What to Know Before Buying in Kensington

Your first-home guide to one of Melbourne’s most charming inner suburbs

Kensington, just 4 km north-west of Melbourne’s CBD, is a hidden gem that blends historic character, village charm, and unbeatable access to the city. If you’re a first-home buyer considering Kensington, here’s your essential guide—from market trends and inspections to lifestyle insights and community connections.

1. ️ Get to Know the Neighbourhood

Kensington is known for its tree-lined streets, eclectic mix of architecture, and a true village feel. You’ll find a diverse community living in Victorian terraces, workers’ cottages, modern townhouses and converted warehouses. Whether you're a young couple, creative, or starting a family, Kensington’s laid-back lifestyle makes it a welcoming suburb.

Why people love it:

• Walkability: Local cafés, grocers, gyms, and wine bars are all within easy reach.
• Public Transport: Two train stations—Kensington and Macaulay—offer quick rides into the city.
• Community Spirit: From the monthly Kensington Market to local sporting clubs and creative workshops, there’s always something happening.

Source: Domain suburb profile – Kensington: www.domain.com.au/suburb-profile/kensington-vic-3031

2. The Property Market in Kensington

As of May 2025, Kensington’s median house price is around $1.25 million, while unit prices sit at approximately $575,000. It remains one of the more affordable inner suburbs, offering great value and strong potential for capital growth.

• Terraces & Cottages: Full of character, often under heritage overlay—perfect if you love charm and history.
• Apartments & Units: Ideal for first-home buyers or investors wanting low-maintenance living near the city.

The suburb continues to attract young professionals, renters, and growing families thanks to its blend of lifestyle and location.

Source: CoreLogic (www.corelogic.com.au), Realestate.com.au Kensington profile: www.realestate.com.au/neighbourhoods/kensington-3031-vic

3. ️ What’s Coming Next

Kensington is set to benefit from major government investment in the Arden and Macaulay Precincts, which will bring new infrastructure, green spaces, jobs and transport upgrades to the area.

That means better liveability, more amenities, and strong long-term prospects for homeowners.

Source: Victorian Planning Authority – Arden & Macaulay Precinct: www.vpa.vic.gov.au/project/arden-precinct

4. What to Look for at Inspections

Inner-city homes come with charm and quirks. Here are some key things to keep in mind during your inspections:

• Heritage Overlay: Many homes are heritage-listed. Renovations may require council approval.
  Check overlays via VicPlan: mapshare.vic.gov.au/vicplan
• Structural Issues: Some older homes may need roof work, restumping, or rewiring—get a building and pest inspection before making an offer.
• Drainage & Flooding: Properties near the Maribyrnong River may carry minor flood risk.
  Flood risk map: www.melbournewater.com.au/flood-maps
• Noise Levels: Visit the property at different times—trains or traffic can be an issue on certain streets.

5. Insurance & Risk Considerations

Building Insurance

Premiums in Kensington are moderate, but may be slightly higher if your property is heritage-listed or near a floodplain.

Contents Insurance

Standard, but check that your policy covers potential water damage and inner-city theft risk.

Strata

If buying into an apartment or townhouse:

• Review the owners corporation certificate
• Understand what’s covered in the building insurance
• Look for any special levies in upcoming maintenance plans

6. The Community Vibe

Kensington is more than just a postcode—it’s a place where neighbours know each other, kids play in the park, and the barista at your local café remembers your name.

Join a yoga class at the Kensington Recreation Centre, grab produce from the Kensington Market, or take part in the Neighbourhood House programs. There’s a strong emphasis on sustainability and inclusiveness here.

Neighbourhood House: www.kensingtonneighbourhoodhouse.com
Local Facebook Group: www.facebook.com/groups/kensingtoncommunitynetwork

7. Tips for First-Home Buyers

• ✅ Stamp Duty Concessions: First-home buyers may be eligible for reduced or waived stamp duty.
  Check eligibility: www.sro.vic.gov.au/first-home-owner
• ✅ Get Pre-Approved: Kensington homes can go quickly, especially during peak times. Having finance ready gives you a stronger negotiating position.
• ✅ Research Zoning: Be aware of planned developments or zoning changes around your property.
• ✅ Inspect During the Week: Weekend opens are busy. Try midweek to get a more relaxed look.

A Word from Lou Rendina

“Having worked in Kensington for decades, I’ve had the privilege of seeing families grow, businesses flourish, and a real sense of community take root. It’s a special place—one where people don’t just buy a home, they build a life.”
— Lou Rendina, Founder, Rendina Real Estate

Lou and the Rendina team have been part of Kensington’s landscape for generations. Their local knowledge, deep relationships, and trusted guidance make a real difference—especially for buyers entering the market for the first time.

☕ Got Questions? Let’s Chat

Buying your first home can feel overwhelming—but it doesn’t have to be. If you’ve got questions about Kensington, the buying process, or where to even begin, we’re here to help.

Send us a message or drop into the office. Even better—let’s grab a coffee and have a proper chat about your next move.