Melbourne’s property market continues to be consistent, giving agents from all over the city a steady flow of busy days and long nights. Due to a surge in overseas investors and migration, research is starting to show that Melbourne is on its way to becoming more populous than Sydney and could be overtaking Sydney in the years to come as being the largest city in Australia.
The profile for the current buyers are a complete mixture of clientele, ranging from newcomers, downsizers, investors and families that are upsizing to bigger (and affordable!) homes. Local agencies are amazed by the pace and the size that the south-eastern corridor has and is growing by.
Recently developed suburbs such as Tarneit, Manor Lakes, Lockerbie and Truganina are starting to look progressively attractive to people breaking into the property market or looking to make changes to their current environment. Whereas the development of the suburb Endeavour Hills, Hallum, Berwick, Pakenham & Cranbourne was always predicted, it is places such as Clyde and Clyde North that has taken the locals by surprise with the growth ‘going through the roof’ says EA magazine.
Where the infrastructure has struggled to keep up in the past, it has improved. For instance, in Casey a new private hospital is currently being built next to a public school, there are numerous private and public schools in the district and there are public transport services that take residents into Melbourne City.
In many cases, the newly built homes are being snapped up fast and the sales consultants at various agencies such as O’Brien Real Estate, Hocking Stuart Werribee, Harcourts Epping and Barry Plant Melton are excited about the current level of growth and predict it will continue.
Dean O’Brien of O’Brien Real Estate says a project in Berwick Waters, Clyde North, is extraordinary. It will have 3000 homes and is ahead of schedule. People are buying and moving in already – this is amazing for the area.