Skip to main content

Top Reasons to Invest in Melbourne Real Estate

Consistently ranked as one of the world's most liveable cities, Melbourne is in the midst of a population boom yet still holds affordable property for investors. Housing prices have fallen slightly but demand is only expected to increase in the future, making now a great potential time to invest. If you're thinking about purchasing home in Australia, there are several reasons to explore Melbourne and its suburbs in search of potential investments.

Property Affordability

According to the Australian Bureau of Statistics, average house prices in Melbourne have fallen 2.2% between September 2011 and September 2012. Good deals can be found in Melbourne's inner suburbs, which also benefit from excellent transportation links into the city. In comparison to Sydney, housing prices are anywhere from 20-45% lower on average. Those interested in commercial Melbourne real estate investments can also benefit from affordability. The international real estate company Cushman and Wakefield found that Melbourne is the most affordable city in Australia in which to lease an office.

Melbourne's most expensive suburbs have declined slightly in price, making these attractive areas of the city more available to first-time homebuyers. Other factors influencing the availability of real estate include low interest rates and government assistance for first-time homebuyers.

High Demand

With affordable housing prices, more first-time home buyers have been able to purchase property in the past decade. This has led to an increased demand for housing, providing higher gains for property owners. Some forecasters believe that there will be an under-supply of new housing throughout Victoria in the years to come, due to a rising population. Compared to other capital cities, population growth in Melbourne is rising at a steep rate, around 4% each year. Property investments in Victoria could pay off with significant price increases as this demand continues to grow.

Investment Potential

Those looking for residential property will find many affordable and convenient options, but another reason to think about purchasing Melbourne real estate is with an eye towards rental income. Just as there is estimated to be a housing shortage in the future for buyers, there will also be low vacancy rates in rental properties as well. The growing population means that those who invest in rental units will find that they are highly unlikely to experience any periods of vacancy, and can charge fair yet lucrative rates. This high demand for rental properties has grown over the past several years and is expected to continue along with the population growth.

Excellent Infrastructure

Melbourne is a lively, sophisticated city that hosts exciting world conferences and cultural events. Yet it's also a convenient place to live, with an advanced and modern infrastructure. Those who choose to invest in Melbourne's suburbs will find a range of road and rail links to connect them into the city, along with clean streets and well-tended motorways. The government has increased recent investment in Melbourne's infrastructure, to update city services and provide modern conveniences that put this city high on the list of the world's most liveable urban areas.

With an affordable housing market, incentives for first-time homebuyers, and high demand for property; the overall picture for investors in Melbourne is looking bright. A consistent upward trend in population and a lack of new development should keep demand high, with those who invest now benefiting from the greatest return on investment.

Comments

Popular posts from this blog

4 Things You Need to Know Before Applying for Payday Loans

 Money keeps life worth living. This is because on certain occasions we are short of cash and our life becomes miserable. You have to pay for the refrigerator that broke down the night before. The repairman demands a down payment of $200 to put the focal point of your kitchen back into working order. This is where Payday Loans help you out. Get in touch with the Payday Locker to get the loan process started. Fact #1 People with a job will get a loan The payday loan is a short-term unsecured loan for employed people. We call it unsecured because they do not ask for any deposit or security to give you the loan. It is short-term because they will give the money within the day and the borrower will pay back the money within 15 days. And, it is a loan for people who have a job. If you don't have a job, they will not give you the loan. Fact #2 Payday Locker does not give a loan The payday locker is a service provider but they will not give you money. You will contact them to get the Cash

Apartment owners beware: building insurance stops at your apartment door

Buying a new apartment can be exciting, and with all the emotion and upheaval of moving into a new place, it can be easy to overlook (or even be unaware of) the need to make sure you’re properly insured. The problem is, this oversight is often not realised until it’s all too late. The sad fact is, many people don’t even realise they need their own insurance when buying into a condo or co-op, and assume that their building’s insurance covers everything. It doesn’t. That’s why it is important when you’re buying a new apartment, to know what is covered by the building owners’ insurance and what you need to get cover for personally. There is a checklist at Flex Insurance . Of course, you also need to know what kind of ownership you have over your unit, so let’s look at that first. Condo or Co-op - what difference does it make? Quite a big difference actually. Firstly, you don’t want to be under-insured. But at the same time, you don’t want to be paying twice for insurance cover

Advice On Cutting Down On Travel Costs

Next to rent or a mortgage, travel costs are likely to be the biggest outgoing for most working people. With fuel costs rocketing, pushing up the price at the pump and on public transport, the key question is how to make every penny count when it comes to travel. The best money-saving ideas aren’t rocket science, but often the simplest solutions are staring us in the face. So here are 5 quick tips to help you cut down on your travel costs.