Do You Know Melbourne Suburbs?

Our Quirky Suburbs

When it comes to knowing our city, most people will be able to tell you that Melbourne has the largest Greek-speaking population outside of Greece, but would they know we are the fox capital of the world? Yes, according to the RSPCA, there are 6 – 23 foxes within every square kilometre of the metropolitan area. Melbourne and its suburbs have a long and sometimes quirky history – how many of these do you know?

While we are used to the streets and roads of our suburbs, it wasn’t always that way. Bonbeach was once the site of a sand quarry and was key to the glass manufacturing industry of the 1940s. Meanwhile at the same time, there was a quarry in Niddrie. Basalt was quarried here and this wound up in all the roads that were needed as our city spread out. It’s hard to imagine now, but over in North Balwyn in the 1860s, there was a quartz reef where gold mining took place.

Melbourne suburbs have their fair share of firsts. In 1854, Australia’s first steam train started regular services between Port Melbourne and Flinders Street. The first Australian drive-in was opened in Burwood in 1954 and Oakleigh welcomed the first 7-Eleven store in 1977. While not generally associated with technological innovation, Frankston had a world first in 2011 when it created a community driven YouTube channel, which highlighted the stories of the suburbs residents.

Next time you are stuck behind a tram in Sydney Road Brunswick, say a silent thank you (or curse!) to the property owners of the 1840s. That’s because they were responsible for the division of land that left Sydney road only 20 metres wide.

Frankston Cafés

The suburb of Frankston began life as a fishing village providing early Melbourne with delicious food and it’s great to know that Frankston still does this, except now it’s in the great cafés that dot Frankston streets. Here’s a few of our favourites…

Eeny Meeny Café, 96 Young St, Frankston

A great all day menu is the starting point at this café, but don’t ignore the weekly specials board because often that’s where the magic is! Over the time we’ve been visiting Eeny Meeny there’s been lots of little changes to décor & furniture and colour and this is also reflected in their food. These guys don’t like sitting still and are always up for change. What doesn’t change though is the quality. There’s a vintage theme to the place with LP’s (try explaining them to your kids) on the wall and the board has some classic dad jokes to give you a smile in your day (e.g. If you suck at playing the trumpet that’s probably why). The other thing which will bring a smile is their service. Highly recommended local café!

Olive & Fern Café, 435 Nepean Hwy, Frankston

One of our breakfast stops, you can’t go past the Olive & Fern omelette – very tasty! Whatever your taste though there will be something on the menu for you, whether you’re there for breakfast or lunch. The staff are super helpful and if you have a specific diet – vegan, for example – don’t be afraid to ask for a change to a menu item. The coffee is especially good if that is your fancy, we often pop in for a mid-morning break when we are in Frankston and staff are as friendly then as when we are ordering meals. Décor is bright and modern – all round a great local café.

One Pear Tree, 372 Nepean Hwy, Frankston

One look at the One Pear Tree menu will convince you this is not your average suburban caf. Sometimes that can be a risk, but not in this case. Try a sakshuka instead of your standard eggs benny, you won’t be sorry. Likewise, if you’re a sweet tooth, the Violet Waffles are awesome! The café itself is charming, set in an old house and with an outdoor are for the nicer weather and an open fire for winter months. The coffee is made with a smile (say hi to Fi, the barista) and served the same way. A great food experience whether you are there for breakfast and lunch (they also do specials for dinner – we are yet to try them out!); another highly recommended café experience.

Property Investment

Property investment continues to be in the news and across social media and despite a shifting market there is still interest in this type of investment. Historically it is one way of creating a secure financial future – and here’s some of the reasons why.

A property is a solid asset, one you can look at and make improvements to. Unlike shares, a property doesn’t just exist in an account somewhere or on a piece of paper. You can stand in the middle of your property and know it is yours. And once you have one property and it is tenanted and paying its way, you can use the equity you create in one property to help you obtain another property. A lender will have more confidence in a borrower with a tangible property asset than with a share portfolio.

Once you have a property investment you also have the tax advantages that are given to owners of rental properties through negative gearing. Expenses the property incurs can be written off against your personal taxation. This can make the end of financial year less daunting but also in the long term, provide depreciation benefits.

We all have dreams for our children and want them to be secure. An investment property is one way in which we can help them to get started in the property market. A property purchased when your children are in primary school will be a considerable asset to assist them by the time they are ready to purchase their first property.

If you are considering a move to invest in property, Accrue Real Estate are here to help you. Our years of experience and knowledge of the Melbourne property market can help set you on the path to successful property investment.

Interested in Real Estate Investment

Interested in real estate investment? You’re not alone. Thousands of people every year help secure their financial future through an investment in real estate and proudly, at Accrue Real Estate, we can say we have helped many people along their way to achieving this goal.

Here’s a couple of ways you can become a property investor without too much stress.

