Melbourne's property market becomes home of great future investments

By the resi financial blog team, 08 July 2014

Melbourne is good for future investment 2014

With the population of Australia expected to rise over the coming years, now could be a brilliant time to consider moving into some of Australia's more metropolitan regions and looking into purchasing investment properties. With so many options across the nation, you'd be forgiven for feeling a little confused about where to begin looking, but the most recent release from the Housing Industry Association could offer a decent helping hand. 

The latest Population and Residential Building Hotspots report has provided information about the fastest growing regions across the country, with hotspots being described as areas exceeding the national rate of growth - recorded at 1.8 per cent in June 2013 - as well as undergoing residential building work valued over $100 million. Of all the places featured, Victoria came out with eight of the top 20 hotspots in Australia, including four in the top 10. 

Housing Industry Association Executive Director Gilbert King said that investment activity in Melbourne could be considered a good move to make in the future, with the population expected to continue upwards in the coming years. 

"The inner city statistical area of Melbourne was the hottest of Victoria's hotspots with over $385 million of new residential building work approved and the population growing at a rate of 22.7 per cent. Given that the population within this area was already quite large, a growth rate of 22.7 percent is an impressive result," said Mr King in a July 7 statement. 

"Essentially all of the new residential building work approved in Melbourne relates to the construction of multi-unit new dwellings. These population growth figures show more and more households are opting for the benefits that city life has to offer." 

Categories: Home Loans, Property Investment