In 1980 when Apple was first publically listed, its share price was $22 per share. Now, in 2014, it has shown a growth level to be more then 25 times that amount. Victoria Park has gone through a similar transition. A small industrial area which not many people showed interest in throughout the 80’s and 90’s to a vision of a grand landscape at the turn of the century to what it is becoming presently, a leading Urban Renewal Project. With these plans it has also brought a lot of anticipation from many different parties.
With development sites shooting up left right and centre within the small community, pardon the pun but everybody wants their piece of the apple. Whether it is the large construction companies coming in and putting their footprint on the structural landscape of the area, to the mum and dad investors who are looking to boost that nest egg for the years to come or even the young real estate agent looking to cut their teeth into an ever expanding market, everyone wants a taste.
In our current economic climate with the real estate market appearing to be pushing past the peak of a much publicized ‘boom’ period, growth areas such as Victoria Park are on the radar of investors. With the potential to make a solid earning on their investment and its close proximity to the CBD, airport and Sydney’s pristine beaches, it does appeal to those individuals who are looking to rent. As I have mentioned in earlier posts, foot traffic at inspections at the time of new apartments settling is impressive. With the phone ringing off the hook to book inspection times and the numbers at inspections for prospective tenants is testament to the area and the demand that it is in.
With Victoria Park becoming a highly sort after location for both owners and tenants, it is hard to believe that it was an industrial area some 15 years ago. Both Victoria Park and Apple are providing their clientele with similar aspects. Apple prides itself on being the leaders on Innovation and the design behind Victoria Park follows a similar structure.
The biggest comparable between both Apple and Victoria Park is their growth. Having started from not much other then a wooden box from a garage or a run down industrial playground, both have experienced growth and a massive change which can impact the lives of many.