Whether you’re drawn to the charm of Melbourne’s inner west or looking for an up-and-coming suburb with real potential, Spotswood is a name you’ll hear more and more often. Nestled just a stone’s throw from the CBD, Spotswood in Melbourne, Victoria, has become a popular choice for both homebuyers and renters seeking a mix of convenience, culture, and community.
If you’re considering making a move, you might be wondering what makes more sense for your lifestyle and goals: leasing or buying in Spotswood. In this guide, we’ll break down both options, exploring the benefits, challenges, and current trends shaping the property market in Spotswood, Melbourne, so you can make the choice that’s right for you.
Residential Leasing in Spotswood VIC 3015
Spotswood, located just 7 km southwest of Melbourne’s CBD, is a vibrant suburb that blends industrial heritage with modern living. Its proximity to the city, coupled with a strong community feel, makes it an attractive location for renters seeking both convenience and character.
Spotswood’s charm lies in its blend of old and new. The suburb boasts a range of amenities, including parks, cafes, and the renowned Scienceworks museum. Its excellent transport links, with easy access to trains and major roads, make commuting straightforward. The ongoing development in the area suggests a positive outlook for both renters and investors.
Median Weekly Rent in Spotswood
- Houses: The median weekly rent for houses in Spotswood is $790, reflecting a significant 27.4% increase over the past 12 months.
- Units: Units have a median weekly rent of $595, marking a 23% rise in the same period.
Rental Yield in Spotswood
- Houses: 3.8%
- Units: 4.6%
Rental Demand in Spotswood
Despite the rise in rental prices, demand has shown a slight decrease.
- Units: Rental demand decreased by 14% over the past year.
- Houses: The median time on the market for rental houses is 23 days, indicating a relatively quick turnover.
Rental Prices in Spotswood by Property Size
Houses:
- 2-Bedroom: Median rent is $600 per week, with an 8.1% increase over the past year.
- 3-Bedroom: Median rent is $790 per week, experiencing a 31.7% rise.
- 4-Bedroom: Median rent is $875 per week, noting a 6.7% decrease.
Units:
- 1-Bedroom: Median rent is $478 per week.
- 2-Bedroom: Median rent is $595 per week.
- 3-Bedroom: Median rent is $663 per week.
Spotswood Commercial Leasing Market Overview
Spotswood real estate is gaining recognition for its diverse commercial offerings. Once a predominantly industrial suburb, it now boasts a dynamic mix of retail, office, and warehouse spaces. With excellent transport connections and ongoing urban revitalisation, Spotswood presents compelling opportunities for business owners and investors alike.
Current Commercial Listings in Spotswood
The number of commercial properties available for lease in Spotswood varies from month to month, reflecting changes in the local market.
Average Rental Rates
- Retail Spaces: approx. $4,369/m² p.a.
- Office Spaces: approx. $4,257/m² p.a.
- Industrial/Warehouse: approx. $6,648/m² p.a.
Rental Yields
- Retail Properties: approx. 5.11%
- Industrial Properties: approx. 11.31%
These figures reflect the strength of Spotswood real estate in terms of value and potential return on investment in the commercial sector.
Leasing Trends & Demand In Spotswood
- The blend of industrial heritage and new development has created high demand, particularly in the warehouse and logistics space.
With its evolving landscape, Spotswood real estate is becoming a strategic choice for businesses looking to establish a presence in Melbourne’s inner west.
Why Choose Spotswood for Commercial Leasing?
- Strategic Access: The area is connected to major arterial roads, including the Westgate Freeway, and is well-served by freight corridors, making it ideal for businesses needing efficient transport links.
- Community Growth: Increased foot traffic in the area, fueled by nearby retail, education, and tourism spots like the Scienceworks Museum, boosts local business opportunities.
- Investment Potential: The active leasing market with competitive rental yields indicates strong returns for investors in the area.
- Local Amenities: Spotswood offers a blend of green spaces, local cafes, and essential services, creating a balanced environment for both business owners and their employees.
Whether you’re launching a retail brand, setting up offices, or expanding industrial operations, Spotswood real estate offers a diverse range of commercial leasing options backed by robust infrastructure, strategic location, and consistent demand.
Need help navigating the market or finding the right commercial space? Feel free to contact JAS Stephens.
Residential Buying in Spotswood, VIC 3015 – A Comprehensive Overview
Spotswood Real Estate Market Overview:
Spotswood Real Estate has been experiencing a steady surge in demand due to its strategic location, increasing urban renewal, and proximity to key Melbourne landmarks. Once primarily industrial, Spotswood has evolved into a dynamic and highly sought-after residential area. The blend of convenience, a growing community, and attractive housing options makes it an ideal location for those looking to buy a home in Melbourne’s inner west.
Median House Price: The median house price in Spotswood has seen a consistent upward trend, reaching approximately $1,230,000. This price reflects the suburb’s increasing appeal, driven by its proximity to the city, vibrant community, and the ongoing development of surrounding areas.
Median Unit Price: For those seeking more affordable options, the median unit price in Spotswood is around $560,000, catering to investors, downsizers, and first-home buyers.
Annual Growth: Over the past five years, Spotswood has experienced a solid growth rate in property values, averaging around 5% annually. This has solidified Spotswood real estate as a competitive market for residential buyers seeking both long-term investment potential and lifestyle benefits.
Why Buy Property Spotswood?
