Canterbury and Autumn go together like red wine and an open fire, strawberries and cream, bread and butter. Investment property advisor describes its iconic tree-lined streets shed their leafy greens, making way for the classic Autumn-glow that we see splashed across the sun-kissed postcode's Victorian and Edwardian estates.

We know Canterbury for having some of Melbourne's most prestigious avenue property in Australia, including 'The Golden Mile,' which includes Monomeath Avenue, Victoria Avenue, and Alexandra Avenue. The blue-chip suburb is bounded by Camberwell to the south, Surrey Hills to the east, Balwyn to the north, and Hawthorn East to the west, and is located just 15 kilometres east of Melbourne's CBD.

Let’s talk about Canterbury in detail with an investment property advisor-

LOCATION AND AMENITIES

Canterbury is a family-oriented suburb in the City of Boroondara Local Government Area. Hawthorn East, Camberwell, Surrey Hills, Mont Albert, and Balwyn are nearby suburbs. Residents benefit from being close to primary, secondary, and tertiary education facilities, as well as significant hospitals and health care facilities. 

Residents can make use of the many parks and gardens located within and around the suburb, as well as great transportation connections to nearby retail shopping and services. 

GARDENS & PARKS

This property in Australia is home to a variety of flora and fauna, as well as BBQ facilities. The gardens have been a popular venue for events such as weddings, the Boroondara Summer Music series, and Carols by Candlelight since the 1940s.

AMENITY & RETAIL IN CANTERBURY FROM AN INVESTMENT PROPERTY ADVISOR’S VIEW

Canterbury residents have access to 53 commercial centres and strip malls within the Boroondara municipality. The Camberwell Shopping Precinct, with over 400 retail specialised stores, fresh produce, services, restaurants, cafés, and a movie theatre, is only a short drive away.

Every weekend, customers go to the famous outdoor Camberwell Sunday Market for fashion, antiques, and veggies.

Residents in the area can enjoy the café culture along Maling Road.

EDUCATION 

According to an investment property advisor, Canterbury residents can have a variety of neighbouring schools to choose from, including public and private, single-sex and co-educational alternatives. Boroondara contains over 148 education establishments, both public and private, ranging from kindergarten to university.

TRANSPORTATION AND CONNECTIVITY

Canterbury inhabitants benefit from arterial highways that connect them to the M1 freeway, as well as adjacent suburbs and amenities. During peak hours, train services on the Belgrave/Lilydale Line run regularly, with commuters reaching Melbourne’s CBD in 20 minutes from Canterbury Station.

POPULATION

The City of Boroondara is expected to grow by 9.4% between 2021 and 2031, with an additional 17,600 new citizens moving into the municipality. Canterbury is also expected to rise in population, with 6.6% total growth during the same period, and 1,170 new individuals calling the area home.

OVERVIEW OF DEMOGRAPHICS BY INVESTMENT PROPERTY ADVISOR

White-collar employees characterise Canterbury residents, with professionals and managers accounting for over two-thirds of the resident workforce (62%). This creates an elite generation, with the average Canterbury household earning $40,890 more than the Greater Melbourne average. Furthermore, average household income has risen over time, increasing by 29% between 2006 and 2016. 

INFRASTRUCTURE

The City of Boroondara has pledged to invest more than $82 million in local infrastructure over the next two years, with Canterbury residents benefiting from enhanced connectivity and local amenity.

Through PB Property, I help my clients grow, protect and pass on their wealth through a range of services.

RESIDENTIAL MARKET

A STUDY BY AN INVESTMENT PROPERTY ADVISOR ON AFFORDABILITY & SUPPLY OF APARTMENTS

As the desire for convenience to amenity, transportation, and employment grows post-pandemic, apartments allow buyers to live in established suburbs such as Canterbury at a more accessible price point.

When compared to houses, units are often a more cheap option, making them an appealing entry point into the market of property in Australia for first home buyers and investors.



A study by an investment property advisor shows that units in Canterbury had a median price of $912,500 in the year to June 2021, which was $2,137,500 less than homes in the suburb. Canterbury units have shown substantial long-term growth of 22% in median price, or roughly 2% per year, throughout the decade to June 2021.

Read about off-the-plan settlement process with an investment property advisor.

MARKET FOR RENTAL PROPERTIES: AN INVESTMENT PROPERTY ADVISOR EXPLAINS

Canterbury units outperformed Greater Melbourne in terms of long-term median rent increase for all units over the last decade to March 2021.

Both two and three-bedroom unit types gained a premium rent in Greater Melbourne, with two-bedroom units, in particular, seeing a considerable increase.

When compared to existing apartment stock, new apartment complexes often command a higher rent.

Over the last three years to March 2021, new apartment buildings in Melbourne's eastern corridor gained an 8% rent premium when compared to older apartment complexes in the same area.

Canterbury units outperformed the rest of the City of Boroondara with a better gross rental yield of 2.6% in March 2021. In the three years to March 2021, newer apartment buildings in the City of Boroondara had a rental yield of 3.4%, a premium above older apartment complexes. 

When combined with a lower vacancy rate of 1.9% in the Inner East Melbourne region, the neighbourhood is well-positioned for rental growth and a favourable return on investment.

The bottom line is…

The markets are changing, but not all property prices will rise. Proper property selection is more important than ever. You can trust my team at PB Property to provide you with direction, guidance, and results.

If you have further questions on the property purchasing process in Australia or would like to begin your property search in Canterbury, an investment property advisor can ease your journey, let’s connect!