Why you should buy your next property in Melbourne
When looking for your next investment property, then there’s one city that should not be disregarded and that is Melbourne.
Renowned as the sporting, culture and coffee capital of Australia, it is no wonder why thousands of people flock to Melbourne every year to live, whether from interstate or from overseas.
If Brisbane is currently out of your reach to buy a property right now, then the next best capital city I urge you to look at, from a growth point of view is Melbourne, particularly if you are looking for an investment property for your portfolio.
So what makes Melbourne such a great place to buy property? Here are 4 key reasons why you should consider Melbourne for your next property.
1) Melbourne is still well-priced Unlike its rival city Sydney, Melbourne is still an affordable capital city to buy in. You can still find one bedroom apartments 5km from the city for just $325,000 which is unheard of in Sydney.
With population numbers expected to almost double to 7.7 million by 2051, the demand for Melbourne apartments will ultimately increase.
2) High quality of buildings Melbourne is known for its high quality developments and unique, striking designs that fit in well with its artsy appeal. Here you can find all styles of apartments, whether you prefer boutique developments or high-rise developments. Enjoy light-filled interiors along with private balconies and communal rooftop terraces with infinity pools, relaxing gardens or BBQ areas where you can chill out after a hard day’s work with friends.
3) Liveability and appeal Melbourne has been named as the most liveable city in the world, for the fourth year running, according to the Economist Intelligence Unit’s liveability survey of 140 cities, and for good reason. Everyone wants to live here as the city has so much to offer. Whatever your tastes, Melbourne appeals to all walks of life, no matter how young or old you are.
Whether you are a sports fanatic or love shopping and fashion, culture and the arts, or exploring different cuisines, cafes and eateries then you can find all this and more throughout every Melbourne suburb.
4) Good transportation network Melbourne is well connected by public transport, allowing Melbournians to get around easily via train, tram and bus. Car users can also take advantage of the major roads such as Monash Freeway and Nepean Highway that head towards the city.
Property Cycle – Timing is everything When deciding on the best time to buy property, investors and buyers alike should refer to the property cycle. Ultimately, the best time to buy property is when prices are low at the bottom of the market, whilst ideally you should sell when property prices are sky-high during the boom phase.
Contact me today to learn more about Melbourne and for the latest property cycle information.
Published on 28th of May 2015 by Marty Stanowich