Northern Suburbs Predicted to Boom
Our latest project, YarraBend, is part of a 2500 home development in Alphington, which, coupled with the Chandler Highway road widening project will change the face of Melbourne’s Northern Suburbs. We believe this will see a boom in property prices in these areas.
Suburbs North of the Yarra are currently under-valued considering their close distance to the CBD – in particular Alphington and Fairfield. YarraBend opens up a huge parcel of river front land that was previously industrial and inaccessible, bringing world-class amenity to a subsequently underserviced pocket of Melbourne. Bordering the YarraBend site, the Chandler Highway is a momentous transportation link between the northern growth areas of Melbourne and the inner eastern suburbs. Notoriously disliked by Melbournian’s who get stuck in a gridlock during peak hours of the day, the Victorian government have recently committed to multi-million dollar infrastructure upgrade. Not only will this project dramatically enhance the flow of traffic between the Northern Suburbs and the Inner Eastern Suburbs of Melbourne, it, together with the YarraBend development, is likely to increase the demand and subsequent prices for property in the Northern Suburbs.
Narrow and exceeding its capacity daily, Chandler Highway becomes incredibly congested as it reduces to just one lane each way at the bridge over the Yarra River. The Victorian Government’s road widening project will see the highway expand to six lanes and a new bridge built over the Yarra River. The existing bridge will become a much needed pedestrian and cyclist bridge only, an extremely attractive resource for residents within YarraBend and beyond, as access to YarraBend Park will be not be intercepted by large intersections or traffic lights. The proposed plans highlight a walkway that leads pedestrians directly off the existing bridge underneath the future highway, straight into YarraBend Park. This inclusion will allow parents to send their kids freely into the park or nearby trails without having to worry about safety.
Construction of the new bridge and Chandler Highway road widening is expected to begin in mid-2017 and be completed by late 2018. YarraBend is also set to release new apartments and townhouses in mid-2017, with with demand for quality 1, 2 & 3 bedroom apartments evident from the ever increasing enquiry levels. The YarraBend team is currently working with leading architects DKO on designing our first apartment tower which will have exceptional district views over the Yarra River as well as city skyline views. To receive more information, register your interest via our website www.yarrabend.com.au.