Sandringham is one of Melbourne’s most desirable Bayside suburbs; popular among families and older couples looking for laid back beachside living in good proximity to Melbourne’s CBD. Located just 16 kilometres southeast of the city, the area is bordered by Hampton, Highett, Cheltenham and Black Rock.
Health and fitness enthusiasts are attracted to Sandringham as it offers a perfect environment for a healthy outdoor lifestyle. With almost a quarter of the area being made up of green space and parkland, residents can often be found running, walking and cycling along the foreshore. For those looking for more specific sporting activities the suburb doesn’t fail to disappoint, boasting one of Melbourne’s most prestigious yacht clubs, world-class golf courses and the Sandringham Football Club. Set on pristine coastline, Sandringham offers beach and city lovers alike impeccable seaside living.
Sandringham is also made popular by the village lifestyle it boasts. The main retail area is around Station Street and offers an array of cafes including the kitsch, Cuppa Cottage, a quirky café popular with the local parents for its babycinos and homemade cakes. The area also has a number of restaurants and takeaway shops as well as independent bookstores, toy shops and speciality food stores which are in keeping with the village lifestyle. In addition more mainstream amenities such as a supermarket, library and police station can be found here. The Sandringham train station is the end of the Sandringham line and regular trains run in to the CBD in just under half an hour. Sandringham also has a public hospital.
Sandringham has a variety of housing styles. Art Deco homes, Edwardian properties and Californian bungalows are all well sought after by families. In addition, the area has a number of more modern townhouses, semis and terraces as well as luxury apartment blocks and courtyard properties which are popular with the older residents. The area has a number of quiet streets which offer the perfect piece of suburban life.
For those looking to invest in a Bayside suburb, Sandringham is definitely one to consider. With large blocks of land and a median house price of $1,180,000 for a house the area has seen good year on year growth. However, there is a high demand for property in the area so it pays to know what you are looking for and possibly consider properties that need some renovation as a more affordable way of gaining a foothold in the area.
Renters make up almost a quarter of the property market in the area – a number which has increased in the past five years. This makes investing in the buy to let market in the area a good decision with average rents yielding $400 per week for a unit and $795 per week for a home. When buying to rent it is important to consider location, location, location to secure maximum return on investment. For example ensuring your property is within a few minutes walking distance to transport and shops and in the catchment area of good schools will make it more desirable than competing properties as these are often fundamental requirements for potential renters.
Sandringham is one of Melbourne’s most prestigious beachside suburbs and by doing the research on the location, as well as the property, can really make the difference on your investment potential.
