Melbourne is on the verge of a comeback as investors begin to return to the market following the federal election
Often associated with Sydney as one of the cities that dictate the pace of the national market, Melbourne finally seems to recover from the recent decline that has affected the Australian real estate landscape. The value of its homes has increased 0.2% for the first time since its fall from a peak of November 2017, according to CoreLogic's home value index for June 2019. Although the rental performance weakened in June 2019 compared to March, the city still posted rents. increase of 0.5%.
"While homebuyers still dominate the real estate market in Melbourne, investors are starting to come back after the result of federal elections," said Antony Bucello, state director in Victoria , National Property Buyers.
According to him, the other factors that contributed to the resumption of the activity of investors are "the fall in interest rates and the loosening of the lending rules of the governing bodies".
In particular, first-time homebuyers are interested in townhouses and villas up to about $ 800,000, as well as family homes. A good location has been the key to competition for these types of properties.
"There is no doubt that buyer confidence is coming back to the Melbourne real estate market. We are seeing more and more auction bidders – certainly more than one or the other we saw regularly just a few weeks ago, "says Bucello.
"We expect the auction liquidation rate to continue to rise, and now we only need to increase inventory to meet the demand."
Frankston is one of Melbourne's cities that encourages investor activity and that Mayor Michael O'Reilly wishes to make "the epicenter of innovation, growth, innovation, and innovation." Industry, modernity and thought ".
"Frankston City is well positioned to support future growth and offers attractive and competitive advantages to attract investment," O'Reilly said.
The city quickly became a hub of entrepreneurial growth, with more than 8,000 businesses settled here. Numerous infrastructure projects are also planned, including the proposed expansion of the Frankston Hospital, the new Frankston Station and the redevelopment of Chisholm TAFE and Monash University.
"The time has come to build on the catalyst infrastructure and investments already in place or on which we have committed ourselves," said Mr. O. Reilly.
GOLDEN SQUARE: A Gold Investment in Bendigo
Golden Square, a suburb of the Bendigo area, is an attractive option for investors because it is a real estate market with growth potential and low prices.
House and unit values both increased about 8% from June 2019. The median house price was less than $ 350,000, while the unit price barely exceeded $ 250,000. $ 000. Both markets have experienced strong growth since 2014.
Rental rates increased in line with prices over the same period, with weekly averages of homes and units rising to $ 313 and $ 290 after respective increases of 4.2% and 5.5%. Units in particular can provide an excellent return of 6.2% to investors.
GROWTH: The gold spot has experienced a long period of strong growth over the last five years
AFFORDABILITY: Median values of this suburb make it ideal for low-budget buyers
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