- Proximity to Melbourne CBD: Located just 7 km from the city centre, Spotswood real estate offers excellent connectivity to Melbourne’s key business and entertainment districts. The Westgate Freeway and public transport options, including Spotswood Station, provide easy access to the CBD and beyond.
- Community and Lifestyle: With a combination of parks, cafes, local shops, and proximity to major shopping hubs, Spotswood provides a perfect balance of suburban tranquillity and urban convenience. Plus, the famous Scienceworks Museum is just around the corner, making it a popular choice for families.
- Future Growth Potential: Ongoing infrastructure projects and urban renewal in nearby suburbs like Yarraville and Newport are expected to further enhance the value of Spotswood real estate in the coming years. This makes it an ideal location for long-term investment, especially for those seeking capital appreciation.
- Attractive for Families and Professionals: The blend of spacious homes, easy access to public transport, and local amenities makes Spotswood an appealing choice for both young families and professionals.
Market Trends and Insights on Buying Property in Spotswood
- High Potential for Capital Growth: Spotswood continues to show strong demand for residential properties, with both houses and units offering solid prospects for capital appreciation. The area’s blend of suburban charm and proximity to Melbourne’s CBD makes it an attractive choice for long-term property buyers.
- Demand for Houses and Units: The demand for houses in Spotswood remains high as more buyers seek larger family homes in a suburban environment. At the same time, apartments and units provide an appealing alternative for first-time homebuyers and investors, offering more affordable entry points into the market. This demand indicates healthy growth for both types of residential properties.
- Investment Opportunities: While the rental yield in Spotswood remains strong in industrial and commercial sectors, residential properties also show favourable returns. The growing popularity of the area, combined with infrastructure improvements, positions Spotswood as a promising location for buyers looking for strong returns and future value.
Buyer and Seller Resources – JAS Stephens Real Estate
At JAS Stephens, we understand that buying or selling a property can be both exciting and overwhelming. Whether you’re a first-time buyer, a seasoned investor, or looking to sell your home, our expert team is here to guide you every step of the way. Below, we’ve compiled some essential resources to help make your property journey as smooth and successful as possible.
For Buyers:
1. Property Search:
- Start your property search by exploring our comprehensive listings of homes and commercial properties in Spotswood and beyond. Our website provides up-to-date details on new listings, including pricing, floor plans, and property features, so you can find your dream property with ease.
- Visit our property listings to get started.
2. Financing Your Property:
- Understanding your financing options is crucial when buying a property. We recommend speaking with one of our trusted mortgage brokers who can help you navigate the various loan products available, find the best rates, and provide you with a pre-approval to streamline the buying process.
3. Buyer’s Guide:
- For first-time buyers, our blog offers helpful guidance throughout the property journey from making an offer to securing finance and finalising the transaction. We regularly publish expert tips, step-by-step advice, and insights on what to look for in a home to help you make confident, informed decisions.
4. Inspecting Properties:
- Once you’ve found a property you’re interested in, it’s time to inspect it. Our team can arrange private viewings or walk you through upcoming open inspections. During your inspection, we’ll also provide you with an in-depth market analysis to ensure you make an informed decision.
5. Making an Offer:
When you’re ready to make an offer, our expert agents will help you craft a competitive bid. Whether it’s a private sale or an auction, we’ll guide you through the negotiation process to ensure you get the best possible deal.
JAS Stephens’ Services for Sellers:
1. Property Appraisal:
- Accurate pricing is essential for a successful sale. We offer free property appraisals that take into account current market conditions, comparable sales, and the unique characteristics of your home or commercial space in Spotswood real estate.
- Book your property appraisal with us today.
2. Marketing Your Property:
- Our team will design a tailored marketing strategy for your property, including professional photography, 3D virtual tours, and prominent listings on major real estate platforms. We’ll ensure your property gets maximum exposure to attract potential buyers.
3. Preparing Your Property for Sale:
- First impressions matter. We provide expert advice on how to present your property to potential buyers. From simple fixes to full staging services, our team will help you highlight your property’s best features.
- Staging Services: Our recommended home staging experts can help showcase your home in its best light.
4. Negotiating the Best Price:
- Our experienced agents are skilled negotiators who will work to secure the highest possible price for your property. We’ll keep you informed at every step of the process, from offers to contracts, ensuring you’re confident in your decision to sell.
5. Closing the Deal:
- Once an offer has been accepted, our team will assist in managing the final sale process. We’ll liaise with solicitors and conveyancers and ensure all legalities are handled smoothly so you can move on to your next chapter with ease.
Conclusion: Why Spotswood VIC Is Worth Your Attention
Whether you’re exploring Spotswood, VIC, for its vibrant community, proximity to the Melbourne CBD, or promising investment potential, it’s clear that this inner west suburb is on the rise. From diverse residential options to a thriving commercial real estate scene, Spotswood offers something for everyone, first-time buyers, seasoned investors, renters, and business owners alike.
As the demand continues to grow, so does the importance of having the right guidance. At JAS Stephens, we’re proud to offer expert insight and personalised service across every stage of your property journey. With deep knowledge of the Spotswood real estate market and the broader Melbourne area, we’re here to help you make informed, confident decisions whether you’re buying, leasing, or selling.
Looking to take the next step in Spotswood? Contact our team today and discover how we can help you unlock the suburb’s full potential.
Resources:
- Infolio – The Hobson, Realestate.com.au, RealCommercial, Commercial Property Guide, Compound Invest, Domain, CoreLogic, Source: RealCommercial