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Just in case you missed the recent announcement, banking regulator Australian Prudential Regulation Authority (APRA) has removed a key constraint on borrowing limits by lowering the benchmark affordability test rate.

Burke Road, Camberwell
"We've got it all"

Burke Road Camberwell has long been regarded as one of Melbourne’s premier shopping strips  located at the intersections of Camberwell, Riversdale and Burke Roads, popularly known as “The Junction”. This area has significant public car parking available and is ideally serviced by public transport with the centrally located Camberwell railway station and trams in Burke and Riversdale Roads.

The suburb of Camberwell, which recently annexed part of what was known as Burwood, has an approximate population of 24,559 residents with an average age of 41 years and a median house price of $1.955 million.

Many long standing brand names are located here and rents have often been the highest paid by tenants outside of the Melbourne CBD or a major retail centre. This is reflective of the strength of the location and the fact that suburban shopping centres are not located nearby.

According to the Camberwell Centre Association’s website:

There are more than 400 stores along Burke Road, stretching from Victoria Road to the Camberwell Junction and approx. 300 commercial businesses along Burke Road and the junction in both Camberwell and Riversdale Roads. Bordering the suburbs of Camberwell and East Hawthorn it is one of the largest and most vibrant ‘street shopping centres’ in Victoria. Camberwell traders appreciate the support from their regular customers and in turn try to give back to the local community through events and assisting charitable organisations.

Level 2, Suite 2, 13-15 Hardware Lane, Melbourne has been leased to a Japanese Beauty Therapy business for $40,000 per annum on a 3 year term plus 2 further terms of 3 years.