SMSF (Self-managed Superannuation Fund)

This method of investing has become increasingly popular as the baby-boomer generation approaches retirement and they are not only a great means of investment but a way to really control the money you have in your superannuation account.  A SMSF allows you to make investments using your existing super – one of the key investments made within an SMSF is generally a property.

There are legal requirements to setting up a Self-managed Superannuation Fund but once established you are the trustee (or, in the case of a corporate trustee, the director), and as such are able to control how the money within the fund is used. This allows you to choose a property, manage any rental income and, if the time is right, sell the property.

If set up correctly, and in some circumstances, you can even use the money within the SMSF to borrow additional funds for the purchase of a property.

As with all your superannuation needs, it pays to get professional advice from someone who can look at your personal situation and offer advice as to the most appropriate fund for you.

Rental property

Buying a property and then renting it out is the most popular form of property investment, probably because, once set up, your tenant is effectively helping you to pay off your mortgage. As well, you have acquired an asset that, going by past markets, is likely to double in value across a ten year period.

This form of investment requires set-up funding for deposit and the associated costs of purchasing a house, as well as some sort of slush fund for emergencies (e.g. repairs).

Starting out can seem a difficult thing to do – and investment requires doing the groundwork on the best areas for rental yield and appreciation. That’s where Accrue Real Estate can assist. We have years of experience on the Melbourne property market and can help you realise yur property investment dreams.

Point Cook Cafés

Point Cook is one of our favourite places for a day out, it has great parks and the location provides great views of Melbourne’s bay. Plus, there’s some great lunch spots to enjoy…

Gemelli Cafe Grill, 123/22-30 Wallace Ave, Point Cook

The food at Gemelli will keep you coming back, especially if you are a fan of a burger. Gemelli’s is all about fresh and the best produce it can source and this really shines through in their burger menu. The Sustainable Seafood is one of our favourites but for the more adventurous, try the Oinking Hot Clunker. There’s also a vegetarian burger available. If burgers aren’t your menu item of choice, there’s also a range of other dishes that will delight, whether you have a hearty or small appetite. The service is always wonderful, efficient and with a smile.

Alamanda Cafe and Providore, 2-10 Paradise Parade, Point Cook

Located within Club Alamanda, this modern café works at creating a friendly atmosphere but doesn’t forget to make sure the food is also excellent. Kid-friendly (books, pencils and colouring books sit on a shelf they can access) this is a great spot whatever the weather but if you do get a nice day make sure you take the time to wander around the pond area.     

Waterstone Café, 72 Greg Norman Dr, Point Cook

One of our real favourites, the Waterstone not only boasts great views across the lake, but serves up quality food at reasonable prices and with great service. Vince and Sam are always welcoming and accommodating and will make recommendations if needed. The menu has a great range of small and large fare, all of which is delicious.

Property Update

The Australian property market has seen a downturn over the past 18 months, the biggest since the 1980s. However, this downturn looks to be over in Melbourne with figures released last week showing a rise in the prices of both houses and units.

According to Domain’s House Price Report for the June quarter the median price for a house in Melbourne over the June quarter was $818,237, a rise of 0.3 per cent. For the same period, the price of a unit was %501,009, a rise of 2 per cent.

Domain economist Trent Wiltshire believes there will be modest growth for next few quarters but that there “is a clear sign that the market in Melbourne has bottomed out”.

As with all ‘medians’, there are differences across different suburbs; house prices in the inner east (around the suburbs of Kew & Balwyn) and the north-east region (including Whittlesea) saw a fall. The unit market was more consistent, with only the north-west area falling.

Since the election result in May, there has been more interest in the property market, with sentiment more positive and higher attendance at ‘open-for-inspections’. Auction clearance rates are also at their highest point for 18 months. Add to this the lowest interest rates we have ever seen and you can see why buyers and investors are returning to the market. There is also a strong positive feeling as we head toward the spring property market, traditionally a time for high sales numbers.

If you are considering investment in real estate as an option to secure your financial future, Accrue Real Estate have the experience to help you get there.

Moorabbin Restaurants

The best thing about being a foodie in Melbourne is that every suburb has at least one great restaurant and Moorabbin is no exception. These are just a few of our favourite places to get a meal when we head to St Kilda territory.

  • Mirchi Tadka Restaurant, 364 South Rd, Moorabbin

As far as Indian food goes, you are getting the best at Mirchi Tadka; the food is always fresh and flavoursome. We can highly recommend the chicken tikka masala, one of the many gluten free options on the menu. Mirchi also has a great range of vegetarian dishes and if you favour a curry then this is the place for you. Best of all, the service always comes with a smile

  • Big Pig Little Pig, 35 Ebden St, Moorabbin

With its Southern American style cooking, Big Pig is a real drawcard for Moorabbin – we’ve heard of people travelling all the way from Coburg just to get one of their burgers. And if you love meat – especially slow cooked meat – you’ll travel too, because the Big Pig does meat well, very well. A sharing platter is great with friends or family or just put together your own meaty heaven from the menu. There’s also vegetarian options and salads – in short, something for everyone.

