Recognising nearly 25 years in local real estate
There’s few who can profess to know more about real estate in Kensington than Lou Rendina.
Opening the suburb’s first agency, Rendina Real Estate, on Macaulay Rd back in 1998, Mr Rendina has forged a long and respected career in the industry spanning almost a quarter of a century.
Now, he has been recognised by the City of Melbourne with a Lord Mayor’s Small Business Achievement Award for 20-plus years of service to the community.
“Now that I reflect on it, it’s a great achievement for someone to be in business for so long and going through so much over that time,” Mr Rendina said.
“Running a business these days isn’t easy, for anyone or any industry. But, as I have, you get through these times, and if we can get through this period, we can get through anything.”
During his time in the industry, Mr Rendina has been thrown almost every curveball, from the 2008 Global Financial Crisis to a global pandemic. Throughout that time his infectious positivity and energy for local real estate has been the unwavering cornerstone underpinning his success.
That same sense of positivity is felt when he thinks about the future of Kensington.
“Kensington still has that village feel where everyone is waving hello – it’s a great atmosphere to have so close to the city,” he said.
“I can only see it getting better over the next five to 10 years, when the population grows it provides an opportunity for local businesses to step up and be supported by this growing community.”
“We are spoilt for choice, it’s all in our backyard. You have the showgrounds, Flemington Racecourse, incredible eateries, parklands, hospitals, public transport, and more.”
With Kensington’s proximity to Melbourne’s CBD, Mr Rendina said the area presented as one of Melbourne’s most affordable and well serviced suburbs.
According to Mr Rendina, buyers can purchase detached homes from anywhere between $800,000 to $900,000 unrenovated, or needing small amount of work for $1million, and even homes that were fully renovated for $1.2million.
“The area is becoming a blue-chip, bullet-proof suburb in terms of property prices,” he said.
“I put that down to a small selection of property available; people know it is a great suburb to be living in, not just in Kensington but the surrounds.”
“After seeing two-and-a-half decades in Kensington, this current market won’t last very long. You get a window for six months, where people think the market is going to tumble, and all of a sudden, they begin to go up again.”
Mr Rendina has seen a seismic shift in demographics from the working-class days of the 1990s, with what he described as an “older guard” of residents, to a growing number of young professionals deciding to move their families into the area because of the access to education and healthcare.
Looking to the future of Kensington, Mr Rendina emphasised the importance of maintaining heritage and a village feel for the rapidly growing suburb.
“Graffiti has been an issue over the past five years. I’d like to see that removed on the top of all buildings, not just on street level; [the] council has big a responsibility there,” Mr Rendina said.
“I think we can improve signage and keep that heritage flavour in the village with few modifications the main strip; buildings should be restored to tuckpointed brickwork, the canopies that are quintessentially Kensington reinstated, colours should be a uniform throughout the strip with a bit of brightness.”
“Between our traders and the City of Melbourne, I’m sure a voice can be found to continue the improvement of this great suburb.” •
Caption: Rendina Real Estate founder and director, Lou Rendina.
Photo: Murray Enders.