New precinct offers investment opportunities in Melbourne

By the resi financial blog team, 29 October 2013

Werribee Point pricinct

If you're looking  for property investment opportunities in Melbourne, now could be the perfect time to turn towards the latest Victorian coalition government's blueprint for Melbourne, aptly named 'Plan Melbourne'.

Outlined in the strategy is an initiative to generate six suburban National Employment Clusters across the city, which will help to provide more jobs and housing through these various new developments across the capital.

The first of these is known as the East Werribee Precinct, which will generate more than 58,000 jobs throughout the region and provide over 7,000 new houses for individuals to purchase.

Victorian Premier Denis Napthine said the fundamental element of the Plan Melbourne initiative was to deliver jobs and investment opportunities to the public, in order to retain a high degree of national competitiveness.

"We will ensure we have a strong, well-located land supply for residential, commercial and industrial investment," said Mr Napthine in an October 7 statement.

"This precinct is the largest commercial precinct on government owned land in Victoria's history, with the extra benefits of access to a major freeway and proximity to ports and two airports. It will create jobs across a range of industries and builds on the 2,000 existing jobs located at the site."

This could provide a smart buyer the perfect opportunity to take out an investment home loan and secure an investment property in a rapidly developing region of Melbourne to expand their property portfolio.

Minister for Roads Terry Mulder stated that the new precinct will also deliver crucial infrastructure to the area, including a $40 million diamond freeway to help the growth of the Wyndham region.

"This government is committed to getting on with the job of providing key infrastructure to new precincts, and this project is meeting that obligation to the community," said Mr Mulder in an October 7 statement.

Categories: Home Loans, Property Investment