According to ABS data it is. ABS has forecasted that the population will grow to 5,000,000 by 2021, and in the next 20 years, it should surpass Sydney as being the biggest city due to the strong population growth in Melbourne’s West approximately 40kms out of the CBD.
A recent article in the Australian says that Melbourne can offer what Sydney cannot – affordable housing on the urban fringe, bringing us back to the first point – more people want to live in Melbourne.
Couple this fact with the one that Melbourne has been ranked the world’s most liveable city for the 6th time in a row by the Economist Intelligence Unit’s annual survey and you have a winning combination of where to live, and more importantly – where to invest.
The five most liveable cities:
To take advantage of what Melbourne has to offer when investing will mean that it is crucial to have investment grade properties. Larger properties tend to have more investment opportunities than smaller properties. Picking places that have infrastructure planning and/or transport in place is also critical when looking at where to buy.
Investors looking to expand their portfolio or new investors who just want to find out further information can contact us through our website. We have our Omnia 10 point checklist for selecting property which will be able to give you a guide of what to be looking for.