Property Market in Melbourne

The Melbourne property market shows real promise for the year of 2015. Investors interested in buying property in Melbourne don’t want to go on an wild goose chase to find the hottest spots for sale. They not only want to make high profits for their initial investment but also continue to receive sustainable income thereafter.

Where Are The Investment Hotspots In Melbourne?

The suburbs just outside of Melbourne appear to be great hotspots for investors to take advantage of. One such place is Frankston, a coastal suburb found in the Bayside region. Commuters can not only take advantage of Peninsula Link but also a nice road connection as well as rail connections to Melbourne’s Central Business District (CBD).

Frankston has gardens and parks and is an affordable place that caters to several young families. From the standpoint of growth, property in Frankston are growing at a yearly rate of about 7 percent. According to the figures coming from the RP Data, the median house price is an estimated $330,000 whereas the median unit price is $260,000. Compared to Southern Metro Melbourne and the Mornington Peninsula, Frankston reflects the highest potential of evolving socio-economically. Since the population is predicted to grow to over 470,000, the local council has made it their top priority to broaden the opportunities of jobs in Frankston.

real estate agencies in Frankston, Victoria

Real estate agencies in Frankston, Melbourne.

Melbourne Property in the Northwest

Located 40km northwest of the CBD is Sunbury. This area is currently proving to be a great hotspot for investors because it provides cheaper housing. If investors are looking for great yields and regular passive income, Sunbury is seen by marketing experts as Melbourne’s main growth corridors.

Residential investment properties for families in the Southeast

With Pakenham and Cranbourn, there are very interesting suburbs that offer affordable estates for families. “Packy” is closely situated to the M1 which makes it very accesible for commuters who want to travel by car – but also the train is a convenient option to get into the CBD. If you are looking for promising residential investment properties in Pakenham, then read more about the Harrison Townhouse development.

Property for Sale in Melbourne

Property in the CBD is particularly tempting to investors because this area is glutted with the best jobs, the best entertainment, the best dining and new buildings. However, price growth has slowed noticeably because there are too many housing units being developed here. Overall, research analysts agree that investors will take a big risk buying rental units both in the inner city and the edge of Melbourne which can hurt their profit yields long term. According to RP data analyst Cameron Kusher, these Melbourne locations have only seen growth rates of 3.6 percent for houses and 4.4 percent for rental units.

What Makes Property Investment in Melbourne a Success?

Investors looking for property for sale in Melbourne could take time to study what makes one section of a city more desirable than another. There are many factors that come into play, like convenience with commuting, access to schools, recreational facilities, hospitals, restaurants and the workplace to name a few.

Investors looking for Melbourne property that is profitable can also look for specific details about a community that would make it appealing to homeowners or rentals. Is the area relatively safe? Does the property provide trendy as well as adequate living space? Does the community cater more to singles or to families? Does the area prevent frequent traffic jams from forming? Is the area eco-friendly and offer several amenities?

Melbourne Property: Considering Affordability to Growth

Property investment in Melbourne is tricky, to say the least. Although some areas are affordable they may experience little growth. However, the property market in Melbourne is expected to rise at a moderate pace for 2015 and strongly depends on whether mortgage rates increase along with the perecentage of unemployment.

The Melbourne property market in the suburbs of Eaglemont, Warrandyte, Malvern East, Elwood and East Melbourne have all done well and had a spike of 20 percent. As is the case with rental units, South Kingsville, Albion and Murrumbeena, all experienced a rise in market value of over 23 percent.

Bentleigh East 88.6%

Richmond 84.8%

Glen Iris 81.8%

Port Melbourne 76.7%

Reservoir 73.3%

Kew 71.8%

South Yarra 69.7%

St Kilda 69.8%

Craigieburn 41.9%

Investment Property in Melbourne That Makes Sense

The key to investing in Melbourne property is to count how much an investment will cost per week. Many people are looking for suburbia in the Melbourne property market. Investors have the dilemma of gleaning the hotspots in the Melbourne property market that allows a community to expand without sacrificing convenience or a comfortable lifestyle. This means finding investment property with excellent transportation options and ample job prospects.

[Last update: 21/08/2015]