The end of affordability in Brunswick continues with the sale over the weekend of its first ever million dollar apartment sale. 309/1-3 Dods Street might have gained high attention from its prominent use as a set for the television show “Offspring”, but it also captured the imagination of the buying public thanks to its nice interiors, expansive Brunswick views and natural light.
In recent times Brunswick has been the prized suburb for artists, creative types, drug addicts and all round strugglers. The emergence of the suburb and trendiness has caused many to look further out to areas such as Coburg and westwards towards Footscray.
Up and coming suburbs tend to move through price gradients that determine the residents of tomorrow. Brunswick has moved past the easily affordable price points and is now capturing the yuppie demographic that are enjoying the labour of those who came before them. Brunswick has been living off a reputation as an affordable suburb; however, sales like the above demonstrate the death of affordability in Brunswick.
There is only one way around high prices in growth areas: get down in the mud and do some work…