Abbotsford Property Market

Originally an industrial suburb, the suburb was popular with blue-collar Irish factory workers. Since then, the Greeks, Italians, Africans, Chinese and Vietnamese have built up communities in the area.

Depending on who you ask, Abbotsford most “prized” building is the massive Carlton & United Breweries brewery.  However Dights Falls, the Collingwood Childrens Farm and the Abbotford Convent Arts Precinct are also popular hang-outs.

Collingwood Football Club players train, but do not play at the Victoria Park oval, at the northern tip of the suburb.

Abbotsford has two train stations run through it – Collingwood, and Victoria Park – which are a respective four, and five stops from Flinders Street station. They are accessed by either the Hurstbridge or Epping lines.

Trams also run along Victoria Street.

According to the Australian Bureau of Statistics 2006 Census, 58.1 per cent of Abbotsford residents are aged between 25 and 54. This compares to the national metropolitan average of 42.2 per cent.
The average Abbotsford resident age is 35, slightly lower than the national average which is 37.

Almost 40 per cent of Abbotsford residents are classified as Professional by the ABS. This compares to the national metropolitan average of just 19.8 per cent.

Abbotsford is mostly filled with single and double-storey terraces, however there is an increasing number of residential conversions from former factories and office buildings. The suburb has had its fair share of medium density development, with apartments of all ages littered all through the suburb.

The biggest residential redevelopment underway in Abbotsford at the moment is the former Denton Mills hat factory, which is being turned into apartments.

At entry level, expect to pay about $210,000 for an unrenovated 1-bedroom apartment in one of the tree-lined streets like Charles, or Nicholson Streets. Small terrace homes seem to start at about $500,000.

According to the REIV, Abbotsford has a median house value (September 2007) of $623,000, however because less than 30 sales were recorded for the quarter, that figure is considered statistically unreliable.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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