Growth in Epping
Epping is a suburb in Melbourne, Victoria, that is located in the government area of the City of Whittlesea. It is situated 22km north of the Melbourne Central Business District. Epping is a key suburb in servicing the Whittlesea growth area of Melbourne's 2030 planning scheme. Development of the local area has shown the suburb's preparation and commitment to the expected influx of residents.
Epping has demonstrated a notable level of growth in the past and this is expected to increase dramatically in the future. Its total population is anticipated to experience an increase in occupants, exceeding 100% by the year 2021. In 2006, the suburb's residents totalled 12, 203. This figure is projected to rise to the total of approximately 18, 791 by 2021.
As a result of large estate developments, the number of residents, as well as properties doubled between the years of 2004-2006. Such growth is predicted to continue as the new developments attract more individuals, especially younger families to take occupancy in the area. Epping has encountered strong capital growth recently and this trend is likely to accelerate. From 2006-2009 Epping's capital growth in median prices rose by 9.5%.
Households in Epping are shown to earn a higher median weekly wage than both Parramatta and Sydney. Statistics also show that Epping has attracted a 20.7% growth, from the years 2001 to 2009, of occupants, who were born overseas.
Nearby amenities, such as shopping centres, schools, TAFE, medical, sporting, recreational facilities and community events all assist in providing an appealing suburb that is drawing more and more residents.
In line with Melbourne's growth explosion, Epping is foreseen to be one of the first suburbs that will experience a dramatic increase in buyers. This projection is due to the fact that as Melbourne becomes more heavily populated, an increasing number of occupants will make the decision to move to the outer-skirts of Melbourne in order to benefit from more affordable and larger dwellings. The added bonus for residents is the close proximity of Epping to Melbourne's business centre without the need to sacrifice required facilities.
