Why Stonnington is Still so Appealing
Stonnington is as convenient as it is attractive. Located in Melbourne’s inner south east and residing alongside the Yarra River, this primarily residential area is only a short distance from Melbourne CBD.
A municipality which ticks all the boxes, Stonnington is as convenient as it is attractive. Located in Melbourne’s inner south east and residing alongside the Yarra River, this primarily residential area is only a short distance from Melbourne CBD.
The verdant streetscapes in the region feature a vast array of architectural styles, including an impressive selection of Victorian, Edwardian and terrace houses with a few Art Deco residences thrown in the mix. A very affluent area, many of the classic homes have been refreshed with sophisticated and high-quality renovations.
In additional to picturesque streets, Stonnington offers residents exceptional facilities in the form of parks, prestigious local schools and vibrant shopping precincts. Of course, the region famously features the iconic Chapel Street precinct, but locals tend to frequent a variety of shopping strips; particularly Glenferrie Road, Toorak Village and Hawksburn Village.
Adding to the broad appeal, the Stonnington rental market consists of apartments, family homes and high-end homes. The area is popular particularly with couples looking for apartments, young families seeking terraces and townhouses and more established families investing in larger and high end houses.
‘It’s a fast-paced property market. Days on market tend to be lower than other areas, with correctly priced properties currently leasing within 10 – 15 days,’ says Marshall White Business Development Manager Kate Humphreys.
Stonnington boasts a dedicated residential community who often build roots such as enrolling children in local schools. A large portion of tenants choose to stay within the area so when they do outgrow a space and decide to move, it may only be as far as a suburb.
As a highly desired market, we recommend people looking for a home apply promptly and consider multiple properties. Owners in this area often have the benefit of being able to choose between multiple tenants. This doesn’t mean owners can let the standards of their property slip as tenants attracted to this prestigious area tend to expect quality homes.
The Stonnington rental market begun 2020 on a strong note, showing consistently positive results. The market has seen a particularly fast paced start to the year, partially due to a number of locals needing to be rehomed after major summer storms.
‘With experience, we know how cycles work. Many people in this area want to be settled into a new residence before Christmas or the start of the school year. This is amplified by the fact more people move during summer when it’s a bit easier,’ says Kate.
Stonnington is showing no signs of slowing down. Apartment buildings are constantly in development while the local shopping precincts are home to many thriving businesses and show a healthy hustle bustle.
‘Our team is geared to taking a proactive approach to securing success in such a competitive environment. We have a forward thinking director Paula Matlock as well as resources and admin support working hard in the background so we can be out on the road hosting open inspections and providing options,’ says Kate.
View properties currently for lease below