Melbourne Property Investment 2017
The Melbourne property investment market has continued to show resilience. Despite the strong rate of growth that’s continuing in some parts of the Melbourne investment property market, it’s important to look closely at how the different areas are performing in isolation before making any major purchases,
Melbourne is one of two capital cities (along with Sydney) that have recorded the strongest increase in home values in the past 12 months, while also recording the lowest rental yields.
However, apartment rents are now rising to record levels, with vacancy rates falling despite a new apartment boom. House rents remain at peak values, with low vacancy rates indicating no relief in sight for tenants. Median weekly asking unit rentals increased to $380 over the March quarter for an annual increase of 4.1 per cent. House rents consolidated at the record $400 per week – an increase of 2.6 per cent over the year. Vacancy rates for houses remain tight, with unit rates now falling despite the recent surge in new supply.
Chinese buyers target Melbourne Property
The weakening Australian dollar is attracting more foreign investment and this seems to be particularly the case in Victoria. Foreign buyers appear to be targeting suburbs 10 – 20 km south-east or east of the Melbourne CBD, according to www.myfun.com In fact, the four most-searched areas across Australia all come from this part of Victoria’s capital.
National Investment Planning provides investment property selection and guidance for investors in the Melbourne property market.
Contact us on 1300 545 899 for a free information pack, or to arrange an obligation free consultation.