All eyes on Melbourne
With strong population growth from overseas, Melbourne is the best-perfoming Australian state capital in the residential property market, says the latest report from the team at Ray White Projects
In the first decade of the new millennium Melbourne was often called Australia’s Golden City. The property market performed especially well, and it’s a trend that continues.
Ray White Projects, a specialised group of project marketing professionals dedicated to providing the largest, most diverse range of new properties throughout Southeast Asia, says Melbourne, Victoria is proving to be the best-performing state capital in Australia.
Andrew Salvo and Jennifer Hogan from Ray White Southbank share a strong passion and knowledge for property and have developed experience and achievements second to none in Melbourne’s inner-city property market. The pair has successfully developed and executed strategies, teams and campaigns to sell more than 1400 brand new dwellings in the city’s inner suburbs in the past seven years.
Salvo and Hogan say that Melbourne has attracted more permanent residents, international students, businesses and employees than any other state capital. And it has also seen major transport infrastructure and economic activity, which help make it one of the world’s most liveable cities.
“There is no doubt the Melbourne housing market has performed very well in recent years, in line with strong population growth and increasing immigration numbers. This, along with the pent-up demand caused by the current under-supply of residential dwellings, ensures that pressure remains on residential investment property prices.”
Other factors impacting on the market include affordability – Melbourne and Brisbane generally offer much better value for money compared to the Sydney property market.
Salvo and Hogan say research is essential for any real estate investment, with location being the number one consideration for anyone looking to invest in property.
“Remember, too, that it is not the tax savings that give you financial independence – rather it’s the ongoing capital growth of your assets. Get the location right and the returns, as well as capital growth, should follow.”
For more information on new projects and investment opportunities, or for a private inspection, contact Ray White Southbank. Tel: (+613) 8102 0200. Alternatively, visit the website: www.raywhiteprojects.com.