Hip suburbs: Footscray, Coburg, Highett tipped to become Melbourne’s next cool hot spots

MOVE over Fitzroy — three other suburbs are tipped to become Melbourne’s next cool hot spots as present hip areas become too expensive.

Story on Melbourne suburbs that were once undesirable but are now trendy, including the 'burbs tipped by experts to be trendy next. Highett in Melbourne's southeast is emerging as a fashionable suburb, having benefited from the ripple effect of buyers being priced out of Hampton, Sandringham etc. Michael De Krester bought a family house there three years ago for $700k, it's now estimated to be worth more than $1 million. Pictured with Michael is his wife Kateryna Logachova and daughter Anna Logachova (15) Picture: Paul Loughnan

MOVE over Fitzroy — Footscray, Coburg and Highett are tipped to become Melbourne’s next cool suburbs as younger buyers are increasingly priced out of the city’s present hip hot spots.

Property experts expect Melbourne’s inner west and middle north to develop into the city’s trendy hubs, as young professionals and families are lured by affordable house prices and developing food and shopping strips.

Buyer’s advocate Paul ­Osborne, of Secret Agent, said previously unfashionable areas were gentrifying as families and professionals moved in.

“Suburbs like Fitzroy have still got that edge, but they’ve lost a bit of their grunginess,” he said.

“Young people would love to live on Gertrude St, but the reality is, a lot of houses there are being purchased by people in their 50s.”

Footscray was becoming hip thanks to its “multicultural flair”, popular produce markets, pho restaurants and ­developing cafe culture, Mr Osborne said. Seddon and Yarraville were also rising.

Coburg and Preston, were being driven by young buyers seeking period houses but ­unable to afford Brunswick, Northcote or Thornbury.

For Advantage Property Consulting director Frank Valentic, Reservoir is the north’s “hidden gem” due to its popularity with first-home buyers and developers, while “sleeping giant” West Footscray would soon be cool.

Collingwood, too, remained trendy among young buyers priced out of Fitzroy, he said.

In the southeast, Highett’s apartment develop­ments were attracting young buyers and big money had gone into the Highett Rd shopping strip.

Michael De Krester recognised Highett’s potential three years ago, snapping up a five-bedroom house for his young family for $700,000. It’s now worth more than $1 million.

Mr De Krester said the suburb boasted easy access to public transport and the beach, closeness to the desirable Sandringham and Hampton, and a developing restaurant, cafe and bar culture.

Hockingstuart director Rob Elsom said a suburb’s coolness was typically “driven by food”, while Mr Valentic said if you couldn’t find a good coffee in a suburb, it hadn’t taken off yet.

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