May 2021 Construction Update
So much is happening at Merrifield! Here’s our latest video detailing construction progress, along with other developments across the schools, shops and industrial precincts within Merrifield. Watch it here now!
The Merrifield Community Partnerships Program is back! Applications NOW OPEN UNTIL 30 JUNE!
Do you live or work in Merrifield and want to help shape an even stronger community? Are you part of a local community group or business with an idea, project or initiative that will enhance and enrich the lives of your neighbours? Then Merrifield wants to hear from you!
The Merrifield Community Partnerships Program (MCPP) is a unique, financial support initiative for individuals, groups and businesses looking to partner with Merrifield to meet the cultural, recreational, social, and business needs of this fast-growing and vibrant community. Special consideration will also be given to projects that seek to activate the upcoming Merrifield Community Centre.
The Merrifield Community Partnerships Program has allocated over $100,000 in grants to local community programs and activities since its commencement in 2017.
Applications are now open and closes 30 June 2021 – so get your thinking caps on and think about what exciting project idea you can come up with for your community! Find out more here
Buy Not Rent: Australia’s Top Suburbs Revealed
Mickleham was recently listed as one of the best suburbs to buy instead of rent in The Urban Developer by Renee McKeown on 29 April 2021. Read the article below.
Lakeside Tacoma in NSW, the rolling hills of Waterford Park in Victoria and rural Kilcoy in Queensland are the best suburbs to buy a house instead of renting.
Despite massive increases in prices, Australians would be better off buying a house than renting in 59 per cent of suburbs in the nation. The figure jumps to 84 per cent for units, according to an REA Insight comparative report.
The top places to buy apartments are Kangy Angy on the NSW Central Coast, Frankston North in Victoria and Brisbane city, presenting opportunities for first home buyers and investors alike.
However, the impact of falling rents in Sydney and Melbourne means it is cheaper to rent 70 per cent of houses and 40 per cent of units in those cities.
The best suburbs for renting included some of the country’s most expensive suburbs—Vaucluse in Sydney, Toorak in Melbourne and Teneriffe in Brisbane.
Best suburbs to buy instead of rent
| Greater Sydney | Houses | Units |
|---|---|---|
| 1 | Tacoma | Kangy Angy |
| 2 | Rocky Point | Stanhope Gardens |
| 3 | Warragamba | Vineyard |
| 4 | Hamlyn Terrace | Warragamba |
| 5 | Warnervale | Banksmeadow |
| Greater Melbourne | Houses | Units |
|---|---|---|
| 1 | Waterford Park | Frankston North |
| 2 | Rockbank | Bangholme |
| 3 | Mickleham | Williams Landing |
| 4 | Millgrove | Woori Yallock |
| 5 | Wollert | Burnside Heights |
| Greater Brisbane | Houses | Units |
|---|---|---|
| 1 | Kilcoy | Brisbane City |
| 2 | Lockrose | Wooloongabba |
| 3 | Waterford | Kangaroo Point |
| 4 | Toogoolawah | Eight Mile Plains |
| 5 | Logan Reserve | Dutton Park |
^Source: REA Insights Buy or Rent Report
The report also revealed that more than half of the nation’s homes will be cheaper to buy than rent during the next 10 years, at current prices.
REA group economist Paul Ryan said buyers were taking advantage of market conditions.
“Many regions have hit all-time price records so it’s understandable that many people would be surprised to hear that it’s still more affordable to buy in more places than to rent,” Ryan said.
“This research shows that much of the increase in demand we have seen in late 2020 and early 2021 has been driven by exceptionally low borrowing costs.”
The report’s author said this was also an opportunity for investors to pick up more properties, particularly apartments where price growth was weaker.
“Investors are driven by the same comparison between prices and rents, so the finding that so many units in particular are cheaper to buy suggests there may be profitable investments currently available,” Ryan said.
“On this basis, we expect investor activity in the housing market to increase through 2021.”