Melbourne may be one of the declining markets at the beginning of the year, but some areas of the city offer great potential for investment. Geelong, for example, resisted the downward trend in capital and recorded one of the highest capital growth in terms of Victoria's percentage to 2018.
In the January issue of Herron Todd White, it is stated that, although the eastern suburbs of Geelong are expected to experience a drop in prices before stabilizing at the end of the year, Areas located near the downtown area will provide good opportunities for those who wish renovations and updates, the area showing signs of gentrification.
These areas are also expected to record increased demand with the start of construction of Franz Development and the completion of major commercial developments such as the NDIA project of Malop Street mid-2019.
Meanwhile, the southern suburbs of Belmont, Grovedale and Waurn Pond seem to have continued to offer interesting value. These suburbs have extensive allotments that offer potential for future development near the Waurn Ponds Shopping Center, Waurn Ponds University and Railway Station. This area is intended to attract first-time buyers who enjoy stamp duty concessions and reduced competition to finally enter the market.
The northern suburbs of Geelong, such as Geelong West, Hamlyn Heights, Herne Hill, North Geelong and Corio, have recently shown solid growth, but the absence of key infrastructure projects is evident. With the tightening of loan credit legislation, especially for investment-grade properties, prices are expected to fall before stabilizing later.
The surf and Bellarine coasts have shown signs of weakening in recent months and are expected to stabilize in the future. There were fewer sales during the period and the properties stayed on the market longer than before. The less expensive secondary areas remain the main drivers of these sites, thanks to buyers who give priority to affordability.
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Top suburbs:
Keperra
,
Homebush
,
Hebersham
,
Ferntree Gully
,
Glendenning
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