If you've been living in Carnegie real estate, you might be aware of recent rezoning happening around the area. But what does it mean for residents and what can you expect to see over the next year or so?
A great way to get an insight into these coming changes is to take it from an expert.
Matt Hurlston is the managing director of Ray White Carnegie, one of top ten businesses in the Ray White Group in Victoria and Tasmania. He manages an experienced team of 27 staff and has worked in the area for 17 years, making his brain an ideal one to pick at all things Carnegie-related.
We've sat with him to have a chat about Carnegie and about the recent rezoning development that's been occurring in the suburb.
Carnegie has easy access to local amenities with a great range of shopping and restaurants. It's good for families, with an excellent selection of schooling for all ages nearby like Carnegie Primary, McKinnon Secondary and even Monash University. Kids can move into the area as a baby and progress all the way into tertiary education close to home.
There's also a terrific range of parks like the Duncan MacKinnon Reserve, Murrumbeena Park, not to mention the new Aquatic centre called GESAC in Bentleigh East.
It has quick access to the CBD with an easy commute into the city by train, tram and even car via the Monash freeway.
The main rezoning changes are happening around the activity centres and will allow up to five levels of residential development. As a result, what was once housing blocks supporting a few households can now accommodate apartments with dozens of families living inside.
Prices of homes, especially single houses have jumped. This is because they're very valuable to developers; the size and space of the land they're on can be utilised for high density developments. They might buy three homes together, knock them down and replace them with 40 apartments.
There's been a mixed reaction.
Some local people feel like it's eroding the quiet peaceful streets with period-style homes that are now being lined with high density developments. People who once had two neighbours may suddenly have 40 in the space of 12 months. There will also be more congestion in the region.
On the other hand, it's bringing a lot of local and international investment into the marketplace. This is because they can buy brand new homes at a very good location that's being serviced by a great deal of amenities like schools, parks and restaurants, as mentioned before.
This rezoning will do plenty to support local businesses. It'll also provides more affordable housing and give people more opportunity to buy into Carnegie.
With so many exciting developments happening in Carnegie, you might feel like it's your time to settle into this great suburb. Just speak with Matt Hurlston and the team at Ray White Carnegie to see what great real estate there is on offer.