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Only 2km from the CBD, Fitzroy is one of Melbourne’s most sought-after suburbs and considered by many to be its creative hub. Home to artists and musicians, Fitzroy beautifully combines the old with the new and holds an unpretentious approach to all things. A mix of residential and retail - and a popular spot for city workers - this is a neighbourhood in constant motion and ideal for Melbourne investment properties.
Fitzroy’s pedestrian-friendly streets are a testament to the proliferation of green-minded locals; with fewer car owners than many other inner-city suburbs. In any event, it’s the place to be seen on any given weekend - and it’s difficult to be seen when you’re in a car.
This youthful suburb is filled with young professionals and plenty of independent imaginative thinkers. From its rough and ready past, Fitzroy has matured into a place where young families rub shoulders with the older characters - who are always willing to share a story or two. Fitzroy holds a unique opportunity for inner-city property investors with a rental market ranging from younger to older families as well as young professionals.
Similar to its Collingwood neighbour, Fitzroy has undergone increased gentrification over the past decade. Despite this, the suburb has maintained its alternative edge thanks to the swag of art galleries, artist studios and cool bars filled with all manner of creative types.
With a new must-visit hangout popping up almost daily, the heart of Fitzroy’s action between Brunswick and Smith Streets is home to cool eateries, award-winning restaurants and boutique vintage stores. There’s also plenty of eclectic brick and bluestone architecture sprawling with stunning murals. Live music thrives, beer gardens buzz and whatever your creative outlet, there’s a venue or shared space waiting for you.
Thanks to its location and an enviable lifestyle-rich vibe, Fitzroy remains one of Melbourne’s strongest rental markets for apartments, townhomes and townhouses. A 2 bedroom apartment will cost around $680k with a rental return of around $590 p/w.