Sparkling Seddon… a feast of Victorian-era beauties

Selecting an out-performance property takes a lot of facets into account. From cashflow considerations to capital growth drivers, quality of tenant and amenities to name a few. Diving a little deeper and looking carefully at the demographic make up, any changes in this data, and the rate of change can give way to some really exciting discoveries.

Two sensis collection dates ago (ten years to be precise), one suburb indeed showed some promise…

It was Seddon.

Seddon sits on the map in Melbourne’s inner-west, wedged cosily between Footscray and Yarraville. Home to just five thousand people and merely 6km from the CBD, it’s hidden gem status is little surprise.

Seddon is interesting for a few reasons; firstly, it surged ahead in terms of capital growth significantly in a very short space of time. According to Onthehouse, Seddon’s average total* return for houses over the last ten years has been 11.9% pa (combined growth and yield). Secondly, Seddon’s gentrification has positioned it as one of the most exciting cafe and coffee locales in Melbourne. Broadsheet and foodie sites regularly cite Seddon’s eateries and on weekends it is nearly impossible to find a car space on popular Victoria St, Gamon St or Charles St. Thirdly, and for one of my reasons for loving this quaint suburb, the architecture is broadly preserved and quite beautiful. Some of Seddon’s streets are almost completely represented by arrays of cute Victorian and Edwardian cottages; some single and some double-fronted, and lacework filigree adorns the verandahs of most. A trip down Browning Street, Tennyson St, Mackay St, or any of the gorgeous tree-lined streets running of Gamon St are a beautiful surprise.

And with station an easy walk, Yarraville just minutes by foot also, and great coffee options at every turn, it’s little wonder why Seddon attracts some fabulous quality tenants too.

Our shortlisting and selection of 70 O’Farrell St for two lovely investors was no mistake. This glorious three bedroom, renovated, open plan beauty stood out as soon as we inspected it. Offering all of the appealing features a tenant could gravitate to, we prepared for auction, conducted the building inspections and carefully set our budget.

The hammer fell for our happy investors yesterday, and with literally a one thousand bid remaining up our sleeve, the energy was palpable.

Wishing our wonderful clients years of out-performance growth and great tenants to match. We could imagine that the hardest part about owning this gem is not being able to reside in it themselves!

Picture of Common Galaxia credited to Espresso Melbourne

Illustration by Kate Bond