The Melbourne growth cycle is now well past its peak and it’s becoming harder to find growth markets.
Melbourne overall had its sales peak in 2015/2016, was gradually easing off in 2017 and now only some of the affordable suburbs in the outer ring areas are upwardly-mobile. Middle ring suburbs are now stuck in plateau mode.
Based on our Winter survey of sales activity, the only municipalities with multiple growth suburbs are outer precincts such as the LGAs of Wyndham, Melton and Whittlesea, and while sales growth is now slowing in these areas, the earlier uplift in buying activity led to extraordinary price growth in the last 12 months.
Given all the patterns and trends we have observed in the Greater Melbourne area, we believe the best places to buy with prospects of growth are those outer-ring areas. We’re towards the end of the growth cycle but this is where astute investors can still find properties with affordable prices and potential for capital growth.
To discover the best places to buy in Melbourne at the moment, you need to read the new edition of Top 5 Melbourne Hotspots 2018.
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