Moorabbin is a vibrant suburb located approximately 15 kilometers southeast of Melbourne's central business district (CBD) in the state of Victoria, Australia. Historically, Moorabbin was predominantly rural until the mid-20th century when suburban development began to take shape.
The area experienced significant growth during the post-war period, with the expansion of residential neighborhoods, industrial estates, and commercial precincts. An interesting fact about Moorabbin is its rich aviation history, with Moorabbin Airport being one of the busiest general aviation airports in Australia.
While Moorabbin has undergone some gentrification and improvement in recent years, it maintains its character as a diverse and evolving community. The suburb has seen an increase in property prices over the past decades, reflecting its growing popularity and demand for housing in Melbourne's southeast.
Lifestyle
Moorabbin offers residents a variety of lifestyle amenities, including parks, reserves, and recreational facilities. Popular outdoor spaces include the Moorabbin Reserve, featuring sporting fields, playgrounds, and walking paths, as well as nearby parks such as the King George VI Memorial Reserve and the Joyce Park Wetlands.
Residents of Moorabbin enjoy engaging in a range of activities, including walking, jogging, and cycling in the local parks and along the nearby beachfronts. The suburb also boasts a thriving café culture, with numerous coffee shops and eateries lining the streets, providing residents with opportunities to socialize and unwind.
Throughout the year, Moorabbin hosts various community events and festivals, including food and wine festivals, art exhibitions, and cultural celebrations, which contribute to the vibrant atmosphere of the suburb. Pets are popular in Moorabbin, and residents often take their furry friends to local parks and designated off-leash areas for exercise and socialization.
School Zones
Moorabbin is serviced by several public primary schools and catholic primary schools, including Moorabbin Primary School and St. Catherine's Primary School.
Public high schools in the area include Moorabbin Secondary College and nearby schools such as Sandringham College and Bentleigh Secondary College. Exclusive independent private schools that cater to the affluent include Haileybury Brighton and St. Leonard's College.
For students with special needs, the closest school is the Southern Autistic School, which provides tailored educational programs and support services for students with autism spectrum disorder and other disabilities.
Demographics
According to the Australian Bureau of Statistics (ABS) census data, the median weekly household income in Moorabbin has shown steady growth between 2006 and 2021 rising from $989 to $2,031 , reflecting the suburb's increasing prosperity.
The percentage of families in Moorabbin is in line with the national average, with a diverse range of demographic groups represented in the suburb.
Moorabbin has a multicultural population, with major cultural ethnicities including Anglo-Australian, Italian, Greek, and Vietnamese communities. The average income in Moorabbin compares favorably to the Australian average, indicating that the suburb's wealth is increasing over time.
Employment
The suburb of Moorabbin is home to a diverse range of industries and employers, including manufacturing, retail, healthcare, and professional services. According to the 2021 ABS census data, a significant percentage of residents, 52% are employed in professional and managerial roles, reflecting the suburb's growing economy and job market.
The top five employers in Moorabbin include industrial businesses, logistics companies, retail outlets, healthcare providers, and educational institutions. Many employees in Moorabbin work within the suburb itself or commute to nearby employment hubs in Cheltenham, Braeside, and Clayton.
Transport
Moorabbin is well-served by public transport options, including bus routes operated by Public Transport Victoria (PTV) that connect the suburb to surrounding areas and nearby train stations. The Moorabbin railway station provides access to the Frankston line, offering direct services to Melbourne CBD and other destinations.
Private transport is also popular in Moorabbin, with many residents owning cars for commuting and leisure activities. The suburb is conveniently located near major roadways such as the Nepean Highway and the Dingley Bypass, providing easy access to Melbourne CBD and other parts of the city.
Shopping Centre's, Restaurants & Facilities
Moorabbin offers a range of shopping centers, restaurants, and facilities to cater to the needs of residents and visitors. The walk score of the suburb is high, indicating that many amenities are within walking distance for residents.
Local shopping centers such as Southland Shopping Centre and Moorabbin DFO provide a diverse range of retail stores, supermarkets, and specialty shops, offering everything from groceries to fashion and homewares. For major shopping, residents can visit nearby centers such as Chadstone Shopping Centre, one of the largest shopping malls in the southern hemisphere.
