What exactly defines a "desirable" suburb? I frequently encounter this question during open homes, especially when discussing the unique appeal of East Melbourne.

While individual preferences may vary significantly, I often find myself highlighting what other suburbs lack to underscore the distinctive qualities of a particular area.

Earlier this week, at a charming property located at 55 Gipps Street in East Melbourne, I guided a prospective renter through this elegant period home. Our conversation naturally drifted towards what sets East Melbourne apart. I noted, "East Melbourne is like Toorak but without the congestion of cars and schools." We shared a laugh, but the conversation wasn’t just about the gag; it was about understanding the substantial return on investment East Melbourne offers—something critically important for both purchasers and renters looking for a new home.

According to REA reports, East Melbourne has seen a commendable 3% growth in house prices and a 2% increase in unit prices over the past four years. This steady growth, even amidst the uncertainties and volatility of the pandemic, reassures potential buyers and renters about the stability and attractiveness of the real estate market in East Melbourne.

Sometimes, one or two unique factors are enough to make someone decide to purchase or rent in a specific suburb. However, it is often the combination of multiple elements that solidifies a suburb’s desirability. East Melbourne embodies such a blend, making it a top choice for many looking to invest in a lasting and valuable property.