Located just 20 km southeast of the Melbourne CBD, Monash city is regarded as the best location to purchase an abode due to its family-friendly atmosphere and the availability of the basic amenities. With the remodeling projects of the suburb and the upcoming massive health and medical precinct, new job opportunities are available to the residents. For this reason, the unemployment rate of Monarch has been roughly below the national and national average for more than eight years.
Monash city is witnessing the commencement of several new projects after the older buildings are being replaced by multi-story units and houses. The city has plenty of private schools, and one of the largest universities in Australia is also located here.
Shopping hubs such as Erindale Shopping Centre and the Tuggeranong Hyperdome are easily reachable. Plenty of shopping and dining areas are also present in the neighborhood, including Brandon Park and Oakleigh Central.
Apart from the high-end shopping hubs and other recreational points, you will find lush green areas bordered by trees that offer a peaceful spot to walk or cycle. The famous Isabella Pond and the Tuggeranong Creek find their home in the city.
In terms of housing plans and upcoming residential projects, Monash offers a combination of independent residential houses containing four or more bedrooms and townhouses with three bedrooms. Lavish bungalows with wide-open patios and mid-sized apartment units are put on sale from time to time. The hillside residential houses with pools, offering a sneak peek into the neighboring estates, can also be sold.
If we look at the past trends, the real-estate price saw steady growth in 2020 and 2021 amidst the pandemic and lockdown scenarios that severely impacted the city. As of February 2022, the average price of independent houses has seen impressive growth of 15% in the previous 12 months. Likewise, the rate of apartment units saw a decent rise of 7%. The property market is expected to perform even better now since the restrictions have been revoked, and the barriers put on international travel and trade are now wide open. Since the Suburban Rail Loop (SRL) is already in the initiation phase, it is predicted that Monash will perform much when compared to its other counterparts.
The following picture shows the unit vs house and renters vs owners ratio. This suburb has more renters than owners, and this place could be the best option for both investment and living purposes.