Melbourne is consistently ranked as the world’s most liveable city, and growth is excepted to double by 2031. With these factors alone, it has a clear path to soon being Australia’s biggest city. Considering investing in Melbourne has a few key advantages, and our Senior Buyers Agent Mark Ribarsky gives us 3 reasons why Melbourne should be high on your consideration list for investment.
As mentioned, the growth corridor in Melbourne is huge. If the trends continue as projected, the population could exceed Sydney’s title of largest city by 2030. The classic supply and demand balance comes into place, and if you have the supply, be sure there will be demand! By taking advantage of the low interest rates, you could be the proud owner of a stable investment for many years to come.
Established track record
Melbourne is renowned for its highly skilled workforce population, sound infrastructure and deep local culture. With world-class teaching hospitals and universities, it witnesses an influx of students who settle temporarily while upskilling. While it isn’t a new trend, the presence of prestigious tertiary education facilities likes Monash University, and University of Melbourne will contribute to the increase in demand for rental properties in and around Melbourne.
Preferred business destination
Talented employees attract talented employers. In the last decade alone, six of the top ten, and twenty nine of the top hundred Australian companies have bought their company headquarters to Melbourne. Some examples of Victorian-based companies is BHPBillition, ANZ, NAB, Telstra and Computershare, who are all leaders in their respective fields. The economic boom in Melbourne means that people are moving to Melbourne from interstate, as well as internationally in order to secure jobs at these respected companies