GET THE LATEST TOP 5 MELBOURNE & TOP 5 VICTORIA REGIONAL REPORTS TOGETHER AND SAVE $66.
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Top 5 Melbourne Hotspots:
The Melbourne growth cycle is now well past its peak and it’s becoming harder to find growth markets. The only sub-market that is still experiencing strong sales activity and rising prices is the outer-ring sector, where first-home buyers are active.
Based on our latest survey of sales activity, the only municipalities with multiple growth suburbs are outer precincts such as the LGAs of Wyndham, Melton and Whittlesea.
Each of those LGAs has a small number of growth suburbs. A year ago those three LGAs each had seven or eight suburbs with strongly-growing sales activity; now only a handful remain.
But, as a result of that earlier uplift in buying activity, there has been extraordinary price growth.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.
They are towards the end of their growth cycles but this is where astute investors can still find properties with affordable prices and potential for capital growth.
Top 5 Vic Regional Hotspots:
Regional Victoria is the stand-out market in Australian real estate.
Against a backdrop of Regional Australia providing the leading growth markets across the nation, Regional Victoria has large numbers of towns and suburbs with rising buyer demand and the strongest price growth anywhere in Australia.
The Summer 2019 Edition of The Price Predictor Index identified 51 markets in Regional Victoria with rising demand, the highest since we started our quarterly sales surveys four years ago. Only Adelaide among the nation’s market jurisdictions has more growth markets than Regional Victoria – which also has another 90 locations with steady buyer demand.