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Melbourne. The place to be.

By Eileen Lu

Known as Australia’s golden-city of the 2000’s, Melbourne is proving to be the best performing capital city according to Ray White Projects

Ray White Projects is a specialised group of project marketing professionals, dedicated to providing the largest and most diverse range of new properties throughout S.E Asia. Andrew Salvo and Jennifer Hogan
from Ray White Southbank share a strong passion and knowledge for property and have developed experience and achievements second to none in Melbourne’s inner city property market.

Andrew and Jennifer have successfully developed and executed strategies, teams and campaigns to sell down over 1400 brand new dwellings in Melbourne’s inner city suburbs over the past seven years.

In the last decade, Melbourne has attracted more permanent residents, international students, tourists, businesses, employees, major transport, infrastructure and economic activity than any other capital city while remaining the world’s most livable city.

The Melbourne housing market has performed very well in recent years and it continues to experience strong population growth from overseas.

Victoria’s population has significantly increased above the national average and it is expected to continue doing so in 2012 and beyond. This, along with the current undersupply of residential dwellings, ensures that pressure remains on residential investment property prices.

Like any real estate investment, locating and purchasing the right investment property in the right suburb requires careful consideration and research. Buyers should look for suburbs that have strong positive attributes. For example overall appeal, good public transport, good schools, shops, close to arterials and above all, invest in areas that are consistently showing a growth in population.

Affordability. Melbourne residential and investment property sector is performing well and many analysts predict it to continue doing so.
Melbourne and Brisbane investment property markets generally offer much better value for money as compared to the Sydney property market.
Pent up demand. Many leading economic forecasters believe there is an undersupply of new housing in Victoria.
High consumer confidence motivates people to make more long term decisions such as purchasing a new home.
Improved immigration numbers. Melbourne’s population is now increasing at a faster rate than most other capital cities leading to an increase in the demand for housing. Population growth is around 2% – well above the national average of 1.8%.

Remember, that when you select a unit as an investment, succumbing to the lure of tax savings is a fundamental mistake for investors. You do not attain financial independence through saving tax – you gain financial independence through the ongoing capital growth of your assets. So, get the location right and the returns as well as the capital growth should follow.

Ray White Southbank is a  team of property consultants specialising in a carefully selected group of brand new projects in Melbourne’s hot spots. Please contact the office on (03) 8102 0200 for a private inspection, or visit the website www.raywhiteprojects.com

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