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Young people and families priced out of nearby areas are now joining Preston’s longstanding Greek and Italian residents. Photo: Wayne Taylor “Shops that were closed are now cafes, bookshops and barbers, and the more industrial businesses have moved out of Preston to Reservoir where the land is cheaper,” Sacco says. He says recent http://homeloandiva.com/straightforward-guidance-on-handy-mortgage-broker-melbourne-plans/ buyers to the area have helped develop a greater sense of community atmosphere. “Young families are moving in for the same reason why it became first populated in the ’50s and ’60s – because it’s affordable. It’s a real mixture and more of a community now,” Sacco says. Cafes, bookshops and barbers are bringing a new vibrancy to Preston. Photo: Supplied In the western suburbs, Footscray (five kilometres from the CBD) is leading the way in terms of cultural and demographic changes, with a variety of housing options available. In his 24 years working in the inner-west, director of Jas Stephens , Craig Stephens , says the price growth in the area over the past three to five years has been most significant. The median house price is now $757,000, up from $550,000 in 2014. “We’re now seeing homes breaking the $1 million mark, with renovated homes going for up to $2 million,” Stephens says. Footscray is leading the way in terms of cultural and demographic changes.
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