The suburb boasts a variety of dining options, including cafes, restaurants, and eateries serving cuisines from around the world. Local favorites include Vietnamese pho restaurants, Italian trattorias, and trendy brunch spots, providing residents with a diverse culinary experience.
Moorabbin is home to several local facilities and amenities, including parks, sporting facilities, and community centers. Residents can enjoy a range of lifestyle activities, including swimming, tennis, and fitness classes, while social clubs and interest groups offer opportunities for networking and socializing.
Development
Moorabbin features a mix of dwellings, including detached houses, townhouses, and apartments, catering to various lifestyle preferences and housing needs.
While older-style homes are prevalent in the suburb, there has been an increase in medium-density developments and townhouse complexes in recent years, reflecting changing demographics and housing trends.
Common developments in Moorabbin include knock-down rebuilds, renovations, and redevelopments, as residents seek to modernize existing properties or capitalize on the potential for higher-density housing. Subdivision opportunities are limited in Moorabbin due to its established suburban layout and land availability.
Capital Growth
The average capital growth for houses, townhouses, and units in Moorabbin has been positive over the past decades, driven by factors such as proximity to Melbourne CBD, access to amenities, and lifestyle appeal. Houses have performed at 9.2% with better pockets of the suburb for houses include areas close to parks, schools, and transport links, which attract buyers seeking family-friendly living environments which have performed at above 11%.
Factors driving capital growth in Moorabbin include ongoing infrastructure projects, such as road upgrades and public transport improvements, as well as increasing demand for housing in Melbourne's southeast. Main buyers in the suburb include first-home buyers, young families, and investors looking for long-term capital appreciation.
Cash Flow
The average cash flow for houses in Moorabbin is competitive, with solid rental yields at 3% attracting investors seeking rental income and capital growth potential. Townhouses and units also offer favorable yields of 4.3%, particularly in areas close to amenities and transport links.
Over the past decades, cash flow for properties in Moorabbin has shown steady growth, reflecting increasing demand for rental accommodation and limited supply in the rental market. Common tenants of leased properties in the suburb include young professionals, families, and students attending nearby educational institutions.
Rental Demand
The average vacancy rates for houses in Moorabbin have remained relatively low over the past 10 years, indicating strong rental demand and a stable rental market at 1.7%. Similarly, vacancy rates for townhouses and units have also been favorable, with consistent tenant demand and limited available stock.
Since the COVID-19 pandemic, rental demand in Moorabbin has remained resilient, driven by factors such as population growth, lifestyle appeal, and proximity to employment hubs. The major driving forces behind rental demand include affordability, access to amenities, and lifestyle factors, while rental stock levels have decreased due to limited new developments and increasing property prices.
Why You Require a Buyers Agent in Moorabbin
In Moorabbin, the competition for properties is fierce, with high demand and limited available stock driving up prices and creating challenges for buyers. Stock levels are constantly low, particularly for well-presented properties in desirable locations, making it essential for buyers to act quickly and decisively in the competitive market.
A buyer's agent can provide invaluable assistance to buyers in Moorabbin, offering expert advice, local market knowledge, and access to off-market opportunities. With their guidance, buyers can navigate the complexities of the real estate market, secure the right property at the right price, and gain a competitive edge in their property search.
Additionally, a unique reason why Moorabbin is a good place to buy is its potential for future growth and development, with ongoing infrastructure projects and urban renewal initiatives enhancing the suburb's appeal and livability. By investing in Moorabbin, buyers can capitalize on its strong capital growth prospects and enjoy the benefits of suburban living with convenient access to Melbourne CBD and surrounding areas.
Having a buyers agent in your corner is crucial to your success in Moorabbin. Having the knowledge, strategy, access and negotiation ability will ensure you save thousands on the way in and make potentially millions in the future.
Why not seek Professional Advice from one of our consultants
We are unbiased market investors, who will put you first.
We treat every deal for your portfolio as if it were our own.
We will give the time to understand every clients situation & needs.
Our performance is unparalleled in the industry.
We have a background in Finance, Banking, Mortgages, Leveraging, Taxation & We are Present Market Investors.
We are precise down to the level of the suburb, street & house for greater performance.
The cost of our service is nearly half of what many industry professionals charge, yet their results do not represent value for the cost of their services.
Phone: (02) 9136 0263
Email: admin@compoundinvest.com.au
Comments