Coburg: The northern Melbourne village forging a sustainable path

Climate change is front of mind for many Australians — and green-seeking homebuyers are making their mark in Coburg.

Sustainability is now a key consideration for Australian homebuyers. However, when it comes to finding a home that matches these values it make the buying process difficult.

Anne Flaherty, economist at realestate.com.au, says that a recent survey from REA revealed that 80% of people consider sustainable features to be critically important or important in their buying decision process.

“We know that people are more interested in sustainable features than they were in the past,” Flaherty explains.

“That’s partly from the perspective of saving money on things like electricity bills, but people want to do their part to look after the planet too.”

Developments where the local community matches a buyer’s green sensibilities are in demand, Flaherty shares.

Coburg, a green heartland

Location remains the primary factor in where buyers choose to live, a recent REA buyer survey uncovered. ‘Living in an all-round good neighbourhood’ and ‘being in a neighbourhood you’re proud to live in’ were two of the top criteria.

For some years now, Coburg has been a top destination for homebuyers — especially people looking for a tight-knit sustainable community and sense of culture.

The local council, the City of Moreland, has made ambitious plans to achieve Zero Carbon status with 100% renewable energy target, zero emissions transport and zero waste.

Meanwhile, businesses, community groups and everyday residents in the suburb are taking action to implement these into their everyday lives.  

At the heart of Coburg is Sydney Road – a bustling retail strip with hip cafes mixed in with a melting pot of cultures and culinary options. Nearby Coburg Lake Reserve offers easy access to nature with rolling picnic-worthy grassy knolls, bike paths and a kids playground.

Accessibility is also a factor with the neraby Coburg Train Station providing easy access to the CBD, plus a local tram line and well-kept bike routes.

PropTrack data shows the median price in Coburg is $1.28 million for houses and $571,000 for units.

The combination of vibrant culture, proximity to the city and relative affordability means it’s an attractive suburb for a range of buyers, Flaherty says.

“It’s quite a well-known suburb, and that northern corridor from Brunswick right through to Coburg and beyond has seen a real uptick in demand recently,” shares Flaherty.

“It’s very attractive to owner-occupiers, but there’s also a relatively high proportion of residents who rent in the area, so there is appeal for investors.”

It also has strong capital growth prospects, says Flaherty.

“Houses have increased by 18% over the past 12 months to the end of April, and units are up 10% over that time — which is above average when compared to the whole of Melbourne.’’

An environmentally conscious community

New housing that has sustainability at its core was the driving motivation behind the design of Pace 3058, says Ashley Bramich, Pace Development Group sales and marketing director.

Pace 3058 in Coburg is the latest housing release at the old HM Pentridge Prison. Bramich says most purchasers so far are already familiar with the Coburg area and wanted their housing choice to reflect their values.

There will be a communal European-style plaza planted with citrus trees.

Bramich says Pace 3058’s commitment to sustainability is reflected not just in the 4 Green Star rating, but in the finer details, such as the microbial-diverse rooftop and balcony gardens.

“Each home has an all-electric design, LED lighting and high-efficiency air conditioning systems,” Bramich explains.

“Plus, attractive walkways and open stairwells promote incidental movement and natural ventilation for the health and wellbeing of residents.”

Its communal areas are run using 50kW of renewable energy from solar panels with shared electric vehicle charging stations and more than 530 secure bicycle parks.

A home, not just a statement

Bramich says on top of being green, Pace 3058 doesn’t compromise on desirable living.

With 312 residences, buyers have a wide option of dwelling types, from apartments to eco-friendly three-bedroom townhouses, all with open-plan layouts and earthy interiors.

Think divine quartz benchtops and terrazzo green tiles in the kitchen and bathroom. The building exterior is also elegant and considered.

There’s also a planned 25-metre lap pool, resident’s lounge and communal barbecue areas.

SJB Architects have taken inspiration from the 150-year-old gaol that formerly operated on the site, using striking masonry and beautiful blue-grey brick archways enriched with native plantings and balcony greenery.

Bramich says that one-bedroom units are attractively priced from $445,000. There has already been strong interest — especially from families — in the larger three-bedroom homes, which start from $745,000.

Additionally, he points out that the development will also be leading the way on ethical building practices with sustainable removal of 90% of building waste during construction.

Plus, until 31 July, there’s an extra incentive to start a sustainable life at Pace 3058. Buyers can choose either a $10,000 rebate on the purchase price, or $12K worth of bonus upgrades.

Interested to find out more? Enquire about Pace 3058.

Renders are courtesy of Pace Development Group and for illustrative purposes only.

The post Coburg: The northern Melbourne village forging a sustainable path appeared first on realestate.com.au.

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Coburg: The northern Melbourne village forging a sustainable path

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