Melbourne has always been a hot-spot for investors and going by industry estimates, it seems that 2017 will be no different.
Having being consecutively ranked as the ‘World’s Most Liveable City’ and with its population expected to double by 2031, Melbourne has clearly set its course to be Australia’s biggest city. So as an investor, how could you benefit from this population boom? How can Melbourne offer you the opportunity to maximise profit on your investment?
We give you 3 reasons on why Melbourne should be your next investment destination:
1. Proven Track Record
Melbourne is known for its highly skilled workforce, local culture, high standard of liveability and world-class infrastructure, but in addition to this Melbourne also witnesses a flurry of international students temporarily settle into the city each year. Major universities such as the University of Melbourne and Monash University, offer world-class education that attract thousands of students from around the world. Although not a new trend, tertiary education will continue to significantly contribute to increasing demand for rental properties in and around Melbourne.
2. Preferred Business Destination
Top talent also attracts top companies. Favourable business conditions, combined with an abled work-force has made Melbourne a preferred destination for top companies to setup their business. Six of the top 10, and 29 of the top 100 Australian companies have established their headquarters in Melbourne in the last decade alone. These help provide the economic thrust needed for Melbourne to constantly stay on top, making it the ideal destination for people within Australia and around the world to settle, work and live.
These Victorian-based companies are world-renowned leaders in their field, either globally or in Australia: BHP Billiton, Computershare, ANZ, CSL, NAB and Telstra.
3. Sizable Market
Melbourne's population has grown more quickly than any other Australian city over the past 10 years. If trends continue as predicted, Melbourne could overtake Sydney as Australia's largest city by 2030. As the increase in population delivers a spike in demand for affordable homes, in addition to continuing lower interest rates, medium to long term real estate investments in Melbourne should see stable investment growth for many years to come.
As the number of positives continue to grow for Melbourne as an ideal investment destination, now is the opportune time to make the most of the current market conditions. As the adage goes, ‘Make hay while the sun shines’ and it is clear that the sun is definitely shining brightly on Melbourne.
To know more on how you can capitalize by investing in Melbourne, please contact Three Sixty° Property Group today.