  • Asiatte, 484 South Rd, Moorabbin

Casual dining at its best, Asiatte serves a range of Korean & Japanese cuisines, all tasty and reasonably priced. If you’re looking for a meal on the go, try one of the Bento boxes. Our go to dish is the fried chicken – everyone we introduce to this dish absolutely raves about it. As far as Asian food, this is one of the most reasonably priced places we’ve found.

Melbourne Suburb Names

For the past few years, Melbourne has had extraordinary growth and now ranks next to the world’s fastest growing cities. That means the city will spread further adding new suburbs as it grows. Each of these suburbs will require naming – just as the suburbs we live in and know so well did. But do you know how your suburb got its name? Here’s the story of some of Melbourne’s existing suburbs.

While many of Melbourne’s suburbs have definitive reasons for their names, others origins are not as clear. Brunswick may be named for Princess Caroline of Brunswick, the estranged wife of King George IV, or it may have taken its name from the man in charge of the mounted military police in Port Phillip in 1839, Captain George Brunswick Smyth. Essendon is probably named for Essendon in Hertfordshire, England and neighbouring Niddrie may be named after a castle in Scotland (Niddry) or an Edinburgh suburb.

Moonee Ponds, or traditionally Moonee Moonee Ponds, could be from the Aboriginal word for lizard and Moorabbin is said to mean “woman’s milk”. Werribee comes from “Weariby” which means spine or backbone, but the area was named Arndell, then Exe before it finally became Werribee in 1840.

A number of Melbourne’s suburbs take their names from other places in the world. Altona is also village on the River Elbe in Germany and Heidelberg was named by a land agent claiming it resembled the German area of its namesake. Mentone was named for the French resort near Nice and Seaford dropped the ‘l’ from Sleaford, home town of one of the councillors.

Then there are those suburbs named for people. Coburg, originally named for Pentridge prison, was named for the Duke of Edinburgh who was also Duke of Saxe Coburg and Gotha. The Earl of Mornington gave his name to our seaside suburb, Pascoe Vale (originally Pascoeville) was for John Pascoe Fawkner, the second suburb to bear his name. Point Cook was named for a navy man, but not the one you would expect. It took its name (after dropping an ‘e’) from Lieutenant John Murray Cooke who came to Port Phillip Bay in 1837 on HMS Rattlesnake.

Altona Cafés

Altona is close to the Melbourne CBD and is a suburb that provides access to facilities to support lifestyle and family. Part of the life style facilities have to be the great cafés – these are a few of our favourites in the suburb.

Bezirk

Bezirk is located right next to the beach, but it has a lot more going for it than that. A reasonably priced menu is backed up by friendly service. The décor gives off a warm feeling, especially the mural and exposed brick and there’s a courtyard out back for the nicer weather. For lunch, our go to item is the Beef Burger – just love the aioli that comes with the chips. All your breaky favourites are on the menu which caters for all dietary preferences – the vegetarian fritters will delight all tastes!

Birdcage

Given its proximity to the station, it’s no wonder this little gem is a popular spot for breakfast or a takeaway coffee. If you have time though, Birdcage is a great spot to sit and enjoy a coffee or meal. If you’re there for breakfast, try The Big Birdcage, the chorizo is delicious. The staff here are friendly and helpful; there is rarely a long wait on service. If you are a dog owner, the Birdcage is dog friendly and has water bowls for your furry friend.

Rockabye Candy

This café is a must not only for coffee lovers but for those who love a bit of creativity in their food. The menu has old favourites but do yourself a favour and try one of their specialties – the roasted mushroom and saganaki is my personal favourite but I also hear very good things about the Chilli Scrambler. Staff at Rockabye are friendly & very, very efficient; they are always happy to make recommendations.

Becoming a Property Investor

Property investment is still an attractive way to secure a financial future and for those that want to get started, here’s some great tips.

Establish your financial safety net

One of the key things about investing in property is having a financial safety net for the unexpected expenses that sometimes can occur. Most investment properties are rented out and this brings with it a range of possible issues that could require an injection of cash. Money will be needed if the hot water system goes or roof tiles need replacement. If the property is untenanted for a month or so, extra money will be needed to cover repayments. Having established your financial safety net beforehand will alleviate issues with this and help make the investment process less stressful.

Know the risks

Knowledge is power, so they say, and this certainly is the case with property investment. It is also important to know that there are risks involved. These can be mitigated by ensuring you have done due diligence on the areas in which you are looking to invest but no one has a crystal ball, especially when it comes to the property market.

Get your timing right

Is there ever a perfect time for anything? Perhaps not, but you can make sure that everything is in place before you invest. If you are already paying off other high interest loans or have high credit card debt, perhaps working to lessen these first would be a better idea financially.

Know that there’s help

Accrue Real Estate have helped hundreds of Melburnians take their first step of the property market. They have the data on which are the best suburbs for investment and they have access to financial advisors who look at your personal situation to help you realise your investment goals and dreams.