TIPS FOR BUYING PROPERTY INVESTMENT IN MELBOURNE
Over the last few years the property of Melbourne market has strong and consistent, it has in fact, been Melbourne the best performing capital city market for over the last quarter of a century. In order to have a better understanding on situation of the second largest property market in Australia, follow property investment advice, there are some factors to be considered when investing in Melbourne’s property:
1. MARKET PRICES OF MELBOURNE PROPERTY
The value of Melbourne property has risen at the second fastest stride of all capital cities Over the past years. Consistently, Rates of Auction clearance have been discounting and rising, also the time on market levels have dropped through the city, showing a strong market depth from different property buyers and investors over the year. Currently, Melbourne rates as one of the top 10 fastest growing cities in the developed world, with its population that could to increase by 10% in 4 years’ time.
2. THE LAYOUT OF MELBOURNE
Melbourne is divided into 2 neighborhoods, the east neighborhood and the west neighborhood. The residents in the east neighborhood are well established and considered more affluent, while the residents in the west neighborhood are newer suburbs with less established reputations and affordability.
3. THE INFRASTRUCTURE OF MELBOURNE
Residents of Melbourne enjoys some of Australia’s advanced and connected road systems and other tram-infrastructural facilities, which enable the locals to have abundant options when deciding on how to get to the city and its neighboring suburbs.