways and arcades to find boutique stores. For high fashion and couture, Collins Street is the hub, where as Bourke Street Mall, Melbourne Central, and the Emporium house a lot of local designers as well as popular High St fashions and the longstanding Myer and David Jones stores.
For all your home cooking and entertaining needs, specialty food stores abound. There’s King and Godfree in Carlton and Spring Street Grocer in the CBD.
Unlike other Melbourne suburbs, inner-city prices haven’t risen dramatically during the pandemic.
This means properties are affordable, and some places are cheaper to buy than rent, making them attractive to the right buyer, according to Flaherty.
“Also, for those people considering buying in the City of Melbourne, including Southbank, Docklands, Carlton and North Melbourne, the next few months are an opportune time to get into the market as a result of the concessions on stamp duty in these areas,” she says.
Under the scheme, stamp duty is halved for new apartments that cost under $1 million and have been on the market for less than 12 months if bought before 30 June 2022. For new apartments on the market for more than 12 months, stamp duty is waived.
To find out more, visit This is Your Local.
Pictures courtesy of City of Melbourne.
This article was originally published on
28 Oct 2021 at 9:05am
but has been regularly updated to keep the information current.